Filtronic (FTC) AI Stock Analysis

• Market Cap: £424.49M
• Dividend Yield: N/A
• Average Volume (3M): 1.29M
• Price to Earnings (P/E): 30.1
• Beta (1Y): 1.44
• Revenue Growth: 121.45%
• EPS Growth: 345.83%
• Country: UK
• Employees: 133
• Sector: Technology
• Sector Strength: 88
• Industry: Communication Equipment
• EPS (TTM): 0.03
• Shares Outstanding: 219,942,720
• 10 Day Avg. Volume: 981,293
• 30 Day Avg. Volume: 1,290,637
• PEG Ratio: 0.06
• Price to Book (P/B): 7.75
• Price to Sales (P/S): 4.87
• P/FCF Ratio: 34.02
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £196.00
• Price Target Upside: 8.29% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 75 Outperform
• Price Target: 204.00p ▲(12.71% Upside)

The score is primarily driven by strong financial performance (rapid revenue growth, high margins, low leverage, and solid cash flow). Technicals are supportive but stretched with overbought signals that raise near-term risk. Valuation is a moderate headwind due to a higher P/E and no dividend yield data.

Positive Factors

Revenue Growth

Sustained revenue growth indicates expanding market presence and effective product offerings, supporting long-term business expansion.

Profit Margins

High profit margins reflect efficient cost management and pricing power, enhancing profitability and competitive positioning.

Cash Flow Generation

Strong cash flow generation supports reinvestment in growth opportunities and provides financial flexibility for strategic initiatives.

Negative Factors

Market Sentiment

While short-term momentum is positive, reliance on technical indicators suggests potential volatility, which may not reflect fundamental strength.

Earnings Call Absence

Lack of earnings call insights limits transparency and investor communication, potentially affecting investor confidence and decision-making.

Corporate Events

Absence of recent corporate events may indicate a lack of strategic initiatives or partnerships, potentially impacting growth prospects.

Filtronic Business Overview & Revenue Model

Company Description

Filtronic plc designs, develops, manufactures, and sells advanced radio frequency (RF) communications equipment for telecommunications infrastructure, aerospace and defense, and critical communications market sectors in the United Kingdom, Europe, the Americas, and internationally. It provides Morpheus II, an e-band transceiver module; Cerus, a power amplifier for long range e-band communications; tower top amplifiers; Orpheus, an ultra-high-capacity turn-key solution for backhaul, fronthaul, and mid haul; switched filter banks; GaN amplifiers; custom filters products, including metal cavity, ceramic, combline, interdigital, lumped element, suspended substrate, waveguide, and thin-film filters; and custom combiner products. The company also offers interference mitigation filters; transmit and receive modules; microwave and mmWave transceivers; front end modules, such as power amplifiers, low noise amplifiers, switches, filters, power detectors, baluns, and other products; ceramic, combline, lumped element, metal cavity, suspended substrate, thin film, and small cell filters; waveguide diplexers; and cross-band and in band combiners. In addition, it provides contract design and microelectronic manufacturing services, RF design and testing, and process engineering services. The company was formerly known as Filtronic Comtek plc and changed its name to Filtronic plc in March 1998. Filtronic plc was founded in 1977 and is based in Sedgefield, the United Kingdom.

How the Company Makes Money

Filtronic generates revenue through the sale of its RF and microwave components and systems to telecommunications equipment manufacturers and service providers. The company has established key revenue streams from long-term contracts and partnerships with major players in the wireless industry, enabling it to capitalize on the growing market for 5G infrastructure. Additionally, Filtronic's focus on research and development allows it to introduce new products that meet emerging market needs, providing a competitive edge and driving sales. Its strategy also includes expanding into international markets, which contributes to its overall earnings potential.

Filtronic Financial Statement Overview

Summary

Filtronic demonstrates strong financial performance with significant revenue growth, robust profit margins, and efficient cash flow generation. The low debt-to-equity ratio and high return on equity further highlight the company's solid financial health.

Income Statement

Filtronic has demonstrated strong revenue growth of 32.37% in the latest year, with robust gross and net profit margins of 61.19% and 24.95%, respectively. The EBIT and EBITDA margins are also healthy at 24.25% and 27.53%, indicating efficient operational management. The consistent improvement in profitability metrics over the years highlights a positive trajectory.

Balance Sheet

The company's balance sheet is solid with a low debt-to-equity ratio of 0.10, indicating conservative leverage. The return on equity is impressive at 39.71%, reflecting strong profitability relative to shareholder equity. The equity ratio is not explicitly provided, but the overall financial health appears stable with increasing equity over time.

Cash Flow

Filtronic's cash flow performance is strong, with a significant free cash flow growth rate of 77.92%. The operating cash flow to net income ratio of 1.19 suggests efficient cash generation relative to earnings. The free cash flow to net income ratio of 0.58 indicates a solid conversion of earnings into cash, supporting future growth and investment.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	56.32M	56.32M	25.43M	16.27M	17.05M	15.56M
Gross Profit	34.46M	34.46M	16.07M	10.28M	11.41M	2.63M
EBITDA	16.16M	15.51M	4.92M	1.33M	3.31M	1.58M
Net Income	14.05M	14.05M	3.14M	464.00K	1.47M	60.00K
Balance Sheet
Total Assets	49.79M	49.79M	25.27M	18.09M	16.44M	14.61M
Cash, Cash Equivalents and Short-Term Investments	14.49M	14.49M	7.21M	2.61M	4.01M	2.91M
Total Debt	3.69M	3.69M	3.02M	2.31M	1.82M	2.16M
Total Liabilities	14.42M	14.42M	10.45M	6.54M	5.40M	5.25M
Stockholders Equity	35.38M	35.38M	14.81M	11.54M	11.04M	9.36M
Cash Flow
Free Cash Flow	10.01M	8.06M	4.76M	-581.00K	2.04M	1.72M
Operating Cash Flow	13.84M	13.84M	6.33M	950.00K	2.29M	2.13M
Investing Cash Flow	-5.79M	-5.62M	-1.49M	-1.52M	-250.00K	-392.00K
Financing Cash Flow	-635.00K	-903.00K	-228.00K	-840.00K	-964.00K	-704.00K

Filtronic Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 181.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:FTC, the sentiment is Positive. The current price of 181 is above the 20-day moving average (MA) of 163.25, above the 50-day MA of 144.59, and above the 200-day MA of 135.48, indicating a bullish trend. The MACD of 9.56 indicates Negative momentum. The RSI at 72.01 is Negative, neither overbought nor oversold. The STOCH value of 65.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:FTC.

Filtronic Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FTC	75 Outperform	£424.49M	30.06	55.98%	―	121.45%	345.83%
MWE	75 Outperform	£44.39M	11.78	17.79%	4.20%	5.46%	12.34%
GHH	67 Neutral	£169.70M	45.42	3.13%	2.19%	10.66%	21.19%
CML	66 Neutral	£44.01M	37.27	2.28%	3.67%	-21.33%	-11.35%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
CLX	58 Neutral	£38.89M	62.25	2.36%	2.02%	20.83%	―
TTG	54 Neutral	£198.36M	-2.83	-31.42%	―	-16.33%	-448.12%

Filtronic Corporate Events

Filtronic Secures Major Defense Contract for Electronic Sensor Program

Filtronic has been selected by a major European defense prime for the next phase of an electronic sensor program, receiving an Authorisation to Proceed worth approximately £7 million. This contract, expected to total £11 million over two years, will be executed at Filtronic’s new microelectronics facility in Sedgefield, reinforcing the company’s position in the growing defense market and showcasing its capability to meet long-term demand for advanced RF solutions.

The most recent analyst rating on (GB:FTC) stock is a Buy with a £157.00 price target. To see the full list of analyst forecasts on Filtronic stock, see the GB:FTC Stock Forecast page.

Filtronic Secures Landmark Contracts and Strengthens Market Position

Filtronic has made significant strategic progress in the first half of FY2026, securing its largest-ever contract with SpaceX for its E-band GaN product, marking a major commercial deployment in the space market. The company also expanded its customer base with contracts in the aerospace and defense sectors, enhancing its order book and pipeline. Filtronic’s innovation strategy is advancing with new product launches planned for 2026 and funding for a Ka-Band power amplifier, positioning the company for growth in the global space ecosystem. The company remains financially strong, with a robust order book and confidence in meeting full-year market expectations.

The most recent analyst rating on (GB:FTC) stock is a Buy with a £157.00 price target. To see the full list of analyst forecasts on Filtronic stock, see the GB:FTC Stock Forecast page.

Filtronic Secures £1.2m for Next-Gen Satellite Amplifier Development

Filtronic has been awarded £1.2 million by the UK Space Agency’s National Space Innovation Programme to develop a high-power 550W Ka-Band Solid-State Power Amplifier (SSPA). This new amplifier is designed to integrate easily into existing satellite ground stations, facilitating a transition from older technologies and supporting the expansion of non-geostationary constellations. The project is part of a government initiative to advance UK space technology, aiming to enhance the commercial viability of innovative solutions and strengthen the UK’s position in the global space economy. The development is expected to reduce operating expenses and improve the reliability of satellite networks, contributing to more sustainable and future-ready satellite systems.

The most recent analyst rating on (GB:FTC) stock is a Buy with a £196.00 price target. To see the full list of analyst forecasts on Filtronic stock, see the GB:FTC Stock Forecast page.

Filtronic Issues New Shares Following ESOP Option Exercise

Filtronic plc has announced the issuance of 181,813 new Ordinary Shares following the exercise of options under its ESOP scheme. These shares are set to be admitted to trading on AIM, with dealings expected to commence on 17 November 2025, increasing the total number of Ordinary Shares in issue to 219,942,723.

The most recent analyst rating on (GB:FTC) stock is a Buy with a £152.00 price target. To see the full list of analyst forecasts on Filtronic stock, see the GB:FTC Stock Forecast page.

Filtronic Secures €7m Contract for LEO Satellite Constellation

Filtronic has secured a multi-year contract worth over €7 million with a leading European aerospace manufacturer to supply RF assemblies for a major Low Earth Orbit satellite constellation program. This contract underscores Filtronic’s technical expertise and strengthens its position in the space market, reflecting the company’s ability to deliver high-reliability performance in demanding space environments and its commitment to supporting the growing satellite connectivity market.

The most recent analyst rating on (GB:FTC) stock is a Buy with a £152.00 price target. To see the full list of analyst forecasts on Filtronic stock, see the GB:FTC Stock Forecast page.

Filtronic Announces Major Orders and Strategic Growth Plans

Filtronic plc has announced significant progress at the start of FY2026, highlighting a strong sales pipeline and increased customer engagement across key markets. The company secured its largest order to date from SpaceX, valued at over £47 million, for its next-generation GaN E-band product, marking a major milestone in satellite communication technology. Additionally, Filtronic secured a £13.4 million contract with a leading European defense prime, reflecting growth in the defense sector. The company plans to launch new high-frequency GaN technology products in 2026, aiming to enhance its market position and meet the growing demand for secure communications infrastructure.

The most recent analyst rating on (GB:FTC) stock is a Buy with a £148.00 price target. To see the full list of analyst forecasts on Filtronic stock, see the GB:FTC Stock Forecast page.