Filtronic PLC (GB:FTC)
LSE:FTC
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Filtronic
(LSE:FTC)
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Rating:75Outperform
Price Target:
225.00 p
▲(24.31% Upside)
Action:ReiteratedDate:01/04/26
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
Strong Revenue Growth
Sustained 32% revenue growth reflects successful demand for RF/microwave products in mission-critical telecom and defense end markets. This pace supports scale, program wins and recurring production runs, improving long-term visibility for manufacturing capacity and engineering investment.
Negative Factors
Customer Concentration Risk
Reliance on a small number of OEMs and program-based contracts creates structural revenue volatility and exposes Filtronic to abrupt demand swings or bargaining by large customers. Loss or delay of a major program can materially impact near- to medium-term revenues and capacity utilization.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Sustained 32% revenue growth reflects successful demand for RF/microwave products in mission-critical telecom and defense end markets. This pace supports scale, program wins and recurring production runs, improving long-term visibility for manufacturing capacity and engineering investment.
Read all positive factors
Filtronic (FTC) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£439.89M
Dividend YieldN/A
Average Volume (3M)1.29M
Price to Earnings (P/E)27.4
Beta (1Y)1.87
Revenue Growth121.45%
EPS Growth345.83%
CountryUK
Employees133
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)0.01
Shares Outstanding219,942,720
10 Day Avg. Volume981,293
30 Day Avg. Volume1,290,637
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)7.75
Price to Sales (P/S)4.87
P/FCF Ratio34.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£213.00Price Target Upside17.68% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.03
Revenue Forecast (FY)£55.45M
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,...
How the Company Makes Money
Filtronic makes money primarily by selling RF/microwave products and engineered subsystems to OEMs and system integrators, with revenue recognized through the delivery of manufactured hardware and, where applicable, associated engineering work. Ke...
Filtronic Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
80
Positive
| Breakdown | TTM | May 2025 | May 2024 | May 2023 | May 2022 | May 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 55.98M | 56.32M | 25.43M | 16.27M | 17.05M | 15.56M |
| Gross Profit | 23.86M | 34.46M | 16.07M | 10.28M | 11.41M | 2.63M |
| EBITDA | 13.38M | 15.51M | 4.92M | 1.33M | 3.31M | 1.58M |
| Net Income | 9.96M | 14.05M | 3.14M | 464.00K | 1.47M | 60.00K |
Balance Sheet | ||||||
| Total Assets | 55.02M | 49.79M | 25.27M | 18.09M | 16.44M | 14.61M |
| Cash, Cash Equivalents and Short-Term Investments | 10.51M | 14.49M | 7.21M | 2.61M | 4.01M | 2.91M |
| Total Debt | 6.18M | 3.69M | 3.02M | 2.31M | 1.82M | 2.16M |
| Total Liabilities | 16.41M | 14.42M | 10.45M | 6.54M | 5.40M | 5.25M |
| Stockholders Equity | 38.61M | 35.38M | 14.81M | 11.54M | 11.04M | 9.36M |
Cash Flow | ||||||
| Free Cash Flow | 6.70M | 8.06M | 4.76M | -581.00K | 2.04M | 1.72M |
| Operating Cash Flow | 15.13M | 13.84M | 6.33M | 950.00K | 2.29M | 2.13M |
| Investing Cash Flow | -11.13M | -5.62M | -1.49M | -1.52M | -250.00K | -392.00K |
| Financing Cash Flow | -610.00K | -903.00K | -228.00K | -840.00K | -964.00K | -704.00K |
Filtronic Technical Analysis
Positive
181.00
Price Trends
193.04
Positive
175.05
Positive
157.92
Positive
Market Momentum
4.03
Negative
55.30
Neutral
80.95
Negative
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 below the 20-day moving average (MA) of 188.72, below the 50-day MA of 193.04, and above the 200-day MA of 157.92, indicating a bullish trend. The MACD of 4.03 indicates Negative momentum. The RSI at 55.30 is Neutral, neither overbought nor oversold. The STOCH value of 80.95 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:FTC.
Filtronic Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | £53.10M | 10.27 | 17.36% | 4.20% | 5.46% | 12.34% | |
75 Outperform | £439.89M | 27.44 | 26.93% | ― | 121.45% | 345.83% | |
67 Neutral | £242.50M | 25.56 | 3.10% | 2.19% | 10.66% | 21.19% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | £42.68M | -17.38 | 2.30% | 2.02% | 20.83% | ― | |
54 Neutral | £206.60M | -4.02 | -31.21% | ― | -16.33% | -448.12% | |
52 Neutral | £41.02M | 5.88 | 2.29% | 3.67% | -21.33% | -11.35% |
* Technology Sector Average
GB:FTC
Filtronic
200.00
107.00
115.05%
GB:CML
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247.00
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GB:GHH
Gooch & Housego
886.00
493.00
125.45%
GB:MWE
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61.60
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45.02%
GB:TTG
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116.00
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58.69%
GB:CLX
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48.50
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14.96%
Filtronic Corporate Events
Regulatory Filings and Compliance
Filtronic Directors Trim Holdings but Retain Significant Stakes After Share Sales
Neutral
Apr 9, 2026
Filtronic plc has disclosed that Chief Financial Officer Michael Tyerman sold 240,631 ordinary shares at 205p each, while retaining a beneficial interest in 250,000 shares and options over 1,370,012 shares that are scheduled to vest in 2026 subjec...
Business Operations and Strategy
Filtronic Wins New Defence Contract, Strengthening Position in Wideband RF Market
Positive
Apr 1, 2026
Filtronic plc, a specialist in advanced RF and microelectronics for mission-critical communication networks, operates globally from Sedgefield, UK, and is listed on AIM. With more than 45 years of experience, extensive patents and state-of-the-art...
Business Operations and StrategyProduct-Related Announcements
Filtronic Wins $8m US Contract to Expand Satellite Communications Amplifier Range
Positive
Mar 26, 2026
Filtronic plc has secured an $8m (£6m) contract from a US company to design, develop, manufacture and qualify a range of high-performance system-level amplifier products, with work starting in March 2026 and running through 2027. The deal lev...
Business Operations and Strategy
Filtronic Shifts Registered Office to NETPark Tech Hub in Sedgefield
Positive
Mar 2, 2026
Filtronic plc, the AIM-quoted RF and microelectronics specialist serving space, aerospace, defence and telecoms infrastructure markets, has announced a change to its registered office address, which is now located at 1 Rosalind Franklin Way in NET...
Other
Filtronic Discloses 5.91% Shareholding Acquired by Investor Dixon
Neutral
Feb 9, 2026
Filtronic plc has disclosed that investor Mrs D.M. Dixon now holds 13,000,000 ordinary shares in the company, representing 5.91% of its issued share capital. The stake positions Dixon as a significant shareholder, a development that may influence ...
Business Operations and StrategyFinancial Disclosures
Filtronic Balances Profit Dip With Record Order Book After Heavy Growth Investment
Positive
Feb 3, 2026
Filtronic reported half-year 2026 results broadly in line with expectations, with revenue steady at £25.3m but profit and EBITDA down year-on-year as the company deliberately increased investment in people, facilities and product development ...
Business Operations and Strategy
Filtronic Adds Berenberg as Joint Corporate Broker to Bolster Market Support
Positive
Jan 29, 2026
Filtronic plc has appointed Joh. Berenberg, Gossler Co. KG, London Branch, as a Joint Corporate Broker alongside its existing Nominated Adviser and broker Cavendish Capital Markets Limited. The move strengthens Filtronic’s capital markets s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.