Molten Ventures (GB:GROW)
LSE:GROW
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Molten Ventures
(LSE:GROW)
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Rating:70Outperform
Price Target:
684.00 p
▲(44.49% Upside)
Action:Upgraded
Date:06/12/26
The score is led by improved fundamentals and a low-leverage balance sheet, supported by strong technical momentum and a relatively low P/E. The main constraint is the company’s history of volatile results and inconsistent cash flow, while the latest earnings call was broadly constructive despite sector headwinds and some write-downs.
Positive Factors
Conservative balance sheet / low leverage
Low leverage and a large equity base provide durable financial flexibility: supports follow-on investments, secondary purchases and buybacks, and cushions valuation shocks. This capital structure reduces refinancing risk and preserves ability to deploy capital through market cycles.
Negative Factors
Inconsistent cash generation
Volatile and historically negative operating/free cash flow undermines the firm's ability to reliably fund follow-ons or opportunistic purchases. This inconsistency can force value-destructive realizations or greater dependence on capital raises during adverse market windows.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low leverage
Low leverage and a large equity base provide durable financial flexibility: supports follow-on investments, secondary purchases and buybacks, and cushions valuation shocks. This capital structure reduces refinancing risk and preserves ability to deploy capital through market cycles.
Read all positive factors
Molten Ventures (GROW) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£994.88M
Dividend YieldN/A
Average Volume (3M)699.80K
Price to Earnings (P/E)9.5
Beta (1Y)1.87
Revenue Growth11.00%
EPS GrowthN/A
CountryUK
Employees60
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.62
Shares Outstanding173,953,750
10 Day Avg. Volume615,595
30 Day Avg. Volume699,798
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.60
Price to Sales (P/S)4.98
P/FCF Ratio77.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£833.50Price Target Upside76.07% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1
Revenue Forecast (FY)£244.05M
Molten Ventures Business Overview & Revenue Model
Company Description
Molten Ventures Plc, formerly known as Draper Esprit plc, is a private equity and venture capital firm that deploys capital across the entire business lifecycle. This includes early-stage investments such as seed and Series A funding, growth capit...
How the Company Makes Money
Molten Ventures makes money primarily through investment returns from its venture capital portfolio rather than through operating revenue from selling products or services. Its key economic drivers are: (1) Realised gains on exits: when a portfoli...
Molten Ventures Earnings Call Summary
Earnings Call Date:Nov 25, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 25, 2026
Earnings Call Sentiment Positive
The earnings call highlighted several positive developments, including exceeding growth and realization targets, strong financial results, effective cost management, and a strong balance sheet. However, there were challenges in the SaaS sector and some portfolio write-downs. Overall, the sentiment is positive.Positive Updates
Exceeded Growth and Realization Targets
Molten Ventures achieved a 26% growth in portfolio fair value, exceeding their 20% target, and realizations of 14% versus the 10% target.
Negative Updates
Market Challenges in SaaS
SaaS and consumer sectors faced challenges, impacting overall market comps negatively.
Read all updates
Q2-2026 Updates
Positive
Negative
Exceeded Growth and Realization Targets
Molten Ventures achieved a 26% growth in portfolio fair value, exceeding their 20% target, and realizations of 14% versus the 10% target.
Read all positive updates
Company Guidance
During the call, Molten Ventures provided detailed financial guidance and performance metrics for the first half of fiscal year 2026. The company reported a 6% uplift in Gross Portfolio Value (GPV) to NAV, with GPV reaching GBP 1.4 billion and NAV at GBP 1.3 billion. Realizations were slightly ahead of investments, contributing GBP 62 million at half-year and GBP 87 million year-to-date, with significant drivers being partial realizations of Revolut. Molten Ventures deployed GBP 33 million in the first half and plans to target GBP 95 million to GBP 100 million in total capital deployment for the year. They also completed GBP 19 million in share buybacks, adding approximately 14p to NAV per share, and announced a further GBP 10 million extension, totaling GBP 50 million committed so far. Operating costs were reduced by 8%, standing at GBP 12.1 million, with a focus on technology efficiencies and headcount adjustments. The overall balance sheet remained strong, ending the period with GBP 77 million in cash and additional funds available from EIS and VCT investments. The company reiterated its strategic focus on Series A and Series B investments, co-investment capital growth, and a narrower fund-to-fund commitment, with a continued emphasis on NAV accretive capital use, including secondaries and buybacks.Molten Ventures Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
78
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 57.60M | 160.20M | 44.40M | -47.80M | 45.50M | 350.90M |
| Gross Profit | 57.40M | 148.00M | 31.70M | -47.80M | 44.70M | 349.50M |
| EBITDA | 79.30M | 122.10M | 500.00K | -49.90M | -283.00M | 325.80M |
| Net Income | 111.20M | 120.30M | -800.00K | -40.60M | -243.40M | 300.70M |
Balance Sheet | ||||||
| Total Assets | 1.43B | 1.48B | 1.38B | 1.36B | 1.32B | 1.50B |
| Cash, Cash Equivalents and Short-Term Investments | 77.00M | 51.70M | 89.00M | 57.00M | 22.90M | 75.80M |
| Total Debt | 121.20M | 130.80M | 121.30M | 89.40M | 89.30M | 30.40M |
| Total Liabilities | 141.20M | 157.20M | 147.20M | 110.50M | 121.70M | 71.10M |
| Stockholders Equity | 1.29B | 1.32B | 1.24B | 1.25B | 1.19B | 1.43B |
Cash Flow | ||||||
| Free Cash Flow | -200.00K | 10.30M | 33.50M | -22.00M | -24.80M | -28.20M |
| Operating Cash Flow | 100.00K | 10.50M | 33.90M | -22.00M | -24.80M | -28.10M |
| Investing Cash Flow | 65.10M | -200.00K | -400.00K | 12.00M | -90.10M | -185.00M |
| Financing Cash Flow | -27.20M | -47.60M | -1.70M | 44.30M | 51.10M | 128.10M |
Molten Ventures Technical Analysis
Neutral
473.40
Price Trends
569.71
Positive
518.64
Positive
481.34
Positive
Market Momentum
9.60
Positive
48.21
Neutral
41.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:GROW, the sentiment is Neutral. The current price of 473.4 is below the 20-day moving average (MA) of 594.18, below the 50-day MA of 569.71, and below the 200-day MA of 481.34, indicating a neutral trend. The MACD of 9.60 indicates Positive momentum. The RSI at 48.21 is Neutral, neither overbought nor oversold. The STOCH value of 41.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:GROW.
Molten Ventures Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £475.19M | 12.29 | 44.99% | 5.73% | 10.71% | 29.94% | |
72 Outperform | £22.67B | 4.32 | 17.91% | 2.44% | -25.49% | 3.34% | |
70 Outperform | £994.88M | 9.48 | 8.51% | ― | 11.00% | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | £575.11M | 8.58 | 7.16% | ― | -35.12% | ― | |
54 Neutral | £2.14B | 49.53 | 4.25% | 2.85% | 47.14% | -37.72% | |
53 Neutral | £848.11M | -102.96 | -0.66% | 2.47% | -88.06% | -107.88% |
* Financial Sector Average
GB:GROW
Molten Ventures
582.50
294.50
102.26%
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Molten Ventures Corporate Events
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Molten Ventures Publishes 2026 Annual Report and Sets July AGM
Neutral
Jun 9, 2026
Molten Ventures has published its Annual Report and Accounts for the year ended 31 March 2026, alongside the Notice of Annual General Meeting and Form of Proxy, all now available on its investor relations website. The documents have also been subm...
Business Operations and StrategyStock BuybackFinancial Disclosures
Molten Ventures posts strong NAV growth as it scales European tech platform
Positive
Jun 9, 2026
Molten Ventures reported strong full-year results to 31 March 2026, with gross portfolio value rising to £1.53 billion, net assets increasing to £1.32 billion and NAV per share climbing to 760p, driven by a 13% net fair value uplift and ...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Molten Ventures’ ICEYE Stake Soars After €10bn Series F Valuation
Positive
Jun 9, 2026
Molten Ventures has reported a sharp uplift in the value of its holding in ICEYE, after the Finnish satellite intelligence specialist completed a Series F funding round that values the business at more than €10 billion. ICEYE, which operates...
Business Operations and Strategy
Molten Ventures Issues May 2026 Portfolio Update Newsletter
Positive
Jun 8, 2026
Molten Ventures has released its Monthly Portfolio Update Newsletter for May 2026, providing investors and other stakeholders with an overview of key developments across its portfolio of high-growth digital technology businesses. The update highli...
Business Operations and StrategyStock BuybackFinancial Disclosures
Molten Ventures Banks £63m from Further Revolut Sell-Down
Positive
May 18, 2026
Molten Ventures has executed a further partial realisation of its stake in fintech unicorn Revolut, raising about £63 million and taking total proceeds from the investment to roughly £120 million at an approximate 20x multiple on investe...
Business Operations and Strategy
Molten Ventures issues April portfolio update to boost investor visibility
Positive
May 7, 2026
Molten Ventures has published its Monthly Portfolio Update Newsletter for April 2026, offering investors and other stakeholders a snapshot of recent funding rounds, operational progress, and news from its portfolio of high-growth technology compan...
Regulatory Filings and Compliance
Molten Ventures Updates Share Capital and Total Voting Rights
Neutral
May 1, 2026
Molten Ventures has confirmed its latest share capital and voting rights structure, reporting 189,046,450 ordinary shares in issue, of which 15,092,698 are held in treasury. This leaves 173,953,752 ordinary shares carrying voting rights, a figure ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Molten Ventures Updates Market on Latest Share Buyback Activity
Positive
Apr 27, 2026
Molten Ventures has continued its share repurchase programme, with Deutsche Bank’s Deutsche Numis unit buying 15,000 of the company’s ordinary shares on 20 April 2026 on its behalf. The buyback modestly reduces the free float and is pa...
Business Operations and StrategyStock BuybackFinancial Disclosures
Molten Ventures lifts NAV and portfolio value as tech holdings and buybacks drive returns
Positive
Apr 27, 2026
Molten Ventures reported double‑digit growth in both net asset value per share and gross portfolio value for the year to 31 March 2026, driven by strong performance and funding rounds in core holdings such as Revolut, ICEYE, Ledger and River...
Stock BuybackRegulatory Filings and Compliance
Molten Ventures Tightens Free Float with Further Share Buybacks
Positive
Apr 13, 2026
Molten Ventures has continued to execute its previously announced share buyback, with Deutsche Numis purchasing a total of 60,000 ordinary shares between 7 and 10 April 2026 at volume-weighted average prices ranging from roughly 468p to 486p. Foll...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Molten Ventures Continues Share Buyback, Updates Voting Rights
Positive
Apr 7, 2026
Molten Ventures plc has continued its previously announced share repurchase programme, buying back 62,522 ordinary shares between 30 March and 2 April 2026 through Deutsche Bank’s Deutsche Numis arm. Purchase prices ranged around the mid-440...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Molten Ventures Buys Back Shares and Shifts to Weekly Buyback Reporting
Positive
Mar 30, 2026
Molten Ventures has repurchased 20,000 of its own ordinary shares on 27 March 2026 through Deutsche Numis, at prices between 446.20p and 451.20p and a volume-weighted average of 448.7134p, under its ongoing share buyback programme. Following the t...
Stock BuybackRegulatory Filings and Compliance
Molten Ventures buys back 25,000 shares under ongoing repurchase programme
Positive
Mar 27, 2026
Molten Ventures has repurchased 25,000 of its own ordinary shares on 26 March 2026 through Deutsche Bank’s Deutsche Numis unit, as part of the share buyback programme launched in January. The shares were bought at prices between 448.80p and ...
Stock BuybackRegulatory Filings and Compliance
Molten Ventures Buys Back 25,000 Shares Under Ongoing Repurchase Programme
Positive
Mar 25, 2026
Molten Ventures has continued its previously announced share buyback programme, mandating Deutsche Bank’s Deutsche Numis unit to repurchase 25,000 ordinary shares on 24 March 2026. The trades were executed between 444.20p and 452.80p per sha...
Stock BuybackRegulatory Filings and Compliance
Molten Ventures Updates Share Count After Latest Buyback Tranche
Positive
Mar 24, 2026
Molten Ventures has continued its previously announced share buyback programme, with Deutsche Bank’s Deutsche Numis unit repurchasing 20,000 ordinary shares on 23 March 2026 at a volume-weighted average price of about 451.7p. Following the l...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Molten Ventures Continues Share Buyback, Updates Voting Rights
Positive
Mar 23, 2026
Molten Ventures has continued its previously announced share buyback programme, with Deutsche Bank’s Deutsche Numis unit repurchasing 20,000 ordinary shares on its behalf on 20 March 2026 at a volume-weighted average price of 463.0614 pence....
Stock Buyback
Molten Ventures Extends Buyback With 25,000-Share Repurchase
Neutral
Mar 20, 2026
Molten Ventures has continued its share buyback programme, with Deutsche Bank’s Deutsche Numis unit repurchasing 25,000 ordinary shares in the venture capital group on 19 March 2026 at a volume-weighted average price of 460.9186p. Following ...
Stock BuybackRegulatory Filings and Compliance
Molten Ventures Continues Share Buyback with 20,000-Share Repurchase
Positive
Mar 18, 2026
Molten Ventures, the London-listed European venture capital firm focused on high-growth technology sectors including Enterprise SaaS, AI and Deeptech, Consumer Technology and Digital Health, continues to provide public investors with access to a ...
Stock BuybackRegulatory Filings and Compliance
Molten Ventures Buys Back 20,000 Shares, Updates Voting Rights
Positive
Mar 17, 2026
Molten Ventures has repurchased 20,000 of its own ordinary shares on the London Stock Exchange as part of the buyback programme launched in January, paying a volume‑weighted average price of 459.29p. Following the transaction, the company...
Stock BuybackRegulatory Filings and Compliance
Molten Ventures Advances Share Buyback, Updates Voting Share Count
Positive
Mar 16, 2026
Molten Ventures has continued its previously announced share buyback programme, with Deutsche Bank’s London branch acquiring 20,000 ordinary shares in the company on 13 March 2026 at prices between 451.20p and 468.80p, for an average of 462....
Stock BuybackRegulatory Filings and Compliance
Molten Ventures Buys Back 20,000 Shares Under Ongoing Repurchase Programme
Neutral
Mar 13, 2026
Molten Ventures has continued its previously announced share repurchase programme, buying 20,000 of its own ordinary shares on 12 March 2026 through Deutsche Bank’s Deutsche Numis unit. The shares were acquired at prices between 447.40p and ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Molten Ventures Repurchases Shares as Part of Ongoing Buyback Programme
Positive
Mar 12, 2026
Molten Ventures has continued its previously announced share buyback programme, with Deutsche Bank’s Deutsche Numis unit repurchasing 25,000 ordinary shares on 11 March 2026 at a volume-weighted average price of about 455.9p. Following this ...
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.