Hardide PLC (GB:HDD)
LSE:HDD
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Hardide
(LSE:HDD)
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Rating:56Neutral
Price Target:
79.00 p
▲(345.07% Upside)
Action:Reiterated
Date:06/03/26
The score is driven primarily by improving financial performance from a FY2025 turnaround (growth, return to profit, and positive free cash flow), tempered by higher leverage and still-thin margins. Technicals are strong but overbought, and valuation is a key headwind due to the elevated P/E with no dividend support.
Positive Factors
Revenue turnaround and return to profitability
A 50% revenue increase and return to profit in FY2025 indicate renewed product demand and successful commercial traction for Hardide's coatings. This durable improvement supports reinvestment in capacity and R&D, reduces reliance on emergency financing, and underpins longer-term scalability if growth persists.
Negative Factors
Rising leverage reduces financial flexibility
Higher debt-to-equity (≈1.06) tightens financial headroom for a small industrial coatings specialist. If growth slows or margins compress, interest and principal obligations could force difficult trade-offs (defer capex, delay qualifications) or require dilutive financing, increasing long-term execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue turnaround and return to profitability
A 50% revenue increase and return to profit in FY2025 indicate renewed product demand and successful commercial traction for Hardide's coatings. This durable improvement supports reinvestment in capacity and R&D, reduces reliance on emergency financing, and underpins longer-term scalability if growth persists.
Read all positive factors
Hardide (HDD) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£58.72M
Dividend YieldN/A
Average Volume (3M)232.92K
Price to Earnings (P/E)41.3
Beta (1Y)0.51
Revenue Growth48.07%
EPS GrowthN/A
CountryUK
Employees38
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.02
Shares Outstanding78,812,750
10 Day Avg. Volume107,940
30 Day Avg. Volume232,917
Financial Highlights & Ratios
PEG Ratio-0.29
Price to Book (P/B)1.50
Price to Sales (P/S)0.96
P/FCF Ratio9.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.03
Revenue Forecast (FY)£12.40M
Hardide Business Overview & Revenue Model
Company Description
Operating globally, Hardide plc specializes in the development and supply of cutting-edge tungsten carbide/tungsten metal matrix composite coatings. These high-performance products serve a wide array of critical industries, including energy, aeros...
How the Company Makes Money
Hardide makes money primarily by providing coating services (and related surface-engineering services) to customers who supply components that require Hardide’s proprietary tungsten carbide coating for enhanced wear/corrosion performance. Revenue ...
Hardide Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
50
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.42M | 6.03M | 4.73M | 5.50M | 5.01M | 3.60M |
| Gross Profit | 4.71M | 2.69M | 2.28M | 2.61M | 1.88M | 1.31M |
| EBITDA | 2.53M | 1.03M | -363.00K | -165.00K | -937.00K | -1.69M |
| Net Income | 1.47M | 178.00K | -1.32M | -1.12M | -2.19M | -2.80M |
Balance Sheet | ||||||
| Total Assets | 8.71M | 7.61M | 7.75M | 8.40M | 9.73M | 10.76M |
| Cash, Cash Equivalents and Short-Term Investments | 1.49M | 827.00K | 700.00K | 740.00K | 693.00K | 1.54M |
| Total Debt | 2.22M | 4.09M | 2.81M | 3.05M | 2.96M | 2.95M |
| Total Liabilities | 3.55M | 3.73M | 4.09M | 4.11M | 4.21M | 3.84M |
| Stockholders Equity | 5.17M | 3.88M | 3.66M | 4.29M | 5.53M | 6.91M |
Cash Flow | ||||||
| Free Cash Flow | 904.00K | 594.00K | -486.00K | 56.00K | -1.31M | -2.25M |
| Operating Cash Flow | 1.11M | 663.00K | -422.00K | 166.00K | -1.01M | -1.94M |
| Investing Cash Flow | -207.00K | -69.00K | -64.00K | -110.00K | -292.00K | -299.00K |
| Financing Cash Flow | -399.00K | -449.00K | 434.00K | -98.00K | 322.00K | 943.00K |
Hardide Technical Analysis
Positive
17.75
Price Trends
47.45
Positive
38.09
Positive
24.34
Positive
Market Momentum
7.31
Negative
70.91
Negative
89.91
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HDD, the sentiment is Positive. The current price of 17.75 is below the 20-day moving average (MA) of 64.13, below the 50-day MA of 47.45, and below the 200-day MA of 24.34, indicating a bullish trend. The MACD of 7.31 indicates Negative momentum. The RSI at 70.91 is Negative, neither overbought nor oversold. The STOCH value of 89.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:HDD.
Hardide Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | £894.25M | -25.84 | -6.85% | 1.34% | -21.51% | 7.34% | |
56 Neutral | £58.72M | 41.31 | 32.49% | ― | 48.07% | ― | |
54 Neutral | £187.88M | -1.15 | -16.66% | ― | -12.46% | -116.21% | |
41 Neutral | £25.27M | -1.50 | ― | ― | ― | ― |
* Basic Materials Sector Average
GB:HDD
Hardide
74.50
66.25
803.03%
GB:ELM
Elementis
156.40
5.58
3.70%
GB:HAYD
Haydale Graphene
0.33
-0.25
-43.97%
GB:SYNT
Synthomer
114.60
12.60
12.35%
Hardide Corporate Events
Business Operations and StrategyFinancial Disclosures
Hardide Wins £2.4m North American Energy Contract, Lifting FY26 Outlook
Positive
May 27, 2026
Hardide has secured £2.4m of orders from a major North American energy sector customer covering the remainder of its financial year to 30 September 2026, exceeding the board’s prior expectations and materially improving revenue and perf...
Business Operations and StrategyFinancial Disclosures
Hardide posts record H1 as energy demand and efficiency gains boost profits
Positive
May 21, 2026
Hardide reported a record first half for the six months to 31 March 2026, with revenue up 71% to £4.8m, gross margins rising to 65% and operating profit reaching £1.3m, translating into positive earnings per share. Growth was driven prim...
Business Operations and StrategyFinancial Disclosures
Hardide Lifts FY26 Outlook After £1.8m North American Energy Order
Positive
Apr 28, 2026
Hardide plc has secured an additional £1.8 million of orders from a major North American energy customer, to be delivered by the end of its 2026 financial year, prompting the Board to forecast revenues and financial performance materially ahe...
Business Operations and StrategyShareholder Meetings
Hardide Shareholders Back All Resolutions at Annual General Meeting
Positive
Mar 24, 2026
Hardide plc, the AIM-quoted advanced surface coatings specialist, reported that all resolutions at its latest annual general meeting were approved by shareholders. The AGM outcome supports continuity of the current board and strategy, underpinning...
Business Operations and StrategyFinancial Disclosures
Hardide lifts first-half revenues over 50% as new contracts boost outlook
Positive
Mar 24, 2026
Hardide plc reported strong year-to-date trading, expecting first-half FY26 revenues of about £4.5m, more than 50% higher than a year earlier, and EBITDA of around £1.3m with operating margins near 20%, driven by a series of contract win...
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.