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Iofina plc
(LSE:IOF)
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Rating:81Outperform
Price Target:
61.00 p
▲(96.77% Upside)
Action:Reiterated
Date:05/20/26
The score is driven primarily by solid financial fundamentals (growth and low leverage) and strong technical trend support, with valuation further boosted by a very low P/E. The main constraints are volatile free cash flow conversion and execution/financing risk from the elevated capex required to deliver management’s 2026–27 growth plan.
Positive Factors
Production & Revenue Growth
Sustained, multi-year volume growth demonstrates scalable upstream operations and growing market share in a global iodine market ~40k t. Higher volumes support durable revenue expansion, improve fixed-cost absorption, and underpin management's step-up to ~1,000 t run-rate and longer-term scale economics.
Negative Factors
Rising CapEx & Financing Risk
A large, near-term jump in capex increases execution and financing risk. If project timing, yields, or iodine prices falter, the need to deploy ~$45m and draw bank facilities could pressure liquidity, elevate leverage and constrain flexibility during the multi-year build-out.
Read all positive and negative factors
Positive Factors
Negative Factors
Production & Revenue Growth
Sustained, multi-year volume growth demonstrates scalable upstream operations and growing market share in a global iodine market ~40k t. Higher volumes support durable revenue expansion, improve fixed-cost absorption, and underpin management's step-up to ~1,000 t run-rate and longer-term scale economics.
Read all positive factors
Iofina plc (IOF) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£94.97M
Dividend YieldN/A
Average Volume (3M)188.59K
Price to Earnings (P/E)15.9
Beta (1Y)0.44
Revenue Growth18.25%
EPS Growth161.86%
CountryUK
Employees111
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.04
Shares Outstanding191,858,400
10 Day Avg. Volume227,450
30 Day Avg. Volume188,590
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)1.22
Price to Sales (P/S)1.00
P/FCF Ratio26.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£60.00Price Target Upside93.55% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.04
Revenue Forecast (FY)£70.39M
Iofina plc Business Overview & Revenue Model
Company Description
Iofina plc, together with its subsidiaries, explores for, develops, and produces iodine and halogen-based specialty chemical derivatives from oil and gas operations in North America, Asia, South America, Europe, and internationally. The company of...
How the Company Makes Money
Iofina makes money primarily by selling (1) elemental iodine and (2) iodine derivatives (downstream iodine-based specialty chemicals). Its core upstream revenue stream comes from producing iodine from brine streams at its U.S. facilities and selli...
Iofina plc Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Sep 18, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive operational and financial story: record production, strong revenue growth (+22%), higher realized iodine prices (+8%), record EBITDA ($11.8M), successful on-time/on-budget plant builds (IO#11) and a material step-up in scale anticipated from the Permian plant (150–220 tpa) that should push the run-rate toward ~1,000 tpa. Management has a clear roadmap to 2,000 tpa within 3–4 years and a disciplined capital approach, with a strengthened cash position (net cash $5.2M). Key risks include rising capex needs (~$45M over 2 years), working capital volatility and receivables concentration, customer concentration, and the need to draw on debt to accelerate growth. On balance, the positive drivers (production growth, pricing, project execution, profitability) outweigh the listed risks, provided execution and market conditions remain supportive.Positive Updates
Record Production of Crystalline Iodine
Iofina produced a record 743 metric tons of crystalline iodine in FY2025 (produced), and sold 780 metric tons (including shipments delayed from FY2024). Production has grown from ~500 t in 2022 to 743 t in 2025 (~+49%), and management expects a run-rate near 1,000 tpa once the Permian plant and IO#11 are fully ramped.
Negative Updates
Rising Capital Expenditure Requirements
CapEx requirements are increasing materially to support accelerated build-out: management indicated combined CapEx for 2026–27 rising from a prior combined $26M to ~$45M, and expect to draw on debt facilities to fund some of this expansion (execution and financing risk).
Read all updates
Q4-2025 Updates
Positive
Negative
Record Production of Crystalline Iodine
Iofina produced a record 743 metric tons of crystalline iodine in FY2025 (produced), and sold 780 metric tons (including shipments delayed from FY2024). Production has grown from ~500 t in 2022 to 743 t in 2025 (~+49%), and management expects a run-rate near 1,000 tpa once the Permian plant and IO#11 are fully ramped.
Read all positive updates
Company Guidance
Management guided that after a record 2025 (743 metric tons produced, 780 t sold) with revenue $66.5m (iodine $59.3m; non-iodine $7.2m), EBITDA $11.8m, cash $11.7m and net cash $5.2m, they expect a material step‑up in 2026: IO#11 (online July 2025; ~100 t/yr; capex ~$5.3m; ~3‑year payback) is in full year operation and the Permian plant (on budget at ~$8–9m, ~50,000 bbl capacity) is due Q3 2026 and modelled to produce 150–220 t/yr, lifting run‑rate to ~1,000 t/yr; H1 2026 production guidance was raised from 225–255 t to ~385 t. FY25 realized iodine price was $74.02/kg (vs $68.60/kg FY24), production costs rose only ~2% YoY, P,P&E rose to $37m, receivables were ~£18.9m, FY25 capex was ~£8.4m, one‑off government subsidies £2.1m (net ~£1.5m), and the company targets 2,000 t in 3–4 years (≈5% of the ~40,000 t global market) with 2026–27 CapEx plans rising to ~ $45m and selective use of bank facilities (bank debt shown $6.5m).Iofina plc Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 67.91M | 54.47M | 50.04M | 42.20M | 39.04M |
| Gross Profit | 15.22M | 13.24M | 15.65M | 15.83M | 10.73M |
| EBITDA | 12.06M | 7.65M | 10.64M | 12.07M | 7.13M |
| Net Income | 8.03M | 2.92M | 6.56M | 7.87M | 9.19M |
Balance Sheet | |||||
| Total Assets | 79.23M | 63.78M | 60.52M | 52.71M | 44.45M |
| Cash, Cash Equivalents and Short-Term Investments | 11.74M | 6.86M | 6.52M | 5.93M | 5.26M |
| Total Debt | 6.66M | 4.26M | 5.84M | 7.20M | 8.68M |
| Total Liabilities | 23.53M | 15.99M | 15.77M | 14.73M | 14.48M |
| Stockholders Equity | 55.70M | 47.79M | 44.75M | 37.97M | 29.96M |
Cash Flow | |||||
| Free Cash Flow | 2.54M | 2.02M | 2.34M | 2.46M | 6.41M |
| Operating Cash Flow | 11.10M | 11.53M | 8.57M | 5.55M | 7.89M |
| Investing Cash Flow | -8.56M | -9.34M | -6.10M | -3.07M | -1.47M |
| Financing Cash Flow | 2.43M | -1.85M | -1.88M | -1.81M | -4.64M |
Iofina plc Technical Analysis
Positive
31.00
Price Trends
45.79
Positive
35.74
Positive
29.84
Positive
Market Momentum
1.42
Positive
52.12
Neutral
9.54
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:IOF, the sentiment is Positive. The current price of 31 is below the 20-day moving average (MA) of 49.44, below the 50-day MA of 45.79, and above the 200-day MA of 29.84, indicating a bullish trend. The MACD of 1.42 indicates Positive momentum. The RSI at 52.12 is Neutral, neither overbought nor oversold. The STOCH value of 9.54 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:IOF.
Iofina plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | £94.97M | 15.95 | 14.89% | ― | 18.25% | 161.86% | |
66 Neutral | £4.19B | 67.39 | 2.82% | 3.45% | 4.38% | -60.87% | |
64 Neutral | £180.08M | 42.01 | 3.22% | 4.08% | -11.72% | -60.87% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | £897.57M | 22.18 | -6.85% | 1.34% | -21.51% | 7.34% | |
52 Neutral | £3.23B | -33.82 | -4.66% | 3.54% | 7.70% | -128.57% | |
46 Neutral | £129.19M | -0.86 | -16.66% | ― | -12.46% | -116.21% |
* Basic Materials Sector Average
GB:IOF
Iofina plc
49.50
25.25
104.12%
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Iofina plc Corporate Events
Business Operations and StrategyStock BuybackShareholder Meetings
Iofina Wins Strong Shareholder Backing at 2026 AGM
Positive
Jun 9, 2026
Iofina plc, the AIM-quoted iodine producer and specialty chemical manufacturer, reported that all resolutions at its 2026 Annual General Meeting were approved by shareholders with strong majorities. Investors backed the reappointment of directors ...
Business Operations and Strategy
Iofina to Boost IO#11 Iodine Output with New Brine Supply Deal
Positive
Jun 5, 2026
Iofina plc, a specialist in iodine exploration, production and halogen-based specialty chemicals, operates multiple IOsorb® extraction plants in Oklahoma and is expanding into the Permian Basin. The Group leverages proprietary WET® IOsor...
Business Operations and StrategyShareholder Meetings
Iofina Sets June Date for 2026 AGM as U.S. Iodine Expansion Advances
Positive
May 5, 2026
Iofina plc, a specialist in iodine production and halogen-based specialty chemicals listed on AIM, has scheduled its 2026 Annual General Meeting for 9 June 2026 at Canaccord Genuity’s London offices. The company will soon publish its Annual ...
Business Operations and StrategyFinancial Disclosures
Iofina Delivers Record 2025 Results and Accelerates Iodine Expansion
Positive
Apr 30, 2026
Iofina plc reported its eighth consecutive year of growth in 2025, with revenue rising 22% to $66.5m, driven by a 17% increase in crystalline iodine output to 743MT and a 42% jump in crystalline iodine sales. Profitability strengthened sharply, as...
Business Operations and StrategyFinancial Disclosures
Iofina lifts guidance after record Q1 iodine output and advances new Permian plant
Positive
Apr 15, 2026
Iofina plc reported a record first quarter, producing 178.9 metric tonnes of crystalline iodine in Q1 2026 from its eight IOsorb plants in Oklahoma, a 44% year-on-year increase driven by new capacity added in late 2025 and unusually warm brine tem...
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.