IP Group PLC (GB:IPO)
LSE:IPO
Top Page
IP Group plc
(LSE:IPO)
Select Model
Select Model
Rating:50Neutral
Price Target:
53.00 p
▼(-8.15% Downside)
Action:ReiteratedDate:03/19/26
The score is held back primarily by volatile operating performance and persistently weak cash generation despite a 2025 profitability rebound, while the balance sheet provides stability but not enough to offset cash-flow concerns. Technicals are also soft with the stock below longer-term moving averages and negative MACD. These are partially balanced by a low P/E valuation and a mixed-but-constructive earnings update featuring portfolio progress, higher proceeds, and ongoing buybacks.
Positive Factors
Strong liquidity buffer
A gross cash balance of GBP 237m and materially higher cash proceeds provide durable financial flexibility to support follow-on funding, bridge portfolio companies through development cycles, and pursue exits without forced disposals. This liquidity underpins operations and strategic optionality over months.
Negative Factors
Weak cash generation
Persistent negative operating cash flow across multiple years implies reported profits are often not cash-backed, increasing reliance on asset sales, fair-value uplifts or external funding. Weak cash convertibility limits reinvestment capacity and heightens sensitivity to market exits over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity buffer
A gross cash balance of GBP 237m and materially higher cash proceeds provide durable financial flexibility to support follow-on funding, bridge portfolio companies through development cycles, and pursue exits without forced disposals. This liquidity underpins operations and strategic optionality over months.
Read all positive factors
IP Group plc (IPO) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£477.93M
Dividend YieldN/A
Average Volume (3M)2.98M
Price to Earnings (P/E)8.1
Beta (1Y)1.31
Revenue GrowthN/A
EPS Growth33.10%
CountryUK
Employees69
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.12
Shares Outstanding883,427,600
10 Day Avg. Volume3,376,057
30 Day Avg. Volume2,975,893
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)0.55
Price to Sales (P/S)12.04
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£105.00Price Target Upside81.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.06
Revenue Forecast (FY)£63.70M
IP Group plc Business Overview & Revenue Model
Company Description
IP Group Plc is a private equity and venture capital firm specializing in seed, early stage, start-up, incubation, growth capital, and mature financing. The firm also provides seed capital financing to spin out companies from the universities. It ...
How the Company Makes Money
IP Group primarily makes money through returns generated from its investment portfolio rather than through operating revenue from selling products itself. Key earnings drivers include: (1) Realisations and exits: profits from selling equity stakes...
IP Group plc Earnings Call Summary
Earnings Call Date:Sep 17, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a mixed sentiment with strong progress in portfolio developments and increased cash proceeds offset by specific challenges in individual holdings and a foreign exchange loss. The management expressed confidence in meeting future targets and highlighted strategic buybacks as an accretive tool for shareholder value.Positive Updates
Strong Portfolio Developments
Four out of the top five holdings showed encouraging developments, including the successful IPO of Hinge Health, which marked a 50x overall return on investment, and Oxford Nanopore beating city expectations.
Negative Updates
Istesso Trial Setback
Istesso's recent trial did not meet its primary endpoint, impacting market confidence despite evidence of the drug's potential.
Read all updates
Q2-2025 Updates
Positive
Negative
Strong Portfolio Developments
Four out of the top five holdings showed encouraging developments, including the successful IPO of Hinge Health, which marked a 50x overall return on investment, and Oxford Nanopore beating city expectations.
Read all positive updates
Company Guidance
In the first half of 2025, IP Group Plc reported strong progress, driven by notable developments in their portfolio and public markets contributing significantly to fair value. Key highlights included a successful IPO of Hinge Health in May and strong half-year results from Oxford Nanopore, which exceeded city expectations. The company recorded total cash proceeds of GBP 30 million, a ninefold increase compared to the first half of 2024. Although there was a small overall loss for the first six months, the NAV per share stabilized and increased to approximately GBP 1 post-period. The company remains confident in achieving its target of GBP 250 million in exits by the end of 2027, supported by a strong balance sheet with gross cash of GBP 237 million. Additionally, there is increasing momentum in efforts to enhance private scale-up capital under management, with expectations to secure at least one new mandate by the next full-year results.IP Group plc Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
72
Positive
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 44.90M | -179.50M | -154.60M | -700.00K | 95.10M |
| Gross Profit | 44.40M | -179.50M | -154.60M | -302.00M | 490.40M |
| EBITDA | 71.70M | 0.00 | -179.90M | -343.70M | 461.40M |
| Net Income | 66.80M | -205.60M | -171.30M | -341.50M | 448.50M |
Balance Sheet | |||||
| Total Assets | 1.10B | 1.15B | 1.41B | 1.56B | 1.88B |
| Cash, Cash Equivalents and Short-Term Investments | 16.50M | 285.60M | 226.90M | 241.50M | 321.90M |
| Total Debt | 119.70M | 150.00M | 156.40M | 101.80M | 71.80M |
| Total Liabilities | 123.50M | 198.70M | 221.30M | 181.70M | 141.20M |
| Stockholders Equity | 975.10M | 966.00M | 1.20B | 1.38B | 1.74B |
Cash Flow | |||||
| Free Cash Flow | 0.00 | -25.10M | -17.90M | -23.80M | 10.30M |
| Operating Cash Flow | -14.50M | -25.10M | -17.90M | -23.50M | 10.50M |
| Investing Cash Flow | -32.10M | 82.90M | -4.40M | -2.30M | 26.30M |
| Financing Cash Flow | -52.50M | -42.90M | 34.70M | 8.80M | -58.30M |
IP Group plc Technical Analysis
Neutral
57.70
Price Trends
55.11
Negative
57.28
Negative
56.85
Negative
Market Momentum
-0.18
Negative
53.16
Neutral
59.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:IPO, the sentiment is Neutral. The current price of 57.7 is above the 20-day moving average (MA) of 51.82, above the 50-day MA of 55.11, and above the 200-day MA of 56.85, indicating a neutral trend. The MACD of -0.18 indicates Negative momentum. The RSI at 53.16 is Neutral, neither overbought nor oversold. The STOCH value of 59.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:IPO.
IP Group plc Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | £408.79M | 7.48 | 44.99% | 5.73% | ― | ― | |
72 Outperform | £100.14M | 7.57 | 30.24% | 8.61% | -11.43% | -17.65% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | £116.86M | 21.20 | 1.79% | 3.29% | -9.37% | ― | |
66 Neutral | £823.83M | -13.06 | 5.07% | 2.47% | 66.53% | 100.92% | |
63 Neutral | £806.26M | 2.30 | 8.81% | ― | 11.00% | ― | |
50 Neutral | £477.93M | 8.09 | 7.16% | ― | ― | 33.10% |
* Financial Sector Average
GB:IPO
IP Group plc
54.10
19.30
55.46%
GB:GROW
Molten Ventures
467.60
240.00
105.45%
GB:MERC
Mercia Asset Management
27.50
4.90
21.68%
GB:REC
Record plc
52.80
4.99
10.44%
GB:FSG
Foresight Group Holdings Ltd.
362.50
70.06
23.96%
GB:ICGT
ICG Enterprise Trust PLC GBP
1,340.00
297.23
28.50%
IP Group plc Corporate Events
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
IP Group returns to profit as Pfizer deal and tech exits lift NAV and fund buybacks
Positive
Mar 17, 2026
IP Group plc reported a return to profitability in 2025 as net asset value per share rose 13% to 110.4p, driven largely by the recognition of £128.2m in discounted future royalty and milestone income following Pfizer’s acquisition of ob...
Business Operations and StrategyFinancial Disclosures
IP Group sets date for 2025 results and schedules online investor briefing
Neutral
Mar 12, 2026
IP Group plc, the UK based early stage science and technology investor, will publish its full-year results for the period ended 31 December 2025 on 17 March 2026 via the London Stock Exchange’s news service and its website. The timing unders...
Business Operations and StrategyPrivate Placements and Financing
IP Group boosts AI mobility exposure as Oxa raises $103m in Series D
Positive
Mar 4, 2026
IP Group said portfolio company Oxa Autonomy, a leader in autonomous vehicle technology, has completed the first close of its Series D funding with $103 million raised. The round was led by a $50 million commitment from the National Wealth Fund an...
Business Operations and StrategyProduct-Related Announcements
IP Group portfolio company Microbiotica posts strong Phase 1b data for ulcerative colitis drug
Positive
Feb 11, 2026
IP Group said its portfolio company Microbiotica has reported strong Phase 1b data for MB310, an oral precision microbiome therapy targeting ulcerative colitis. Microbiotica develops live biotherapeutic products designed to modulate the gut microb...
Business Operations and StrategyFinancial Disclosures
IP Group Warns of Writedown After Pulmocide Halts Phase 3 Opelconazole Trial
Negative
Jan 7, 2026
IP Group has flagged a likely writedown in the value of its stake in Pulmocide after the portfolio company terminated its Opera-T Phase 3 trial of the antifungal treatment opelconazole in patients with refractory invasive pulmonary aspergillosis. ...
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.