IP Group PLC (GB:IPO)
LSE:IPO
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IP Group plc
(LSE:IPO)
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Rating:61Neutral
Price Target:
72.00 p
▲(24.78% Upside)
Action:Reiterated
Date:04/16/26
The score is held back primarily by volatile operating performance and weak, inconsistent cash generation despite a 2025 profitability rebound. This is partially offset by a resilient balance sheet, constructive price momentum above key moving averages, and a relatively low P/E valuation.
Positive Factors
Resilient Balance Sheet
Low leverage and a large equity base provide financial flexibility for a VC-style investor: it cushions valuation swings, enables continued follow-on support for portfolio companies during downturns, and reduces refinancing pressure, supporting durable capital allocation over months.
Negative Factors
Weak Cash Generation
Persistent negative operating cash flow undermines earnings quality for a portfolio investor: realised profits may be driven by non-cash fair value gains, forcing dependence on financing or asset sales to fund operations and follow-ons, reducing resilience over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Resilient Balance Sheet
Low leverage and a large equity base provide financial flexibility for a VC-style investor: it cushions valuation swings, enables continued follow-on support for portfolio companies during downturns, and reduces refinancing pressure, supporting durable capital allocation over months.
Read all positive factors
IP Group plc (IPO) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£575.11M
Dividend YieldN/A
Average Volume (3M)2.98M
Price to Earnings (P/E)8.6
Beta (1Y)1.24
Revenue Growth-35.12%
EPS GrowthN/A
CountryUK
Employees69
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.07
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 Ratio-27.59
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)0.07
Revenue Forecast (FY)£78.27M
IP Group plc Business Overview & Revenue Model
Company Description
IP Group Plc functions as a private equity and venture capital enterprise, allocating funds across the entire lifecycle of businesses, from initial seed and early-stage rounds to start-up, incubation, growth capital, and mature financing. A specif...
How the Company Makes Money
IP Group primarily makes money through returns generated from its investment portfolio. Key revenue and value-realisation mechanisms include: (1) Exits/realisation events: selling equity stakes in portfolio companies via trade sales, mergers, seco...
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 | -206.10M | -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 | -19.60M | -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
63.86
Positive
59.42
Positive
58.70
Positive
Market Momentum
0.30
Positive
47.66
Neutral
39.09
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 below the 20-day moving average (MA) of 66.59, below the 50-day MA of 63.86, and below the 200-day MA of 58.70, indicating a neutral trend. The MACD of 0.30 indicates Positive momentum. The RSI at 47.66 is Neutral, neither overbought nor oversold. The STOCH value of 39.09 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 | £475.19M | 12.29 | 44.99% | 5.73% | 10.71% | 29.94% | |
72 Outperform | £102.79M | 12.25 | 30.24% | 8.61% | -4.14% | -16.56% | |
70 Outperform | £994.88M | 9.48 | 8.51% | ― | 11.00% | ― | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | £123.62M | 37.58 | 1.79% | 3.29% | -9.37% | ― | |
61 Neutral | £575.11M | 8.58 | 7.16% | ― | -35.12% | ― | |
53 Neutral | £848.11M | -102.96 | -0.66% | 2.47% | -88.06% | -107.88% |
* Financial Sector Average
GB:IPO
IP Group plc
64.70
17.00
35.64%
GB:GROW
Molten Ventures
582.50
290.30
99.35%
GB:MERC
Mercia Asset Management
29.25
-0.33
-1.12%
GB:REC
Record plc
47.00
-6.74
-12.54%
GB:FSG
Foresight Group Holdings Ltd.
424.00
42.13
11.03%
GB:ICGT
ICG Enterprise Trust PLC GBP
1,396.00
58.91
4.41%
IP Group plc Corporate Events
Business Operations and Strategy
IP Group portfolio firm Istesso advances Phase 2 trial of regenerative drug
Positive
Jun 16, 2026
IP Group has highlighted progress at portfolio company Istesso, which has begun dosing patients in a Phase 2 trial of its lead drug candidate leramistat for sarcopenia linked to rheumatoid arthritis. The study, run with Newcastle University, Newca...
Regulatory Filings and ComplianceShareholder Meetings
IP Group Sets June Date and Hybrid Access for 2026 AGM
Neutral
May 13, 2026
IP Group plc has published its 2026 Notice of Annual General Meeting, along with proposed new articles of association, and has made these documents available to shareholders both in hard copy and electronically via its website and the UK national ...
Business Operations and StrategyProduct-Related Announcements
IP Group portfolio firm posts positive Phase 2 cystic fibrosis data
Positive
May 12, 2026
IP Group portfolio company Enterprise Therapeutics has reported positive Phase 2 trial results for ETD001, its lead inhaled therapy targeting the 10% of cystic fibrosis patients with the greatest unmet need. The 28-day study met its primary effica...
Business Operations and StrategyExecutive/Board Changes
IP Group names former 3i chief Michael Queen as chair designate
Positive
May 7, 2026
IP Group plc, a UK-listed early-stage science and technology investor, concentrates on healthtech, deeptech and cleantech, primarily funding innovation spun out of universities and research institutions. Through its specialist investment teams and...
Business Operations and StrategyExecutive/Board Changes
IP Group Releases Deferred Bonus Share Awards to Senior Management
Positive
Apr 23, 2026
IP Group plc has released 168,957 ordinary shares under its employee share schemes, delivering deferred bonus awards to its executive directors and a senior manager tied to partially deferred annual bonuses for the 2023 and 2024 financial years. T...
Business Operations and StrategyPrivate Placements and Financing
IP Group portfolio company First Light Fusion secures £25m to advance inertial fusion energy concept
Positive
Apr 21, 2026
IP Group plc, a London-listed investor focused on early-stage healthtech, deeptech and cleantech businesses, has built a portfolio of high-impact science ventures drawn from universities and research institutions. Through its own balance sheet and...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
IP Group Publishes 2025 Annual Report and Sets June AGM
Neutral
Apr 15, 2026
IP Group plc has released its Annual Report and Accounts for the year ended 31 December 2025, making the document available online via its investor relations site and through the UK’s national storage mechanism. Printed versions are being ma...
Business Operations and StrategyPrivate Placements and Financing
IP Group launches A$150m Climate Catalyst Fund with CEFC to scale Australian cleantech
Positive
Mar 30, 2026
IP Group has launched the Climate Catalyst Fund in partnership with Australia’s Clean Energy Finance Corporation to back early-stage Australian cleantech companies targeting hard-to-abate sectors such as cement, steel, heavy transport and di...
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...
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.