Ithaca Energy PLC (ITH) AI Stock Analysis

• Market Cap: £3.04B
• Dividend Yield: 14.05%
• Average Volume (3M): 1.38M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.06
• Revenue Growth: 63.10%
• EPS Growth: -161.03%
• Country: UK
• Employees: 657
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): 0.04
• Shares Outstanding: 1,653,732,400
• 10 Day Avg. Volume: 1,141,336
• 30 Day Avg. Volume: 1,380,523
• PEG Ratio: -0.28
• Price to Book (P/B): 0.53
• Price to Sales (P/S): 0.81
• P/FCF Ratio: 4.13
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £153.50
• Price Target Upside: -16.39% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: 187.00p ▲(1.85% Upside)

Ithaca Energy PLC's overall stock score is primarily impacted by its financial performance and technical analysis. The company shows operational efficiency but struggles with profitability, affecting its financial performance score. Technical indicators suggest bearish momentum, contributing to a lower score. The high dividend yield provides some valuation appeal, but negative earnings remain a concern.

Positive Factors

High operating margins

Sustainably strong EBIT and EBITDA margins reflect efficient field operations and low unit operating costs versus peers. High structural margins improve resilience to commodity swings, support reinvestment in wells and infrastructure, and underpin medium-term cash generation for the business.

Manageable leverage

A debt-to-equity ratio around 0.42 suggests a conservative balance between debt and equity for an E&P firm. Manageable leverage preserves financial flexibility to fund development, endure commodity volatility, and access capital for tie-ins or acquisitions without immediate refinancing pressure.

Established UK North Sea asset base

Concentration on producing North Sea hubs gives access to long-life reservoirs, existing infrastructure and established export routes. Structural advantages include experienced local operations, potential tariffing through shared facilities and partner cost-recovery mechanics that support steady production and contractual cash flows.

Negative Factors

Negative net profit margin

A persistent net loss margin indicates expenses, finance costs, or non-operating items erode operating profitability. Over months this weakens retained earnings, can constrain capital allocation choices, and raises the need for sustained operational improvement to restore shareholder returns.

Declining free cash flow growth

A material fall in free cash flow growth reduces capacity to fund capex, service debt and sustain distributions without external financing. For a capital-intensive upstream company, prolonged FCF decline may force prioritisation of projects, asset disposals, or higher leverage, impacting long-term investment plans.

Negative return on equity

Negative ROE signals shareholders' capital is not generating positive returns, reflecting net losses or inefficient capital use. Persisting negative ROE can impair investor confidence and limit ability to raise equity on favorable terms, restricting strategic options over the medium term.

Ithaca Energy PLC Business Overview & Revenue Model

Company Description

Ithaca Energy Limited, together with its subsidiaries, engages in the exploration, development, and production of oil and gas in the North Sea. The company own a portfolio of assets located in Northern and Central North Sea and Moray Firth areas. As of December 31, 2021, it had proved and probable reserves, and resources of 5.6 millions of barrels of oil equivalent. The company was incorporated in 2004 and is headquartered in Aberdeen, the United Kingdom. Ithaca Energy Limited is a subsidiary of Delek North Sea Limited.

How the Company Makes Money

Ithaca Energy generates revenue primarily through the production and sale of crude oil and natural gas. The company monetizes its hydrocarbon resources by extracting oil and gas from its offshore fields and selling them in competitive markets. Key revenue streams include sales from its operated and non-operated production assets, which contribute significantly to its cash flow. Additionally, Ithaca Energy may benefit from partnerships with other industry players, joint ventures, and strategic alliances, allowing for shared investment and risk in exploration and development projects. The company also focuses on cost management and operational efficiency to enhance profitability in fluctuating commodity price environments.

Ithaca Energy PLC Financial Statement Overview

Summary

Ithaca Energy PLC demonstrates operational efficiency with strong EBIT and EBITDA margins, but faces profitability challenges as reflected in its negative net profit margin and return on equity. The balance sheet is stable with moderate leverage, yet cash flow concerns persist due to declining free cash flow growth. The company shows signs of recovery in revenue growth, but needs to address profitability to enhance financial health.

Income Statement

Ithaca Energy PLC shows a mixed performance in its income statement. The TTM data reveals a gross profit margin of 47.55%, which is strong, but the net profit margin is negative at -6.56%, indicating profitability challenges. Revenue growth is positive at 5.05% TTM, showing recovery from previous declines. However, the EBIT and EBITDA margins remain robust at 29.10% and 59.41% respectively, suggesting operational efficiency despite net losses.

Balance Sheet

The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.42, indicating manageable leverage. However, the return on equity is negative at -6.21% TTM, highlighting profitability issues. The equity ratio is not explicitly calculated, but the company maintains a solid equity base relative to its assets.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth by -23.19% TTM, which is concerning. The operating cash flow to net income ratio is 0.80, indicating strong cash generation relative to net income. The free cash flow to net income ratio is 0.52, suggesting that the company is generating cash flow despite net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.90B	1.98B	2.32B	2.60B	1.43B	1.11B
Gross Profit	1.36B	842.21M	1.00B	1.25B	549.06M	311.46M
EBITDA	1.74B	1.04B	1.15B	1.79B	918.11M	618.15M
Net Income	-101.05M	153.15M	215.63M	1.03B	620.62M	-467.10M
Balance Sheet
Total Assets	11.34B	8.27B	6.25B	6.76B	4.73B	4.26B
Cash, Cash Equivalents and Short-Term Investments	573.99M	178.08M	156.54M	253.82M	44.85M	1.20M
Total Debt	1.72B	1.07B	768.71M	1.27B	1.44B	1.85B
Total Liabilities	8.71B	5.23B	3.80B	4.30B	4.06B	3.72B
Stockholders Equity	2.63B	3.04B	2.44B	2.46B	676.51M	542.47M
Cash Flow
Free Cash Flow	520.11M	389.20M	811.97M	1.34B	643.06M	593.21M
Operating Cash Flow	1.31B	853.28M	1.29B	1.72B	912.66M	735.27M
Investing Cash Flow	-1.08B	-390.91M	-492.40M	-1.40B	-220.15M	-198.96M
Financing Cash Flow	-112.98M	-449.48M	-900.73M	-107.45M	-650.74M	-549.87M

Ithaca Energy PLC Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 183.60
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:ITH, the sentiment is Positive. The current price of 183.6 is above the 20-day moving average (MA) of 168.09, above the 50-day MA of 171.44, and above the 200-day MA of 167.60, indicating a bullish trend. The MACD of 2.82 indicates Negative momentum. The RSI at 64.53 is Neutral, neither overbought nor oversold. The STOCH value of 85.27 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:ITH.

Ithaca Energy PLC Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ENOG	73 Outperform	£1.56B	9.59	17.24%	10.99%	-2.66%	0.11%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
HBR	63 Neutral	£3.83B	-10.24	-11.32%	8.77%	123.03%	-330.89%
SQZ	60 Neutral	£845.01M	-32.98	-4.31%	9.30%	-32.89%	-239.58%
ENQ	58 Neutral	£230.77M	-2.69	-26.37%	4.36%	-18.05%	-634.88%
TLW	56 Neutral	£119.62M	-0.76	―	―	-32.47%	-1490.91%
ITH	54 Neutral	£3.04B	-34.58	-4.67%	14.05%	63.10%	-161.03%

Ithaca Energy PLC Corporate Events

Ithaca Energy Executives Receive Shares Under All-Employee Incentive Plan

Ithaca Energy has disclosed purchases and awards of ordinary shares to senior executives under its HMRC-approved all-employee Share Incentive Plan, with the SIP trustee acquiring shares on 5 January 2026 on behalf of Executive Chairman Yaniv Friedman, Chief Financial Officer Iain Lewis and Chief Executive Officer Luciano Vasques. The transactions, involving salary-funded purchases and nil-cost matching share awards, modestly increase management’s equity exposure and align leadership and wider employee interests more closely with shareholders, reinforcing the company’s commitment to share ownership across its workforce.

The most recent analyst rating on (GB:ITH) stock is a Hold with a £163.00 price target. To see the full list of analyst forecasts on Ithaca Energy PLC stock, see the GB:ITH Stock Forecast page.

Ithaca Energy Enhances Employee Engagement with Share Incentive Plan

Ithaca Energy PLC announced that its Share Incentive Plan (SIP) has facilitated the purchase of ordinary shares by key managerial personnel. The SIP, approved by HM Revenue and Customs, allows employees to acquire shares through salary deductions. This initiative reflects the company’s commitment to employee engagement and aligns managerial interests with shareholder value, potentially enhancing its market position.

The most recent analyst rating on (GB:ITH) stock is a Hold with a £186.00 price target. To see the full list of analyst forecasts on Ithaca Energy PLC stock, see the GB:ITH Stock Forecast page.

Ithaca Energy’s Executive Chairman Increases Stake with Share Purchase

Ithaca Energy PLC announced that Yaniv Friedman, the Executive Chairman, has acquired 40,000 ordinary shares of the company, with transactions conducted on December 1, 2025, at prices of £1.74 and £1.75. This transaction reflects a significant personal investment by a key executive, potentially signaling confidence in the company’s future performance and stability, which may positively influence stakeholder sentiment.

The most recent analyst rating on (GB:ITH) stock is a Sell with a £137.00 price target. To see the full list of analyst forecasts on Ithaca Energy PLC stock, see the GB:ITH Stock Forecast page.

Ithaca Energy Declares Second Interim Dividend for 2025

Ithaca Energy announced a second interim dividend for 2025, amounting to $133 million or $0.0804 per share, payable in sterling on 18 December 2025. This move underscores the company’s focus on delivering attractive returns to shareholders while maintaining its commitment to sustainable energy production and emissions reduction in line with the North Sea Transition Deal.

The most recent analyst rating on (GB:ITH) stock is a Hold with a £178.00 price target. To see the full list of analyst forecasts on Ithaca Energy PLC stock, see the GB:ITH Stock Forecast page.

UK’s Integral Role in Europe’s Energy System Highlighted in New Report

A new report by Wood Mackenzie, commissioned by Ithaca Energy and endorsed by Offshore Energies UK, highlights the critical role of UK crude oil production within the European energy system. The UK, as Europe’s second-largest oil producer, plays a pivotal role in the continent’s energy security by exporting a significant portion of its crude to Europe, where it is refined and partially returned to the UK market. The report underscores the strategic importance of the UK’s oil industry, especially as domestic refining capacity declines, making the UK more reliant on European imports. This interdependence is crucial for both the UK and Europe’s energy stability, with implications for government policy on domestic production and energy security.

The most recent analyst rating on (GB:ITH) stock is a Hold with a £246.00 price target. To see the full list of analyst forecasts on Ithaca Energy PLC stock, see the GB:ITH Stock Forecast page.

Ithaca Energy Reports Strong Q3 2025 Results, Reaffirms Growth and Dividend Targets

Ithaca Energy PLC reported robust financial and operational performance for the first nine months of 2025, with significant production increases and improved cost efficiency following the integration of Eni UK’s assets. The company has reaffirmed its management guidance and dividend targets, highlighting its strategic focus on organic growth and high-return investments, particularly in the West of Shetland area. The announcement underscores Ithaca Energy’s commitment to enhancing shareholder value and maintaining its leadership position in the UK North Sea energy sector.

The most recent analyst rating on (GB:ITH) stock is a Hold with a £246.00 price target. To see the full list of analyst forecasts on Ithaca Energy PLC stock, see the GB:ITH Stock Forecast page.

Ithaca Energy Announces $133 Million Interim Dividend for 2025

Ithaca Energy announced a second interim dividend for 2025, amounting to $133 million or $0.0804 per ordinary share, to be paid on 18 December 2025. This announcement underscores the company’s commitment to delivering attractive returns to shareholders, leveraging its substantial resource base and operational capabilities to play a crucial role in the UK’s energy security landscape.

The most recent analyst rating on (GB:ITH) stock is a Hold with a £246.00 price target. To see the full list of analyst forecasts on Ithaca Energy PLC stock, see the GB:ITH Stock Forecast page.

Ithaca Energy Strengthens West of Shetland Presence with Shell Partnership

Ithaca Energy has announced a farm-in agreement with Shell UK for a 50% interest in the Tobermory gas discovery in the West of Shetland basin. This strategic move enhances Ithaca’s position as a key player in the region, supporting UK energy security and strengthening its partnership with Shell. The development aligns with Ithaca’s long-term growth strategy and commitment to the UK economy, providing jobs and leveraging its operational expertise.

The most recent analyst rating on (GB:ITH) stock is a Hold with a £246.00 price target. To see the full list of analyst forecasts on Ithaca Energy PLC stock, see the GB:ITH Stock Forecast page.

Ithaca Energy Executives Acquire Shares Under Incentive Plan

Ithaca Energy PLC announced that key executives have purchased ordinary shares under the company’s Share Incentive Plan, which allows employees to buy shares using salary deductions. This move highlights the company’s commitment to employee investment and aligns managerial interests with shareholder value, potentially strengthening its market position and stakeholder confidence.

The most recent analyst rating on (GB:ITH) stock is a Hold with a £228.00 price target. To see the full list of analyst forecasts on Ithaca Energy PLC stock, see the GB:ITH Stock Forecast page.