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ITM Power
(LSE:ITM)
ITM Power (ITM) vs. iShares MSCI United Kingdom ETF (EWC)
ITM Power Business Overview & Revenue Model
ITM Power Earnings Call Summary
ITM Power Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 26.04M | 16.51M | 5.23M | 5.63M | 4.28M |
| Gross Profit | -23.69M | -16.66M | -83.01M | -34.32M | -14.74M |
| EBITDA | -37.00M | -31.68M | -96.05M | -42.93M | -24.85M |
| Net Income | -45.52M | -27.22M | -101.20M | -46.69M | -27.70M |
Balance Sheet | |||||
| Total Assets | 341.96M | 381.78M | 402.32M | 458.17M | 229.07M |
| Cash, Cash Equivalents and Short-Term Investments | 207.04M | 230.35M | 283.33M | 366.18M | 176.08M |
| Total Debt | 12.33M | 12.70M | 7.81M | 7.15M | 6.49M |
| Total Liabilities | 117.71M | 113.06M | 106.81M | 63.21M | 31.62M |
| Stockholders Equity | 224.25M | 268.72M | 295.51M | 394.95M | 197.45M |
Cash Flow | |||||
| Free Cash Flow | -32.94M | -65.08M | -83.11M | -49.01M | -32.01M |
| Operating Cash Flow | -20.02M | -50.58M | -67.99M | -37.85M | -20.06M |
| Investing Cash Flow | -2.65M | -795.00K | -10.90M | -15.38M | -12.49M |
| Financing Cash Flow | -667.00K | -891.00K | -95.00K | 243.13M | 168.72M |
ITM Power Technical Analysis
ITM Power Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | £6.80B | 29.51 | 23.79% | 1.29% | -0.32% | -3.96% | |
75 Outperform | £8.31B | 27.14 | 17.68% | 1.26% | -1.97% | 40.55% | |
73 Outperform | £1.88B | 47.54 | 35.23% | 1.01% | 24.42% | 103.25% | |
67 Neutral | £632.65M | 23.13 | 8.04% | 4.87% | -7.30% | -59.71% | |
66 Neutral | £2.91B | 30.02 | 16.97% | 2.04% | 1.93% | -15.07% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
44 Neutral | £384.62M | -12.69 | -18.47% | ― | 57.73% | -67.12% |
ITM Power Corporate Events
ITM Power reported another period of operational and financial progress for the six months to 31 October 2025, with revenue rising to £18m from £15.5m, a reduced adjusted EBITDA loss of £11.9m, and a still-strong cash balance of £197.8m. The company’s contracted backlog has grown sharply to £152m and is now predominantly made up of profitable contracts, reflecting improved project economics as legacy work is phased out. Commercial momentum was underpinned by multiple new equipment and engineering contracts, major capacity reservations from utilities such as RWE, and selection for large-scale projects in Europe and Asia-Pacific, while the post-period launch of the ALPHA 50 50MW full-scope plant and continued demand for the NEPTUNE V platform are deepening its pipeline. ITM is also pushing into recurring, asset-backed revenue through Hydropulse, a new build-own-operate business focused on decentralised green hydrogen production for industrial customers and positioned to tap government funding schemes in the UK and Germany. Operationally, the group is automating manufacturing with a new autostacker line, progressing its next-generation CHRONOS stack platform, and transitioning parts of its portfolio to percentage-of-completion revenue recognition, steps that together aim to enhance margins, improve revenue visibility, and strengthen its competitive position as green hydrogen investment and policy support continue to expand globally.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £64.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
ITM Power has announced that it will publish its interim results for the six months to 31 October 2025 on 29 January 2026 and will host a same-day presentation for analysts and investors led by its CEO, CFO and CTO. The event, accessible via the Investor Meet Company platform and open to both existing and potential shareholders, underscores ITM’s efforts to maintain transparent communication with the market at a time when investor attention to performance and strategy in the green hydrogen sector remains high.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £60.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
ITM Power has announced it will publish interim results for the six months ended 31 October 2025 on 29 January 2026, accompanied by a live presentation for analysts and investors led by CEO Dennis Schulz, CFO Amy Grey and CTO Simon Bourne. The company is using the Investor Meet Company platform to broaden engagement with existing and prospective shareholders, underscoring its effort to increase transparency and investor outreach at a time when its green hydrogen technology sits at the centre of the energy transition and institutional interest in the sector remains high.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £60.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
ITM Power has disclosed routine share dealings by its chief executive Dennis Schulz and chief technology officer Simon Bourne under the company’s Buy as You Earn Share Incentive Plan for January 2026. Each executive purchased 227 partnership shares, which were matched one-for-one by ITM Power with a further 227 shares, giving each a total of 454 ordinary shares acquired at £0.65989 per share on 15 January via the London Stock Exchange’s AIM market, underscoring ongoing alignment of senior management’s interests with shareholders through regular participation in the company’s employee share scheme.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £60.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
ITM Power has confirmed that Jürgen Nowicki has formally taken over as non-executive chair of the board as of 15 January 2026, succeeding Sir Roger Bone, who has retired after leading the company through its evolution from a development-stage venture to a commercial market leader in electrolysers. The board and management emphasised that Nowicki’s sector experience is expected to support continued operational discipline, effective governance and execution of ITM Power’s growth strategy, underlining the company’s focus on consolidating its market position in green hydrogen technologies during a critical phase of industry expansion.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £68.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
ITM Power has signed a 12.5MW contract with Octopus Energy Generation to deploy its NEPTUNE V green hydrogen systems at Kimberly-Clark’s Northfleet manufacturing plant for decarbonizing paper production. Green hydrogen will support an innovative dual-fuel boiler system, aiding Kimberly-Clark’s ambition for 100% renewable energy and showcasing the vital role of hydrogen in reducing emissions for energy-intensive industries. The facility is expected to begin operations by the end of 2027, marking a significant development for green hydrogen adoption in industrial processes.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £68.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
ITM Power has announced the issuance of incentive shares to its executives as part of the Buy as You Earn program (BAYE). Through this initiative, employees can purchase shares monthly, matched on a one-to-one basis by the company. This announcement highlights the company’s commitment to employee engagement and retention while also reinforcing management alignment with shareholder interests, which could positively influence stakeholder confidence and industry positioning.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £68.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
ITM Power has secured two significant engineering contracts, one for a Basic Design Engineering Package in Australia and another for a Front-End Engineering Design project in Canada, with a combined capacity of 70 MW. These contracts will utilize ITM’s NEPTUNE V containerised green hydrogen production plants, marking a strategic expansion into the Australian and Canadian markets and reinforcing ITM’s position in the green hydrogen industry.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £68.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
ITM Power has reported a record revenue of £18.0 million for the first half of 2025, despite an adjusted EBITDA loss of £11.9 million, and maintains a robust cash position of £197 million. The company is experiencing strong demand for its NEPTUNE V and ALPHA 50 hydrogen plants, and has made significant progress on major projects like the 100 MW PEM plant for RWE in Lingen. With a solid sales pipeline and continued advancements in product development, ITM Power is positioned as a reliable partner in the evolving hydrogen market, particularly in Europe where infrastructure investments are accelerating.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £68.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
ITM Power has been selected by Stablegrid Group as the technology partner for two significant energy infrastructure projects in Germany, totaling 710 MW of electrolyser capacity. These projects aim to enhance grid stability and reduce redispatch costs by using hydrogen storage to balance electricity supply and consumption. The first project, ‘Netzbrücke 410’, involves a 30 MW green hydrogen plant, while the second project will see the installation of 680 MW of electrolyser capacity. This collaboration underscores ITM Power’s prominent role in the energy transition within Europe’s largest economy.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £68.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
ITM Power has announced the participation of its Executive Directors in the company’s Buy as You Earn (BAYE) Share Incentive Plan. Under this scheme, employees can purchase up to £150 of ordinary shares monthly, with the company matching these purchases on a one-for-one basis. This initiative reflects ITM Power’s commitment to aligning the interests of its management with those of its shareholders, potentially enhancing stakeholder confidence and reinforcing its market position in the renewable energy sector.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £82.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.