Judges Scientific (JDG) AI Stock Analysis

• Market Cap: £547.79M
• Dividend Yield: 1.81%
• Average Volume (3M): 10.83K
• Price to Earnings (P/E): 52.6
• Beta (1Y): 0.32
• Revenue Growth: -1.84%
• EPS Growth: 9.56%
• Country: UK
• Employees: 767
• Sector: Technology
• Sector Strength: 91
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 1.57
• Shares Outstanding: 6,647,952
• 10 Day Avg. Volume: 8,754
• 30 Day Avg. Volume: 10,826
• PEG Ratio: -1.69
• Price to Book (P/B): 6.19
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 24.93
• 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: £9,100.00
• Price Target Upside: 12.35% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 72 Outperform
• Price Target: 94.00p ▼(-98.84%Downside)

Judges Scientific holds a strong overall stock score primarily driven by robust financial performance and positive corporate events. The technical indicators support a favorable market position, although valuation concerns due to a high P/E ratio slightly offset the overall outlook. The absence of earnings call data did not impact the assessment.

Positive Factors

Business Resilience

Judges benefits from holding a diverse portfolio of businesses and some M&A to supplement performance during the year.

Financial Performance

Judges' FY24 Results are in line with guidance and with JEFe, with the improvement in cash flow being the highlight.

Market Opportunities

FY25F has seen an encouraging start with more optimism in the US and opportunities in India.

Negative Factors

Earnings Recovery

Short-term vulnerability is seen with earnings/margin recovery likely to be relatively slow, limiting near-term rerating.

Leadership Changes

It is disappointing to see Mark Lavelle depart, as he is very well-regarded and brought valuable experience and knowledge to Judges.

Market Risks

There are concerns around risks in the US from research funding cuts and customer order delays.

Judges Scientific Business Overview & Revenue Model

Company Description

Judges Scientific plc designs, manufactures, and sells scientific instruments. The company operates through two segments, Materials Sciences and Vacuum. It offers engineering teaching and research equipment for universities, colleges, schools, and research centers; and research and development systems for food, beverage, dairy, edible oil, and pharmaceutical industries. The company also provides LED illumination systems for bioscience and clinical microscopy; tensile testing, motion control, and specimen cooling for microscopy applications; automated measurement systems for a range of fibers; edge-welded metal bellows; and fire testing instruments, such as cone calorimeters, large scale calorimeters, NBS smoke chambers and oxygen index test, and related fire testing instruments. In addition, it offers equipment and software used for the computer-controlled testing of soils and rocks; film deposition systems; physical and chemical vapour deposition instruments; open flow cryocoolers for the X-ray diffraction market and crycoolers for cooling applications, such as radio astronomy; test equipment for the characterization of optical fibers; scientific instruments primarily used for electron microscopy sample preparation; scientific equipment used by electrophysiology and imaging researchers; and gas purifiers for metal analysis. Further, the company provides specialized calorimeters used for chemical and battery industries; sample heating and manipulation products for use in vacuum markets for materials research and production; and sheet metalwork services, including components and casting, fabrication, bespoke engineering solutions, as well as laser cutting and CNC machining services. The company operates in the United Kingdom, rest of Europe, North America, China, and internationally. Judges Scientific plc was incorporated in 2002 and is based in London, the United Kingdom.

How the Company Makes Money

Judges Scientific primarily makes money through the sale of its scientific instruments, which are high-value and specialized products used by researchers and industries worldwide. The company adopts a buy-and-build strategy, acquiring smaller niche businesses with strong product offerings in the scientific instrument sector. Revenue is generated not only from direct sales but also through after-sales services, maintenance contracts, and spare parts supply. Additionally, the company benefits from any synergies realized through its acquisitions, which can enhance operating efficiencies and broaden its market reach. Significant partnerships with research institutions and industrial clients also contribute to recurring revenue streams and long-term growth.

Judges Scientific Financial Statement Overview

Summary

Judges Scientific exhibits strong financial management across all statements. The income statement reflects steady profitability with some recent revenue challenges. The balance sheet is stable with manageable leverage, while the cash flow statement highlights excellent cash generation and liquidity. Continued focus on revenue growth and debt management could further enhance financial performance.

Income Statement

The company has shown solid gross profit margins, maintaining stable profitability over the years. The net profit margin is respectable, though there was a slight decline in revenue from 2023 to 2024. The EBIT and EBITDA margins are strong, indicating efficient operations. Overall, the income statement reflects a well-managed financial performance, but the recent revenue dip could be a concern.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio, reflecting a balanced approach to leverage. The equity ratio indicates a solid foundation, though there is room for improvement in reducing liabilities. Return on equity is good, suggesting effective use of shareholder funds. The balance sheet is stable, but managing debt levels could enhance financial health further.

Cash Flow

The company demonstrates strong cash generation capabilities, with a positive operating cash flow to net income ratio. Free cash flow has grown steadily, indicating good financial management. The free cash flow to net income ratio supports a healthy cash conversion cycle, contributing to overall financial stability. The cash flow statement reflects robust liquidity and operational efficiency.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	133.60M	136.10M	113.21M	91.29M	79.86M
Gross Profit	92.00M	93.60M	21.01M	15.34M	10.02M
EBITDA	30.90M	35.60M	29.00M	20.33M	15.17M
Net Income	10.40M	9.50M	12.50M	12.68M	8.22M
Balance Sheet
Total Assets	205.10M	183.50M	185.79M	88.98M	82.03M
Cash, Cash Equivalents and Short-Term Investments	17.90M	13.70M	20.83M	18.41M	15.52M
Total Debt	73.60M	65.30M	59.95M	21.32M	26.37M
Total Liabilities	117.90M	100.90M	131.33M	45.58M	48.98M
Stockholders Equity	86.90M	82.40M	54.24M	42.78M	32.19M
Cash Flow
Free Cash Flow	22.10M	20.60M	12.33M	13.44M	10.53M
Operating Cash Flow	28.50M	26.50M	20.22M	16.89M	11.79M
Investing Cash Flow	-22.60M	-25.90M	-51.11M	-5.21M	-12.67M
Financing Cash Flow	-1.40M	-7.60M	33.21M	-8.81M	2.34M

Judges Scientific Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 8100.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:JDG, the sentiment is Neutral. The current price of 8100 is below the 20-day moving average (MA) of 8583.50, above the 50-day MA of 8099.25, and above the 200-day MA of 8032.11, indicating a neutral trend. The MACD of 40.40 indicates Positive momentum. The RSI at 43.20 is Neutral, neither overbought nor oversold. The STOCH value of 16.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:JDG.

Judges Scientific Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DSCV	78 Outperform	£678.28M	27.67	8.07%	2.42%	-3.23%	58.34%
SOLI	78 Outperform	£105.39M	206.67	0.81%	0.89%	-11.80%	-32.11%
RSW	74 Outperform	£2.06B	21.12	11.07%	0.87%	4.71%	0.43%
JDG	72 Outperform	£547.79M	52.57	12.29%	1.81%	-1.84%	9.56%
SXS	69 Neutral	£3.95B	17.07	17.33%	2.84%	-11.09%	65.87%
GHH	65 Neutral	£170.28M	31.27	4.79%	1.56%	1.74%	359.50%
Sector *	63 Neutral	$33.80B	5.84	-11.67%	1.84%	5.28%	-18.34%

Judges Scientific Corporate Events

Judges Scientific Executives Increase Shareholdings

Judges Scientific plc announced the purchase of ordinary shares by the Trustees of the Share Incentive Plan involving key executives including the CEO, CFO, COO, Group Business Development Director, and Group Commercial Director. The transactions, conducted on July 7, 2025, at the London Stock Exchange’s AIM Market, reflect a strategic move to align the interests of the company’s leadership with its shareholders, potentially strengthening stakeholder confidence and market positioning.

The most recent analyst rating on (GB:JDG) stock is a Buy with a £12230.00 price target. To see the full list of analyst forecasts on Judges Scientific stock, see the GB:JDG Stock Forecast page.

Judges Scientific Increases Share Capital and Voting Rights

Judges Scientific, a company involved in scientific instrumentation, has announced an increase in its total issued share capital to 6,647,952 Ordinary shares as of June 30, 2025. This change impacts the voting rights structure, with each share carrying one vote, and is relevant for shareholders calculating their notifiable interest under the Disclosure and Transparency Rules.

The most recent analyst rating on (GB:JDG) stock is a Buy with a £12230.00 price target. To see the full list of analyst forecasts on Judges Scientific stock, see the GB:JDG Stock Forecast page.

Judges Scientific Appoints New Group Acquisitions Executive

Judges Scientific has appointed Rik Armitage as Group Acquisitions Executive to support its strategy of expanding its pipeline of potential deals and maintaining a disciplined acquisition process. Armitage, with over thirty years of experience in strategy and M&A, will join the recently formed Executive Committee, bringing expertise from his previous roles at Oxford Instruments and Chemring Group, which are expected to enhance Judges Scientific’s buy and build growth strategy.

The most recent analyst rating on (GB:JDG) stock is a Buy with a £12230.00 price target. To see the full list of analyst forecasts on Judges Scientific stock, see the GB:JDG Stock Forecast page.

Judges Scientific Executives Participate in Share Incentive Plan

Judges Scientific plc announced the purchase of ordinary shares by the Trustees of the Share Incentive Plan involving several key executives, including the CEO, CFO, COO, Group Business Development Director, and Group Commercial Director. Each transaction was conducted on the London Stock Exchange, AIM Market, at a price of 7870.0p per share, reflecting the company’s commitment to aligning management interests with shareholder value.

The most recent analyst rating on (GB:JDG) stock is a Buy with a £12230.00 price target. To see the full list of analyst forecasts on Judges Scientific stock, see the GB:JDG Stock Forecast page.

Judges Scientific Allocates Shares to Employees Under Reward Scheme

Judges Scientific announced the acquisition of 28 ordinary shares at a price of 7875p per share, which have been allocated to employees under the company’s reward scheme. This move reflects the company’s ongoing strategy to enhance shareholder value through sustainable profit generation, debt reduction, organic growth, and dividends.

The most recent analyst rating on (GB:JDG) stock is a Buy with a £12230.00 price target. To see the full list of analyst forecasts on Judges Scientific stock, see the GB:JDG Stock Forecast page.

Judges Scientific AGM Resolutions Passed Amid Shareholder Dissent

Judges Scientific announced the successful passing of all resolutions at their recent Annual General Meeting, including the approval of financial statements, remuneration reports, and director re-elections. Notably, over 20% of shareholders opposed the re-election of Ralph Elman as a director, prompting the board to engage with shareholders for feedback. This outcome highlights the company’s commitment to stakeholder engagement and governance, potentially impacting its strategic direction and investor relations.

The most recent analyst rating on (GB:JDG) stock is a Buy with a £10600.00 price target. To see the full list of analyst forecasts on Judges Scientific stock, see the GB:JDG Stock Forecast page.

Judges Scientific Strengthens Employee Incentives with Share Acquisition

Judges Scientific plc announced the acquisition of 655 ordinary shares at a price of 7820p per share, which were immediately allocated to employees as part of the company’s reward scheme. This move reflects the company’s ongoing commitment to rewarding its employees and maintaining a strong operational framework, potentially enhancing its market position and stakeholder confidence.

The most recent analyst rating on (GB:JDG) stock is a Buy with a £12230.00 price target. To see the full list of analyst forecasts on Judges Scientific stock, see the GB:JDG Stock Forecast page.

Judges Scientific Executives Participate in Share Incentive Plan

Judges Scientific plc announced the purchase of ordinary shares by the Trustees of the Share Incentive Plan involving several key executives, including the CEO, CFO, COO, Group Business Development Director, and Group Commercial Director. This transaction, conducted on the London Stock Exchange’s AIM Market, reflects the company’s ongoing commitment to aligning the interests of its management team with those of its shareholders, potentially enhancing stakeholder confidence and reinforcing its market position.

Judges Scientific Announces AGM Details and Annual Report Release

Judges Scientific plc has announced the posting of its Annual Report and Accounts along with the Notice of its Annual General Meeting (AGM), scheduled for May 22, 2025, at The Lansdowne Club in London. Shareholders are encouraged to attend the AGM in person or submit proxy votes online. This announcement underscores the company’s commitment to transparency and shareholder engagement, reflecting its strategic focus on sustainable growth and market presence in the scientific instrument sector.

Judges Scientific Announces Board Changes and New Executive Committee

Judges Scientific has announced a significant change in its board and management structure, with Chief Operating Officer Mark Lavelle planning to retire by September 2026. As part of his transition, Lavelle will step down from the board in May 2025 but will continue to contribute to the group through a newly formed Executive Committee, which will oversee the management of the company. This restructuring aims to enhance the group’s operational and growth capabilities, ensuring continued success and development in the scientific instrument sector.