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Midwich
(LSE:MIDW)
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Rating:60Neutral
Price Target:
147.00 p
▲(7.77% Upside)
Action:Reiterated
Date:08/06/26
The overall score is driven primarily by mixed financial performance: strong revenue growth and decent free cash flow are offset by a recent swing to net losses, deteriorating margins, and higher leverage, keeping the financial profile only slightly above mid-range. Technicals provide a secondary, modestly positive influence, with short-term indicators improving but longer-term trends still subdued. Valuation gives an additional, smaller boost through a reasonably attractive dividend yield, though the absence of positive earnings dampens how much support this can provide until profitability recovers.
Positive Factors
Top-line momentum
Sustained revenue expansion across multiple years indicates durable demand for Midwich’s specialist AV/UC offerings and scale benefits. Persistent top-line growth supports negotiating power with vendors, broader geographic reach, and the ability to invest in distribution infrastructure that underpins long-term competitiveness.
Negative Factors
Profitability deterioration
A swing to a net loss signals structural pressure on operating profitability and cash returns from the core distribution business. Persistent margin compression reduces retained earnings, limits reinvestment capacity, and weakens ability to sustain dividends or absorb future shocks absent a clear path to margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Top-line momentum
Sustained revenue expansion across multiple years indicates durable demand for Midwich’s specialist AV/UC offerings and scale benefits. Persistent top-line growth supports negotiating power with vendors, broader geographic reach, and the ability to invest in distribution infrastructure that underpins long-term competitiveness.
Read all positive factors
Midwich (MIDW) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£147.81M
Dividend Yield3.67%
Average Volume (3M)319.00K
Price to Earnings (P/E)―
Beta (1Y)0.88
Revenue Growth-1.92%
EPS Growth-239.71%
CountryUK
Employees1,700
SectorTechnology
Sector Strength88
IndustryTechnology Distributors
Share Statistics
EPS (TTM)-0.20
Shares Outstanding105,145,130
10 Day Avg. Volume183,829
30 Day Avg. Volume319,002
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.20
Price to Sales (P/S)0.15
P/FCF Ratio5.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£350.00Price Target Upside156.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.24
Revenue Forecast (FY)£1.36B
Midwich Business Overview & Revenue Model
Company Description
Midwich Group plc, along with its associated companies, operates as a specialist distributor of audio-visual (AV) solutions, catering exclusively to trade partners across an extensive global network. Its operations span the United Kingdom, Ireland...
How the Company Makes Money
Midwich makes money primarily by acting as an authorised trade distributor between technology manufacturers and professional channel customers (e.g., integrators, resellers, and installers). Its core revenue stream is product sales: it purchases h...
Midwich Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
55
Neutral
Cash Flow
68
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.29B | 1.32B | 1.29B | 1.20B | 855.97M |
| Gross Profit | 214.11M | 234.33M | 216.47M | 173.91M | 123.76M |
| EBITDA | 38.43M | 51.95M | 67.47M | 52.45M | 34.32M |
| Net Income | -22.58M | 16.03M | 26.82M | 15.29M | 12.43M |
Balance Sheet | |||||
| Total Assets | 625.31M | 650.66M | 654.47M | 559.77M | 373.53M |
| Cash, Cash Equivalents and Short-Term Investments | 53.98M | 49.16M | 56.13M | 25.86M | 15.48M |
| Total Debt | 201.06M | 202.59M | 166.94M | 149.33M | 94.45M |
| Total Liabilities | 465.24M | 461.51M | 458.32M | 425.64M | 259.13M |
| Stockholders Equity | 160.07M | 181.22M | 173.25M | 120.74M | 105.12M |
Cash Flow | |||||
| Free Cash Flow | 37.98M | 20.38M | 47.82M | 9.98M | 3.56M |
| Operating Cash Flow | 43.35M | 35.28M | 63.79M | 21.06M | 9.52M |
| Investing Cash Flow | -21.63M | -40.01M | -67.41M | -33.42M | -22.43M |
| Financing Cash Flow | -16.01M | -1.30M | 35.68M | 15.82M | 338.00K |
Midwich Technical Analysis
Positive
136.40
Price Trends
137.42
Positive
143.17
Negative
161.29
Negative
Market Momentum
1.61
Negative
53.10
Neutral
53.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MIDW, the sentiment is Positive. The current price of 136.4 is below the 20-day moving average (MA) of 140.84, below the 50-day MA of 137.42, and below the 200-day MA of 161.29, indicating a neutral trend. The MACD of 1.61 indicates Negative momentum. The RSI at 53.10 is Neutral, neither overbought nor oversold. The STOCH value of 53.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:MIDW.
Midwich Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | £222.56M | 42.66 | 11.85% | 0.42% | 13.75% | 6.74% | |
68 Neutral | £201.30M | 82.52 | 5.22% | 0.80% | 19.00% | -53.85% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | £242.66M | -4.93 | -31.21% | ― | -7.62% | 5.48% | |
60 Neutral | £147.81M | -7.08 | -12.68% | 3.85% | -1.92% | -239.71% | |
58 Neutral | £6.64M | -1.70 | -21.33% | 2.67% | 19.66% | -151.99% | |
45 Neutral | £106.13M | 3.34 | 4.57% | ― | -31.46% | 297.44% |
* Technology Sector Average
GB:MIDW
Midwich
144.60
-77.23
-34.81%
GB:CNC
Concurrent Technologies
250.00
64.32
34.64%
GB:NET
Netcall
119.00
0.51
0.43%
GB:NAR
Northamber
24.50
-5.88
-19.35%
GB:RCN
Redcentric
110.00
-10.75
-8.90%
GB:TTG
TT Electronics
137.60
41.60
43.33%
Midwich Corporate Events
Business Operations and StrategyFinancial Disclosures
Midwich lifts first‑half profit despite Middle East hit, keeps full‑year guidance in line
Positive
Jul 21, 2026
Midwich Group plc reported that adjusted profit before tax for the first half of 2026 is expected to rise about 10% year on year to £10.6 million on revenues of roughly £640 million, up around 3%. Profit growth of 20% excluding the Middl...
Business Operations and StrategyExecutive/Board Changes
Midwich Names Kevin Quinn as New Chair to Drive Next Growth Phase
Positive
Jul 10, 2026
Midwich Group plc has appointed Kevin Quinn as an Independent Non-Executive Director and Chair Designate, with his joining the Board and succeeding Andrew Herbert as Non-Executive Chair from 1 August 2026. Quinn brings extensive senior leadership ...
Regulatory Filings and Compliance
Midwich CEO Restructures 720,000-Share Holding via Family Investment Vehicle
Neutral
May 29, 2026
Midwich Group plc has announced an internal share transfer by Group Chief Executive Officer Stephen Fenby and his wife, who moved a combined 720,000 ordinary shares to Sawley Ventures Limited, a family investment company in which they are benefici...
Business Operations and StrategyExecutive/Board Changes
Midwich appoints RS Group executive Peter Malpas to board
Positive
May 28, 2026
Midwich Group, the AIM-listed audiovisual distribution specialist, has appointed Peter Malpas as an independent non-executive director effective 1 June 2026, succeeding Mike Ashley who left the board earlier in May. Malpas, currently President of ...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresShareholder Meetings
Midwich shareholders back all AGM resolutions, approve 2025 dividend
Positive
May 12, 2026
Shareholders of Midwich Group plc, the AIM-quoted audiovisual distributor, approved all resolutions at the company’s latest annual general meeting, including the adoption of 2025 accounts and the re-election of all directors. Auditors RSM UK...
Business Operations and StrategyFinancial DisclosuresShareholder Meetings
Midwich signals regional recovery and eyes acquisitions despite Middle East drag
Neutral
May 12, 2026
Midwich Group plc told shareholders at its AGM that it is gaining market share, opening new revenue streams and driving efficiencies as conditions start to improve in some regions. Strong trading in the UK and Southern Europe has offset weak deman...
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.