Plexus Holdings (POS) AI Stock Analysis

• Market Cap: £12.09M
• Dividend Yield: N/A
• Average Volume (3M): 178.46K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.96
• Revenue Growth: -64.78%
• EPS Growth: -182.93%
• Country: UK
• Employees: 40
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): -0.01
• Shares Outstanding: 172,691,360
• 10 Day Avg. Volume: 325,034
• 30 Day Avg. Volume: 178,461
• PEG Ratio: -0.03
• Price to Book (P/B): 0.92
• Price to Sales (P/S): 1.12
• P/FCF Ratio: 30.96
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: 7.00p ▲(33.33% Upside)

The score is held back primarily by unstable financial performance, with a steep 2025 revenue/profitability downturn and negative operating/free cash flow despite a strong balance sheet. Technicals show a short-term rebound but not a clear longer-term uptrend, and valuation remains weak due to losses and a negative P/E.

Positive Factors

Low and improving leverage

A very low and falling debt burden provides durable financial flexibility: it reduces fixed financing costs, lowers solvency risk through downturns, and gives management capacity to fund operations or opportunistic investments without immediate external financing pressure.

Equity-heavy capital base

A capital structure dominated by equity supports long-term resilience by absorbing losses and preserving liquidity during cyclical troughs. This structural buffer makes the firm less vulnerable to covenant stress and gives time to execute strategic adjustments.

Proven ability to be profitable (2024)

The firm's ability to generate positive revenue growth and profitability in 2024 demonstrates operational capability and market relevance. That historical profit performance indicates the business can recover and scale earnings in favorable conditions, a structural plus for cyclicality.

Negative Factors

Severe revenue and profit collapse in 2025

A dramatic drop in revenue and a very large negative net margin signal structural demand or operational issues. Such severe reversals impair long-term planning, weaken bargaining power with suppliers/customers, and elevate the risk that profitable scale is not sustainable across cycles.

Weak and inconsistent cash generation

Persistent negative or volatile cash conversion undermines the company’s ability to self-fund capex, service obligations, or invest for growth. Reliance on the balance sheet or external financing during downturns increases refinancing and liquidity risk over multi-quarter horizons.

Volatile returns on equity

Large swings in ROE reflect unstable profitability and inconsistent capital efficiency. This volatility complicates capital allocation, undermines investor confidence, and suggests the firm may struggle to consistently generate returns above its cost of capital over typical investment horizons.

Plexus Holdings Business Overview & Revenue Model

Company Description

Plexus Holdings (POS) is a UK-based oil and gas engineering company specializing in the design and supply of wellhead and mudline suspension equipment for the international oil and gas industry. The company is known for its innovative POS-GRIP technology, a method of engineering that enables enhanced safety and performance of drilling and production equipment. Plexus Holdings serves major oil and gas operators and has a particular focus on high-pressure/high-temperature (HP/HT) and challenging environments.

How the Company Makes Money

Plexus Holdings generates revenue primarily through the sale and rental of its proprietary wellhead equipment and related services. The company's key revenue streams include sales of its POS-GRIP wellhead systems to oil and gas operators, rental income from equipment provided for drilling operations, and engineering services related to wellhead installation and maintenance. Additionally, Plexus Holdings may earn income from licensing its technology to other equipment manufacturers. Strategic partnerships with major oil and gas companies and service providers also play a significant role in Plexus's business model, as they help the company expand its market reach and enhance its technological offerings.

Plexus Holdings Financial Statement Overview

Summary

Plexus Holdings has shown a commendable recovery in financial performance, particularly in profitability and efficiency. The company benefits from low leverage and strong equity, providing a stable financial foundation. However, volatility in revenue and cash flows suggests the need for cautious optimism regarding future performance.

Income Statement

Plexus Holdings has demonstrated a remarkable turnaround in its income statement. The gross profit margin improved significantly to 57.7%, and the net profit margin turned positive at 23.1% as of the latest report. The revenue growth rate was exceptional at 756% from the previous year. EBIT and EBITDA margins also showed strong recovery at 28.3% and 38%, respectively, indicating improved operational efficiency. However, the company has experienced significant volatility in profitability over the years.

Balance Sheet

The balance sheet of Plexus Holdings shows a solid equity ratio of 77.4%, reflecting a strong capital base. The debt-to-equity ratio is low at 0.08, indicating low leverage, which reduces financial risk. The return on equity is healthy at 19%, showcasing efficient use of equity to generate profits. While these are positive indicators, the total assets have decreased over time, which could suggest potential constraints in future growth.

Cash Flow

Plexus Holdings has shown a positive trend in cash flow management, with free cash flow turning positive to 460,000. The operating cash flow to net income ratio is robust at 1.39, indicating healthy cash flow generation relative to net income. However, free cash flow growth has been highly volatile, and financing cash flows have fluctuated, which presents potential risks in maintaining consistent cash flow stability.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.48M	12.72M	1.49M	2.31M	2.02M
Gross Profit	133.00K	7.34M	1.09M	1.49M	955.00K
EBITDA	-1.07M	4.67M	-2.65M	-3.75M	-2.59M
Net Income	-3.27M	2.93M	-4.01M	-7.46M	-4.50M
Balance Sheet
Total Assets	17.67M	19.91M	18.63M	21.82M	27.08M
Cash, Cash Equivalents and Short-Term Investments	2.54M	2.49M	1.45M	5.84M	5.17M
Total Debt	88.00K	1.28M	2.46M	5.04M	3.44M
Total Liabilities	1.50M	4.50M	7.11M	6.29M	4.09M
Stockholders Equity	16.17M	15.41M	11.52M	15.54M	22.99M
Cash Flow
Free Cash Flow	-2.33M	460.00K	-2.84M	-3.52M	-3.06M
Operating Cash Flow	-700.00K	4.08M	-1.44M	-2.63M	-2.65M
Investing Cash Flow	-2.05M	-2.63M	-195.00K	1.83M	2.08M
Financing Cash Flow	2.80M	-410.00K	-2.76M	1.47M	1.66M

Plexus Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 5.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:POS, the sentiment is Positive. The current price of 5.25 is below the 20-day moving average (MA) of 6.00, below the 50-day MA of 6.24, and below the 200-day MA of 7.42, indicating a neutral trend. The MACD of 0.26 indicates Negative momentum. The RSI at 69.60 is Neutral, neither overbought nor oversold. The STOCH value of 78.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:POS.

Plexus Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GMS	74 Outperform	£241.38M	8.37	9.45%	―	7.05%	-19.81%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
STAR	55 Neutral	£12.44M	-0.91	-29.57%	―	-20.85%	-105.70%
RKH	53 Neutral	£469.39M	―	6.97%	―	―	―
POS	47 Neutral	£12.09M	-2.59	-20.68%	―	-64.78%	-182.93%
JOG	44 Neutral	£32.67M	-21.46	-6.74%	―	―	―

Plexus Holdings Corporate Events

Plexus Holdings Publishes Annual Report and Sets January AGM Date

Plexus Holdings has published its latest Annual Report and Accounts, along with the notice of its upcoming annual general meeting and proxy form, making these documents available to shareholders both by post and on the company’s website. The AGM is scheduled to take place on 16 January 2026 at the company’s Aberdeen offices, providing investors with a formal opportunity to review recent performance and ongoing strategy in its specialised offshore wellhead technology and services markets.

The most recent analyst rating on (GB:POS) stock is a Hold with a £9.50 price target. To see the full list of analyst forecasts on Plexus Holdings stock, see the GB:POS Stock Forecast page.

Plexus Swings to Loss as It Rebuilds Wellhead Rental Fleet and Shifts Focus Overseas

Plexus Holdings reported a sharp drop in revenue to £4.48m and swung to a £3.3m loss before tax for the year to 30 June 2025, reflecting the absence of last year’s one-off licence deal and a deliberate investment phase to rebuild its rental wellhead fleet and expand operations. Despite weak sentiment and project deferrals in the UK North Sea amid uncertainty over the Energy Profits Levy, the group completed a major £9m North Sea project and a £1.9m Dutch sector P&A phase, raised £3.5m of equity to double its Exact rental fleet, maintained cash at £2.5m and strengthened its balance sheet. Operationally, Plexus is pivoting toward international growth, with a $1m Middle East gas exploration contract and a North American rental contract both due to start in Q1 2026, a new business development presence in the UAE, and a two‑year framework agreement with a North Sea operator, while a new £2m loan facility boosts financial flexibility. Management sees these steps, alongside ongoing R&D, preserved API Q1 accreditation and the continued strategic value of its POS-GRIP intellectual property and collaboration with SLB, as laying the foundation for future rental-led revenue growth across offshore oil and gas, CCS and geothermal applications.

The most recent analyst rating on (GB:POS) stock is a Hold with a £9.50 price target. To see the full list of analyst forecasts on Plexus Holdings stock, see the GB:POS Stock Forecast page.

Plexus Holdings Secures £2 Million Loan to Boost Strategic Growth

Plexus Holdings has announced an operational update and a new £2 million loan facility agreement with OFM Holdings Limited to support its strategic growth initiatives and maintain financial flexibility. The company is expanding its international presence, particularly in the Middle East, and is on track to deliver new wellhead systems to meet growing demand. Despite uncertainties in the UK sector, Plexus remains optimistic about future opportunities, including carbon capture and storage projects, and is confident in its long-term outlook amid anticipated market recovery.

The most recent analyst rating on (GB:POS) stock is a Hold with a £9.50 price target. To see the full list of analyst forecasts on Plexus Holdings stock, see the GB:POS Stock Forecast page.

Plexus Holdings Secures New Framework Agreement for North Sea Wellhead Services

Plexus Holdings PLC has entered into a two-year framework agreement to provide rental wellhead services and associated equipment for a UK North Sea operator, marking a positive development after a period of lower activity in the region. The agreement, which includes the supply of the Exact EX™ surface wellhead system, is expected to commence in Q1 2026 with an initial call-off for a jack-up rig well as part of a decommissioning campaign, and further call-offs for similar projects are anticipated, highlighting potential growth and engagement with both UK and international customers.

The most recent analyst rating on (GB:POS) stock is a Hold with a £9.50 price target. To see the full list of analyst forecasts on Plexus Holdings stock, see the GB:POS Stock Forecast page.