Thalassa Holdings Ltd (GB:THAL)
LSE:THAL
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Thalassa Holdings
(LSE:THAL)
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Rating:48Neutral
Price Target:
22.50 p
▼(-8.16% Downside)
Action:Reiterated
Date:05/08/26
The score is held down primarily by weak financial performance—persistent losses and negative operating/free cash flow—despite a strong, low-leverage balance sheet. Technicals are mixed (slightly positive momentum but elevated RSI and below the 200-day average), and valuation is unattractive given the negative P/E.
Positive Factors
Strong balance sheet
Thalassa's capital structure is conservatively positioned: equity approximately equals total assets and nominal debt. This durable solvency cushion reduces short-to-medium-term default risk, supports operational continuity through losses, and preserves optionality for strategic moves or capital raises over months.
Negative Factors
Persistent losses
The company has been largely loss-making across recent years, culminating in a deep net loss in 2025. Persistent negative profitability erodes equity, prevents retained-earnings recovery, impedes reinvestment, and makes sustainable improvement dependent on structural business changes rather than short-term fixes.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
Thalassa's capital structure is conservatively positioned: equity approximately equals total assets and nominal debt. This durable solvency cushion reduces short-to-medium-term default risk, supports operational continuity through losses, and preserves optionality for strategic moves or capital raises over months.
Read all positive factors
Thalassa Holdings (THAL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£3.91M
Dividend YieldN/A
Average Volume (3M)3.14K
Price to Earnings (P/E)―
Beta (1Y)-0.19
Revenue Growth-84.98%
EPS Growth35.48%
CountryUK
Employees5
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)-0.08
Shares Outstanding16,655,838
10 Day Avg. Volume1,106
30 Day Avg. Volume3,139
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.62
Price to Sales (P/S)309.28
P/FCF Ratio-16.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Thalassa Holdings Business Overview & Revenue Model
Company Description
Thalassa Holdings Limited, together with its subsidiaries, develops control software for the flying node bespoke seismic sensor system. It also offers a range of products and services covering cashless payments, fan engagement, and access control,...
How the Company Makes Money
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Thalassa Holdings Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
27
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Jun 2023 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 17.75K | -219.39K | 535.76K | 295.97K | 138.66K |
| Gross Profit | -80.19K | -256.92K | -17.22K | 200.04K | 83.53K |
| EBITDA | -613.54K | -921.96K | -316.81K | -1.02M | -1.63M |
| Net Income | -1.37M | -1.01M | -891.71K | -1.45M | -1.98M |
Balance Sheet | |||||
| Total Assets | 9.29M | 10.96M | 12.43M | 13.18M | 17.99M |
| Cash, Cash Equivalents and Short-Term Investments | 3.58M | 3.92M | 1.31M | 1.89M | 6.59M |
| Total Debt | 15.75K | 0.00 | 1.58M | 1.67M | 5.73M |
| Total Liabilities | 480.38K | 573.51K | 3.14M | 2.88M | 6.84M |
| Stockholders Equity | 8.81M | 10.39M | 9.29M | 10.30M | 11.15M |
Cash Flow | |||||
| Free Cash Flow | -324.88K | -1.20M | -348.20K | -527.48K | -3.66M |
| Operating Cash Flow | -324.88K | -905.97K | -345.86K | 408.30K | -1.88M |
| Investing Cash Flow | -9.80K | -1.46M | -537.00K | -693.11K | -2.50M |
| Financing Cash Flow | 129.37K | 2.75M | -160.54K | -4.32M | 2.52M |
Thalassa Holdings Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | £6.96M | -4.82 | -2.88% | ― | -24.66% | -158.42% | |
48 Neutral | £3.91M | -4.01 | -12.73% | ― | -84.98% | 35.48% | |
47 Neutral | £13.34M | -1.04 | -7.46% | ― | ― | 47.17% | |
44 Neutral | £5.79M | -1.16 | -20.68% | ― | -73.26% | -370.18% | |
43 Neutral | £4.16M | -0.31 | ― | ― | ― | ― | |
43 Neutral | £3.28M | 3.66 | -42.59% | ― | 7.34% | 74.70% |
* Energy Sector Average
GB:THAL
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1.00
4.44%
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Thalassa Holdings Corporate Events
Business Operations and StrategyFinancial Disclosures
Thalassa Holdings posts wider 2025 loss but advances subsea defence technology
Negative
Apr 30, 2026
Thalassa Holdings reported a widened loss after tax of £1.37m for 2025 versus £1.01m in 2024, as book value per share declined to £0.53 from £0.62 and Investment Holdings fell to £5.9m from £7.9m. Cash reserves also d...
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.