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Tristel PLC (GB:TSTL)
LSE:TSTL

Tristel (TSTL) AI Stock Analysis

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GB:TSTL

Tristel

(LSE:TSTL)

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Outperform 77 (OpenAI - 5.2)
Rating:77Outperform
Price Target:
482.00p
▲(13.41% Upside)
Tristel's strong financial performance and positive earnings call outlook are the primary drivers of its stock score. While technical indicators suggest caution due to overbought conditions, the company's strategic expansion and dividend increase support a favorable long-term view. Valuation concerns are mitigated by the company's growth prospects.
Positive Factors
Revenue Growth
Consistent revenue growth indicates strong market demand and effective sales strategies, supporting long-term business expansion.
Market Expansion
Successful U.S. market entry and product clearance enhance Tristel's growth potential and competitive positioning in a key market.
Profitability and Margins
High gross margins and profit growth reflect efficient operations and pricing power, supporting sustainable profitability.
Negative Factors
Budget Constraints Post-COVID
Budget constraints in healthcare could limit demand for premium products, impacting revenue growth in the infection prevention sector.
Flat Growth in Australia
Flat growth in Australia suggests regional challenges that could hinder overall geographic expansion and revenue diversification.
Commoditized Market Challenges
Operating in a commoditized market can pressure margins and limit differentiation, challenging Tristel's premium product strategy.

Tristel (TSTL) vs. iShares MSCI United Kingdom ETF (EWC)

Tristel Business Overview & Revenue Model

Company DescriptionTristel plc (TSTL) is a UK-based company that specializes in infection prevention and control, primarily serving the healthcare sector. The company focuses on developing and manufacturing infection control products, particularly in the areas of surface disinfection and medical device decontamination. Tristel's core offerings include its proprietary chlorine dioxide-based disinfectant products, which are designed to provide effective and safe disinfection solutions across various healthcare environments.
How the Company Makes MoneyTristel generates revenue primarily through the sale of its disinfection products to healthcare facilities, including hospitals, clinics, and laboratories. The company's revenue model is based on direct sales, distribution partnerships, and licensing agreements. Key revenue streams include the sale of its proprietary disinfectant products, which are sold in various forms such as sprays and wipes, as well as its contract services for disinfecting equipment. Significant partnerships with healthcare providers and distribution channels enhance its market reach, while the growing emphasis on infection control in healthcare settings contributes to an increasing demand for its products.

Tristel Earnings Call Summary

Earnings Call Date:Oct 13, 2025
(Q4-2025)
|
% Change Since: |
Next Earnings Date:Mar 02, 2026
Earnings Call Sentiment Positive
The earnings call presented a positive outlook with significant revenue growth, successful expansion into new markets, and increased dividends, despite challenges in certain regions and a commoditized market segment.
Q4-2025 Updates
Positive Updates
Double-Digit Revenue Growth
Tristel plc achieved a double-digit revenue growth of 11%, with a constant currency increase of 12.4% to GBP 46.5 million.
Increased Gross Margins and Adjusted PBT
Gross margins increased to 81%, contributing to adjusted PBT reaching GBP 10.1 million, a year-over-year growth of 23%.
Successful Expansion in U.S. Market
Tristel achieved clearance for their second product in the U.S., Tristel OPH, and has strong engagement with over 200 health systems.
Dividend Increase
The full-year dividend will be 14.2p per share, a 5% increase year-on-year.
Geographic and Product Expansion
Tristel went direct in markets including Spain, Austria, and India, and launched a new product, VISICLEAN, post period end.
Negative Updates
Headwinds Post-COVID
Hospitals are tightening budgets in infection prevention post-COVID, focusing more on cost control.
Flat Growth in Australia
While Asia Pacific grew by 6%, growth in Australia was reported as flat.
Challenges in Surface Disinfection Market
The surface disinfection market is largely low margin and commoditized, posing a challenge for high-value products like Tristel's.
Company Guidance
In the recent investor presentation, Tristel plc provided comprehensive guidance, highlighting several key metrics. The company reported an 11% revenue growth for the fiscal year ending June 2025, with constant currency growth at 12.4%, reaching GBP 46.5 million. Gross margins increased to 81%, contributing to an adjusted profit before tax (PBT) of GBP 10.1 million, marking a 23% year-over-year increase. The EBITDA margin remained high at 28% on an adjusted basis. Furthermore, Tristel announced a 5% increase in dividends to 14.2p per share. The company is actively expanding its market presence, having gone direct in Spain, Austria, and India, and achieved regulatory clearance for its second product in the U.S. Tristel OPH, the first high-level disinfectant for ophthalmology devices. Tristel is also focusing on clinical studies to strengthen its market position, highlighting recent research on biofilms and HPV. The company aims for double-digit growth in the coming years, with a long-term goal of reaching GBP 100 million in revenue by FY 2030, driven by geographic expansion, particularly in the U.S., and new product innovations.

Tristel Financial Statement Overview

Summary
Tristel shows robust financial performance with strong revenue growth, high profitability margins, and excellent cash flow generation. The company maintains a strong balance sheet with low leverage, indicating financial stability and the ability to fund future growth.
Income Statement
85
Very Positive
Tristel has demonstrated strong revenue growth with a 16.45% increase from 2023 to 2024. The company maintains robust profitability, indicated by a high gross profit margin of 73.61% and a net profit margin of 15.47% in 2024. EBIT and EBITDA margins are also solid at 16.81% and 23.86% respectively, showcasing effective cost management and operational efficiency. These metrics reflect a healthy and growing income statement, bolstered by consistent revenue and profit growth.
Balance Sheet
78
Positive
Tristel's balance sheet is strong, with a low debt-to-equity ratio of 0.18, indicating manageable leverage. The company's equity ratio is 73.47%, suggesting a high level of stability and financial health. Return on equity is impressive at 20.02%, reflecting efficient use of equity to generate profit. The combination of low leverage and high equity ratio highlights a stable financial position with low risk exposure.
Cash Flow
70
Positive
Tristel's cash flow performance is excellent, with a significant free cash flow growth rate of 65.81% from 2023 to 2024. The operating cash flow to net income ratio is 1.73, indicating strong cash generation relative to profits. The free cash flow to net income ratio is also robust at 1.55, reflecting efficient conversion of profit to cash. This strong cash flow position supports the company's liquidity and ability to fund growth initiatives.
BreakdownTTMDec 2025Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue46.46M46.46M41.93M36.01M31.12M31.00M
Gross Profit37.94M37.94M33.58M29.18M24.66M24.74M
EBITDA11.47M11.47M10.01M7.90M4.46M6.70M
Net Income6.64M6.64M6.49M4.46M987.00K3.66M
Balance Sheet
Total Assets45.33M45.33M44.11M41.37M38.74M39.93M
Cash, Cash Equivalents and Short-Term Investments12.84M12.84M11.79M9.54M8.88M8.09M
Total Debt5.88M5.88M5.86M5.18M5.81M5.91M
Total Liabilities12.34M12.34M11.70M10.68M9.75M9.85M
Stockholders Equity32.99M32.99M32.41M30.68M28.98M30.08M
Cash Flow
Free Cash Flow9.58M9.46M10.06M6.07M4.35M4.71M
Operating Cash Flow10.44M10.32M10.89M8.49M5.55M6.48M
Investing Cash Flow-376.00K-254.00K-5.08M-4.84M-1.20M-1.77M
Financing Cash Flow-7.30M-7.30M-6.57M-5.44M-3.62M-2.83M

Tristel Technical Analysis

Technical Analysis Sentiment
Positive
Last Price425.00
Price Trends
50DMA
382.24
Positive
100DMA
368.25
Positive
200DMA
363.73
Positive
Market Momentum
MACD
12.91
Positive
RSI
57.72
Neutral
STOCH
36.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TSTL, the sentiment is Positive. The current price of 425 is above the 20-day moving average (MA) of 417.40, above the 50-day MA of 382.24, and above the 200-day MA of 363.73, indicating a bullish trend. The MACD of 12.91 indicates Positive momentum. The RSI at 57.72 is Neutral, neither overbought nor oversold. The STOCH value of 36.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:TSTL.

Tristel Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
77
Outperform
£200.62M30.0320.31%3.48%10.80%1.75%
70
Outperform
£10.64B27.709.30%2.35%2.51%56.56%
69
Neutral
£476.93M52.243.66%1.25%68.03%-18.27%
68
Neutral
£4.76B28.8212.73%2.11%4.18%37.65%
66
Neutral
£950.03M49.966.75%0.67%4.00%-6.98%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
43
Neutral
£4.20M-3.00-15.46%-4.98%-114.29%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:TSTL
Tristel
418.00
36.30
9.51%
GB:AMS
Advanced Medical Solutions
222.00
-0.18
-0.08%
GB:CTEC
ConvaTec
236.00
1.73
0.74%
GB:CVSG
CVS Group plc
1,344.00
502.85
59.78%
GB:SUN
Surgical Innovations
0.45
-0.10
-18.18%
GB:SN
Smith & Nephew
1,203.00
216.83
21.99%

Tristel Corporate Events

Delistings and Listing ChangesRegulatory Filings and Compliance
Tristel Increases Share Capital After Employee Option Exercise
Neutral
Jan 8, 2026

Tristel plc has issued and allotted 84,500 new ordinary shares following the exercise of employee share options, with the shares expected to be admitted to trading on AIM on 15 January 2026. Following this admission, Tristel’s total shares in issue and total voting rights will rise to 47,850,043, a new baseline figure for shareholders assessing whether they must disclose holdings or changes in their interest under UK transparency rules.

The most recent analyst rating on (GB:TSTL) stock is a Buy with a £482.00 price target. To see the full list of analyst forecasts on Tristel stock, see the GB:TSTL Stock Forecast page.

Other
Tristel Director Increases Shareholding, Signaling Confidence in Company Growth
Positive
Dec 12, 2025

Tristel plc announced that Tom Jenkins, a Non-Executive Director, purchased 5,400 ordinary shares in the company at a price of 368 pence per share, increasing his beneficial interest to 13,400 shares, which represents 0.03% of the total issued share capital. This transaction highlights the confidence of the company’s leadership in its market position and future prospects, potentially reassuring stakeholders about the company’s stability and growth trajectory.

The most recent analyst rating on (GB:TSTL) stock is a Buy with a £420.00 price target. To see the full list of analyst forecasts on Tristel stock, see the GB:TSTL Stock Forecast page.

Private Placements and FinancingRegulatory Filings and Compliance
Tristel Announces New Share Issuance Following Employee Option Exercise
Neutral
Dec 12, 2025

Tristel plc has announced the issuance of 18,500 new ordinary shares following the exercise of employee share options. These shares are set to be admitted to trading on the AIM market of the London Stock Exchange on December 18, 2025, increasing the total number of voting rights to 47,765,543. This development allows shareholders to reassess their interests in the company’s share capital under regulatory guidelines.

The most recent analyst rating on (GB:TSTL) stock is a Buy with a £420.00 price target. To see the full list of analyst forecasts on Tristel stock, see the GB:TSTL Stock Forecast page.

Business Operations and StrategyShareholder Meetings
Tristel plc AGM Resolutions Passed Amid Governance Commitments
Positive
Dec 11, 2025

At Tristel plc’s recent Annual General Meeting, all resolutions were passed, including the adoption of the company’s annual accounts, despite some opposition from proxy voting advisers. The board has committed to improving transparency and aligning future practices with best governance standards. This commitment reflects Tristel’s focus on governance best practices and sustainable growth, which is crucial for maintaining shareholder confidence and industry leadership.

The most recent analyst rating on (GB:TSTL) stock is a Buy with a £420.00 price target. To see the full list of analyst forecasts on Tristel stock, see the GB:TSTL Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Tristel plc Reports Strong Start to Financial Year with Significant US Growth
Positive
Dec 11, 2025

Tristel plc announced a strong start to the financial year with trading aligning with expectations and a projected revenue growth of at least 10% year-on-year. The company is experiencing robust demand in the UK and Europe, with significant growth in the US market, where sales have increased by 510% compared to the previous year. This growth is driven by the adoption of Tristel’s chlorine dioxide technologies and the launch of new products, positioning the company for further expansion in the healthcare market.

The most recent analyst rating on (GB:TSTL) stock is a Buy with a £420.00 price target. To see the full list of analyst forecasts on Tristel stock, see the GB:TSTL Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
Tristel plc Grants New Share Options to Leadership
Neutral
Nov 24, 2025

Tristel plc has announced the granting of 181,972 new share options to its CEO and CFO under its Long Term Incentive Plan. The performance targets for these options are based on earnings per share and total shareholder return, reflecting adjustments for tax impacts and growth investments. This move is part of Tristel’s strategy to align leadership incentives with shareholder value, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (GB:TSTL) stock is a Buy with a £420.00 price target. To see the full list of analyst forecasts on Tristel stock, see the GB:TSTL Stock Forecast page.

Business Operations and StrategyProduct-Related Announcements
Tristel’s ULT™ Gains Recognition in Updated US Disinfection Guidelines
Positive
Nov 24, 2025

Tristel plc announced that the American Institute of Ultrasound in Medicine has updated its guidelines to include chlorine dioxide as an accepted option for high-level disinfection of ultrasound probes. This inclusion marks a significant milestone for Tristel’s ULT™ foam product, which is the only FDA-cleared chlorine dioxide foam disinfectant for ultrasound probes in the US market, manufactured and distributed by Parker Laboratories under an exclusive partnership. The update, alongside the national standard recognition, is expected to accelerate the adoption of Tristel ULT™ in the US, benefiting clinicians, infection-prevention teams, and hospital administrators.

The most recent analyst rating on (GB:TSTL) stock is a Buy with a £420.00 price target. To see the full list of analyst forecasts on Tristel stock, see the GB:TSTL Stock Forecast page.

Business Operations and StrategyFinancial DisclosuresShareholder Meetings
Tristel plc Announces 2025 AGM and Annual Report Release
Positive
Nov 18, 2025

Tristel plc has announced the posting of its 2025 Annual Report and Accounts, along with the Notice of its Annual General Meeting scheduled for December 11, 2025. The company continues to focus on its growth strategy, maintaining profitability and a progressive dividend policy, which reinforces its strong market position in the infection prevention industry.

The most recent analyst rating on (GB:TSTL) stock is a Buy with a £420.00 price target. To see the full list of analyst forecasts on Tristel stock, see the GB:TSTL Stock Forecast page.

Delistings and Listing ChangesPrivate Placements and Financing
Tristel Issues New Shares Following Employee Option Exercise
Neutral
Oct 16, 2025

Tristel plc announced the issuance and allotment of 2,000 new ordinary shares following the exercise of employee share options. These shares are set to be admitted to trading on AIM, increasing the total number of ordinary shares and voting rights to 47,747,043. This development allows shareholders to calculate their interests in the company’s share capital under the FCA’s Disclosure Guidance and Transparency Rules.

The most recent analyst rating on (GB:TSTL) stock is a Buy with a £420.00 price target. To see the full list of analyst forecasts on Tristel stock, see the GB:TSTL Stock Forecast page.

Delistings and Listing ChangesRegulatory Filings and Compliance
Tristel Expands Share Capital with New Issuance
Neutral
Oct 13, 2025

Tristel plc has announced the issuance and allotment of 5,000 new ordinary shares following the exercise of share options by its employees. This move will increase the total number of ordinary shares and voting rights to 47,745,043, which may affect shareholders’ interests under the FCA’s Disclosure Guidance and Transparency Rules. The new shares are expected to commence trading on AIM on 16 October 2025, alongside previously announced shares, potentially impacting the company’s market positioning and shareholder calculations.

The most recent analyst rating on (GB:TSTL) stock is a Buy with a £420.00 price target. To see the full list of analyst forecasts on Tristel stock, see the GB:TSTL Stock Forecast page.

Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Tristel Achieves Strong Financial Growth and Operational Milestones in 2025
Positive
Oct 13, 2025

Tristel plc reported strong financial results for the year ending June 2025, with an 11% increase in turnover to £46.5m and a 23% rise in adjusted pre-tax profit to £10.1m. The company achieved significant operational milestones, including FDA clearance for a new disinfectant foam and successful insourcing of manufacturing operations. With a solid cash position and new product launches, Tristel is poised for sustained revenue growth and enhanced market positioning, particularly in the US, where demand remains high.

The most recent analyst rating on (GB:TSTL) stock is a Buy with a £420.00 price target. To see the full list of analyst forecasts on Tristel stock, see the GB:TSTL Stock Forecast page.

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.Date of analysis: Dec 19, 2025