WH Ireland Group plc (WHI) AI Stock Analysis

• Market Cap: £9.90M
• Dividend Yield: N/A
• Average Volume (3M): 1.01M
• Price to Earnings (P/E): ―
• Beta (1Y): -1.02
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: 133
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): >-0.01
• Shares Outstanding: 235,986,200
• 10 Day Avg. Volume: 2,059,949
• 30 Day Avg. Volume: 1,010,726
• PEG Ratio: 0.60
• Price to Book (P/B): 99.76
• Price to Sales (P/S): -46140.00
• P/FCF Ratio: -186.05
• 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: 48 Neutral
• Price Target: 4.00p ▲(3.90% Upside)

The score is driven primarily by weak financial performance—negative/declining revenue, recurring losses, equity erosion, and persistent cash burn—partly offset by a debt-free balance sheet. Technicals are moderately supportive (price above key moving averages and positive MACD), but overbought RSI tempers momentum. Corporate events add mixed uncertainty despite progress toward a takeover, while valuation impact is limited due to missing P/E and dividend data.

Positive Factors

Low Financial Leverage

A debt-free balance sheet materially reduces refinancing and interest risk, giving management flexibility to support operations, fund restructuring, or pursue strategic options without immediate debt service. This durability helps absorb medium-term shocks while turnaround plans execute.

Recurring fee-based business model

A core revenue mix of recurring management and platform fees provides structural cashflow predictability versus pure transaction income. Long-term client relationships and AUM-linked fees can anchor revenue and margins over months, supporting recovery if AUM stabilises or grows.

Progress toward recommended acquisition

A progressing takeover represents a structural corporate change that can deliver capital, scale and operational integration. Successful completion could provide access to broader distribution, cost synergies and balance sheet support that materially alters the company’s medium-term viability.

Negative Factors

Chronic negative cash generation

Sustained negative operating and free cash flow depletes liquidity and forces reliance on external capital or asset disposals. This structural cash burn constrains reinvestment in client services and technology, raising solvency risk if turnaround or financing options fail to materialise.

Revenue collapse and persistent losses

A multi-year decline from positive revenue to negative reported revenue and recurring losses signals structural deterioration in core advisory and wealth management activities. This undermines profitability, client retention and margin sustainability absent substantial business model or market-share recovery.

Severe equity erosion

A materially reduced equity base weakens the company’s loss-absorption capacity and limits strategic options. Low capitalisation increases vulnerability to further losses, makes debt financing harder or more costly, and can necessitate dilutive equity raises that constrain long-term shareholder value.

WH Ireland Group plc Business Overview & Revenue Model

Company Description

WH Ireland Group plc, a financial services company, provides wealth management, wealth planning, and broking services primarily in the United Kingdom. It operates through two segments, Wealth Management and Capital Markets. The Wealth Management segment provides wealth management solutions and independent financial advisory services to retail clients. The Capital Markets Division provides public and private growth capital, day-to-day and strategic corporate advice, broking, trading, and equity research to funds, high net worth individuals, and family offices. This segment also acts as nominated adviser to clients traded on the Alternative Investment Market and engages in the Institutional sales and research business, which carries out stockbroking activities on behalf of companies, as well as conducting research into markets of interest to its clients. The company was founded in 1872 and is headquartered in London, the United Kingdom.

How the Company Makes Money

WH Ireland Group plc generates revenue through a diversified business model focused on wealth management and capital markets services. In wealth management, the company earns money through management fees and commissions from investment advisory and portfolio management services provided to private clients and institutions. In the capital markets sector, WHI derives income from corporate finance activities, including advisory fees for mergers and acquisitions, fundraisings, and IPOs. Additionally, the company earns broking commissions from executing trades for its clients. WHI's revenue streams are supported by its strategic partnerships and its ability to attract high-net-worth individuals and corporate clients seeking bespoke financial solutions.

WH Ireland Group plc Financial Statement Overview

Summary

Financials show severe operating stress: reported revenue turned negative in 2023–2025, losses occurred in 5 of the last 6 years with a very large loss in 2025, and operating/free cash flow have been consistently negative (FCF negative every year shown). The main offset is low financial leverage with £0 debt in 2024–2025, but equity has eroded sharply by 2025, increasing fragility.

Income Statement

Performance has deteriorated meaningfully: revenue fell from ~£29.6m (2021) and £32.0m (2022) to negative reported revenue in 2023–2025, making margins difficult to interpret and signaling severe pressure on the core business. Profitability is consistently weak with losses in 5 of the last 6 annual periods, culminating in a very large net loss in 2025 (annual report). The main positive is that the company has shown it can be profitable in a better environment (2021 and small profit in 2022), but the recent trajectory is strongly negative and dominates the assessment.

Balance Sheet

Leverage is low and improving, with total debt at £0 in 2024 and 2025 (annual reports), which reduces financial risk. However, the balance sheet has weakened through losses: equity fell sharply from ~£15.4m (2022) and ~£13.6m (2023) to ~£14.3m (2024) and then to ~£5.6m (2025), indicating substantial capital erosion. Returns on equity are negative in most years (and deeply negative in 2025), which highlights that the current balance sheet strength is being consumed by ongoing losses.

Cash Flow

Cash generation is a major concern: operating cash flow is negative in 5 of the last 6 annual periods (only 2021 was positive), and free cash flow is negative every year shown, including 2024 and 2025. While 2025 shows an improvement in free cash flow versus 2024 (less cash burn), the business is still consuming cash rather than producing it. The key positive is that cash burn appears somewhat reduced in the latest year, but it remains structurally negative.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	-5.35M	-12.00K	-583.00K	-2.68M	32.03M	29.56M
Gross Profit	-5.35M	-12.00K	-583.00K	14.72M	19.90M	20.40M
EBITDA	95.00K	0.00	201.00K	-1.59M	2.94M	2.38M
Net Income	-8.88M	-9.23M	-5.94M	-1.94M	75.00K	1.15M
Balance Sheet
Total Assets	7.33M	8.07M	19.54M	21.05M	26.61M	27.56M
Cash, Cash Equivalents and Short-Term Investments	3.04M	3.54M	5.57M	6.28M	8.36M	9.17M
Total Debt	0.00	0.00	0.00	612.00K	1.38M	2.06M
Total Liabilities	2.60M	2.52M	5.20M	7.41M	11.20M	12.48M
Stockholders Equity	4.72M	5.55M	14.34M	13.64M	15.41M	15.09M
Cash Flow
Free Cash Flow	-2.48M	-2.98M	-5.31M	-1.52M	-2.71M	4.89M
Operating Cash Flow	-2.45M	-2.97M	-5.30M	-1.05M	-2.60M	5.09M
Investing Cash Flow	973.00K	1.64M	1.33M	-35.00K	1.83M	-5.05M
Financing Cash Flow	-121.00K	-119.00K	4.64M	-1.13M	-992.00K	4.44M

WH Ireland Group plc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.85
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:WHI, the sentiment is Positive. The current price of 3.85 is below the 20-day moving average (MA) of 4.20, below the 50-day MA of 3.89, and above the 200-day MA of 2.45, indicating a bullish trend. The MACD of 0.14 indicates Positive momentum. The RSI at 85.34 is Negative, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:WHI.

WH Ireland Group plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FKE	79 Outperform	£8.87M	6.57	12.70%	2.64%	6.86%	64.55%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CAV	60 Neutral	£39.30M	23.84	3.69%	7.96%	-9.55%	―
PEEL	58 Neutral	£135.33M	27.29	4.84%	―	15.42%	―
TAVI	56 Neutral	£14.55M	2.62	14.69%	2.12%	-17.37%	―
CBG	51 Neutral	$753.65M	-7.55	-9.28%	―	-15.79%	-211.91%
WHI	48 Neutral	£9.90M	―	―	―	―	―

WH Ireland Group plc Corporate Events

WH Ireland Confirms Board Change Ahead of Proposed Takeover by Teams plc

WH Ireland Group plc, through its Wealth Management division, offers restricted financial planning advice and discretionary investment management services, aiming to develop long-term client relationships and tailored financial strategies for individuals and their families. The company has confirmed that Simon Moore’s resignation as a director has taken effect as of 9 January 2026, and in light of the proposed conditional acquisition of WH Ireland by Teams plc via a scheme of arrangement, Chief Executive Officer Phillip Wale will serve as interim chairman of the board until the transaction becomes effective, signalling a transitional governance phase ahead of the potential change in ownership.

The most recent analyst rating on (GB:WHI) stock is a Hold with a £4.00 price target. To see the full list of analyst forecasts on WH Ireland Group plc stock, see the GB:WHI Stock Forecast page.

W.H. Ireland Shareholders Approve TEAM plc Takeover Scheme

Shareholders of W.H. Ireland Group plc have overwhelmingly approved the recommended acquisition of the company by TEAM plc via a court-sanctioned scheme of arrangement under the UK Companies Act. At both the Court Meeting and General Meeting held on 8 January 2026, the requisite majorities voted in favour of the scheme and the related special resolution to amend W.H. Ireland’s articles, satisfying key conditions for the transaction and paving the way for the deal to proceed, subject to remaining regulatory and court approvals. The companies expect the court sanction hearing around 20 March 2026 and the scheme to become effective around 24 March 2026, after which W.H. Ireland’s shares will be delisted from AIM and replaced by new TEAM plc shares, marking a significant structural change for existing shareholders and consolidating W.H. Ireland’s operations under TEAM’s ownership.

The most recent analyst rating on (GB:WHI) stock is a Hold with a £4.00 price target. To see the full list of analyst forecasts on WH Ireland Group plc stock, see the GB:WHI Stock Forecast page.

Team plc Clears Key Shareholder Hurdle in WH Ireland Takeover

W.H. Ireland Group plc has confirmed that a key condition for its recommended acquisition by wealth and asset management firm Team plc has been met, after Team’s shareholders approved the transaction at an extraordinary general meeting. The takeover, to be implemented via a court-sanctioned scheme of arrangement, still requires several regulatory and shareholder approvals, including consent from the UK Financial Conduct Authority and votes at WH Ireland’s own court and general meetings scheduled for 8 January 2026, with the company urging strong shareholder participation as it moves toward completion of the deal.

WH Ireland Narrows Loss but Revenue Halves Ahead of Recommended Takeover by TEAM plc

WH Ireland reported interim results for the six months to 30 September 2025 showing revenue more than halved to £4.2m from £8.5m a year earlier, largely due to the prior sale of its Capital Markets division and the loss of key investment managers, while total assets under management fell to £0.97bn and the group posted a statutory pre-tax loss of £0.9m. Although administrative costs were cut by a similar proportion and losses narrowed, cash balances declined to £3.0m and the wealth management arm has been classified as held for sale, with the board pursuing a full exit that has culminated in a recommended £12.7m all-share acquisition by Jersey-based TEAM plc, expected to complete by the end of the first quarter of 2026 subject to court, shareholder and regulatory approvals; the deal aims to create a diversified, well-governed wealth and asset management group and is intended to support an orderly transfer for clients following a period of operational and market uncertainty.

WH Ireland Considers Potential Acquisition Offer from Team plc

WH Ireland Group plc has received a non-binding proposal from Team plc for a potential all-share acquisition, with an exchange ratio of 0.195 Team shares per WH Ireland share. The board is currently evaluating this proposal with its advisers, although there is no certainty that a formal offer will be made. This development could significantly impact WH Ireland’s market positioning and shareholder value, pending further announcements.

WH Ireland Announces Board Changes Amidst Leadership Transition

WH Ireland Group plc announced a change in its board of directors, with Garry Stran stepping down earlier than initially planned. The company is actively seeking a replacement Independent Non-Executive Director, while Simon Moore remains in his position, potentially leaving sooner if possible. This change in leadership may impact the company’s strategic direction and stakeholder relations.