XP Power Ltd (GB:XPP)
LSE:XPP
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XP Power
(LSE:XPP)
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Rating:56Neutral
Price Target:
1,407.00 p
▲(13.10% Upside)
Action:ReiteratedDate:03/06/26
The score is held back primarily by weak financial performance (ongoing losses and a large TTM revenue decline), partially offset by supportive cash flow and improved leverage. Technicals are a clear positive with an established uptrend and favorable momentum indicators, while valuation remains unattractive due to negative earnings and no dividend data.
Positive Factors
Cash generation
Sustained positive free cash flow (~£32.4m TTM) is a durable strength: it funds working capital, product customization cycles and debt reduction without relying on equity issuance. Strong cash conversion provides runway to invest in customer qualification and smooth cyclical volatility.
Negative Factors
Persistent net losses
Multi-year net losses and a negative TTM net margin (-5.0%) are a structural concern: recurring losses erode equity, limit retained earnings for reinvestment and force reliance on cash reserves or financing. Persistent unprofitability risks long-term viability if recovery stalls.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained positive free cash flow (~£32.4m TTM) is a durable strength: it funds working capital, product customization cycles and debt reduction without relying on equity issuance. Strong cash conversion provides runway to invest in customer qualification and smooth cyclical volatility.
Read all positive factors
XP Power (XPP) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£348.46M
Dividend YieldN/A
Average Volume (3M)63.10K
Price to Earnings (P/E)―
Beta (1Y)0.93
Revenue Growth-18.43%
EPS Growth24.86%
CountryUK
Employees2,138
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.34
Shares Outstanding28,032,179
10 Day Avg. Volume91,192
30 Day Avg. Volume63,098
Financial Highlights & Ratios
PEG Ratio-4.28
Price to Book (P/B)1.42
Price to Sales (P/S)1.06
P/FCF Ratio7.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£1,529.33Price Target Upside22.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.49
Revenue Forecast (FY)£243.29M
XP Power Business Overview & Revenue Model
Company Description
XP Power Limited, an investment holding company, designs and manufactures power supply solutions in Europe, North America, and Asia. The company offers AC-DC power supplies, DC-DC converters, high voltage DC-DC converters, high voltage AC-DC power...
How the Company Makes Money
XP Power generates revenue primarily through the sale of its power supply products, which are essential components in various electronic systems. The company’s revenue model is based on direct sales to OEMs and distributors, with a focus on high-m...
XP Power Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
50
Neutral
Cash Flow
64
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 230.10M | 247.30M | 316.40M | 290.40M | 240.30M |
| Gross Profit | 96.30M | 97.00M | 131.30M | 120.60M | 108.30M |
| EBITDA | 19.50M | 24.00M | 32.80M | -7.10M | 42.90M |
| Net Income | -11.40M | -9.60M | -9.20M | -20.00M | 22.60M |
Balance Sheet | |||||
| Total Assets | 423.70M | 416.20M | 446.30M | 481.70M | 272.20M |
| Cash, Cash Equivalents and Short-Term Investments | 33.80M | 13.90M | 12.00M | 22.30M | 9.00M |
| Total Debt | 128.40M | 163.20M | 180.80M | 225.70M | 41.70M |
| Total Liabilities | 251.10M | 270.30M | 291.00M | 342.20M | 99.80M |
| Stockholders Equity | 172.10M | 145.30M | 154.60M | 138.60M | 171.50M |
Cash Flow | |||||
| Free Cash Flow | 32.40M | 35.30M | 17.40M | -26.90M | 13.60M |
| Operating Cash Flow | 38.00M | 55.40M | 57.50M | -7.50M | 35.50M |
| Investing Cash Flow | -26.90M | -20.00M | -39.90M | -89.30M | -21.90M |
| Financing Cash Flow | 10.20M | -33.50M | -27.00M | 103.30M | -18.70M |
XP Power Technical Analysis
Neutral
1244.00
Price Trends
1308.36
Negative
1112.24
Positive
1022.08
Positive
Market Momentum
-12.87
Positive
38.78
Neutral
13.86
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:XPP, the sentiment is Neutral. The current price of 1244 is below the 20-day moving average (MA) of 1332.20, below the 50-day MA of 1308.36, and above the 200-day MA of 1022.08, indicating a neutral trend. The MACD of -12.87 indicates Positive momentum. The RSI at 38.78 is Neutral, neither overbought nor oversold. The STOCH value of 13.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:XPP.
XP Power Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £259.85M | 3.87 | 15.22% | 3.92% | 18.90% | -20.79% | |
75 Outperform | £818.19M | 7.96 | 15.54% | 1.11% | 8.20% | 25.85% | |
64 Neutral | £272.64M | 8.85 | 13.87% | 2.58% | -0.33% | 4.58% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | £111.79M | -3.44 | 15.77% | ― | -5.73% | ― | |
56 Neutral | £348.46M | -21.41 | -6.50% | ― | -18.43% | 24.86% | |
52 Neutral | £112.51M | -3.53 | -76.88% | ― | 732.03% | 12.60% |
* Industrials Sector Average
GB:XPP
XP Power
1,244.00
476.00
61.98%
GB:AFC
AFC Energy
9.90
4.40
80.00%
GB:DIA
Dialight
278.00
158.00
131.67%
GB:LUCE
Luceco plc
168.60
42.56
33.77%
GB:TFW
FW Thorpe Plc
242.00
-42.89
-15.05%
GB:VLX
Volex plc
445.50
206.40
86.32%
XP Power Corporate Events
Regulatory Filings and Compliance
XP Power Discloses Share Purchase Linked to Board Chair
Neutral
Mar 4, 2026
XP Power Limited reported a director-related share dealing, disclosing that the wife of Non-Executive Chair Jamie Pike purchased 7,496 ordinary shares in the company on 4 March 2026. The transaction, carried out on the London Stock Exchange at ...
Regulatory Filings and Compliance
XP Power Senior Independent Director Boosts Stake With Share Purchase
Positive
Mar 3, 2026
XP Power Limited disclosed that Senior Independent Director Charlotta Ginman has increased her personal stake in the company by purchasing 1,515 ordinary shares at £13.36 each, bringing her total holding to 2,045 shares. The director dealing,...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
XP Power lifts orders and margins as destocking eases and restructuring cuts debt
Positive
Mar 3, 2026
XP Power reported a 28% constant‑currency increase in order intake to £225.9m for 2025, driven by easing customer destocking in industrial technology and healthcare and a gradual improvement in semiconductor equipment demand. Group reve...
Business Operations and StrategyFinancial Disclosures
XP Power to Exit RF Division as 2025 Trading Meets Expectations and Manufacturing Shifts to Malaysia
Neutral
Jan 19, 2026
XP Power reported that its 2025 trading performance was in line with market expectations, with full-year order intake rising 24% to £225.9m and a stronger second half helping offset a 7% decline in revenue to £229.7m. The group ended the...
Executive/Board ChangesRegulatory Filings and Compliance
XP Power CEO Exercises Share Options and Sells to Cover Tax
Neutral
Dec 16, 2025
XP Power announced that CEO Gavin Griggs exercised options over 6,371 ordinary shares, granted under the company’s Deferred Bonus Plan, and sold 3,002 shares to cover tax liabilities. This transaction, compliant with UK Market Abuse Regulati...
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.