XP Power Ltd (GB:XPP)
LSE:XPP
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XP Power
(LSE:XPP)
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Rating:56Neutral
Price Target:
1,265.00 p
▼(-11.79% Downside)
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
Free Cash Flow Generation
Consistent positive free cash flow (~£32.4m TTM) provides a durable internal funding source to support operations, R&D and working capital without reliance on equity issuance. This cash buffer improves resilience through cyclical demand swings and funds debt paydown or targeted investment.
Negative Factors
Sustained Net Losses and Revenue Decline
Multi-year net losses and a sharp ~43% TTM revenue decline materially weaken the company's ability to generate returns and invest for growth. Persistent top-line contraction erodes operating leverage and makes margin recovery harder without structural demand improvement or cost restructuring.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Generation
Consistent positive free cash flow (~£32.4m TTM) provides a durable internal funding source to support operations, R&D and working capital without reliance on equity issuance. This cash buffer improves resilience through cyclical demand swings and funds debt paydown or targeted investment.
Read all positive factors
XP Power (XPP) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£397.20M
Dividend YieldN/A
Average Volume (3M)63.10K
Price to Earnings (P/E)―
Beta (1Y)0.90
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 Upside6.65% 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 primarily makes money by selling power conversion products to original equipment manufacturers (OEMs) and other business customers. Its core revenue streams come from (1) AC-DC power supplies that convert mains electricity to regulated DC...
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
Positive
1434.00
Price Trends
1342.56
Positive
1155.56
Positive
1045.12
Positive
Market Momentum
21.26
Negative
64.91
Neutral
99.04
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:XPP, the sentiment is Positive. The current price of 1434 is above the 20-day moving average (MA) of 1307.30, above the 50-day MA of 1342.56, and above the 200-day MA of 1045.12, indicating a bullish trend. The MACD of 21.26 indicates Negative momentum. The RSI at 64.91 is Neutral, neither overbought nor oversold. The STOCH value of 99.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | £311.33M | 9.77 | 20.71% | 3.92% | 18.90% | -20.79% | |
78 Outperform | £991.75M | 7.96 | 14.90% | 1.11% | 8.20% | 25.85% | |
64 Neutral | £293.33M | 8.85 | 13.58% | 2.58% | -0.33% | 4.58% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | £118.32M | 21.25 | -31.80% | ― | -5.73% | ― | |
56 Neutral | £397.20M | -21.41 | -6.50% | ― | -18.43% | 24.86% | |
52 Neutral | £146.61M | -3.53 | -76.88% | ― | 732.03% | 12.60% |
* Industrials Sector Average
GB:XPP
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XP Power Corporate Events
Regulatory Filings and Compliance
XP Power executives exercise share options and disclose dealings
Neutral
Mar 31, 2026
XP Power has reported director dealings in its ordinary shares following the exercise of share options by senior executives. Chief executive Gavin Griggs exercised options over 4,015 shares at £0.01 each and sold 1,895 shares on the London St...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
XP Power Publishes 2025 Annual Report and Sets 2026 AGM
Neutral
Mar 19, 2026
XP Power has published its Annual Report and Accounts for the year ended 31 December 2025, following the release of its annual results earlier in March. The company has also issued the notice of its 2026 Annual General Meeting, making both documen...
Executive/Board ChangesRegulatory Filings and Compliance
XP Power awards long-term share incentives to senior executives
Neutral
Mar 11, 2026
XP Power has granted nominal-priced share options and nil-cost awards to its top executives under its Restricted Share Plan 2020, Long Term Incentive Plan 2017 and Deferred Bonus Plan 2017. The awards to CEO Gavin Griggs, CFO Matt Webb and Asia EV...
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...
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.