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XP Power
(LSE:XPP)
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Rating:54Neutral
Price Target:
1,914.00 p
▲(32.00% Upside)
Action:Reiterated
Date:05/06/26
The score is held back primarily by weak financial performance (multi-year net losses and sharply lower TTM revenue), partially offset by supportive cash generation and improved leverage. Technicals are a positive contributor with a strong uptrend, though overbought readings add risk. Valuation remains pressured due to negative earnings and no dividend yield data.
Positive Factors
Strong free cash flow
Positive, improving free cash flow (TTM ~32.4m) provides a durable financial buffer despite accounting losses. Sustained cash generation funds R&D, supports customer qualification cycles, services debt and allows selective reinvestment without relying on equity raises.
Negative Factors
Persistent multi-year net losses
Sustained accounting losses over multiple years erode equity and limit retained earnings available for reinvestment. If profitability does not recover, the company may face pressure to cut investment in engineering, jeopardizing long-term product pipeline and customer qualifications.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
Positive, improving free cash flow (TTM ~32.4m) provides a durable financial buffer despite accounting losses. Sustained cash generation funds R&D, supports customer qualification cycles, services debt and allows selective reinvestment without relying on equity raises.
Read all positive factors
XP Power (XPP) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£491.32M
Dividend YieldN/A
Average Volume (3M)63.10K
Price to Earnings (P/E)―
Beta (1Y)1.07
Revenue Growth-6.96%
EPS Growth-1.58%
CountryUK
Employees2,175
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.42
Shares Outstanding28,032,179
10 Day Avg. Volume91,192
30 Day Avg. Volume63,098
Financial Highlights & Ratios
PEG Ratio-4.29
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
£1,995.00Price Target Upside37.59% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.48
Revenue Forecast (FY)£242.83M
XP Power Business Overview & Revenue Model
Company Description
XP Power Limited, an investment holding company, designs, manufactures, and sells power supply solutions in Europe, North America, and Asia. It offers AC-DC power supplies, DC-DC converters, high voltage AC-DC power supplies, RF power systems, and...
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
Negative
1450.00
Price Trends
1869.52
Negative
1644.14
Positive
1336.33
Positive
Market Momentum
-26.41
Positive
41.23
Neutral
27.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:XPP, the sentiment is Negative. The current price of 1450 is below the 20-day moving average (MA) of 1855.20, below the 50-day MA of 1869.52, and above the 200-day MA of 1336.33, indicating a neutral trend. The MACD of -26.41 indicates Positive momentum. The RSI at 41.23 is Neutral, neither overbought nor oversold. The STOCH value of 27.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
81 Outperform | £402.26M | 19.71 | 20.71% | 3.92% | 11.92% | 41.55% | |
68 Neutral | £938.49M | 19.45 | 14.90% | 1.11% | 8.85% | 29.67% | |
64 Neutral | £286.88M | 11.71 | 13.58% | 2.58% | -2.13% | 3.94% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | £163.16M | -13.01 | -33.79% | ― | -13.43% | ― | |
54 Neutral | £491.32M | -41.23 | -6.50% | ― | -6.96% | -1.58% |
* Industrials Sector Average
GB:XPP
XP Power
1,740.00
886.00
103.75%
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GB:TFW
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256.00
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GB:VLX
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XP Power Corporate Events
Business Operations and StrategyExecutive/Board Changes
XP Power Grants Additional Long-Term Share Awards to Top Executives
Positive
May 1, 2026
XP Power has granted nominal-priced share options to chief executive Gavin Griggs and chief financial officer Matt Webb under its Restricted Share Plan 2020 and Long Term Incentive Plan 2017. The awards, calculated using a five-day average share p...
Executive/Board ChangesStock BuybackShareholder Meetings
XP Power Wins AGM Backing but Faces Pushback on Pay and Governance
Neutral
Apr 23, 2026
Shareholders of XP Power approved all resolutions at the company’s annual general meeting in Singapore on 23 April 2026, with 84.79% of issued share capital voting. The meeting confirmed the receipt of the 2025 accounts, reappointment of PwC...
Business Operations and StrategyFinancial Disclosures
XP Power Orders Surge as Semiconductor Demand Lifts 2026 Outlook
Positive
Apr 23, 2026
XP Power reported a sharp rebound in demand in the first quarter of 2026, with order intake rising 48% year-on-year in constant currency to £79.1 million and book-to-bill improving to 1.53, driven by strong semiconductor demand and continued ...
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.