ITM Power Plc

AIM:ITM Stock Report

Market Cap: UK£220.4m

ITM Power Valuation

Is ITM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ITM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate ITM's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate ITM's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ITM?

Key metric: As ITM is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for ITM. This is calculated by dividing ITM's market cap by their current revenue.
What is ITM's PS Ratio?
PS Ratio13.4x
SalesUK£16.51m
Market CapUK£220.40m

Price to Sales Ratio vs Peers

How does ITM's PS Ratio compare to its peers?

The above table shows the PS ratio for ITM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.7x
IES Invinity Energy Systems
8x69.9%UK£71.6m
SAE SIMEC Atlantis Energy
0.9x-1.7%UK£13.4m
XPP XP Power
1.1x3.2%UK£308.7m
LUCE Luceco
0.9x8.2%UK£198.0m
ITM ITM Power
13.4x37.3%UK£220.4m

Price-To-Sales vs Peers: ITM is expensive based on its Price-To-Sales Ratio (13.4x) compared to the peer average (2.7x).

Price to Sales Ratio vs Industry

How does ITM's PS Ratio compare vs other companies in the GB Electrical Industry?

11 CompaniesPrice / SalesEstimated GrowthMarket Cap
VLX Volex
0.6x6.6%US$639.81m
XPP XP Power
1.1x3.2%US$387.12m
LUCE Luceco
0.9x8.2%US$248.32m
DWHT Dewhurst Group
1.2xn/aUS$75.55m
ITM 13.4xIndustry Avg. 1.1xNo. of Companies11PS0612182430+
11 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ITM is expensive based on its Price-To-Sales Ratio (13.4x) compared to the European Electrical industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is ITM's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ITM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio13.4x
Fair PS Ratio0.03x

Price-To-Sales vs Fair Ratio: ITM is expensive based on its Price-To-Sales Ratio (13.4x) compared to the estimated Fair Price-To-Sales Ratio (0x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ITM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£0.36
UK£0.69
+92.3%
44.8%UK£1.70UK£0.24n/a17
Dec ’25UK£0.34
UK£0.77
+126.7%
42.7%UK£1.70UK£0.40n/a15
Nov ’25UK£0.43
UK£0.79
+82.4%
40.9%UK£1.70UK£0.40n/a15
Oct ’25UK£0.49
UK£0.79
+62.0%
39.7%UK£1.70UK£0.45n/a15
Sep ’25UK£0.50
UK£0.83
+66.4%
37.5%UK£1.70UK£0.45n/a15
Aug ’25UK£0.52
UK£0.93
+78.1%
47.5%UK£2.00UK£0.46n/a15
Jul ’25UK£0.47
UK£0.93
+97.3%
48.1%UK£2.00UK£0.46n/a16
Jun ’25UK£0.63
UK£0.98
+56.3%
44.6%UK£2.00UK£0.46n/a16
May ’25UK£0.49
UK£0.98
+98.1%
44.6%UK£2.00UK£0.46n/a18
Apr ’25UK£0.54
UK£0.96
+78.6%
45.2%UK£2.00UK£0.46n/a19
Mar ’25UK£0.55
UK£0.96
+73.2%
44.2%UK£2.00UK£0.46n/a20
Feb ’25UK£0.58
UK£1.00
+71.6%
43.9%UK£2.00UK£0.46n/a18
Jan ’25UK£0.59
UK£1.09
+83.2%
52.3%UK£2.50UK£0.50UK£0.3618
Dec ’24UK£0.52
UK£1.15
+122.5%
47.0%UK£2.50UK£0.55UK£0.3418
Nov ’24UK£0.65
UK£1.25
+93.0%
54.1%UK£3.10UK£0.55UK£0.4319
Oct ’24UK£0.75
UK£1.63
+115.7%
76.4%UK£6.00UK£0.60UK£0.4918
Sep ’24UK£0.83
UK£1.55
+85.8%
77.5%UK£6.00UK£0.60UK£0.5020
Aug ’24UK£0.91
UK£1.57
+72.1%
77.1%UK£6.00UK£0.61UK£0.5220
Jul ’24UK£0.72
UK£1.59
+119.5%
76.2%UK£6.00UK£0.61UK£0.4720
Jun ’24UK£0.69
UK£1.60
+132.7%
75.5%UK£6.00UK£0.61UK£0.6320
May ’24UK£0.78
UK£1.76
+124.6%
70.9%UK£6.00UK£0.61UK£0.4921
Apr ’24UK£0.85
UK£1.79
+111.0%
68.5%UK£6.00UK£0.70UK£0.5421
Mar ’24UK£1.00
UK£1.81
+81.5%
67.8%UK£6.00UK£0.70UK£0.5521
Feb ’24UK£1.03
UK£1.82
+76.4%
68.4%UK£6.00UK£0.70UK£0.5820
Jan ’24UK£0.92
UK£2.20
+140.1%
76.6%UK£6.41UK£0.70UK£0.5921

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/31 04:22
End of Day Share Price 2024/12/31 00:00
Earnings2024/04/30
Annual Earnings2024/04/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

ITM Power Plc is covered by 37 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tom McColmAllenby Capital Limited
Kulwinder RajpalAlphaValue
Daniel SlaterArden Partners Plc.