Stock Analysis Report

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Executive Summary

Solid State plc manufactures and sells electronic equipment in the United Kingdom, rest of Europe, Asia, North America, and internationally. More Details

Snowflake Analysis

Flawless balance sheet with solid track record and pays a dividend.

Share Price & News

How has Solid State's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: SOLI has not had significant price volatility in the past 3 months.

Market Performance

7 Day Return




GB Electronic


GB Market

1 Year Return




GB Electronic


GB Market

Return vs Industry: SOLI matched the UK Electronic industry which returned 18.8% over the past year.

Return vs Market: SOLI exceeded the UK Market which returned -15.4% over the past year.

Shareholder returns

7 Day0.3%4.6%0.1%
30 Day-7.1%5.8%-2.2%
90 Day8.8%8.0%-4.2%
1 Year21.3%19.0%24.1%23.0%-9.8%-13.1%
3 Year31.0%20.2%43.2%37.5%-8.6%-19.5%
5 Year-11.9%-23.4%142.6%125.3%15.9%-9.7%

Price Volatility Vs. Market

How volatile is Solid State's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is Solid State undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: SOLI (£5.92) is trading below our estimate of fair value (£24.38)

Significantly Below Fair Value: SOLI is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: SOLI is good value based on its PE Ratio (14.8x) compared to the GB Electronic industry average (23.3x).

PE vs Market: SOLI is good value based on its PE Ratio (14.8x) compared to the UK market (17.6x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate SOLI's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: SOLI's PB Ratio (2.2x) is in line with the GB Electronic industry average.

Next Steps

Future Growth

How is Solid State forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?


Forecasted Tech industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Solid State has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Next Steps

Past Performance

How has Solid State performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SOLI has high quality earnings.

Growing Profit Margin: SOLI's current net profit margins (5.1%) are higher than last year (4.7%).

Past Earnings Growth Analysis

Earnings Trend: SOLI's earnings have grown by 2.6% per year over the past 5 years.

Accelerating Growth: SOLI's earnings growth over the past year (28.2%) exceeds its 5-year average (2.6% per year).

Earnings vs Industry: SOLI earnings growth over the past year (28.2%) exceeded the Electronic industry -2.1%.

Return on Equity

High ROE: SOLI's Return on Equity (15.2%) is considered low.

Next Steps

Financial Health

How is Solid State's financial position?

Financial Position Analysis

Short Term Liabilities: SOLI's short term assets (£27.1M) exceed its short term liabilities (£14.7M).

Long Term Liabilities: SOLI's short term assets (£27.1M) exceed its long term liabilities (£1.5M).

Debt to Equity History and Analysis

Debt Level: SOLI's debt to equity ratio (1.5%) is considered satisfactory.

Reducing Debt: SOLI's debt to equity ratio has reduced from 33.9% to 1.5% over the past 5 years.

Debt Coverage: SOLI's debt is well covered by operating cash flow (2299.4%).

Interest Coverage: SOLI's interest payments on its debt are well covered by EBIT (33x coverage).

Balance Sheet

Next Steps


What is Solid State current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SOLI's dividend (2.11%) is higher than the bottom 25% of dividend payers in the UK market (1.83%).

High Dividend: SOLI's dividend (2.11%) is low compared to the top 25% of dividend payers in the UK market (5.28%).

Stability and Growth of Payments

Stable Dividend: SOLI's dividends per share have been stable in the past 10 years.

Growing Dividend: SOLI's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.2%), SOLI's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average board tenure


Gary Marsh (54 yo)





Mr. Gary Stephen Marsh has been the Chief Executive Officer of Solid State plc since March 2011 and also serves as its Executive Director. Mr. Marsh served as Managing Director at Solid State plc. Mr. Mars ...

CEO Compensation Analysis

Compensation vs Market: Gary's total compensation ($USD552.18K) is above average for companies of similar size in the UK market ($USD349.26K).

Compensation vs Earnings: Gary's compensation has increased by more than 20% in the past year.

Board Members

Peter Haining
Interim Non-Executive Chairman & Company Secretary0.50yrUK£25.00k0.64%
£ 322.7k
Gary Marsh
CEO & Executive Director9.5yrsUK£427.00k3.28%
£ 1.7m
Peter James
Group Finance Director & Executive Director3.5yrsUK£332.00k0.037%
£ 19.0k
John Macmichael
Executive Director10.42yrsUK£376.00k1.43%
£ 724.4k
Matthew Richards
Executive Director4.42yrsUK£367.00k0.12%
£ 61.4k
Nigel Rogers
Independent Non-Executive Director1.17yrsUK£23.00k0.051%
£ 26.0k


Average Tenure


Average Age

Experienced Board: SOLI's board of directors are considered experienced (3.5 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Solid State plc's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Solid State plc
  • Ticker: SOLI
  • Exchange: AIM
  • Founded: 1963
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: UK£50.660m
  • Shares outstanding: 8.56m
  • Website:

Number of Employees


  • Solid State plc
  • 2 Ravensbank Business Park
  • Hedera Road
  • Redditch
  • Worcestershire
  • B98 9EY
  • United Kingdom


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SOLIAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPJun 1996


Solid State plc manufactures and sells electronic equipment in the United Kingdom, rest of Europe, Asia, North America, and internationally. Its value added distribution division distributes semiconductors ...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/30 21:50
End of Day Share Price2020/09/30 00:00
Annual Earnings2020/03/31

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.