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Ashtead Technology Holdings PLC
(LSE:AT)
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Rating:78Outperform
Price Target:
693.00 p
▲(100.29% Upside)
Action:Upgraded
Date:10/22/26
The score is driven mainly by strong financial performance (growth and profitability) and supportive technical momentum with the stock trading well above major moving averages. Valuation appears reasonable on earnings, but the overall rating is held back by margin volatility and uneven free-cash-flow conversion, which increase execution and cash-generation risk.
Positive Factors
Revenue and profitability growth
The substantial multi-year revenue increase shows that Ashtead Technology has scaled its subsea equipment and services platform, while the move from historical losses to consistent profitability demonstrates improved operating execution. Strong recent margins provide resources to support continued investment and expansion.
Negative Factors
Gross-margin volatility
A sharp decline in gross margin creates uncertainty around the durability of recent earnings quality. If mix, pricing, or cost pressure persists, operating profit could become more variable even while revenue continues to grow, making long-term planning and returns from the equipment platform less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profitability growth
The substantial multi-year revenue increase shows that Ashtead Technology has scaled its subsea equipment and services platform, while the move from historical losses to consistent profitability demonstrates improved operating execution. Strong recent margins provide resources to support continued investment and expansion.
Read all positive factors
Ashtead Technology Holdings PLC (AT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£491.53M
Dividend Yield0.21%
Average Volume (3M)1.74M
Price to Earnings (P/E)15.2
Beta (1Y)0.57
Revenue Growth9.38%
EPS Growth8.07%
CountryUK
Employees650
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.40
Shares Outstanding80,976,395
10 Day Avg. Volume3,249,821
30 Day Avg. Volume1,742,505
Financial Highlights & Ratios
PEG Ratio0.70
Price to Book (P/B)1.59
Price to Sales (P/S)1.23
P/FCF Ratio12.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£400.00Price Target Upside15.61% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.37
Revenue Forecast (FY)£202.82M
Ashtead Technology Holdings PLC Business Overview & Revenue Model
Company Description
Ashtead Technology Holdings Plc specializes in providing rental solutions for subsea equipment to the global offshore energy sector, with its reach extending across Europe, the Americas, Asia-Pacific, and the Middle East. Its offerings comprise a ...
How the Company Makes Money
Ashtead Technology primarily generates revenue by providing specialist subsea and offshore equipment to customers operating in offshore energy markets. Its core revenue streams include (1) equipment rental/hire, where customers pay for temporary u...
Ashtead Technology Holdings PLC Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
72
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 204.25M | 203.19M | 168.04M | 110.47M | 73.12M | 55.80M |
| Gross Profit | 65.95M | 67.74M | 129.42M | 86.30M | 54.29M | 40.54M |
| EBITDA | 82.59M | 81.10M | 65.51M | 44.15M | 27.05M | 17.52M |
| Net Income | 31.78M | 32.21M | 28.78M | 21.58M | 12.37M | 2.53M |
Balance Sheet | ||||||
| Total Assets | 342.93M | 323.27M | 313.60M | 213.69M | 136.82M | 99.03M |
| Cash, Cash Equivalents and Short-Term Investments | 8.86M | 14.07M | 12.17M | 10.82M | 9.04M | 4.86M |
| Total Debt | 125.58M | 122.98M | 140.52M | 72.51M | 37.72M | 27.56M |
| Total Liabilities | 172.58M | 166.19M | 186.28M | 116.11M | 61.02M | 37.90M |
| Stockholders Equity | 170.35M | 157.09M | 127.33M | 97.59M | 74.94M | 61.13M |
Cash Flow | ||||||
| Free Cash Flow | 14.52M | 20.59M | 729.00K | 19.59M | 18.40M | -653.00K |
| Operating Cash Flow | 57.09M | 57.78M | 30.12M | 39.05M | 32.85M | 7.24M |
| Investing Cash Flow | -38.63M | -31.94M | -93.30M | -68.93M | -36.91M | -6.44M |
| Financing Cash Flow | -22.32M | -23.05M | 65.32M | 32.19M | 7.98M | -7.13M |
Ashtead Technology Holdings PLC Technical Analysis
Positive
346.00
Price Trends
441.18
Positive
435.58
Positive
435.26
Positive
Market Momentum
39.24
Negative
75.13
Negative
94.50
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:AT, the sentiment is Positive. The current price of 346 is below the 20-day moving average (MA) of 542.80, below the 50-day MA of 441.18, and below the 200-day MA of 435.26, indicating a bullish trend. The MACD of 39.24 indicates Negative momentum. The RSI at 75.13 is Negative, neither overbought nor oversold. The STOCH value of 94.50 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:AT.
Ashtead Technology Holdings PLC Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £491.53M | 15.18 | 19.41% | 0.21% | 9.38% | 8.07% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | £599.04M | 19.05 | 5.11% | 2.49% | -12.20% | ― | |
64 Neutral | £209.92M | 486.31 | 0.14% | 2.17% | 0.13% | -99.20% | |
49 Neutral | £13.92M | 18.27 | 7.41% | 5.06% | ― | ― | |
49 Neutral | £6.50M | -212.50 | -0.65% | 6.38% | 15.94% | 98.21% |
* Energy Sector Average
GB:AT
Ashtead Technology Holdings PLC
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80.35%
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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.