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Concurrent Technologies
(LSE:CNC)
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Rating:72Outperform
Price Target:
289.00 p
▲(14.46% Upside)
Action:Upgraded
Date:09/12/26
Overall score reflects strong financial performance (high profitability and very low leverage) and a very positive earnings outlook with growing backlog and improving systems profitability. These strengths are tempered by a high valuation (elevated P/E with low yield) and only moderate technical momentum, alongside historical cash-flow volatility and execution risks cited on the call.
Positive Factors
Revenue and Profit Growth
Revenue has risen sharply from £31.7m in 2023 to £45.9m in 2025 while profitability remains healthy. This combination indicates meaningful operating scale and provides a stronger base for funding product development, capacity expansion, and future earnings growth.
Negative Factors
Investment Pressures on Cash
Significant capital expenditure and capitalized R&D are consuming cash even as the company expands capacity and develops products. If investment remains elevated, cash conversion may stay below accounting profit and reduce flexibility until the added capacity generates sufficient returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profit Growth
Revenue has risen sharply from £31.7m in 2023 to £45.9m in 2025 while profitability remains healthy. This combination indicates meaningful operating scale and provides a stronger base for funding product development, capacity expansion, and future earnings growth.
Read all positive factors
Concurrent Technologies (CNC) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£249.82M
Dividend Yield0.42%
Average Volume (3M)206.31K
Price to Earnings (P/E)45.8
Beta (1Y)1.19
Revenue Growth7.62%
EPS Growth7.71%
CountryUK
Employees183
SectorTechnology
Sector Strength88
IndustryComputer Hardware
Share Statistics
EPS (TTM)0.06
Shares Outstanding90,842,100
10 Day Avg. Volume193,655
30 Day Avg. Volume206,307
Financial Highlights & Ratios
PEG Ratio5.61
Price to Book (P/B)4.27
Price to Sales (P/S)4.17
P/FCF Ratio32.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£320.00Price Target Upside26.73% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.07
Revenue Forecast (FY)£56.67M
Concurrent Technologies Business Overview & Revenue Model
Company Description
Concurrent Technologies Plc, operating through its various subsidiaries, is dedicated to the creation, production, and commercialization of single board computers specifically tailored for system integrators and original equipment manufacturers (O...
How the Company Makes Money
Concurrent Technologies makes money primarily by selling rugged embedded computing hardware and related engineered solutions to customers building mission-critical systems (with defense and government-related end markets being a major focus). Key ...
Concurrent Technologies Earnings Call Summary
Earnings Call Date:Sep 07, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Apr 19, 2027
Earnings Call Sentiment Positive
The call was strongly positive. Management reported record first-half revenue, profit and order intake, systems-business profitability, expanding margins in systems, improved operating cash flow, major capacity expansion, a growing backlog and confidence in exceeding expectations for the current year and 2027 and 2028. These positives outweighed challenges including delayed U.S. orders, supply-chain constraints, tariff-related ecosystem headwinds, lumpy systems-business performance, recruitment difficulties and the absence of an interim dividend.Positive Updates
Record First-Half Financial Performance
The company described the first half of 2026 as its best ever on pretty much every metric, with revenue of GBP 23.2 million and profit of GBP 3.2 million.
Negative Updates
Back-End-Loaded Order Intake Constrained Revenue
Most of the first-half order intake occurred in the second quarter, with a significant amount arriving in June. Management said this back-end-loaded profile constrained revenue generation and that revenue would have been stronger if orders had been received earlier in the half.
Read all updates
Q2-2026 Updates
Positive
Negative
Record First-Half Financial Performance
The company described the first half of 2026 as its best ever on pretty much every metric, with revenue of GBP 23.2 million and profit of GBP 3.2 million.
Read all positive updates
Company Guidance
Management reported GBP 68 million of order intake year to date, with roughly GBP 35 million of backlog for 2027 and beyond, the bulk in 2027, and said the opening backlog for 2027 could well be GBP 40 or GBP 50 million, roughly 10 times what it was this time five years ago. The board is extremely comfortable in exceeding this year's expectations and indeed, the expectations for 2028 and for 2027, while systems has transitioned into profitability and will grow and in time, years, but in time will be larger than the products business. Board capacity is now running at about GBP 80 million per annum of output, capitalized R&D will probably run rate at GBP 6 million this year and probably beyond this year, and the group’s stated profit-margin goal is mid to high teens versus 13.8% for the half year.Concurrent Technologies Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Jun 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 47.97M | 45.87M | 40.32M | 31.66M | 18.27M | 20.45M |
| Gross Profit | 21.90M | 21.22M | 17.37M | 15.64M | 7.26M | 10.03M |
| EBITDA | 10.71M | 10.50M | 7.88M | 5.87M | 2.11M | 4.94M |
| Net Income | 5.21M | 5.06M | 4.70M | 3.87M | 987.02K | 2.82M |
Balance Sheet | ||||||
| Total Assets | 72.44M | 59.81M | 50.78M | 47.83M | 32.65M | 29.78M |
| Cash, Cash Equivalents and Short-Term Investments | 9.68M | 14.37M | 13.71M | 11.12M | 4.51M | 11.84M |
| Total Debt | 3.16M | 2.17M | 756.66K | 989.93K | 1.46M | 910.21K |
| Total Liabilities | 24.33M | 15.04M | 11.86M | 12.79M | 9.47M | 7.10M |
| Stockholders Equity | 48.11M | 44.77M | 38.93M | 35.04M | 23.18M | 22.68M |
Cash Flow | ||||||
| Free Cash Flow | 6.85M | 5.97M | 7.00M | 1.16M | -6.19M | 2.11M |
| Operating Cash Flow | 11.05M | 7.09M | 7.88M | 5.63M | -994.30K | 4.25M |
| Investing Cash Flow | -9.15M | -5.45M | -4.26M | -5.09M | -5.19M | -2.13M |
| Financing Cash Flow | 114.40K | -796.67K | -1.03M | 6.05M | -1.12M | -2.01M |
Concurrent Technologies Technical Analysis
Positive
252.50
Price Trends
258.38
Positive
259.16
Positive
248.54
Positive
Market Momentum
3.98
Negative
61.07
Neutral
79.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CNC, the sentiment is Positive. The current price of 252.5 is below the 20-day moving average (MA) of 266.95, below the 50-day MA of 258.38, and above the 200-day MA of 248.54, indicating a bullish trend. The MACD of 3.98 indicates Negative momentum. The RSI at 61.07 is Neutral, neither overbought nor oversold. The STOCH value of 79.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:CNC.
Concurrent Technologies Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | £249.82M | 45.76 | 11.21% | 0.42% | 7.62% | 7.71% | |
69 Neutral | £187.01M | 80.59 | 10.42% | ― | ― | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | £339.43M | -9.50 | -24.38% | 3.68% | -2.68% | 47.33% | |
56 Neutral | £50.10M | 300.00 | -0.11% | 3.67% | -10.70% | -200.00% | |
54 Neutral | £497.89M | 107.25 | 11.47% | 2.68% | -1.40% | -67.76% |
* Technology Sector Average
GB:CNC
Concurrent Technologies
280.00
50.01
21.75%
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193.00
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103.59%
Concurrent Technologies Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Concurrent Technologies posts record first-half results and boosts outlook
Positive
Sep 7, 2026
Concurrent Technologies reported record first-half results for the six months to 30 June 2026, with revenue up 10% to £23.2m and profit before tax rising 19% to £3.2m, driven by growth across both Products and Systems. Order intake more ...
Business Operations and StrategyFinancial Disclosures
Concurrent Technologies sets date for interim results and investor briefings
Neutral
Jul 28, 2026
Concurrent Technologies will publish interim results for the six months to 30 June 2025 on 7 September 2026, as the embedded computing specialist steps up its engagement with analysts and retail shareholders. The company’s leadership will br...
Business Operations and StrategyExecutive/Board Changes
Concurrent Technologies Names Emma Ciechan as New CFO to Support Next Growth Phase
Positive
Jul 20, 2026
Concurrent Technologies has appointed Emma Ciechan as Chief Financial Officer and Executive Director, effective 5 October 2026, as part of its leadership succession plan. Ciechan, who brings over two decades of strategic finance experience from DS...
Regulatory Filings and Compliance
Concurrent Technologies Updates Market on Reduction in Lord Lee’s Shareholding
Neutral
Jul 13, 2026
Concurrent Technologies has disclosed a change in a major shareholder’s position following a reorganisation of investment management responsibilities. Lord John Lee of Trafford, who previously exercised discretionary management over a fund h...
Business Operations and StrategyFinancial Disclosures
Concurrent Technologies Posts Record H1 and Doubles Order Intake
Positive
Jul 13, 2026
Concurrent Technologies reported record first-half results for the six months to 30 June 2026, with revenue rising to about £23.1m and profit before tax increasing to roughly £3.3m. Order intake more than doubled to £46.9m, underpin...
Business Operations and StrategyFinancial Disclosures
Concurrent Technologies lands $9.4m U.S. defence production order
Positive
Jul 2, 2026
Concurrent Technologies has secured a $9.4m production order from a major U.S. defence prime contractor, marking the transition of a 2024 design win into the production phase. The deal covers supply of around 400 TR-LBE 3U VPX computing plug-in ca...
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.