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Dillistone
(LSE:DSG)
Select Model
Select Model
Rating:58Neutral
Price Target:
17.00 p
▲(41.67% Upside)
Action:Reiterated
Date:10/06/26
The score is driven primarily by mixed financial performance: strong and improving cash generation and manageable leverage are positives, but multi-year revenue decline and a return to net losses weigh heavily. Technicals add support with a strong uptrend, though momentum indicators look overbought. Valuation is a notable drag because earnings are negative (negative P/E) and no dividend yield is available.
Positive Factors
Recurring recruitment software model
A recurring software model can create durable revenue visibility because renewals and ongoing customer usage support the installed base. Implementation, training, maintenance, and support services also provide additional monetisation opportunities as recruitment customers deploy and maintain the platform.
Negative Factors
Multi-year revenue contraction
A sustained decline in revenue indicates that the company has not yet demonstrated durable expansion of its customer base, usage, or pricing. Continued contraction can reduce operating leverage, constrain investment capacity, and make it harder for the recurring software model to translate into stronger earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring recruitment software model
A recurring software model can create durable revenue visibility because renewals and ongoing customer usage support the installed base. Implementation, training, maintenance, and support services also provide additional monetisation opportunities as recruitment customers deploy and maintain the platform.
Read all positive factors
Dillistone (DSG) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£5.84M
Dividend Yield0.61%
Average Volume (3M)49.52K
Price to Earnings (P/E)―
Beta (1Y)0.58
Revenue Growth-14.79%
EPS Growth-1833.33%
CountryUK
Employees45
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.03
Shares Outstanding35,418,022
10 Day Avg. Volume62,123
30 Day Avg. Volume49,515
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.58
Price to Sales (P/S)0.41
P/FCF Ratio1.88
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)<0.01
Revenue Forecast (FY)£4.52M
Dillistone Business Overview & Revenue Model
Company Description
Dillistone Group Plc, established in 1983 and based in Basingstoke, United Kingdom, furnishes a comprehensive array of technology solutions and services to clients across the globe, including the UK, Europe, the Americas, and Australia. The compan...
How the Company Makes Money
DSG makes money primarily by selling access to its recruitment software products on a recurring basis, typically structured as software subscriptions/ongoing licences with associated support and maintenance. A secondary revenue stream comes from p...
Dillistone Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
63
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.88M | 4.20M | 4.90M | 5.59M | 5.70M | 5.60M |
| Gross Profit | 2.39M | 2.68M | 3.27M | 4.99M | 3.62M | 3.58M |
| EBITDA | 727.00K | 1.12M | 1.30M | 1.28M | 949.00K | 1.16M |
| Net Income | -660.00K | -298.00K | 40.00K | 3.00K | -183.00K | 4.00K |
Balance Sheet | ||||||
| Total Assets | 6.50M | 6.12M | 6.68M | 6.83M | 8.04M | 8.58M |
| Cash, Cash Equivalents and Short-Term Investments | 436.00K | 0.00 | 0.00 | 0.00 | 433.00K | 764.00K |
| Total Debt | 1.00M | 1.37M | 1.43M | 1.18M | 2.01M | 2.40M |
| Total Liabilities | 2.49M | 3.10M | 3.37M | 3.61M | 4.82M | 5.20M |
| Stockholders Equity | 4.01M | 3.01M | 3.31M | 3.22M | 3.22M | 3.38M |
Cash Flow | ||||||
| Free Cash Flow | 294.00K | 922.00K | 799.00K | 91.00K | 33.00K | 44.00K |
| Operating Cash Flow | 296.00K | 927.00K | 807.00K | 1.06M | 1.05M | 1.05M |
| Investing Cash Flow | -839.00K | -863.00K | -888.00K | -972.00K | -1.02M | -1.01M |
| Financing Cash Flow | 1.06M | -200.00K | -108.00K | -532.00K | -395.00K | -664.00K |
Dillistone Technical Analysis
Positive
12.00
Price Trends
13.04
Positive
11.88
Positive
11.52
Positive
Market Momentum
0.93
Negative
69.71
Neutral
66.31
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:DSG, the sentiment is Positive. The current price of 12 is below the 20-day moving average (MA) of 14.72, below the 50-day MA of 13.04, and above the 200-day MA of 11.52, indicating a bullish trend. The MACD of 0.93 indicates Negative momentum. The RSI at 69.71 is Neutral, neither overbought nor oversold. The STOCH value of 66.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:DSG.
Dillistone Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | £216.19M | 24.70 | 15.05% | 3.35% | 6.41% | 10.61% | |
68 Neutral | £214.10M | 134.95 | 3.23% | 0.75% | 20.24% | -62.04% | |
68 Neutral | £37.68M | 22.58 | 22.52% | 1.55% | 11.94% | 53.28% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | £5.84M | -6.35 | -18.80% | 0.61% | -14.79% | -1833.33% | |
54 Neutral | £326.56M | -4.49 | -14.39% | 3.04% | 0.82% | -997.08% | |
50 Neutral | £95.95M | 21.79 | 11.11% | 3.20% | -0.74% | ― |
* Technology Sector Average
GB:DSG
Dillistone
16.50
7.00
73.68%
GB:GBG
GB Group plc
144.60
-101.01
-41.13%
GB:NET
Netcall
125.50
6.52
5.48%
GB:TRB
Tribal Group plc
103.00
42.55
70.39%
GB:RM
RM
97.60
-2.40
-2.40%
GB:SKL
Skillcast Group Plc
42.00
-18.11
-30.13%
Dillistone Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Dillistone to Convert £794,750 of Debt into Equity Ahead of Strategic Shift
Positive
Oct 1, 2026
Dillistone Group has agreed a conditional conversion of all its outstanding loan notes and a 2025 loan, totalling £794,750, into 5,676,780 new ordinary shares at 14 pence per share, subject to shareholder approval at a general meeting later i...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and FinancingShareholder Meetings
Dillistone pivots to serial acquirer model as legacy products exit hits H1
Neutral
Sep 30, 2026
Dillistone Group reported interim results showing a 15% decline in first-half revenue to £1.854m and an adjusted operating loss of £0.272m, largely driven by the withdrawal or planned discontinuation of legacy products VDQ and FileFinder...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and FinancingShareholder Meetings
Dillistone installs new CEO as it pivots to serial acquisitions and plans debt-to-equity swap
Positive
Sep 25, 2026
Dillistone Group Plc has reshaped its leadership team as it pivots towards a serial acquisition strategy, appointing MA-focused executive Gareth Hawkins as CEO from 28 September while long-serving chief Jason Starr becomes a non-executive director...
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.