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EKF Diagnostics Holdings
(LSE:EKF)
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Rating:64Neutral
Price Target:
27.00 p
▲(9.31% Upside)
Action:Reiterated
Date:09/22/26
The score is primarily supported by a resilient financial profile (low leverage and solid cash generation) and a constructive, confidence-leaning earnings call. These positives are offset by weak multi-year revenue/profitability versus prior peaks, a relatively expensive P/E with no dividend support provided, and mostly neutral technicals with the price sitting below key moving averages.
Positive Factors
Conservative balance sheet
Very low leverage and a substantial equity base reduce financial risk and give EKF flexibility to fund product development, capacity expansion, and commercial investment. This resilience should help the company sustain operations and pursue growth through uneven demand conditions.
Negative Factors
Revenue and profit below prior peaks
The modest 2025 revenue recovery has not restored EKF's former scale or earnings power. Net income remains far below the 2021 peak, indicating that profitability and operating leverage are still materially weaker than historical highs and may take time to rebuild.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and a substantial equity base reduce financial risk and give EKF flexibility to fund product development, capacity expansion, and commercial investment. This resilience should help the company sustain operations and pursue growth through uneven demand conditions.
Read all positive factors
EKF Diagnostics Holdings (EKF) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£103.14M
Dividend Yield4.36%
Average Volume (3M)569.58K
Price to Earnings (P/E)41.4
Beta (1Y)0.19
Revenue Growth2.26%
EPS Growth-57.04%
CountryUK
Employees308
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)<0.01
Shares Outstanding427,968,380
10 Day Avg. Volume388,767
30 Day Avg. Volume569,576
Financial Highlights & Ratios
PEG Ratio-0.85
Price to Book (P/B)1.71
Price to Sales (P/S)2.30
P/FCF Ratio14.47
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)0.02
Revenue Forecast (FY)£54.60M
EKF Diagnostics Holdings Business Overview & Revenue Model
Company Description
EKF Diagnostics Holdings plc, a company founded in 1990 and based in Cardiff, United Kingdom, operates as an international supplier of diagnostic solutions. The firm excels in the development, manufacturing, and distribution of a wide array of dia...
How the Company Makes Money
EKF primarily makes money through the sale of diagnostic products, combining (1) instrument/equipment revenue and (2) recurring consumables revenue. Instrument revenue comes from selling diagnostic analyzers (point-of-care and/or laboratory instru...
EKF Diagnostics Holdings Earnings Call Summary
Earnings Call Date:Sep 15, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 30, 2027
Earnings Call Sentiment Positive
The call was predominantly positive. Management reported improved gross margin, EBITDA and EPS, strong Life Sciences, BHB, contract manufacturing and fermentation growth, progress in the U.S. blood bank market, strategic investments, a strong balance sheet, and confidence in H2 recovery and FY2026 expectations. The main negatives were flat overall revenue, a 3% H1 Point-of-Care decline caused by delivery timing, lower free cash flow, higher administrative expenses, an exceptional lease charge, and an elevated H1 tax rate; management described these issues as timing-related, planned, or expected to improve.Positive Updates
Improved Profitability Despite Broadly Flat Revenue
H1 2026 group revenue was broadly flat at GBP 25 million, while gross margin strengthened by 3 percentage points to 53%, adjusted EBITDA increased 2.4% to GBP 5.9 million, and basic EPS rose nearly 26% to 0.54 pence from 0.43 pence.
Negative Updates
Flat Group Revenue
H1 group revenue was GBP 25 million, down 1% from GBP 25.2 million in the prior-year period, with the shortfall primarily attributed to timing on the Point-of-Care side.
Read all updates
Q2-2026 Updates
Positive
Negative
Improved Profitability Despite Broadly Flat Revenue
H1 2026 group revenue was broadly flat at GBP 25 million, while gross margin strengthened by 3 percentage points to 53%, adjusted EBITDA increased 2.4% to GBP 5.9 million, and basic EPS rose nearly 26% to 0.54 pence from 0.43 pence.
Read all positive updates
Company Guidance
The company expects Point-of-Care to “bounce back into growth” in H2 and expects “double-digit growth by year-end” for BHB, with full year 2026 expected to be “in line with expectations” and the “full-year underlying effective tax rate to be below the H1 level”; its 2029 target is to deliver “revenues above GBP 80 million and adjusted EBITDA above GBP 20 million,” supported by a “30% expansion” of the Hemo Control production line costing “around GBP 4 million over the next 18 months” and a new sensor production line of “around GBP 2 million over the next 18 months.”EKF Diagnostics Holdings Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
83
Very Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 51.35M | 51.56M | 50.19M | 52.61M | 66.64M | 81.84M |
| Gross Profit | 27.08M | 26.48M | 21.48M | 23.86M | 24.04M | 39.37M |
| EBITDA | 12.29M | 12.40M | 11.16M | 7.68M | -2.18M | 27.39M |
| Net Income | 2.50M | 2.12M | 6.24M | 2.35M | -10.10M | 15.85M |
Balance Sheet | ||||||
| Total Assets | 82.35M | 81.14M | 81.75M | 80.85M | 89.29M | 115.12M |
| Cash, Cash Equivalents and Short-Term Investments | 15.97M | 15.83M | 13.01M | 6.02M | 11.58M | 20.34M |
| Total Debt | 1.47M | 1.39M | 1.32M | 4.10M | 1.55M | 3.47M |
| Total Liabilities | 10.76M | 10.86M | 8.53M | 12.63M | 14.77M | 20.38M |
| Stockholders Equity | 70.37M | 69.05M | 72.33M | 67.12M | 73.35M | 94.12M |
Cash Flow | ||||||
| Free Cash Flow | 6.20M | 8.18M | 11.41M | -664.00K | 3.86M | 4.59M |
| Operating Cash Flow | 8.11M | 9.71M | 13.66M | 6.31M | 9.69M | 10.24M |
| Investing Cash Flow | -3.29M | -2.34M | -2.66M | -5.64M | -8.93M | -5.48M |
| Financing Cash Flow | -5.84M | -5.86M | -4.08M | -3.65M | -11.04M | -6.16M |
EKF Diagnostics Holdings Technical Analysis
Negative
24.70
Price Trends
25.27
Negative
25.73
Negative
25.62
Negative
Market Momentum
-0.29
Positive
38.94
Neutral
5.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:EKF, the sentiment is Negative. The current price of 24.7 is below the 20-day moving average (MA) of 25.11, below the 50-day MA of 25.27, and below the 200-day MA of 25.62, indicating a bearish trend. The MACD of -0.29 indicates Positive momentum. The RSI at 38.94 is Neutral, neither overbought nor oversold. The STOCH value of 5.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:EKF.
EKF Diagnostics Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | £88.04M | 12.15 | 65.83% | 8.70% | -8.21% | -5.27% | |
64 Neutral | £103.14M | 41.38 | 3.58% | 4.36% | 2.26% | -57.04% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | £27.80M | -12.80 | -55.91% | ― | 40.37% | -13.70% | |
49 Neutral | £18.87M | -1.08 | -1044.57% | ― | 65.60% | 74.84% | |
43 Neutral | £3.69M | -0.63 | -69.62% | ― | -16.27% | -471.21% | |
40 Underperform | £40.23M | -0.33 | -631.25% | ― | ― | ― |
* Healthcare Sector Average
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EKF Diagnostics Holdings Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
EKF Diagnostics posts resilient H1, lifts margins as Life Sciences grows
Positive
Sep 15, 2026
EKF Diagnostics reported interim results for the six months to 30 June 2026 showing broadly stable revenue at £25.0m, but an improved gross margin of 53.0% and a 2.4% rise in adjusted EBITDA to £5.9m, helped by a favourable product mix a...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics tightens share base with targeted buyback
Positive
Sep 3, 2026
EKF Diagnostics Holdings has launched a share buyback, purchasing 50,000 ordinary shares at a weighted average price of 24.948 pence, with the shares to be cancelled following the transaction. The move forms part of the company’s capital man...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics cancels 50,000 shares in latest buyback move
Positive
Sep 3, 2026
EKF Diagnostics Holdings plc, an AIM-quoted global diagnostics group based near Cardiff, develops point-of-care analysers for hematology and diabetes while also offering life sciences manufacturing services. The business operates five plants in th...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 40,000 Shares After Buyback
Positive
Sep 1, 2026
EKF Diagnostics Holdings has repurchased 40,000 ordinary shares at a weighted average price of 24.805p per share, with the shares to be cancelled as part of its ongoing capital management strategy. Following the cancellation, the company’s i...
Business Operations and StrategyFinancial Disclosures
EKF Diagnostics to unveil interim results and host online investor presentation
Positive
Sep 1, 2026
EKF Diagnostics Holdings will publish its unaudited interim results for the six months to 30 June 2026 on 15 September, providing investors with an update on trading and financial performance at the mid-point of the year. The announcement is expec...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 25,000 Shares in Modest Buyback
Positive
Aug 28, 2026
EKF Diagnostics Holdings has executed a share buyback of 25,000 ordinary shares at a weighted average price of 24.79 pence, with all repurchased shares to be cancelled. Following this transaction, the company’s issued share capital will comp...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 60,000 Shares in Targeted Buyback
Positive
Aug 27, 2026
EKF Diagnostics Holdings has executed a share buyback, acquiring 60,000 ordinary shares at a weighted average price of 25 pence per share and cancelling them, in a move that reduces its issued share capital and may be seen as a signal of managemen...
Business Operations and StrategyStock Buyback
EKF Diagnostics Cancels 80,000 Shares in Modest Buyback
Positive
Aug 26, 2026
EKF Diagnostics Holdings has bought back 80,000 ordinary shares at a weighted average price of 24.9p and will cancel them, reducing its share capital to 428,328,112 shares. The move slightly tightens the company’s equity base and adjusts the...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 40,000 Shares After Buyback
Positive
Aug 24, 2026
EKF Diagnostics Holdings has repurchased 40,000 of its own ordinary shares at a weighted average price of 24.7p per share, with the acquired stock to be cancelled. The move marginally reduces the company’s share count and is likely intended ...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 80,000 Shares Following Latest Buyback
Neutral
Aug 21, 2026
EKF Diagnostics Holdings has executed a share buyback, purchasing 80,000 ordinary shares at a volume-weighted average price of 24.85p and intends to cancel these shares. Following the cancellation, the company’s issued share capital will tot...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 50,000 Shares After Buyback
Positive
Aug 21, 2026
EKF Diagnostics Holdings has repurchased 50,000 of its ordinary shares at a price of 24.8p each and will cancel them, reducing its issued share capital to 428,528,112 shares with no treasury stock. The move marginally concentrates voting rights am...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 110,000 Shares in Latest Buyback
Positive
Aug 19, 2026
EKF Diagnostics Holdings has carried out a share buyback, purchasing 110,000 ordinary shares at a volume-weighted average price of 24.9636 pence, with the shares to be cancelled. Following the transaction, the company’s issued share capital ...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics cancels 200,000 shares after latest buyback
Positive
Aug 18, 2026
EKF Diagnostics Holdings has conducted a share buyback of 200,000 ordinary shares at a volume-weighted average price of 25.125 pence, with the repurchased stock scheduled for cancellation. Following this reduction, the company’s issued share...
Stock BuybackFinancial DisclosuresRegulatory Filings and Compliance
EKF Diagnostics Cancels 30,000 Shares in Targeted Buyback
Positive
Aug 17, 2026
EKF Diagnostics Holdings said it has repurchased 30,000 of its own ordinary shares at a weighted average price of 25.5p per share, with the shares to be cancelled following the transaction. The buyback, executed on 14 August on AIM, reflects ongoi...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics tightens share base with latest buyback on AIM
Positive
Aug 14, 2026
EKF Diagnostics Holdings has executed a share buyback, purchasing 170,000 ordinary shares at a weighted average price of 25p per share and cancelling them. The transactions, conducted on AIM, form part of the company’s capital management str...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 75,000 Shares in Targeted Buyback
Positive
Aug 12, 2026
EKF Diagnostics Holdings has undertaken a share buyback, purchasing 75,000 ordinary shares at a weighted average price of 25p, with all of the repurchased shares to be cancelled. The move modestly reduces the company’s share count and may si...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics Tightens Capital Base With Targeted Share Buyback
Positive
Aug 11, 2026
EKF Diagnostics Holdings has executed a share buyback, acquiring 110,000 ordinary shares at a volume-weighted average price of 25.3636p and cancelling them. The buyback reduces the total issued share capital to 429,163,112 shares, all carrying vot...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Buys Back and Cancels 60,000 Shares
Positive
Aug 7, 2026
EKF Diagnostics Holdings has executed a share buyback, purchasing 60,000 ordinary shares at a weighted average price of 25.5p per share, with all repurchased shares to be cancelled. Following this transaction and the share cancellation, the compan...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 100,000 Shares in New Buyback Move
Positive
Aug 6, 2026
EKF Diagnostics Holdings has repurchased 100,000 of its ordinary shares at a weighted average price of 25.3p per share and will cancel them, reducing its issued share capital. The move reflects active capital management by the AIM-listed diagnosti...
Business Operations and StrategyStock Buyback
EKF Diagnostics Cancels 110,000 Shares in Targeted Buyback
Positive
Aug 5, 2026
EKF Diagnostics Holdings has executed a share buyback, purchasing 110,000 ordinary shares at a price of 25.5p each and cancelling them, leaving 429,433,112 shares in issue and none held in treasury. The move reduces the company’s share count...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 40,000 Shares in Targeted Buyback
Positive
Aug 4, 2026
EKF Diagnostics has executed a share buyback, purchasing 40,000 ordinary shares at a weighted average price of 25.3p per share and cancelling them to reduce its share capital. Following this transaction, the company’s issued share capital st...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 80,000 Shares in Targeted Buyback
Positive
Aug 3, 2026
EKF Diagnostics Holdings has undertaken a share buyback, purchasing 80,000 ordinary shares at a weighted average price of 25.5p per share, with the shares to be cancelled. Following this transaction, the company’s issued share capital will c...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics trims share count with 100,000-share buyback
Positive
Jul 31, 2026
EKF Diagnostics Holdings has executed a share buyback, purchasing 100,000 ordinary shares at a weighted average price of 25.42p and cancelling them, in a move that reduces its outstanding share count. Following the cancellation, the company’...
Business Operations and StrategyStock Buyback
EKF Diagnostics Cancels 100,000 Shares After Targeted Buyback
Positive
Jul 31, 2026
EKF Diagnostics Holdings plc, an AIM-listed global diagnostics firm, focuses on point-of-care analysers in hematology and diabetes and provides life sciences services that manufacture specialist enzymes and custom products for diagnostic, food and...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 150,000 Shares After Buyback
Neutral
Jul 30, 2026
EKF Diagnostics Holdings has executed a share buyback, purchasing 150,000 ordinary shares at a price of 25.5 pence per share, with the shares to be cancelled. Following this transaction, the company’s issued share capital will consist of 429...
Business Operations and StrategyStock BuybackFinancial Disclosures
EKF Diagnostics lifts margins and cash as Life Sciences drives H1 2026 growth
Positive
Jul 30, 2026
EKF Diagnostics reported that first-half 2026 trading was in line with expectations, with revenue broadly flat at £25.0m but gross margin improving to 53% and adjusted EBITDA continuing to grow. The group ended the period with £16.0m in ...
Business Operations and StrategyStock Buyback
EKF Diagnostics cancels shares after targeted buyback on AIM
Positive
Jul 27, 2026
EKF Diagnostics Holdings plc has executed a share buyback, purchasing 60,000 ordinary shares at a weighted average price of 25.1932 pence, with all acquired shares to be cancelled. The transaction was carried out on 24 July 2026 on AIMX and forms ...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cancels 50,000 Shares in Targeted Buyback
Positive
Jul 17, 2026
EKF Diagnostics Holdings, the AIM-listed global diagnostics business, has executed a share buyback of 50,000 ordinary shares at a weighted average price of 25.5 pence, with all repurchased shares to be cancelled. Following this transaction, the co...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
EKF Diagnostics Cuts Share Count with 100,000-Share Buyback
Positive
Jul 16, 2026
EKF Diagnostics Holdings has executed a share buyback, purchasing 100,000 ordinary shares at a weighted average price of 25.5 pence per share, with all repurchased shares to be cancelled. The transactions, carried out on the AIM market, form part ...
Stock BuybackRegulatory Filings and Compliance
EKF Diagnostics cancels 150,000 shares in latest buyback
Positive
Jul 15, 2026
EKF Diagnostics Holdings has executed a share buyback, purchasing 150,000 ordinary shares at a weighted average price of 25.5 pence per share, with all repurchased shares to be cancelled. Following this transaction and cancellation, the company...
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.