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Image Scan Holdings (IGE) AI Stock Analysis

2 Followers
GB:IGE

Image Scan Holdings

(LSE:IGE)

Select Model
Rating:55Neutral
Price Target:GBX 3.50â–²(1.45% Upside)
Action:reiterated
Date:09/15/26

The overall score reflects weakening and volatile earnings with negative margins and recurring revenue declines as the primary constraint, balanced by a strongly capitalized balance sheet and recent positive operating and free cash flow that mitigate solvency risk. Strong recent price performance above key moving averages supports the score but is tempered by very stretched momentum readings, which increase the risk of a near-term correction. A moderate P/E without dividend support contributes to a valuation that is acceptable but not clearly inexpensive, reinforcing a cautiously neutral-to-slightly-positive overall assessment.

Positive Factors
Conservative leverageLow leverage reduces the company’s dependence on external financing and limits the burden of interest or refinancing costs. This provides greater financial flexibility to manage operating volatility, preserve capital, and support investment when business conditions improve.
Negative Factors
Revenue contractionA sharp annual revenue decline signals weakening demand, customer activity, or execution and reduces the scale available to support fixed operating costs. Unless sales stabilize, the contraction can continue to pressure profitability, investment capacity, and the company’s competitive position.

Image Scan Holdings (IGE) vs. iShares MSCI United Kingdom ETF (EWC)

-50%-25%0%25%50%75%100%125%GB:IGE+86.49%EWC+21.04%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
GBP 4.72M
Dividend Yield
―
Average Volume (3M)
258.29K
Price to Earnings (P/E)
23.0
Beta (1Y)
-0.39
Revenue Growth
20.42%
EPS Growth
―
Country
UK
Employees
15
Sector
Industrials
Sector Strength
63
Industry
Aerospace & Defense

Image Scan Holdings Business Overview & Revenue Model

Company Description

Image Scan Holdings Plc, established in 1995 and headquartered in Barrow-upon-Soar, United Kingdom, specializes in the development and global distribution of advanced X-ray imaging systems. The company primarily targets security and counter-terrorism...

Image Scan Holdings Financial Statement Overview

Summary

Financial performance is mixed: revenues have declined sharply with FY 2025 returning to operating and net losses after prior profitable years, and margins have turned negative, but this is partially offset by a conservative balance sheet with low leverage and equity well above debt and recent positive operating and free cash flow despite the net loss. Overall, the solid capital structure and current cash generation provide a cushion against deteriorating and volatile earnings, warranting a mid-range score.

Income Statement

32Negative

Balance Sheet

71Positive

Cash Flow

45Neutral
Financial statement breakdown
BreakdownTTMSep 2025Sep 2024Sep 2023Sep 2022Sep 2021
Income Statement
Total Revenue2.59M1.62M2.86M2.96M2.00M2.87M
Gross Profit1.42M946.33K1.51M1.44M1.08M1.51M
EBITDA331.94K-172.06K322.35K209.35K-268.24K259.43K
Net Income208.98K-288.02K207.01K123.94K-271.52K239.90K
Balance Sheet
Total Assets2.41M2.32M2.69M2.42M2.42M2.68M
Cash, Cash Equivalents and Short-Term Investments995.00K1.13M911.47K958.47K689.54K1.19M
Total Debt23.00K93.86K155.66K164.31K201.75K232.95K
Total Liabilities900.00K886.23K973.30K910.62K1.03M1.03M
Stockholders Equity1.51M1.43M1.72M1.51M1.39M1.65M
Cash Flow
Free Cash Flow515.75K309.75K-13.85K305.28K-469.25K-127.11K
Operating Cash Flow515.75K309.75K61.39K429.57K-290.05K2,361
Investing Cash Flow19.12K-42.88K-64.51K-117.65K-179.21K-129.47K
Financing Cash Flow-47.38K-47.38K-43.88K-43.00K-27.63K-95.96K

Image Scan Holdings Technical Analysis

Technical Analysis SentimentPositive
Last Price3.45

Price Trends

50DMA3.41Positive
100DMA2.88Positive
200DMA2.27Positive

Market Momentum

MACD0.01Negative
RSI61.07Neutral
STOCH28.57Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:IGE, the sentiment is Positive. The current price of 3.45 is above the 20-day moving average (MA) of 3.35, above the 50-day MA of 3.41, and above the 200-day MA of 2.27, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 61.07 is Neutral, neither overbought nor oversold. The STOCH value of 28.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:IGE.

Image Scan Holdings Peers Comparison

Overall Rating

UnderperformOutperform
Sector (63)

Financial Indicators

GB:IGE against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
GB:SNXGB:SNX67NeutralGBP 31.02M47.561.64%2.70%-15.64%-83.92%
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
GB:CSSGGB:CSSG62NeutralGBP 12.58M23.183.48%2.59%13.84%-30.24%
GB:IGEGB:IGE55NeutralGBP 4.65M23.0014.23%―20.42%―
GB:NWTGB:NWT49NeutralGBP 9.14M6.856.49%―-5.08%-12.18%
GB:PEGGB:PEG47NeutralGBP 5.16M-27.42-3.14%―-4.46%63.10%
GB:THRUGB:THRU40UnderperformGBP 9.16M-1.75-67.80%―44.63%59.14%

* Industrials Sector Average

Performance Comparison

0%100%200%GB:IGEGB:CSSGGB:THRUGB:NWTGB:PEGGB:SNXDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
GB:IGE and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
GB:IGEImage Scan Holdings3.451.85115.63%
GB:CSSGCroma Security Solutions92.5015.4019.97%
GB:THRUThruvision Group2.001.15135.29%
GB:NWTNewmark Security97.50-14.00-12.56%
GB:PEGPetards Group plc8.501.0013.33%
GB:SNXSynectics plc185.00-70.96-27.72%

Image Scan Holdings Corporate Events

Business Operations and StrategyProduct-Related Announcements

Image Scan Wins First Major ClanTect Deal in Eurasian Border Security

Positive
Sep 22, 2026

Image Scan Holdings has secured the first major contract for ClanTect Ltd, the human presence detection specialist it recently acquired, marking an early commercial success for the deal. The order covers six ClanTect human presence detection systems...

Business Operations and Strategy

Image Scan wins new MDXi-400 orders in global automotive supply chain

Positive
Sep 1, 2026

Image Scan Holdings’ subsidiary 3DX-RAY has secured two new orders for its MDXi-400 industrial X-ray inspection systems from an existing automotive manufacturing customer. The systems, to be installed in Korea and Brazil, will be used for quality ass...

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.

Date of analysis: Sep 15, 2026