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Ithaca Energy PLC
(LSE:ITH)
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Rating:67Neutral
Price Target:
310.00 p
▲(16.02% Upside)
Action:Reiterated
Date:08/20/26
The score is driven primarily by solid but cyclical financial performance: strong operating profitability and positive free cash flow are offset by earnings volatility, weaker cash conversion, and rising leverage versus prior years. Technicals are supportive with an established uptrend and positive momentum. Valuation is mixed, with an attractive high dividend yield balanced against a relatively high P/E.
Positive Factors
Strong Operating Profitability
The TTM rebound combines renewed revenue growth with strong operating margins, showing that Ithaca’s producing asset base can generate substantial operating profit. If maintained, this profitability provides capacity to fund field activity, absorb costs, and support earnings through the next several quarters.
Negative Factors
Earnings Volatility
The contrast between strong operating margins and a recent net loss shows that reported earnings are not consistently translating the operating performance into bottom-line profit. This volatility can weaken retained cash generation and make financial outcomes less predictable across the next several reporting periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Operating Profitability
The TTM rebound combines renewed revenue growth with strong operating margins, showing that Ithaca’s producing asset base can generate substantial operating profit. If maintained, this profitability provides capacity to fund field activity, absorb costs, and support earnings through the next several quarters.
Read all positive factors
Ithaca Energy PLC (ITH) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£4.54B
Dividend Yield0.1%
Average Volume (3M)2.56M
Price to Earnings (P/E)23.2
Beta (1Y)0.76
Revenue Growth28.04%
EPS GrowthN/A
CountryUK
Employees658
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)0.16
Shares Outstanding1,653,732,400
10 Day Avg. Volume2,520,280
30 Day Avg. Volume2,560,217
Financial Highlights & Ratios
PEG Ratio0.31
Price to Book (P/B)1.43
Price to Sales (P/S)1.25
P/FCF Ratio4.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£275.33Price Target Upside3.04% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.29
Revenue Forecast (FY)£3.62B
Ithaca Energy PLC Business Overview & Revenue Model
Company Description
Ithaca Energy plc, alongside its subsidiaries, is an upstream energy firm focused on the exploration, development, and production of crude oil and natural gas. Its operations are centered in the North Sea, where it holds a portfolio of assets span...
How the Company Makes Money
Ithaca Energy makes money primarily by producing and selling crude oil, natural gas, and related natural gas liquids (where applicable) from its interests in North Sea fields. Revenue is generated from sales volumes multiplied by realized commodit...
Ithaca Energy PLC Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
60
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.48B | 2.95B | 1.98B | 2.32B | 2.60B | 1.43B |
| Gross Profit | 1.50B | 1.22B | 842.21M | 1.00B | 1.25B | 549.06M |
| EBITDA | 2.31B | 1.81B | 1.04B | 1.15B | 1.79B | 918.11M |
| Net Income | 258.81M | -85.86M | 153.15M | 215.63M | 1.03B | 620.62M |
Balance Sheet | ||||||
| Total Assets | 11.44B | 11.40B | 8.27B | 6.25B | 6.76B | 4.73B |
| Cash, Cash Equivalents and Short-Term Investments | 574.37M | 170.16M | 178.08M | 156.54M | 253.82M | 44.85M |
| Total Debt | 1.76B | 1.53B | 1.07B | 768.71M | 1.27B | 1.44B |
| Total Liabilities | 9.01B | 8.83B | 5.23B | 3.80B | 4.30B | 4.06B |
| Stockholders Equity | 2.43B | 2.57B | 3.04B | 2.44B | 2.46B | 676.51M |
Cash Flow | ||||||
| Free Cash Flow | 634.82M | 754.81M | 389.20M | 811.97M | 1.34B | 643.06M |
| Operating Cash Flow | 1.53B | 1.66B | 853.28M | 1.29B | 1.72B | 912.66M |
| Investing Cash Flow | -1.33B | -1.48B | -390.91M | -492.40M | -1.40B | -220.15M |
| Financing Cash Flow | -77.62M | -174.08M | -449.48M | -900.73M | -107.45M | -650.74M |
Ithaca Energy PLC Technical Analysis
Neutral
267.20
Price Trends
258.44
Positive
243.29
Positive
222.69
Positive
Market Momentum
5.70
Positive
50.62
Neutral
20.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:ITH, the sentiment is Neutral. The current price of 267.2 is below the 20-day moving average (MA) of 282.97, above the 50-day MA of 258.44, and above the 200-day MA of 222.69, indicating a neutral trend. The MACD of 5.70 indicates Positive momentum. The RSI at 50.62 is Neutral, neither overbought nor oversold. The STOCH value of 20.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:ITH.
Ithaca Energy PLC Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | £492.26M | 5.00 | 27.37% | 2.92% | 3.33% | ― | |
67 Neutral | £4.54B | 23.22 | 10.32% | 0.10% | 28.04% | ― | |
67 Neutral | £4.60B | 21.06 | 9.66% | 4.32% | 17.03% | ― | |
67 Neutral | £994.36M | -976.30 | -0.62% | 6.18% | 64.39% | 97.39% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | £1.31B | -7.99 | -114.52% | 8.51% | 8.94% | -196.02% | |
47 Neutral | £155.44M | -3.92 | 20.15% | 2.73% | -21.40% | 30.63% |
* Energy Sector Average
GB:ITH
Ithaca Energy PLC
276.00
98.28
55.30%
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GB:ENOG
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Ithaca Energy PLC Corporate Events
Executive/Board ChangesRegulatory Filings and Compliance
Ithaca Energy Executives Boost Holdings Through Share Incentive Plan
Neutral
Sep 9, 2026
Ithaca Energy has disclosed that its Executive Chairman, Chief Executive Officer and Chief Financial Officer acquired small tranches of ordinary shares under the company’s HMRC-approved all-employee Share Incentive Plan. The purchases, made ...
Business Operations and StrategyDividends
Ithaca Energy Sets Sterling Payment for First 2026 Interim Dividend
Positive
Sep 7, 2026
Ithaca Energy has confirmed details of its first interim dividend for 2026, totalling $255 million, equivalent to $0.1542 per ordinary share, to be paid on 24 September 2026 to shareholders on the register as of 4 September. The cash dividend will...
Business Operations and StrategyDelistings and Listing Changes
Ithaca Energy Joins FTSE 100 After Rapid North Sea Expansion
Positive
Sep 3, 2026
Ithaca Energy has confirmed its promotion to the FTSE 100 Index, effective 21 September 2026, marking a significant milestone in its growth since listing on the London Stock Exchange in 2022. The move reflects the company’s increased scale a...
Business Operations and StrategyDividends
Ithaca Energy Announces $255 Million First Interim Dividend for 2026
Positive
Aug 19, 2026
Ithaca Energy has declared its first interim dividend for 2026 of $255 million, equal to $0.1542 per ordinary share, to be paid on 24 September 2026 to shareholders on the register as of 4 September. The dividend will be paid in cash in sterling, ...
Business Operations and StrategyDividendsFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Ithaca Energy lifts dividend after record North Sea output and project advances
Positive
Aug 19, 2026
Ithaca Energy reported a strong first half of 2026, capped by record Q2 output of 131 kboe/d and an H1 average of 128 kboe/d, allowing management to reaffirm full‑year production guidance. Higher production, robust cash flow with adjusted EB...
Business Operations and StrategyRegulatory Filings and Compliance
Ithaca Energy Executives Add Shares Through Incentive Plan
Positive
Aug 7, 2026
Ithaca Energy has disclosed that its executive chairman, chief executive officer, and chief financial officer acquired small amounts of ordinary shares under the company’s HMRC-approved Share Incentive Plan. The purchases were made on 5 Augu...
Business Operations and StrategyExecutive/Board Changes
Ithaca Energy Adds Eni Upstream Chief to Board as Governance Line-up Shifts
Positive
Aug 6, 2026
Ithaca Energy has appointed Luca Vignati, currently Upstream Director at Eni, as a non-executive director and member of its Nomination and Governance Committee, effective 5 August, succeeding outgoing board member Guido Brusco. Vignati brings exte...
Executive/Board ChangesRegulatory Filings and Compliance
Ithaca Energy Executives Add Shares Under HMRC-Approved Incentive Plan
Positive
Jul 8, 2026
Ithaca Energy plc disclosed that executive chairman Yaniv Friedman, chief financial officer Iain Lewis and chief executive officer Luciano Vasques acquired ordinary shares through the company’s HMRC-approved Share Incentive Plan. Under the a...
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.