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Journeo
(LSE:JNEO)
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Rating:79Outperform
Price Target:
614.00 p
▲(21.58% Upside)
Action:Reiterated
Date:09/12/26
The score is driven primarily by strong financial performance (growth, improved profitability, materially stronger balance sheet, and robust recent free cash flow). Earnings call commentary reinforces the outlook with ambitious revenue and margin targets and confidence in a stronger second half, though margin pressure in information systems and below-target infrastructure protection profitability temper the rating. Technicals are supportive but appear somewhat stretched (RSI ~70), and valuation (P/E 21.44 with no dividend yield provided) is a mild headwind.
Positive Factors
Strong revenue and profit growth
Sustained expansion in revenue, operating profit and net income indicates that Journeo is scaling beyond a small project base. Improving profitability alongside growth suggests operating leverage and provides greater capacity to reinvest in products, customer deployments and future market expansion.
Negative Factors
Information systems margin pressure
The sharp gap between revenue and gross-profit growth shows that expansion is not currently translating proportionally into earnings in a core segment. Product mix and lower-margin initial releases could limit margin sustainability until newer offerings mature.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue and profit growth
Sustained expansion in revenue, operating profit and net income indicates that Journeo is scaling beyond a small project base. Improving profitability alongside growth suggests operating leverage and provides greater capacity to reinvest in products, customer deployments and future market expansion.
Read all positive factors
Journeo (JNEO) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£94.74M
Dividend Yield5.71%
Average Volume (3M)86.05K
Price to Earnings (P/E)21.6
Beta (1Y)0.97
Revenue Growth40.45%
EPS Growth-0.12%
CountryUK
Employees271
SectorIndustrials
Sector Strength72
IndustrySecurity & Protection Services
Share Statistics
EPS (TTM)0.25
Shares Outstanding17,674,793
10 Day Avg. Volume123,995
30 Day Avg. Volume86,049
Financial Highlights & Ratios
PEG Ratio-1.97
Price to Book (P/B)3.91
Price to Sales (P/S)1.63
P/FCF Ratio11.26
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)0.32
Revenue Forecast (FY)£72.00M
Journeo Business Overview & Revenue Model
Company Description
Journeo plc, established in 1993 and headquartered in Ashby-de-la-Zouch, UK (formerly known as 21st Century Technology plc until its renaming in October 2019), delivers sophisticated technology solutions to the transportation industry throughout t...
How the Company Makes Money
Journeo makes money by supplying transport technology solutions and associated services to public transport operators and transport authorities. Its revenue is primarily generated from: (1) sales and deployment of passenger information hardware an...
Journeo Earnings Call Summary
Earnings Call Date:Sep 08, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 30, 2027
Earnings Call Sentiment Positive
The call was strongly positive overall. Management reported substantial revenue, gross profit, profit before tax and EPS growth, continued operational cash generation, strong order intake, and significant expansion opportunities across transport, infrastructure protection, North America and M&A. The principal challenges were lower information systems margins, current infrastructure protection profitability below the group's target, working-capital-related first-half cash timing, recurring revenue growth below total group growth, and the absence of a current dividend plan. Management expressed confidence in second-half performance and longer-term growth targets.Positive Updates
Strong First-Half Financial Performance
Revenue increased 53% year-on-year to GBP 37.6 million, while purely organic revenue increased 13%. Group gross margins increased by 1%, resulting in gross profit rising 57% to GBP 14.5 million. Adjusted profit before tax increased 10% to GBP 3 million, and EPS increased to GBP 0.136 per share.
Negative Updates
Information Systems Margin Decline
Information systems gross profit increased 12% to GBP 5.3 million despite 40% revenue growth because margins fell 10% from the prior year. Management attributed this to product mix, new product releases with lower margins during initial production runs, and supply-chain factors.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong First-Half Financial Performance
Revenue increased 53% year-on-year to GBP 37.6 million, while purely organic revenue increased 13%. Group gross margins increased by 1%, resulting in gross profit rising 57% to GBP 14.5 million. Adjusted profit before tax increased 10% to GBP 3 million, and EPS increased to GBP 0.136 per share.
Read all positive updates
Company Guidance
Journeo’s guidance is to generate about GBP 80 million in 2027 and, through continued organic growth, very specifically targeted acquisition, consolidation, increased recurring revenue, maintenance software and services, SaaS applications, AI applications, and adjacent-market acquisitions, comfortably take revenue past GBP 150 million, generating good double-digit operating margins, with the long-term targets aimed at on a sort of three-year timeframe; information systems revenue is expected to stay strong in H2, margins will be much better than H1 but won’t come back to 48% in H2, and are expected to return to a normalized 48% for next year, while integrated services will have a H2 weighting for revenue and profit and H2 outperforms H1; infrastructure protection H2 should be similar to H1 in terms of margin, moving towards a double-digit margin within infrastructure protection next year, and North American expansion is planned from 2027 to 2028.Journeo Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 68.06M | 55.02M | 49.56M | 46.09M | 21.12M | 15.59M |
| Gross Profit | 25.88M | 20.79M | 17.68M | 14.31M | 7.77M | 6.02M |
| EBITDA | 8.06M | 7.30M | 6.51M | 5.10M | 1.83M | 1.24M |
| Net Income | 4.36M | 4.15M | 4.52M | 2.97M | 903.00K | 407.00K |
Balance Sheet | ||||||
| Total Assets | 57.16M | 53.42M | 42.15M | 35.75M | 15.31M | 11.76M |
| Cash, Cash Equivalents and Short-Term Investments | 12.63M | 12.03M | 14.32M | 8.12M | 533.00K | 1.10M |
| Total Debt | 1.63M | 1.70M | 1.24M | 1.18M | 3.00M | 2.16M |
| Total Liabilities | 31.66M | 30.44M | 24.83M | 23.02M | 13.16M | 10.55M |
| Stockholders Equity | 25.50M | 22.98M | 17.32M | 12.74M | 2.15M | 1.20M |
Cash Flow | ||||||
| Free Cash Flow | 5.22M | 7.97M | 6.51M | 441.00K | -1.27M | -623.00K |
| Operating Cash Flow | 5.48M | 8.22M | 7.59M | 1.66M | -587.00K | 2.00K |
| Investing Cash Flow | -11.52M | -11.37M | -1.08M | 1.52M | -686.00K | -625.00K |
| Financing Cash Flow | 675.00K | 880.00K | -309.00K | 4.40M | 706.00K | 472.00K |
Journeo Technical Analysis
Positive
505.00
Price Trends
497.30
Positive
462.95
Positive
457.33
Positive
Market Momentum
13.35
Negative
72.31
Negative
60.12
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:JNEO, the sentiment is Positive. The current price of 505 is below the 20-day moving average (MA) of 519.00, above the 50-day MA of 497.30, and above the 200-day MA of 457.33, indicating a bullish trend. The MACD of 13.35 indicates Negative momentum. The RSI at 72.31 is Negative, neither overbought nor oversold. The STOCH value of 60.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:JNEO.
Journeo Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | £94.74M | 21.60 | 18.00% | 5.71% | 40.45% | -0.12% | |
78 Outperform | £31.44M | 46.92 | 1.64% | 2.74% | -15.64% | -83.92% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | £10.02M | 15.04 | 4.23% | 3.31% | 10.89% | 9.05% | |
55 Neutral | £10.23M | 9.66 | 11.74% | 6.90% | 10.08% | ― | |
55 Neutral | £5.77M | -29.84 | -3.14% | ― | -4.46% | 63.10% | |
50 Neutral | £12.29M | -2.37 | -67.80% | ― | 44.63% | 59.14% |
* Industrials Sector Average
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Journeo Corporate Events
Business Operations and StrategyFinancial Disclosures
Journeo posts record H1 results and expands £200m sales pipeline
Positive
Sep 8, 2026
Journeo plc reported record interim results for the six months to 30 June 2026, with group revenue up 53% to £37.6m and gross profit up 57% to £14.5m, driven by organic growth and recent acquisitions. Adjusted profit before tax rose 10% ...
Business Operations and Strategy
Journeo wins £1.3m Elizabeth line display upgrade orders from GTS
Positive
Sep 3, 2026
Journeo’s subsidiary Infotec has secured £1.3 million in initial purchase orders from GTS Rail Operations to upgrade legacy systems and supply new passenger information displays across London’s Elizabeth line stations. The deal un...
Business Operations and StrategyFinancial Disclosures
Journeo Sets Date for Interim Results and Investor Presentation
Neutral
Sep 2, 2026
Journeo plc, traded on AIM as JNEO, specialises in intelligent systems that serve public transport networks and critical national infrastructure, including integrated vehicle surveillance and telematics, passenger information displays and advanced...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Journeo lifts H1 revenue 53% as acquisition-fuelled growth expands pipeline
Positive
Jul 28, 2026
Journeo reported a strong first half of 2026, with group revenues rising 53% to £37.6m and adjusted pre-tax profit up 10% to £3.0m, driven by organic growth and contributions from its Crime and Fire Defence Systems acquisition. The compa...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Journeo lifts revenue guidance on record H1 and expanding pipeline
Positive
Jul 28, 2026
Journeo reported a strong first half to 2026, with group revenues up 53% to £37.6m and adjusted profit before tax rising 10% to £3.0m, driven by organic growth and contributions from its Crime and Fire Defence Systems acquisition. Despit...
Business Operations and Strategy
Journeo wins £1.3m Metroline Manchester contract for bus safety and SaaS systems
Positive
Jun 23, 2026
Journeo has secured £1.3 million of purchase orders from Metroline Manchester for on-board bus safety systems, including its latest digital CCTV and digital wing mirror technology, to be installed on new Wrightbus Electroliner vehicles. Each ...
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.