Cyba Plc (NARF) AI Stock Analysis

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Cyba Plc

(LSE:NARF)

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Rating:40Underperform

Price Target:GBX 0.21▲(12.97% Upside)

Action:reiterated

Date:10/28/26

The score is driven down primarily by weak financial health (persistent losses, negative equity, and pressured operating cash flow) and very bearish technical indicators (price below all key moving averages with negative MACD). Valuation provides limited offset because earnings are negative and there is no dividend support.

Positive Factors

Revenue ReboundThe 2026 revenue rebound demonstrates that Cyba can regain top-line scale after a weaker period. If this recovery proves durable, it could improve operating leverage, support investment in the business, and provide a foundation for eventual earnings improvement.

Negative Factors

Negative Equity and High DebtPersistent negative equity and debt exceeding total assets indicate a very thin capital base and limited financial flexibility. This structure can constrain investment, increase reliance on creditors or new financing, and make the company more vulnerable if operating losses continue.

Cyba Plc (NARF) vs. iShares MSCI United Kingdom ETF (EWC)

Market Cap: GBP 3.14M
Dividend Yield: ―
Average Volume (3M): 1.67M
Price to Earnings (P/E): -4.1
Beta (1Y): -2.84
Revenue Growth: 43.33%
EPS Growth: 75.00%
Country: UK
Employees: 15
Sector: Technology
Sector Strength: 61
Industry: Software - Infrastructure

Cyba Plc Business Overview & Revenue Model

Company Description

Narf Industries Plc is a cybersecurity company that, through its US subsidiary NARF Industries, conducts advanced cybersecurity research and development primarily for US government agencies, including DARPA, and commercializes products such as the Ra...

Cyba Plc Financial Statement Overview

Summary

Financial profile remains high risk. Revenue rebounded in 2026, but the company is still loss-making, with negative operating and net income. The balance sheet is strained with sustained negative equity and debt exceeding total assets, and operating cash flow remains negative (though free cash flow improved toward breakeven).

Income Statement

28Negative

Balance Sheet

18Very Negative

Cash Flow

22Negative

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2025	Dec 2023	Jun 2023	Dec 2021
Income Statement
Total Revenue	3.00M	3.00M	4.52M	6.06M	2.53M	0
Gross Profit	415.10K	415.10K	1.61M	2.75M	718.24K	1.26M
EBITDA	-2.22M	-2.20M	373.17K	-661.96K	-17.86M	-2.01M
Net Income	-3.56M	-3.56M	-963.09K	-1.16M	-18.43M	-2.01M
Balance Sheet
Total Assets	926.66K	926.66K	887.34K	1.98M	3.91M	2.22M
Cash, Cash Equivalents and Short-Term Investments	136.70K	136.70K	77.06K	268.74K	442.75K	274.97K
Total Debt	3.09M	3.09M	3.37M	1.63M	1.51M	854.62K
Total Liabilities	3.91M	3.91M	4.42M	2.17M	2.11M	311.06K
Stockholders Equity	-2.99M	-2.99M	-3.53M	-238.59K	31.65K	1.91M
Cash Flow
Free Cash Flow	-1.86M	-1.86M	0	138.45K	-3.49M	-1.93M
Operating Cash Flow	-1.86M	-1.86M	-222.52K	138.45K	-2.99M	-1.93M
Investing Cash Flow	0	0	0	0	-4.12M	-1.94M
Financing Cash Flow	661.38K	1.34M	163.83K	59.41K	7.11M	2.44M

Cyba Plc Technical Analysis

Technical Analysis SentimentNegative

Last Price0.18

Price Trends

50DMA0.33Negative

100DMA0.37Negative

200DMA0.42Negative

Market Momentum

MACD-0.04Negative

RSI27.91Positive

STOCH62.22Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:NARF, the sentiment is Negative. The current price of 0.18 is below the 20-day moving average (MA) of 0.24, below the 50-day MA of 0.33, and below the 200-day MA of 0.42, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 27.91 is Positive, neither overbought nor oversold. The STOCH value of 62.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:NARF.

Cyba Plc Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

GB:NARF against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
GB:ADVT	59Neutral	GBP 212.64M	25.56	6.50%	―	16.24%	62.25%
GB:KLSO	52Neutral	GBP 21.58M	9.69	16.23%	―	―	―
GB:ONDO	46Neutral	GBP 17.63M	-1.40	90.48%	―	20.06%	5.56%
GB:AC8	41Neutral	GBP 384.77M	-1.19	159.98%	―	―	-788.78%
GB:NARF	40Underperform	GBP 3.73M	-4.09	29.56%	―	43.33%	75.00%

* Technology Sector Average

Performance Comparison

GB:NARF and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
GB:NARF	Cyba Plc	0.18	-0.19	-50.67%
GB:ADVT	AdvancedAdvT Ltd.	170.00	-17.50	-9.33%
GB:ONDO	Ondo InsurTech Plc	7.15	-26.35	-78.66%
GB:AC8	Acceler8 Ventures Plc	51.50	31.70	160.15%
GB:KLSO	Insight Business Support Plc	3.90	0.85	27.87%
GB:GSC	GS Chain Plc	0.07	-0.21	-73.21%

Cyba Plc Corporate Events

Business Operations and StrategyStock BuybackShareholder Meetings

Narf Industries Wins Strong Shareholder Backing at AGM

Positive

Sep 25, 2026

Narf Industries plc, a U.S.-based cybersecurity group listed in London, focuses on high-end threat intelligence, cybersecurity research, and critical infrastructure protection for government clients. Its national security orientation places the compa...

Shareholder Meetings

Narf Industries Moves AGM Venue but Keeps Proxies and Agenda Intact

Neutral

Sep 15, 2026

Narf Industries plc has confirmed that its annual general meeting, scheduled for 2 p.m. on 24 September 2026, will now take place at 26 Caxton Street, London, SW1H 0RJ. A representative of the meeting chairman will remain at the original venue until...

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: Oct 28, 2026

Cyba Plc AI Stock Analysis