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Oxford Technology 2 VCT (OXH) AI Stock Analysis

GB:OXH

Oxford Technology 2 VCT

(LSE:OXH)

Select Model
Rating:59Neutral
Price Target:GBX 9.00â–²(5.88% Upside)
Action:initiatedcoverage
Date:09/23/26

The score is capped primarily by weak financial quality despite a strong balance sheet: results and revenue have been highly volatile and cash flows remain consistently negative, including negative operating cash flow in the latest year. Technicals are mildly supportive with price above longer-term averages and neutral momentum, while valuation looks attractive on a very low P/E, partially offsetting the fundamental risk.

Positive Factors
Debt-free balance sheetThe absence of debt removes leverage and refinancing pressure, while the sizeable equity base provides financial resilience. This gives the VCT flexibility to support portfolio investments, absorb valuation volatility, and meet obligations without relying heavily on external funding.
Negative Factors
Persistent cash consumptionContinued negative operating and free cash flow indicates that reported earnings are not consistently converting into cash. This can constrain distributions and new investments, making the VCT more dependent on portfolio exits, asset sales, or its existing cash resources.

Oxford Technology 2 VCT (OXH) vs. iShares MSCI United Kingdom ETF (EWC)

-10%0%10%20%30%40%50%GB:OXH+41.67%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
GBP 2.37M
Dividend Yield
―
Average Volume (3M)
4,442
Price to Earnings (P/E)
4.8
Beta (1Y)
-0.05
Revenue Growth
157.14%
EPS Growth
―
Country
UK
Employees
0
Sector
Financial
Sector Strength
68
Industry
Asset Management

Oxford Technology 2 VCT Business Overview & Revenue Model

Company Description

Oxford Technology 2 Venture Capital Trust plc primarily allocates capital to nascent and early-stage businesses. This fund's strategy involves backing privately held companies, with a particular focus on enterprises engaged in the science, technology...

How the Company Makes Money

Oxford Technology 2 VCT makes money primarily from investment returns generated by its portfolio companies rather than from selling products or services. Key value and cash-generation mechanisms typically include: (1) capital gains on exits, where th...

Oxford Technology 2 VCT Financial Statement Overview

Summary

Balance sheet strength (no debt and solid equity base) supports financial stability, but overall operating performance is uneven: income has been highly volatile with multiple loss years, revenue is inconsistent (including a steep reported decline in 2026), and cash flow is persistently negative with profits not translating into operating cash generation.

Income Statement

44Neutral

Balance Sheet

78Positive

Cash Flow

34Negative
Financial statement breakdown
BreakdownTTMFeb 2026Feb 2025Feb 2024Feb 2023Feb 2022
Income Statement
Total Revenue578.00K124.00K89.00K-1.58M68.00K449.00K
Gross Profit525.00K71.00K26.00K-64.00K-4,00024.00K
EBITDA677.00K677.00K-1.49M-1.75M0381.00K
Net Income1.02M677.00K-1.49M-1.75M-1.88M381.00K
Balance Sheet
Total Assets6.77M6.77M6.04M7.47M9.21M1.73M
Cash, Cash Equivalents and Short-Term Investments67.00K67.00K97.00K139.00K292.00K184.00K
Total Debt000000
Total Liabilities206.00K206.00K155.00K93.00K84.00K24.00K
Stockholders Equity6.56M6.56M5.89M7.38M9.13M1.70M
Cash Flow
Free Cash Flow-50.00K-50.00K-119.00K-157.00K-210.00K-70.00K
Operating Cash Flow-50.00K-50.00K-119.00K-157.00K-210.00K-70.00K
Investing Cash Flow20.00K20.00K77.00K4,00052.00K68.00K
Financing Cash Flow0000266.00K-25.00K

Oxford Technology 2 VCT Peers Comparison

Overall Rating

UnderperformOutperform
Sector (68)

Financial Indicators

GB:OXH against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *68Neutral$18.00B11.429.92%3.81%9.73%1.22%
GB:OXHGB:OXH59NeutralGBP 2.37M4.787.78%―157.14%―
GB:PU13GB:PU1358NeutralGBP 243.73M45.022.17%2.55%――
GB:PUALGB:PUAL43NeutralGBP 29.84M-13.17-7.53%―――

* Financial Sector Average

Performance Comparison

0%20%40%GB:OXHGB:PUALGB:TPVGB:PU13Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
GB:OXH and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
GB:OXHOxford Technology 2 VCT8.502.5041.67%
GB:PUALPuma Alpha VCT Plc85.50-12.00-12.31%
GB:TPVTriple Point VCT 2011 PLC88.503.494.10%
GB:PU13Puma VCT 13 PLC117.501.000.86%

Oxford Technology 2 VCT Corporate Events

Financial DisclosuresRegulatory Filings and Compliance

Oxford Technology 2 VCT Posts Lower Half-Year NAVs but Maintains Strong Cumulative Returns

Neutral
Sep 21, 2026

Oxford Technology 2 VCT plc reported unaudited net asset values for its four share classes for the half year to 31 August 2026, showing declines in NAV per share ranging from 0.3% to 11.3% compared with the audited figures at 28 February 2026. Despit...

Regulatory Filings and ComplianceShareholder Meetings

Oxford Technology 2 VCT Secures Shareholder Backing at AGM

Positive
Jul 16, 2026

Oxford Technology 2 VCT reported that all resolutions at its 16 July 2026 annual general meeting were approved on a show of hands, confirming shareholder support for the board’s proposals. Proxy votes were lodged for 5,029,447 ordinary shares,...

Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings

Oxford Technology 2 VCT Wins Shareholder Backing at 2026 AGM

Positive
Jul 16, 2026

Oxford Technology 2 VCT plc reported that all resolutions at its 16 July 2026 annual general meeting were passed on a show of hands, confirming shareholder support for the board’s proposals. Proxy votes were lodged for 5,029,447 ordinary shares...

Regulatory Filings and Compliance

Oxford Technology 2 VCT Director Increases Shareholding

Positive
Jul 2, 2026

Oxford Technology 2 VCT plc has disclosed a share purchase by non-executive director Richard Roth, in line with EU Market Abuse Regulation requirements. The company’s ordinary shares, OT1, represent investors’ stakes in a portfolio of ear...

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 23, 2026