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MicroSalt plc
(LSE:SALT)
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Rating:46Neutral
Price Target:
19.00 p
▲(18.75% Upside)
Action:Reiterated
Date:10/02/26
The score is held down primarily by weak financial performance—low gross margin, large ongoing losses, high leverage, and persistent cash burn. Technicals provide a modest offset with improving near-term momentum (price above 20/50-day averages and positive MACD), but longer-term trend remains weak (below 100/200-day averages). Valuation is also constrained by negative earnings (negative P/E) and no dividend yield provided.
Positive Factors
Patented reduced-sodium ingredient
The patented MicroSalt technology addresses a persistent demand for sodium reduction while preserving taste, giving the company a differentiated ingredient proposition. Its applicability across packaged foods and foodservice creates multiple routes for commercial adoption over the coming quarters.
Negative Factors
Very low gross margin and heavy losses
A gross margin of about 4% leaves little contribution from each sale to cover operating costs, while losses exceeding revenue show that scale has not yet translated into viable profitability. This weak earnings structure may remain a major constraint over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Patented reduced-sodium ingredient
The patented MicroSalt technology addresses a persistent demand for sodium reduction while preserving taste, giving the company a differentiated ingredient proposition. Its applicability across packaged foods and foodservice creates multiple routes for commercial adoption over the coming quarters.
Read all positive factors
MicroSalt plc (SALT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£14.86M
Dividend YieldN/A
Average Volume (3M)114.33K
Price to Earnings (P/E)―
Beta (1Y)0.47
Revenue Growth85.66%
EPS Growth46.90%
CountryUK
Employees6
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)-0.06
Shares Outstanding78,202,720
10 Day Avg. Volume300,006
30 Day Avg. Volume114,326
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)144.27
Price to Sales (P/S)14.69
P/FCF Ratio-8.55
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)N/A
Revenue Forecast (FY)£4.50M
MicroSalt plc Business Overview & Revenue Model
Company Description
MicroSalt Plc is involved in the creation and manufacturing of both sodium salt and snack food products. The company's core mission centers on actively reducing the sodium levels in its diverse range of food items, applying this aim to both curren...
How the Company Makes Money
MicroSalt plc makes money primarily by selling its MicroSalt ingredient to business customers. The core revenue model is ingredient sales (B2B), where MicroSalt is supplied for incorporation into customers’ food products (e.g., processed/packaged ...
MicroSalt plc Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.61M | 2.11M | 750.00K | 574.00K | 638.00K | 33.00K |
| Gross Profit | 239.21K | 88.82K | -438.00K | -150.00K | 197.00K | -63.00K |
| EBITDA | -2.78M | -3.19M | -5.81M | -3.34M | -2.41M | -1.15M |
| Net Income | -3.19M | -3.57M | -6.13M | -3.48M | -1.94M | -907.00K |
Balance Sheet | ||||||
| Total Assets | 3.52M | 4.26M | 2.54M | 2.27M | 667.00K | 428.00K |
| Cash, Cash Equivalents and Short-Term Investments | 317.64K | 1.91M | 261.00K | 117.00K | 91.00K | 18.00K |
| Total Debt | 3.03M | 2.87M | 2.75M | 2.52M | 170.00K | 860.00K |
| Total Liabilities | 4.75M | 4.05M | 4.09M | 4.27M | 335.00K | 914.00K |
| Stockholders Equity | -1.23M | 215.08K | -1.55M | -2.00M | 62.00K | -786.00K |
Cash Flow | ||||||
| Free Cash Flow | -2.79M | -3.63M | -6.34M | -2.78M | -2.09M | -1.29M |
| Operating Cash Flow | -2.72M | -3.47M | -5.93M | -2.59M | -1.97M | -1.28M |
| Investing Cash Flow | -152.38K | -223.59K | -399.00K | -189.00K | -116.00K | -9.00K |
| Financing Cash Flow | 2.00M | 5.37M | 6.47M | 2.80M | 2.16M | 1.30M |
MicroSalt plc Technical Analysis
Positive
16.00
Price Trends
16.00
Positive
24.37
Negative
38.42
Negative
Market Momentum
0.90
Negative
59.84
Neutral
46.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:SALT, the sentiment is Positive. The current price of 16 is below the 20-day moving average (MA) of 16.22, below the 50-day MA of 16.00, and below the 200-day MA of 38.42, indicating a neutral trend. The MACD of 0.90 indicates Negative momentum. The RSI at 59.84 is Neutral, neither overbought nor oversold. The STOCH value of 46.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:SALT.
MicroSalt plc Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | £76.14M | 5.81 | 42.90% | 1.64% | ― | ― | |
65 Neutral | £2.66B | 17.11 | 14.99% | 2.05% | 9.52% | 18.08% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | £12.77B | 13.69 | 8.44% | 3.44% | -2.16% | -24.87% | |
59 Neutral | £2.48B | 25.20 | 6.17% | 3.54% | 15.55% | 42.40% | |
46 Neutral | £14.86M | -4.29 | 626.84% | ― | 85.66% | 46.90% |
* Consumer Defensive Sector Average
GB:SALT
MicroSalt plc
19.00
-47.50
-71.43%
GB:ABF
Associated British Foods
1,834.00
-236.45
-11.42%
GB:FVA
Fevara plc
146.00
14.84
11.32%
GB:CWK
Cranswick
5,030.00
226.18
4.71%
GB:TATE
Tate & Lyle
559.50
196.78
54.25%
MicroSalt plc Corporate Events
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
MicroSalt Wins Shareholder Backing for Expanded Fundraising and Share Issuance Powers
Positive
Oct 2, 2026
MicroSalt plc has secured strong shareholder backing at its latest general meeting, with all six resolutions passed by large majorities. The approvals authorise directors to issue new ordinary shares for cash in relation to a planned fundraising, ...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
MicroSalt’s Over-Subscribed Retail Offer Boosts Capital and Voting Rights Clarity
Positive
Sep 30, 2026
MicroSalt plc has successfully closed an over-subscribed retail offer, conditionally raising £100,000 through the issue of 714,285 new ordinary shares at 14 pence each, with attached three-year warrants exercisable at the same price. Admissio...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
MicroSalt directors back AIM fundraising with conditional share subscription
Positive
Sep 30, 2026
MicroSalt plc has announced that several directors and persons discharging managerial responsibilities have conditionally subscribed for a total of 1,079,466 new ordinary shares at an issue price of 14 pence, raising gross proceeds of about £...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
MicroSalt lifts H1 revenue and margins as B2B rollouts accelerate
Positive
Sep 29, 2026
MicroSalt reported unaudited first-half 2026 revenue of US$1.4 million, up 67% year-on-year, with gross margins improving to 12% and net losses narrowing to US$1.5 million as bulk B2B sales to major food manufacturers gained traction. The company ...
Business Operations and StrategyPrivate Placements and Financing
MicroSalt launches retail offer as part of £1.5m fundraising push
Neutral
Sep 24, 2026
MicroSalt plc has launched a retail share offer to existing UK shareholders via the Bookbuild Platform, aiming to raise up to £100,000 through the issue of 714,285 new ordinary shares at 14 pence each. The offer mirrors the pricing and warran...
Business Operations and StrategyPrivate Placements and Financing
MicroSalt Raises £1.4m in Oversubscribed AIM Fundraise and Launches Retail Offer
Positive
Sep 24, 2026
MicroSalt has completed the primary phase of its latest equity fundraising, reporting that the subscription component was significantly oversubscribed and has now closed. The company has conditionally raised about £1.3 million through the iss...
Business Operations and StrategyFinancial Disclosures
MicroSalt sets date for interim results and opens investor presentation as low-sodium salt push intensifies
Positive
Sep 24, 2026
MicroSalt Plc, a producer of patented low-sodium salt using micron-sized particles, is positioning itself within the £10+ billion global salt market by offering a scalable alternative that maintains full flavour while halving sodium content. ...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingShareholder Meetings
MicroSalt seeks shareholder approval for equity fundraise and capital boost
Neutral
Sep 16, 2026
MicroSalt has called a general meeting on 2 October 2026 in London to seek shareholder approval for authorities needed to execute a proposed equity fundraise of up to about US$1.0 million. The company is offering a mix of direct subscriptions, a l...
Business Operations and StrategyPrivate Placements and Financing
MicroSalt strengthens balance sheet with note conversion and eyes fresh equity raise
Positive
Sep 10, 2026
MicroSalt has strengthened its balance sheet by converting US$2.4 million of convertible loan notes held by Tekcapital Europe Limited into 11,077,468 new ordinary shares at a 10% premium to the prior closing price. Following the conversion, Tekcap...
Business Operations and Strategy
MicroSalt schedules investor presentation to bolster market visibility
Positive
Jul 17, 2026
MicroSalt Plc will host a live investor presentation via the Investor Meet Company platform on 11 August 2026, led by CEO Rick Guiney and interim CFO Gary Urmston, with participation open to both existing and prospective shareholders. The event, w...
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.