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Tern plc
(LSE:TERN)
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Rating:51Neutral
Price Target:
1.00 p
▼(-16.67% Downside)
Action:Reiterated
Date:07/29/26
The score is held back primarily by weak financial performance (multi-year losses and persistent cash burn, with declining equity), partially offset by strong technical trend signals from price trading above major moving averages. Valuation remains a concern due to negative earnings (negative P/E) and no dividend data.
Positive Factors
Low leverage
Modest leverage limits interest and refinancing pressure, giving Tern some balance-sheet resilience despite its losses. Lower debt also preserves flexibility to support portfolio companies or fund operations without the added constraints associated with heavily leveraged financing.
Negative Factors
Persistent net losses
Multi-year losses indicate that Tern has not yet established dependable earnings power from its investment portfolio or operating activities. Continued deficits can erode capital, restrict reinvestment capacity, and make future performance increasingly dependent on successful portfolio realizations.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Modest leverage limits interest and refinancing pressure, giving Tern some balance-sheet resilience despite its losses. Lower debt also preserves flexibility to support portfolio companies or fund operations without the added constraints associated with heavily leveraged financing.
Read all positive factors
Tern plc (TERN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£10.87M
Dividend YieldN/A
Average Volume (3M)2.78M
Price to Earnings (P/E)―
Beta (1Y)-0.59
Revenue Growth1240.62%
EPS Growth-8.11%
CountryUK
Employees6
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding905,543,700
10 Day Avg. Volume1,185,512
30 Day Avg. Volume2,784,643
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)0.61
Price to Sales (P/S)77.30
P/FCF Ratio-3.72
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)N/A
Tern plc Business Overview & Revenue Model
Company Description
Tern Plc is a venture capital firm specializing in early-stage and growth capital investment. The firm typically invests in the software companies having IoT security, Artificial Intelligence ("AI"), Machine Learning ("ML"), Virtual/Augmented Real...
How the Company Makes Money
Tern plc’s primary economic model is that of an investment holding company: it seeks to create value by acquiring and holding equity (and potentially other investment instruments) in portfolio companies and benefiting from increases in their value...
Tern plc Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 54.00K | 17.40K | 199.23K | -8.34M | 6.10M |
| Gross Profit | 54.00K | 17.40K | 199.23K | 66.01K | 63.78K |
| EBITDA | -5.09M | -1.18M | -12.67M | -10.25M | -1.61M |
| Net Income | -5.09M | -3.77M | -12.61M | -10.45M | 4.58M |
Balance Sheet | |||||
| Total Assets | 7.49M | 11.31M | 13.15M | 25.18M | 32.76M |
| Cash, Cash Equivalents and Short-Term Investments | 49.38K | 382.21K | 297.56K | 931.76K | 1.96M |
| Total Debt | 181.93K | 161.11K | 418.20K | 0.00 | 0.00 |
| Total Liabilities | 607.41K | 597.62K | 848.44K | 325.00K | 342.06K |
| Stockholders Equity | 6.88M | 10.71M | 12.30M | 24.85M | 32.42M |
Cash Flow | |||||
| Free Cash Flow | -1.12M | -1.57M | -1.22M | -2.20M | -1.48M |
| Operating Cash Flow | -1.12M | -1.57M | -1.22M | -2.20M | -1.48M |
| Investing Cash Flow | -453.90K | -406.39K | 151.92K | -1.63M | -2.50M |
| Financing Cash Flow | 1.24M | 1.65M | 431.54K | 2.80M | 3.81M |
Tern plc Technical Analysis
Neutral
1.20
Price Trends
1.26
Negative
1.09
Positive
0.81
Positive
Market Momentum
-0.03
Positive
44.86
Neutral
51.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TERN, the sentiment is Neutral. The current price of 1.2 is below the 20-day moving average (MA) of 1.26, below the 50-day MA of 1.26, and above the 200-day MA of 0.81, indicating a neutral trend. The MACD of -0.03 indicates Positive momentum. The RSI at 44.86 is Neutral, neither overbought nor oversold. The STOCH value of 51.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:TERN.
Tern plc Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | £197.04M | 80.77 | 5.22% | 0.81% | 19.00% | -53.85% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | £4.43M | -8.56 | -9.46% | 0.61% | -14.30% | -830.00% | |
56 Neutral | £5.92M | 21.33 | 4.92% | ― | ― | ― | |
55 Neutral | £34.98M | -24.21 | 49.22% | ― | 2.83% | -261.02% | |
51 Neutral | £10.87M | -1.48 | -59.29% | ― | 1240.62% | -8.11% | |
30 Underperform | £1.89M | -0.34 | -586.74% | ― | 2.82% | 70.83% |
* Financial Sector Average
GB:TERN
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Tern plc Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Tern plc launches underwritten open offer to fund patient exit strategy
Neutral
Sep 7, 2026
Tern plc has launched an underwritten open offer to raise about £509,368 via the issue of 56,596,480 new shares at 0.90p, a 25% discount to the recent market price. All qualifying shareholders can subscribe on a 1-for-16 basis, with CMC Marke...
Business Operations and StrategyPrivate Placements and Financing
Tern plc Clears Loan Facility, Strengthening Financial Flexibility
Positive
Aug 3, 2026
Tern plc has fully repaid the outstanding principal and accrued interest of £125,957.26 under a loan facility first agreed in June 2023 and last amended in March 2026. With this repayment, the company has cleared all obligations under the fac...
Regulatory Filings and Compliance
Tern plc Confirms Total Voting Rights at 905.5 Million Shares
Neutral
Jul 31, 2026
Tern plc has confirmed that its issued ordinary share capital now comprises 905,543,681 ordinary shares, each carrying one voting right, and that it holds no shares in treasury. This total voting rights figure provides the key denominator for inve...
Business Operations and StrategyPrivate Placements and Financing
Tern boosts Talking Medicines stake and raises shareholder payout commitment
Positive
Jul 28, 2026
Tern plc has invested £117,195 in new unsecured convertible loan notes issued by portfolio company Talking Medicines, doubling its economic exposure through an uplifted principal value of £234,389 while maintaining its 23.8% equity stake...
Business Operations and StrategyPrivate Placements and Financing
Tern plc raises £450,000 in discounted share placing to support IoT portfolio
Neutral
Jul 15, 2026
Tern plc has raised £450,000 through a placing of 50 million new shares at 0.90 pence, a roughly 31% discount to the prior mid-market price, with an investment management group. The issue represents about 5.5% of the enlarged share capital an...
Business Operations and StrategyShareholder Meetings
Tern Plc shareholders back all resolutions at general meeting
Positive
Jul 9, 2026
Tern Plc, the AIM-listed investor in Internet of Things technology businesses, concentrates on building value in high-growth IoT ventures that provide connected device technologies and related digital services. The company positions itself as a sp...
Business Operations and StrategyStock BuybackPrivate Placements and FinancingShareholder Meetings
Tern Plc AGM Resolutions Passed Amid Shareholder Dissent on Pre-emption Rights
Positive
Jun 30, 2026
Tern Plc reported that all resolutions at its Annual General Meeting were duly passed, including authorities to issue up to 175 million new ordinary shares, disapply pre-emption rights on up to 75 million new shares, and undertake market purchases...
Business Operations and StrategyFinancial DisclosuresShareholder Meetings
Tern pivots to portfolio value realisation as revised valuations cut reported asset base
Neutral
Jun 23, 2026
Tern plc has published its audited results for 2025 and called a general meeting on 9 July 2026, where shareholders will vote on adopting the accounts, reappointing auditors and approving the directors’ remuneration report. The company is pr...
Stock BuybackPrivate Placements and FinancingRegulatory Filings and ComplianceShareholder Meetings
Tern plc Sets AGM and Seeks Fresh Share Issuance and Buy-Back Powers
Neutral
Jun 8, 2026
Tern plc has called its Annual General Meeting for 9:30 a.m. on 30 June 2026 at the offices of Allenby Capital in London, with the notice and proxy materials made available to shareholders via post and the company’s website. Because its 2025...
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.