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Tristel
(LSE:TSTL)
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Rating:78Outperform
Price Target:
465.00 p
▲(11.38% Upside)
Action:Reiterated
Date:10/20/26
The score is driven primarily by strong financial performance (high margins, improving profitability, low leverage, and robust cash conversion) and a very constructive earnings call with reaffirmed long-term growth and margin commitments. Offsetting factors are only moderate technicals (near-term weakness versus shorter moving averages and a low RSI) and a somewhat premium valuation (P/E ~26) despite a supportive ~3.48% dividend yield.
Positive Factors
Proprietary technology and defensible market position
A proprietary technology position supported by patents, applications and difficult-to-replicate know-how can protect product differentiation over several years. This strengthens Tristel’s ability to win regulated healthcare accounts, support premium margins and build adoption as clinical evidence and guidelines expand.
Negative Factors
Legacy product declines and regional competition
Declining legacy products and competitive or tender-related pressure can offset growth from newer offerings, particularly in mature markets. If these headwinds persist, they could make consolidated growth less predictable and require greater commercial investment to defend existing positions.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary technology and defensible market position
A proprietary technology position supported by patents, applications and difficult-to-replicate know-how can protect product differentiation over several years. This strengthens Tristel’s ability to win regulated healthcare accounts, support premium margins and build adoption as clinical evidence and guidelines expand.
Read all positive factors
Tristel (TSTL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£194.70M
Dividend Yield3.51%
Average Volume (3M)88.19K
Price to Earnings (P/E)24.3
Beta (1Y)0.56
Revenue Growth10.02%
EPS Growth19.83%
CountryUK
Employees282
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.17
Shares Outstanding48,073,494
10 Day Avg. Volume125,264
30 Day Avg. Volume88,192
Financial Highlights & Ratios
PEG Ratio1.10
Price to Book (P/B)5.36
Price to Sales (P/S)3.74
P/FCF Ratio17.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£420.00Price Target Upside0.60% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.19
Revenue Forecast (FY)£56.15M
Tristel Business Overview & Revenue Model
Company Description
Tristel plc is a company specializing in the creation, production, and global distribution of products designed to prevent infections, serving both its home market in the UK and international clients. Its operations are structured around three cor...
How the Company Makes Money
Tristel makes money primarily by selling decontamination consumables and related solutions to healthcare providers and other regulated users. Its core revenue stream is the ongoing sale of proprietary chlorine dioxide–based disinfectant products (...
Tristel Earnings Call Summary
Earnings Call Date:Oct 19, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Feb 22, 2027
Earnings Call Sentiment Positive
The call was strongly optimistic. The company reported record revenue, double-digit growth, higher adjusted profit before tax, a 31% adjusted EBITDA margin, strong cash generation, no debt and a growing dividend. Management also highlighted substantial U.S. pipelines, new product launches, digital platform adoption, clinical evidence and significant market opportunities. The main negatives were legacy product declines, isolated competitive and tender-related challenges, higher tax expense, a one-off impairment and employee-share-scheme dilution. Overall, the highlights significantly outweighed the lowlights.Positive Updates
Record Revenue and Double-Digit Growth
Revenue reached a record GBP 51.1 million, representing 10% growth year-over-year. Growth was 5% in the U.K. and 13% overseas, while Americas sales tripled.
Negative Updates
Legacy Product Decline
Legacy products declined year-over-year at the group level. In New Zealand, the decline in legacy products offset slight growth in medical device decontamination and dragged down overall performance.
Read all updates
Q4-2026 Updates
Positive
Negative
Record Revenue and Double-Digit Growth
Revenue reached a record GBP 51.1 million, representing 10% growth year-over-year. Growth was 5% in the U.K. and 13% overseas, while Americas sales tripled.
Read all positive updates
Company Guidance
Management said results remain in line with expectations and the business is firmly on track to meet its financial targets, with a commitment out to 2030 of revenue growth that's not less than double digit on an annual basis, an EBITDA margin that exceeds 25% and a progressive year-on-year dividend growth policy. Priorities include accelerating U.S. growth, increasing commercial, clinical and R&D investment, expanding existing and new markets, launching Unifoam in January in a first phase market, and targeting an opportunity somewhere in the magnitude of GBP 40 million from bringing direct markets up to the median distribution, with further opportunity up to GBP 60 million from internal benchmarks.Tristel Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
82
Very Positive
Cash Flow
88
Very Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 51.12M | 46.46M | 41.93M | 36.01M | 31.12M |
| Gross Profit | 39.30M | 37.94M | 33.58M | 29.18M | 24.66M |
| EBITDA | 14.25M | 11.47M | 10.01M | 7.90M | 4.46M |
| Net Income | 7.98M | 6.64M | 6.49M | 4.46M | 987.00K |
Balance Sheet | |||||
| Total Assets | 48.27M | 45.33M | 44.11M | 41.37M | 38.74M |
| Cash, Cash Equivalents and Short-Term Investments | 16.00M | 12.84M | 11.79M | 9.54M | 8.88M |
| Total Debt | 5.86M | 5.88M | 5.86M | 5.18M | 5.81M |
| Total Liabilities | 12.55M | 12.34M | 11.70M | 10.68M | 9.75M |
| Stockholders Equity | 35.72M | 32.99M | 32.41M | 30.68M | 28.98M |
Cash Flow | |||||
| Free Cash Flow | 10.82M | 9.46M | 10.06M | 6.07M | 4.35M |
| Operating Cash Flow | 11.50M | 10.32M | 10.89M | 8.49M | 5.55M |
| Investing Cash Flow | 1.94M | -254.00K | -5.08M | -4.84M | -1.20M |
| Financing Cash Flow | -7.18M | -7.30M | -6.57M | -5.44M | -3.62M |
Tristel Technical Analysis
Negative
417.50
Price Trends
411.33
Negative
406.67
Negative
398.89
Positive
Market Momentum
-2.78
Positive
45.00
Neutral
46.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TSTL, the sentiment is Negative. The current price of 417.5 is above the 20-day moving average (MA) of 415.80, above the 50-day MA of 411.33, and above the 200-day MA of 398.89, indicating a neutral trend. The MACD of -2.78 indicates Positive momentum. The RSI at 45.00 is Neutral, neither overbought nor oversold. The STOCH value of 46.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:TSTL.
Tristel Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £194.70M | 24.28 | 23.05% | 3.51% | 10.02% | 19.83% | |
70 Outperform | £4.65B | 51.34 | 8.40% | 2.30% | 1.94% | -43.71% | |
68 Neutral | £9.38B | 19.74 | 12.25% | 2.63% | 2.17% | 27.33% | |
67 Neutral | £611.34M | 166.18 | 1.44% | 1.66% | 6.05% | -60.00% | |
55 Neutral | £878.82M | 52.60 | 5.91% | 0.65% | 5.88% | -9.18% | |
55 Neutral | £3.73M | -4.00 | -15.47% | ― | -3.68% | 20.00% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
GB:TSTL
Tristel
405.00
49.05
13.78%
GB:AMS
Advanced Medical Solutions
282.50
69.47
32.61%
GB:CTEC
ConvaTec
244.40
5.90
2.47%
GB:CVSG
CVS Group plc
1,327.00
93.58
7.59%
GB:SUN
Surgical Innovations
0.40
-0.18
-31.03%
GB:SN
Smith & Nephew
1,107.50
-260.64
-19.05%
Tristel Corporate Events
Business Operations and StrategyExecutive/Board ChangesDividendsFinancial Disclosures
Tristel lifts profits and dividend as U.S. growth and digital push gather pace
Positive
Oct 19, 2026
Hospital disinfectant manufacturer Tristel reported another year of double-digit growth, with revenue up 10% to £51.1m and adjusted pre-tax profit rising 15% to £11.7m. The group maintained an 82% gross margin, lifted its full-year divid...
Business Operations and StrategyFinancial Disclosures
Tristel Sets October Date for 2026 Results and Investor Briefings
Positive
Sep 30, 2026
Tristel plc, the AIM-listed infection prevention specialist, will publish its financial results for the year ended 30 June 2026 on 19 October 2026. The company plans to use the occasion to engage closely with analysts and investors through both on...
Business Operations and StrategyRegulatory Filings and Compliance
Tristel Updates Share Capital After Employee Option Exercise
Neutral
Aug 11, 2026
Tristel plc has issued and allotted 51,000 new ordinary shares following the exercise of share options by employees, with the shares expected to be admitted to trading on AIM on 14 August 2026. After admission, the company’s total ordinary s...
Private Placements and FinancingRegulatory Filings and Compliance
Tristel Issues New Shares After Employee Option Exercise, Lifts Voting Rights Total
Neutral
Jul 31, 2026
Tristel plc, the AIM-listed infection prevention specialist using proprietary chlorine dioxide technology, supplies hospitals worldwide with manual medical device decontamination and sporicidal surface disinfection products, and aims for double-di...
Business Operations and StrategyProduct-Related Announcements
Tristel launches premium paid tier of 3T compliance platform
Positive
Jul 27, 2026
Tristel plc, a specialist in infection prevention solutions for hospitals, has expanded its offering with the commercial launch of 3T Pro, a premium tier of its 3T digital compliance platform. The company, known for chlorine dioxide-based medical ...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Tristel posts double‑digit growth and boosts cash ahead of new CEO arrival
Positive
Jul 22, 2026
Tristel has reported another year of strong trading, with revenues for the year to 30 June 2026 rising 10% to £51.1m and adjusted profit before tax expected to grow 14% to at least £11.5m, slightly ahead of market forecasts. The company&...
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.