# Filtronic plc (FTC.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Technology / Communications Equipment. Price 213p, market value 696 millionp.

## Valuation
- **P/E (trailing): 106.5×** (5-yr avg 7161.5×, 3-yr avg 9388.3×). Filtronic plc trades at 106.5× trailing earnings, well below its own five-year average of 7161.5×: cheap by its own standards. The Technology median in the September 2026 study was 32.1×. Forward P/E is 55.0×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 12.5×**. Each dollar of revenue is priced at 12.5×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 11.5×**. The shares trade at 11.5× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 96.0×**. Enterprise value is 96.0× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: -0.1%** (5-yr avg 0.0%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 0.9%**. The inverse of the P/E: 0.9% of the price is earned each year.

## Profitability
- **Gross margin: 52.4%**. Filtronic plc keeps 52.4% of revenue after the direct cost of what it sells.
- **Operating margin: 7.2%**. 7.2% of revenue is left after running the business.
- **Net margin: 8.2%**. 8.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 11.1%**. 11.1% on shareholders' equity is solid.
- **Return on invested capital: 11.8%**. Return on all capital, debt included, is 11.8%.
- **Return on assets: 7.0%**. Each dollar of assets produces 7.0% of profit.

## Growth
- **Revenue growth (1 yr): -1.4%** (3-yr 50.6%/yr, 5-yr 29.0%/yr). Revenue fell 1.4% over the last year, against 29.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -70.6%** (3-yr 103.9%/yr, 5-yr 126.3%/yr). Earnings per share fell 70.6%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.14**. Debt is 0.14 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. Filtronic plc holds more cash than debt.
- **Interest coverage: 8.3×**. Operating profit covers interest 8.3× over, a safe margin.
- **Current ratio: 1.89** (quick 1.69). Current assets cover the next year's liabilities 1.89 times.
- **Altman Z-score: 19.75**. A Z-score of 19.75 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Filtronic plc does not currently pay a dividend, but it returned -0.0% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 65.4%** (YTD 26.4%, 3-mo -42.9%). The shares are up 65.4% over twelve months including dividends.
- **From 52-week high: -55.6%** (86.9% above the low). Trading 56% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 40**. An RSI of 40 is neutral.
- **Beta (1 yr): 0.85** (volatility 80%). Beta of 0.85 against the FTSE All-Share: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=FTC.L · Page: https://foliofundamentals.com/stocks/ftc.l

Not investment advice.