# Invinity Energy Systems plc (IES.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Utilities / Multi-Utilities. Price 22p, market value 123 millionp.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Invinity Energy Systems plc reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 9.4×**. Each dollar of revenue is priced at 9.4×.
- **Price / book: 1.9×**. The shares trade at 1.9× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -47.7%** (5-yr avg -0.4%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Gross margin: -57.6%**. Invinity Energy Systems plc keeps -57.6% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: -373.6%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -294.5%**. The company reported a net loss over the last twelve months.
- **Return on equity: -36.3%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -123.1%**. Return on all capital, debt included, is -123.1%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -57.9%**. Each dollar of assets produces -57.9% of profit.

## Growth
- **Revenue growth (1 yr): 63.2%** (3-yr 40.6%/yr, 5-yr 82.3%/yr). Revenue grew 63.2% over the last year, against 82.3% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 23.3%**. Earnings per share rose 23.3%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.03**. Debt is 0.03 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.6×**. It would take 0.6 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: -195.6×**. Operating profit covers interest only -195.6×: fragile.
- **Current ratio: 3.81** (quick 3.59). Current assets cover the next year's liabilities 3.81 times.
- **Altman Z-score: 5.84**. A Z-score of 5.84 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Invinity Energy Systems plc does not currently pay a dividend, but it returned -66.1% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 11.2%** (YTD 15.7%, 3-mo -40.6%). The shares are up 11.2% over twelve months including dividends.
- **From 52-week high: -46.5%** (39.8% above the low). Trading 46% 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): 38**. An RSI of 38 is neutral.
- **Beta (1 yr): 0.16** (volatility 69%). Beta of 0.16 against the FTSE All-Share: the shares move much less than the market.

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

Not investment advice.