Added to YB: 2026-02-19
Pitch date: 2026-02-16
KETL.L [neutral]
Strix Group Plc
-4.04%
current return
Author Info
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Company Info
Strix Group Plc designs, manufactures, and supplies kettle safety controls and other components worldwide.
Market Cap
GBP 114.3M
Pitch Price
GBP 0.52
Price Target
N/A
Dividend
N/A
EV/EBITDA
5.62
P/E
14.30
EV/Sales
1.36
Sector
Electronic Equipment, Instruments and Components
Category
value
A STRIX diet
KETL.L (pass): Sold high-margin Billi for £110m (10x earnings), moving from £69m net debt to £32m net cash, but loses 50% FY27 profits. Key kettle patents expired, eroding margins since 2014. Next-Gen & LAICA IP worth something but limited pricing power shown by 5yr poor performance. Trading 5x EV/EBITDA post-disposal but earnings power diminished, CEO stepping down adds risk.
Read full article (6 min)