Added to YB: 2026-03-19
Pitch date: 2026-03-18
AT.L [bullish]
Ashtead Technology Holdings Plc
+20.84%
current return
Author Info
Company Info
Ashtead Technology Holdings Plc provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East.
Market Cap
GBP 328.4M
Pitch Price
GBP 3.94
Price Target
N/A
Dividend
0.32%
EV/EBITDA
5.75
P/E
10.32
EV/Sales
2.15
Sector
Trading Companies and Distributors
Category
turnaround
Ashtead Technology Holdings: Mispriced?
AT.L: Roll-up in subsea equipment rental. Rev +41% CAGR since 2021 IPO, EPS +37% CAGR, 22.7% ROIC, 29.1% adj EBITDA margin. Trades 7.9x trailing adj earnings despite strong growth & dominance in fragmented market. FY25: 22% rev growth, H2 up 5% vs H1, 1.3x leverage. Moat via proprietary tech & one-stop-shop offering across offshore energy/wind lifecycle. TAM growing 6% CAGR to 2029. Risk: customer concentration, energy cyclicality. Recently corrected from 800p to 346p on Trump renewables headwinds, now recovering. Mispriced; due for re-rating or takeover target.
Read full article (10 min)