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ITM Power PLCITM.LCompetitor analysis, valuation and peers

United Kingdom · GBP·Industrials›Electrical Products
Momentum laggard 2
Mkt cap
$689M
US dollars, full cap
Free float
55%
of shares outstanding
$/day
$3.15M
20-day average traded
P/B
2.13×
price to book
ROE
-10.8%
delivered
Implied ROE
41.9%
what the price asks
Next earnings
89 days
3 Feb 2027
Close · GBP£74.05
1D-1.0%
1W-1.5%
1M-19.6%
3M-34.1%
6M-52.8%
YTD+18.9%
1Y-0.3%
ATR %7.9%
52w lowhigh66.3% off high

What ITM Power does

No business profile yet.

ITM Power at a glance

Size ITM Power (ITM.L) is a United Kingdom Industrials company (Electrical Products) with a market value of $689M, the 260th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £74.05 on 6 Nov 2026.

Performance Over six months the shares fell 52.8%, against -29.6% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 3rd lowest of 21 in its peer set.

Growth Revenue grew 67.6% over the last twelve months (peer median +15.2%); the operating margin is -74.1% (peer median 4.4%).

Valuation It trades at 2.13× book value against a peer median of 2.29× (11th cheapest of 21).

Price implies The share price implies a return on equity of about 41.9%; ITM Power delivers -10.8%, so the price asks more than the business earns today.

Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).

Relative performance

507510012511 May 202611 Aug 20266 Nov 2026Peer median 71ITM.L 45
Six months, rebased to 100: ITM Power against the median of its 20 peers (local-currency closes).

ITM Power financials

Reported figures in GBP; fiscal year ends 2026-04-30. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue£43.6M£43.6M£26.0M£16.5M£5.23M
Revenue growth—+68%+58%+216%—
Gross profit-£14.8M-£9.82M-£31.1M-£22.6M-£83.0M
EBITDA-£23.6M-£23.6M-£162M-£31.7M-£96.9M
Net income-£25.0M-£25.0M-£45.5M-£27.2M-£101M
Free cash flow-£26.1M-£26.1M-£18.4M-£50.3M-£76.5M
Capital expenditure£13.2M£13.2M£12.8M£14.0M£15.1M
Total debtn/a£14.1M£12.3M£12.7M£7.81M

Quarterly statements and history in the cockpit →

ITM Power competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-60%-40%-20%0%-30%-20%-10%300265ADSE00235830012000213268829530056900295330062608292060340016096883451514300506KSHINTL301182601218300833688275ITM.L6-month return →1-month return →
Up and to the right = strong over both horizons. ITM Power is the large dot.

Fundamentals: return on equity against price-to-book

-20%0%20%2.50×50×7.50×30026500235830012000213268829530056900295330062608292060340016096883451514300506KSHINTL301182ITM.LReturn on equity →Price / book →
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. ITM Power is the large dot.

Capital: ROE delivered against the ROE the price implies

-25%0%25%50%75%0%50%30026500235830012000213268829530056900295330062608292060340016091514KSHINTL301182ITM.LROE delivered →ROE the price implies →
Above the diagonal = the price asks for a higher return on equity than the business earns today. ITM Power is the large dot.

ITM Power competitors and peer comparison

How ITM Power compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

ITM Power against its 20 peers (data as of 6 Nov 2026)
MeasureITM.LPeer medianRank in peer set
1-month return-19.6%-13.3%8th lowest of 21
6-month return-52.8%-29.6%3rd lowest of 21
Return on equity-10.8%5.3%3rd lowest of 20
Price / book2.13×2.29×11th cheapest of 21
ROE the price implies41.9%19.5%5th most demanding of 21
ROE delivered-10.8%5.3%3rd lowest of 20

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthROEPrice / bookImplied ROEDelivered ROE
ITM Power ITM.LUnited Kingdom$689M-53%+68%-11%2.13×41.9%-10.8%
Jiangsu Tongguang Electronic Wire and Cable 300265.SZChina$690M-43%-4%-1%1.99×15.5%-1.5%
ADS-TEC Energy Public ADSEUnited States$692M-18%-42%n/a77.79×295.6%n/a
Henan Senyuan Electric 002358.SZChina$684M-32%+2%3%1.40×13.2%2.8%
Tianjin Jingwei Huikai Optoelectronic 300120.SZChina$693M+9%+30%-19%1.90×14.2%-18.5%
Henan Hengxing Science & Technology 002132.SZChina$681M-29%+3%1%1.32×16.9%1.1%
Zhongfu Shenying Carbon Fiber 688295.SSChina$680M-45%+22%3%5.88×39.5%3.0%
Qingdao Tianneng Heavy Industries 300569.SZChina$698M-25%+5%2%0.86×8.5%2.3%
Guangdong Rifeng Electric 002953.SZChina$679M-22%+11%7%2.00×22.2%6.7%
Huarui Electrical Appliance 300626.SZChina$678M-6%+7%3%8.50×62.8%2.7%
VITZROCELL 082920.KSSouth Korea$675M-64%+21%22%2.57×11.8%21.8%
Suzhou Huazhijie Telecom 603400.SSChina$675M-36%+14%6%3.73×37.1%5.8%
Ta Ya Electric Wire & Cable 1609.TWTaiwan$709M-9%+17%12%1.37×8.3%11.9%
Guangdong Greenway Technology 688345.SSChina$668M-17%+39%10%3.37×36.6%10.2%
Allis Electric 1514.TWTaiwan$665M-32%+24%16%3.49×23.8%16.4%
Shenzhen Minkave Technology 300506.SZChina$716M-31%-7%1%3.51×36.0%0.8%
KSH International KSHINTL.NSIndia$720M+59%+61%24%7.57×75.8%23.7%
Henan Carve Electronics Technology 301182.SZChina$657M-34%+32%-22%7.03×59.9%-21.9%
Jiangsu SINOJIT Wind Energy Technology 601218.SSChina$657M-30%+28%6%1.43×9.6%5.5%
Guangzhou Haoyang Electronic 300833.SZChina$729M+3%+10%7%1.98×14.6%6.6%
Hubei Wanrun New Energy Technology 688275.SSChina$648M-67%+146%5%1.18×16.2%5.3%

Questions

Which companies are ITM Power's closest peers?
The cockpit's peer set: Jiangsu Tongguang Electronic Wire and Cable (300265.SZ), ADS-TEC Energy Public (ADSE), Henan Senyuan Electric (002358.SZ), Tianjin Jingwei Huikai Optoelectronic (300120.SZ), Henan Hengxing Science & Technology (002132.SZ), Zhongfu Shenying Carbon Fiber (688295.SS), Qingdao Tianneng Heavy Industries (300569.SZ), Guangdong Rifeng Electric (002953.SZ).
Is ITM Power expensive compared with its peers?
On price / book it trades at 2.13× against a peer median of 2.29×, 11th cheapest of 21 in its peer set. The share price implies a return on equity of about 41.9%; ITM Power delivers -10.8%, so the price asks more than the business earns today.
How has ITM Power stock performed?
Over six months to 6 Nov 2026 the shares returned -52.8% against -29.6% for the median peer; over one year -0.3%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.