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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).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| 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 debt | n/a | £14.1M | £12.3M | £12.7M | £7.81M |
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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.
| Measure | ITM.L | Peer median | Rank 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 / book | 2.13× | 2.29× | 11th cheapest of 21 |
| ROE the price implies | 41.9% | 19.5% | 5th most demanding of 21 |
| ROE delivered | -10.8% | 5.3% | 3rd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| ITM Power ITM.L | United Kingdom | $689M | -53% | +68% | -11% | 2.13× | 41.9% | -10.8% |
| Jiangsu Tongguang Electronic Wire and Cable 300265.SZ | China | $690M | -43% | -4% | -1% | 1.99× | 15.5% | -1.5% |
| ADS-TEC Energy Public ADSE | United States | $692M | -18% | -42% | n/a | 77.79× | 295.6% | n/a |
| Henan Senyuan Electric 002358.SZ | China | $684M | -32% | +2% | 3% | 1.40× | 13.2% | 2.8% |
| Tianjin Jingwei Huikai Optoelectronic 300120.SZ | China | $693M | +9% | +30% | -19% | 1.90× | 14.2% | -18.5% |
| Henan Hengxing Science & Technology 002132.SZ | China | $681M | -29% | +3% | 1% | 1.32× | 16.9% | 1.1% |
| Zhongfu Shenying Carbon Fiber 688295.SS | China | $680M | -45% | +22% | 3% | 5.88× | 39.5% | 3.0% |
| Qingdao Tianneng Heavy Industries 300569.SZ | China | $698M | -25% | +5% | 2% | 0.86× | 8.5% | 2.3% |
| Guangdong Rifeng Electric 002953.SZ | China | $679M | -22% | +11% | 7% | 2.00× | 22.2% | 6.7% |
| Huarui Electrical Appliance 300626.SZ | China | $678M | -6% | +7% | 3% | 8.50× | 62.8% | 2.7% |
| VITZROCELL 082920.KS | South Korea | $675M | -64% | +21% | 22% | 2.57× | 11.8% | 21.8% |
| Suzhou Huazhijie Telecom 603400.SS | China | $675M | -36% | +14% | 6% | 3.73× | 37.1% | 5.8% |
| Ta Ya Electric Wire & Cable 1609.TW | Taiwan | $709M | -9% | +17% | 12% | 1.37× | 8.3% | 11.9% |
| Guangdong Greenway Technology 688345.SS | China | $668M | -17% | +39% | 10% | 3.37× | 36.6% | 10.2% |
| Allis Electric 1514.TW | Taiwan | $665M | -32% | +24% | 16% | 3.49× | 23.8% | 16.4% |
| Shenzhen Minkave Technology 300506.SZ | China | $716M | -31% | -7% | 1% | 3.51× | 36.0% | 0.8% |
| KSH International KSHINTL.NS | India | $720M | +59% | +61% | 24% | 7.57× | 75.8% | 23.7% |
| Henan Carve Electronics Technology 301182.SZ | China | $657M | -34% | +32% | -22% | 7.03× | 59.9% | -21.9% |
| Jiangsu SINOJIT Wind Energy Technology 601218.SS | China | $657M | -30% | +28% | 6% | 1.43× | 9.6% | 5.5% |
| Guangzhou Haoyang Electronic 300833.SZ | China | $729M | +3% | +10% | 7% | 1.98× | 14.6% | 6.6% |
| Hubei Wanrun New Energy Technology 688275.SS | China | $648M | -67% | +146% | 5% | 1.18× | 16.2% | 5.3% |