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Employees: 2,249
Size XP Power (XPP.L) is a United Kingdom Industrials company (Electrical Products) with a market value of $589M, the 275th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £1,564 on 6 Nov 2026.
Performance Over six months the shares fell 17.2%, against -31.8% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue fell 1.2% over the last twelve months (peer median +7.1%); the operating margin is 2.1% (peer median 1.8%).
Valuation It trades at 21.2× forward earnings against a peer median of 21.2× (6th cheapest of 11).
Price implies For today's price to make sense, revenue must grow about 51% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is +51 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 14.6 points below its cost of capital (15.9% WACC).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £228M | £230M | £247M | £316M | £290M |
| Revenue growth | — | -7% | -22% | +9% | — |
| Gross profit | £100M | £82.9M | £97.0M | £131M | £121M |
| EBITDA | £23.2M | £24.7M | £31.1M | £52.5M | £53.2M |
| Net income | -£8.50M | -£11.4M | -£9.60M | -£9.20M | -£20.0M |
| Free cash flow | £24.2M | £30.9M | £33.6M | £15.0M | -£15.0M |
| Capital expenditure | £21.5M | £16.1M | £20.1M | £40.1M | £19.4M |
| Total debt | n/a | £128M | £163M | £181M | £226M |
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.
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 | XPP.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.6% | -10.8% | 5th lowest of 21 |
| 6-month return | -17.2% | -31.8% | 5th highest of 21 |
| Distance from 52-week high | -27.6% | -50.9% | 3rd highest of 21 |
| Revenue growth (TTM) | -1.2% | +7.1% | 5th lowest of 20 |
| Operating margin | 2.1% | 1.8% | 10th highest of 20 |
| Forward P/E | 21.2× | 21.2× | 6th cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | 50.9% | 22.7% | 2nd most demanding of 9 |
| Growth delivered (Del g) | -0.3% | +8.1% | lowest of 9 |
| Hurdle (Req g minus delivered) | +51.1 pp | +11.8 pp | most demanding of 9 |
| ROIC minus cost of capital | -14.6 pp | -6.0 pp | 4th lowest of 20 |
| EV / EBITDA | 23.3× | 10.5× | 2nd most expensive of 4 |
| Net debt / EBITDA | 4.4× | -0.1× | 2nd most indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| XP Power XPP.L | United Kingdom | $589M | -17% | -1% | 2% | 21.2× | 50.9% | -0.3% |
| Energy Vault NRGV | United States | $589M | -28% | +337% | -33% | n/a | n/a | n/a |
| Suzhou Longway Electronic Machinery 301202.SZ | China | $589M | -25% | +27% | 6% | n/a | n/a | n/a |
| SEC Electric Machinery 603988.SS | China | $585M | -33% | -15% | 0% | n/a | n/a | n/a |
| Chongqing Wangbian Electric (Group) 603191.SS | China | $594M | -42% | +5% | -1% | 22.0× | n/a | n/a |
| Jiangsu Yangdian Science & Technology 301012.SZ | China | $596M | -43% | 0% | 5% | n/a | 14.5% | +23.9% |
| Nano Nuclear Energy NNE | United States | $597M | -60% | n/a | -24,545% | n/a | n/a | n/a |
| Nanjing CIGU Technology 688448.SS | China | $581M | -15% | -18% | -7% | 73.7× | n/a | n/a |
| Nanjing Quanxin Cable Technology 300447.SZ | China | $581M | -35% | +8% | 4% | n/a | 29.2% | +3.3% |
| Shaanxi Baoguang Vacuum Electronic Apparatus 600379.SS | China | $580M | -30% | +7% | 5% | 43.4× | 37.9% | +7.0% |
| Shenzhen Bromake New Material 301387.SZ | China | $602M | -45% | +25% | -1% | 16.9× | n/a | n/a |
| Enovix ENVX | United States | $606M | -58% | +35% | -497% | n/a | n/a | n/a |
| Henan Tong-Da Cable 002560.SZ | China | $607M | -47% | +16% | 2% | 20.5× | 16.2% | +32.9% |
| Centiel CNTL.SW | Switzerland | $570M | +45% | -100% | n/a | 55.8× | n/a | n/a |
| CyberPower Systems 3617.TW | Taiwan | $610M | +11% | 0% | 19% | 10.2× | -10.8% | +5.4% |
| Shijiazhuang Tonhe Electronics Technologies 300491.SZ | China | $566M | -18% | +33% | 1% | 30.8× | n/a | n/a |
| Wuxi New Hongtai Electrical Technology 603016.SS | China | $614M | -50% | -4% | 10% | n/a | 36.8% | +6.7% |
| Sanbian Sci-Tech 002112.SZ | China | $617M | -37% | +7% | 1% | n/a | 59.0% | +13.2% |
| L.G. Balakrishnan & Bros LGBBROSLTD.NS | India | $562M | -4% | +21% | 11% | 16.3× | n/a | n/a |
| Weihai Honglin Electronic 301439.SZ | China | $559M | -24% | +18% | 5% | n/a | n/a | n/a |
| Cinderson Tech (Suzhou) 603344.SS | China | $555M | -30% | +7% | 6% | 12.9× | 7.0% | +9.3% |