Integrated Diagnostics Holdings

IDHC.L

Medical - Diagnostics & Research · Healthcare

Price

0.54 GBp

+0.03 (+5.88%)

Market Cap

£313.9M

Exchange

London Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Strong

Growth

Exceptional

Cash Flow

Weak

Stability

Good

Valuation

Strong

Dividends

Weak

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Share count falling — buybacks

−3.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 600.0M (2021) → 581.3M (2025)

Winston Score History

The full picture

Integrated Diagnostics Holdings (IDH) runs a network of medical testing labs across the Middle East and Africa. Patients visit its clinics to get blood tests, scans, and other diagnostic checks that help doctors figure out what is wrong with them. IDH owns the Mega Lab brand in Egypt and operates under names like Biolab in Jordan and Ultralab in Sudan, making it one of the largest private diagnostics networks in the region.

IDH makes money by charging patients and insurance companies a fee for each test performed. Most of its revenue comes from Egypt, with smaller operations in Jordan, Sudan, Nigeria, and Pakistan. Its wide lab network, recognized brand names, and established relationships with doctors give it a competitive edge over smaller local rivals. The main risk is currency pressure, particularly in Egypt, where repeated devaluations of the Egyptian pound can significantly reduce the dollar value of earnings reported to international investors.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+17.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+59.6% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

0 EGP/ year

0.0% of revenue

Below sector average (18%)

Research and development spending

Insider Activity

49.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

0 EGP cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Integrated Diagnostics Holdings is a rare growth stock that's already generating positive cash flow while growing at 17%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

38.9%

Modest — 38.9% gross margin

Profit after running costs

Operating Margin

22.1%

Excellent — 22.1% operating margin

Return on the money invested

ROCE

52.4%

Exceptional — 52.4% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth

Sales YoY

+29.1%

Fast-growing sales (+29.1% YoY)

Profit growth

EPS YoY

+50.0%

Earnings growing fast (+50.0% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

14%

Weak — only 14% of profit becomes cash

Spare cash per sale

FCF Margin

1.7%

Thin free cash flow (1.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

100.00x

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

11.4x

Attractive valuation — P/E 11.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+3.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (11.4 → 7.9)

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Dividends

Dividend

Dividend Yield

1.57%

Small dividend — 1.57% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-71.3%

Dividend cut (-71.3% YoY) — warning sign

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