Northamber

NAR.L

Technology Distributors · Technology

Price

25.00 GBp

+0.00 (+0.00%)

Market Cap

6.8M GBp

Exchange

London Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

Dividends

Mixed

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Winston Score History

The full picture

Northamber plc is a British technology distributor that buys hardware and software products from manufacturers and resells them to businesses, IT resellers, and retailers across the United Kingdom. Its product range includes computers, networking equipment, storage devices, and peripherals from various technology brands. It is one of the smaller independent technology distributors operating in the UK market.

Northamber makes money by buying products in bulk and selling them at a markup, earning a margin on each transaction. With a gross margin of around 14% and a negative operating margin, the company is currently spending more to run its business than it earns from sales, which is a serious concern. The technology distribution industry is highly competitive, with large global rivals like TD SYNNEX and Ingram Micro able to offer lower prices due to their much greater scale — this pricing pressure remains the central risk Northamber faces as it works to return to profitability.

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

+22.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+36.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

£0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

77.7%ownership

Insiders own a meaningful stake in the company

Cash Runway

~5 months

£3M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Northamber has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

Share count broadly stable

+0.5% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 27.2M (2021) → 27.4M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

15.0%

Thin — 15.0% gross margin

Profit after running costs

Operating Margin

-0.6%

Losing money on operations — -0.6%

Return on the money invested

ROCE

-19.6%

Weak — -19.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+19.7%

Fast-growing sales (+19.7% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

0.1%

Thin free cash flow (0.1%)

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

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

2.45%

Moderate income — 2.45% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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