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Plexus Holdings

POS.L
20
Oil & Gas Equipment & Services · Energy
Price
4.00 GBp
+0.20 (+5.26%)
Market Cap
6.9M GBp
Exchange
London Stock Exchange
Winston Score
20
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 26, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Weak
Stability
Good
Valuation
Data not available

Share count rising — dilution

+20.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 100.4M (2021) → 121.1M (2025)

Winston Score History

The full picture

Plexus Holdings plc, along with its associated companies, supplies specialized equipment and support services to the petroleum industry throughout the United Kingdom, Europe, and on a global scale. A primary offering from the company is its patented POS-GRIP technology, an innovative friction-based engineering system. This method is utilized in oil and gas field wellheads, connectors, and metal-to-metal seals, functioning by elastically deforming one tubular component against another to ensure a secure grip and seal. Additionally, Plexus Holdings commercially develops various subsea applications and undertakes the design, fabrication, and manufacturing of products related to valves. The company was founded in 1985 and has its headquarters in Worthing, United Kingdom.

Growth Profile

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

Revenue Growth

-58.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+1.6% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

£0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Cash Runway

~1 months

£834,000 cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Plexus Holdings 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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
-41.6%
Thin — -41.6% gross margin
Profit after running costs
Operating Margin
-176.1%
Losing money on operations — -176.1%
Return on the money invested
ROCE
-27.3%
Weak — -27.3% 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
-73.3%
Shrinking sales (-73.3% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-134.9%
Burning cash (-134.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.06
Conservative — low debt load (0.06)
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

Not applicable for this business.
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