Quartix Technologies

QTX.L

Hardware, Equipment & Parts · Technology

Price

225.00 GBp

+0.00 (+0.00%)

Market Cap

£109.0M

Exchange

London Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Exceptional

Growth

Good

Cash Flow

Exceptional

Stability

Good

Valuation

Good

Dividends

Exceptional

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Winston Score History

The full picture

Quartix Technologies is a British company that makes vehicle tracking systems. It sells small GPS devices that plug into cars, vans, and trucks, then sends location and driving data to a web dashboard that fleet managers can monitor. The company mainly serves small and medium-sized businesses that run delivery fleets or service vehicles across the UK, France, and the United States.

Quartix earns most of its revenue through recurring software subscriptions, which customers pay monthly or annually to access the tracking data and reports. This subscription model gives the business predictable cash flow and helps explain its strong margins for a company of its size, with a market cap of roughly $100 million. The main growth driver is expanding its customer base in the US and France, where it has less market share than in the UK, but the main risk is competition from larger telematics providers like Verizon Connect and Samsara, which have significantly more resources to invest in product development and sales.

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

+9.8% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+0.0% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

£826,000/ year

→ Flat (-4% vs prior year)

2.3% of revenue

Below sector average (15%)

Steady R&D investment year-over-year

Insider Activity

42.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

£5M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Growth context

Quartix Technologies is growing revenue at 10% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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: 48.7M (2021) → 48.4M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

80.0%

Premium pricing power — 80.0% gross margin

Profit after running costs

Operating Margin

25.0%

Excellent — 25.0% operating margin

Return on the money invested

ROCE

31.0%

Exceptional — 31.0% 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

+10.3%

Steady sales growth (+10.3% YoY)

Profit growth

EPS YoY

+21.3%

Earnings growing fast (+21.3% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

223%

Turns 223% of profit into real cash

Spare cash per sale

FCF Margin

12.3%

Converts sales into free cash efficiently (12.3%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

322.03x

Comfortably covers interest (322.0x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

17.1x

Fair value — P/E 17.1

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

+2.7

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend

Dividend Yield

4.31%

Healthy income — 4.31% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+34.3%

Dividend growing fast (34.3% YoY)

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