olivLaw · European equity research
ELIXIRR INTERNATIONAL PLC ELIX.L
United Kingdom · London Stock Exchange · ISIN GB00BLPHTX84 · Vertical: Listed companies from United Kingdom
Elixirr International PLC is a UK strategic consulting firm with a strong artificial intelligence component, which completed its move from AIM to the Main Market of the London Stock Exchange in July 2025. For FY 25 it reported revenue of £149.6 million, up 34%, in a setting where clients remain selective in their investment decisions.
At the close of 05 Nov 2026, ELIXIRR INTERNATIONAL PLC (ELIX.L) stock was 4.95 GBP (−2.94% on the day), with market capitalisation 235.9 m GBP, P/E 13.3 on diluted EPS of 0.37 GBP over the last 12 months, dividend yield 3.56%, beta 0.40, 52-week range 4.80–8.60 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 43.4
- weak (30–45)
- Bollinger (20, 2)
- 4.80 – 5.23
- in the lower half of the band · %B 0.34 · band width 8.5%
- SMA 50 / 200
- 5.42 / 6.62
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.11 / -0.15
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −4.1% | −0.6% | −3.4 pp | — |
| 3 months | −23.4% | −4.2% | −19.2 pp | — |
| 6 months | −30.5% | +4.3% | −34.8 pp | — |
| Year to date | −40.1% | +7.5% | −47.6 pp | — |
| 1 year | −40.2% | +9.9% | −50.1 pp | +5.8% |
| 3 years | +7.6% | +49.8% | −42.2 pp | +26.3% |
| 5 years | −30.8% | +42.8% | −73.6 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 2-quarter history (min 22.2, median 22.5, max 22.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2024 | 2025 |
|---|---|---|
| Revenue | 111.3 m | 149.6 m |
| Revenue YoY | unavailable | +34.4% |
| Net income | 16.4 m | 19.7 m |
| Net income YoY | unavailable | +20.3% |
| Diluted EPS | 0.32 | 0.37 |
| Diluted EPS YoY | unavailable | +17.5% |
| net % | 14.7% | 13.2% |
| Free cash flow | 29.3 m | 32.9 m |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 5.1 m GBP
- Financial debt
- 22.9 m GBP
- Net debt
- 17.9 m GBP
- Equity
- 142.5 m GBP
- Total assets
- 251.1 m GBP
- Debt / equity
- 0.16x
- Current ratio
- 0.52x
- ROE
- 14.3%
- ROA
- 9.3%
- FCF margin
- 22.0%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Revenue | 111.3 m | 149.6 m | esef· 12 May 2026verified |
| Cost of revenue | 75.5 m | 99.9 m | esef· 12 May 2026verified |
| Gross profit | 35.8 m | 49.7 m | esef· 12 May 2026verified |
| Operating income | 23.7 m | 29.7 m | esef· 12 May 2026verified |
| Interest expense | 1.2 m | 2.3 m | esef· 12 May 2026verified |
| Pre-tax income | 22.9 m | 27.6 m | esef· 12 May 2026verified |
| Income tax | 6.5 m | 7.9 m | esef· 12 May 2026verified |
| Net income | 16.4 m | 19.7 m | esef· 12 May 2026verified |
| Diluted EPS | 0.32 | 0.37 | esef· 12 May 2026verified |
| Dividend per share | 0.15 | 0.18 | esef· 12 May 2026derived |
Balance sheet · GBP
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Cash | 7.5 m | 5.1 m | esef· 12 May 2026verified |
| Receivables | 18.4 m | 26.8 m | esef· 12 May 2026verified |
| Current assets | 26.4 m | 32.6 m | esef· 12 May 2026verified |
| Property, plant & equipment, net | 4.9 m | 4.2 m | esef· 12 May 2026verified |
| Total assets | 174.4 m | 251.1 m | esef· 12 May 2026verified |
| Accounts payable | 25.7 m | 30.3 m | esef· 12 May 2026verified |
| Long-term debt | 3.4 m | 22.9 m | esef· 12 May 2026verified |
| Current liabilities | 32.8 m | 63.2 m | esef· 12 May 2026verified |
| Total liabilities | 42.3 m | 108.6 m | esef· 12 May 2026verified |
| Equity | 132.1 m | 142.5 m | esef· 12 May 2026verified |
| Shares outstanding at year end | 47.1 m | 47.7 m | esef· 12 May 2026derived |
Cash flow · GBP
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Operating cash flow | 29.4 m | 33.0 m | esef· 12 May 2026verified |
| Capex | 84.0 k | 73.0 k | esef· 12 May 2026verified |
| Free cash flow | 29.3 m ≈ | 32.9 m ≈ | esef· 12 May 2026derived |
| Investing cash flow | -21.1 m | -36.5 m | esef· 12 May 2026verified |
| Financing cash flow | -18.6 m | 1.4 m | esef· 12 May 2026verified |
| Dividends paid | 6.9 m | 8.4 m | esef· 12 May 2026verified |
| Share repurchases | 12.2 m | 20.7 m | esef· 12 May 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 76 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 235.9 m GBP
Key indicators
Coverage and freshness
Score by group
- Quality64
- Returns100
- Balance sheet60
- Valuation85
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Neutral profile · Score 76/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 14.7% | 50 (vs peers) | 17% |
| Net margin · Quality | 13.2% | 51 (vs peers) | 10% |
| FCF conversion · Quality | 167.2% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 12.9x | 100 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 0.5x | 0 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 13.3x | 72 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 14.0% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 12.3% | 100 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 25.5% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet60/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality64/100 · 3/3 factors with a value
- Returns100/100 · 2/2 factors with a value
- Valuation85/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ELIXIRR INTERNATIONAL PLC (ELIX.L). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 149.6 m GBP in 2025; YoY growth 34.4%; net margin 13.2%; ROE 14.3%.
The estimated value range is 4.20–6.47 GBP per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 5.36 GBP, the price of 4.95 GBP leaves a potential of 8.4% (value / price − 1) and a margin of safety of 7.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 76/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 167.2%
- Interest coverage: 12.9x
- P/E (TTM): 13.3x
- FCF yield: 14.0%
- Shareholder yield (distributions): 12.3%
- Payout ratio (FCF): 25.5%
What contradicts it
- Current ratio: 0.5x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| ELIX.LElixirr International PLC | 235.9 m | 13.3 | 14.3% | 13.2% | +34.4% | −36% / +4% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
1- and 3-year price returns: for ELIX.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (GBP)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 3.60 Total return -24% · Per year -24% | 6.33 Total return 32% · Per year 32% | 9.49 Total return 97% · Per year 97% |
| 3 years | 4.27 Total return -3% · Per year -1% | 8.37 Total return 85% · Per year 23% | 13.67 Total return 196% · Per year 44% |
| 5 years | 5.06 Total return 23% · Per year 4% | 11.07 Total return 154% · Per year 21% | 19.68 Total return 338% · Per year 34% |
- Exit P/E± 2.09
- Net margin± 1.46
- Annual revenue growth± 1.09
- Annual dilution± 0.12
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Elixirr International PLC is a UK strategic consulting firm with a strong artificial intelligence component, which completed its move from AIM to the Main Market of the London Stock Exchange in July 2025. For FY 25 it reported revenue of £149.6 million, up 34% 1, in a setting where clients remain selective in their investment decisions 1.
SWOT
Strengths
Weaknesses
Opportunities
- Demand for AI-related and technology transformation projects, where the company positions itself, could grow 1.
- Integrating recent acquisitions could open cross-selling opportunities across markets and capabilities 1.
- The move to the Main Market and a possible inclusion in larger indices could improve liquidity and visibility 1.
Risks
- Demand for serviceshigh
Revenue depends on the ability to win new mandates and cross-sell, and a fall in demand could affect results 1.
- Acquisitions and integrationhigh
Integrating acquired businesses carries execution and cultural risks, and failure could affect financial performance 1.
- Access to capitalmedium
The acquisition-led strategy depends on financing, and tighter credit or covenant breaches could limit expansion 1.
- Recruitment and retentionmedium
Losing key staff could disrupt client relationships and delivery capacity 1.
- Utilisation and profitabilitylow
Employee utilisation drives profitability, and a fall in projects could compress margins 1.
Investment thesis
What would need to be true (bull case)
- If the senior-led, AI-oriented model keeps attracting clients, revenue growth could remain solid, supported by high margins 1.
- Recent acquisitions could generate cross-selling synergies, and inclusion in larger indices could improve liquidity 1.
- Cash generation and a relatively reduced net debt position could provide flexibility for new investment or dividends 1.
What would break the thesis
- If AI reduces demand for volume-based models, revenue could fall faster than management expects 1.
- Dependence on the US market and on acquisitions could expose the company to regional shocks or integration risks 1.
- If clients stay selective, new mandates could slow, and a reduction in end-of-programme projects could weigh on the revenue base 1.
What to watch
- Revenue and Adjusted EBITDA margin trajectory against the FY 25 levelFY 26
- Integration of Kvadrant Consulting and TRC Advisory and cross-selling synergies2027
- Number of clients above £1 million revenue and the AI share of revenuenext 10-K
- Net debt level and compliance with revolving credit facility covenantsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Elixirr provides strategic consulting services that combine strategy expertise with technology, data and artificial intelligence, covering implementation as well as planning 1. Its model is senior-led and equity-backed at partner level, which the company says aligns its interests with long-term group value 1. In FY 25 the company worked with over 250 active clients 1, and Adjusted EBITDA reached £44.3 million with a margin of 29.6% 1.
The group expanded its platform through acquisitions, including TRC Advisory LLC in Chicago, completed in September 2025, and Kvadrant Consulting A/S in Copenhagen, acquired in January 2026 after the year end 1. The company says Kvadrant gives it a first Nordic foothold and access to Northern Europe and the EU market 1. Organic revenue growth was 15.3% in FY 25 1.
The growth strategy rests on four pillars: stretching existing partners, hiring new partners, promoting partners from within and acquiring new businesses 1. The company targets one to two high-quality acquisitions a year 1.
Segments
US operations
The US is the largest part of the business, accounting for 63% of group revenue in FY 25, up from 55% in FY 24 1. The TRC acquisition strengthened this presence 1.
AI and advanced technology consulting
The company says AI-related engagements were the fastest-growing part of the business in FY 25 and made up a larger share of revenue, typically broader and more closely tied to measurable outcomes 1. It uses more than 45 internally developed AI tools in its processes 1.
European expansion through acquisitions
The Kvadrant Consulting acquisition, completed after the FY 25 year end, gave the group its first Nordic foothold and strengthened access to Northern Europe 1. The company considers the two acquisitions complementary and a source of cross-selling opportunities 1.
Market context
The company describes a consulting market being reshaped by artificial intelligence, which alters the economics and delivery of part of the services, with pyramid-based time-and-materials models under pressure 1. Clients remain selective in their investment decisions, but demand for high-impact projects with measurable results has stayed solid, according to management 1. Management argues its model is well placed for this structural shift 1.
Access to acquisition capital and borrowing limits are, according to the report, factors that could constrain the pace of expansion if financing conditions tighten 1. The company extended its revolving credit facility to keep strategic flexibility 1.
Trends
- Artificial intelligence is redefining demandtailwind
Clients are asking for more strategic, outcome-linked projects, and management says its senior-led, outcome-focused model is aligned with this trend 1.
- Pressure on pyramid modelstailwind
Reducing repetitive tasks through AI puts pressure on time-and-materials models, which could favour firms whose model depends less on volume 1.
- Client selectivityheadwind
The report notes that clients remain selective in investment decisions, which could slow new mandates if demand cools 1.
- Consolidation in consultingmixed
The company's cross-border acquisitions show a trend of geographic expansion through M&A, which also brings integration risks if culture and management capacity are not aligned 1.
Competitive position
The report mentions that consulting firms compete for similar services, and Elixirr presents itself as an alternative to traditional consulting models 1. The company says its differentiator is the combination of senior strategy, technology and integrated delivery 1.
The competitive environment is intense, and the company's ability to protect its reputation and client relationships is, according to the report, essential to maintaining its position 1. Differentiation through AI and the equity-backed model is the main argument management puts forward 1.
- Large strategy consulting firms
The report refers to competition from traditional consulting firms without naming them 1.
- Digital transformation consultancies
These firms offer similar transformation and implementation services and serve the same client segments 1.
- AI and data consultancies
Competition comes from firms specialising in data and AI that can offer projects similar to the company's portfolio 1.
- Commercial and pricing consultants
In the commercial growth and pricing niche, where TRC operates, competition comes from firms specialised in that area 1.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202512 May 2026
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / ELIXIRR INTERNATIONAL PLC · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.