olivLaw · European equity research
Supply@ME Capital Plc SYME.L
United Kingdom · London Stock Exchange · ISIN GB00BFMDJC60 · Vertical: Listed companies from United Kingdom
Supply@ME Capital Plc develops a platform that lets companies monetise their stock by selling it to stock companies financed by third-party investors. In fiscal 2024 the company reported very low revenue and repeated losses, and material uncertainty about going concern remains, which makes the progress of its funding critical for investors and the public.
At the close of 20 May 2026, Supply@ME Capital Plc (SYME.L) stock was 0.00 GBP (+0.00% on the day), with beta 0.64, 52-week range 0.00–0.00 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)
- 46.1
- neutral
- Bollinger (20, 2)
- 0.00 – 0.00
- in the lower half of the band · %B 0.29 · band width 67.6%
- SMA 50 / 200
- 0.00 / 0.00
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.00 / -0.00
- MACD below 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 | unavailable | −0.6% | unavailable | — |
| 3 months | 0.0% | −4.2% | +4.2 pp | — |
| 6 months | unavailable | +4.3% | unavailable | — |
| Year to date | unavailable | +7.5% | unavailable | — |
| 1 year | unavailable | +9.9% | unavailable | +5.8% |
| 3 years | −97.8% | +49.8% | −147.6 pp | +26.3% |
| 5 years | −99.3% | +42.8% | −142.1 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.
Fiscal years
| Fiscal year | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | 138.0 k | 158.0 k | 129.0 k |
| Revenue YoY | unavailable | +14.5% | −18.4% |
| Net income | -10.4 m | -4.0 m | -2.7 m |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | -0.00 | -0.00 | -0.00 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | -7,548.6% | -2,557.6% | -2,065.1% |
| Free cash flow | -4.6 m | -3.6 m | unavailable |
Balance sheet & financial health
Fiscal year 2024 · 31 Dec 2024
- Cash
- 34.0 k GBP
- Financial debt
- 364.0 k GBP
- Net debt
- 330.0 k GBP
- Equity
- -4.2 m GBP
- Total assets
- 1.2 m GBP
- Debt / equity
- unavailable
- Current ratio
- 0.26x
- ROE
- unavailable
- ROA
- -158.6%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 138.0 k | 158.0 k | 129.0 k | esef· 14 Oct 2025verified |
| Cost of revenue | 338.0 k | 603.0 k | 427.0 k | esef· 14 Oct 2025verified |
| Gross profit | -200.0 k | -445.0 k | -298.0 k | esef· 14 Oct 2025verified |
| Operating income | -5.7 m | -4.1 m | -2.9 m | esef· 14 Oct 2025verified |
| Interest expense | 2.0 m | 83.0 k | 131.0 k | esef· 14 Oct 2025verified |
| Pre-tax income | -7.7 m | -4.2 m | -3.1 m | esef· 14 Oct 2025verified |
| Income tax | 0 | 0 | -139.0 k | esef· 14 Oct 2025verified |
| Net income | -10.4 m | -4.0 m | -2.7 m | esef· 14 Oct 2025verified |
| Diluted EPS | -0.00 | -0.00 | -0.00 | esef· 14 Oct 2025verified |
Balance sheet · GBP
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Cash | 257.0 k | 5.0 k | 34.0 k | esef· 14 Oct 2025verified |
| Receivables | 1.2 m | 1.0 m | 1.1 m | esef· 14 Oct 2025verified |
| Current assets | 8.3 m | 1.9 m | 1.2 m | esef· 14 Oct 2025verified |
| Property, plant & equipment, net | 7.0 k | 3.0 k | 1.0 k | esef· 14 Oct 2025verified |
| Total assets | 8.3 m | 2.2 m | 1.2 m | esef· 14 Oct 2025verified |
| Accounts payable | 4.6 m | 4.6 m | 4.5 m | esef· 14 Oct 2025verified |
| Long-term debt | 748.0 k | 840.0 k | 364.0 k | esef· 14 Oct 2025verified |
| Current liabilities | 9.1 m | 4.6 m | 4.5 m | esef· 14 Oct 2025verified |
| Equity | -2.0 m | -3.8 m | -4.2 m | esef· 14 Oct 2025verified |
Cash flow · GBP
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | -4.6 m | -3.6 m | -2.5 m | esef· 14 Oct 2025verified |
| Capex | 4.0 k | 0 | — | esef· 13 Jun 2024verified |
| Free cash flow | -4.6 m ≈ | -3.6 m ≈ | — | esef· 13 Jun 2024derived |
| Investing cash flow | -1.2 m | 446.0 k | 738.0 k | esef· 14 Oct 2025verified |
| Financing cash flow | 4.6 m | 2.6 m | 1.8 m | esef· 14 Oct 2025verified |
≈ 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
- indicators available: 3 of at least 6
- score weight coverage: 16.7% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
20 May 2026Source: olivLaw, closing series
Market cap: unavailable
The price is older than the freshness threshold; market indicators are unavailable.
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
17% · Insufficient data
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
Insufficient data
Minimum-evidence gate: indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -2,065.1% | 3 (vs peers) | 38% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -22.4x | 0 (on a fixed band) | 38% |
| Current ratio · Balance sheet | 0.3x | 0 (on a fixed band) | 25% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial3/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 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
SUPPLY@ME CAPITAL PLC (SYME.L). Latest full fiscal year: 2024; data up to 2024-12-31.
Figures computed from the financial statements: revenue 129.0 k GBP in 2024; YoY growth -18.4%; net margin -2,065.1%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 16.7% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -2,065.1%
- Interest coverage: -22.4x
- Current ratio: 0.3x
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
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% |
| 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% |
| AEP.LAnglo-Eastern Plantations PLC | — | — | 16.1% | 19.5% | +25.0% | +5% / +113% |
1- and 3-year price returns: for SYME.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
Scenarios are not available. input data missing
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
Supply@ME Capital Plc develops a platform that lets companies monetise their stock by selling it to stock companies financed by third-party investors. In fiscal 2024 the company reported very low revenue and repeated losses, and material uncertainty about going concern remains, which makes the progress of its funding critical for investors and the public.
SWOT
Strengths
- The company has developed a detailed methodology for analysing stock at SKU level, which differentiates its services from generic providers.
- Its proprietary data platform enables continuous stock monitoring and reporting to funders, providing transparency for institutional investors.
- The first transactions funded by an institutional investor show that the model has attracted some confidence in the market.
Weaknesses
- Revenue is very low, and the company has reported losses for several consecutive years, indicating reliance on external funding.
- The pipeline is concentrated on a few clients in Italy, and a significant part of its value depends on a small number of companies.
- Funding commitments from the majority shareholder have not materialised, and staff turnover has increased because of funding delays.
Opportunities
- If interest from Italian banks in stock-backed financing grows, white-label partnerships could significantly expand activity.
- Replicating the secured bond structure for other transactions could allow the company to monetise more of its pipeline.
- A partnership with a micro-transponder identification company could strengthen stock monitoring and create new use cases.
Threats
- If funding delays continue, the company could run short of the resources needed to continue operating.
- Bank agreements may be postponed or abandoned because of ownership changes or strategic shifts at partners, as happened with announced projects.
- The digital asset and tokenisation market is still unregulated, and the costs of launching new products could remain high.
Risks
- Uncertainty about going concernhigh
The board has identified material uncertainties about the going concern assumption, given repeated losses and reliance on external funding.
- Delays in funding from the majority shareholderhigh
The top-up funding tranche was not received, forcing the company to seek alternative funding, including through new agreements.
- Client concentrationhigh
Three clients account for almost all of the pipeline value, so delay or withdrawal by a single client could seriously affect future revenue.
- Dependence on banking partnersmedium
White-label and Italian bank projects have been put on hold or are under review because of contractual conditions and ownership changes at partners.
- Dilution through conversion of fundingmedium
The funding agreement with a third-party company is convertible into shares and, after full conversion, could give that company a controlling interest in the group.
Investment thesis
What would need to be true (bull case)
- If transactions funded through secured bonds expand and the pipeline converts into real volumes, the company could reach more predictable and larger revenue.
- Institutional investor interest in stock as an asset class and favourable regulation in Italy could open new markets for the model.
- The data platform and stock analysis methodology could become a competitive advantage if the company manages to use them at greater scale.
What would break the thesis
- Revenue remains minimal and operating losses have continued for several years, which could mean the model cannot be sustained without ongoing external funding.
- Concentration of the pipeline on a few Italian clients makes results vulnerable to delays or withdrawals by a single partner.
- Unfulfilled funding commitments and delays in bank projects show that growth plans may take longer than originally estimated.
What to watch
- Development of the client pipeline and whether it converts into completed transactionsQ1 2027
- Status of funding from the new corporate funder and conversion of that funding into shares2027
- Resumption or abandonment of the white-label projects and of the Italian banking group dealnext 10-K
- Conclusions on going concern in the next financial reportnext 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
Supply@ME offers Inventory Monetisation (IM) services, in which a client company sells its stock to a stock company, while third-party investors provide the funding. The company handles due diligence on the client and the eligible stock, originates the contracts, and then monitors and reports through its own software platform, offered as SaaS. Revenue for fiscal 2024 was only £129,000 1, and an adjusted operating loss of £2.3 million 1 shows the difficulty of turning funding opportunities into actual transactions.
The business model is divided into several inventory categories: generic goods (finished products bought and resold), made-to-order goods, maturing goods such as cheese or wine, and products manufactured from raw materials. Each category requires different analytical methodologies, which the company says is why 'one size does not fit all' 1.
The company organises its activity into three main lines: open market IM transactions originated from its own pipeline and funded by third-party investors; white-label services, through which banking partners can use the platform under their own brand; and work on digital assets and tokenisation, which is still at an early stage 1.
Segments
Open market IM transactions
This is the only segment currently generating real activity. The company originates transactions from its own pipeline, with funding from third-party stock companies. The first transactions were made through secured bonds issued by a stock company in the SFE group, but the volume monetised remains small, at £4.5 million 1.
White-label services
This segment targets banking partners who could use the monetisation product under their own brand. The first agreement, with BBPM, has not yet materialised, and the initial transaction under discussion is under review because of its original maturity date and the requirement for a specific remarketer for each transaction 1.
Market context
The target market is stock-based financing for small and medium enterprises, particularly in agri-food supply chains. The company describes institutional investor interest in inventory as an asset class as an important element of its thesis. The client pipeline reported at 30 September 2025 is £87.3 million, but all clients in this pipeline are Italian companies, and concentration is high, since three clients account for approximately 95% of the total 1.
Competitive position
The available sources do not name direct competitors with market shares; instead, competition is described in terms of the willingness of banks and stock companies to accept the model. One obstacle mentioned is that in the BBPM project, competitors acting as remarketers for one another were difficult to agree 1.
The company differentiates itself through expertise in analysing stock at SKU level, its data platform, and continuous monitoring using key performance and risk indicators. A partnership with a micro-transponder identification company aims to strengthen this position 1.
- Stock companies and institutions providing stock-based financing
The source does not name competitors; only partner entities or potential funders are mentioned, with no information on market share.
- Goods remarketers
Their role in taking over unsold stock is a requirement that complicated negotiations with banking partners; they are not named in the source.
- Other stock financing institutions in Italy
The company refers to the interest of third-party funders in Italy in similar structures; no information on their size is given.
- Stock tracking technology providers
They may appear as alternatives for stock monitoring, though none are named in the source analysed.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202414 Oct 2025
- Annual report 202313 Jun 2024
Sources
- [1] Annual report, fiscal year ended 2024-12-31 (ESEF) · SEC / Supply@ME Capital Plc · 31 Dec 2024
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.