olivLaw · European equity research
Pineapple Power Corporation PLC PNPL.L
United Kingdom · London Stock Exchange · ISIN GB00BD0SN947 · Vertical: Listed companies from United Kingdom
Pineapple Power Corporation PLC is an acquisition vehicle registered in England whose only stated purpose is to identify companies, businesses or assets suitable for acquisition. No asset was acquired during fiscal 2024, and the company reported a loss before taxation of £356,589, down from £510,417 in 2023, which makes it a useful case for investors watching how acquisition shells manage costs while waiting for a deal.
At the close of 05 Nov 2026, Pineapple Power Corporation PLC (PNPL.L) stock was 0.01 GBP (+0.00% on the day), with beta -2.39, 52-week range 0.00–0.03 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)
- 48.1
- neutral
- Bollinger (20, 2)
- -0.01 – 0.03
- in the lower half of the band · %B 0.39 · band width 367.0%
- SMA 50 / 200
- 0.00 / 0.00
- uptrend (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 | unavailable | −4.2% | unavailable | — |
| 6 months | unavailable | +4.3% | unavailable | — |
| Year to date | unavailable | +7.5% | unavailable | — |
| 1 year | unavailable | +9.9% | unavailable | +5.8% |
| 3 years | unavailable | +49.8% | unavailable | +26.3% |
| 5 years | unavailable | +42.8% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
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 | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 0 | 0 | 0 |
| Revenue YoY | unavailable | unavailable | unavailable |
| Net income | -510.4 k | -356.6 k | -214.7 k |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | unavailable |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 61 GBP
- Financial debt
- 54.3 k GBP
- Net debt
- 54.2 k GBP
- Equity
- -427.7 k GBP
- Total assets
- 6.7 k GBP
- Debt / equity
- unavailable
- Current ratio
- 0.02x
- ROE
- unavailable
- ROA
- -1,570.6%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (GBP)
Income statement · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | esef· 28 Oct 2026verified |
| Operating income | -510.4 k | -358.3 k | -214.8 k | esef· 28 Oct 2026verified |
| Pre-tax income | -510.4 k | -356.6 k | -214.7 k | esef· 28 Oct 2026verified |
| Income tax | 0 | 0 | 0 | esef· 28 Oct 2026verified |
| Net income | -510.4 k | -356.6 k | -214.7 k | esef· 28 Oct 2026verified |
Balance sheet · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 189.5 k | 20.0 k | 61 | esef· 28 Oct 2026verified |
| Receivables | — | 625 | 6.7 k | esef· 28 Oct 2026verified |
| Current assets | 195.7 k | 20.6 k | 6.7 k | esef· 28 Oct 2026verified |
| Property, plant & equipment, net | 51 | 0 | — | esef· 23 Sept 2025verified |
| Total assets | 195.7 k | 20.6 k | 6.7 k | esef· 28 Oct 2026verified |
| Accounts payable | 52.1 k | 221.1 k | 380.1 k | esef· 28 Oct 2026verified |
| Short-term debt | 0 | 12.5 k | 54.3 k | esef· 28 Oct 2026verified |
| Current liabilities | — | 233.6 k | 434.4 k | esef· 28 Oct 2026verified |
| Total liabilities | 52.1 k | 233.6 k | 434.4 k | esef· 28 Oct 2026verified |
| Equity | 143.6 k | -213.0 k | -427.7 k | esef· 28 Oct 2026verified |
Cash flow · GBP
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: 1 of at least 6
- score weight coverage: 4.2% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
4% · 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: 1 of at least 6; score weight coverage: 4.2% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| 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 | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.0x | 0 (on a fixed band) | 100% |
| 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 sheet· partial0/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partialunavailable · 0/3 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
PINEAPPLE POWER CORPORATION PLC (PNPL.L). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 0 GBP in 2025.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 1 of at least 6; score weight coverage: 4.2% 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
- Current ratio: 0.0x
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, 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 PNPL.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
Pineapple Power Corporation PLC is an acquisition vehicle registered in England whose only stated purpose is to identify companies, businesses or assets suitable for acquisition. No asset was acquired during fiscal 2024, and the company reported a loss before taxation of £356,589, down from £510,417 in 2023, which makes it a useful case for investors watching how acquisition shells manage costs while waiting for a deal.
SWOT
Strengths
- The directors' experience in financial services, restructuring and international transactions is a stated asset of the company.
- A simple governance structure and modest administrative costs may limit operating expenses during the search period.
- The company holds resources from earlier placings that could be applied to an acquisition once one is identified.
Weaknesses
- The company generates no operating revenue and has no customers, making it dependent on external funding.
- Directors are not obliged to commit their full time, and governance committees are limited.
- No acquisition was completed during fiscal 2024, and annual losses continue to be reported.
Opportunities
- If a suitable target is identified, an acquisition could transform the company into an entity with operating activity.
- Favourable financing conditions could allow an acquisition to be completed on better terms for shareholders.
- Expanding the board and governance policies could strengthen investor confidence.
Threats
- Transaction costs may remain with the company if an acquisition is abandoned.
- Failure to find a suitable acquisition could prevent the company from reaching its strategic objectives.
- Dependence on external advisors and additional financing may create significant vulnerabilities.
Risks
- Lack of suitable opportunitieshigh
If the directors do not identify a suitable target, the company may be unable to fulfil its objectives.
- Uncertain additional financinghigh
The company gives no guarantee that it can obtain the financing needed to complete an acquisition or support its activity afterwards.
- Abandoned transaction costsmedium
If an identified acquisition is abandoned, the company may be left with substantial transaction costs.
- Directors' conflicts of interestmedium
Directors divide their time among other activities, which may affect the effort devoted to the company.
- Reliance on external advisorslow
If contracted advisors fail to perform, identification and assessment of acquisitions could be compromised.
Investment thesis
What would need to be true (bull case)
- If the directors identify a suitable target at a reasonable price, the company could move from a shell without activity to an entity with operating income.
- Funds remaining from earlier placings could finance an acquisition without relying entirely on new capital.
- Modest administrative costs mean a successful acquisition could have a relatively large effect on the company's overall structure.
What would break the thesis
- The company has no revenue and continues to report annual losses, which could erode available resources before an acquisition is completed.
- If no target is found, operating costs could continue without a concrete outcome for shareholders.
- Dependence on directors who do not commit their full time and on external advisors could delay or prevent the acquisition process.
What to watch
- Announcement of an acquisition or an identified target2025
- Trend in the loss before taxation compared with fiscal 20242025
- Any new placings or additional sources of financing2025
- Changes to board composition and governance policiesnext annual report
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
The company's main objective, according to the strategic report for the year ended 31 December 2024, is to identify companies, businesses or assets for acquisition. It has not started a business activity, has no customers and no employees other than its directors, who are treated as key management personnel. The filings state that net proceeds from placings in December 2020, July 2022 and March 2023 were to be used for an acquisition, but no acquisition was completed during 2024.
The governance structure is modest: the board consists of two non-executive directors and has no separate audit, remuneration or nominations committees, with all such matters handled by the board as a whole. The company has decided not to apply the UK Corporate Governance Code, citing its current size and limited resources, and says it intends to expand board membership and governance policies as it evolves.
Financially, the model depends on the directors' ability to identify and complete a suitable acquisition, since the company generates no operating revenue of its own. The report notes that funding for an acquisition may need to come from additional financing, and that costs of an aborted transaction could remain with the company.
Segments
Acquisition identification and evaluation
The company's only stated activity is identifying and evaluating potential companies or assets for acquisition, with the support of external advisors. There is no revenue-generating operating segment yet, and the objective remains dependent on finding a suitable target.
Administration and corporate costs
Expenses relate mainly to director remuneration, advisors and compliance costs for a listed company. The reported annual loss reflects these costs, with no offsetting operating income.
Market context
The company does not operate in a product or service market; instead it competes in the market for acquisitions of small and mid-sized companies, where it seeks transactions alongside other acquisition vehicles. The report does not provide data on the size of this market, so no estimates can be made from the available sources.
The company's prospects depend on the availability of acquisition opportunities at reasonable prices and on its ability to obtain additional financing on acceptable terms. If no suitable target is identified, its strategic objectives could remain unmet.
Trends
- Pending transaction costsheadwind
The report warns that if an identified acquisition is abandoned, the company may be left with substantial transaction costs, which could weigh on its financial result.
- Directors' time commitmentheadwind
Directors are not obliged to commit their whole time to the company, which may create conflicts of interest in deciding how much time to devote to its affairs.
- Access to additional financingmixed
If additional financing becomes available on favourable terms, the company could complete an acquisition on better conditions, although the report states there is no guarantee of this.
- Reliance on external advisorsheadwind
The company relies on external advisors to identify and assess acquisitions, and if these cannot be contracted or fail to perform, the acquisition process could be delayed.
Competitive position
The report does not identify direct competitors or describe a competitive landscape. The company defines its objective as finding assets and companies to acquire, which places it in competition with other acquisition vehicles and investors pursuing the same transactions.
The company's stated advantage is the experience of its directors in financial services, restructuring and mergers and acquisitions, but the sources do not provide data on its position relative to competitors in the market.
- Other London-listed acquisition shells
The source does not name specific competitors; it refers only to the general category of acquisition vehicles pursuing similar transactions.
- Private investors and private equity funds
The report names no individual investors, but investors seeking similar assets may compete for the same acquisition opportunities.
- Target companies with direct funding access
Target businesses that can raise capital directly may reduce the appeal of an acquisition by a company without operating revenue.
- Transaction advisors
External advisors are essential to identifying and evaluating targets, but they may also compete for the same opportunities through their own networks.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202528 Oct 2026
- Annual report 202423 Sept 2025
Sources
- [1] Annual report, fiscal year ended 2024-12-31 (ESEF) · SEC / Pineapple Power Corporation 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.