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Ilika plc (IKA) fair value: what the stock is really worth

As of Nov 11, 2026: fair value (intrinsic value) of Ilika plc stock £0.10, price £0.20, that is 49.1% below the price, quality 38 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Industrials GB · ISIN GB00B608Z994

IP Ilika plc logo Thin data Nov 10, 2026

Ilika plc

IKA · LSE

Far too expensive (fair value 49% below the price), weak company and falling price: meets none of the 3 rules.

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Low debt 
Fair value £0.0992 · Strongly overvalued 
Quality 38/100 
Falling price (downtrend) 
Weak Growth (revenue 5y −13.3 %/yr in GBP) 
Negative free cash flow 
Trails peers (2/8) 
Narrow moat 9/100 · thin data
Thin data 
Estimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

£1.94 £0.1475 Fair Value £0.0992 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range £0.1475 – £1.94 · fair‑value band £0.0744 – £0.1240 · the £0.1950 price screens above the £0.0992 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Ilika plc engages in designing, production, and development of solid state batteries in the United Kingdom, Asia, Europe, and North America. The company offers solid state batteries for transportation under the Goliath name for electric vehicles and cordless consumer electronics.

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It also provides solid state batteries for healthcare under the Stereax name for neurostimulation, cardiac sensing, smart orthopaedics, smart orthodontics, smart contact lenses, and industrial IoT sensors. Ilika plc was founded in 2004 and is headquartered in Romsey, the United Kingdom.

Stock analysis

Ilika plc (IKA) currently trades at £0.1950, while our estimate is £0.0992, 49% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: £0.0744 (bear) to £0.1240 (bull), the price of £0.1950 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 38/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Ilika plc reported revenue of £113K in FY2026 versus £30.9K in FY2022, a compound +38.2%/yr. Reported net income was −£7.2M in FY2026.

Key figures

Market cap £40.1M Micro · P/S ratio 42.1 · EPS (TTM) £−0.0400 · Return on equity −45.8% · Return on assets (EBIT) −37.3% (5-year average) · Operating margin −951% · Revenue growth (YoY) +564% · Free cash flow −£5.4M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (low confidence).

What moves the price

The share trades about 58% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −17% fair-value upside, at −49%, IKA screens richer than that median.

Fair Value

Bear £0.0744 Fair Value £0.0992 Bull £0.1240
Price £0.1950 · Downside -49.1%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 38/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 50
Are margins and returns getting better?
Cashflow 3
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 13
How calm the share price moves, does not count
Price momentum 9
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 18
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+53.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+49.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−13.3%
Start year 2021 (pandemic). Over 10 years: −15.5% a year
Revenue growth 19 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−10.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−2,545.6% (2021) → −8,771.6% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

IKA screens overvalued: fair value 49% below the price. Compare with Contemporary Amperex Technology Co →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electrical Equipment & Parts · 588 stocks

Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside −49.1% · Below median
Profitability
Return on assets −43.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 564.0% · Top 25%
Balance sheet
Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper

P/B 2.78× · Pricier than median
P/S (12 months) 37.72× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 67
PAST (return on equity)0 · sector 25
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)0 · sector 23

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Contemporary Amperex Technology Co 300750 ¥246.66 ¥648.35 +163% vs IKA
Sungrow Power Supply Co 300274 ¥80.09 ¥182.32 +128% vs IKA
NARI Technology Co 600406 ¥23.10 ¥29.39 +27% vs IKA
Vertiv Holdings VRT $206.51 $178.64 −14% vs IKA
Samsung SDI Co 006400 478,500 KRW 395,019 KRW −17% vs IKA
Legrand SA LR €138.60 €82.49 −40% vs IKA
Prysmian S.p.A PRY €111.80 €64.29 −43% vs IKA
ABB Ltd ABBN CHF 70.70 CHF 29.81 −58% vs IKA
Delta Electronics (Thailand) Public Company DELTA 194.50 THB 39.14 THB −80% vs IKA
LG Energy Solution, Ltd 373220 335,500 KRW 53,325 KRW −84% vs IKA

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Ilika plc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Ilika plc Fair Value". https://www.fairvalue-calculator.com/stock/IKA

Frequently asked questions

Is Ilika plc (IKA) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is £0.0992 versus a price of £0.1950, about 49% lower (overvalued).
What is the fair value of IKA?
Our estimate for Ilika plc is £0.0992 (as of Nov 10, 2026), built from audited fundamentals. The current price: £0.1950.
What is the quality score of IKA?
Ilika plc has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ilika plc (IKA)?
Our calculated price target is the estimate of £0.0992 (as of Nov 10, 2026). Cautious scenario £0.0744, optimistic scenario £0.1240. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Ilika plc stock forecast for 2026?
Our estimate puts fair value at £0.0992, about 49% lower versus a price of £0.1950 (overvalued). Cautious scenario £0.0744, optimistic scenario £0.1240. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Ilika plc (IKA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ilika plc it is £0.0992 per share (as of Nov 10, 2026), against a price of £0.1950.
Is Ilika plc stock overvalued or undervalued in 2026?
As of Nov 10, 2026, IKA trades above its calculated fair value: price £0.1950, fair value £0.0992, a gap of about −49% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IKA?
No. The price is what the market pays today (£0.1950); the fair value is what the company's own numbers justify (£0.0992). For Ilika plc the two are £0.0958 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ilika plc worth?
The market values Ilika plc at about £40.1M (market capitalisation, as of Nov 10, 2026). Per share that is £0.1950; our models calculate a fair value of £0.0992 per share.
What do the bullish and bearish scenarios say about IKA?
Our models span a range for Ilika plc: cautious scenario £0.0744, base £0.0992, optimistic £0.1240 per share (as of Nov 10, 2026, price £0.1950). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ilika plc (IKA)?
Balance-sheet figures for Ilika plc (as of Nov 10, 2026): return on equity −45.8%, debt of 0.00 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is IKA from its 52-week high?
Ilika plc trades at £0.1950, about 58% below its 52-week high of £0.4600 and 4% above the low of £0.1875 (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of £0.0992 is for.
Which stocks are comparable to Ilika plc?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Delta Electronics (Thailand) Public Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ilika plc stock attractive at the current price?
The data as of Nov 10, 2026: price £0.1950, calculated fair value £0.0992 (−49%), Quality Score 38/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0% above its aggregate fair value. Ilika plc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ilika plc (IKA)?
The closing price on Nov 11, 2026 was £0.1950. Our estimate is £0.0992, about 49% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ilika plc right now?
The price sits above even our optimistic bull case (£0.1240). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Ilika plc

How large is the market capitalisation of Ilika plc (IKA)?
The market capitalisation of Ilika plc is £40.1M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ilika plc (IKA)?
The price-to-sales ratio of Ilika plc is 42.1 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ilika plc (IKA)?
Earnings per share at Ilika plc are £−0.0400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Ilika plc (IKA)?
The return on equity (ROE) of Ilika plc is −45.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ilika plc (IKA)?
On an EBIT basis the return on assets of Ilika plc is −37.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ilika plc (IKA)?
The operating margin of Ilika plc is −951% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ilika plc (IKA)?
Revenue at Ilika plc is growing +564% versus a year earlier (3y avg +49.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Ilika plc (IKA) generate?
The free cash flow of Ilika plc is −£5.4M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Ilika plc (IKA) hold?
Ilika plc holds more cash than debt, £4.3M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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