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Strix Group (KETL) Fair Value & Analysis

Technology · GB · Market cap 70.8M GBX

SG Strix Group KETL · LSE
Price£0.3595
Fair Value£0.8400
Upside+133.7%
Quality41/100
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Mixed Growth
Thin margins · 5.4% net margin
High debt · generates free cash flow
Ranks above peers (9/13)
Moderate moat 56/100
Evidence: High Range £0.6000 – £1.22 Share as image

Fair value as of: Jul 16, 2026

From 15 valuation models · updated 24 days ago

Fair value updated Jul 16, 2026, revised from £0.8500 to £0.8400 (−1.2%) since Jun 25, 2026. Share price −3.9% over the past month.

Below-average quality, screening 134% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (£0.6000). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (£0.6000 to £1.22) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

£3.60 £0.3382 Fair Value £0.8400 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range £0.3382 – £3.60 · fair‑value band £0.6000 – £1.22 · the £0.3595 price screens below the £0.8400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Strix Group (KETL) currently trades at £0.3595, while our model-based Fair Value estimate is £0.8400, implying the stock looks roughly 133.7% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Strix Group generated revenue of £141M at a net margin of 5.4%. Revenue declined 5.3% year over year. It earns a return on equity of 18.2%. Net debt stands at £68.6M. Fundamentals as of Jul 16, 2026

Our scenario range runs from £0.6000 (bear case) to £1.22 (bull case); at £0.3595, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at 134%, KETL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF £0.6400 £0.8400 £1.15 80
Rev-Margin DCF £0.4600 £0.7300 £1.08 74
ROIC Compounder £0.1200 £0.1700 £0.2100 72
All 15 models by family
DCF Models
FCF DCF £0.6200 £0.8300 £1.19 38
5Y Revenue Exit £0.4600 £0.7000 £1.07 39
5Y EBITDA Exit £0.6800 £1.07 £1.60 41
10Y Revenue Exit £0.5200 £0.7200 £0.9300 36
10Y EBITDA Exit £0.6500 £0.9200 £1.22 37
Earnings-Based
EPV £0.1200 £0.1700 £0.2100 59
Dividend Discount
Gordon GGM £0.3200 £0.3600 £0.4100 70
DDM Multi-Stage £0.3200 £0.3900 £0.4600 61
Multiples
EV/EBIT £0.6800 £1.00 £1.31 53
EV/EBITDA £0.8800 £1.27 £1.65 54
EV/Revenue £0.3700 £0.6400 £0.9200 43
Asset-Based
NCAV (Graham) £0.1100 £0.1500 £0.2300 50
Growth DCF
Growth DCF £0.6400 £0.8400 £1.15 80
Rev-Margin DCF £0.4600 £0.7300 £1.08 74
Economic Profit
ROIC Compounder £0.1200 £0.1700 £0.2100 72

Widest divergence: Multiples (£1.00) versus Asset-Based (£0.1500). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 141M GBX
Revenue growth (YoY) -5.3%
Net margin 5.4%
Return on equity 18.2%
Free cash flow 23.9M GBX FY2024
P/E ratio 10.5
More key figures
Operating margin 16.0%
EPS (TTM) £0.0400
EPS growth (YoY) -51.0%
Net debt 68.6M GBX FY2024

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 40 · Market factors (momentum, volatility) 26

Profitability 29
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 22
Balance sheet, leverage, solvency risk
Investment 47
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 48
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Strix Group Plc designs, manufactures, and supplies kettle safety controls and other components worldwide. The company offers thermostatic controls; cordless interfaces; and other products, such as water dispensers, taps, jugs, and filters.

Full company description

Strix Group Plc designs, manufactures, and supplies kettle safety controls and other components worldwide. The company offers thermostatic controls; cordless interfaces; and other products, such as water dispensers, taps, jugs, and filters. It also provides water heating and temperature control, steam management, and water filtration devices, as well as small household appliances for personal health and wellness. The company offers its products primarily under the Strix, Aqua Optima, LAICA, astrea, and Billi brands. It serves original equipment manufacturers, brands, and retailers. The company was formerly known as Steam Plc and changed its name to Strix Group Plc in July 2017. Strix Group Plc was incorporated in 2017 and is headquartered in the Isle of Man, the Isle of Man.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Strix Group reported revenue of £142M in FY2024 versus £95.3M in FY2020, a compound +10.4%/yr. Reported net income was −£1.4M in FY2024.

Growth Quality 58/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
£142M
Latest YoY
−1.4%
Avg. growth/yr (3Y) 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.
+5.9%
Avg. growth/yr (5Y) 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.
+7.9%
Avg. growth/yr (12Y) 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.
−24.5%
Revenue +10.4%/yr
FY20 £95.3M
FY21 £119M
FY22 £107M
FY23 £144M
FY24 £142M
Net income
FY20 £24.0M
FY21 £20.6M
FY22 £16.8M
FY23 £16.2M
FY24 −£1.4M
Character of growth · EPS growth decomposed (2013-2024) −21.0 % p.a.
Revenue per share −24.4 pp

of which total revenue −24.3 pp · buybacks/dilution −0.1 pp

EBIT margin +3.9 pp
Tax rate +3.6 pp
Residual (interest, one-offs) −4.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Strix Group Fair Value". https://www.fairvalue-calculator.com/stock/KETL

Peer Group

Electronic Components · 625 stocks

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.

Quality Score 41 · Bottom 25%
Fair Value upside +134% · Top 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 5% · Above median
Operating margin (TTM) 16% · Top 25%
Revenue growth -5% · Below median
Debt / equity 1.53× · Higher than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 9.0× · Cheaper than 75% of peers
P/B 2.13× · Cheaper than median
P/S (TTM) 0.68× · Cheaper than median
P/FCF 4.0× · Pricier than median
EV/EBITDA 4.6× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 0
FUTURE 0 · sector 32
PAST 73 · sector 24
HEALTH 23 · sector 95
DIVIDEND 0 · sector 25

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Strix Group (KETL) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of £0.8400 versus a price of £0.3595, about +134% (undervalued).
What is the fair value of KETL?
Our model-based fair value for Strix Group is £0.8400 (as of Jul 16, 2026), built from audited fundamentals. The current price is £0.3595.
What is the quality score of KETL?
Strix Group has a Quality Score of 41/100. 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 revenue of Strix Group (KETL)?
Strix Group reported trailing-twelve-month revenue of about £141M (latest available figure, as of Jul 16, 2026).
What is the net profit margin of KETL?
The net profit margin of Strix Group is about 5.4%, meaning it keeps roughly 5.4% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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