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PipeHawk plc (PIP) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of PipeHawk plc £0.03, price £0.02, upside +51.1%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Technology · GB · ISIN GB0003010609

PP Thin data Sep 23, 2026

PipeHawk plc

PIP · LSE

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value £0.0287 · Strongly undervalued (+51%)
!Quality 51/100
!Weak Growth (revenue 5y −14.8 %/yr)
!Loss-making · -29.1% net margin (TTM)
✓Negative equity (buybacks among others) · generates free cash flow
!Trails peers (2/8)
!Narrow moat 10/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

£0.3650 £0.0105 Fair Value £0.0287 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range £0.0105 – £0.3650 · fair‑value band £0.0192 – £0.0401 · the £0.0190 price screens below the £0.0287 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

PipeHawk plc engages in the development, assembly, and sale of automated manufacturing units, test system, rail industry solutions, and ground probing radar (GPR) equipment in the United Kingdom, Europe and internationally.

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PipeHawk plc engages in the development, assembly, and sale of automated manufacturing units, test system, rail industry solutions, and ground probing radar (GPR) equipment in the United Kingdom, Europe and internationally. It operates through Utility Detection and Mapping Services; Development, Assembly, and Sale of GPR Equipment; and Rail Trackside Solutions segments. The company also provides GPR based services; and undertakes complementary research and development assignments. In addition, it offers site survey support to civil engineers, consulting engineers, design engineers, and planners; and produces machines, attachments, and tools for track renewal and maintenance. Further, the company is involved in research and development of GPR products and services under the Groundvue and PipeHawk brand name, as well as provision of training in GPRs techniques for both beginners and for more experienced user. Additionally, it provides technology solutions for a range of industries, such as highways, automotive, rail, aerospace, and slip test solutions. The company is also involved in specialist surveying and specialist in railway equipment. PipeHawk plc was incorporated in 2000 and is based in Cinderford, the United Kingdom.

Stock analysis

PipeHawk plc (PIP) currently trades at £0.0190, while our model-based Fair Value estimate is £0.0287, implying the stock looks roughly 33.8% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of £0.1000 per share, and 6 of the 6 models we run sit above the £0.0190 price.

Bear case: the Multiples group reads lowest at £0.0400, and 0 of the 6 models stay below the price. Evidence for this calculation is low.

Scenario range: £0.0192 (bear) to £0.0401 (bull), the price of £0.0190 sits below 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 51/100 (solid quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

PipeHawk plc reported revenue of £3.7M in FY2025 versus £6.7M in FY2021, a compound −13.4%/yr. Reported net income was −£259K in FY2025.

Key figures

Market cap 817K GBX · P/S ratio 0.29 · EPS (TTM) £−0.0200 · Net margin −6.9% · Return on assets (EBIT) −21.0% · Operating margin −31.7% · Revenue (TTM) £2.8M · Revenue growth (YoY) −45.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 42% below its 52-week high and 52% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at 51%, PIP screens cheaper than that median.

Fair Value models

Bear £0.0192 Fair Value £0.0287 Bull £0.0401
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF £0.0400 £0.1000 £0.1800 76
Growth DCF £0.0400 £0.1000 £0.1700 75
5Y Revenue Exit n/a n/a £0.0100 69
All 8 models by family
DCF Models
FCF DCF £0.0400 £0.1000 £0.1800 76
5Y Revenue Exit n/a n/a £0.0100 69
5Y EBITDA Exit £0.0100 £0.0600 £0.1200 68
10Y Revenue Exit n/a £0.0200 £0.0400 64
10Y EBITDA Exit £0.0200 £0.0700 £0.1200 64
Multiples
EV/EBITDA £0.0100 £0.0400 £0.0800 59
Growth DCF
Growth DCF £0.0400 £0.1000 £0.1700 75
Rev-Margin DCF n/a n/a £0.0200 69

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Quality Score breakdown

Overall quality 51/100

Of which business quality 50 · Market factors (momentum, volatility) 40

Profitability 50
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 1
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 41
Distance to the 52-week high (market factor)
Net Issuance 79
Share count: buybacks or dilution?

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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. 10/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−59.0%
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.
−15.4%
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.
−14.8%
Start year 2020 (pandemic). Over 10 years: −2.1% a year
Revenue growth 28 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.
+4.8%
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.
4.9% (2020) → 3.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+33.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (UK: IMF forecast 2.3% a year to 2030, 3.3% from 2016 to 2025) that is about +30.0% a year for the price.

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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.Scientific & Technical Instruments · 159 stocks

Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 51 · Below median
Fair Value upside +51% · Top 25%
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −17% · Bottom 25%
Net margin (TTM) −29% · Bottom 25%
Operating margin (TTM) −32% · Bottom 25%
Growth and dividend
Revenue growth −45% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Scientific & Technical Instruments median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 0.39× · Cheapest 25%
P/FCF 10.9× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 0
FUTURE (revenue growth)0 · sector 25
PAST (return on equity)0 · sector 24
HEALTH (low debt)0 · sector 98
DIVIDEND (yield)0 · sector 19

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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 Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate.

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Keysight Technologies, Inc KEYS $347.32 $115.39 −67%
Garmin Ltd GRMN $284.67 $304.44 +7%
Teledyne Technologies Incorporated TDY $621.05 $683.16 +10%
Chroma ATE Inc 2360 2,295 TWD 618.78 TWD −73%
MKS Inc MKSI $260.37 $201.24 −23%
AVIC Chengdu Aircraft Company 302132 ¥59.95 ¥19.61 −67%
Fortive Corporation FTV $55.95 $34.86 −38%
Trimble Inc TRMB $59.30 $29.11 −51%
Cognex Corporation CGNX $58.19 $38.50 −34%
Wuhan Guide Infrared Co 002414 ¥12.23 ¥9.52 −22%

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PipeHawk plc · Fair Value
£0.0287 +34%Fair Value
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Cite: Fair Value Calculator (2026). "PipeHawk plc Fair Value". https://www.fairvalue-calculator.com/stock/PIP

Frequently asked questions

Is PipeHawk plc (PIP) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of £0.0287 versus a price of £0.0190, about +51% upside (undervalued).
What is the fair value of PIP?
Our model-based fair value for PipeHawk plc is £0.0287 (as of Sep 23, 2026), built from audited fundamentals. The current price: £0.0190.
What is the quality score of PIP?
PipeHawk plc has a Quality Score of 51/100. 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 PipeHawk plc (PIP)?
Our model-based price target is the fair value of £0.0287 (as of Sep 23, 2026) from 8 valuation models. Cautious scenario £0.0192, optimistic scenario £0.0401. It is a calculation from audited fundamentals, not an analyst target.
What is the PipeHawk plc stock forecast for 2026?
Our models put fair value at £0.0287, about +51% upside versus a price of £0.0190 (undervalued). Cautious scenario £0.0192, optimistic scenario £0.0401. The calculation is refreshed regularly with new filings.
What is the revenue of PipeHawk plc (PIP)?
PipeHawk plc reported trailing-twelve-month revenue of about £2.8M (latest available figure, as of Sep 23, 2026).
What growth is priced into PipeHawk plc (PIP)?
For today's price to be fair in a discounted-cash-flow model, PipeHawk plc would have to grow free cash flow by +33.0 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -14.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of PIP use?
Our models discount PipeHawk plc at 9.0 %: a base by market capitalisation (nano), damped by beta 0.50, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For PipeHawk plc that is +33.0 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has PipeHawk plc (PIP) delivered so far?
Over the past 5 years revenue at PipeHawk plc grew -14.8 % a year. The price currently implies +33.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of PipeHawk plc (PIP) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into PipeHawk plc (+33.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of PipeHawk plc (PIP)?
The free-cash-flow yield on the price is 14.35 %: that much free cash flow PipeHawk plc produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of PipeHawk plc (PIP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PipeHawk plc it is £0.0287 per share (as of Sep 23, 2026), against a price of £0.0190. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is PipeHawk plc stock overvalued or undervalued in 2026?
As of Sep 23, 2026, PIP trades below its calculated fair value: price £0.0190, fair value £0.0287, a gap of about +51% (undervalued). 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 PIP?
No. The price is what the market pays today (£0.0190); the fair value is what the company's own numbers justify (£0.0287). For PipeHawk plc the two are £0.0097 per share apart. That gap is exactly why we show both numbers side by side.
How much is PipeHawk plc worth?
The market values PipeHawk plc at about 817K GBX (market capitalisation, as of Sep 23, 2026). Per share that is £0.0190; our models calculate a fair value of £0.0287 per share.
What do the bullish and bearish scenarios say about PIP?
Our models span a range for PipeHawk plc: cautious scenario £0.0192, base £0.0287, optimistic £0.0401 per share (as of Sep 23, 2026, price £0.0190). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PipeHawk plc (PIP)?
Balance-sheet figures for PipeHawk plc (as of Sep 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is PIP from its 52-week high?
PipeHawk plc trades at £0.0190, about 42% below its 52-week high of £0.0325 and 52% above the low of £0.0125 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of £0.0287 is for.
Which stocks are comparable to PipeHawk plc?
From the same area (Technology) we also value Keysight Technologies, Inc, Garmin Ltd, Teledyne Technologies Incorporated, Chroma ATE Inc, 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 PipeHawk plc stock attractive at the current price?
The data as of Sep 23, 2026: price £0.0190, calculated fair value £0.0287 (+51%), Quality Score 51/100, from 8 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PIP calculated?
We run PipeHawk plc through 8 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of £0.0287, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. PipeHawk plc currently trades 51 % below its own fair value, and the market average says nothing about that. 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 PipeHawk plc (PIP)?
The closing price on Sep 24, 2026 was £0.0190. Our model-based fair value is £0.0287, about +51% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PipeHawk plc right now?
The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (£0.0192 to £0.0401) leaves room in how you read the outcome.

Key figures of PipeHawk plc

How large is the market capitalisation of PipeHawk plc (PIP)?
The market capitalisation of PipeHawk plc is 817K GBX. 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 PipeHawk plc (PIP)?
The price-to-sales ratio of PipeHawk plc is 0.29 (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 PipeHawk plc (PIP)?
Earnings per share at PipeHawk plc are £−0.0200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of PipeHawk plc (PIP)?
The net margin of PipeHawk plc is −6.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of PipeHawk plc (PIP)?
On an EBIT basis the return on assets of PipeHawk plc is −21.0% (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 PipeHawk plc (PIP)?
The operating margin of PipeHawk plc is −31.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PipeHawk plc (PIP)?
Revenue at PipeHawk plc is growing −45.2% versus a year earlier (3y avg −15.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at PipeHawk plc (PIP)?
Earnings per share at PipeHawk plc are growing +115% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does PipeHawk plc (PIP) carry?
The net debt of PipeHawk plc is 7.0M GBX (fiscal year 2025, ≈ 71.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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