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RC Fornax Plc, a veteran-founded UK consultancy, (RCFX) Fair Value & Analysis

Industrials · GB · Market cap 6.6M GBX

RF RC Fornax Plc, a veteran-founded UK consultancy, RCFX · LSE
Price£0.0700
Fair Value£0.0350
Upside-50.0%
Quality27/100
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Expensive Growth
Loss-making · -106.6% net margin
negative free cash flow
Trails peers (0/9)
Narrow moat 10/100
Evidence: Low Range £0.0280 – £0.0350 Share as image

Fair value as of: Jul 14, 2026

From 3 valuation models · updated 27 days ago

Fair value updated Jul 14, 2026, revised from £0.0358 to £0.0350 (−2.3%) since Jun 26, 2026. Share price −12.3% over the past month.

Below-average quality, and screening another 50% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (£0.0350). The favourable scenario is already priced in.
  • Weak quality (27/100) 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.
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Price vs Fair Value (18 months)

£0.6479 £0.0665 Fair Value £0.0350 Feb 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

18‑month range £0.0665 – £0.6479 · fair‑value band £0.0280 – £0.0350 · the £0.0700 price screens above the £0.0350 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

RC Fornax Plc, a veteran-founded UK consultancy, (RCFX) currently trades at £0.0700, while our model-based Fair Value estimate is £0.0350, implying the stock looks roughly 50.0% overvalued today. The Quality Score stands at 27/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, RC Fornax Plc, a veteran-founded UK consultancy, generated revenue of £4.1M at a net margin of -34.0%. Fundamentals as of Jul 14, 2026

Our scenario range runs from £0.0280 (bear case) to £0.0350 (bull case); at £0.0700, the current price sits above 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 Industrials peers we cover trades at -15% fair-value upside, at -50%, RCFX screens richer 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
Gordon GGM £0.0100 £0.0100 £0.0100 70
DDM Multi-Stage £0.0100 £0.0100 £0.0200 61
NCAV (Graham) £0.0100 £0.0100 £0.0200 50
All 3 models by family
Dividend Discount
Gordon GGM £0.0100 £0.0100 £0.0100 70
DDM Multi-Stage £0.0100 £0.0100 £0.0200 61
Asset-Based
NCAV (Graham) £0.0100 £0.0100 £0.0200 50

Widest divergence: Dividend Discount (£0.0100) versus Dividend Discount (£0.0100). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) 2.4M GBX
Revenue growth (YoY) -42.5%
Net margin -107%
Return on equity -76.3%
Free cash flow −2.7M GBX FY2025
Operating margin -43.5%
More key figures
EPS (TTM) £-0.0500

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 27/100

Of which business quality 35 · Market factors (momentum, volatility) 3

Profitability 28
Margins and returns on capital today
Quality Growth 10
Are margins and returns improving?
Cashflow 17
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 7
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 65
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

RC Fornax Plc, a veteran-founded UK consultancy, provides integrity solutions that support mission-critical programmes across land, sea, and air domains in the United Kingdom. The company offers electrical, mechanical, system, and software engineering, as well as technological and innovation, operational analysis, and project management solutions.

Full company description

RC Fornax Plc, a veteran-founded UK consultancy, provides integrity solutions that support mission-critical programmes across land, sea, and air domains in the United Kingdom. The company offers electrical, mechanical, system, and software engineering, as well as technological and innovation, operational analysis, and project management solutions. It also delivers bespoke, outcome-driven services across critical defence platforms, including fighter aircraft, naval vessels, drones and military vehicles. The company was incorporated in 2020 and is based in Bristol, the United Kingdom.

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

RC Fornax Plc, a veteran-founded UK consultancy, reported revenue of £4.1M in FY2025 versus £1.6M in FY2022, a compound +35.2%/yr. Reported net income was −£1.4M in FY2025.

Growth Quality 32/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
£4.1M
Latest YoY
−36.8%
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.
+35.2%
Revenue +35.2%/yr
FY22 £1.6M
FY23 £4.2M
FY24 £6.4M
FY25 £4.1M
Net income
FY22 £287K
FY23 £361K
FY24 £519K
FY25 −£1.4M

RCFX screens 50% overvalued. Compare with Verisk Analytics, Inc →

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Cite: Fair Value Calculator (2026). "RC Fornax Plc, a veteran-founded UK consultancy, Fair Value". https://www.fairvalue-calculator.com/stock/RCFX

Peer Group

Consulting Services · 82 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 27 · Bottom 25%
Fair Value upside −43% · Bottom 25%
Return on assets -33% · Bottom 25%
Net margin (TTM) -107% · Bottom 25%
Operating margin (TTM) -43% · Bottom 25%
Revenue growth -43% · Bottom 25%

Valuation Multiples vs Consulting Services median · lower = cheaper

P/B 4.79× · Pricier than 75% of peers
P/S (TTM) 3.67× · Pricier than 75% of peers

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 Consulting Services stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

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Equifax Inc EFX $177.08 $101.34 -43%
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ALS Limited ALQ A$21.96 A$11.02 -50%
Booz Allen Hamilton Holding BAH $63.94 $120.62 +89%
DKSH Holding DKSH CHF 67.60 CHF 64.81 -4%
FTI Consulting, Inc FCN $156.86 $171.64 +9%
Centre Testing International Group 300012 ¥14.06 ¥11.90 -15%
GRG Metrology & Test Group 002967 ¥16.56 ¥11.69 -29%

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Frequently asked questions

Is RC Fornax Plc, a veteran-founded UK consultancy, (RCFX) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of £0.0350 versus a price of £0.0700, about −50% (overvalued).
What is the fair value of RCFX?
Our model-based fair value for RC Fornax Plc, a veteran-founded UK consultancy, is £0.0350 (as of Jul 14, 2026), built from audited fundamentals. The current price is £0.0700.
What is the quality score of RCFX?
RC Fornax Plc, a veteran-founded UK consultancy, has a Quality Score of 27/100. 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 RC Fornax Plc, a veteran-founded UK consultancy, (RCFX)?
RC Fornax Plc, a veteran-founded UK consultancy, reported trailing-twelve-month revenue of about £4.1M (latest available figure, as of Jul 14, 2026).
What is the net profit margin of RCFX?
The net profit margin of RC Fornax Plc, a veteran-founded UK consultancy, is about -34.0%, meaning it is currently running at a net loss. 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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