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Solid State Plc (SOLI) Fair Value & Analysis

Technology · GB · Market cap 111M GBX · ISIN GB0008237132

What is Solid State Plc really worth?

SS Solid State Plc SOLI · LSE
Price£1.90
Fair Value£2.02
Upside+6.6%
Quality69/100

A solid business, currently priced close to our fair value of £2.02.

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Strengths

Low debt · generates free cash flow
Ranks above peers (10/14)

Risks

!Mixed Growth (revenue 5y +18.4 %/yr)
!Thin margins · 2.7% net margin
!Narrow moat 37/100
!Weak on past: 26 out of 100
!Weak on dividend: 27 out of 100

For context

·1.48% dividend yield
Evidence: High Range £1.31 – £2.52

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 20 days ago

Fair value updated Aug 13, 2026, revised from £1.44 to £2.02 (+40.3%) since Jul 19, 2026. Share price −1.3% over the past month.

What runs behind every stock

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

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (£1.31 to £2.52) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

£2.96 £1.15 Fair Value £2.02 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range £1.15 – £2.96 · fair‑value band £1.31 – £2.52 · the £1.90 price screens below the £2.02 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Solid State Plc (SOLI) currently trades at £1.90, while our model-based Fair Value estimate is £2.02, implying the stock looks roughly 6.2% fairly valued today. The Quality Score stands at 69/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of £2.34 per share, and 15 of the 24 models we run sit above the £1.90 price. Bear case: the Economic Profit group reads lowest at £0.7400, and 9 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Solid State Plc generated revenue of £149M at a net margin of 1.6%. Revenue grew 38.7% year over year. It earns a return on equity of 3.9%. Net debt stands at £9.5M. Fundamentals as of Aug 13, 2026

Our scenario range runs from £1.31 (bear case) to £2.52 (bull case); at £1.90, the current price sits within 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 −61% fair-value upside, at 7%, SOLI screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly £0.0178 per share, which is 0.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF £1.36 £2.24 £4.16 77
Growth DCF £1.30 £2.27 £3.54 77
Residual Income £0.8000 £0.8000 £0.7300 76
All 24 models by family
DCF Models
FCF DCF £1.36 £2.24 £4.16 77
Owner Earnings £1.29 £2.35 £4.05 74
5Y Revenue Exit £1.21 £2.24 £3.68 70
5Y EBITDA Exit £2.32 £4.70 £7.89 72
5Y P/E Exit £1.34 £2.53 £3.97 69
10Y Revenue Exit £1.21 £2.14 £3.68 64
10Y EBITDA Exit £1.89 £3.76 £6.92 65
10Y P/E Exit £1.32 £2.34 £3.90 62
Earnings-Based
Graham-Dodd £0.4900 £2.90 £4.04 63
Lynch FV £0.8200 £1.18 £1.53 61
PEG = 1.0 £0.8200 £1.18 £1.53 57
EPV £0.6500 £0.7400 £0.8100 74
Multiples
P/E Multiple £1.51 £2.02 £2.52 63
P/S Multiple £0.9200 £1.23 £1.53 58
P/B Multiple £0.9200 £1.23 £1.53 55
EV/EBIT £2.30 £3.09 £3.88 66
EV/EBITDA £3.16 £4.23 £5.30 67
EV/Revenue £1.13 £1.64 £2.16 53
Asset-Based
NCAV (Graham) £0.5600 £0.7500 £1.12 54
Growth DCF
Growth DCF £1.30 £2.27 £3.54 77
Rev-Margin DCF £1.21 £2.20 £3.59 71
Economic Profit
Residual Income £0.8000 £0.8000 £0.7300 76
ROIC Compounder £0.6500 £0.7400 £0.8100 72
Growth Earnings
Growth-Adj P/E £1.39 £1.99 £2.59 67

Widest divergence: DCF Models (£2.34) versus Economic Profit (£0.7400). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 27.1
P/S ratio 0.72 P/E × margin
EPS (TTM) £0.0700 price ÷ EPS = P/E 27.1
Dividend yield 1.5% payout 40.0%
Net margin 2.7% FY2026
Return on equity 6.6% TTM
More key figures
Profitability
Return on assets (EBIT) 6.9% avg 5y
Operating margin 4.4% TTM
Growth
Revenue (TTM) £154M TTM
Revenue growth (YoY) +8.2% 3y avg +6.8%
EPS growth (YoY) +194%
Balance sheet & cash flow
Free cash flow 7.8M GBX FY2026
Net debt 9.5M GBX FY2026 · ≈ 1.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 68 · Market factors (momentum, volatility) 59

Profitability 54
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 66
Distance to the 52-week high (market factor)
Net Issuance 68
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Solid State plc, together with its subsidiaries, designs, manufactures, distributes and supplies electronic equipment in the United Kingdom, rest of Europe, Asia, North America, and Internationally. The company operates through Components and Systems divisions.

Full company description

Solid State plc, together with its subsidiaries, designs, manufactures, distributes and supplies electronic equipment in the United Kingdom, rest of Europe, Asia, North America, and Internationally. The company operates through Components and Systems divisions. The Components division provides own brand manufactured and franchised components; and value-added services, including sourcing and obsolescence management. This division also designs-in technical solutions for customers seeking cutting edge, electronic, opto-electronic, electro-mechanical components, and displays. The Systems division offers systems solutions, which include industrial computing and vision systems; custom battery packs providing portable power; energy storage solutions; and advanced communication systems, encompassing wideband antennas and radio products. It also supplies electronic components and materials; and designs and manufactures digital images, as well as provides engineering consultation services, and ferrite and magnetic components and solutions. It serves industrial, defense and security, medical, energy, autonomous systems, and transportation industries. The company was formerly known as Solid State Supplies plc and changed its name to Solid State plc in May 2006. Solid State plc was incorporated in 1963 and is headquartered in Redditch, the United Kingdom.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Solid State Plc reported revenue of £154M in FY2026 versus £85.0M in FY2022, a compound +16.0%/yr. Reported net income was £4.1M in FY2026, compounding +12.8%/yr from FY2022.

Growth Quality 85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
£154M
Latest YoY
+23.3%
Avg. revenue 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.
+6.8%
Avg. revenue 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.
+18.4%
Avg. revenue growth/yr (32Y) 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.
+13.4%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+7.9% (6.4 + 1.5)
Revenue +16.0%/yr
FY22 £85.0M
FY23 £127M
FY24 £163M
FY25 £125M
FY26 £154M
Net income +12.8%/yr
FY22 £2.5M
FY23 £6.7M
FY24 £8.9M
FY25 £512K
FY26 £4.1M
Character of growth · EPS growth decomposed (2015-2026) +1.2 % p.a.
Revenue per share +11.6 %

of which total revenue +15.5 % · buybacks/dilution −3.4 %

EBIT margin −5.4 %
Tax rate −2.7 %
Residual (interest, one-offs) −1.5 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Solid State Plc Fair Value". https://www.fairvalue-calculator.com/stock/SOLI

Peer Group

Electronic Components · 650 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 69 · Top 25%
Fair Value upside +7% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth 8% · Above median
Dividend yield (TTM) 1.5% · Above median
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 27.1× · Cheaper than median
P/B 2.36× · Cheaper than median
P/S (TTM) 0.97× · Cheaper than median
P/FCF 19.0× · Pricier than 75% of peers
EV/EBITDA 13.9× · Cheaper than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE42 · sector 0
FUTURE41 · sector 40
PAST26 · sector 25
HEALTH92 · sector 95
DIVIDEND27 · 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

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Amphenol Corporation APH $157.74 $97.19 −38%
Corning Incorporated GLW CHF 134.64 CHF 35.18 −74%
Delta Electronics, Inc 2308 1,750 TWD 602.37 TWD −66%
Hon Hai Precision Industry Co 2317 270.00 TWD 358.24 TWD +33%
Luxshare Precision Industry Co 002475 ¥56.06 ¥38.44 −31%
Samsung Electro-Mechanics Co 009150 1,503,000 KRW 172,954 KRW −88%
Suzhou Dongshan Precision Manufacturing Co 002384 ¥202.11 ¥21.19 −90%
TE Connectivity plc TEL $202.66 $144.42 −29%
Shengyi Technology Co 600183 ¥132.80 ¥36.30 −73%
Flex Ltd FLEX $124.53 $48.10 −61%

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Frequently asked questions

Is Solid State Plc (SOLI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of £2.02 versus a price of £1.90, about +7% upside (fairly valued).
What is the fair value of SOLI?
Our model-based fair value for Solid State Plc is £2.02 (as of Aug 13, 2026), built from audited fundamentals. The current price: £1.90.
What is the quality score of SOLI?
Solid State Plc has a Quality Score of 69/100. 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 Solid State Plc (SOLI)?
Solid State Plc reported trailing-twelve-month revenue of about £149M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SOLI?
The net profit margin of Solid State Plc is about 1.6%, meaning it keeps roughly 1.6% of revenue as net income. Based on the latest reported figures.
Does Solid State Plc pay a dividend?
Solid State Plc currently shows a dividend yield of about 1.48% relative to its recent price (as of Aug 13, 2026).
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