t42 IoT Tracking Solutions PLC (TRAC) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of t42 IoT Tracking Solutions PLC £0.03, price £0.03, upside +5.4%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.
How to read this chart
60‑month range £0.0167 – £0.2900 · fair‑value band £0.0274 – £0.0340 · the £0.0260 price screens below the £0.0274 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 4, 2026.
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t42 IoT Tracking Solutions PLC, a technology company, sells hardware and software products in Latin America, Europe, Africa, Asia, the Middle East, and North America. It operates through Hardware and SaaS segments.
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t42 IoT Tracking Solutions PLC, a technology company, sells hardware and software products in Latin America, Europe, Africa, Asia, the Middle East, and North America. It operates through Hardware and SaaS segments. It provides tetis, a tracking and monitoring solution for cargo; lokies, a keyless padlock with IoT capabilities; kylos, a GPS tracker and management system for asset management, monitoring, and tracking; and Helios, an advanced AVL tracking for any vehicle class. The company was formerly known as Starcom plc and changed its name to t42 IoT Tracking Solutions PLC in November 2021. t42 IoT Tracking Solutions PLC was founded in 2004 and is based in Hod Hasharon, Israel.
Stock analysis
t42 IoT Tracking Solutions PLC (TRAC) currently trades at £0.0260, while our model-based Fair Value estimate is £0.0274, so the stock looks roughly fairly valued today (gap 5.1%).
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Valuation
Bull case: the DCF Models group reads highest at a median of £0.1300 per share, and 10 of the 12 models we run sit above the £0.0260 price.
Bear case: the Earnings-Based group reads lowest at £0.0200, and 2 of the 12 models stay below the price. Evidence for this calculation is low.
Scenario range: £0.0274 (bear) to £0.0340 (bull), the price of £0.0260 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 50/100 (below-average quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
t42 IoT Tracking Solutions PLC reported revenue of $6.2M in FY2025 versus $4.2M in FY2021, a compound +10.3%/yr. Reported net income was −$588K in FY2025.
Key figures
Market cap 1.9M GBX · P/S ratio 0.26 · EPS (TTM) £−0.0100 · Net margin −9.4% · Return on equity −306% · Return on assets (EBIT) −16.4% · Operating margin −13.2% · Revenue (TTM) $7.3M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 47% below its 52-week high and 44% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −41% fair-value upside, at 5%, TRAC screens cheaper than that median.
Fair Value models
Bear £0.0274Fair Value £0.0274Bull £0.0340
Price £0.0260 · Upside +5.4%
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.
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.39/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+49.8%
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.
+15.5%
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.
+4.3%
Start year 2020 (pandemic). Over 10 years: +2.0% a year
Revenue growth 16 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.
+1.2%
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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.
−35.2% (2020) → 6.0% (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
Little optimism in the price
The price assumes less 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).
−4.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −6.3% a year for the price.
Compare t42 IoT Tracking Solutions PLC with another stock
Price, fair value, quality and upside side by side.
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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 · 160 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside+5.4% · Above median
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 assets2.0% · Below median
Net margin (TTM)−7.9% · Bottom 25%
Operating margin (TTM)−13.2% · Bottom 25%
Growth and dividend
Revenue growth51.4% · Top 25%
Balance sheet
Debt / equityNegative 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/BNegative 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)0.35× · Cheapest 25%
P/FCF5.8× · Cheapest 25%
EV/EBITDA24.2× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)41· sector 0
FUTURE (revenue growth)100· sector 35
PAST (return on equity)0· sector 23
HEALTH (low debt)0· sector 98
DIVIDEND (yield)0· sector 18
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
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Is t42 IoT Tracking Solutions PLC (TRAC) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of £0.0274 versus a price of £0.0260, about +5% upside (fairly valued).
What is the fair value of TRAC?
Our model-based fair value for t42 IoT Tracking Solutions PLC is £0.0274 (as of Oct 4, 2026), built from audited fundamentals. The current price: £0.0260.
What is the quality score of TRAC?
t42 IoT Tracking Solutions PLC has a Quality Score of 50/100. 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 t42 IoT Tracking Solutions PLC (TRAC)?
Our model-based price target is the fair value of £0.0274 (as of Oct 4, 2026) from 12 valuation models. Cautious scenario £0.0274, optimistic scenario £0.0340. It is a calculation from audited fundamentals, not an analyst target.
What is the t42 IoT Tracking Solutions PLC stock forecast for 2026?
Our models put fair value at £0.0274, about +5% upside versus a price of £0.0260 (fairly valued). Cautious scenario £0.0274, optimistic scenario £0.0340. The calculation is refreshed regularly with new filings.
What is the revenue of t42 IoT Tracking Solutions PLC (TRAC)?
t42 IoT Tracking Solutions PLC reported trailing-twelve-month revenue of about $7.3M (latest available figure, as of Oct 4, 2026).
What growth is priced into t42 IoT Tracking Solutions PLC (TRAC)?
For today's price to be fair in a discounted-cash-flow model, t42 IoT Tracking Solutions PLC would have to grow free cash flow by -4.1 % 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 +4.3 % per year. As of Oct 4, 2026.
What discount rate (WACC) does the fair value of TRAC use?
Our models discount t42 IoT Tracking Solutions PLC at 9.0 %: a base by market capitalisation (nano), damped by beta 0.25, 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 t42 IoT Tracking Solutions PLC that is -4.1 % 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 t42 IoT Tracking Solutions PLC (TRAC) delivered so far?
Over the past 5 years revenue at t42 IoT Tracking Solutions PLC grew +4.3 % a year. The price currently implies -4.1 % 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 t42 IoT Tracking Solutions PLC (TRAC) growing?
The median revenue growth in the sector is +10.4 % a year. That is the yardstick for the growth priced into t42 IoT Tracking Solutions PLC (-4.1 % 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 t42 IoT Tracking Solutions PLC (TRAC)?
The free-cash-flow yield on the price is 19.58 %: that much free cash flow t42 IoT Tracking Solutions 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 t42 IoT Tracking Solutions PLC (TRAC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For t42 IoT Tracking Solutions PLC it is £0.0274 per share (as of Oct 4, 2026), against a price of £0.0260. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is t42 IoT Tracking Solutions PLC stock overvalued or undervalued in 2026?
As of Oct 4, 2026, TRAC trades below its calculated fair value: price £0.0260, fair value £0.0274, a gap of about +5% (fairly valued). 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 TRAC?
No. The price is what the market pays today (£0.0260); the fair value is what the company's own numbers justify (£0.0274). For t42 IoT Tracking Solutions PLC the two are £0.0014 per share apart. That gap is exactly why we show both numbers side by side.
How much is t42 IoT Tracking Solutions PLC worth?
The market values t42 IoT Tracking Solutions PLC at about 1.9M GBX (market capitalisation, as of Oct 4, 2026). Per share that is £0.0260; our models calculate a fair value of £0.0274 per share.
What do the bullish and bearish scenarios say about TRAC?
Our models span a range for t42 IoT Tracking Solutions PLC: cautious scenario £0.0274, base £0.0274, optimistic £0.0340 per share (as of Oct 4, 2026, price £0.0260). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of t42 IoT Tracking Solutions PLC (TRAC)?
Balance-sheet figures for t42 IoT Tracking Solutions PLC (as of Oct 4, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is TRAC from its 52-week high?
t42 IoT Tracking Solutions PLC trades at £0.0260, about 47% below its 52-week high of £0.0495 and 44% above the low of £0.0180 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of £0.0274 is for.
Which stocks are comparable to t42 IoT Tracking Solutions PLC?
From the same area (Technology) we also value Keysight Technologies, Inc, Coherent Corp, Garmin Ltd, 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 t42 IoT Tracking Solutions PLC stock attractive at the current price?
The data as of Oct 4, 2026: price £0.0260, calculated fair value £0.0274 (+5%), Quality Score 50/100, from 12 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 TRAC calculated?
We run t42 IoT Tracking Solutions PLC through 12 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 £0.0274, 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 15.0 % above its aggregate fair value. t42 IoT Tracking Solutions PLC currently trades 5 % 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 t42 IoT Tracking Solutions PLC (TRAC)?
The closing price on Oct 2, 2026 was £0.0260. Our model-based fair value is £0.0274, about +5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with t42 IoT Tracking Solutions PLC right now?
The price is below even our cautious bear case (£0.0274). The market is more pessimistic than our downside scenario. The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of t42 IoT Tracking Solutions PLC
How large is the market capitalisation of t42 IoT Tracking Solutions PLC (TRAC)?
The market capitalisation of t42 IoT Tracking Solutions PLC is 1.9M 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 t42 IoT Tracking Solutions PLC (TRAC)?
The price-to-sales ratio of t42 IoT Tracking Solutions PLC is 0.26 (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 t42 IoT Tracking Solutions PLC (TRAC)?
Earnings per share at t42 IoT Tracking Solutions PLC are £−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of t42 IoT Tracking Solutions PLC (TRAC)?
The net margin of t42 IoT Tracking Solutions PLC is −9.4% (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 return on equity of t42 IoT Tracking Solutions PLC (TRAC)?
The return on equity (ROE) of t42 IoT Tracking Solutions PLC is −306% (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 t42 IoT Tracking Solutions PLC (TRAC)?
On an EBIT basis the return on assets of t42 IoT Tracking Solutions PLC is −16.4% (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 t42 IoT Tracking Solutions PLC (TRAC)?
The operating margin of t42 IoT Tracking Solutions PLC is −13.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at t42 IoT Tracking Solutions PLC (TRAC)?
Revenue at t42 IoT Tracking Solutions PLC is growing +51.4% versus a year earlier (3y avg +15.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does t42 IoT Tracking Solutions PLC (TRAC) carry?
The net debt of t42 IoT Tracking Solutions PLC is $3.7M (fiscal year 2025, ≈ 8.5 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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