Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Oxford Instruments plc is a United Kingdom-based manufacturing and research company that designs and manufactures advanced tools and systems for industry and scientific research. Founded in 1959 by Sir Martin Wood, it pioneered superconducting magnets, including those for the first commercial MRI whole-body scanner in 1980, and has since expanded into imaging, analysis, and fabrication technologies. The company operates through two main divisions: Imaging & Analysis, which provides equipment for atomic and molecular material examination, and Advanced Technologies, focusing on plasma processing solutions like PECVD, ICP etching, atomic layer deposition, and deep silicon etching for semiconductors. Notable acquisitions include Asylum Research for scanning probe microscopes, Andor Technology for scientific cameras, WITec for Raman imaging, and FemtoTools for nanoindenters, enhancing its capabilities in nanotechnology and electron microscopy. Headquartered in High Wycombe, England, with global sites, Oxford Instruments plc supports breakthroughs in sectors such as semiconductors, healthcare, and quantum technologies, maintaining a strong presence as a FTSE 250 constituent.
£30.92
£0.06 (-0.19%)
EOD Jul 3, 2026
14.84% operating margin is respectable but not wide. ROIC at 11.92%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 4.6% YoY. The question is whether this is cyclical or a structural shift.
At 37x earnings, the current multiple leaves limited room for execution misses or growth deceleration.
36.9x earnings, 40.0x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
£423M
▼ -4.6% YoY
Net Income (TTM)
£48M
▲ +85.4% YoY
Op. Margin
14.84%
▼ -0.8pp YoY
ROIC
11.92%
▲ +1.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
£44M
▲ +25.6% YoY
Op. Cash Flow (TTM)
£46M
▼ -0.4% YoY
Net Debt
-£62M
Net Cash Position
Cash & Equiv.
£107M
3Y CAGR: -1.6%
3Y CAGR: +9.5%
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At a P/E of 36.9 and a price-to-free-cash-flow of 40.0, Oxford Instruments (OXIG.XLON) trades above a two-stage DCF intrinsic value of about £17.27 per share, so at £30.92 the stock looks overvalued (44.1% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Oxford Instruments scores 55/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 0.7%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about £17.27 per share for OXIG.XLON, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around £12.96. At today's £30.92, that puts the stock about 44.1% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Oxford Instruments scores 55 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 14.8% operating margin and a 11.9% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Oxford Instruments pays a regular dividend of about £0.23 per share per year (typically in quarterly installments), a yield of roughly 0.7% at the current price. That is a payout ratio of about 27.0% of earnings, so the dividend is amply covered by earnings. Oxford Instruments has grown the dividend at roughly 1.4% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For OXIG.XLON's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. OXIG.XLON currently trades above its estimated intrinsic value and scores 55/100 on quality (mixed). It also yields about 0.7%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.