FILTRONIC (FTC) – Aerospace & Defence
| Price: 147p +2.8% | P/E: 49x |
| Market Cap: £320m | Yield: n/a |
AIM-listed electronics maker Filtronic has been selected by a ‘major European defence prime’ for high-performance components for a long-standing project.
The order proper begins in Q1 2026 and is worth £11 million over two years, deepening the firm’s position with the customer and within the European defence sector which is a growing market.
Our View
This quite a decent order for Filtronic, as consensus revenue forecasts for FY26 and FY27 are £55 million and £63 million respectively, so analysts are going to have to upgrade their numbers sharpish.
We need to look into the valuation, because on the face of it the shares look overpriced but they haven’t run nearly as far as those of other defence contractors and with upgrades incoming the FY27 and FY28 multiples will fall.
Read the press release here:https://filtronic.com/investors/
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