ABDP — AB Dynamics plcConsumer Cyclical · Auto PartsLSE

GBp 228.9M

Mkt Cap

GBp 186.1M

Ent. Value

GBp 1000.00

52W GBp 962 – GBp 1900

GBp 228.9M

Mkt Cap

GBp 186.1M

Ent. Value

N/M

P/E TTM

-0.94

PEG

11.9×

P/FCF

1.6×

P/Book

2.1×

P/Sales

26.6×

EV/EBITDA

41.4×

EV/EBIT

9.9×

EV/FCF

1.8×

EV/Sales

-2.4%

Earn Yld

8.4%

FCF Yld

1.0%

Div Yld

GBp 1000.00

All values in British Pounds (GBP)

GBP	FY2025	FY2024	FY2023	FY2022
Revenue	114.70M	111.30M	100.77M	83.23M
YoY Growth	+3.1%	+10.5%	+21.1%	—
Gross Profit	71.10M	66.30M	59.93M	47.14M
Gross Margin	62.0%	59.6%	59.5%	56.6%
R&D	—	—	—	1.67M
SG&A	47.80M	46.00M	52.55M	40.99M
EBIT	23.30M	20.30M	7.38M	6.15M
EBIT Margin	20.3%	18.2%	7.3%	7.4%
D&A	10.70M	10.30M	11.10M	9.14M
EBITDA	25.70M	22.60M	23.30M	14.92M
EBITDA Margin	22.4%	20.3%	23.1%	17.9%
Net Income	12.00M	9.70M	10.99M	4.74M
Net Margin	10.5%	8.7%	10.9%	5.7%
EPS (diluted)	£0.52	£0.42	£0.47	£0.17
Shares (dil., M)	23	23	23	23

Company Brief

AB Dynamics plc provides vehicle test development and verification products and services for driver assistance systems. The company operates through Testing Products, Testing Services, and Simulation segments. It is also involved in design, manufacture and supply of advanced testing, simulation and measurement products. The company offers testing products, such as retrofit autonomy, test dummies, test platforms, electronic test equipment, testing software, driverless test systems, driving robots, and laboratory test machines. It also offers automotive testing services consisting of dynamics testing, mileage accumulation, hot and cold thermal testing, on-road testing, ADAS and AV testing, EV and other certification services. In addition, the company provides driving simulation and simulation environment solutions. Further, it serves automotive, development of road vehicles, vehicle active safety systems, environmental testing, autonomous technologies, drivetrains and battery performance, vehicle durability, and vehicle dynamics systems. The company operates in the United States, Germany, the United Kingdom, China, Japan, Singapore, and internationally. AB Dynamics plc was founded in 1982 and is headquartered in Bradford-On-Avon, the United Kingdom.

CEOMs. Sarah Louise Matthews-DeMersEmployees553IPO Date2013-05-22CountryUnited KingdomWebsitewww.abdplc.com

Margins (TTM)

Gross Margin	63.8%
EBITDA Margin	6.6%
EBIT Margin	4.3%
Net Margin	-5.0%
FCF Margin	17.8%

Returns on Capital

ROIC	3.1%
ROCE	2.9%
ROE	-3.8%
ROA	-2.8%
Asset Turnover	0.56×

Earnings Quality

FCF / Net Income	180.0%
SBC / Net Income	5.8%
SBC / Revenue	0.6%
Capex / D&A	0.29×

Growth (CAGR)

Metric	3yr
Revenue	11.3%
EPS	44.4%
FCF	15.3%
Dividend	—

Ownership

Float	64.9%
Shares Out.	22.9M
Insiders %	—
Institutions %	—
Institutions (of float)	—
Institution holders	—
Insider net buy 6M	—

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Balance Sheet

Cash & ST Invest.	£44.7M
Total Debt	£3.3M
Net Cash / (Debt)	£41.4M
Total Assets	£188.9M
Total Equity	£139.9M
Goodwill & Intang.	£77.5M
Tangible Book Value	£62.4M
NCAV (Graham)	£30.4M
Tangible Book/sh	£2.73
NCAV/sh	£1.33

Leverage

D/E Ratio	0.02×
Net Debt / EBITDA	-5.91×
Interest Coverage	—
Current Ratio	2.21×
Quick Ratio	1.82×

Capital Allocation (last FY)

Capex	£3.1M
Capex / Revenue	2.7%
SBC	£700K
Dividends Paid	£1.9M
Buybacks	—

Dividends

Annual DPS	£0.09
Yield (fwd)	0.96%
Payout Ratio	15.7%
Ex-div Date	2026-04-30

Valuation vs History

P/E vs 4Y	N/Mvs 4326.6× median
Div yield vs 10Y	96.0%vs 0.0% median

Buyback History

FY 2025—+0.1%

FY 2024—-0.3%

FY 2023—+1.4%

FY 2022——

Margins (TTM)

Gross Margin	63.8%
EBITDA Margin	6.6%
EBIT Margin	4.3%
Net Margin	-5.0%
FCF Margin	17.8%

Returns on Capital

ROIC	3.1%
ROCE	2.9%
ROE	-3.8%
ROA	-2.8%
Asset Turnover	0.56×

Earnings Quality

FCF / Net Income	180.0%
SBC / Net Income	5.8%
SBC / Revenue	0.6%
Capex / D&A	0.29×

Growth (CAGR)

Metric	3yr
Revenue	11.3%
EPS	44.4%
FCF	15.3%
Dividend	—

Ownership

Float	64.9%
Shares Out.	22.9M
Insiders %	—
Institutions %	—
Institutions (of float)	—
Institution holders	—
Insider net buy 6M	—

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GBp 1000.00

All values in British Pounds (GBP)

GBP	FY2025	FY2024	FY2023	FY2022
Revenue	114.70M	111.30M	100.77M	83.23M
YoY Growth	+3.1%	+10.5%	+21.1%	—
Gross Profit	71.10M	66.30M	59.93M	47.14M
Gross Margin	62.0%	59.6%	59.5%	56.6%
R&D	—	—	—	1.67M
SG&A	47.80M	46.00M	52.55M	40.99M
EBIT	23.30M	20.30M	7.38M	6.15M
EBIT Margin	20.3%	18.2%	7.3%	7.4%
D&A	10.70M	10.30M	11.10M	9.14M
EBITDA	25.70M	22.60M	23.30M	14.92M
EBITDA Margin	22.4%	20.3%	23.1%	17.9%
Net Income	12.00M	9.70M	10.99M	4.74M
Net Margin	10.5%	8.7%	10.9%	5.7%
EPS (diluted)	£0.52	£0.42	£0.47	£0.17
Shares (dil., M)	23	23	23	23

Company Brief

CEOMs. Sarah Louise Matthews-DeMersEmployees553IPO Date2013-05-22CountryUnited KingdomWebsitewww.abdplc.com

Balance Sheet

Cash & ST Invest.	£44.7M
Total Debt	£3.3M
Net Cash / (Debt)	£41.4M
Total Assets	£188.9M
Total Equity	£139.9M
Goodwill & Intang.	£77.5M
Tangible Book Value	£62.4M
NCAV (Graham)	£30.4M
Tangible Book/sh	£2.73
NCAV/sh	£1.33

Leverage

D/E Ratio	0.02×
Net Debt / EBITDA	-5.91×
Interest Coverage	—
Current Ratio	2.21×
Quick Ratio	1.82×

Capital Allocation (last FY)

Capex	£3.1M
Capex / Revenue	2.7%
SBC	£700K
Dividends Paid	£1.9M
Buybacks	—

Dividends

Annual DPS	£0.09
Yield (fwd)	0.96%
Payout Ratio	15.7%
Ex-div Date	2026-04-30

Valuation vs History

P/E vs 4Y	N/Mvs 4326.6× median
Div yield vs 10Y	96.0%vs 0.0% median

Buyback History

FY 2025—+0.1%

FY 2024—-0.3%

FY 2023—+1.4%

FY 2022——

Not investment adviceUpdated 4/17/2026