Cash flow ITM Power Plc

Equities

ITM

GB00B0130H42

Electric Utilities

Market Closed - London S.E. Other stock markets 12:35:02 2026-03-13 pm EDT			5-day change	1st Jan Change
63.10 ^GBX	-1.25%		-1.10%	+1.28%

Mar. 11	ITM Power confirms authorised project relates to MoreGen	AN
Mar. 11	ITM Power Signs Long-term Service Deal for UK Hydrogen Project as Investment Decision Reached	MT

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Published financial data: ITM POWER PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: April	2021	2022	2023	2024	2025
Revenues	4.28M	5.63M	5.23M	16.51M	26.04M
Other Revenues, Total	1.36M	-	-	-	-
Total Revenues	5.63M	5.63M	5.23M	16.51M	26.04M
Cost of Goods Sold, Total	20.98M	37.04M	84.29M	33.17M	49.73M
Gross Profit	-15.35M	-31.41M	-79.06M	-16.66M	-23.69M
Selling General & Admin Expenses, Total	8.84M	12.59M	17.74M	18.32M	17.92M
Provision for Bad Debts	165K	-84K	-	-	-
R&D Expenses	3.49M	1.38M	-	-	-
Depreciation & Amortization - (IS)	-	-	3.01M	789K	823K
Amortization of Goodwill and Intangible Assets - (IS)	-	-	942K	1.92M	2.45M
Other Operating Expenses	-1.19M	-560K	-1.57M	-1.23M	-3.42M
Other Operating Expenses, Total	11.3M	13.33M	20.12M	19.8M	17.78M
Operating Income	-26.66M	-44.74M	-99.18M	-36.47M	-41.46M
Interest Expense, Total	-479K	-532K	-541K	-643K	-985K
Interest And Investment Income	83K	325K	4.65M	12.22M	10.17M
Net Interest Expenses	-396K	-207K	4.11M	11.58M	9.18M
Income (Loss) On Equity Invest.	-595K	-10K	-1.57M	-622K	-5K
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	-27.65M	-44.95M	-96.64M	-25.51M	-32.28M
Gain (Loss) On Sale Of Assets	-	-1.71M	-64K	-126K	10K
Asset Writedown	-	-	-4.47M	-1.42M	-
Other Unusual Items	-	-	-	-	-13.09M
EBT, Incl. Unusual Items	-27.65M	-46.66M	-101M	-27.06M	-45.36M
Income Tax Expense	49K	31K	32K	167K	152K
Earnings From Continuing Operations	-27.7M	-46.69M	-101M	-27.22M	-45.52M
Net Income to Company	-27.7M	-46.69M	-101M	-27.22M	-45.52M
Net Income - (IS)	-27.7M	-46.69M	-101M	-27.22M	-45.52M
Net Income to Common Incl Extra Items	-27.7M	-46.69M	-101M	-27.22M	-45.52M
Net Income to Common Excl. Extra Items	-27.7M	-46.69M	-101M	-27.22M	-45.52M
Per Share Items
Net EPS - Basic	-0.05	-0.08	-0.16	-0.04	-0.07
Basic EPS - Continuing Operations	-0.05	-0.08	-0.16	-0.04	-0.07
Basic Weighted Average Shares Outstanding	507M	577M	615M	617M	617M
Net EPS - Diluted	-0.05	-0.08	-0.16	-0.04	-0.07
Diluted EPS - Continuing Operations	-0.05	-0.08	-0.16	-0.04	-0.07
Diluted Weighted Average Shares Outstanding	507M	577M	615M	617M	617M
Normalized Basic EPS	-0.03	-0.05	-0.1	-0.03	-0.03
Normalized Diluted EPS	-0.03	-0.05	-0.1	-0.03	-0.03
Supplemental Items
EBITDA	-25.08M	-42.35M	-96.04M	-31.68M	-35.43M
EBITA	-26.66M	-43.98M	-98.32M	-34.64M	-39.08M
EBIT	-26.66M	-44.74M	-99.18M	-36.47M	-41.46M
EBITDAR	-24.93M	-42.07M	-94.7M	-	-
Effective Tax Rate - (Ratio)	-0.18	-0.07	-0.03	-0.62	-0.34
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	49K	31K	32K	167K	152K
Normalized Net Income	-17.28M	-28.1M	-60.4M	-15.95M	-20.18M
Interest on Long-Term Debt	419K	491K	486K	589K	911K
Supplemental Operating Expense Items
Selling and Marketing Expenses	1.44M	1.92M	-	-	-
General and Administrative Expenses	7.4M	10.67M	6.29M	4.48M	2.94M
Research And Development Expense From Footnotes	12.33M	9.31M	1.06M	2.6M	1.7M
Net Rental Expense, Total	150K	277K	1.34M	-	-
Imputed Operating Lease Interest Expense	88.35K	173K	775K	-	-
Imputed Operating Lease Depreciation	61.65K	104K	565K	-	-
Stock-Based Comp., Other (Total)	595K	1.07M	1.16M	92K	1.05M
Total Stock-Based Compensation	595K	1.07M	1.16M	92K	1.05M

Fiscal Period: April	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	176M	366M	283M	230M	207M
Total Cash And Short Term Investments	176M	366M	283M	230M	207M
Accounts Receivable, Total	11.17M	8.08M	6.08M	19.59M	7.97M
Other Receivables	4.24M	5.07M	4.92M	6.22M	10.5M
Total Receivables	15.4M	13.15M	11M	25.81M	18.47M
Inventory	6.42M	32.2M	58.84M	70.42M	56.01M
Prepaid Expenses	6.53M	11.97M	7.88M	2.17M	999K
Restricted Cash	1.05M	297K	774K	757K	1.31M
Other Current Assets, Total	-	127K	1.81M	-	-
Total Current Assets	205M	424M	363M	330M	284M
Gross Property Plant And Equipment	32.7M	31.81M	40.1M	56.78M	64.95M
Accumulated Depreciation	-12.79M	-9.72M	-12.67M	-15.14M	-19.39M
Net Property Plant And Equipment	19.91M	22.09M	27.42M	41.65M	45.56M
Long-term Investments	407K	1.82M	553K	453K	574K
Other Intangibles, Total	2.22M	1.97M	3.14M	8.4M	6.68M
Loans Receivable Long-Term	-	1.55M	-	-	-
Deferred Charges Long-Term	1.05M	7.11M	8.33M	1.77M	5.31M
Total Assets	229M	458M	402M	382M	342M
Liabilities
Accounts Payable, Total	1.19M	8.72M	4.45M	8.82M	5.89M
Accrued Expenses, Total	2.11M	3.32M	3.26M	3.82M	5.96M
Current Portion of Leases	204K	626K	943K	678K	837K
Current Income Taxes Payable	511K	726K	921K	636K	734K
Unearned Revenue Current, Total	9.04M	21.53M	37.66M	55.42M	67.79M
Other Current Liabilities	12.28M	15.21M	17.68M	9.69M	11.3M
Total Current Liabilities	25.34M	50.13M	64.92M	79.06M	92.5M
Long-Term Leases	6.28M	6.52M	6.87M	12.03M	11.49M
Other Non Current Liabilities	-	6.56M	35.03M	21.97M	13.72M
Total Liabilities	31.62M	63.21M	107M	113M	118M
Common Stock, Total	27.53M	30.66M	30.82M	30.85M	30.87M
Additional Paid In Capital	302M	542M	543M	543M	543M
Retained Earnings	-130M	-176M	-276M	-303M	-348M
Comprehensive Income and Other	-1.89M	-1.96M	-1.8M	-1.63M	-1.67M
Total Common Equity	197M	395M	296M	269M	224M
Total Equity	197M	395M	296M	269M	224M
Total Liabilities And Equity	229M	458M	402M	382M	342M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	551M	613M	616M	617M	617M
ECS Total Common Shares Outstanding	551M	613M	616M	617M	617M
Book Value / Share	0.36	0.64	0.48	0.44	0.36
Tangible Book Value	195M	393M	292M	260M	218M
Tangible Book Value Per Share	0.35	0.64	0.47	0.42	0.35
Total Debt	6.49M	7.15M	7.81M	12.7M	12.33M
Net Debt	-170M	-359M	-275M	-218M	-195M
Debt Equivalent Oper. Leases	1.2M	2.22M	10.72M	-	-
Equity Method Investments, Total	259K	1.66M	379K	53K	48K
Account Code - Inventory Valuation	5	5	5	3	3
Inventories - Raw Materials, Total	3.88M	24.31M	18.31M	10.26M	7.87M
Inventories - Work In Process, Total	2.54M	7.89M	40.53M	60.16M	48.14M
Machinery, Total	11.44M	8.92M	13.52M	18.81M	22.59M
Full Time Employees	210	388	424	359	306
Accumulated Allowance for Doubtful Accounts (Supple)	59K	60K	52K	230K	111K
Order Backlog	171M	-	-	-	-

Fiscal Period: April	2021	2022	2023	2024	2025
Net Income	-27.7M	-46.69M	-101M	-27.22M	-45.52M
Depreciation & Amortization - CF	2.32M	2.34M	3.01M	4.01M	4.93M
Amortization of Goodwill and Intangible Assets - (CF)	-	760K	862K	1.83M	2.38M
Depreciation & Amortization, Total	2.32M	3.1M	3.87M	5.84M	7.31M
Amortization of Deferred Charges, Total - (CF)	274K	89K	80K	94K	72K
(Gain) Loss From Sale Of Asset	173K	-	64K	126K	-10K
Asset Writedown & Restructuring Costs	1.71M	-	4.47M	1.42M	-
Provision for Credit Losses	-	359K	-	-	-
Stock-Based Compensation (CF)	595K	1.07M	1.16M	92K	980K
Other Operating Activities, Total	582K	1.32M	-3.14M	-11.28M	-10.02M
Change In Accounts Receivable	185K	-2.55M	5.85M	-9.22M	7.81M
Change In Inventories	-1.99M	-25.78M	-26.64M	-11.58M	14.41M
Change In Accounts Payable	-1.16M	21.44M	11.79M	22.21M	12.07M
Change in Other Net Operating Assets	4.86M	9.49M	31.15M	-21.06M	-7.12M
Cash from Operations	-20.14M	-38.16M	-72.55M	-50.58M	-20.02M
Capital Expenditure	-14.42M	-4.12M	-8.55M	-12.46M	-8.55M
Sale of Property, Plant, and Equipment	3K	352K	-	19K	130K
Divestitures	-	-993K	-	-	-
Sale (Purchase) of Intangible assets	-1.52M	-7.04M	-6.56M	-2.04M	-4.28M
Investment in Marketable and Equity Securities, Total	-535K	-1.84M	-472K	1.48M	-100K
Other Investing Activities, Total	4.08M	-1.44M	4.69M	12.2M	10.14M
Cash from Investing	-12.4M	-15.08M	-10.9M	-795K	-2.65M
Long-Term Debt Repaid, Total	-156K	-69K	-531K	-1.06M	-785K
Total Debt Repaid	-156K	-69K	-531K	-1.06M	-785K
Issuance of Common Stock	174M	250M	1.05M	167K	118K
Other Financing Activities, Total	-4.95M	-6.8M	-612K	-	-
Cash from Financing	169M	243M	-95K	-891K	-667K
Foreign Exchange Rate Adjustments	-22K	-93K	225K	58K	32K
Net Change in Cash	136M	190M	-83.32M	-52.21M	-23.31M
Supplemental Items
Cash Interest Paid	479K	532K	495K	605K	919K
Cash Income Tax Paid (Refund)	-21K	62K	-	62K	-
Levered Free Cash Flow	-27.29M	-39.16M	-80.43M	-36.11M	4.72M
Unlevered Free Cash Flow	-26.99M	-38.83M	-80.09M	-35.71M	5.34M
Change In Net Working Capital	-2.43M	3.97M	8.1M	4.44M	-35.64M
Net Debt Issued / Repaid	-156K	-69K	-531K	-1.06M	-785K

Fiscal Period: April	2021	2022	2023	2024	2025
Profitability
Return on Assets	-10.67	-8.14	-14.41	-5.81	-7.16
Return on Total Capital	-12.52	-9.23	-17.57	-7.8	-10
Return On Equity %	-21.88	-15.76	-29.31	-9.65	-18.47
Return on Common Equity	-21.88	-15.76	-29.31	-9.65	-18.47
Margin Analysis
Gross Profit Margin %	-272.65	-558.17	-1.51K	-100.94	-90.96
SG&A Margin	156.99	223.72	339.28	110.98	68.81
EBITDA Margin %	-445.41	-752.57	-1.84K	-191.89	-136.06
EBITA Margin %	-473.4	-781.52	-1.88K	-209.83	-150.07
EBIT Margin %	-473.4	-795.02	-1.9K	-220.9	-159.22
Income From Continuing Operations Margin %	-491.87	-829.82	-1.94K	-164.9	-174.79
Net Income Margin %	-491.87	-829.82	-1.94K	-164.9	-174.79
Net Avail. For Common Margin %	-491.87	-829.82	-1.94K	-164.9	-174.79
Normalized Net Income Margin	-306.87	-499.3	-1.16K	-96.59	-77.48
Levered Free Cash Flow Margin	-484.59	-695.9	-1.54K	-218.73	18.14
Unlevered Free Cash Flow Margin	-479.27	-689.99	-1.53K	-216.29	20.51
Asset Turnover
Asset Turnover	0.04	0.02	0.01	0.04	0.07
Fixed Assets Turnover	0.34	0.27	0.21	0.48	0.6
Receivables Turnover (Average Receivables)	0.46	0.58	0.74	1.29	1.89
Inventory Turnover (Average Inventory)	3.87	1.92	1.85	0.51	0.79
Short Term Liquidity
Current Ratio	8.11	8.45	5.59	4.17	3.07
Quick Ratio	7.56	7.56	4.52	3.24	2.44
Operating Cash Flow to Current Liabilities	-0.79	-0.76	-1.12	-0.64	-0.22
Days Sales Outstanding (Average Receivables)	801.59	624.14	494.03	284.59	193.16
Days Outstanding Inventory (Average Inventory)	94.36	190.29	197.1	713.05	464
Average Days Payable Outstanding	29.38	28.78	21.66	54.26	75.98
Cash Conversion Cycle (Average Days)	866.57	785.65	669.47	943.39	581.18
Long Term Solvency
Total Debt/Equity	3.28	1.81	2.64	4.73	5.5
Total Debt / Total Capital	3.18	1.78	2.57	4.51	5.21
LT Debt/Equity	3.18	1.65	2.32	4.48	5.13
Long-Term Debt / Total Capital	3.08	1.62	2.26	4.27	4.86
Total Liabilities / Total Assets	13.8	13.8	26.55	29.61	34.42
EBIT / Interest Expense	-55.65	-84.09	-183.33	-56.72	-42.09
EBITDA / Interest Expense	-50.81	-78.26	-176.18	-47.64	-34.67
(EBITDA - Capex) / Interest Expense	-80.91	-86.01	-191.99	-67.02	-43.35
Total Debt / EBITDA	-0.27	-0.17	-0.08	-0.41	-0.36
Net Debt / EBITDA	6.97	8.62	2.88	7.1	5.7
Total Debt / (EBITDA - Capex)	-0.17	-0.16	-0.08	-0.29	-0.29
Net Debt / (EBITDA - Capex)	4.38	7.84	2.65	5.05	4.56
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	12.4	-0.07	-7.07	215.72	57.73
Gross Profit, 1 Yr. Growth %	-22.26	104.57	236.78	-78.92	42.14
EBITDA, 1 Yr. Growth %	-8.69	70.39	126.8	-67.02	11.84
EBITA, 1 Yr. Growth %	-9.31	66.39	123.57	-64.77	12.81
EBIT, 1 Yr. Growth %	-9.31	67.82	121.7	-63.23	13.69
Earnings From Cont. Operations, 1 Yr. Growth %	-6.31	68.59	116.73	-73.1	67.19
Net Income, 1 Yr. Growth %	-6.31	68.59	116.73	-73.1	67.19
Normalized Net Income, 1 Yr. Growth %	-6.35	62.59	114.97	-73.6	28.19
Diluted EPS Before Extra, 1 Yr. Growth %	-26.45	48.29	103.34	-73.19	67.04
Accounts Receivable, 1 Yr. Growth %	46.81	-27.7	-24.71	222.27	-59.34
Inventory, 1 Yr. Growth %	44.81	401.68	82.74	19.68	-20.46
Net Property, Plant and Equip., 1 Yr. Growth %	52.93	10.94	24.14	51.87	9.4
Total Assets, 1 Yr. Growth %	175.4	100.01	-12.19	-5.1	-10.43
Tangible Book Value, 1 Yr. Growth %	252.25	101.29	-25.6	-10.96	-16.42
Common Equity, 1 Yr. Growth %	254.19	100.03	-25.18	-9.07	-16.55
Cash From Operations, 1 Yr. Growth %	67.28	89.44	90.16	-30.29	-60.42
Capital Expenditures, 1 Yr. Growth %	60.49	-71.44	107.65	45.71	-28.59
Levered Free Cash Flow, 1 Yr. Growth %	54.01	43.51	105.4	-55.11	-113.29
Unlevered Free Cash Flow, 1 Yr. Growth %	53.48	43.87	106.29	-55.42	-115.19
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	5.95	5.98	-3.64	71.29	123.16
Gross Profit, 2 Yr. CAGR %	44.35	26.11	126.93	-15.75	-45.27
EBITDA, 2 Yr. CAGR %	81.97	24.16	96.58	-13.51	-39.26
EBITA, 2 Yr. CAGR %	68.88	22.31	92.88	-11.25	-36.95
EBIT, 2 Yr. CAGR %	68.88	23.36	92.89	-9.71	-35.34
Earnings From Cont. Operations, 2 Yr. CAGR %	71.19	25.68	91.15	-23.64	-32.94
Net Income, 2 Yr. CAGR %	71.19	25.68	91.15	-23.64	-32.94
Normalized Net Income, 2 Yr. CAGR %	72.25	23.4	86.96	-24.66	-42.2
Diluted EPS Before Extra, 2 Yr. CAGR %	36.82	4.43	73.65	-26.16	-33.08
Accounts Receivable, 2 Yr. CAGR %	-10.9	3.02	-26.22	55.77	14.47
Inventory, 2 Yr. CAGR %	83.5	169.53	202.79	47.89	-2.44
Net Property, Plant and Equip., 2 Yr. CAGR %	86.22	30.25	17.35	37.31	28.9
Total Assets, 2 Yr. CAGR %	126.35	134.7	32.53	-8.72	-7.81
Tangible Book Value, 2 Yr. CAGR %	174.88	166.28	22.37	-18.61	-13.73
Common Equity, 2 Yr. CAGR %	174.47	166.17	22.34	-17.51	-12.89
Cash From Operations, 2 Yr. CAGR %	30.79	78.02	89.8	15.14	-47.47
Capital Expenditures, 2 Yr. CAGR %	86.98	-32.3	-22.99	73.95	-0.04
Levered Free Cash Flow, 2 Yr. CAGR %	47.33	48.67	71.69	-3.97	-75.76
Unlevered Free Cash Flow, 2 Yr. CAGR %	46.53	48.59	72.27	-4.1	-74.18
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	19.7	3.91	1.44	43.12	66.64
Gross Profit, 3 Yr. CAGR %	52.85	62.14	58.79	2.77	0.3
EBITDA, 3 Yr. CAGR %	72.54	77.49	51.78	8.43	-5.77
EBITA, 3 Yr. CAGR %	60.12	67.56	49.55	9.44	-3.86
EBIT, 3 Yr. CAGR %	60.12	68.52	49.99	11.01	-2.5
Earnings From Cont. Operations, 3 Yr. CAGR %	65.45	70.32	50.71	-0.57	-0.85
Net Income, 3 Yr. CAGR %	65.45	70.32	50.71	-0.57	-0.85
Normalized Net Income, 3 Yr. CAGR %	62.23	68.97	48.48	-2.64	-10.45
Diluted EPS Before Extra, 3 Yr. CAGR %	36.89	40.54	30.41	-6.84	-3.07
Accounts Receivable, 3 Yr. CAGR %	5.7	-16.9	-7.2	20.61	-0.45
Inventory, 3 Yr. CAGR %	113.99	156.59	136.79	122.21	20.27
Net Property, Plant and Equip., 3 Yr. CAGR %	64.74	56.69	28.18	27.88	27.29
Total Assets, 3 Yr. CAGR %	72.84	117.21	69.12	18.56	-9.29
Tangible Book Value, 3 Yr. CAGR %	76.37	147.77	74.08	10.07	-17.89
Common Equity, 3 Yr. CAGR %	77.03	147	74.36	10.82	-17.19
Cash From Operations, 3 Yr. CAGR %	36.01	47.98	81.97	35.93	-19.34
Capital Expenditures, 3 Yr. CAGR %	18.71	-0.05	-1.63	-4.75	27.54
Levered Free Cash Flow, 3 Yr. CAGR %	22.59	46.05	65.58	9.79	-50.59
Unlevered Free Cash Flow, 3 Yr. CAGR %	22.14	45.63	65.77	9.78	-48.38
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	23.88	18.43	9.76	26.9	39.05
Gross Profit, 5 Yr. CAGR %	43.68	74.22	79.03	17.73	3.7
EBITDA, 5 Yr. CAGR %	46.32	78.01	81.45	33.13	5.22
EBITA, 5 Yr. CAGR %	43.64	65.42	72.2	29.95	5.86
EBIT, 5 Yr. CAGR %	43.64	65.99	72.5	31.29	7.12
Earnings From Cont. Operations, 5 Yr. CAGR %	47.26	65.33	75.28	23.56	9.02
Net Income, 5 Yr. CAGR %	47.26	65.33	75.28	23.56	9.02
Normalized Net Income, 5 Yr. CAGR %	44.7	66.15	71.7	22.32	1.8
Diluted EPS Before Extra, 5 Yr. CAGR %	20.3	36.66	50.55	8.64	-0.14
Accounts Receivable, 5 Yr. CAGR %	44.53	5.41	-8.46	6.85	0.93
Inventory, 5 Yr. CAGR %	85.65	111.55	145.86	105.83	66.09
Net Property, Plant and Equip., 5 Yr. CAGR %	45.78	37.35	43.84	48.63	28.47
Total Assets, 5 Yr. CAGR %	76.46	87.55	55.42	53.56	32.68
Tangible Book Value, 5 Yr. CAGR %	75.77	97.52	52.38	58.73	31.46
Common Equity, 5 Yr. CAGR %	76.17	97.72	52.7	59.28	32.1
Cash From Operations, 5 Yr. CAGR %	23.19	49.86	55.4	33.85	10.71
Capital Expenditures, 5 Yr. CAGR %	34.19	4.58	-0.16	24.75	-1
Levered Free Cash Flow, 5 Yr. CAGR %	18.65	58.43	40.27	23.5	-23.23
Unlevered Free Cash Flow, 5 Yr. CAGR %	18.39	58.16	40.15	23.22	-21.21