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NIOX

Niox Group PLC

Health Care First-pass screen £286m
430/1000 Overall fit
AI beneficiary 35% 25
Operating leverage 25% 65
Valuation 25% 30
Downside protection 15% 72

First-pass take

Market-leading FeNO diagnostic device company with 17% revenue growth, 34% EBITDA margins, strong net cash (£19.9m), and 90%+ recurring consumables revenue. However, zero AI/ML exposure or enterprise AI spending tailwinds limits strategic fit. No valuation data in filing.

Flags

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