Back to catalogue
OXIG

Oxford Instruments PLC

Industrial Goods and Services First-pass screen £1.6bn
380/1000 Overall fit
AI beneficiary 35% 32
Operating leverage 25% 42
Valuation 25% 30
Downside protection 15% 60

First-pass take

Oxford Instruments supplies scientific instruments and materials characterisation tools with no direct AI exposure; quantum technology is ~6% of revenue and speculative. Operating margins compressed 80 bps in 2019 despite 12.4% revenue growth, showing negative leverage. Net cash position modest at 0.11x EBITDA.

Flags

no-ai-exposureno-valuation-datanegative-operating-leveragemargin-compressionrevenue-profit-divergencecyclical-capex-exposure