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EnSilica

ENSI.L
24
Semiconductors · Technology
Price
79.60 GBp
-0.40 (-0.50%)
Market Cap
71.8M GBp
Exchange
London Stock Exchange
Winston Score
24
Winston is worried
Weak fundamentals across most pillars.
Data as of Jul 25, 2026 · filings through Nov 30, 2025

Share count rising — dilution

+136.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 35.3M (2021) → 83.5M (2025)

EnSilica plc operates as a global provider, specializing in the creation and delivery of bespoke mixed-signal Application Specific Integrated Circuits (ASICs). Beyond these custom silicon solutions, the company also develops and licenses foundational intellectual property (IP) blocks, encompassing critical technologies for cryptography, radar, and various communications systems. EnSilica's diverse clientele spans major corporations, original equipment manufacturers (OEMs), and significant players in the automotive supply chain (Tier 1 suppliers). They also support industrial enterprises and large software or service providers who are engineering their own proprietary hardware. Its market reach extends across the industrial, healthcare, and communications sectors, facilitated by a network of representatives and distributors. Established in 2001, EnSilica maintains its headquarters in Abingdon, United Kingdom.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+37.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+63.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$4M/ year

Rising (+53% vs prior year)

23.0% of revenue

1.5x the sector average (15%)

Investing heavily in future products and technology

Cash Position

Cash flow positive

$2M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

EnSilica grew revenue 37% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin
38.3%
Modest — 38.3% gross margin
Operating Margin
-2.8%
Losing money on operations — -2.8%
ROCE
-1.3%
Weak — -1.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY
-13.4%
Shrinking sales (-13.4% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
0/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
32.3%
Converts sales into free cash efficiently (32.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity
0.36
Conservative — low debt load (0.36)
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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