£48.50 ($0.64)

+0.50 (+1.04%)

Weekly Expected Move ±5.2%

£43 £46 £48 £50 £53

LSE · Technology · Information Technology Services · Tech Score Buy · Power 68 · £71.7M mcap · 127M float · 0.540% daily turnover

Overview Chart Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

A-

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. MTEC.L receives an overall rating of A-. Strongest factors: ROE (4/5), ROA (5/5).

Rating Change History

Date	From	To
2026-10-01	B+	A-
2026-08-24	B	B+
2026-05-20	B+	B
2026-04-30	B	B+
2026-04-07	None	ADDED
2026-04-07	EXISTED	None
2026-03-02	B-	B
2026-01-03	B	B-

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 57 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. MTEC.L scores highest in Safety (100/100) and lowest in Balance Sheet (13/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

10.70

Safe Zone

Piotroski F-Score

5/9

✗ ✓ ✓ ✓ ✗ ✓ ✗ ✗ ✓

Beneish M-Score

-3.70

Unlikely Manipulator

Ohlson O-Score

-8.85

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

BBB

Score: 55.5/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: -3.89x

Accruals: -26.1%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. MTEC.L scores 10.70, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. MTEC.L scores 5/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. MTEC.L's score of -3.70 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. MTEC.L's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. MTEC.L receives an estimated rating of BBB (score: 55.5/100), with a deteriorating trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

20.60x

PEG

0.14x

P/S

1.22x

P/B

3.86x

P/FCF

13.47x

P/OCF

11.87x

EV/EBITDA

378.67x

EV/Revenue

0.46x

EV/EBIT

-31.08x

EV/FCF

10.89x

Earnings Yield

-2.17%

FCF Yield

7.42%

Shareholder Yield

1.30%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 20.6x earnings, MTEC.L commands a growth premium.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

1.025

NI / EBT

Interest Burden

0.813

EBT / EBIT

EBIT Margin

-0.015

EBIT / Rev

Asset Turnover

4.298

Rev / Assets

Equity Multiplier

1.332

Assets / Equity

ROE

-7.1%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. MTEC.L's ROE of -7.1% is driven by Asset Turnover (4.298), indicating efficient use of assets to generate revenue. A tax burden ratio of 1.03 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1236 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$48.00

Median 1Y

$31.52

5th Pctile

$10.88

95th Pctile

$91.20

Ann. Volatility

65.3%

25th–75th percentile 5th–95th percentile Median path Historical

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
ROE	0.9%	-2.1%	-9.0%	-12.5%	-21.3%	-29.7%	-19.1%	-7.1%	-7.11%
ROA	0.7%	-1.5%	-7.1%	-9.5%	-16.3%	-22.0%	-14.6%	-5.3%	-5.34%
ROIC	13.1%	-1.0%	-15.6%	-12.2%	-28.6%	-69.4%	-46.3%	-23.2%	-23.19%
ROCE	1.0%	-1.7%	-12.8%	-11.6%	-19.4%	-35.9%	-18.1%	-8.4%	-8.38%
Gross Margin	38.0%	37.0%	31.9%	37.8%	37.1%	35.5%	35.8%	28.6%	28.59%
Operating Margin	3.0%	-2.2%	-6.1%	1.2%	-5.7%	-11.0%	1.5%	5.6%	5.60%
Net Margin	1.0%	-2.4%	-5.2%	-2.7%	-5.1%	-7.6%	1.1%	4.7%	4.71%
EBITDA Margin	2.3%	-1.3%	-7.3%	2.0%	-0.9%	-8.2%	3.5%	4.5%	4.50%
FCF Margin	-16.5%	-2.3%	-7.9%	-6.2%	-2.7%	-3.8%	2.4%	4.3%	4.25%
OCF Margin	-12.2%	5.7%	-0.2%	1.7%	3.8%	0.4%	4.7%	4.8%	4.83%
ROIC Economic	snapshot only								-8.63%
Cash ROA	snapshot only								21.18%
Cash ROIC	snapshot only								79.52%
CROIC	snapshot only								70.06%
NOPAT Margin	snapshot only								-1.41%
Pretax Margin	snapshot only								-1.21%
R&D / Revenue	snapshot only								0.00%
SGA / Revenue	snapshot only								28.26%
SBC / Revenue	snapshot only								1.13%

Valuation

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
P/E Ratio	1259.67	-170.67	-29.56	-13.78	-5.47	-5.89	-13.43	-46.13	20.601
P/S Ratio	13.01	1.79	0.82	0.38	0.21	0.30	0.46	0.57	1.217
P/B Ratio	11.25	3.55	2.67	1.73	1.12	1.91	2.73	3.36	3.855
P/FCF	-78.77	-78.11	-10.28	-6.05	-7.97	-8.02	19.40	13.47	13.474
P/OCF	—	31.61	—	22.60	5.55	85.92	9.83	11.87	11.872
EV/EBITDA	518.38	827.65	-22.10	-17.14	-5.74	-5.66	-46.06	378.67	378.675
EV/Revenue	12.07	1.38	0.64	0.26	0.11	0.21	0.35	0.46	0.463
EV/EBIT	1003.66	-156.58	-16.28	-10.13	-2.99	-3.61	-11.37	-31.08	-31.083
EV/FCF	-73.14	-60.26	-8.08	-4.13	-4.17	-5.45	14.69	10.89	10.894
Earnings Yield	0.1%	-0.6%	-3.4%	-7.3%	-18.3%	-17.0%	-7.4%	-2.2%	-2.17%
FCF Yield	-1.3%	-1.3%	-9.7%	-16.5%	-12.5%	-12.5%	5.2%	7.4%	7.42%
PEG Ratio	snapshot only								0.137
Price/Tangible Book	snapshot only								3.497
EV/OCF	snapshot only								9.598
EV/Gross Profit	snapshot only								1.365
Shareholder Yield	snapshot only								1.30%

Leverage & Solvency

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
Current Ratio	5.08	2.95	3.71	3.01	2.93	4.63	3.64	4.09	4.085
Quick Ratio	5.08	3.92	3.71	3.01	2.93	4.63	3.64	4.09	4.085
Debt/Equity	0.02	0.02	0.02	0.01	0.00	0.00	0.01	0.08	0.075
Net Debt/Equity	-0.80	-0.81	-0.57	-0.55	-0.53	-0.61	-0.66	-0.64	-0.644
Debt/Assets	0.01	0.02	0.01	0.01	0.00	0.00	0.01	0.06	0.056
Debt/EBITDA	0.89	6.53	-0.16	-0.13	-0.03	-0.00	-0.24	10.45	10.452
Net Debt/EBITDA	-39.94	-245.16	6.03	7.96	5.23	2.67	14.77	-89.69	-89.692
Interest Coverage	—	-28.78	-115.47	-77.04	-319.33	-160.57	-122.90	-45.25	-45.250
Equity Multiplier	1.25	1.43	1.28	1.33	1.36	1.25	1.35	1.34	1.337
Cash Ratio	snapshot only								2.447
Debt Service Coverage	snapshot only								3.714
Cash to Debt	snapshot only								9.581
FCF to Debt	snapshot only								3.326
Defensive Interval	snapshot only								209.0 days

Efficiency & Turnover

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
Asset Turnover	0.69	1.38	2.56	3.44	4.17	4.28	4.24	4.30	4.298
Inventory Turnover	—	—	—	—	—	—	—	—	—
Receivables Turnover	2.54	6.66	7.79	16.14	12.92	17.84	11.04	17.44	17.442
Payables Turnover	2.34	6.78	8.17	27.27	11.99	33.18	11.89	20.67	20.669
DSO	144	55	47	23	28	20	33	21	20.9 days
DIO	0	-121	0	0	0	-22	0	0	0.0 days
DPO	156	54	45	13	30	11	31	18	17.7 days
Cash Conversion Cycle	-12	-120	2	9	-2	-12	2	3	3.3 days
Fixed Asset Turnover	snapshot only								69.503
Cash Velocity	snapshot only								8.161
Capital Intensity	snapshot only								0.228

Growth (YoY)

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
Revenue	—	—	—	—	5.6%	1.7%	60.4%	22.3%	22.33%
Net Income	—	—	—	—	-25.8%	-12.2%	-99.8%	44.6%	44.63%
EPS	—	—	—	—	-23.9%	-12.0%	-85.8%	48.2%	48.23%
FCF	—	—	—	—	-6.5%	-3.4%	1.5%	1.8%	1.83%
EBITDA	—	—	—	—	-6.5%	-59.5%	58.0%	1.1%	1.10%
Op. Income	—	—	—	—	-8.2%	-120.5%	-1.1%	-43.2%	-43.19%
OCF Growth	snapshot only								2.53%
Asset Growth	snapshot only								-3.99%
Equity Growth	snapshot only								-4.75%
Debt Growth	snapshot only								6.76%
Shares Change	snapshot only								6.97%

Growth Quality

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
Revenue Stability	—	—	—	—	—	—	—	—	—
Earnings Stability	—	—	—	—	—	—	—	—	—
Margin Stability	—	—	—	—	—	—	—	—	—
Rev. Growth Consistency	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	0.500
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.500
FCF Positive Streak	0	0	0	0	0	0	0	0	0
Earnings Persistence	—	—	—	—	—	—	—	—	—
Earnings Smoothness	—	—	—	—	—	—	—	—	—
ROE Trend	—	—	—	—	—	—	—	—	—
Gross Margin Trend	—	—	—	—	—	—	—	—	—
FCF Margin Trend	—	—	—	—	—	—	—	—	—
Sustainable Growth Rate	0.9%	—	—	—	—	—	—	—	—
Internal Growth Rate	0.7%	—	—	—	—	—	—	—	—

Cash Flow Quality

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
OCF/Net Income	-11.82	-5.40	0.07	-0.61	-0.98	-0.07	-1.37	-3.89	-3.885
FCF/OCF	1.35	-0.40	43.97	-3.73	-0.70	-10.72	0.51	0.88	0.881
FCF/Net Income	snapshot only								-3.423
OCF/EBITDA	snapshot only								39.452
CapEx/Revenue	4.3%	8.0%	7.8%	7.9%	6.5%	4.1%	2.2%	0.3%	0.27%
CapEx/Depreciation	snapshot only								0.166
Accruals Ratio	0.09	-0.09	-0.07	-0.15	-0.32	-0.24	-0.34	-0.26	-0.261
Sloan Accruals	snapshot only								0.100
Cash Flow Adequacy	snapshot only								17.996

Dividends & Buybacks

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	0.0%	—	—	—	—	—	—	—	—
FCF Payout Ratio	—	—	—	—	—	—	0.0%	0.0%	0.00%
Total Payout Ratio	0.0%	—	—	—	—	—	—	—	—
Div. Increase Streak	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	1.5%	1.5%	1.3%	1.30%
Net Buyback Yield	-8.9%	-25.7%	-33.2%	-51.4%	0.0%	1.5%	1.5%	1.3%	1.30%
Total Shareholder Return	-8.9%	-25.7%	-33.2%	-51.4%	0.0%	1.5%	1.5%	1.3%	1.30%

DuPont Factors

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
Tax Burden (NI/EBT)	1.00	1.07	0.69	1.05	1.03	0.90	1.16	1.03	1.025
Interest Burden (EBT/EBIT)	0.86	1.11	1.02	1.02	1.01	1.01	0.96	0.81	0.813
EBIT Margin	0.01	-0.01	-0.04	-0.03	-0.04	-0.06	-0.03	-0.01	-0.015
Asset Turnover	0.69	1.38	2.56	3.44	4.17	4.28	4.24	4.30	4.298
Equity Multiplier	1.25	1.43	1.28	1.33	1.30	1.35	1.31	1.33	1.332

Per Share

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
EPS (Diluted TTM)	$0.00	$-0.00	$-0.01	$-0.01	$-0.02	$-0.03	$-0.02	$-0.01	$-0.01
Book Value/Share	$0.10	$0.10	$0.10	$0.10	$0.10	$0.08	$0.08	$0.09	$0.12
Tangible Book/Share	$0.09	$0.09	$0.08	$0.07	$0.07	$0.08	$0.08	$0.09	$0.09
Revenue/Share	$0.08	$0.20	$0.33	$0.47	$0.52	$0.53	$0.50	$0.54	$0.40
FCF/Share	$-0.01	$-0.00	$-0.03	$-0.03	$-0.01	$-0.02	$0.01	$0.02	$0.03
OCF/Share	$-0.01	$0.01	$-0.00	$0.01	$0.02	$0.00	$0.02	$0.03	$0.04
Cash/Share	$0.08	$0.08	$0.06	$0.06	$0.05	$0.05	$0.06	$0.07	$0.10
EBITDA/Share	$0.00	$0.00	$-0.01	$-0.01	$-0.01	$-0.02	$-0.00	$0.00	$0.00
Debt/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.01	$0.01
Net Debt/Share	$-0.08	$-0.08	$-0.06	$-0.06	$-0.05	$-0.05	$-0.06	$-0.06	$-0.06

Academic Models

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
Altman Z-Score	—	—	—	—	—	—	—	—	10.695
Altman Z-Prime	snapshot only								13.843
Piotroski F-Score	2	3	2	3	4	5	5	5	5
Beneish M-Score	—	—	—	—	-0.28	-3.82	-4.26	-3.70	-3.704
Ohlson O-Score	snapshot only								-8.851
ROIC (Greenblatt)	snapshot only								-8.83%
Net-Net WC	snapshot only								$0.08
EVA	snapshot only								$-1712850.00

Credit

Metric	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Current
Credit Rating	snapshot only								BBB
Credit Score	81.14	53.90	59.02	62.40	62.02	63.17	65.16	55.47	55.475
Credit Grade	snapshot only								9
Credit Trend	snapshot only								-6.923
Implied Spread (bps)	snapshot only								275.000
Industry Credit Rank	snapshot only								33
Sector Credit Rank	snapshot only								41

MTEC.L LSE

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

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