Elixirr International – shares at 608p look good value ahead of next week’s Interims, with brokers targeting at twice the price
Mark Watson-Mitchell - 16.09.2026
Next Monday, 21st September, the £301m-capitalised Elixirr International (LON:ELIX) will declare its Interim Results – they will be good.
Elixirr has established itself as a global, award-winning consultancy challenging the ‘usual’ consultancies in delivering innovative and bespoke solutions to a repeat, globally recognised client base.
The firm provides tailored, research-driven solutions covering the full spectrum from boardroom strategy to execution.
It combines the expertise of consultants, entrepreneurs, and practitioners to help clients across diverse industries achieve lasting change and maintain a competitive edge.
Its core capabilities include Strategy & Transformation, Operational Excellence, Data & Technology, and Digital Experience.
The Company focuses on business model innovation, operational improvement, and leveraging emerging technologies like AI to drive growth and foster innovation for its clients.
In the First Half Year the group has indicated that:
"Across the period the group continued to see strong demand for commercial transformation and technology services, with further, significant growth in AI-related revenue."
The group’s shares, which have ranged from 580p to 906p over the last year, are currently trading at around the 608p level, which in my view offers investors a good upside.
The Business
Founded in 2009, Elixirr International is a UK-based global consulting firm working with clients across a diverse range of industries, markets and geographies.
It was quoted on the AIM market in 2020 and listed on the Main Market in July 2025.
The firm set out to be the 'challenger consultancy' and do things differently than the large corporate consultancies dominating the industry: working openly and collaboratively with clients from start to finish, delivering outcomes based on innovative thinking, not methodology, and treating each client's business like their own.
The Company is principally engaged in the provision of consulting services, delivering bespoke solutions to a globally recognised client base, including digital, data, artificial intelligence (AI), transformation and insights services.
The Company’s subsidiaries include Elixirr LLC, Insigniam LLC, Elixirr Consulting Limited, Elixirr Digital Limited, Hypothesis Group, LLC, The Retearn Group Ltd, Elixirr Inc., TRC Advisory, LLC and others, as well as subsidiaries or branches in South Africa, France, Jersey and Croatia.
Hypothesis helps companies better understand their customers by providing insights, competitor intelligence and strategic advice to inform the design of products and services.
Trading Update
On Monday 3rd August the Company reported a strong first-half 2026 performance, with revenue reaching £89.0m, a 25% increase over the prior year, despite a weakening USD/GBP exchange rate.
Adjusted EBITDA grew by 29% to £27.6m, and the Adjusted EBITDA margin improved to 31.0%.
The Company experienced significant growth in AI-related services, driven by demand for commercial transformation and technology solutions.
To support its expansion, particularly in the US market, Elixirr has appointed Canaccord Genuity Limited as a joint corporate broker, working alongside Cavendish Capital Markets.
Management Comment
Founder & CEO Stephen Newton stated that:
"Following more than 260% growth in AI-related revenue in FY 25, we have continued to see strong demand for our AI consulting services in H1 26.
External industry research estimates that agentic AI could generate up to $200bn of net new demand for technology services over the next five years and identifies businesses that help clients adopt, deploy and scale AI as 'AI enablers', a group positioned to benefit primarily through revenue growth.
Following our deliberate growth strategy over the past 6 years in consulting, AI, data and technology, we remain perfectly positioned to take a lead in this AI enabler group.
We are now actively supporting clients as they move from experimentation to scaled deployment.
For example, we have supported one of our multinational clients in launching a new 'AI-native' business in under 6 months, with the build of a new technology platform that will have 95%+ automation and reduce the cost to serve by over 60%.
We expect similar demand to continue to accelerate and Elixirr is well positioned to capture this expanding market opportunity.
Delivering more revenue and EBITDA in H1 26 than we did in full year FY 23 shows just how fast we are growing."
The Equity
There are some 50.85m shares in issue.
The larger holders include Investec Bank (Switzerland) AG (19.74%), Gresham House Asset Management Ltd. (Investment Management) (8.78%), Slater Investments Ltd. (6.14%), Rathbones Investment Management Ltd. (5.50%), Coutts & Co. (Private Banking) (1.61%), JPMorgan Asset Management (UK) Ltd. (1.53%), Janus Henderson Investors UK Ltd. (1.30%), Compagnia Investimenti e Sviluppo SpA (0.96%), River Global Investors LLP (0.88%), Canaccord Genuity Wealth Ltd. (0.87%), abrdn Investment Management Ltd. (0.73%), Grandeur Peak Global Advisors LLC (0.71%) and Gates Foundation Trust (Investment Management) (0.68%).
Broker Views
There are five firms closely following the group, each of them calling its shares as a Buy.
The average Target Price is 1151p, the Lowest set at 1050p, while the Highest is 1275p.
Analyst Guy Hewett, at Cavendish Capital Markets, rates the shares as a Buy, with a 1270p Target Price.
Hewett noted that the update increases confidence in continued delivery and reinforces the investment case: rapid growth, premium margins and an undemanding valuation.
He estimates that the current year to end-December will show revenues of £187.1m (£149.6m), with pre-tax profits of £51.6m (£41.0m), generating earnings of 67.5p (58.7p) and paying a dividend of 24.9p (22.6p) per share.
For 2027 he sees £200.1m revenues, £56.2m profits, 71.7p earnings and a 26.8p dividend.
The 2028-year revenue is estimated at £212.1m, with £60.3m profits, 75.4p earnings and a 28.5p dividend per share.
Analyst James Wood, at the recently appointed Joint Broker Canaccord Genuity Capital Markets, has an Initiation of Coverage Buy note out with a 1275p Target Price.
For this year he has £181.4m of revenues, with £49.0m profits, 63.6p earnings and a 24.2p dividend.
The 2027-year Wood estimates could see £195.9m sales, £53.8m profits, 67.7p earnings with a dividend of 25.7p per share.
In 2028 sales could be £209.9m, with £58.3m profits, 71.8p per share earnings and a 27.3p dividend.
He concludes:
“Elixirr is a rare quality compounder, combining fast growth, premium margins, strong cash generation and rising returns, yet at 9.7x P/E it trades ~10% below a de-rated professional services average, ~55% below a UK quality-growth basket.
We anchor to 20x P/E (CY26E) to reach a 1,275p target price, implying 106% upside to the share price, with room to re-rate further as execution builds.
We initiate coverage with BUY.”
My View
This group has GROWTH written all over it and its shares, now at 608p, offer substantial upside, with 750p being an easy early price objective.
(Profile 21.09.20 @ 227p set a Target Price of 285p*)
(Profile 06.02.23 @ 517.5p set a Target Price of 650p*)
(Profile 16.09.26 @ 608p set a Target Price of 750p)
Comments