Valuation disconnect17 Apr 2026 18:29
At a current market capitalization of around £60 million, Ensilica trades at a forward price-to-sales multiple of roughly 2x - strikingly low compared with peers in the ASIC and satcom spaces that often command 5–13x.
For a company with proven execution, world-class partnerships, and a scalable engineering team across the UK, India, and Brazil, this valuation appears significantly undervalued relative to its medium-term potential to exceed £100 million in annual revenue and deliver substantially higher margins.