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IQE and the £630m customer? Crackers valuation metrics - sheer insanity

By Tom Winnifrith | Thursday 28 June 2018


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Two years ago today, IQE (IQE) was trading at 17p per share, valuing the company at c. £120 million. Today the shares are nearly 6x higher at 100p per share, valuing the business at £750 million; an astonishing £630 million increase in value. And yet IQE’s most recent filing (year to 31 Dec 2017), reveals a company where, were it not for one new major customer, the remaining business would have demonstrated declining revenue and profit.

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