ValueScreener
Balance sheetRatio

72 London Stock Exchange companies holding more cash than all their debt

72companies

Cash and equivalents exceed every borrowing on the balance sheet, so net debt measured against earnings is negative.

Stocks · Non-US shares · London Stock Exchange (LSE) · Ranked by Net debt to EBITDA in times, most cash on the balance sheet first · Rebuilt 2026-11-07 at 09:25 UTC

How this list is built

Net debt is every borrowing on the newest filed balance sheet less cash and equivalents, over EBITDA from the same year's income statement. The list is ordered by how much of the balance sheet is cash, because a near-zero EBITDA makes the ratio enormous without making the company any richer. The screen: companies listed on London Stock Exchange, graded A or B for the quality of what they report; a median daily traded value of at least 250,000 US dollars over 90 sessions, stated in each listing's own currency, so a company nobody can trade is never on the list; and no positive price to earnings under 1, which no real company earns, and no close sitting the whole of its own 52-week high below that high, which no listing that still trades can do. 379 companies passed tonight. Each market is ranked on its own and never added to another. Figures as recomputed on 2026-11-07.

The list

50 of 72 companies
Owes less than it holds in cash, ranked by Net debt to EBITDA, most cash on the balance sheet first
#CompanyMarketSectorNet debt to EBITDA, in timesDebt to equity, in ratioCurrent ratio, in ratioTangible equity ratio, in ratioNet debt to EBITDA over timeSource
1LSE:SMINSmiths Group plcLSEIndustrials-4.6x0.462.770.47
Net debt to EBITDA, net debt to ebitda: 1.23 on 2017-07-31 to -4.59 on 2026-07-31, down 473%.
Source n/a
2LSE:POLRPolar Capital Holdings plcLSEFinancial Services-1.9x0.032.530.61

n/a

Source n/a
3LSE:MTECMade Tech Group PlcLSETechnology-2.4x0.043.820.74
Net debt to EBITDA, net debt to ebitda: -3.60 on 2025-05-31 to -2.39 on 2026-05-31, up 34%.
Source n/a
4LSE:JET2Jet2 plcLSEConsumer Cyclical-2.8x0.621.360.30
Net debt to EBITDA, net debt to ebitda: 0.17 on 2017-03-31 to -2.75 on 2026-03-31, down 1718%.
Source n/a
5LSE:KIEKier Group plcLSEIndustrials-0.3x3.610.90-0.02
Net debt to EBITDA, net debt to ebitda: 1.26 on 2018-06-30 to -0.28 on 2026-06-30, down 122%.
Source n/a
6LSE:OTBOn the Beach Group plcLSEConsumer Cyclical-5.4x0.011.280.23
Net debt to EBITDA, net debt to ebitda: -2.20 on 2016-09-30 to -5.37 on 2025-09-30, down 144%.
Source n/a
7LSE:FNXFonix Mobile plcLSETechnology-1.8x0.0021.170.14
Net debt to EBITDA, net debt to ebitda: -1.99 on 2019-06-30 to -1.76 on 2026-06-30, up 12%.
Source n/a
8LSE:NICLNichols plcLSEConsumer Defensive-1.5x0.053.630.72
Net debt to EBITDA, net debt to ebitda: -1.15 on 2018-12-31 to -1.51 on 2025-12-31, down 31%.
Source n/a
9LSE:BVXPBioventix PLCLSEHealthcare-0.5x0.0018.530.89
Net debt to EBITDA, net debt to ebitda: -1.00 on 2018-06-30 to -0.54 on 2026-06-30, up 46%.
Source n/a
10LSE:FOUR4imprint Group plcLSECommunication Services-0.7x0.022.160.62
Net debt to EBITDA, net debt to ebitda: -5.62 on 2020-12-31 to -0.67 on 2025-12-31, up 88%.
Source n/a
11LSE:FDMFDM Group (Holdings) plcLSETechnology-0.8x0.382.480.49
Net debt to EBITDA, net debt to ebitda: -0.44 on 2023-12-31 to -0.84 on 2025-12-31, down 91%.
Source n/a
12LSE:GAWGames Workshop Group PLCLSEConsumer Cyclical-0.4x0.173.630.70
Net debt to EBITDA, net debt to ebitda: -0.37 on 2017-05-31 to -0.39 on 2026-05-31, down 5%.
Source n/a
13LSE:YUYü Group PLCLSEUtilities-1.8x0.111.360.34
Net debt to EBITDA, net debt to ebitda: -6.63 on 2017-12-31 to -1.81 on 2025-12-31, up 73%.
Source n/a
14LSE:COSTCostain Group PLCLSEIndustrials-3.1x0.101.440.41
Net debt to EBITDA, net debt to ebitda: -3.28 on 2017-12-31 to -3.12 on 2025-12-31, up 5%.
Source n/a
15LSE:LSLLSL Property Services plcLSEReal Estate-0.7x0.562.250.26
Net debt to EBITDA, net debt to ebitda: -0.30 on 2021-12-31 to -0.69 on 2025-12-31, down 130%.
Source n/a
16LSE:ASHMAshmore Group PLCLSEFinancial Services-2.6x0.02740.500.72

n/a

Source n/a
17LSE:FEVRFevertree Drinks PLCLSEConsumer Defensive-2.4x0.023.570.72
Net debt to EBITDA, net debt to ebitda: -0.76 on 2016-12-31 to -2.37 on 2025-12-31, down 212%.
Source n/a
18LSE:TSTLTristel PLCLSEHealthcare-0.6x0.164.000.68

n/a

Source n/a
19LSE:JHDJames Halstead plcLSEBasic Materials-1.2x0.053.870.75
Net debt to EBITDA, net debt to ebitda: -1.21 on 2020-06-30 to -1.22 on 2026-06-30, down 1%.
Source n/a
20LSE:BBYBalfour Beatty plcLSEIndustrials-2.7x0.901.020.01
Net debt to EBITDA, net debt to ebitda: 0.74 on 2016-12-31 to -2.71 on 2025-12-31, down 466%.
Source n/a
21LSE:KNOSKainos Group plcLSETechnology-1.4x0.061.170.21
Net debt to EBITDA, net debt to ebitda: -1.58 on 2024-03-31 to -1.38 on 2026-03-31, up 13%.
Source n/a
22LSE:GFRDGalliford Try Holdings PLCLSEIndustrials-2.9x0.350.940.04
Net debt to EBITDA, net debt to ebitda: -0.09 on 2017-06-30 to -2.85 on 2026-06-30, down 3067%.
Source n/a
23LSE:IGRIG Design Group plcLSEConsumer Cyclical-1.6x0.333.030.52
Net debt to EBITDA, net debt to ebitda: 1.12 on 2016-03-31 to -1.62 on 2026-03-31, down 245%.
Source n/a
24LSE:FDEVFrontier Developments plcLSETechnology-0.7x0.173.500.56
Net debt to EBITDA, net debt to ebitda: -0.99 on 2017-05-31 to -0.74 on 2026-05-31, up 25%.
Source n/a
25LSE:PAYPayPoint plcLSETechnology-0.1x1.920.96-0.43
Net debt to EBITDA, net debt to ebitda: -0.38 on 2020-03-31 to -0.09 on 2026-03-31, up 76%.
Source n/a
26LSE:RATRathbones Group PlcLSEFinancial Services-4.5x0.15190.820.10

n/a

Source n/a
27LSE:CNACentrica plcLSEUtilities-0.3x0.931.450.15
Net debt to EBITDA, net debt to ebitda: 1.42 on 2016-12-31 to -0.26 on 2025-12-31, down 118%.
Source n/a
28LSE:CMCXCMC Markets plcLSEFinancial Services-1.3x0.2516.940.43

n/a

Source n/a
29LSE:ELCOEleco plcLSETechnology-2.1x0.041.00-0.12
Net debt to EBITDA, net debt to ebitda: 0.47 on 2016-12-31 to -2.12 on 2025-12-31, down 551%.
Source n/a
30LSE:CNECapricorn Energy PLCLSEEnergy-1.4x0.122.440.72
Net debt to EBITDA, net debt to ebitda: 0.37 on 2017-12-31 to -1.45 on 2025-12-31, down 492%.
Source n/a
31LSE:PRNPrinces Group plcLSEConsumer Defensive-1.3x0.262.000.52
Net debt to EBITDA, net debt to ebitda: 4.69 on 2016-03-31 to -1.32 on 2025-12-31, down 128%.
Source n/a
32LSE:APNApplied Nutrition PlcLSEConsumer Defensive-0.5x0.063.880.72
Net debt to EBITDA, net debt to ebitda: -0.41 on 2022-07-31 to -0.52 on 2025-07-31, down 27%.
Source n/a
33LSE:MGNSMorgan Sindall Group plcLSEIndustrials-1.8x0.181.180.24
Net debt to EBITDA, net debt to ebitda: -4.42 on 2016-12-31 to -1.79 on 2025-12-31, up 60%.
Source n/a
34LSE:CNCConcurrent Technologies PlcLSETechnology-1.2x0.053.640.65
Net debt to EBITDA, net debt to ebitda: -2.19 on 2020-12-31 to -1.16 on 2025-12-31, up 47%.
Source n/a
35LSE:FSGForesight Group Holdings LimitedLSEFinancial Services-0.2x0.3382.340.33

n/a

Source n/a
36LSE:JNEOJourneo plcLSEIndustrials-1.4x0.071.530.16
Net debt to EBITDA, net debt to ebitda: 0.40 on 2020-12-31 to -1.41 on 2025-12-31, down 452%.
Source n/a
37LSE:BYITBytes Technology Group plcLSETechnology-1.5x0.021.050.08
Net debt to EBITDA, net debt to ebitda: -1.41 on 2020-02-28 to -1.46 on 2026-02-28, down 4%.
Source n/a
38LSE:KEYSKeystone Law Group plcLSEIndustrials-0.7x0.081.590.35
Net debt to EBITDA, net debt to ebitda: 3.02 on 2017-01-31 to -0.71 on 2026-01-31, down 124%.
Source n/a
39LSE:OXIGOxford Instruments plcLSETechnology-0.8x0.131.830.52
Net debt to EBITDA, net debt to ebitda: 10.93 on 2017-03-31 to -0.75 on 2026-03-31, down 107%.
Source n/a
40LSE:SLPSylvania Platinum LimitedLSEBasic Materials-0.6x0.0025.320.82
Net debt to EBITDA, net debt to ebitda: -0.74 on 2021-06-30 to -0.61 on 2026-06-30, up 18%.
Source n/a
41LSE:SCTSoftcat plcLSETechnology-0.7x0.101.390.30
Net debt to EBITDA, net debt to ebitda: -0.77 on 2023-07-31 to -0.71 on 2026-07-31, up 8%.
Source n/a
42LSE:MEGPME Group International plcLSEIndustrials-0.1x0.201.540.60
Net debt to EBITDA, net debt to ebitda: -1.08 on 2016-04-30 to -0.11 on 2025-10-31, up 90%.
Source n/a
43LSE:AOAO World plcLSEConsumer Cyclical-0.2x0.371.090.31
Net debt to EBITDA, net debt to ebitda: -120.00 on 2017-03-31 to -0.21 on 2026-03-31, up 100%.
Source n/a
44LSE:RRRolls-Royce Holdings plcLSEIndustrials-0.4x1.571.11-0.06
Net debt to EBITDA, net debt to ebitda: 0.11 on 2017-12-31 to -0.43 on 2025-12-31, down 491%.
Source n/a
45LSE:BKGBerkeley Group Holdings PLCLSEConsumer Cyclical-0.8x0.183.580.56
Net debt to EBITDA, net debt to ebitda: -2.20 on 2020-04-30 to -0.80 on 2026-04-30, up 64%.
Source n/a
46LSE:EVPLEverplay Group PlcLSETechnology-0.8x0.012.820.60
Net debt to EBITDA, net debt to ebitda: 5.69 on 2016-12-31 to -0.77 on 2025-12-31, down 114%.
Source n/a
47LSE:CBKDCommercial International Bank (Egypt) S.A.ELSEFinancial Services-1.7x0.150.200.16

n/a

Source n/a
48LSE:CCCComputacenter plcLSETechnology-1.3x0.231.170.16
Net debt to EBITDA, net debt to ebitda: -1.00 on 2016-12-31 to -1.25 on 2025-12-31, down 25%.
Source n/a
49LSE:FRPFRP Advisory Group plcLSEFinancial Services-0.4x0.0945.410.54

n/a

Source n/a
50LSE:DXRXDiaceutics PLCLSEHealthcare-1.0x0.033.430.72
Net debt to EBITDA, net debt to ebitda: -141.22 on 2020-12-31 to -1.02 on 2025-12-31, up 99%.
Source n/a

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