Our leading technology and customer-centric, market-focused strategy provide a strong platform from which to deliver sustainable growth, margin expansion and enhanced shareholder returns. Our investment case is centred around the following key characteristics.
Purpose driven, with differentiated, innovative technologies providing high value add to customers
- Clear purpose to accelerate the breakthroughs that create a brighter future for our world is well aligned with global mega trends.
- Competitive advantage built on 60-year brand heritage and broad technology base spanning all scientific disciplines, placing Oxford Instruments in a unique position to anticipate global drivers and connect academic and commercial customers, acting as a catalyst that powers real world progress.
- Value-add products and services accelerating customers’ progress across the technology development and production cycle.
Leading positions in attractive structural growth markets
- Leadership in specialist technologies and embedded positions across three primary end markets with long-term structural growth drivers: materials analysis, semiconductors, and healthcare & life science (together, c.90% of revenues).
- Diverse commercial and academic customer base spanning the world’s leading companies and scientific research communities, primarily across Asia, North America and Europe.
Purpose and impact commitments key to attracting high-quality talent and customers which are creating a more sustainable planet
- Strong attraction and retention of outstanding people with deep expertise, and a highly experienced management team, reflect our
compelling purpose and ongoing investment in talent. - Technologies critical to customer efforts to optimise the use of resources, advance the green transition, develop drug delivery, and sustainably power an increasingly digital world.
- Building on our strong responsible business foundations through six initiatives: progress to net zero (Scopes 1 and 2 by 2030; Scope 3 by 2045); environmental impact; operating responsibly; sustainable product stewardship; inclusive culture; and community and connection.
Track record of delivery, driving returns
- Revenue CAGR of 8.4% over the last five years, supporting strong 2023/24 ROCE of 29.1% and a progressive dividend, with growth of 6.7% in 2023/24.
- Complemented by value-accretive acquisitions; most recently, WITec, First Light Imaging and FemtoTools
Clear opportunities to accelerate growth and enhance margins
- Strong order book and pipeline provide a positive underpin for continued growth.
- Attractive opportunities to accelerate growth through existing product portfolio, new product pipeline, servicing offer, and selective M&A.
- Margin enhancement opportunities through operational and supply chain optimisation, synergies across the Group and enhanced customer experience.
Strong balance sheet and attractive financial profile supporting investment in growth
- High margin and cash generative with a strong balance sheet with significant net cash.
- Well positioned to invest in expanding operational capacity and infrastructure (recent investments in state-of-the-art facilities in
Bristol and Belfast), new product development (8–9% of revenue annually), and selected acquisitions.
