Revenue growth remains under pressure with a 13.5% year-over-year contraction in 2026Q1, while gross margins struggle to exceed 26.1% due to volatile input costs.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|
| Sales/Revenue | 371.5M | 384.6M | 391.9M | 405M | 423.4M | 374.1M | 324.8M | 373.4M | 401.9M | 441.3M | 414.8M | 460.3M | 489.5M | 481.3M | 511.6M | 510.8M | 402.7M | 371.3M | 475.9M |
| Revenue Growth % | -7.01% | -1.86% | -3.23% | -4.35% | 13.18% | 15.18% | -13.02% | -7.09% | -8.93% | 6.39% | -9.88% | -5.97% | 1.7% | -5.92% | 0.16% | 26.84% | 8.46% | -21.98% | - |
| Cost of Goods Sold | 281.8M | 295.4M | 306.2M | 328.4M | 328.4M | 278.1M | 243.9M | 269.7M | 284M | 332.7M | 320.2M | 356.3M | 376.6M | 363.5M | 385.7M | 390.4M | 305.1M | 295.7M | 381.8M |
| COGS % of Revenue | - | 76.81% | 78.13% | 81.09% | 77.56% | 74.34% | 75.09% | 72.23% | 70.66% | 75.39% | 77.19% | 77.41% | 76.94% | 75.52% | 75.39% | 76.43% | 75.76% | 79.64% | 80.23% |
| Gross Profit | 89.7M | 89.2M | 85.7M | 76.6M | 95M | 96M | 80.9M | 103.7M | 117.9M | 108.6M | 94.6M | 104M | 112.9M | 117.8M | 125.9M | 120.4M | 97.6M | 75.6M | 94.1M |
| Gross Margin % | 24.15% | 23.19% | 21.87% | 18.91% | 22.44% | 25.66% | 24.91% | 27.77% | 29.34% | 24.61% | 22.81% | 22.59% | 23.06% | 24.48% | 24.61% | 23.57% | 24.24% | 20.36% | 19.77% |
| Gross Profit Growth % | - | 4.08% | 11.88% | -19.37% | -1.04% | 18.67% | -21.99% | -12.04% | 8.56% | 14.8% | -9.04% | -7.88% | -4.16% | -6.43% | 4.57% | 23.36% | 29.1% | -19.66% | - |
| Operating Expenses | 64.2M | 65.2M | 55.6M | 72.4M | 50.2M | 59.8M | 52.4M | 85M | 84.3M | 86.7M | 61.7M | 66.1M | 72M | 61.3M | 59.5M | 56.5M | 52.7M | 48.3M | 55.4M |
| OpEx % of Revenue | - | 16.95% | 14.19% | 17.88% | 11.86% | 15.98% | 16.13% | 22.76% | 20.98% | 19.65% | 14.87% | 14.36% | 14.71% | 12.74% | 11.63% | 11.06% | 13.09% | 13.01% | 11.64% |
| Selling, General & Admin | 47.9M | 49.1M | 48.1M | 48.7M | 43.1M | 47.3M | 39.8M | 49.7M | 60.8M | 68.1M | 56.2M | 60.5M | 67.8M | 60.4M | 57.3M | 56.9M | 51.9M | 47.2M | 52.7M |
| SG&A % of Revenue | - | 12.77% | 12.27% | 12.02% | 10.18% | 12.64% | 12.25% | 13.31% | 15.13% | 15.43% | 13.55% | 13.14% | 13.85% | 12.55% | 11.2% | 11.14% | 12.89% | 12.71% | 11.07% |
| Research & Development | 4.6M | 4.3M | 4.4M | 4.6M | 4.9M | 3.9M | 3.3M | 5.7M | 6.4M | 7.8M | 7.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 1.12% | 1.12% | 1.14% | 1.16% | 1.04% | 1.02% | 1.53% | 1.59% | 1.77% | 1.83% | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 3M | 11.8M | 3.1M | 19.1M | 2.2M | 8.6M | 9.3M | 29.6M | 23.4M | 10.8M | -2.1M | 5.6M | 4.2M | 900K | 2.2M | -400K | 800K | 1.1M | 2.7M |
| Operating Income | 22.6M | 24M | 30.1M | 4.2M | 44.8M | 36.2M | 28.5M | 18.7M | 33.6M | 21.9M | 32.9M | 37.9M | 40.9M | 56.5M | 66.4M | 63.9M | 44.9M | 27.3M | 38.7M |
| Operating Margin % | 6.08% | 6.24% | 7.68% | 1.04% | 10.58% | 9.68% | 8.77% | 5.01% | 8.36% | 4.96% | 7.93% | 8.23% | 8.36% | 11.74% | 12.98% | 12.51% | 11.15% | 7.35% | 8.13% |
| Operating Income Growth % | - | -20.27% | 616.67% | -90.63% | 23.76% | 27.02% | 52.41% | -44.35% | 53.42% | -33.43% | -13.19% | -7.33% | -27.61% | -14.91% | 3.91% | 42.32% | 64.47% | -29.46% | - |
| EBITDA | 29.4M | 33.9M | 43.5M | 20.2M | 62.8M | 51.8M | 41.8M | 31.9M | 50.6M | 40.2M | 51M | 56.5M | 59M | 72.3M | 81.1M | 78.4M | 58.7M | 41M | 53.4M |
| EBITDA Margin % | 7.91% | 8.81% | 11.1% | 4.99% | 14.83% | 13.85% | 12.87% | 8.54% | 12.59% | 9.11% | 12.3% | 12.27% | 12.05% | 15.02% | 15.85% | 15.35% | 14.58% | 11.04% | 11.22% |
| EBITDA Growth % | -36.23% | -22.07% | 115.35% | -67.83% | 21.24% | 23.92% | 31.03% | -36.96% | 25.87% | -21.18% | -9.73% | -4.24% | -18.4% | -10.85% | 3.44% | 33.56% | 43.17% | -23.22% | - |
| D&A (Non-Cash Add-back) | 6.8M | 9.9M | 13.4M | 16M | 18M | 15.6M | 13.3M | 13.2M | 17M | 18.3M | 18.1M | 18.6M | 18.1M | 15.8M | 14.7M | 14.5M | 13.8M | 13.7M | 14.7M |
| EBIT | 17.1M | 25.3M | 31.7M | -3.4M | 44.9M | 38.5M | 32.8M | 20.1M | 38.7M | 26.4M | 30.4M | 32.1M | 41.5M | 51.7M | 61.2M | 60.4M | 43.9M | 27M | 39M |
| Net Interest Income | -2.3M | -3.1M | -5.2M | -6.3M | -3.9M | -3.1M | -5M | -4.4M | -4.5M | -6.3M | -6M | -6.9M | -6.1M | -5.9M | -6.5M | -9M | -8.9M | -11.6M | -17.4M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100K | 400K | 300K | 300K | 500K | 500K | 300K | 200K | 200K | 200K | 200K | 300K |
| Interest Expense | 1.6M | 3.1M | 5.2M | 6.3M | 3.9M | 3.1M | 5M | 4.5M | 4.9M | 6.6M | 6.3M | 6.5M | 5.2M | 5M | 5.7M | 7.6M | 8.3M | 11.8M | 17.7M |
| Other Income/Expense | -2.3M | -1.8M | -3.6M | -13.9M | -3.8M | -800K | -800K | -2.4M | 200K | -2.1M | -8.8M | -12.3M | -4.6M | -9.8M | -10.9M | -11.1M | -9.3M | -12.1M | -17.4M |
| Pretax Income | 20.3M | 22.2M | 26.5M | -9.7M | 41M | 35.4M | 27.7M | 16.3M | 33.8M | 19.8M | 24.1M | 25.6M | 36.3M | 46.7M | 55.5M | 52.8M | 35.6M | 15.2M | 21.3M |
| Pretax Margin % | 5.46% | 5.77% | 6.76% | -2.4% | 9.68% | 9.46% | 8.53% | 4.37% | 8.41% | 4.49% | 5.81% | 5.56% | 7.42% | 9.7% | 10.85% | 10.34% | 8.84% | 4.09% | 4.48% |
| Income Tax | -12.7M | -9.1M | 8.2M | -7.1M | 9M | 5.4M | 6.9M | 7.6M | 6.5M | 3.3M | 6.8M | 9.5M | 7.1M | 12.6M | 16M | 12.5M | 9.9M | 5.7M | 8.2M |
| Effective Tax Rate % | -62.56% | -40.99% | 30.94% | 73.2% | 21.95% | 15.25% | 24.91% | 46.63% | 19.23% | 16.67% | 28.22% | 37.11% | 19.56% | 26.98% | 28.83% | 23.67% | 27.81% | 37.5% | 38.5% |
| Net Income | 29.4M | 31.3M | 18.4M | -1.9M | 26.9M | 29.9M | 20M | 3.1M | 25M | 11.5M | 21.9M | 16.1M | 29.2M | 34.1M | 42.4M | 43.4M | 25.7M | 9.54M | 12.9M |
| Net Margin % | 7.91% | 8.14% | 4.7% | -0.47% | 6.35% | 7.99% | 6.16% | 0.83% | 6.22% | 2.61% | 5.28% | 3.5% | 5.97% | 7.08% | 8.29% | 8.5% | 6.38% | 2.57% | 2.71% |
| Net Income Growth % | 38.68% | 70.11% | 1068.42% | -107.06% | -10.03% | 49.5% | 545.16% | -87.6% | 117.39% | -47.49% | 36.02% | -44.86% | -14.37% | -19.58% | -2.3% | 68.87% | 169.38% | -26.04% | - |
| Net Income (Continuing) | 29.4M | 31.3M | 18.3M | -2.6M | 32M | 30M | 20.8M | 8.7M | 27.7M | 16.6M | 17.8M | 16.1M | 29.2M | 34.1M | 39.5M | 40.3M | 25.7M | 9.5M | 13.1M |
| Discontinued Operations | 200K | 0 | 100K | 700K | -5.1M | -100K | -800K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.4M |
| EPS (Diluted) | 1.10 | 1.15 | 0.69 | -0.07 | 0.98 | 1.07 | 0.72 | 0.09 | 0.90 | 0.43 | 0.67 | 0.59 | 0.31 | 2.43 | 3.88 | 4.35 | 0.96 | 0.96 | 1.32 |
| EPS Growth % | 37.61% | 66.67% | 1081.51% | -107.17% | -8.41% | 48.61% | 736.24% | -90.43% | 109.3% | -35.82% | 13.56% | 90.32% | -87.24% | -37.37% | -10.8% | 353.13% | 0% | -27.49% | - |
| EPS (Basic) | - | 1.17 | 0.69 | -0.07 | 0.99 | 1.08 | 0.73 | 0.09 | 0.94 | 0.43 | 0.67 | 0.60 | 1.09 | 1.27 | 3.95 | 4.39 | 0.97 | 0.97 | 1.33 |
| Diluted Shares Outstanding | 26.8M | 27.16M | 26.8M | 27.02M | 27.54M | 28.03M | 27.97M | 27.88M | 27.69M | 27M | 26.65M | 27.37M | 27.74M | 14.02M | 10.93M | 9.98M | 9.92M | 9.89M | 9.89M |
| Basic Shares Outstanding | 26.63M | 26.75M | 26.81M | 26.9M | 27.3M | 27.7M | 27.56M | 27.29M | 26.71M | 26.46M | 26.44M | 26.92M | 26.89M | 26.82M | 10.74M | 9.88M | 9.85M | 9.82M | 9.82M |
| Dividend Payout Ratio | - | 44.41% | 76.09% | - | 52.79% | 45.48% | 68% | 438.71% | 53.6% | 115.65% | 60.73% | 67.08% | 36.99% | 31.67% | 13.68% | - | - | - | - |
Cyclical volume and margin volatility
As indicated by the most recent quarterly data, Luxfer's revenue has experienced a 13.5% year-over-year decline in 2026Q1, reflecting a broader trend of decelerating top-line performance that has persisted across several consecutive reporting periods, signaling significant headwinds in the company's core industrial and cylinder end-markets.
The consistent revenue contraction suggests that the company is struggling to offset cyclical weakness in its primary industrial segments with its specialty material offerings. Investors should monitor whether this trend represents a structural shift in demand or merely a temporary lull in municipal and defense procurement cycles.
According to historical income statement filings, Luxfer's gross margin has fluctuated within a narrow band, reaching 26.1% in 2026Q1, which highlights the company's ongoing struggle to maintain pricing power amidst volatile raw material costs for magnesium and carbon fiber inputs in its manufacturing processes.
While the recent uptick in gross margin is a positive development, it remains highly sensitive to commodity price fluctuations that the company cannot always pass through to customers. The lack of consistent margin expansion suggests that the current product mix may not yet be sufficiently weighted toward higher-margin specialty applications.
Based on reported financial figures, Luxfer's operating margin of 7.4% in 2026Q1 demonstrates that fixed overhead costs continue to exert significant pressure on profitability, as the company has failed to scale operating income effectively during periods of revenue volatility, leaving little room for operational error.
The narrow operating margin indicates that the company's cost structure is not sufficiently flexible to absorb revenue declines without significant impact on the bottom line. This lack of operating leverage warrants further investigation into whether management can successfully optimize the manufacturing footprint to improve long-term efficiency.
As evidenced by the erratic net income figures, including a significant $20.5 million spike in 2025Q4 followed by a return to $3.6 million in 2026Q1, the quality of reported earnings appears compromised by non-operating items and periodic restructuring charges that complicate a clear assessment of core profitability.
The wide variance in net income suggests that investors should focus more on operating income trends rather than headline EPS, which may be distorted by one-time accounting adjustments. The recurring nature of these charges implies that the company's reported earnings may not accurately reflect the underlying cash-generating capability of the business.
Data from recent financial statements reveals a thin liquidity buffer, with cash and equivalents totaling only $8.3 million, which may limit the company's ability to navigate prolonged industrial downturns or fund necessary capital expenditures without increasing its reliance on external financing or debt markets.
Short-sellers might focus on the combination of declining revenue and limited cash reserves as a potential indicator of future operational distress. The company's inability to generate consistent, high-quality growth in its core segments raises questions about the long-term sustainability of its current business model in a competitive industrial landscape.
Quick answers to the most common questions about buying LXFR stock.
For fiscal year 2025, Luxfer Holdings PLC (LXFR) reported total revenue of $384.6M. This represents a 19.2% decline compared to $475.9M in 2008.
Luxfer Holdings PLC (LXFR) is profitable, generating $31.3M in net income for the fiscal year ending 2025 with a net profit margin of 8.1%.
Luxfer Holdings PLC (LXFR) reported an operating income of $24.0M, resulting in an operating profit margin of 6.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Luxfer Holdings PLC (LXFR) generated $89.2M in gross profit for the year, representing a gross profit margin of 23.2%. This demonstrates the company's core pricing power and production efficiency.