Cavendish plc (LON:CAV) continues to make steady progress while much of the market waits for conditions to improve. Analyst Jason Streets highlights the firm’s strong balance sheet, strategic position and successful merger integration as key advantages in a difficult small-cap advisory environment. Despite softer M&A activity and broader uncertainty, the investment bank—formed from the 2023 FinnCap–Cenkos merger—has delivered slightly higher revenue and a £2m adjusted pre-tax profit, supported by £20m in cash and a stable dividend. With forecasts intact and potential upside to 18p, Cavendish may merit closer attention as confidence and deal flow recover.
Cavendish plc is a UK investment bank focused on companies with market caps under £1 billion. Formed from the 2023 merger of FinnCap and Cenkos, it operates across public and private markets, advising on capital raising, M&A, and providing research and trading services. Its revenue comes from advisory fees, trading income, and recurring retainers — a blend that offers both stability and upside in cyclical markets.
