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Aberdeen Asia Focus PLC (AAS) Fair Value & Analysis

Financial Services · GB · Market cap 590M GBX

AA Aberdeen Asia Focus PLC AAS · LSE
Price£4.32
Fair Value£5.69
Upside+31.7%
Quality74/100
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Mixed Growth
Highly profitable · 92.9% net margin
Low debt · generates free cash flow
1.46% dividend yield
Mixed vs. peers (8/14)
Wide moat 82/100
Evidence: High Range £4.26 – £7.11 Share as image

Fair value as of: Jul 18, 2026

From 12 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from £5.63 to £5.69 (+1.1%) since Jun 26, 2026.

A solid business, screening 32% undervalued on our models.

What matters now

  • The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

£4.49 £2.03 Fair Value £5.69 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range £2.03 – £4.49 · fair‑value band £4.26 – £7.11 · the £4.32 price screens below the £5.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Aberdeen Asia Focus PLC (AAS) currently trades at £4.32, while our model-based Fair Value estimate is £5.69, implying the stock looks roughly 31.7% undervalued today. The Quality Score stands at 74/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Aberdeen Asia Focus PLC generated revenue of £123M at a net margin of 92.9%. Revenue grew 62.4% year over year. It earns a return on equity of 20.5%. Net debt stands at £52.3M. Fundamentals as of Jul 18, 2026

Our scenario range runs from £4.26 (bear case) to £7.11 (bull case); at £4.32, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at 32%, AAS screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF £0.2400 £0.6900 £1.41 80
Residual Income £3.92 £5.12 £14.45 76
Rev-Margin DCF £0.6400 £1.55 £3.43 74
All 12 models by family
DCF Models
5Y P/E Exit £4.23 £11.20 £20.92 38
10Y P/E Exit £2.92 £8.80 £18.90 35
Earnings-Based
Graham-Dodd £4.45 £31.00 £43.51 54
Lynch FV £16.02 £22.88 £29.75 50
Dividend Discount
Gordon GGM £0.6200 £1.12 £1.55 70
DDM Multi-Stage £0.6200 £1.03 £1.20 61
Multiples
P/E Multiple £6.37 £8.50 £10.62 63
P/B Multiple £4.26 £5.69 £7.11 55
Asset-Based
NCAV (Graham) £2.03 £2.72 £4.06 50
Growth DCF
Growth DCF £0.2400 £0.6900 £1.41 80
Rev-Margin DCF £0.6400 £1.55 £3.43 74
Economic Profit
Residual Income £3.92 £5.12 £14.45 76

Widest divergence: Earnings-Based (£22.88) versus Growth DCF (£0.6900). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 123M GBX
Revenue growth (YoY) +62.4%
Net margin 92.9%
Return on equity 20.5%
Free cash flow 6.7M GBX FY2025
P/E ratio 5.7
More key figures
Operating margin 95.8%
EPS (TTM) £0.7700
Dividend yield 1.5%
EPS growth (YoY) +91.6%
Net debt 52.3M GBX FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 66 · Market factors (momentum, volatility) 73

Profitability 54
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Aberdeen Asia Focus PLC operates as an investment trust that invests in a portfolio of smaller companies in Japan, Asia, and Australasia.

Full company description

Aberdeen Asia Focus PLC operates as an investment trust that invests in a portfolio of smaller companies in Japan, Asia, and Australasia. The trust invests in companies operating in various sectors, including auto components; beverages; chemicals; commercial banks; containers and packaging; diversified financial services; food and staples retailing; hotels, restaurants, and leisure; industrial conglomerates; multiline retail; paper and forest products; real estate; and transportation infrastructure. The company was formerly known as Aberdeen Asian Smaller Companies Investment Trust PLC. Aberdeen Standard Investments (Asia) Limited serves as the manager of the trust. Aberdeen Asia Focus PLC was founded in 1995 and is based in London, the United Kingdom.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Aberdeen Asia Focus PLC reported revenue of £94.8M in FY2025 versus £152M in FY2021, a compound −11.2%/yr. Reported net income was £89.9M in FY2025, compounding −11.5%/yr from FY2021.

Growth Quality 69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
£94.8M
Latest YoY
+87.7%
Avg. growth/yr (21Y)
+12.0%
Revenue −11.2%/yr
FY21 £152M
FY22 −£9.3M
FY23 £40.0M
FY24 £50.5M
FY25 £94.8M
Net income −11.5%/yr
FY21 £146M
FY22 −£11.0M
FY23 £35.2M
FY24 £37.3M
FY25 £89.9M

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Cite: Fair Value Calculator (2026). "Aberdeen Asia Focus PLC Fair Value". https://www.fairvalue-calculator.com/stock/AAS

Peer Group

Asset Management · 973 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 73 · Top 25%
Fair Value upside +32% · Above median
Return on equity (TTM) 21% · Top 25%
Return on assets 12% · Top 25%
Net margin (TTM) 93% · Top 25%
Operating margin (TTM) 96% · Top 25%
Revenue growth 62% · Top 25%
Dividend yield (TTM) 1.5% · Below median
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 5.6× · Cheaper than 75% of peers
P/B 1.43× · Pricier than 75% of peers
P/S (TTM) 6.48× · Pricier than median
P/FCF 118.4× · Pricier than 75% of peers
EV/EBITDA 9.3× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 76 · sector 37
FUTURE 100 · sector 6
PAST 82 · sector 26
HEALTH 94 · sector 95
DIVIDEND 29 · sector 69

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Fondul Proprietatea SA FP $0.0420 $0.0800 +90%
BlackRock, Inc BLK $1,136 $465.75 -59%
Blackstone Inc BX $124.56 $16.35 -87%
Investor AB INVEB kr 423.70 kr 847.40 +100%
Brookfield Corporation BN C$62.45 C$10.12 -84%
KKR & Co KKR $100.94 $44.88 -56%
AB Industrivärden INDUA kr 532.50 kr 1,065 +100%
Jio Financial Services Limited JIOFIN ₹242.98 ₹40.19 -83%
Hedef Holding HEDEF 267.25 TRY 320.98 TRY +20%
Bajaj Holdings BAJAJHLDNG ₹10,398 ₹9,202 -12%

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Frequently asked questions

Is Aberdeen Asia Focus PLC (AAS) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of £5.69 versus a price of £4.32, about +32% (undervalued).
What is the fair value of AAS?
Our model-based fair value for Aberdeen Asia Focus PLC is £5.69 (as of Jul 18, 2026), built from audited fundamentals. The current price is £4.32.
What is the quality score of AAS?
Aberdeen Asia Focus PLC has a Quality Score of 74/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Aberdeen Asia Focus PLC (AAS)?
Aberdeen Asia Focus PLC reported trailing-twelve-month revenue of about £123M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of AAS?
The net profit margin of Aberdeen Asia Focus PLC is about 92.9%, meaning it keeps roughly 92.9% of revenue as net income. Based on the latest reported figures.
Does Aberdeen Asia Focus PLC pay a dividend?
Aberdeen Asia Focus PLC currently shows a dividend yield of about 1.45% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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