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Aberforth Smaller Companies Trust Plc (ASL) Fair Value & Analysis

Financial Services · GB · Market cap 1.3B GBX

AS Aberforth Smaller Companies Trust Plc ASL · LSE
Price£16.16
Fair Value£20.96
Upside+29.7%
Quality95/100
Evidence: High Range £15.72 – £26.20

Fair value as of: Jun 26, 2026

From 22 valuation models · updated 3 days ago

Share price −0.5% over the past month.

Price vs Fair Value (12 months)

£17.08 £14.16 Fair Value £20.96 Jun 2025 Jun 2026

12‑month range £14.16 – £17.08 · fair‑value band £15.72 – £26.20 · the £16.16 price screens below the £20.96 fair value. As of Jun 26, 2026.

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Analysis

Aberforth Smaller Companies Trust Plc (ASL) currently trades at £16.16, while our model-based Fair Value estimate is £20.96 — implying the stock looks roughly 29.7% undervalued today. We read business quality at 95/100 (high 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, Aberforth Smaller Companies Trust Plc generated revenue of £114M at a net margin of 84.3%. Revenue declined 50.2% year over year. It earns a return on equity of 6.9%. Net debt stands at £69.8M. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 114M GBX
Revenue growth (YoY) -50.2%
Net margin 84.3%
Return on equity 6.9%
Free cash flow 47.5M GBX FY2025
P/E ratio 13.1
More key figures
Operating margin 73.7%
EPS (TTM) £1.18
Dividend yield 2.9%
EPS growth (YoY) -51.5%
Net debt 69.8M GBX FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

Aberforth Smaller Companies Trust Plc is a closed-ended equity mutual fund launched and managed by Aberforth Partners LLP. The fund invests in public equity markets of the United Kingdom. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in value stocks of small-cap companies. It employs fundamental analysis with both bottom-up and top-down stock picking approaches with the focus on factors like businesses financial statements and assessment of their market positions to create its portfolio. The fund benchmarks the performance of its portfolio against the Numis Smaller Companies Index (Excluding Investment Companies). Aberforth Smaller Companies Trust Plc was formed on December 10, 1990 and is domiciled in the United Kingdom.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Aberforth Smaller Companies Trust Plc reported revenue of £114M in FY2025 versus £371M in FY2021, a compound −25.5%/yr. Reported net income was £96.2M in FY2025, compounding −28.5%/yr from FY2021.

Revenue −25.5%/yr
FY21 £371M
FY22 £110M
FY23 £102M
FY24 £169M
FY25 £114M
Net income −28.5%/yr
FY21 £368M
FY22 −£157M
FY23 £99.0M
FY24 £152M
FY25 £96.2M

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Frequently asked questions

Is Aberforth Smaller Companies Trust Plc (ASL) undervalued?
As of Jun 26, 2026, our model estimates a fair value of £20.96 versus a price of £16.16 — about +30% (undervalued). Model-based estimate, not financial advice.
What is the fair value of ASL?
Our 21-model fair value for Aberforth Smaller Companies Trust Plc is £20.96 (as of Jun 26, 2026), built from audited fundamentals. The current price is £16.16.
What is the quality score of ASL?
Aberforth Smaller Companies Trust Plc has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Aberforth Smaller Companies Trust Plc (ASL)?
Aberforth Smaller Companies Trust Plc reported trailing-twelve-month revenue of about £114M (latest available figure, as of Jun 26, 2026).
What is the net profit margin of ASL?
The net profit margin of Aberforth Smaller Companies Trust Plc is about 84.3%, meaning it keeps roughly 84.3% of revenue as net income. Based on the latest reported figures.
Does Aberforth Smaller Companies Trust Plc pay a dividend?
Aberforth Smaller Companies Trust Plc currently shows a dividend yield of about 2.88% relative to its recent price (as of Jun 26, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.