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Jupiter US Smaller Companies PLC (BASC) Fair Value & Analysis

Financial Services · GB · Market cap 182M GBX

JU Jupiter US Smaller Companies PLC BASC · LSE
Price£16.38
Fair Value£12.34
Upside-24.6%
Quality64/100
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Weak Growth
Thin margins · 0.0% net margin
negative free cash flow
Trails peers (2/8)
Narrow moat 37/100
Evidence: Low Range £9.25 – £15.42 Share as image

Fair value as of: Aug 13, 2026

From 2 valuation models · updated today

Fair value updated Aug 13, 2026, revised from £0.7100 to £12.34 (+1,638.0%) since Aug 7, 2026. Share price +0.9% over the past month.

A solid business, but screening 25% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (£15.42). The favourable scenario is already priced in.
  • Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • 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)

£16.65 £10.65 Fair Value £12.34 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range £10.65 – £16.65 · fair‑value band £9.25 – £15.42 · the £16.38 price screens above the £12.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Jupiter US Smaller Companies PLC (BASC) currently trades at £16.38, while our model-based Fair Value estimate is £12.34, implying the stock looks roughly 24.6% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Revenue declined 26.0% year over year. It earns a return on equity of -5.3%. The balance sheet holds a net cash position of £8.0M. Fundamentals as of Aug 13, 2026

Our scenario range runs from £9.25 (bear case) to £15.42 (bull case); at £16.38, the current price sits above 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 -33% fair-value upside, at -25%, BASC 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 Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
P/B Multiple £9.25 £12.34 £15.42 55
NCAV (Graham) £7.26 £9.72 £14.51 50
All 2 models by family
Multiples
P/B Multiple £9.25 £12.34 £15.42 55
Asset-Based
NCAV (Graham) £7.26 £9.72 £14.51 50

Widest divergence: Multiples (£12.34) versus Asset-Based (£9.72). Highest evidence: P/B Multiple (55).

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Key figures & financial health

Revenue (TTM) −6.6M GBX
Revenue growth (YoY) -26.0%
Return on equity -5.3%
Free cash flow −691K GBX FY2025
Operating margin 88.6%
EPS (TTM) £-0.7700
More key figures
EPS growth (YoY) -25.6%
Net cash 8.0M GBX FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 62 · Market factors (momentum, volatility) 77

Profitability 21
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 98
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 78
Distance to the 52-week high (market factor)
Net Issuance 93
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

Jupiter US Smaller Companies PLC is a closed ended equity mutual fund launched and managed by Jupiter Unit Trust Managers Limited. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.

Full company description

Jupiter US Smaller Companies PLC is a closed ended equity mutual fund launched and managed by Jupiter Unit Trust Managers Limited. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in value stocks of small and mid-cap companies having a market capitalization from $100 million and $5 billion. The fund benchmarks the performance of its portfolio against the Russell 2000 Index. Jupiter US Smaller Companies PLC was formed on January 1, 1993 and is domiciled in the United Kingdom.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jupiter US Smaller Companies PLC reported revenue of −£146K in FY2025 versus £72.9M in FY2021. Reported net income was −£6.8M in FY2025.

Growth Quality 5/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2024)
£6.6M
Latest YoY
+185.9%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−55.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−0.3%
Avg. growth/yr (20Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−3.2%
Revenue
FY21 £72.9M
FY22 −£24.5M
FY23 £2.3M
FY24 £6.6M
FY25 −£146K
Net income
FY21 £47.5M
FY22 −£25.4M
FY23 £15.3M
FY24 £4.6M
FY25 −£6.8M
Character of growth · EPS growth decomposed (2014-2025) +5.6 % p.a.
Revenue per share −4.5 pp

of which total revenue −12.0 pp · buybacks/dilution +7.5 pp

EBIT margin +10.7 pp
Tax rate +0.3 pp
Residual (interest, one-offs) −1.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

BASC screens 25% overvalued. Compare with BlackRock, Inc →

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Cite: Fair Value Calculator (2026). "Jupiter US Smaller Companies PLC Fair Value". https://www.fairvalue-calculator.com/stock/BASC

Peer Group

Asset Management · 690 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 62 · Above median
Fair Value upside −24% · Below median
Return on assets -3% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) 89% · Top 25%
Revenue growth -26% · Bottom 25%

Valuation Multiples vs Asset Management median · lower = cheaper

P/B 1.51× · 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 2 · sector 36
FUTURE 0 · sector 14
PAST 0 · sector 24
HEALTH 0 · sector 95
DIVIDEND 0 · sector 68

Insider activity: 45/100

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 Aug 13, 2026).

Stock Price Fair Value vs Fair Value
BlackRock, Inc BLK $1,161 $465.75 -60%
Blackstone Inc BX $146.41 $52.88 -64%
Investor AB INVEB kr 417.90 kr 835.80 +100%
AB Industrivärden INDUA kr 544.00 kr 375.93 -31%
ICICIAMC ICICIAMC ₹3,077 ₹1,132 -63%
Jio Financial Services Limited JIOFIN ₹256.05 ₹171.84 -33%
Hedef Holding HEDEF 267.25 TRY 321.44 TRY +20%
Bajaj Holdings BAJAJHLDNG ₹11,579 ₹11,257 -3%
HDFC Asset Management Company HDFCAMC ₹2,490 ₹866.78 -65%
Nippon Life Asset Management Limited NAMINDIA ₹1,182 ₹311.00 -74%

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Frequently asked questions

Is Jupiter US Smaller Companies PLC (BASC) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of £12.34 versus a price of £16.38, about −25% (overvalued).
What is the fair value of BASC?
Our model-based fair value for Jupiter US Smaller Companies PLC is £12.34 (as of Aug 13, 2026), built from audited fundamentals. The current price is £16.38.
What is the quality score of BASC?
Jupiter US Smaller Companies PLC has a Quality Score of 64/100. 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 net profit margin of BASC?
The net profit margin of Jupiter US Smaller Companies PLC is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

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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