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CVC Income & Growth Limited (CVCE) Fair Value & Analysis

Financial Services · GB · Market cap €308M

CI CVC Income & Growth Limited CVCE · LSE
Price€0.0109
Fair Value€0.0085
Upside-22.0%
Quality50/100
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Weak Growth
Thin margins · 0.0% net margin
generates free cash flow
Trails peers (0/10)
Moderate moat 49/100
Evidence: Medium Range €0.0091 – €0.0101 Share as image

Fair value as of: Jul 19, 2026

From 4 valuation models · updated 22 days ago

Share price −0.9% over the past month.

A solid business, but screening 22% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€0.0101). The favourable scenario is already priced in.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The models converge in a tight band (€0.0091 to €0.0101), unusually little disagreement for a valuation.
  • 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)

€0.0112 €0.0062 Fair Value €0.0085 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €0.0062 – €0.0112 · fair‑value band €0.0091 – €0.0101 · the €0.0109 price screens above the €0.0085 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

CVC Income & Growth Limited (CVCE) currently trades at €0.0109, while our model-based Fair Value estimate is €0.0085, implying the stock looks roughly 22.0% overvalued today. The Quality Score stands at 50/100 (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: medium).

The balance sheet holds a net cash position of €2.1M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €0.0091 (bear case) to €0.0101 (bull case); at €0.0109, 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 -12% fair-value upside, at -22%, CVCE screens richer 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
Growth DCF €1.33 €2.29 €3.80 72
Gordon GGM €0.8000 €1.44 €1.98 70
DDM Multi-Stage €0.8000 €1.32 €1.54 61
All 4 models by family
Dividend Discount
Gordon GGM €0.8000 €1.44 €1.98 70
DDM Multi-Stage €0.8000 €1.32 €1.54 61
Asset-Based
NCAV (Graham) €0.7200 €0.9600 €1.44 50
Growth DCF
Growth DCF €1.33 €2.29 €3.80 72

Widest divergence: Growth DCF (€2.29) versus Asset-Based (€0.9600). Highest evidence: Growth DCF (72).

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Key figures & financial health

Free cash flow €23.9M FY2025
EPS (TTM) €-0.0500
Net cash €2.1M FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 52 · Market factors (momentum, volatility) 62

Profitability 8
Margins and returns on capital today
Quality Growth 12
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 61
Distance to the 52-week high (market factor)
Net Issuance 44
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

CVC Income & Growth Limited is a closed-ended fixed income mutual fund of fund launched by Goldman Sachs International. The fund is managed by CVC Credit Partners Investment Management Ltd. It invests in the fixed income markets of Western Europe. The fund seeks to invest in securities of companies across diversified sectors.

Full company description

CVC Income & Growth Limited is a closed-ended fixed income mutual fund of fund launched by Goldman Sachs International. The fund is managed by CVC Credit Partners Investment Management Ltd. It invests in the fixed income markets of Western Europe. The fund seeks to invest in securities of companies across diversified sectors. It primarily invests all of its assets in units of the CVC European Credit Opportunities S.àr.l, which in turn invests in sub-investment grade senior secured debt obligations of companies. The fund benchmarks the performance of its portfolio against the S&P European Leveraged Loan lndex, iBoxx EUR Liquid High Yield Index, S&P Europe 350 Index, and HFRX Global Hedge Fund Index. It was formerly known as CVC Credit Partners European Opportunities Limited. CVC Income & Growth Limited was formed on March 20, 2013 and is domiciled in Jersey.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CVC Income & Growth Limited reported revenue of €32.8M in FY2025 versus €37.7M in FY2021, a compound −3.4%/yr. Reported net income was −€6.6M in FY2025.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€32.8M
Latest YoY
−25.0%
Avg. growth/yr (11Y) 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.
+7.5%
Revenue −3.4%/yr
FY21 €37.7M
FY22 −€18.4M
FY23 €52.0M
FY24 €43.7M
FY25 €32.8M
Net income
FY21 €22.1M
FY22 −€33.8M
FY23 €31.7M
FY24 €20.5M
FY25 −€6.6M

CVCE screens 22% overvalued. Compare with Fondul Proprietatea SA →

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Cite: Fair Value Calculator (2026). "CVC Income & Growth Limited Fair Value". https://www.fairvalue-calculator.com/stock/CVCE

Peer Group

Asset Management · 971 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 50 · Below median
Fair Value upside −22% · Below median
Return on assets 0% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Asset Management median · lower = cheaper

P/B 1.07× · Pricier than median
P/FCF 14.9× · 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 4 · sector 37
FUTURE 0 · sector 6
PAST 0 · sector 26
HEALTH 0 · sector 95
DIVIDEND 0 · 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 19, 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 CVC Income & Growth Limited (CVCE) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €0.0085 versus a price of €0.0109, about −22% (overvalued).
What is the fair value of CVCE?
Our model-based fair value for CVC Income & Growth Limited is €0.0085 (as of Jul 19, 2026), built from audited fundamentals. The current price is €0.0109.
What is the quality score of CVCE?
CVC Income & Growth Limited has a Quality Score of 50/100. 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 CVCE?
The net profit margin of CVC Income & Growth Limited 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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