Gresham House Income & Growth VCT plc (GHV1) Fair Value & Analysis

Financial Services · GB · Market cap 206M GBX

Below-average quality, and screening another 78% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (£0.1615). The favourable scenario is already priced in.
• Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range £0.0057 – £0.6204 · fair‑value band £0.0935 – £0.1615 · the £0.5700 price screens above the £0.1275 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

Gresham House Income & Growth VCT plc (GHV1) currently trades at £0.5700, while our model-based Fair Value estimate is £0.1275, implying the stock looks roughly 77.6% overvalued today. The Quality Score stands at 41/100 (below-average 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).

Over the trailing twelve months, Gresham House Income & Growth VCT plc generated revenue of £9.4M at a net margin of 33.8%. Revenue declined 54.6% year over year. It earns a return on equity of 1.6%. The stock trades on a trailing P/E of 57.0. Fundamentals as of Jul 16, 2026

Our scenario range runs from £0.0935 (bear case) to £0.1615 (bull case); at £0.5700, 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 -78%, GHV1 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.

Widest divergence: Multiples (£0.5100) versus Asset-Based (£0.4000). Highest evidence: P/B Multiple (55).

Key figures & financial health

Quality Score breakdown

About the company

Gresham House Income & Growth VCT plc is a venture capital trust. It invests in companies at various stages of development. The fund invests in unquoted and new and secondary issues of quoted companies, which already have a trading facility on the Alternative Investment Market or on OFEX.

Full company description

Gresham House Income & Growth VCT plc is a venture capital trust. It invests in companies at various stages of development. The fund invests in unquoted and new and secondary issues of quoted companies, which already have a trading facility on the Alternative Investment Market or on OFEX. It primarily makes investments in support services, software and computer services and general retailers. It prefers to invest in companies based in United Kingdom. The fund structures its investments as part equity and part loan. The fund invests equity between £0.01 million ($0.02 million) and £1 million ($1.56 million). It does not invest more than 15 percent of its assets in any one company.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Gresham House Income & Growth VCT plc reported revenue of £3.9M in FY2025 versus £42.3M in FY2021, a compound −45.0%/yr. Reported net income was £3.2M in FY2025, compounding −47.5%/yr from FY2021.

GHV1 screens 78% overvalued. Compare with Fondul Proprietatea SA →

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.

Valuation Multiples vs Asset Management median · lower = cheaper

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 0: the price sits above our fair-value range.

Values & ESG

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

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

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Frequently asked questions

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.