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Henderson High Income Trust plc (HHI) Fair Value & Analysis

Financial Services · GB · Market cap 341M GBX

HH Henderson High Income Trust plc HHI · LSE
Price£1.99
Fair Value£2.81
Upside+41.2%
Quality55/100
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Evidence: High Range £2.11 – £3.51

Fair value as of: Jun 26, 2026

From 21 valuation models · updated 7 days ago

Share price +1.4% over the past month.

Price vs Fair Value (12 months)

£2.05 £1.69 Fair Value £2.81 Jul 2025 Jul 2026

12‑month range £1.69 – £2.05 · fair‑value band £2.11 – £3.51 · the £1.99 price screens below the £2.81 fair value. As of Jun 26, 2026.

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Analysis

Henderson High Income Trust plc (HHI) currently trades at £1.99, while our model-based Fair Value estimate is £2.81 — implying the stock looks roughly 41.2% undervalued today. We read business quality at 55/100 (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, Henderson High Income Trust plc generated revenue of £65.1M at a net margin of 92.2%. Revenue grew 142.2% year over year. It earns a return on equity of 18.7%. Net debt stands at £61.0M. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 65.1M GBX
Revenue growth (YoY) +142%
Net margin 92.2%
Return on equity 18.7%
Free cash flow 19.3M GBX FY2025
P/E ratio 5.7
More key figures
Operating margin 96.0%
EPS (TTM) £0.3500
Dividend yield 5.5%
EPS growth (YoY) +203%
Net debt 61.0M GBX FY2025

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

About the company

Henderson High Income Trust plc is a close-ended equity mutual fund launched and managed by Henderson Investment Funds Limited. It is co-managed by Henderson Global Investors Limited. The fund invests in the public equity markets of the United Kingdom. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in dividend paying value stocks of companies across all market capitalizations. It seeks to invest in companies that are well managed and have strong balance sheets. The fund benchmarks the performance of its portfolio against a composite benchmark comprised of 80% FTSE All-Share Index and 20% Merrill Lynch Sterling Non-Gilts Index. Henderson High Income Trust plc was formed on November 1, 1989 and is domiciled in the United Kingdom.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Henderson High Income Trust plc reported revenue of £22.6M in FY2025 versus £38.2M in FY2021, a compound −12.3%/yr. Reported net income was £60.0M in FY2025, compounding +12.4%/yr from FY2021.

Revenue −12.3%/yr
FY21 £38.2M
FY22 −£10.4M
FY23 £26.0M
FY24 £24.4M
FY25 £22.6M
Net income +12.4%/yr
FY21 £37.6M
FY22 −£11.0M
FY23 £21.4M
FY24 £26.0M
FY25 £60.0M

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Frequently asked questions

Is Henderson High Income Trust plc (HHI) undervalued?
As of Jun 26, 2026, our model estimates a fair value of £2.81 versus a price of £1.99 — about +41% (undervalued). Model-based estimate, not financial advice.
What is the fair value of HHI?
Our model-based fair value for Henderson High Income Trust plc is £2.81 (as of Jun 26, 2026), built from audited fundamentals. The current price is £1.99.
What is the quality score of HHI?
Henderson High Income Trust plc has a Quality Score of 55/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Henderson High Income Trust plc (HHI)?
Henderson High Income Trust plc reported trailing-twelve-month revenue of about £65.1M (latest available figure, as of Jun 26, 2026).
What is the net profit margin of HHI?
The net profit margin of Henderson High Income Trust plc is about 92.2%, meaning it keeps roughly 92.2% of revenue as net income. Based on the latest reported figures.
Does Henderson High Income Trust plc pay a dividend?
Henderson High Income Trust plc currently shows a dividend yield of about 5.48% 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.