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Hargreave Hale Aim Vct PLC (HHV) Fair Value & Analysis

Financial Services · GB · Market cap 112M GBX · ISIN GB00B02WHS05

What is Hargreave Hale Aim Vct PLC really worth?

HH Hargreave Hale Aim Vct PLC HHV · LSE
Price£0.3000
Fair Value£0.3100
Upside+3.3%
Quality58/100

A solid business, currently priced close to our fair value of £0.3100.

As of Aug 29, 2026, the fair value of Hargreave Hale Aim Vct PLC is £0.3100 per share against a price of £0.3000, so the fair value sits 3% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Mixed Growth (revenue 5y +82.5 %/yr)
!Loss over the last twelve months · -18.1% net margin · fiscal year 2025 66.4%
!negative free cash flow
!Trails peers (2/9)
!Narrow moat 37/100
!Evidence only low, so the estimate is less certain

For context

·6.00% dividend yield
Evidence: Low Range £0.2300 – £0.3800

Fair value as of: Aug 29, 2026

From 2 valuation models · updated 8 days ago

Share price −0.2% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • 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.

Price vs Fair Value (5 years)

£0.5800 £0.2678 Fair Value £0.3100 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range £0.2678 – £0.5800 · fair‑value band £0.2300 – £0.3800 · the £0.3000 price screens below the £0.3100 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

Hargreave Hale Aim Vct PLC (HHV) currently trades at £0.3000, while our model-based Fair Value estimate is £0.3100, implying the stock looks roughly 3.2% fairly valued today. The Quality Score stands at 58/100 (solid quality), in the Financial Services sector. How firm this estimate is: it rests on 4 models at a data quality of 95/100, which puts the evidence level at low.

Over the trailing twelve months, Hargreave Hale Aim Vct PLC generated revenue of £2.9M at a net margin of −18.1%. Revenue declined 54.8% year over year. It earns a return on equity of −0.4%. The balance sheet holds a net cash position of £16.0M. Fundamentals as of Aug 29, 2026

Our scenario range runs from £0.2300 (bear case) to £0.3800 (bull case); at £0.3000, the current price sits within 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 −28% fair-value upside, at 3%, HHV screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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 best evidence £0.2300 £0.3100 £0.3800 55
NCAV (Graham) £0.1800 £0.2400 £0.3600 51
All 2 models by family
Multiples
P/B Multiple best evidence £0.2300 £0.3100 £0.3800 55
Asset-Based
NCAV (Graham) £0.1800 £0.2400 £0.3600 51

Widest divergence: Multiples (£0.3100) versus Asset-Based (£0.2400). Highest evidence: P/B Multiple (55).

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Key figures & financial health

P/S ratio 40.5 TTM
Dividend yield 6.0%
Net margin −18.1% TTM
Return on equity −0.4% TTM
Return on assets (EBIT) −9.9% avg 5y
Operating margin 87.8% TTM
More key figures
Growth
Revenue (TTM) 2.9M GBX TTM
Revenue growth (YoY) −54.8%
EPS growth (YoY) −65.0%
Balance sheet & cash flow
Free cash flow −1.5M GBX FY2025
Net cash 16.0M GBX FY2025

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 61 · Market factors (momentum, volatility) 60

Profitability 27
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 18
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Hargreave Hale AIM VCT plc is a venture capital trust managed by Canaccord Asset Management specializing in Growth Capital investment. It prefers to invest in both public and private companies. it prefers to invest United Kingdom Region. It Primarily trades on AIM.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hargreave Hale Aim Vct PLC reported revenue of −£779K in FY2025 versus £68.7M in FY2021. Reported net income was −£517K in FY2025.

Growth Quality 37/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2021)
£68.7M
Latest YoY
+308.8%
Avg. revenue 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.
+63.5%
Avg. revenue 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.
+82.5%
Avg. revenue growth/yr (16Y) 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.
+40.4%
EBIT margin (trend) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
91.9% (2016) → 98.7% (2021)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue
FY21 £68.7M
FY22 −£87.6M
FY23 −£28.6M
FY24 −£849K
FY25 −£779K
Net income
FY21 £67.9M
FY22 −£88.7M
FY23 −£29.7M
FY24 −£6.6M
FY25 −£517K

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Cite: Fair Value Calculator (2026). "Hargreave Hale Aim Vct PLC Fair Value". https://www.fairvalue-calculator.com/stock/HHV.LSE

Peer Group

Asset Management · 695 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 57 · Below median
Return on assets 0% · Bottom 25%
Net margin (TTM) −18% · Bottom 25%
Operating margin (TTM) 88% · Top 25%
Revenue growth −55% · Bottom 25%
Dividend yield (TTM) 6.0% · Above median

Valuation Multiples vs Asset Management median · lower = cheaper

P/B 1.12× · Pricier than median
P/S (TTM) 53.06× · Pricier than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 40
FUTURE0 · sector 15
PAST0 · sector 24
HEALTH0 · sector 95
DIVIDEND100 · sector 81

Insider activity: 35/100

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

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $142.39 $52.88 −63%
Investor AB INVEB kr 408.05 kr 827.56 +103%
Brookfield Corporation BN C$55.74 C$10.67 −81%
KKR & Co KKR $108.68 $19.97 −82%
Apollo Global Management, Inc APO $135.04 $101.04 −25%
State Street Corporation STT $193.33 $138.33 −28%
Ameriprise Financial, Inc AMP $559.32 $515.24 −8%
Ares Management Corporation ARES $143.10 $30.88 −78%
Northern Trust Corporation NTRS $186.79 $122.02 −35%
Raymond James Financial, Inc RJF $181.10 $142.42 −21%

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Frequently asked questions

Is Hargreave Hale Aim Vct PLC (HHV) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of £0.3100 versus a price of £0.3000, about +3% upside (fairly valued).
What is the fair value of HHV?
Our model-based fair value for Hargreave Hale Aim Vct PLC is £0.3100 (as of Aug 29, 2026), built from audited fundamentals. The current price: £0.3000.
What is the quality score of HHV?
Hargreave Hale Aim Vct PLC has a Quality Score of 58/100. 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 price target for Hargreave Hale Aim Vct PLC (HHV)?
Our model-based price target is the fair value of £0.3100 (as of Aug 29, 2026) from 2 valuation models. Cautious scenario £0.2300, optimistic scenario £0.3800. It is a calculation from audited fundamentals, not an analyst target.
What is the Hargreave Hale Aim Vct PLC stock forecast for 2026?
Our models put fair value at £0.3100, about +3% upside versus a price of £0.3000 (fairly valued). Cautious scenario £0.2300, optimistic scenario £0.3800. The calculation is refreshed regularly with new filings.
What is the revenue of Hargreave Hale Aim Vct PLC (HHV)?
Hargreave Hale Aim Vct PLC reported trailing-twelve-month revenue of about £2.9M (latest available figure, as of Aug 29, 2026).
What is the net profit margin of HHV?
The net profit margin of Hargreave Hale Aim Vct PLC is about −18.1%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Hargreave Hale Aim Vct PLC pay a dividend?
Hargreave Hale Aim Vct PLC currently shows a dividend yield of about 6.00% relative to its recent price (as of Aug 29, 2026).
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