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The Law Debenture Corporation (LWDB) Fair Value & Analysis

Financial Services · GB · Market cap 1.6B GBX

TL The Law Debenture Corporation LWDB · LSE
Price£12.16
Fair Value£12.64
Upside+3.9%
Quality70/100
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Mixed Growth
Highly profitable · 81.4% net margin
Low debt · generates free cash flow
2.92% dividend yield
Ranks above peers (9/14)
Wide moat 91/100
Evidence: High Range £9.48 – £15.80 Share as image

Fair value as of: Jul 15, 2026

From 13 valuation models · updated 25 days ago

Share price +6.5% over the past month.

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

What matters now

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

£12.16 £5.41 Fair Value £12.64 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range £5.41 – £12.16 · fair‑value band £9.48 – £15.80 · the £12.16 price screens below the £12.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

The Law Debenture Corporation (LWDB) currently trades at £12.16, while our model-based Fair Value estimate is £12.64, implying the stock looks roughly 3.9% fairly valued today. The Quality Score stands at 70/100 (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, The Law Debenture Corporation generated revenue of £374M at a net margin of 81.4%. Revenue grew 190.0% year over year. It earns a return on equity of 28.6%. Net debt stands at £174M. Fundamentals as of Jul 15, 2026

Our scenario range runs from £9.48 (bear case) to £15.80 (bull case); at £12.16, 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 -12% fair-value upside, at 4%, LWDB 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 BearBaseBull Evidence
Highest evidence
Growth DCF £3.74 £6.85 £11.73 80
Residual Income £13.67 £19.41 £113.57 76
Rev-Margin DCF £4.30 £8.16 £16.22 74
All 13 models by family
DCF Models
Owner Earnings £28.88 £60.41 £118.94 31
5Y P/E Exit £16.34 £41.01 £75.27 38
10Y P/E Exit £12.26 £33.41 £69.50 35
Earnings-Based
Graham-Dodd £15.56 £108.55 £152.33 54
Lynch FV £56.08 £80.11 £104.15 50
Dividend Discount
Gordon GGM £2.66 £4.80 £6.61 70
DDM Multi-Stage £2.66 £4.38 £5.13 61
Multiples
P/E Multiple £22.32 £29.76 £37.20 63
P/B Multiple £9.48 £12.64 £15.80 55
Asset-Based
NCAV (Graham) £4.52 £6.05 £9.03 50
Growth DCF
Growth DCF £3.74 £6.85 £11.73 80
Rev-Margin DCF £4.30 £8.16 £16.22 74
Economic Profit
Residual Income £13.67 £19.41 £113.57 76

Widest divergence: Earnings-Based (£80.11) versus Dividend Discount (£4.38). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 374M GBX
Revenue growth (YoY) +190%
Net margin 81.4%
Return on equity 28.6%
Free cash flow 44.5M GBX FY2025
P/E ratio 16.6
More key figures
Operating margin 83.4%
EPS (TTM) £0.7379
Dividend yield 2.9%
EPS growth (YoY) +889%
Net debt 174M GBX FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 66 · Market factors (momentum, volatility) 75

Profitability 68
Margins and returns on capital today
Quality Growth 85
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 58
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

The Law Debenture Corporation p.l.c., an investment trust, provides independent professional services to companies, agencies, organizations, and individuals worldwide. The company operates in two segments: Portfolio and Independent Professional Services.

Full company description

The Law Debenture Corporation p.l.c., an investment trust, provides independent professional services to companies, agencies, organizations, and individuals worldwide. The company operates in two segments: Portfolio and Independent Professional Services. It provides corporate secretarial services; corporate trust services, including bond/security trustee, escrow agent, bespoke trust solutions, and paying agent; pension trustee services comprising independent trustee, chair of trustees, corporate sole trustee, co-trustee, subcommittee chair or member, master trust trustee, IGC member or for ad-hoc support, process agent; whistleblowing services; and outsourced pensions management, scheme secretarial, and specialist support services to projects, pension scheme trustees, and corporates. The company also offers structured finance services; company secretarial services comprising corporate administration, registrar services, statutory filings, and registered office; entity management services; and accounting and tax solutions. The Law Debenture Corporation p.l.c. was incorporated in 1889 and is headquartered in London, the United Kingdom.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

The Law Debenture Corporation reported revenue of £374M in FY2025 versus £197M in FY2021, a compound +17.4%/yr. Reported net income was £305M in FY2025, compounding +19.6%/yr from FY2021.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
£374M
Latest YoY
+122.3%
Avg. growth/yr (3Y)
+51.2%
Avg. growth/yr (5Y)
+40.7%
Avg. growth/yr (22Y)
+8.4%
Revenue +17.4%/yr
FY21 £197M
FY22 £108M
FY23 £133M
FY24 £168M
FY25 £374M
Net income +19.6%/yr
FY21 £149M
FY22 −£86.3M
FY23 £75.2M
FY24 £97.0M
FY25 £305M

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Cite: Fair Value Calculator (2026). "The Law Debenture Corporation Fair Value". https://www.fairvalue-calculator.com/stock/LWDB

Peer Group

Asset Management · 973 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 69 · Top 25%
Fair Value upside +4% · Above median
Return on equity (TTM) 29% · Top 25%
Return on assets 15% · Top 25%
Net margin (TTM) 81% · Top 25%
Operating margin (TTM) 83% · Above median
Revenue growth 190% · Top 25%
Dividend yield (TTM) 2.9% · Below median
Debt / equity 0.10× · Lower than median

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 16.1× · Pricier than median
P/B 1.82× · Pricier than 75% of peers
P/S (TTM) 5.85× · Pricier than median
P/FCF 49.2× · Pricier than 75% of peers
EV/EBITDA 7.2× · Cheaper 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 39 · sector 37
FUTURE 100 · sector 6
PAST 100 · sector 26
HEALTH 95 · sector 95
DIVIDEND 58 · sector 69

Insider activity: 40/100

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 Jul 15, 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 The Law Debenture Corporation (LWDB) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of £12.64 versus a price of £12.16, about +4% (fairly valued).
What is the fair value of LWDB?
Our model-based fair value for The Law Debenture Corporation is £12.64 (as of Jul 15, 2026), built from audited fundamentals. The current price is £12.16.
What is the quality score of LWDB?
The Law Debenture Corporation has a Quality Score of 70/100. 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 revenue of The Law Debenture Corporation (LWDB)?
The Law Debenture Corporation reported trailing-twelve-month revenue of about £374M (latest available figure, as of Jul 15, 2026).
What is the net profit margin of LWDB?
The net profit margin of The Law Debenture Corporation is about 81.4%, meaning it keeps roughly 81.4% of revenue as net income. Based on the latest reported figures.
Does The Law Debenture Corporation pay a dividend?
The Law Debenture Corporation currently shows a dividend yield of about 2.93% relative to its recent price (as of Jul 15, 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.

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