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Lowland Investment Company (LWI) Fair Value & Analysis

Financial Services · GB · Market cap £386M

LI Lowland Investment Company LWI · LSE
Price£1.76
Fair Value£2.33
Upside+32.8%
Quality66/100
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Mixed Growth
Highly profitable · 95.2% net margin
Low debt · generates free cash flow
3.84% dividend yield
Ranks above peers (11/14)
Wide moat 88/100
Evidence: High Range £1.74 – £2.91 Share as image

Fair value as of: Jul 17, 2026

From 2 valuation models · updated 23 days ago

Fair value updated Jul 17, 2026, revised from £2.32 to £2.33 (+0.4%) since Jun 26, 2026. Share price +9.3% over the past month.

A solid business, screening 33% undervalued on our models.

What matters now

  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
  • 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)

£1.76 £0.7772 Fair Value £2.33 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range £0.7772 – £1.76 · fair‑value band £1.74 – £2.91 · the £1.76 price screens below the £2.33 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Lowland Investment Company (LWI) currently trades at £1.76, while our model-based Fair Value estimate is £2.33, implying the stock looks roughly 32.8% undervalued today. The Quality Score stands at 66/100 (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, Lowland Investment Company generated revenue of £102M at a net margin of 95.2%. Revenue grew 124.3% year over year. It earns a return on equity of 27.0%. Net debt stands at £42.9M. Fundamentals as of Jul 17, 2026

Our scenario range runs from £1.74 (bear case) to £2.91 (bull case); at £1.76, 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 33%, LWI 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
P/B Multiple £1.06 £1.41 £1.77 55
NCAV (Graham) £0.8300 £1.11 £1.66 50
All 2 models by family
Multiples
P/B Multiple £1.06 £1.41 £1.77 55
Asset-Based
NCAV (Graham) £0.8300 £1.11 £1.66 50

Widest divergence: Multiples (£1.41) versus Asset-Based (£1.11). Highest evidence: P/B Multiple (55).

Key figures & financial health

Revenue (TTM) £102M
Revenue growth (YoY) +124%
Net margin 95.2%
Return on equity 27.0%
Free cash flow £16.6M FY2025
P/E ratio 4.3
More key figures
Operating margin 95.2%
EPS (TTM) £0.4000
Dividend yield 3.9%
EPS growth (YoY) +181%
Net debt £42.9M FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 61 · Market factors (momentum, volatility) 75

Profitability 50
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 87
Distance to the 52-week high (market factor)
Net Issuance 100
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

Lowland Investment Company plc is a closed-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.

Full company description

Lowland Investment Company plc is a closed-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 growth stocks of companies across all market capitalizations. It benchmarks the performance of its portfolio against the FTSE All-Share Index. Lowland Investment Company plc was formed in 1963 and is domiciled in the United Kingdom.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lowland Investment Company reported revenue of £20.1M in FY2025 versus £133M in FY2021, a compound −37.6%/yr. Reported net income was £58.6M in FY2025, compounding −18.4%/yr from FY2021.

Growth Quality 69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
£20.1M
Avg. growth/yr (5Y)
+31.7%
Avg. growth/yr (19Y)
+4.8%
Revenue −37.6%/yr
FY21 £133M
FY22 −£64.1M
FY23 £53.6M
FY24 £22.7M
FY25 £20.1M
Net income −18.4%/yr
FY21 £132M
FY22 −£64.8M
FY23 £52.8M
FY24 £57.6M
FY25 £58.6M

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Cite: Fair Value Calculator (2026). "Lowland Investment Company Fair Value". https://www.fairvalue-calculator.com/stock/LWI

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 65 · Above median
Fair Value upside +33% · Above median
Return on equity (TTM) 27% · Top 25%
Return on assets 15% · Top 25%
Net margin (TTM) 95% · Top 25%
Operating margin (TTM) 95% · Top 25%
Revenue growth 124% · Top 25%
Dividend yield (TTM) 3.8% · Above median
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 4.4× · Cheaper than 75% of peers
P/B 1.43× · Pricier than 75% of peers
P/S (TTM) 5.13× · Pricier than median
P/FCF 31.4× · Pricier than 75% of peers
EV/EBITDA 9.0× · 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 77 · sector 37
FUTURE 100 · sector 6
PAST 100 · sector 26
HEALTH 96 · sector 95
DIVIDEND 77 · sector 69

Insider activity: 45/100

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 17, 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 Lowland Investment Company (LWI) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of £2.33 versus a price of £1.76, about +33% (undervalued).
What is the fair value of LWI?
Our model-based fair value for Lowland Investment Company is £2.33 (as of Jul 17, 2026), built from audited fundamentals. The current price is £1.76.
What is the quality score of LWI?
Lowland Investment Company has a Quality Score of 66/100. 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 Lowland Investment Company (LWI)?
Lowland Investment Company reported trailing-twelve-month revenue of about £102M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of LWI?
The net profit margin of Lowland Investment Company is about 95.2%, meaning it keeps roughly 95.2% of revenue as net income. Based on the latest reported figures.
Does Lowland Investment Company pay a dividend?
Lowland Investment Company currently shows a dividend yield of about 3.88% relative to its recent price (as of Jul 17, 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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