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Murray Income Trust PLC (MUT) Fair Value & Analysis

Financial Services · GB · Market cap 873M GBX

MI Murray Income Trust PLC MUT · LSE
Price£9.68
Fair Value£4.15
Upside-57.1%
Quality72/100
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Evidence: High Range £3.11 – £5.19

Fair value as of: Jun 26, 2026

From 24 valuation models · updated 7 days ago

Share price +6.2% over the past month.

Price vs Fair Value (12 months)

£9.72 £8.13 Fair Value £4.15 Jul 2025 Jul 2026

12‑month range £8.13 – £9.72 · fair‑value band £3.11 – £5.19 · the £9.68 price screens above the £4.15 fair value. As of Jun 26, 2026.

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Analysis

Murray Income Trust PLC (MUT) currently trades at £9.68, while our model-based Fair Value estimate is £4.15 — implying the stock looks roughly 57.1% overvalued today. We read business quality at 72/100 (solid 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: high).

Over the trailing twelve months, Murray Income Trust PLC generated revenue of £126M at a net margin of 93.9%. Revenue declined 7.4% year over year. It earns a return on equity of 12.7%. Net debt stands at £102M. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 126M GBX
Revenue growth (YoY) -7.4%
Net margin 93.9%
Return on equity 12.7%
Free cash flow 35.5M GBX FY2025
P/E ratio 7.8
More key figures
Operating margin 96.6%
EPS (TTM) £1.20
Dividend yield 4.3%
EPS growth (YoY) -0.7%
Net debt 102M GBX FY2025

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

About the company

Murray Income Trust PLC is a closed ended equity mutual fund launched and managed by Aberdeen Fund Managers Limited. It is co-managed by Aberdeen Asset Managers 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 large-cap companies. It employs fundamental analysis with a combination of bottom-up and top-down stock picking approaches, focusing on such factors as good management, strong cash flow, and a sound balance sheet to build its portfolio. The fund benchmarks the performance of its portfolio against the FTSE All-Share Index. Murray Income Trust PLC was formed in 1923 and is domiciled in the United Kingdom.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Murray Income Trust PLC reported revenue of £29.7M in FY2025 versus £63.0M in FY2021, a compound −17.1%/yr. Reported net income was £22.9M in FY2025, compounding −38.6%/yr from FY2021.

Revenue −17.1%/yr
FY21 £63.0M
FY22 −£35.4M
FY23 £54.6M
FY24 £60.3M
FY25 £29.7M
Net income −38.6%/yr
FY21 £161M
FY22 −£41.1M
FY23 £73.5M
FY24 £94.8M
FY25 £22.9M

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Frequently asked questions

Is Murray Income Trust PLC (MUT) undervalued?
As of Jun 26, 2026, our model estimates a fair value of £4.15 versus a price of £9.68 — about −57% (overvalued). Model-based estimate, not financial advice.
What is the fair value of MUT?
Our model-based fair value for Murray Income Trust PLC is £4.15 (as of Jun 26, 2026), built from audited fundamentals. The current price is £9.68.
What is the quality score of MUT?
Murray Income Trust PLC has a Quality Score of 72/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Murray Income Trust PLC (MUT)?
Murray Income Trust PLC reported trailing-twelve-month revenue of about £126M (latest available figure, as of Jun 26, 2026).
What is the net profit margin of MUT?
The net profit margin of Murray Income Trust PLC is about 93.9%, meaning it keeps roughly 93.9% of revenue as net income. Based on the latest reported figures.
Does Murray Income Trust PLC pay a dividend?
Murray Income Trust PLC currently shows a dividend yield of about 4.28% 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.