Murray Income Trust (MUT) Fair Value & Analysis
Financial Services · GB · Market cap 920M GBX
Fair value as of: Aug 13, 2026
From 2 valuation models · updated 6 days ago
Fair value updated Aug 13, 2026, revised from £4.17 to £8.35 (+100.2%) since Jul 12, 2026. Share price +0.2% over the past month.
A solid business, but screening 16% overvalued on our models.
What matters now
- Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
- 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)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range £6.05 – £10.24 · fair‑value band £6.26 – £10.44 · the £9.96 price screens above the £8.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Murray Income Trust (MUT) currently trades at £9.96, while our model-based Fair Value estimate is £8.35, implying the stock looks roughly 16.2% overvalued today. The Quality Score stands at 69/100 (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 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 Aug 13, 2026
Our scenario range runs from £6.26 (bear case) to £10.44 (bull case); at £9.96, 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 -33% fair-value upside, at -16%, MUT 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.
All 2 models by family
Widest divergence: Multiples (£8.35) versus Asset-Based (£6.58). Highest evidence: P/B Multiple (55).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 69
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
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Murray Income Trust 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.
of which total revenue −0.2 pp · buybacks/dilution −5.0 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
MUT screens 16% overvalued. Compare with BlackRock, Inc →
Peer Group
Asset Management · 706 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.
Valuation Multiples vs Asset Management median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BlackRock, Inc BLK | $1,161 | $465.75 | -60% |
| Blackstone Inc BX | $146.41 | $52.88 | -64% |
| Investor AB INVEB | kr 417.90 | kr 835.80 | +100% |
| AB Industrivärden INDUA | kr 544.00 | kr 375.93 | -31% |
| ICICIAMC ICICIAMC | ₹3,077 | ₹1,132 | -63% |
| Hedef Holding HEDEF | 267.25 TRY | 321.44 TRY | +20% |
| Jio Financial Services Limited JIOFIN | ₹256.05 | ₹171.84 | -33% |
| Bajaj Holdings BAJAJHLDNG | ₹11,294 | ₹11,257 | -0% |
| HDFC Asset Management Company HDFCAMC | ₹2,490 | ₹866.78 | -65% |
| Nippon Life Asset Management Limited NAMINDIA | ₹1,182 | ₹311.00 | -74% |
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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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