Utilico Emerging Markets Trust PLC (UEM) Fair Value & Analysis
Financial Services · GB · Market cap 499M GBX
Fair value as of: Jul 15, 2026
From 12 valuation models · updated 26 days ago
Fair value updated Jul 15, 2026, revised from £1.66 to £4.46 (+168.7%) since Jun 26, 2026. Share price +0.7% over the past month.
A solid business, screening 53% undervalued on our models.
What matters now
- The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict.
- The price is below even our cautious bear case (£3.35). The market is more pessimistic than our downside scenario.
- 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 Jul 15, 2026.
How to read this chart
60‑month range £1.69 – £2.98 · fair‑value band £3.35 – £5.58 · the £2.91 price screens below the £4.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.
Analysis
Utilico Emerging Markets Trust PLC (UEM) currently trades at £2.91, while our model-based Fair Value estimate is £4.46, implying the stock looks roughly 53.3% undervalued today. The Quality Score stands at 72/100 (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, Utilico Emerging Markets Trust PLC generated revenue of £62.7M at a net margin of 79.0%. Revenue grew 29.6% year over year. It earns a return on equity of 9.8%. Net debt stands at £7.7M. Fundamentals as of Jul 15, 2026
Our scenario range runs from £3.35 (bear case) to £5.58 (bull case); at £2.91, the current price sits below 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 53%, UEM 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 12 models by family
Widest divergence: Earnings-Based (£23.45) versus Dividend Discount (£1.27). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 70
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
Utilico Emerging Markets Trust PLC is a closed-ended balanced mutual fund launched and managed by ICM Investment Management Limited. The fund is co-managed by ICM Limited. It invests in the public equity and fixed income markets of emerging market countries across the globe.
Full company description
Utilico Emerging Markets Trust PLC is a closed-ended balanced mutual fund launched and managed by ICM Investment Management Limited. The fund is co-managed by ICM Limited. It invests in the public equity and fixed income markets of emerging market countries across the globe. The fund seeks to invest in securities of companies operating in the infrastructure, utility, and related sectors. It primarily invests in value stocks of companies, as well as in convertible securities and bonds of various credit ratings. The fund focuses on businesses with essential service or monopolistic characteristics to create its portfolio. It benchmarks the performance of its portfolio against the MSCI Emerging Markets Total Return Index. The fund was formerly known as Utilico Emerging Markets Limited. Utilico Emerging Markets Trust PLC was formed on July 20, 2005 and is domiciled in United Kingdom.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Utilico Emerging Markets Trust PLC reported revenue of £128M in FY2026 versus £75.9M in FY2022, a compound +14.0%/yr. Reported net income was £116M in FY2026, compounding +12.8%/yr from FY2022.
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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.
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.
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 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
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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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