# Baillie Gifford Shin Nippon (BGS.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 171p, market value 329 millionp.

## Valuation
- **P/E (trailing): 34.2×** (5-yr avg 2718.7×, 3-yr avg 2718.7×). Baillie Gifford Shin Nippon trades at 34.2× trailing earnings, well below its own five-year average of 2718.7×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / book: 1.2×**. The shares trade at 1.2× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 0.3%** (5-yr avg 0.0%). Free cash flow equals 0.3% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 2.9%**. The inverse of the P/E: 2.9% of the price is earned each year.

## Profitability
- **Gross margin: 108.1%**. Baillie Gifford Shin Nippon keeps 108.1% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 73.2%**. 73.2% of revenue is left after running the business, an exceptional level.
- **Net margin: 102.0%**. 102.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 3.6%**. 3.6% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: -5.1%**. Return on all capital, debt included, is -5.1%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -4.1%**. Each dollar of assets produces -4.1% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 143.6%** (5-yr -25.4%/yr). Revenue grew 143.6% over the last year, against -25.4% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 149.8%** (5-yr -38.4%/yr). Earnings per share rose 149.8%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -12.1%/yr**. Free cash flow has compounded at -12.1% a year over three years.

## Financial health
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.
- **Cash and short-term investments: 17 millionp**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend: none**. Baillie Gifford Shin Nippon does not currently pay a dividend, but it returned 23.5% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 31.7%** (YTD 32.3%, 3-mo 9.0%). The shares are up 31.7% over twelve months including dividends.
- **From 52-week high: -3.0%** (38.8% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 60**. An RSI of 60 is neutral.
- **Beta (1 yr): 0.49** (volatility 20%). Beta of 0.49 against the FTSE All-Share: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=BGS.L · Page: https://foliofundamentals.com/stocks/bgs.l

Not investment advice.