# BlackRock Smaller Companies Trust (BRSC.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 268p, market value 644 millionp.

## Valuation
- **P/E (trailing): 9.2×** (5-yr avg 1145.3×, 3-yr avg 966.6×). BlackRock Smaller Companies Trust trades at 9.2× trailing earnings, well below its own five-year average of 1145.3×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 9.7×**. Each dollar of revenue is priced at 9.7×.
- **Price / book: 0.9×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 4.3×**. Enterprise value is 4.3× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 10.9%** (5-yr avg 0.1%). Free cash flow equals 10.9% of the market value, above its five-year average of 0.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 10.8%**. The inverse of the P/E: 10.8% of the price is earned each year.

## Profitability
- **Gross margin: 90.3%**. BlackRock Smaller Companies Trust keeps 90.3% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 87.3%**. 87.3% of revenue is left after running the business, an exceptional level.
- **Net margin: 89.7%**. 89.7% of each dollar of sales reaches the bottom line.
- **Return on equity: 10.0%**. 10.0% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 9.1%**. Return on all capital, debt included, is 9.1%.
- **Return on assets: 8.2%**. Each dollar of assets produces 8.2% of profit; low single digits are normal for banks and insurers.

## Growth
- **EPS growth (1 yr): 1691.7%** (5-yr -9.9%/yr). Earnings per share rose 1691.7%.
- **Free-cash-flow growth (3 yr): 120.3%/yr**. Free cash flow has compounded at 120.3% a year over three years.

## Financial health
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.
- **Cash and short-term investments: 36 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**. BlackRock Smaller Companies Trust does not currently pay a dividend, but it returned 15.3% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 4.7%** (YTD 3.3%, 3-mo 3.7%). The shares are up 4.7% over twelve months including dividends.
- **From 52-week high: -82.0%** (16.1% above the low). Trading 82% below its 52-week high, deep in a drawdown.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 44**. An RSI of 44 is neutral.
- **Beta (1 yr): 0.82** (volatility 17%). Beta of 0.82 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.