# Fidelity China Special Situations PLC (FCSS.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 254p, market value 1.2 billionp.

## Valuation
- **P/E (trailing): 8.5×** (5-yr avg 2224.4×, 3-yr avg 667.1×). Fidelity China Special Situations PLC trades at 8.5× trailing earnings, well below its own five-year average of 2224.4×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 2.1×**. Each dollar of revenue is priced at 2.1×.
- **Price / book: 0.8×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 2.2×**. Enterprise value is 2.2× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 7.1%** (5-yr avg -0.1%). Free cash flow equals 7.1% 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: 11.8%**. The inverse of the P/E: 11.8% of the price is earned each year.

## Profitability
- **Gross margin: 93.9%**. Fidelity China Special Situations PLC keeps 93.9% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 93.5%**. 93.5% of revenue is left after running the business, an exceptional level.
- **Net margin: 77.5%**. 77.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 10.2%**. 10.2% on shareholders' equity is solid.
- **Return on invested capital: 38.0%**. Return on all capital, debt included, is 38.0%: comfortably above what that capital costs.
- **Return on assets: 33.1%**. Each dollar of assets produces 33.1% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -48.8%** (3-yr 93.1%/yr, 5-yr -28.5%/yr). Revenue fell 48.8% over the last year, against -28.5% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -54.5%** (3-yr 86.4%/yr, 5-yr -30.9%/yr). Earnings per share fell 54.5%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -100.0%/yr**. Free cash flow has compounded at -100.0% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.
- **Cash and short-term investments: 48 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**. Fidelity China Special Situations PLC does not currently pay a dividend, but it returned 14.3% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): -14.4%** (YTD -15.1%, 3-mo -8.2%). The shares are down 14.4% over twelve months including dividends.
- **From 52-week high: -25.7%** (5.3% above the low). Trading 26% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 0.74** (volatility 22%). Beta of 0.74 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.