# HICL INFRASTRUCTURE PLC (HICL.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 135p, market value 2.5 billionp.

## Valuation
- **P/E (trailing): 9.6×** (5-yr avg 3338.3×, 3-yr avg 4731.6×). HICL INFRASTRUCTURE PLC trades at 9.6× trailing earnings, well below its own five-year average of 3338.3×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 12.5×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 0.02**. A PEG of 0.02 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 4.9×**. Each dollar of revenue is priced at 4.9×.
- **Price / book: 0.8×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 8.0×**. Enterprise value is 8.0× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 11.5%** (5-yr avg 0.1%). Free cash flow equals 11.5% 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: 10.4%**. The inverse of the P/E: 10.4% of the price is earned each year.

## Profitability
- **Gross margin: 68.5%**. HICL INFRASTRUCTURE PLC keeps 68.5% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 37.7%**. 37.7% of revenue is left after running the business, an exceptional level.
- **Net margin: 155.0%**. 155.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 8.8%**. 8.8% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 6.4%**. Return on all capital, debt included, is 6.4%.
- **Return on assets: 10.3%**. Each dollar of assets produces 10.3% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 244.7%** (3-yr -5.2%/yr, 5-yr 2.1%/yr). Revenue grew 244.7% over the last year, against 2.1% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 514.0%** (3-yr 12.2%/yr, 5-yr 12.1%/yr). Earnings per share rose 514.0%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -0.6%/yr**. Free cash flow has compounded at -0.6% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: 900,000p**. 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**. HICL INFRASTRUCTURE PLC does not currently pay a dividend, but it returned 6.5% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 12.4%** (YTD 17.0%, 3-mo 3.2%). The shares are up 12.4% over twelve months including dividends.
- **From 52-week high: -4.3%** (25.9% 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): 47**. An RSI of 47 is neutral.
- **Beta (1 yr): 0.48** (volatility 17%). Beta of 0.48 against the FTSE All-Share: the shares move much less than the market.

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

Not investment advice.