# Henderson Smaller Companies Investment Trust (HSL.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 960p, market value 520 millionp.

## Valuation
- **P/E (trailing): 10.9×** (5-yr avg 873.8×, 3-yr avg 873.8×). Henderson Smaller Companies Investment Trust trades at 10.9× trailing earnings, well below its own five-year average of 873.8×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 9.5×**. Each dollar of revenue is priced at 9.5×.
- **Price / book: 1.0×**. The shares trade at 1.0× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 27.2%** (5-yr avg 0.1%). Free cash flow equals 27.2% 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: 9.2%**. The inverse of the P/E: 9.2% of the price is earned each year.

## Profitability
- **Net margin: 98.0%**. 98.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 9.6%**. 9.6% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on assets: 8.6%**. Each dollar of assets produces 8.6% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 235.0%** (5-yr -31.7%/yr). Revenue grew 235.0% over the last year, against -31.7% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 233.9%** (5-yr -29.1%/yr). Earnings per share rose 233.9%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): 86.3%/yr**. Free cash flow has compounded at 86.3% a year over three years.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: 8 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**. Henderson Smaller Companies Investment Trust does not currently pay a dividend, but it returned 21.6% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 14.1%** (YTD 13.3%, 3-mo 8.7%). The shares are up 14.1% over twelve months including dividends.
- **From 52-week high: -4.0%** (24.8% 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): 53**. An RSI of 53 is neutral.
- **Beta (1 yr): 0.75** (volatility 16%). Beta of 0.75 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.