# The Schiehallion Fund Limited (MNTN.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services / Capital Markets. Price $2.19, market value $2.3 billion.

## Valuation
- **P/E (trailing): 5.1×** (5-yr avg 26.5×, 3-yr avg 7.4×). The Schiehallion Fund Limited trades at 5.1× trailing earnings, well below its own five-year average of 26.5×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 10.8×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 0.06**. A PEG of 0.06 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 3.6×**. Each dollar of revenue is priced at 3.6×.
- **Price / book: 1.2×**. The shares trade at 1.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 3.5×**. Enterprise value is 3.5× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: -1.1%** (5-yr avg -0.7%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 19.6%**. The inverse of the P/E: 19.6% of the price is earned each year.

## Profitability
- **Gross margin: 97.9%**. The Schiehallion Fund Limited keeps 97.9% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 70.7%**. 70.7% of revenue is left after running the business, an exceptional level.
- **Net margin: 99.4%**. 99.4% of each dollar of sales reaches the bottom line.
- **Return on equity: 24.5%**. 24.5% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 24.6%**. Return on all capital, debt included, is 24.6%: comfortably above what that capital costs.
- **Return on assets: 33.0%**. Each dollar of assets produces 33.0% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 182.2%** (5-yr 16.1%/yr). Revenue grew 182.2% over the last year, against 16.1% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 186.7%** (5-yr -0.5%/yr). Earnings per share rose 186.7%, roughly in step with revenue.

## Financial health
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.
- **Cash and short-term investments: $13 million**. 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**. The Schiehallion Fund Limited does not currently pay a dividend, but it returned 0.8% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 80.3%** (YTD 55.5%, 3-mo 0.5%). The shares are up 80.3% over twelve months including dividends.
- **From 52-week high: -4.6%** (98.5% 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): 59**. An RSI of 59 is neutral.
- **Beta (1 yr): 0.36** (volatility 33%). Beta of 0.36 against the FTSE All-Share: the shares move much less than the market.

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

Not investment advice.