# Montanaro European Smaller Companies Trust Plc (MTE.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 178p, market value 205 millionp.

## Valuation
- **P/E (trailing): 35.5×** (5-yr avg 1762.4×, 3-yr avg 1845.4×). Montanaro European Smaller Companies Trust Plc trades at 35.5× trailing earnings, well below its own five-year average of 1762.4×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 25.0×**. Each dollar of revenue is priced at 25.0×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 1.0×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **Free-cash-flow yield: 42.2%** (5-yr avg -0.0%). Free cash flow equals 42.2% of the market value, above its five-year average of -0.0%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 2.8%**. The inverse of the P/E: 2.8% of the price is earned each year.

## Profitability
- **Net margin: 81.6%**. 81.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 3.2%**. 3.2% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on assets: 3.0%**. Each dollar of assets produces 3.0% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 442.8%** (5-yr -40.3%/yr). Revenue grew 442.8% over the last year, against -40.3% a year compounded over five years: growth is accelerating.
- **Free-cash-flow growth (3 yr): 124.1%/yr**. Free cash flow has compounded at 124.1% a year over three years.

## Financial health
- **Cash and short-term investments: 5 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**. Montanaro European Smaller Companies Trust Plc does not currently pay a dividend, but it returned 42.6% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 6.9%** (YTD 7.2%, 3-mo -2.2%). The shares are up 6.9% over twelve months including dividends.
- **From 52-week high: -10.9%** (25.0% above the low). Trading 11% below 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): 54**. An RSI of 54 is neutral.
- **Beta (1 yr): 0.62** (volatility 15%). Beta of 0.62 against the FTSE All-Share: the shares move much less than the market.

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

Not investment advice.