# Nippon Active Value Fund plc (NAVF.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 230p, market value 453 millionp.

## Valuation
- **P/E (trailing): 6.8×** (5-yr avg 970.8×, 3-yr avg 571.7×). Nippon Active Value Fund plc trades at 6.8× trailing earnings, well below its own five-year average of 970.8×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 3.6×**. Each dollar of revenue is priced at 3.6×.
- **Price / book: 1.1×**. The shares trade at 1.1× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 3.8×**. Enterprise value is 3.8× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 1.3%** (5-yr avg 0.0%). Free cash flow equals 1.3% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 14.8%**. The inverse of the P/E: 14.8% of the price is earned each year.

## Profitability
- **Gross margin: 95.1%**. Nippon Active Value Fund plc keeps 95.1% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 92.9%**. 92.9% of revenue is left after running the business, an exceptional level.
- **Net margin: 96.0%**. 96.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 14.9%**. 14.9% on shareholders' equity is solid.
- **Return on invested capital: 27.3%**. Return on all capital, debt included, is 27.3%: comfortably above what that capital costs.
- **Return on assets: 26.1%**. Each dollar of assets produces 26.1% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 30.5%** (3-yr 117.8%/yr, 5-yr 35.0%/yr). Revenue grew 30.5% over the last year, against 35.0% a year compounded over five years.
- **EPS growth (1 yr): 30.8%** (3-yr 96.1%/yr, 5-yr 19.4%/yr). Earnings per share rose 30.8%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): 12.6%/yr**. Free cash flow has compounded at 12.6% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.
- **Cash and short-term investments: 10 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**. Nippon Active Value Fund plc does not currently pay a dividend, but it returned -27.5% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 4.6%** (YTD 10.2%, 3-mo 3.7%). The shares are up 4.6% over twelve months including dividends.
- **From 52-week high: -8.9%** (17.9% above the low). Trading 9% 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): 49**. An RSI of 49 is neutral.
- **Beta (1 yr): 0.49** (volatility 21%). Beta of 0.49 against the FTSE All-Share: the shares move much less than the market.

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

Not investment advice.