# Polar Capital Global Financials Trust (PCFT.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 254p, market value 399 millionp.

## Valuation
- **P/E (trailing): 10.2×** (5-yr avg 2746.5×, 3-yr avg 655.3×). Polar Capital Global Financials Trust trades at 10.2× trailing earnings, well below its own five-year average of 2746.5×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 2.2×**. Each dollar of revenue is priced at 2.2×.
- **Price / book: 1.1×**. The shares trade at 1.1× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 1.2×**. Enterprise value is 1.2× 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 -0.0%). Free cash flow equals 1.1% 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: 9.8%**. The inverse of the P/E: 9.8% of the price is earned each year.

## Profitability
- **Gross margin: 98.0%**. Polar Capital Global Financials Trust keeps 98.0% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 125.8%**. 125.8% of revenue is left after running the business, an exceptional level.
- **Net margin: 310.2%**. 310.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 14.5%**. 14.5% on shareholders' equity is solid.
- **Return on invested capital: 56.9%**. Return on all capital, debt included, is 56.9%: comfortably above what that capital costs.
- **Return on assets: 51.4%**. Each dollar of assets produces 51.4% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -90.1%** (3-yr 13.7%/yr). Revenue fell 90.1% over the last year.
- **EPS growth (1 yr): -57.4%** (3-yr 138.3%/yr). Earnings per share fell 57.4%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.
- **Cash and short-term investments: 14 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**. Polar Capital Global Financials Trust does not currently pay a dividend, but it returned 76.1% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 25.1%** (YTD 12.1%, 3-mo 15.1%). The shares are up 25.1% over twelve months including dividends.
- **From 52-week high: -2.5%** (27.5% 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): 65**. An RSI of 65 is neutral.
- **Beta (1 yr): 0.67** (volatility 16%). Beta of 0.67 against the FTSE All-Share: the shares move much less than the market.

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

Not investment advice.