# Pacific Horizon Investment Trust (PHI.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 1134p, market value 882 millionp.

## Valuation
- **P/E (trailing): 3.9×** (5-yr avg 1226.4×, 3-yr avg 1681.1×). Pacific Horizon Investment Trust trades at 3.9× trailing earnings, well below its own five-year average of 1226.4×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 2.7×**. Each dollar of revenue is priced at 2.7×.
- **Price / book: 1.2×**. The shares trade at 1.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 2.4×**. Enterprise value is 2.4× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: -0.0%** (5-yr avg 0.0%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 25.5%**. The inverse of the P/E: 25.5% of the price is earned each year.

## Profitability
- **Gross margin: 98.2%**. Pacific Horizon Investment Trust keeps 98.2% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 97.2%**. 97.2% of revenue is left after running the business, an exceptional level.
- **Net margin: 89.5%**. 89.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 7.1%**. 7.1% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 49.3%**. Return on all capital, debt included, is 49.3%: comfortably above what that capital costs.
- **Return on assets: 48.1%**. Each dollar of assets produces 48.1% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 14.7%** (5-yr -9.8%/yr). Revenue grew 14.7% over the last year, against -9.8% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 63.3%** (5-yr -18.5%/yr). Earnings per share rose 63.3%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): -25.2%/yr**. Free cash flow has compounded at -25.2% a year over three years.

## Financial health
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.
- **Cash and short-term investments: 4 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**. Pacific Horizon Investment Trust does not currently pay a dividend, but it returned 5.7% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 65.4%** (YTD 44.2%, 3-mo 2.5%). The shares are up 65.4% over twelve months including dividends.
- **From 52-week high: -11.7%** (66.6% above the low). Trading 12% 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): 57**. An RSI of 57 is neutral.
- **Beta (1 yr): 0.66** (volatility 27%). Beta of 0.66 against the FTSE All-Share: the shares move much less than the market.

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

Not investment advice.