# Pershing Square Holdings Ord (PSH.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 3866p, market value 6.7 billionp.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Pershing Square Holdings Ord reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 2.6×**. Each dollar of revenue is priced at 2.6×.
- **Price / book: 0.7×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 2.8×**. Enterprise value is 2.8× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: -14.2%** (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.

## Profitability
- **Gross margin: 96.9%**. Pershing Square Holdings Ord keeps 96.9% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 90.4%**. 90.4% of revenue is left after running the business, an exceptional level.
- **Net margin: 94.1%**. 94.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 16.8%**. 16.8% on shareholders' equity is solid.
- **Return on invested capital: 17.8%**. Return on all capital, debt included, is 17.8%: comfortably above what that capital costs.
- **Return on assets: 16.1%**. Each dollar of assets produces 16.1% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 122.7%** (5-yr -10.4%/yr). Revenue grew 122.7% over the last year, against -10.4% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 121.0%** (5-yr -4.9%/yr). Earnings per share rose 121.0%, roughly in step with revenue.

## Financial health
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.
- **Cash and short-term investments: 844 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 yield: 1.42%** (1p per share, trailing). Pershing Square Holdings Ord yields 1.42%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 5%**. 5% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 4**. 4 straight years of increases.
- **Dividend growth (5 yr): 4.8%/yr** (1-yr 10.6%). The dividend has grown 4.8% a year over five years.
- **Shareholder yield: 6.8%**. Dividends plus net buybacks return 6.8% of the market value a year.

## Price and momentum
- **Total return (1 yr): -11.9%** (YTD -19.6%, 3-mo -1.7%). The shares are down 11.9% over twelve months including dividends.
- **From 52-week high: -41.2%** (6.3% above the low). Trading 41% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 51**. An RSI of 51 is neutral.
- **Beta (1 yr): 0.86** (volatility 25%). Beta of 0.86 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.