# ProVen VCT (PVN.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services / Asset Management. Price 57p, market value 170 millionp.

## Valuation
- **P/E (trailing): 57.0×** (5-yr avg 4007.1×, 3-yr avg 4924.8×). ProVen VCT trades at 57.0× trailing earnings, well below its own five-year average of 4007.1×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 12.6×**. Each dollar of revenue is priced at 12.6×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 0.9×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 33.9×**. Enterprise value is 33.9× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: -2.5%** (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: 1.8%**. The inverse of the P/E: 1.8% of the price is earned each year.

## Profitability
- **Gross margin: 100.0%**. ProVen VCT keeps 100.0% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 35.6%**. 35.6% of revenue is left after running the business, an exceptional level.
- **Net margin: 115.2%**. 115.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 1.3%**. 1.3% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 3.5%**. Return on all capital, debt included, is 3.5%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 2.8%**. Each dollar of assets produces 2.8% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -41.6%** (5-yr -33.3%/yr). Revenue fell 41.6% over the last year, against -33.3% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -18.2%** (5-yr -37.9%/yr). Earnings per share fell 18.2%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.
- **Cash and short-term investments: 37 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**. ProVen VCT does not currently pay a dividend, but it returned 9.9% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 9898.4%** (YTD 9730.3%, 3-mo -0.8%). The shares are up 9898.4% over twelve months including dividends.
- **From 52-week high: -9.5%** (9900.0% above the low). Trading 10% 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.

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

Not investment advice.