# Ruffer Investment Company Limited (RICA.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 298p, market value 858 millionp.

## Valuation
- **P/E (trailing): 10.7×** (5-yr avg 3882.7×, 3-yr avg 6117.9×). Ruffer Investment Company Limited trades at 10.7× trailing earnings, well below its own five-year average of 3882.7×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 11.0×**. Each dollar of revenue is priced at 11.0×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 1.0×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 95.1×**. Enterprise value is 95.1× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 16.2%** (5-yr avg 0.0%). Free cash flow equals 16.2% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 9.4%**. The inverse of the P/E: 9.4% of the price is earned each year.

## Profitability
- **Gross margin: 100.0%**. Ruffer Investment Company Limited 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: 70.7%**. 70.7% of revenue is left after running the business, an exceptional level.
- **Net margin: 62.5%**. 62.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.7%**. 4.7% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 6.2%**. Return on all capital, debt included, is 6.2%.
- **Return on assets: 5.1%**. Each dollar of assets produces 5.1% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 240.8%** (3-yr 25.7%/yr, 5-yr 12.0%/yr). Revenue grew 240.8% over the last year, against 12.0% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 383.3%** (3-yr 2.7%/yr, 5-yr -10.8%/yr). Earnings per share rose 383.3%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.
- **Cash and short-term investments: 26 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: 2.07%** (0p per share, trailing). Ruffer Investment Company Limited yields 2.07%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 47%** (25% of free cash flow). 47% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 8**. 8 straight years of increases.
- **Dividend growth (5 yr): 26.7%/yr** (1-yr 21.6%). The dividend has compounded at 26.7% a year over five years, doubling roughly every 3 years at that pace.
- **Shareholder yield: 20.2%**. Dividends plus net buybacks return 20.2% of the market value a year.

## Price and momentum
- **Total return (1 yr): 4.5%** (YTD 1.3%, 3-mo -0.8%). The shares are up 4.5% over twelve months including dividends.
- **From 52-week high: -6.5%** (6.0% above the low). Trading 7% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 49**. An RSI of 49 is neutral.
- **Beta (1 yr): 0.11** (volatility 10%). Beta of 0.11 against the FTSE All-Share: the shares move much less than the market.

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

Not investment advice.