Momentum
Relative Strength (%)
1m
3m -5.7%
1yr -7.4%
Volume Change (%)
10d v 3m
Price vs... (%)
52w High -13.7%
50d MA +1.68%
200d MA -2.97%
vs.
market
vs.
industry
Growth & Value
Trailing 12m
PE Ratio (ttm) 2.92
PEG Ratio (ttm) n/a
EPS Growth (ttm) 6.59 %
Dividend Yield (ttm) 1.79 %
Valuation (ttm)
Price to Book Value 0.87
Price to Tang. Book 0.87
Price to Free Cashflow n/a
Price to Sales 2.81
EV to EBITDA 3.24

Margin of Safety (beta)
Screens Passed

HSL doesn't qualify for our screens.
Find out why:   View Checklists

vs.
market
vs.
industry
Quality
Return on Capital 28.6 %
Return on Equity 34.8 %
Operating Margin 96.3 %
Balance Sheet · Income Statement · Cashflow Financial Summary
Year End 31st May 2008 2009 2010 2011 2012 2013 TTM 2014E 2015E CAGR / Avg
Revenue £m -63.2 -88.1 62.7 98.4 -10.9 133.7 141.3
Operating Profit £m -66.1 -90.4 59.5 93.3 -14.6 127.7 136.1
Net Profit £m -66.1 -90.4 59.5 93.3 -14.6 127.7 136.1
EPS Reported p -79.3 -115.4 79.3 124.6 -19.6 171 182.2
EPS Normalised p -79.3 -115.4 79.3 124.6 -19.6 171 182.2
EPS Growth % +57.2 +6.6
PE Ratio x 3.11 2.92 n/a n/a
PEG x n/a n/a n/a n/a
Profitability
Operating Margin % 104.6 102.6 95.0 94.8 133.8 95.6 96.3 +104.4%
ROA % -38.6 29.2 33.4 -4.6 34.2 28.8
ROCE % -24.0 -51.2 26.2 29.3 -4.9 30.2 28.6 +1.0%
ROE % -43.9 32.7 36.9 -5.1 37.4 34.8 +11.6%
Cashflow
Op. Cashflow ps p 28.8 27.9 9.61 -2.35 4.23 -3.86 -17.0
Capex ps p 0.000 0.000 0.000 0.000 0.000 0.000 0.000
Free Cashflow ps p 28.8 27.9 9.61 -2.35 4.23 -3.86 -17.0
Last ex-div: 17th Sep, paid: 10th Oct more... Dividends
Dividend ps p 2.20 3.00 3.60 4.20 5.50 6.50 9.50 +24.2%
Dividend Growth % +29.4 +36.4 +20.0 +16.7 +31.0 +18.2 +46.2
Dividend Yield % 1.22 1.79
Dividend Cover x -36.1 -38.5 22.0 29.7 -3.56 26.3 19.2
Balance Sheet
Cash etc £m 0.75 0.75 1.66 0.65 0.27 2.60 0.82 +28.5%
Working Capital £m -11.3 2.12 0.22 -8.22 -4.40 -13.2 -25.2
Net Fixed Assets £m 286.8 174.2 227.3 326.4 304.3 436.7 502.1 +8.8%
Net Debt £m 32.8 19.3 20.3 25.4 25.8 32.9 43.3 +0.2%
Book Value £m 255.5 156.3 207.5 298.2 279.9 403.4 456.8 +9.6%
Average Shares m 83.4 78.3 75.1 74.9 74.8 74.7 74.7 -2.2%
Book Value ps p 317.6 202.1 277.1 398.1 374.5 540 611.5 +11.2%

FINANCIAL BRIEF: For the six months ended 30 November 2013, The Henderson Smaller Co's Inv.Trust plc revenues increased 14% to L60.6M. Net income increased 17% to L58.3M. Revenues reflect Gain on Investments held at FV through P increase of 12% to L55.3M, Income from Fixed Asset Investments increase of 44% to L5.2M. Dividend per share totaled to L0.03. Basic Earnings per Share excluding Extraordinary Items increased from L0.67 to L0.78. more »

Health Trend

Bankruptcy Risk

N/A Earnings Manipulation Risk

Magic Formula Score

Other Ratios
Leverage (ttm) Total Ex Intang
Gross Gearing % 9.67 9.67
Net Gearing % 9.49 9.49
Cash / Assets % 0.17
Liquidity (ttm)
Curr. Ratio 0.057
Quick Ratio 0.057
Interest Cov. n/a
Efficiency (ttm)
Asset Turnover 0.30
Rec's Turnover n/a
Stock Turnover n/a

vs.
market
vs.
industry
Recent History
Latest interim period (ended 30th Nov '13) vs. prior year
Sales Growth 14.5 %
EPS Growth 16.9 %
3yr Compound Annual Growth Rate
Sales Growth 28.7 %
EPS Growth 29.2 %
DPS Growth 21.8 %
Graphical History Current Fiscal Year 2014

Broker Forecasts
31st May 2014
31st May 2015

Price Target: N/A Net Profit EPS DPS Net Profit EPS DPS
Est. Long Term Growth Rate: n/a (£) (£) (£) (£) (£) (£)
Consensus Estimate - - - - - -
1m Change - - - - - -
3m Change - - - - - -
Broker Consensus Trend
Broker Recommendations for Henderson Smaller Cos Investment Trust Closed Fund
Recommendation:Strong SellSellHoldBuyStrong Buy
No. of Analysts: 0 0 1 1 0

Named Brokers and Analysts
There are no named brokers.

Profile Summary

The Henderson Smaller Companies Investment Trust plc is an investment trust. The Company's objective is to maximize shareholders’ total returns by investing mainly in smaller companies that are quoted in the United Kingdom. The Company invests in companies that are listed or quoted in the United Kingdom. The Company’s benchmark Index is Numis Smaller Companies Index (excluding investment companies). The Company’s sector includes electronic and electrical equipment, financial services, software and computer services, general retailers, aerospace and defence, technology hardware and equipment, mobile telecommunications and food producers. The Company’s portfolio of investments is managed by Henderson Global Investors Limited.

Directors: Neil Hermon (OTH) , Rachel Peat (SEC) , Jamie Cayzer-Colvin (NEC) 49, David Lamb (NED) , Beatrice Hollond (NID) 51, Keith Percy (NID) 69, Mary Sieghart (NID) ,

No. of Employees: 0 No. of Shareholders: 0


Last Annual May 31st, 2013
Last Interim November 30th, 2013
Shares in Issue 74,701,796
Free Float 73.7m (98.6%)
ISIN GB0009065060
Sector Financials
Industry Collective Investments
Index FTSE All Share Financials , FTSE All Share Equity Investment Instruments , FTSE Small Cap ,
Exchange London Stock Exchange (Full) (Dual Listing)
Eligible for an ISA? a SIPP?

Address 201 Bishopsgate, LONDON, EC2M 3AE, United Kingdom
Web http://www.henderson.com
Phone +44 20 78181818
Contact ()
Auditors PricewaterhouseCoopers LLP

Use of our data service is subject to express Terms of Service. Please see our full site disclaimer for more details. In particular, it is very important to do your own research (DYOR) and seek professional advice before making any investment based on your own personal circumstances. Please note that the information, data and analysis contained within this stock report: (a) include the proprietary information of Stockopedia's third party licensors and Stockopedia; (b) should not be copied or redistributed except as specifically authorised; and (c) are not warranted to be complete, accurate or timely. You should independently research and verify any information that you find in this report. Stockopedia will not be liable in respect of any loss, trading or otherwise, that you may suffer arising out of such information or any reliance you may place upon it. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up. © Stockopedia 2014.


Should you buy HSL

Access HSL Analytics Now!

FREE TRIAL or TAKE THE TOUR