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Henderson High Income Trust PLC
(LSE:HHI)
Select Model
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Rating:73Outperform
Price Target:
231.00 p
▲(11.06% Upside)
Action:Upgraded
Date:08/06/26
The score is driven mainly by solid overall financial footing (notably low leverage) and attractive valuation (low P/E and high dividend yield). These positives are moderated by weak latest cash conversion (free cash flow at 0 despite strong reported earnings) and sharp revenue decline, while technicals provide a supportive trend backdrop.
Positive Factors
Low leverage / balance sheet strength
Very low debt-to-equity (~0.06) and growing assets provide durable financial flexibility. This conservatism reduces default and refinancing risk, enabling the trust to withstand market stress, preserve distributions and selectively deploy capital or modest leverage when attractive opportunities arise.
Negative Factors
Weak cash conversion / free cash flow
A collapse in free cash flow to zero while net income is high signals reliance on non-cash items or timing gains. For an income trust, weak cash conversion threatens sustainable distributions, increases dependence on asset sales or unrealized gains, and raises liquidity risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / balance sheet strength
Very low debt-to-equity (~0.06) and growing assets provide durable financial flexibility. This conservatism reduces default and refinancing risk, enabling the trust to withstand market stress, preserve distributions and selectively deploy capital or modest leverage when attractive opportunities arise.
Read all positive factors
Henderson High Income Trust PLC (HHI) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£342.43M
Dividend Yield5.51%
Average Volume (3M)166.74K
Price to Earnings (P/E)7.8
Beta (1Y)1.02
Revenue Growth2.56%
EPS Growth5.22%
CountryUK
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryAsset Management - Income
Share Statistics
EPS (TTM)0.26
Shares Outstanding169,519,010
10 Day Avg. Volume192,454
30 Day Avg. Volume166,743
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.94
Price to Sales (P/S)14.17
P/FCF Ratio19.48
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Henderson High Income Trust PLC Business Overview & Revenue Model
Company Description
Operating as a closed-end equity investment trust, Henderson High Income Trust plc is managed by Henderson Investment Funds Limited, with co-management responsibilities held by Henderson Global Investors Limited. This UK-domiciled entity commenced...
How the Company Makes Money
HHI makes money primarily through investment returns generated by the securities it holds in its portfolio. Its key economic return sources are: (1) Dividend income from equity holdings—cash dividends paid by UK listed companies in which the trust...
Henderson High Income Trust PLC Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
83
Very Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.83M | 22.58M | 24.43M | 26.02M | 12.39M | 16.16M |
| Gross Profit | 6.27M | 20.98M | 31.98M | 26.02M | -7.53M | 40.76M |
| EBITDA | 48.35M | 62.91M | 29.18M | 23.13M | -10.94M | 38.39M |
| Net Income | 45.45M | 60.03M | 25.98M | 21.42M | -11.02M | 37.59M |
Balance Sheet | ||||||
| Total Assets | 424.44M | 405.94M | 371.61M | 274.09M | 264.85M | 294.97M |
| Cash, Cash Equivalents and Short-Term Investments | 6.55M | 3.75M | 2.49M | 1.99M | -2.87M | 3.94M |
| Total Debt | 71.35M | 64.78M | 67.44M | 50.51M | 49.00M | 57.44M |
| Total Liabilities | 72.63M | 65.75M | 68.40M | 51.75M | 50.58M | 58.73M |
| Stockholders Equity | 351.81M | 340.19M | 303.21M | 222.34M | 214.28M | 236.23M |
Cash Flow | ||||||
| Free Cash Flow | 16.27M | 16.43M | 17.92M | 12.88M | 13.26M | 11.59M |
| Operating Cash Flow | 16.27M | 16.43M | 17.92M | 12.88M | 13.26M | 11.59M |
| Investing Cash Flow | 1.62M | 10.75M | -46.67M | -357.00K | 8.74M | -2.55M |
| Financing Cash Flow | -15.43M | -26.07M | 29.74M | -14.28M | -23.78M | -5.67M |
Henderson High Income Trust PLC Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | £239.63M | 12.98 | 15.69% | 4.46% | 5.81% | 19.28% | |
74 Outperform | £788.21M | 7.69 | 11.59% | 7.30% | 37.81% | 83.65% | |
74 Outperform | £9.09B | 13.35 | 15.55% | 3.74% | 17.81% | 93.71% | |
73 Outperform | £342.43M | 7.77 | 13.14% | 5.51% | 2.56% | 5.22% | |
70 Outperform | £776.21M | -4.78 | -19.34% | 2.56% | -491.36% | -800.21% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | £43.69M | -1.53 | -13.29% | 240.38% | -29.93% | -1363.64% |
* General Sector Average
GB:HHI
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19.22%
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Henderson High Income Trust PLC Corporate Events
DividendsRegulatory Filings and Compliance
Henderson High Income Director Adds Shares via Dividend Reinvestment
Positive
Jul 28, 2026
Henderson High Income Trust plc disclosed that director Francesca Ecsery acquired additional ordinary shares through an automatic dividend reinvestment plan. The transaction involved the purchase of 97 shares at a price of 206.75 pence per share o...
Business Operations and StrategyRegulatory Filings and Compliance
Henderson High Income Trust Publishes June 2026 Monthly Factsheet
Positive
Jul 22, 2026
Henderson High Income Trust PLC has released its monthly factsheet for 30 June 2026, providing updated information on the trust’s portfolio and performance for investors. The document has been submitted to the UK Financial Conduct Authority&...
Business Operations and StrategyDividends
Henderson High Income Trust Declares Third Interim Dividend for 2026
Positive
Jul 6, 2026
Henderson High Income Trust PLC, managed by Janus Henderson Fund Management UK Limited, operates as a UK investment trust focused on providing high income through a portfolio of income-generating securities. It serves investors who seek regular di...
Business Operations and StrategyRegulatory Filings and Compliance
Henderson High Income Trust Reveals 3i Group Stake in Portfolio Update
Neutral
Jul 2, 2026
Henderson High Income Trust PLC, managed by Janus Henderson Fund Management UK Limited, is a UK-listed closed-ended investment trust that aims to deliver high income to shareholders through investments in income-generating securities. It serves in...
Financial DisclosuresRegulatory Filings and Compliance
Henderson High Income Trust Files May 2026 Monthly Factsheet
Positive
Jun 23, 2026
Henderson High Income Trust PLC has released its monthly factsheet for 31 May 2026, providing updated information on the trust’s performance and portfolio for investors. The document has been filed with the UK’s National Storage Mechan...
Financial DisclosuresRegulatory Filings and Compliance
Henderson High Income Trust Publishes April 2026 Monthly Factsheet
Neutral
May 26, 2026
Henderson High Income Trust PLC has released its monthly factsheet for 30 April 2026, providing updated portfolio and performance information for investors. The document has been submitted to the National Storage Mechanism and will also be made av...
Business Operations and StrategyStock BuybackDividendsShareholder Meetings
Henderson High Income Trust Wins Shareholder Backing for AGM Resolutions and Capital Flexibility
Positive
May 12, 2026
Henderson High Income Trust PLC reported that all 15 resolutions proposed at its latest Annual General Meeting were approved by shareholders on a poll, including the receipt of the 2025 accounts, reappointment of all directors, adoption of the rem...
Dividends
Henderson High Income Trust Declares Second Interim Dividend for 2026
Positive
May 12, 2026
Henderson High Income Trust plc has declared a second interim dividend of 2.775 pence per ordinary share, relating to the financial year ending 31 December 2026. The dividend will be paid from the company’s revenue account on 24 July 2026 to...
Business Operations and StrategyDividendsFinancial Disclosures
Henderson High Income Marks 13th Year of Dividend Growth as New Research Published
Positive
May 11, 2026
Henderson High Income Trust PLC has achieved its 13th consecutive year of dividend growth, reinforcing its reputation as a reliable income-focused investment vehicle for long-term investors. This sustained record underscores the trust’s abil...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.