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HICL Infra Co Shs GBP
(LSE:HICL)
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Rating:74Outperform
Price Target:
150.00 p
â–²(9.17% Upside)
Action:Reiterated
Date:09/14/26
The score is driven primarily by solid financial fundamentals (debt-free balance sheet and consistently positive free cash flow) and attractive valuation (low P/E and high dividend yield). These positives are moderated by weaker near-term technical momentum and uncertainty from a choppy, recently declining revenue trajectory.
Positive Factors
Debt-free balance sheet
Zero total debt and a large equity base give HICL a conservative capital structure, reducing balance-sheet strain and preserving flexibility to absorb project variation, fund portfolio activity, or sustain distributions without relying on lenders.
Negative Factors
Volatile and declining revenue
A volatile revenue profile, including an approximately 18.6% year-over-year decline in 2026, weakens confidence that current earnings and distributions can compound consistently. Continued variability could make portfolio performance and future cash-flow planning less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Zero total debt and a large equity base give HICL a conservative capital structure, reducing balance-sheet strain and preserving flexibility to absorb project variation, fund portfolio activity, or sustain distributions without relying on lenders.
Read all positive factors
HICL Infra Co Shs GBP (HICL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.50B
Dividend Yield6.24%
Average Volume (3M)2.61M
Price to Earnings (P/E)9.7
Beta (1Y)0.79
Revenue Growth44.39%
EPS Growth20.63%
CountryUK
EmployeesN/A
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)0.14
Shares Outstanding1,860,242,100
10 Day Avg. Volume3,012,258
30 Day Avg. Volume2,606,008
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.77
Price to Sales (P/S)13.51
P/FCF Ratio14.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£135.00Price Target Upside-1.75% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.11
Revenue Forecast (FY)£266.00M
HICL Infra Co Shs GBP Business Overview & Revenue Model
Company Description
HICL Infrastructure PLC utilizes a two-pronged investment approach, focusing on both direct equity stakes in infrastructure projects and capital allocations to other infrastructure funds. Regarding its direct investments, the company seeks out opp...
How the Company Makes Money
HICL makes money primarily by owning equity stakes in infrastructure project companies and receiving cash distributions generated by those projects over long-term contracts. Key revenue and value drivers generally include: (1) Contracted project c...
HICL Infra Co Shs GBP Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
86
Very Positive
Cash Flow
73
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 172.00M | 49.90M | 35.20M | 202.20M | 371.70M |
| Gross Profit | 171.90M | 49.90M | 35.10M | 202.30M | 371.80M |
| EBITDA | 266.60M | 45.90M | 66.80M | 198.40M | 368.70M |
| Net Income | 266.60M | 45.90M | 30.50M | 198.40M | 368.70M |
Balance Sheet | |||||
| Total Assets | 3.04B | 3.03B | 3.21B | 3.35B | 3.16B |
| Cash, Cash Equivalents and Short-Term Investments | 900.00K | 700.00K | 1.10M | 1.00M | 1.20M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 4.70M | 1.80M | 900.00K | 1.10M | 800.00K |
| Stockholders Equity | 3.03B | 3.03B | 3.21B | 3.35B | 3.16B |
Cash Flow | |||||
| Free Cash Flow | 162.00M | 126.90M | 167.70M | 165.20M | 160.60M |
| Operating Cash Flow | 162.00M | 126.90M | 167.70M | 165.20M | 160.60M |
| Investing Cash Flow | 100.00M | 100.00M | 0.00 | -157.90M | 0.00 |
| Financing Cash Flow | -261.80M | -227.30M | -167.60M | -7.50M | -159.80M |
HICL Infra Co Shs GBP Technical Analysis
Positive
137.40
Price Trends
134.74
Negative
131.29
Positive
122.88
Positive
Market Momentum
-0.52
Positive
49.09
Neutral
54.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HICL, the sentiment is Positive. The current price of 137.4 is above the 20-day moving average (MA) of 135.24, above the 50-day MA of 134.74, and above the 200-day MA of 122.88, indicating a neutral trend. The MACD of -0.52 indicates Positive momentum. The RSI at 49.09 is Neutral, neither overbought nor oversold. The STOCH value of 54.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:HICL.
HICL Infra Co Shs GBP Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £513.95M | 11.74 | 46.72% | 6.08% | 7.26% | 30.92% | |
75 Outperform | £9.11B | 13.35 | 15.55% | 3.74% | 17.81% | 93.71% | |
74 Outperform | £2.50B | 9.73 | 8.82% | 6.24% | 44.39% | 20.63% | |
66 Neutral | £5.33B | 11.43 | 18.00% | 4.56% | 6.46% | 6.47% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | £237.90M | -2.00 | -28.75% | 18.59% | 102.27% | -2044.26% | |
44 Neutral | $20.16M | -2.11 | -18.19% | 49.26% | -65.77% | 81.79% |
* General Sector Average
GB:HICL
HICL Infra Co Shs GBP
134.40
23.32
20.99%
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HICL Infra Co Shs GBP Corporate Events
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Boosts Treasury Stock with 1 Million-Share Buyback
Positive
Sep 14, 2026
HICL Infrastructure PLC has repurchased 1,000,000 of its ordinary shares at a weighted average price of 133.6106 pence via Investec Bank, with the highest price paid at 133.90 pence and the lowest at 133.00 pence. Following this buyback, HICL now ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Boosts Treasury Stock with New Share Buyback
Positive
Sep 11, 2026
HICL Infrastructure PLC has bought back 300,000 of its ordinary shares at a price of 132 pence per share via Investec Bank, and intends to hold these shares in treasury. Following this transaction, the company holds 171,245,988 shares in treasury,...
Business Operations and Strategy
HICL Infrastructure Showcased in New Long-Term Investor Research
Positive
Sep 3, 2026
HICL Infrastructure PLC has highlighted a new in-depth research report on the trust produced by Kepler Trust Intelligence’s investment companies team, aimed at long-term UK investors. The note, described as investment bank-quality, is intend...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresM&A Transactions
HICL Infrastructure lifts stake in Cross London Trains and sharpens growth strategy
Positive
Aug 3, 2026
HICL reported a strong start to its financial year, with portfolio assets performing in line with expectations and capex programmes at growth assets driving EBITDA expansion. The company completed the purchase of an additional 6.65% stake in Cross...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure buys back 500,000 shares for treasury
Positive
Aug 3, 2026
HICL Infrastructure PLC has repurchased 500,000 of its own ordinary shares at a weighted average price of 136 pence, executing the transaction through Investec Bank. The company intends to hold these shares in treasury, bringing its total treasury...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Boosts Treasury Stock with New Share Buyback
Neutral
Jul 28, 2026
HICL Infrastructure PLC has repurchased 750,000 of its own ordinary shares via Investec Bank at a weighted average price of 135.40 pence, with prices ranging between 135.00 and 135.60 pence. Following this transaction, the company intends to hold ...
Stock BuybackRegulatory Filings and Compliance
HICL Infrastructure Boosts Treasury Stock With 400,000-Share Buyback
Neutral
Jul 27, 2026
HICL Infrastructure PLC has executed a buyback of 400,000 ordinary shares at a weighted average price of 134.20 pence per share, with Investec Bank plc acting as intermediary in the transaction on 24 July 2026. The company intends to hold these re...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Repurchases 750,000 Shares for Treasury
Positive
Jul 23, 2026
HICL Infrastructure PLC has repurchased 750,000 of its ordinary shares at a weighted average price of 134.94 pence, executing the buyback through Investec Bank. Following this transaction, the company now holds 169,295,988 shares in treasury and h...
Regulatory Filings and ComplianceShareholder Meetings
HICL Infrastructure Passes All AGM Resolutions Amid Shareholder Dissent on Key Items
Neutral
Jul 23, 2026
HICL Infrastructure PLC reported the results of its annual general meeting held on 22 July 2026 in London, confirming that all ordinary and special resolutions were passed by poll. The company noted that polling is its preferred governance practic...
Business Operations and StrategyShareholder Meetings
HICL Infrastructure Wins AGM Backing but Faces Shareholder Dissent on Key Resolutions
Neutral
Jul 22, 2026
HICL Infrastructure PLC reported that all resolutions put to shareholders at its annual general meeting on 22 July 2026 were duly passed following a poll vote, with more than 1.06 billion votes cast. The use of poll voting is intended to ensure fu...
Business Operations and StrategyDividends
HICL Infrastructure Announces First Interim Dividend and Reinvestment Option
Positive
Jul 22, 2026
HICL Infrastructure PLC has declared its first interim dividend for the financial year ending 31 March 2027, setting the payment at 2.12 pence per ordinary share for shareholders on the register as of 28 August 2026. The dividend, which will go ex...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Boosts Treasury Stock With 500,000-Share Buyback
Positive
Jul 22, 2026
HICL Infrastructure PLC has repurchased 500,000 ordinary shares at a weighted average price of 134.9208 pence, executing the buyback through Investec Bank. The company intends to hold these shares in treasury, bringing its treasury holding to 168,...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Buys Back 750,000 Shares for Treasury Holding
Positive
Jul 21, 2026
HICL Infrastructure PLC has bought back 750,000 of its own ordinary shares at a weighted average price of 135.0204 pence, with the trades executed through Investec Bank on 20 July 2026 and the shares to be held in treasury. Following this transact...
Stock BuybackRegulatory Filings and Compliance
HICL Infrastructure Buys Back 750,000 Shares, Updates Voting Rights
Positive
Jul 20, 2026
HICL Infrastructure PLC has repurchased 750,000 of its ordinary shares at a weighted average price of 135.0433 pence, with prices ranging between 134.80 pence and 135.40 pence. The transaction was executed through Investec Bank plc on 17 July 2026...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Boosts Treasury Stock with 100,000-Share Buyback
Positive
Jul 17, 2026
HICL Infrastructure PLC has repurchased 100,000 of its ordinary shares at a weighted average price of 134.3548 pence, with the transaction executed through Investec Bank plc on 16 July 2026. The company intends to hold these shares in treasury, in...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Boosts Treasury Stock With Share Buyback
Positive
Jul 16, 2026
HICL Infrastructure PLC has repurchased 350,000 of its ordinary shares at a weighted average price of 134.407 pence, executing the transaction via Investec Bank plc as part of an ongoing programme to deal in its own stock. The newly acquired share...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Boosts Treasury Holdings with New Share Buyback
Positive
Jul 15, 2026
HICL Infrastructure PLC has executed a share buyback, purchasing 250,000 ordinary shares at a weighted average price of 134.80 pence through Investec Bank plc on 14 July 2026. The company intends to hold these repurchased shares in treasury, incre...
Business Operations and StrategyStock Buyback
HICL Infrastructure Buys Back 500,000 Shares for Treasury
Positive
Jul 14, 2026
HICL Infrastructure PLC has repurchased 500,000 of its ordinary shares at a weighted average price of 134.5224 pence per share through Investec Bank, and intends to hold these shares in treasury. Following this transaction, HICL holds 165,845,988 ...
Stock BuybackRegulatory Filings and Compliance
HICL Infrastructure Boosts Treasury Stock with Share Buyback
Neutral
Jul 7, 2026
HICL Infrastructure PLC has repurchased 100,407 of its ordinary shares at a weighted average price of 133.9494 pence, executing the buyback through Investec Bank. Following this transaction, the company now holds 165,345,988 shares in treasury, wi...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Repurchases 500,000 Shares for Treasury
Positive
Jul 3, 2026
HICL Infrastructure PLC has repurchased 500,000 of its own ordinary shares at a weighted average price of 133.20 pence per share through Investec Bank, and intends to hold these shares in treasury. Following this transaction, the company holds 165...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Boosts Treasury Stock with 1 Million-Share Buyback
Positive
Jul 2, 2026
HICL Infrastructure PLC has repurchased 1,000,000 of its ordinary shares at a weighted average price of 132.64 pence, with the trades executed through Investec Bank on the London Stock Exchange. Following the buyback, the company holds 164,745,581...
Business Operations and StrategyStock BuybackDividends
HICL targets higher returns with self-funded growth and new enhancer assets
Positive
Jul 2, 2026
HICL Infrastructure PLC has outlined the next phase of its strategy, targeting medium-term total returns of more than 10%, up from its historical 8.5% NAV total return since listing, as it continues shifting from a UK PPP-heavy portfolio to a dive...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Repurchases 1.5 Million Shares for Treasury
Positive
Jul 1, 2026
HICL Infrastructure PLC has repurchased 1,500,000 of its ordinary shares at a weighted average price of 132.6112 pence, with prices ranging between 132.00 and 133.00 pence. The shares were bought through Investec Bank plc and are initially being h...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Boosts Treasury Stock With 1.5 Million-Share Buyback
Positive
Jun 30, 2026
HICL Infrastructure PLC has repurchased 1,500,000 of its ordinary shares at a weighted average price of 132.97 pence per share, with the transaction executed via Investec Bank on 29 June 2026. Following this buyback, HICL holds 162,245,581 shares ...
Regulatory Filings and ComplianceShareholder Meetings
HICL Infrastructure Publishes 2026 AGM Circular and Sets Meeting Date
Neutral
Jun 19, 2026
HICL Infrastructure PLC has published and mailed to shareholders the circular containing the notice of its 2026 Annual General Meeting. The meeting is scheduled to take place on Wednesday 22 July 2026, giving investors formal sight of the agenda a...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
HICL Infrastructure Buys Back 1.5 Million Shares for Treasury
Neutral
Jun 16, 2026
HICL Infrastructure PLC has repurchased 1,500,000 of its ordinary shares at a weighted average price of 132.5952 pence per share via Investec Bank, with prices ranging between 131.60 pence and 133.00 pence. Following this transaction, the company ...
Business Operations and Strategy
HICL to Outline Growth Strategy at July 2026 Capital Markets Seminar
Positive
Jun 16, 2026
HICL Infrastructure PLC, a London-listed infrastructure investment company, focuses on essential, predominantly operational assets that deliver stable, inflation-linked cashflows and support public services. The group aims to provide shareholders ...
Stock BuybackRegulatory Filings and Compliance
HICL Infrastructure Buys Back 1 Million Shares for Treasury
Neutral
Jun 15, 2026
HICL Infrastructure PLC has repurchased 1,000,000 of its ordinary shares at a weighted average price of 133.6592 pence per share through Investec Bank, as part of its ongoing management of capital and share base. The company intends to hold these ...
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.