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Pembroke VCT
(LSE:PEMB)
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Rating:52Neutral
Price Target:
93.00 p
▲(2.76% Upside)
Action:Reiterated
Date:06/29/26
The score is held back primarily by persistently negative operating and free cash flow despite the strong, low-leverage balance sheet and improved profitability. Technicals add caution due to an extremely overbought RSI and limited trend strength, while valuation is also a drag due to a high P/E, partially offset by a high dividend yield.
Positive Factors
Very strong, low‑leverage balance sheet
Near‑zero debt and a materially larger equity base provide durable financial flexibility: the VCT can support follow‑on funding, ride out funding market disruptions, and avoid solvency pressure, making capital backing a long‑term competitive advantage.
Negative Factors
Persistent negative operating and free cash flow
Consistent negative operating and free cash flow, even in profitable years, indicates earnings quality and liquidity weakness: the VCT depends on balance‑sheet resources or realizations to fund operations and distributions, reducing self‑funding resilience.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong, low‑leverage balance sheet
Near‑zero debt and a materially larger equity base provide durable financial flexibility: the VCT can support follow‑on funding, ride out funding market disruptions, and avoid solvency pressure, making capital backing a long‑term competitive advantage.
Read all positive factors
Pembroke VCT (PEMB) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£273.59M
Dividend Yield6.95%
Average Volume (3M)232.32K
Price to Earnings (P/E)25.3
Beta (1Y)-0.02
Revenue Growth168.58%
EPS Growth1508.70%
CountryUK
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)N/A
Shares Outstanding292,605,320
10 Day Avg. Volume0
30 Day Avg. Volume232,317
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.86
Price to Sales (P/S)15.17
P/FCF Ratio-54.50
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
Pembroke VCT Business Overview & Revenue Model
Company Description
Pembroke VCT plc is a venture capital trust dedicated to providing funding across all stages of a company's growth, from early-stage startups to more developed and established enterprises. Its investment focus is primarily on businesses operating ...
How the Company Makes Money
Pembroke VCT makes money primarily through investment returns generated by its portfolio of qualifying investments. The main economic driver is capital appreciation: if the value of an investee company increases and Pembroke exits the investment (...
Pembroke VCT Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
86
Very Positive
Cash Flow
34
Negative
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 16.16M | 1.84M | -9.64M | -8.52M | 25.67M |
| Gross Profit | 10.77M | 1.84M | -9.60M | -12.67M | 29.96M |
| EBITDA | 9.85M | 443.00K | 0.00 | 0.00 | 24.68M |
| Net Income | 9.85M | 443.00K | -10.47M | -9.26M | 24.11M |
Balance Sheet | |||||
| Total Assets | 291.70M | 261.66M | 228.86M | 217.75M | 202.64M |
| Cash, Cash Equivalents and Short-Term Investments | 56.63M | 36.79M | 46.25M | 32.49M | 39.61M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 625.00K |
| Total Liabilities | 5.47M | 9.99M | 4.78M | 692.00K | 2.05M |
| Stockholders Equity | 286.22M | 251.67M | 224.07M | 216.08M | 200.59M |
Cash Flow | |||||
| Free Cash Flow | -4.50M | -2.05M | -4.59M | -4.23M | -3.71M |
| Operating Cash Flow | -4.50M | -2.05M | -4.59M | -4.23M | -3.71M |
| Investing Cash Flow | -25.72M | -9.72M | -11.49M | -20.51M | -12.91M |
| Financing Cash Flow | 20.05M | 32.31M | 29.84M | 17.62M | 43.81M |
Pembroke VCT Peers Comparison
UnderperformOutperform
Sector (68)
GB:PEMB
Pembroke VCT
93.50
3.00
3.31%
GB:GV1O
Gresham House Renewable Energy VCT 1 PLC
5.50
-3.11
-36.11%
GB:GV1A
Gresham House Renewable Energy VCT 1 Plc Class A
5.05
0.00
0.00%
GB:PUAL
Puma Alpha VCT Plc
85.50
-12.00
-12.31%
GB:BSFA
BSF Enterprise PLC
1.10
-0.95
-46.34%
GB:PU13
Puma VCT 13 PLC
117.50
1.00
0.86%
Pembroke VCT Corporate Events
Delistings and Listing ChangesPrivate Placements and FinancingRegulatory Filings and Compliance
Pembroke VCT Updates Share Capital and Voting Rights After New B Share Admission
Positive
Jun 30, 2026
Pembroke VCT plc has admitted 419,645 new B Ordinary Shares to trading on the London Stock Exchange’s Main Market, as part of its ongoing £40 million subscription offer, taking the total number of B Ordinary Shares in issue to 292,605,3...
Business Operations and StrategyPrivate Placements and Financing
Pembroke VCT Plans New B Share Offer Across 2026/2028 Tax Years
Positive
Jun 26, 2026
Pembroke VCT plc has announced its intention to launch a new offer for subscription of B Ordinary Shares, targeting investors in the 2026/2027 and 2027/2028 tax years. A full prospectus with detailed terms of the share offer is expected to be publ...
Stock BuybackDividendsFinancial Disclosures
Pembroke VCT Lifts Dividend and Extends Buybacks as Fund Grows to £286m
Positive
Jun 26, 2026
Pembroke VCT reported its annual results for the year to 31 March 2026, highlighting a net asset value total return per share of 143.1 pence, an increase of 3.4 pence over the year, and a net asset value per share of 97.6 pence. The fund size reac...
Regulatory Filings and Compliance
Pembroke VCT Confirms Total Voting Rights at 292.6 Million Shares
Neutral
May 29, 2026
Pembroke VCT plc has confirmed that, as of 29 May 2026, its share capital comprises 292,605,312 B Ordinary shares carrying voting rights. The company also reports that it does not hold any shares in treasury, meaning all issued B Ordinary shares a...
Private Placements and Financing
Pembroke VCT Expands B Share Capital With New Allotment Under Ongoing Offer
Neutral
May 29, 2026
Pembroke VCT has allotted 419,645 new B Ordinary Shares on 29 May 2026 under its ongoing offer for up to £40 million, with a further £20 million over-allotment facility, priced by reference to an unaudited 31 December 2025 net asset valu...
Delistings and Listing ChangesPrivate Placements and FinancingRegulatory Filings and Compliance
Pembroke VCT Expands Capital Base with New B Share Admission
Positive
May 28, 2026
Pembroke VCT plc has admitted 351,176 additional B Ordinary Shares to trading on the London Stock Exchange’s Main Market, as part of its ongoing offer for subscription of up to £40 million. The new shares, which are fully fungible with ...
Business Operations and StrategyPrivate Placements and Financing
Pembroke VCT Sets Final Dates for B Share Subscription Offer
Neutral
May 11, 2026
Pembroke VCT plc announced that its Offer for Subscription of up to £40 million of B Ordinary Shares, with an additional over-allotment facility of up to £20 million, will close to further applications at 9:00 a.m. on Wednesday 27 May 20...
Delistings and Listing ChangesRegulatory Filings and Compliance
Pembroke VCT Updates Share Admissions and Total Voting Rights
Neutral
Apr 30, 2026
Pembroke VCT plc has admitted an additional 15,126,378 B Ordinary Shares to trading on the London Stock Exchange’s Main Market following recent allotments under its offer for subscription of up to £40 million. The new shares, issued at ...
Delistings and Listing ChangesPrivate Placements and FinancingRegulatory Filings and Compliance
Pembroke VCT Expands B Share Capital as Offer Nears £40m Target
Positive
Apr 30, 2026
Pembroke VCT plc has allotted 351,176 new B Ordinary Shares under its ongoing offer for subscription, priced close to the latest unaudited net asset value of 100.2p per share, with issue prices ranging from 99.60p to 99.70p. This allotment increas...
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.