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Pembroke VCT
(LSE:PEMB)
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Rating:60Neutral
Price Target:
98.00 p
▲(8.29% Upside)
Action:Reiterated
Date:09/29/26
The score is primarily driven by mixed financial performance: a very strong, low-leverage balance sheet is offset by consistently negative operating/free cash flow and historically volatile profitability. Valuation is supported by a high dividend yield but tempered by a higher P/E, while technical signals are broadly neutral with slight positive bias.
Positive Factors
Debt-free balance sheet
Debt-free financing and a growing equity base give the trust substantial balance-sheet resilience. This reduces solvency pressure and preserves capacity to support portfolio commitments or absorb periods when investment returns are uneven over the next several quarters.
Negative Factors
Persistent negative cash flow
Operating and free cash flow have remained negative in every year shown, including FY2025 and FY2026 when net income was positive. Persistent cash outflows weaken earnings quality and may require reliance on the trust’s capital base, limiting flexibility for new investments or distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
Debt-free financing and a growing equity base give the trust substantial balance-sheet resilience. This reduces solvency pressure and preserves capacity to support portfolio commitments or absorb periods when investment returns are uneven over the next several quarters.
Read all positive factors
Pembroke VCT (PEMB) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£273.59M
Dividend Yield6.95%
Average Volume (3M)0.00
Price to Earnings (P/E)25.3
Beta (1Y)-0.04
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. Volume0
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)
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GB:PU13
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0.86%
Pembroke VCT Corporate Events
Business Operations and StrategyExecutive/Board ChangesStock BuybackFinancial DisclosuresShareholder Meetings
Pembroke VCT shareholders back all AGM resolutions, reinforcing capital flexibility
Positive
Sep 16, 2026
Pembroke VCT plc reported that all resolutions at its Annual General Meeting on 16 September 2026 were passed, including the adoption of accounts for the year to 31 March 2026 and approval of the directors’ remuneration report. Shareholders ...
Delistings and Listing ChangesPrivate Placements and Financing
Pembroke VCT launches up to £60m B share offer via new prospectus
Positive
Sep 14, 2026
Pembroke VCT plc has published a new prospectus for an offer of up to £40 million of B Ordinary Shares, with an additional over-allotment facility of up to £20 million. The new shares will be listed on the FCA’s Official List and a...
Regulatory Filings and Compliance
Pembroke VCT Confirms Total Voting Rights at 292.6 Million Shares
Neutral
Aug 28, 2026
Pembroke VCT plc has confirmed that, as of 28 August 2026, its share capital comprises 292,605,312 B Ordinary shares, all of which carry voting rights, and that it holds no shares in treasury. This disclosure sets the total number of voting rights...
Regulatory Filings and Compliance
Pembroke VCT Confirms Total Voting Rights at 292.6 Million Shares
Neutral
Aug 3, 2026
Pembroke VCT plc has reported that, as of 31 July 2026, its share capital comprises 292,605,312 B Ordinary shares, all of which carry voting rights, and the company holds no shares in treasury. This disclosure sets the total number of voting right...
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...
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.