Henderson High Income Trust

LSE:HHI UK Asset Management
Market Cap
$3.97 Million
GBX32.64 Billion GBX
Market Cap Rank
#49609 Global
#1389 in UK
Share Price
GBX192.50
Change (1 day)
+0.79%
52-Week Range
GBX151.00 - GBX209.00
All Time High
GBX209.00
Categories
Companies in UK Asset Management Banking & Financial
About

Henderson High Income Trust plc is a close-ended equity mutual fund launched and managed by Henderson Investment Funds Limited. It is co-managed by Henderson Global Investors Limited. The fund invests in the public equity markets of the United Kingdom. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in dividend paying value stocks of comp… Read more

Henderson High Income Trust (HHI) - Net Assets

Latest net assets as of June 2025: GBX327.21 Million GBX

Based on the latest financial reports, Henderson High Income Trust (HHI) has net assets worth GBX327.21 Million GBX as of June 2025.

Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX394.23 Million) and total liabilities (GBX67.03 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.

Key Net Assets Metrics

Metric Value
Current Net Assets GBX327.21 Million
% of Total Assets 83.0%
Annual Growth Rate 4.77%
5-Year Change 43.45%
10-Year Change 53.83%
Growth Volatility 19.66

Henderson High Income Trust - Net Assets Trend (2000–2024)

This chart illustrates how Henderson High Income Trust's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for Henderson High Income Trust (2000–2024)

The table below shows the annual net assets of Henderson High Income Trust from 2000 to 2024.

Year Net Assets Change
2024-12-31 GBX303.21 Million +36.37%
2023-12-31 GBX222.34 Million +3.76%
2022-12-31 GBX214.28 Million -9.29%
2021-12-31 GBX236.23 Million +11.76%
2020-12-31 GBX211.37 Million -15.82%
2019-12-31 GBX251.09 Million +19.12%
2018-12-31 GBX210.79 Million -18.06%
2017-12-31 GBX257.24 Million +23.84%
2016-12-31 GBX207.72 Million +5.38%
2015-12-31 GBX197.11 Million +4.30%
2014-12-31 GBX188.99 Million +7.78%
2013-12-31 GBX175.35 Million +32.07%
2012-12-31 GBX132.76 Million +21.95%
2011-12-31 GBX108.87 Million -3.41%
2010-12-31 GBX112.71 Million +11.86%
2009-12-31 GBX100.76 Million +14.81%
2008-12-31 GBX87.76 Million -38.46%
2007-12-31 GBX142.60 Million +12.61%
2006-12-31 GBX126.64 Million +18.79%
2005-12-31 GBX106.61 Million +44.92%
2004-12-31 GBX73.56 Million +19.70%
2003-12-31 GBX61.45 Million -27.01%
2002-12-31 GBX84.19 Million -13.35%
2001-12-31 GBX97.16 Million -1.87%
2000-12-31 GBX99.01 Million --

Equity Component Analysis

This analysis shows how different components contribute to Henderson High Income Trust's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

  • Retained earnings have grown by 663.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component Amount Percentage
Retained Earnings GBX10.19 Million 3.36%
Common Stock GBX8.61 Million 2.84%
Other Comprehensive Income GBX85.78 Million 28.29%
Other Components GBX198.63 Million 65.51%
Total Equity GBX303.21 Million 100.00%

Henderson High Income Trust Competitors by Market Cap

The table below lists competitors of Henderson High Income Trust ranked by their market capitalization.

Company Market Cap
Engage XR Holdings PLC
LSE:EXR
 		$223.50
Blackrock North American Income Trust PLC
LSE:BRSA
 		$223.60
Oracle Commodity Holding Corp.
OTCGREY:ORLCF
 		$224.61
Cape Lambert Resources Limited
STU:HM5
 		$225.39
Henderson European Focus Trust Plc
LSE:HET
 		$223.40
Cirmaker Technology Corporation
PINK:CRKT
 		$222.82
Canna Consumer Goods Inc
PINK:CBMJ
 		$222.48
Mendocino Brewing Company Inc
PINK:MENB
 		$222.28

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Henderson High Income Trust's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2023 to 2024, total equity changed from 222,342,000 to 303,207,000, a change of 80,865,000 (36.4%).
  • Net income of 25,977,000 contributed positively to equity growth.
  • Dividend payments of 17,031,000 reduced retained earnings.
  • New share issuances of 32,586,000 increased equity.
  • Other comprehensive income increased equity by 59,483,000.
  • Other factors decreased equity by 20,150,000.

Equity Change Factors (2023 to 2024)

Factor Impact Contribution
Net Income GBX25.98 Million +8.57%
Dividends Paid GBX17.03 Million -5.62%
Share Issuances GBX32.59 Million +10.75%
Other Comprehensive Income GBX59.48 Million +19.62%
Other Changes GBX-20.15 Million -6.65%
Total Change GBX- 36.37%

Book Value vs Market Value Analysis

This analysis compares Henderson High Income Trust's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

  • Current price-to-book ratio: 108.19x
  • The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
  • The price-to-book ratio has decreased from 124.26x to 108.19x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2002-12-31 GBX1.55 GBX192.50 x
2003-12-31 GBX1.10 GBX192.50 x
2004-12-31 GBX1.31 GBX192.50 x
2005-12-31 GBX1.80 GBX192.50 x
2006-12-31 GBX1.82 GBX192.50 x
2007-12-31 GBX1.77 GBX192.50 x
2008-12-31 GBX1.03 GBX192.50 x
2009-12-31 GBX1.18 GBX192.50 x
2010-12-31 GBX1.30 GBX192.50 x
2011-12-31 GBX1.22 GBX192.50 x
2012-12-31 GBX1.44 GBX192.50 x
2013-12-31 GBX1.76 GBX192.50 x
2014-12-31 GBX1.78 GBX192.50 x
2015-12-31 GBX1.80 GBX192.50 x
2016-12-31 GBX1.86 GBX192.50 x
2017-12-31 GBX2.14 GBX192.50 x
2018-12-31 GBX1.64 GBX192.50 x
2019-12-31 GBX1.95 GBX192.50 x
2020-12-31 GBX1.64 GBX192.50 x
2021-12-31 GBX1.84 GBX192.50 x
2022-12-31 GBX1.66 GBX192.50 x
2023-12-31 GBX1.71 GBX192.50 x
2024-12-31 GBX1.78 GBX192.50 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Henderson High Income Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

  • Current Return on Equity (ROE): 8.57%
  • The company has moderate efficiency in generating returns from equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 106.33%
  • • Asset Turnover: 0.07x
  • • Equity Multiplier: 1.23x
  • Recent ROE (8.57%) is above the historical average (6.89%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2003 22.50% 74.52% 0.15x 1.98x GBX7.68 Million
2004 20.23% 73.10% 0.15x 1.83x GBX7.52 Million
2005 19.10% 78.20% 0.18x 1.36x GBX9.70 Million
2006 18.70% 84.67% 0.17x 1.28x GBX11.02 Million
2007 -4.60% 0.00% -0.02x 1.24x GBX-20.82 Million
2008 -54.41% 0.00% -0.40x 1.28x GBX-56.53 Million
2009 19.79% 94.10% 0.17x 1.25x GBX9.86 Million
2010 13.24% 90.08% 0.12x 1.27x GBX3.65 Million
2011 2.41% 46.61% 0.04x 1.27x GBX-8.26 Million
2012 16.70% 98.55% 0.14x 1.22x GBX8.89 Million
2013 22.89% 99.14% 0.19x 1.24x GBX22.60 Million
2014 6.84% 97.13% 0.06x 1.24x GBX-5.97 Million
2015 7.01% 97.08% 0.06x 1.24x GBX-5.90 Million
2016 9.22% 97.63% 0.08x 1.23x GBX-1.63 Million
2017 11.03% 98.39% 0.09x 1.22x GBX2.64 Million
2018 -16.21% 0.00% -0.12x 1.29x GBX-55.25 Million
2019 21.03% 99.12% 0.17x 1.23x GBX27.70 Million
2020 -12.77% 0.00% -0.10x 1.24x GBX-48.14 Million
2021 15.91% 98.50% 0.13x 1.25x GBX13.97 Million
2022 -5.14% 0.00% -0.04x 1.24x GBX-32.45 Million
2023 9.63% 82.33% 0.09x 1.23x GBX-814.20K
2024 8.57% 106.33% 0.07x 1.23x GBX-4.34 Million

Industry Comparison

This section compares Henderson High Income Trust's net assets metrics with peer companies in the Asset Management industry.

Industry Context

  • Industry: Asset Management
  • Average net assets among peers: $395,694,700
  • Average return on equity (ROE) among peers: -81.73%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Henderson High Income Trust (HHI) GBX327.21 Million 22.50% 0.20x $223.42
3I Infrastructure PLC (3IN) $1.09 Billion 8.57% 0.18x $396.99K
450 PLC (450) $1.30 Million -791.13% 5.03x $1.71K
abrdn Asian Income Fund Limited (AAIF) $431.48 Million 11.10% 0.09x $315.37
Abrdn Asia Focus PLC (AAS) $464.40 Million -2.37% 0.15x $434.78
Albion Technology & General VCT PLC (AATG) $34.46 Million 4.41% 0.01x $78.71
Aberdeen Diversified Income and Growth Trust PLC (ADIG) $492.42 Million 0.00% 0.32x $16.61
Aquila Energy Efficiency Trust PLC (AEET) $97.38 Million -0.64% 0.00x $2.38K
Aquila European Renewables Income PLC (AERI) $320.23 Million -9.29% 0.00x $2.45K
Artemis UK Future Leaders plc (AFL) $84.35 Million -40.52% 0.02x $401.26
AVI Global Trust PLC (AGT) $938.94 Million 2.59% 0.12x $2.83 Million