Herald Investment Trust (HRI) - Net Assets

Latest as of December 2025: GBX1.29 Billion GBX ≈ $157.25K USD

Based on the latest financial reports, Herald Investment Trust (HRI) has net assets worth GBX1.29 Billion GBX (≈ $157.25K USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX1.29 Billion ≈ $157.43K USD) and total liabilities (GBX1.51 Million ≈ $184.33 USD). 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. Also explore HRI total asset value for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	GBX1.29 Billion
% of Total Assets	99.88%
Annual Growth Rate	5.07%
5-Year Change	-26.6%
10-Year Change	63.3%
Growth Volatility	26.98

Herald Investment Trust - Net Assets Trend (2000–2025)

This chart illustrates how Herald Investment Trust's net assets have evolved over time, based on quarterly financial data. Check HRI goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.

Annual Net Assets for Herald Investment Trust (2000–2025)

The table below shows the annual net assets of Herald Investment Trust from 2000 to 2025. For live valuation and market cap data, see Herald Investment Trust (HRI) market capitalisation.

Year	Net Assets	Change
2025-12-31	GBX1.29 Billion ≈ $157.25K	+3.18%
2024-12-31	GBX1.25 Billion ≈ $152.41K	+0.55%
2023-12-31	GBX1.25 Billion ≈ $151.57K	-4.54%
2022-12-31	GBX1.31 Billion ≈ $158.79K	-25.89%
2021-12-31	GBX1.76 Billion ≈ $214.25K	+17.13%
2020-12-31	GBX1.50 Billion ≈ $182.92K	+33.89%
2019-12-31	GBX1.12 Billion ≈ $136.62K	+24.60%
2018-12-31	GBX901.15 Million ≈ $109.64K	-6.87%
2017-12-31	GBX967.62 Million ≈ $117.73K	+22.26%
2016-12-31	GBX791.41 Million ≈ $96.29K	+17.92%
2015-12-31	GBX671.14 Million ≈ $81.66K	+6.71%
2014-12-31	GBX628.92 Million ≈ $76.52K	+0.85%
2013-12-31	GBX623.60 Million ≈ $75.87K	+24.24%
2012-12-31	GBX501.95 Million ≈ $61.07K	+11.72%
2011-12-31	GBX449.30 Million ≈ $54.67K	-5.32%
2010-12-31	GBX474.56 Million ≈ $57.74K	+39.21%
2009-12-31	GBX340.90 Million ≈ $41.48K	+61.78%
2008-12-31	GBX210.71 Million ≈ $25.64K	-38.66%
2007-12-31	GBX343.50 Million ≈ $41.79K	-9.90%
2006-12-31	GBX381.23 Million ≈ $46.38K	+6.40%
2005-12-31	GBX358.29 Million ≈ $43.59K	+7.85%
2004-12-31	GBX332.21 Million ≈ $40.42K	+3.53%
2003-12-31	GBX320.88 Million ≈ $39.04K	+80.69%
2002-12-31	GBX177.59 Million ≈ $21.61K	-34.88%
2001-12-31	GBX272.73 Million ≈ $33.18K	-27.34%
2000-12-31	GBX375.37 Million ≈ $45.67K	--

Equity Component Analysis

This analysis shows how different components contribute to Herald Investment 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 decreased by 157.3% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Common Stock	GBX11.96 Million	0.93%
Other Comprehensive Income	GBX1.21 Billion	93.44%
Other Components	GBX73.74 Million	5.71%
Total Equity	GBX1.29 Billion	100.00%

Herald Investment Trust Competitors by Market Cap

The table below lists competitors of Herald Investment Trust ranked by their market capitalization.

Company	Market Cap
Wicaksana Overseas International JK:WICO	$17.25 Million
Pixelplus. Co. Ltd KQ:087600	$17.27 Million
Rathbone Brothers PLC LSE:RAT	$17.28 Million
Han Kook Steel KO:025890	$17.30 Million
Ba Ria Thermal Power JSC VN:BTP	$17.24 Million
Trimegah Karya Pratama Tbk PT JK:UVCR	$17.23 Million
CCID Consulting Company Limited F:CCX	$17.23 Million
Primega Group Holdings Limited Ordinary Shares NASDAQ:PGHL	$17.22 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 1,252,602,000 to 1,292,413,000, a change of 39,811,000 (3.2%).
Net income of 98,470,000 contributed positively to equity growth.
Share repurchases of 58,659,000 reduced equity.
Other comprehensive income increased equity by 438,407,000.
Other factors decreased equity by 438,407,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	GBX98.47 Million	+7.62%
Share Repurchases	GBX58.66 Million	-4.54%
Other Comprehensive Income	GBX438.41 Million	+33.92%
Other Changes	GBX-438.41 Million	-33.92%
Total Change	GBX-	3.18%

Book Value vs Market Value Analysis

This analysis compares Herald Investment 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: 112.50x
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 1407.88x to 112.50x 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	GBX2.10	GBX2960.00	x
2003-12-31	GBX3.70	GBX2960.00	x
2004-12-31	GBX3.79	GBX2960.00	x
2005-12-31	GBX4.09	GBX2960.00	x
2006-12-31	GBX4.35	GBX2960.00	x
2007-12-31	GBX3.94	GBX2960.00	x
2008-12-31	GBX2.48	GBX2960.00	x
2009-12-31	GBX4.14	GBX2960.00	x
2010-12-31	GBX5.90	GBX2960.00	x
2011-12-31	GBX5.63	GBX2960.00	x
2012-12-31	GBX6.32	GBX2960.00	x
2013-12-31	GBX7.97	GBX2960.00	x
2014-12-31	GBX8.10	GBX2960.00	x
2015-12-31	GBX8.70	GBX2960.00	x
2016-12-31	GBX10.58	GBX2960.00	x
2017-12-31	GBX13.54	GBX2960.00	x
2018-12-31	GBX12.97	GBX2960.00	x
2019-12-31	GBX16.49	GBX2960.00	x
2020-12-31	GBX22.56	GBX2960.00	x
2021-12-31	GBX27.08	GBX2960.00	x
2022-12-31	GBX19.58	GBX2960.00	x
2023-12-31	GBX21.00	GBX2960.00	x
2024-12-31	GBX23.29	GBX2960.00	x
2025-12-31	GBX26.31	GBX2960.00	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Herald Investment 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): 7.62%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 86.00%
• Asset Turnover: 0.09x
• Equity Multiplier: 1.00x
Recent ROE (7.62%) is below the historical average (8.25%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2003	43.70%	97.49%	0.41x	1.09x	GBX108.14 Million
2004	5.04%	78.90%	0.06x	1.08x	GBX-16.49 Million
2005	7.35%	84.56%	0.09x	1.00x	GBX-9.48 Million
2006	6.15%	83.70%	0.07x	1.05x	GBX-14.66 Million
2007	-9.99%	0.00%	-0.08x	1.00x	GBX-68.67 Million
2008	-57.80%	0.00%	-0.43x	1.31x	GBX-142.87 Million
2009	41.17%	96.06%	0.36x	1.18x	GBX106.26 Million
2010	29.15%	95.03%	0.27x	1.13x	GBX90.89 Million
2011	-5.37%	0.00%	-0.03x	1.16x	GBX-69.06 Million
2012	11.03%	99.17%	0.10x	1.14x	GBX5.19 Million
2013	21.09%	99.58%	0.20x	1.06x	GBX69.19 Million
2014	1.20%	92.12%	0.01x	1.06x	GBX-55.36 Million
2015	7.63%	98.67%	0.07x	1.06x	GBX-15.93 Million
2016	18.17%	99.45%	0.18x	1.03x	GBX64.67 Million
2017	20.98%	99.58%	0.21x	1.00x	GBX106.15 Million
2018	-5.36%	0.00%	-0.05x	1.00x	GBX-138.45 Million
2019	21.56%	99.56%	0.22x	1.00x	GBX129.75 Million
2020	26.96%	99.70%	0.27x	1.00x	GBX255.03 Million
2021	15.92%	99.44%	0.16x	1.00x	GBX104.31 Million
2022	-31.07%	0.00%	-0.31x	1.00x	GBX-536.03 Million
2023	3.86%	75.97%	0.05x	1.00x	GBX-76.45 Million
2024	10.72%	97.65%	0.11x	1.00x	GBX9.04 Million
2025	7.62%	86.00%	0.09x	1.00x	GBX-30.77 Million

Industry Comparison

This section compares Herald Investment Trust's net assets metrics with peer companies in the Asset Management industry.

Industry Context

Industry: Asset Management
Average net assets among peers: $755,344,100
Average return on equity (ROE) among peers: 9.04%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Herald Investment Trust (HRI)	GBX1.29 Billion	43.70%	0.00x	$17.24 Million
3I Infrastructure PLC (3IN)	$1.71 Billion	28.04%	0.08x	$43.15 Million
Albion Enterprise VCT PLC (AAEV)	$18.85 Million	0.00%	0.01x	$3.29 Million
abrdn Asian Income Fund Limited (AAIF)	$384.87 Million	7.14%	0.08x	$5.31 Million
Abrdn Asia Focus PLC (AAS)	$260.99 Million	9.18%	0.13x	$7.20 Million
Albion Technology & General VCT PLC (AATG)	$11.90 Million	2.76%	0.01x	$3.15 Million
Abrdn PLC (ABDN)	$4.24 Billion	10.19%	35.37x	$53.35 Million
Aberdeen Diversified Income and Growth Trust PLC (ADIG)	$418.35 Million	13.37%	0.26x	$450.86K
Aquila Energy Efficiency Trust PLC (AEET)	$94.28 Million	0.32%	0.01x	$237.81K
Aquila European Renewables Income PLC (AERI)	$316.90 Million	-0.37%	0.13x	$62.41 Million
Artemis UK Future Leaders plc (AFL)	$99.10 Million	19.77%	0.03x	$438.80

About Herald Investment Trust

LSE:HRI UK Asset Management

Market Cap

$17.24 Million

GBX141.66 Billion GBX

Market Cap Rank

#25536 Global

#276 in UK

Share Price

GBX2960.00

Change (1 day)

+0.34%

52-Week Range

GBX2305.00 - GBX3260.00

All Time High

GBX3260.00