The Income & Growth VCT
The Income & Growth VCT plc is a venture capital trust. It invests in companies at various stages of development. The fund invests in unquoted and new and secondary issues of quoted companies, which already have a trading facility on the Alternative Investment Market or on OFEX. It primarily makes investments in support services, software and computer services and general retailers. It prefers to… Read more
The Income & Growth VCT (IGV) - Net Assets
Latest net assets as of September 2024: GBX188.70 Million GBX
Based on the latest financial reports, The Income & Growth VCT (IGV) has net assets worth GBX188.70 Million GBX as of September 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX189.11 Million) and total liabilities (GBX413.19K). 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 | GBX188.70 Million |
| % of Total Assets | 99.78% |
| Annual Growth Rate | 7.44% |
| 5-Year Change | 80.68% |
| 10-Year Change | 203.73% |
| Growth Volatility | 22.98 |
The Income & Growth VCT - Net Assets Trend (2001–2025)
This chart illustrates how The Income & Growth VCT's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for The Income & Growth VCT (2001–2025)
The table below shows the annual net assets of The Income & Growth VCT from 2001 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | GBX215.16 Million | +14.03% |
| 2024-09-30 | GBX188.70 Million | +53.69% |
| 2023-09-30 | GBX122.78 Million | +13.25% |
| 2022-09-30 | GBX108.42 Million | -8.96% |
| 2021-09-30 | GBX119.09 Million | +43.25% |
| 2020-09-30 | GBX83.13 Million | +1.72% |
| 2019-09-30 | GBX81.73 Million | -1.04% |
| 2018-09-30 | GBX82.58 Million | +28.34% |
| 2017-09-30 | GBX64.35 Million | -9.16% |
| 2016-09-30 | GBX70.84 Million | -5.80% |
| 2015-09-30 | GBX75.20 Million | +8.51% |
| 2014-09-30 | GBX69.31 Million | +14.62% |
| 2013-09-30 | GBX60.47 Million | +19.62% |
| 2012-09-30 | GBX50.55 Million | +2.85% |
| 2011-09-30 | GBX49.15 Million | +34.28% |
| 2010-09-30 | GBX36.60 Million | +47.11% |
| 2009-09-30 | GBX24.88 Million | -39.00% |
| 2008-09-30 | GBX40.79 Million | +10.91% |
| 2007-09-30 | GBX36.78 Million | -16.70% |
| 2006-09-30 | GBX44.15 Million | -10.27% |
| 2005-09-30 | GBX49.20 Million | +48.96% |
| 2004-09-30 | GBX33.03 Million | +9.04% |
| 2003-09-30 | GBX30.29 Million | -5.88% |
| 2002-09-30 | GBX32.19 Million | -16.35% |
| 2001-09-30 | GBX38.48 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to The Income & Growth VCT'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 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | GBX215.16 Million | 100.00% |
| Total Equity | GBX215.16 Million | 100.00% |
The Income & Growth VCT Competitors by Market Cap
The table below lists competitors of The Income & Growth VCT ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
daVictus plc
LSE:DVT
|
$69.03 |
|
Myrexis Inc Cmn Stk
PINK:MYRX
|
$69.51 |
|
Atlantic Energy Solutions Inc
PINK:AESO
|
$69.73 |
|
WEST WITS MIN
BE:4W3
|
$69.83 |
|
Us1 Critical Minerals Limited
AU:USC
|
$68.27 |
|
Armadale Capital Plc
LSE:ACP
|
$68.15 |
|
SOLA
JK:SOLA
|
$67.29 |
|
EMPIRE RES
BE:E3R
|
$67.13 |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in The Income & Growth VCT's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 188,695,667 to 215,163,229, a change of 26,467,562 (14.0%).
- Net income of 3,175,284 contributed positively to equity growth.
- Dividend payments of 13,517,158 reduced retained earnings.
- Share repurchases of 6,581,221 reduced equity.
- New share issuances of 45,002,576 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX3.18 Million | +1.48% |
| Dividends Paid | GBX13.52 Million | -6.28% |
| Share Repurchases | GBX6.58 Million | -3.06% |
| Share Issuances | GBX45.00 Million | +20.92% |
| Other Changes | GBX-1.61 Million | -0.75% |
| Total Change | GBX- | 14.03% |
Book Value vs Market Value Analysis
This analysis compares The Income & Growth VCT'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: 87.60x
- 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 increased from 49.16x to 87.60x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2001-09-30 | GBX1.19 | GBX58.50 | x |
| 2002-09-30 | GBX0.77 | GBX58.50 | x |
| 2003-09-30 | GBX0.73 | GBX58.50 | x |
| 2004-09-30 | GBX0.80 | GBX58.50 | x |
| 2005-09-30 | GBX1.21 | GBX58.50 | x |
| 2006-09-30 | GBX1.11 | GBX58.50 | x |
| 2007-09-30 | GBX0.95 | GBX58.50 | x |
| 2008-09-30 | GBX0.90 | GBX58.50 | x |
| 2009-09-30 | GBX0.71 | GBX58.50 | x |
| 2010-09-30 | GBX1.47 | GBX58.50 | x |
| 2011-09-30 | GBX1.25 | GBX58.50 | x |
| 2012-09-30 | GBX1.16 | GBX58.50 | x |
| 2013-09-30 | GBX1.21 | GBX58.50 | x |
| 2014-09-30 | GBX1.22 | GBX58.50 | x |
| 2015-09-30 | GBX1.12 | GBX58.50 | x |
| 2016-09-30 | GBX0.99 | GBX58.50 | x |
| 2017-09-30 | GBX0.89 | GBX58.50 | x |
| 2018-09-30 | GBX0.83 | GBX58.50 | x |
| 2019-09-30 | GBX0.78 | GBX58.50 | x |
| 2020-09-30 | GBX0.74 | GBX58.50 | x |
| 2021-09-30 | GBX1.00 | GBX58.50 | x |
| 2022-09-30 | GBX0.87 | GBX58.50 | x |
| 2023-09-30 | GBX0.82 | GBX58.50 | x |
| 2024-09-30 | GBX1.07 | GBX58.50 | x |
| 2025-09-30 | GBX0.67 | GBX58.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently The Income & Growth VCT 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): 1.48%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 82.31%
- • Asset Turnover: 0.02x
- • Equity Multiplier: 1.01x
- Recent ROE (1.48%) is below the historical average (4.89%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | 1.41% | 43.71% | 0.03x | 1.03x | GBX-3.31 Million |
| 2002 | 2.95% | 44.39% | 0.06x | 1.04x | GBX-2.27 Million |
| 2003 | 1.88% | 48.14% | 0.04x | 1.03x | GBX-2.46 Million |
| 2004 | 1.25% | 55.13% | 0.02x | 1.02x | GBX-2.89 Million |
| 2005 | 0.66% | 14.53% | 0.05x | 1.00x | GBX-4.59 Million |
| 2006 | 0.78% | 12.61% | 0.06x | 1.00x | GBX-4.07 Million |
| 2007 | 0.65% | 15.99% | 0.04x | 1.04x | GBX-3.44 Million |
| 2008 | 1.76% | 20.12% | 0.09x | 1.01x | GBX-3.36 Million |
| 2009 | 0.74% | 19.65% | 0.04x | 1.01x | GBX-2.31 Million |
| 2010 | -0.14% | -6.98% | 0.02x | 1.01x | GBX-3.71 Million |
| 2011 | 1.76% | 52.21% | 0.03x | 1.03x | GBX-4.05 Million |
| 2012 | 11.44% | 288.62% | 0.04x | 1.07x | GBX728.80K |
| 2013 | 13.58% | 81.96% | 0.16x | 1.01x | GBX2.16 Million |
| 2014 | 9.16% | 65.79% | 0.14x | 1.03x | GBX-583.64K |
| 2015 | 9.13% | 93.58% | 0.10x | 1.02x | GBX-656.23K |
| 2016 | 4.30% | 88.60% | 0.05x | 1.02x | GBX-4.04 Million |
| 2017 | 5.88% | 89.94% | 0.06x | 1.01x | GBX-2.65 Million |
| 2018 | 3.16% | 85.12% | 0.04x | 1.00x | GBX-5.65 Million |
| 2019 | 7.16% | 93.20% | 0.08x | 1.00x | GBX-2.32 Million |
| 2020 | 13.41% | 95.47% | 0.14x | 1.00x | GBX2.83 Million |
| 2021 | 35.15% | 98.95% | 0.35x | 1.01x | GBX29.95 Million |
| 2022 | -10.33% | 0.00% | -0.10x | 1.00x | GBX-22.05 Million |
| 2023 | 4.47% | 90.02% | 0.05x | 1.00x | GBX-6.79 Million |
| 2024 | 0.53% | 22.47% | 0.02x | 1.00x | GBX-17.87 Million |
| 2025 | 1.48% | 82.31% | 0.02x | 1.01x | GBX-18.34 Million |
Industry Comparison
This section compares The Income & Growth VCT's net assets metrics with peer companies in the same industry.
Industry Context
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| The Income & Growth VCT (IGV) | GBX188.70 Million | 1.41% | 0.00x | $68.65 |
| Nyfosa AB (0A0K) | $2.92 Billion | 39.50% | 2.88x | $973.31 Million |
| High Templar Tech Limited (0A2T) | $12.52 Billion | 4.70% | 0.13x | $255.82 Million |
| Strategy Inc (0A7O) | $51.04 Billion | -7.54% | 0.21x | $40.17 Billion |
| NACON SASU (0A9N) | $67.54 Million | 15.85% | 1.20x | $7.64 Million |
| Antin Infrastructure Partners (0AA5) | $23.79 Million | 108.98% | 1.09x | $573.10 Million |
| Truecaller AB Series B (0AA7) | $1.41 Billion | 18.30% | 0.20x | $281.60 Million |
| Brockhaus Technologies AG (0AAW) | $254.92 Million | -6.23% | 1.68x | $74.40 Million |
| Hyloris Pharmaceuticals S.A. (0AB6) | $48.06 Million | -24.09% | 0.32x | $71.96 Million |
| Kalray S.A. (0ABT) | $28.43 Million | -41.56% | 0.67x | $33.84 Million |
| Webuild S.p.A. (0BJP) | $1.43 Billion | 10.29% | 7.14x | $1.13 Billion |