Smithson Investment Trust PLC
Smithson Investment Trust plc is a closed ended equity fund launched and managed by Fundsmith LLP. The fund invests public equity markets of United Kingdom. It invest in shares issued by small and mid sized companies with a market capitalization between £500 million to £15 billion. Smithson Investment Trust plc was formed on 19 October 2018 is domiciled in the United Kingdom.
Smithson Investment Trust PLC (SSON) - Net Assets
Latest net assets as of December 2025: GBX1.72 Billion GBX
Based on the latest financial reports, Smithson Investment Trust PLC (SSON) has net assets worth GBX1.72 Billion GBX as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (GBX1.72 Billion) and total liabilities (GBX1.63 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 | GBX1.72 Billion |
| % of Total Assets | 99.91% |
| Annual Growth Rate | 11.75% |
| 5-Year Change | -48.9% |
| 10-Year Change | N/A |
| Growth Volatility | 40.69 |
Smithson Investment Trust PLC - Net Assets Trend (2018–2025)
This chart illustrates how Smithson Investment Trust PLC's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Smithson Investment Trust PLC (2018–2025)
The table below shows the annual net assets of Smithson Investment Trust PLC from 2018 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | GBX1.72 Billion | -19.22% |
| 2024-12-31 | GBX2.13 Billion | -16.54% |
| 2023-12-31 | GBX2.55 Billion | +5.54% |
| 2022-12-31 | GBX2.42 Billion | -28.19% |
| 2021-12-31 | GBX3.37 Billion | +44.39% |
| 2020-12-31 | GBX2.33 Billion | +62.24% |
| 2019-12-31 | GBX1.44 Billion | +81.82% |
| 2018-12-31 | GBX790.53 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Smithson Investment Trust PLC'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 5322600000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | GBX4.67 Million | 0.27% |
| Common Stock | GBX1.77 Million | 0.10% |
| Other Comprehensive Income | GBX494.52 Million | 28.74% |
| Other Components | GBX1.22 Billion | 70.88% |
| Total Equity | GBX1.72 Billion | 100.00% |
Smithson Investment Trust PLC Competitors by Market Cap
The table below lists competitors of Smithson Investment Trust PLC ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
450 PLC
LSE:450
|
$1.71K |
|
O Bank No. 1 REIT
TW:01009T
|
$1.72K |
|
Comaliment Resita SA
RO:OMAL
|
$1.72K |
|
Xfuels Inc
PINK:XFLS
|
$1.72K |
|
RIO GRANDE RESOURCES LTD.
F:488
|
$1.71K |
|
Future Farm Technologies Inc
PINK:FFRMF
|
$1.71K |
|
Sanasa Development Bank PLC
CM:SDBN0000
|
$1.71K |
|
Panther Tyres Ltd.
KAR:PTL
|
$1.70K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Smithson Investment Trust PLC's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,129,897,000 to 1,720,475,000, a change of -409,422,000 (-19.2%).
- Net loss of 62,839,000 reduced equity.
- Dividend payments of 716,000 reduced retained earnings.
- Share repurchases of 349,455,000 reduced equity.
- Other comprehensive income increased equity by 494,522,000.
- Other factors decreased equity by 490,934,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | GBX-62.84 Million | -3.65% |
| Dividends Paid | GBX716.00K | -0.04% |
| Share Repurchases | GBX349.45 Million | -20.31% |
| Other Comprehensive Income | GBX494.52 Million | +28.74% |
| Other Changes | GBX-490.93 Million | -28.53% |
| Total Change | GBX- | -19.22% |
Book Value vs Market Value Analysis
This analysis compares Smithson Investment Trust PLC'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: 97.62x
- 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 152.68x to 97.62x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | GBX9.42 | GBX1438.00 | x |
| 2019-12-31 | GBX14.64 | GBX1438.00 | x |
| 2020-12-31 | GBX18.65 | GBX1438.00 | x |
| 2021-12-31 | GBX21.14 | GBX1438.00 | x |
| 2022-12-31 | GBX13.82 | GBX1438.00 | x |
| 2023-12-31 | GBX15.39 | GBX1438.00 | x |
| 2024-12-31 | GBX16.32 | GBX1438.00 | x |
| 2025-12-31 | GBX14.73 | GBX1438.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Smithson Investment Trust PLC 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): -3.65%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -34.17%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 1.00x
- Recent ROE (-3.65%) is below the historical average (1.75%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | -6.26% | -2021.57% | 0.00x | 1.01x | GBX-128.54 Million |
| 2019 | 16.57% | 3046.90% | 0.01x | 1.00x | GBX94.42 Million |
| 2020 | 21.29% | 99.33% | 0.21x | 1.00x | GBX263.30 Million |
| 2021 | 14.96% | 99.06% | 0.15x | 1.00x | GBX167.01 Million |
| 2022 | -40.02% | 0.00% | -0.40x | 1.00x | GBX-1.21 Billion |
| 2023 | 11.49% | 97.24% | 0.12x | 1.00x | GBX38.12 Million |
| 2024 | -0.38% | -5.89% | 0.06x | 1.00x | GBX-221.10 Million |
| 2025 | -3.65% | -34.17% | 0.11x | 1.00x | GBX-234.89 Million |
Industry Comparison
This section compares Smithson Investment Trust PLC'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 |
|---|---|---|---|---|
| Smithson Investment Trust PLC (SSON) | GBX1.72 Billion | -6.26% | 0.00x | $1.71K |
| 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 |