Invesco High Income Trust II (VLT) - Net Assets
Based on the latest financial reports, Invesco High Income Trust II (VLT) has net assets worth $71.80 Million USD as of February 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($104.97 Million) and total liabilities ($33.17 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. Check Invesco High Income Trust II tangible book value ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $71.80 Million |
| % of Total Assets | 68.4% |
| Annual Growth Rate | -3.5% |
| 5-Year Change | -20.56% |
| 10-Year Change | -45.93% |
| Growth Volatility | 8.3 |
Invesco High Income Trust II - Net Assets Trend (2006–2026)
This chart illustrates how Invesco High Income Trust II's net assets have evolved over time, based on quarterly financial data. See VLT defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Invesco High Income Trust II (2006–2026)
The table below shows the annual net assets of Invesco High Income Trust II from 2006 to 2026. For live valuation and market cap data, see Invesco High Income Trust II market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2026-02-28 | $71.80 Million | -3.55% |
| 2025-02-28 | $74.44 Million | -0.21% |
| 2024-02-29 | $74.59 Million | -0.86% |
| 2023-02-28 | $75.24 Million | -16.75% |
| 2022-02-28 | $90.38 Million | -7.18% |
| 2021-02-28 | $97.37 Million | +0.37% |
| 2020-02-29 | $97.01 Million | -22.70% |
| 2019-02-28 | $125.50 Million | -3.10% |
| 2018-02-28 | $129.52 Million | -2.47% |
| 2017-02-28 | $132.80 Million | +13.84% |
| 2016-02-29 | $116.65 Million | -16.05% |
| 2015-02-28 | $138.95 Million | -4.31% |
| 2014-02-28 | $145.21 Million | +2.14% |
| 2013-02-28 | $142.17 Million | -0.26% |
| 2008-02-29 | $142.54 Million | -2.77% |
| 2007-02-28 | $146.60 Million | +0.19% |
| 2006-02-28 | $146.32 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Invesco High Income Trust II'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 3822973900.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (February 2026)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $100.72 Million | 140.28% |
| Total Equity | $71.80 Million | 100.00% |
Invesco High Income Trust II Competitors by Market Cap
The table below lists competitors of Invesco High Income Trust II ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Nahar Poly Films Limited
NSE:NAHARPOLY
|
$67.53 Million |
|
Vow ASA
OL:VOW
|
$67.54 Million |
|
Marshall Monteagle PLC
JSE:MMP
|
$67.55 Million |
|
Sports Entertainment Group Ltd
AU:SEG
|
$67.57 Million |
|
HNA Technology Co Ltd B
SHG:900938
|
$67.51 Million |
|
Sewoon Medical Co. Ltd
KQ:100700
|
$67.48 Million |
|
Sangsangin Investment & Securities Co Ltd
KO:001290
|
$67.48 Million |
|
Doganlar Mobilya Grubu Imalat Sanayi ve Ticaret AS
IS:DGNMO
|
$67.47 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Invesco High Income Trust II's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2025 to 2026, total equity changed from 74,439,200 to 71,798,936, a change of -2,640,264 (-3.5%).
- Net income of 4,637,345 contributed positively to equity growth.
- Dividend payments of 4,900,271 reduced retained earnings.
- Share repurchases of 2,377,203 reduced equity.
Equity Change Factors (2025 to 2026)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $4.64 Million | +6.46% |
| Dividends Paid | $4.90 Million | -6.82% |
| Share Repurchases | $2.38 Million | -3.31% |
| Other Changes | $-135.00 | -0.0% |
| Total Change | $- | -3.55% |
Book Value vs Market Value Analysis
This analysis compares Invesco High Income Trust II'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: 0.94x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.59x to 0.94x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-02-28 | $17.51 | $10.37 | x |
| 2014-02-28 | $17.88 | $10.37 | x |
| 2015-02-28 | $17.11 | $10.37 | x |
| 2016-02-29 | $14.37 | $10.37 | x |
| 2017-02-28 | $16.36 | $10.37 | x |
| 2018-02-28 | $15.65 | $10.37 | x |
| 2019-02-28 | $15.52 | $10.37 | x |
| 2020-02-29 | $12.42 | $10.37 | x |
| 2021-02-28 | $14.99 | $10.37 | x |
| 2022-02-28 | $13.91 | $10.37 | x |
| 2023-02-28 | $11.58 | $10.37 | x |
| 2024-02-29 | $11.48 | $10.37 | x |
| 2025-02-28 | $11.46 | $10.37 | x |
| 2026-02-28 | $11.03 | $10.37 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Invesco High Income Trust II 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): 6.46%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 66.48%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.46x
- Recent ROE (6.46%) is above the historical average (4.74%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 0.16% | 2.97% | 0.05x | 1.01x | $-14.39 Million |
| 2007 | 6.96% | 63.18% | 0.11x | 1.01x | $-4.45 Million |
| 2008 | 4.10% | 52.92% | 0.08x | 1.02x | $-8.41 Million |
| 2013 | 11.13% | 161.82% | 0.05x | 1.37x | $1.61 Million |
| 2014 | 9.77% | 112.99% | 0.06x | 1.38x | $-328.45K |
| 2015 | 3.05% | 36.13% | 0.06x | 1.39x | $-9.66 Million |
| 2016 | -10.48% | -107.35% | 0.07x | 1.44x | $-23.89 Million |
| 2017 | 19.07% | 231.42% | 0.06x | 1.37x | $12.04 Million |
| 2018 | 3.83% | 48.89% | 0.06x | 1.37x | $-7.99 Million |
| 2019 | 3.80% | 45.61% | 0.06x | 1.40x | $-7.78 Million |
| 2020 | 5.15% | 49.70% | 0.07x | 1.45x | $-4.70 Million |
| 2021 | 8.09% | 104.69% | 0.06x | 1.37x | $-1.86 Million |
| 2022 | 0.56% | 8.20% | 0.05x | 1.34x | $-8.53 Million |
| 2023 | -10.14% | -116.48% | 0.06x | 1.44x | $-15.15 Million |
| 2024 | 9.21% | 90.35% | 0.07x | 1.47x | $-587.94K |
| 2025 | 9.89% | 94.37% | 0.07x | 1.52x | $-82.20K |
| 2026 | 6.46% | 66.48% | 0.07x | 1.46x | $-2.54 Million |
Industry Comparison
This section compares Invesco High Income Trust II's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,830,051,427
- Average return on equity (ROE) among peers: -2.68%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Invesco High Income Trust II (VLT) | $71.80 Million | 0.16% | 0.46x | $67.52 Million |
| Acadian Asset Management Inc (AAMI) | $2.43 Billion | 0.12% | 2.51x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $381.33 Million | 35.01% | 0.36x | $3.27 Billion |
| Associated Capital Group Inc (AC) | $878.25 Million | 1.16% | 0.08x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $97.63 Million | -30.60% | 0.04x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $8.00 Million | -83.04% | 0.47x | $194.14 Million |
| Alpha Compute Corp (ALP) | $-214.26K | 0.00% | 0.00x | $5.62 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $970.20 Million | -10.62% | 0.29x | $296.12 Million |
| Affiliated Managers Group Inc (AMG) | $4.30 Billion | 10.10% | 0.79x | $9.37 Billion |
| Ameriprise Financial Inc (AMP) | $9.23 Billion | 14.45% | 14.66x | $40.38 Billion |
| AMTD IDEA Group (AMTD) | $3.92 Million | 36.60% | 15.42x | $40.58 Million |
About Invesco High Income Trust II
Invesco High Income Trust II is a closed ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc, INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Hong Kong Limited, INVESCO Senior Secured Management, Inc., and Invesco Canada Ltd. It invests in the fixed income markets. Th… Read more