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JPMorgan Asia Growth & Income

JAGI.L
62
Asset Management - Income · Financial Services
Price
582.00 GBp
+8.00 (+1.39%)
Market Cap
£391.8M
Exchange
London Stock Exchange
Winston Score
62
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Exceptional
Growth
Strong
Cash Flow
Weak
Stability
Good
Valuation
Good
Dividends
Exceptional

Share count falling — buybacks

24.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 95.7M (2021) → 72.3M (2025)

Winston Score History

The full picture

JPMorgan Asia Growth & Income plc is a closed-end investment trust listed on the London Stock Exchange. It invests in shares of companies based across Asia, excluding Japan, covering markets like China, India, South Korea, and Taiwan. The trust is managed by JPMorgan Asset Management, one of the largest investment managers in the world.

The trust makes money by collecting dividends and capital gains from its portfolio of Asian stocks, and it passes income to shareholders through regular dividends. It is relatively small, with a market cap of around $0.4 billion, and its competitive edge comes from JPMorgan's deep research presence across Asian markets. The main risk the trust faces is volatility in Asian economies and stock markets, particularly exposure to China, where regulatory changes and geopolitical tensions can significantly affect the value of its holdings.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+570.1% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+555.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

£0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

0.6%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

£335M cash & investments at current burn rate

Revenue accelerating

JPMorgan Asia Growth & Income grew revenue 570% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
96.1%
Premium pricing power — 96.1% gross margin
Profit after running costs
Operating Margin
94.4%
Excellent — 94.4% operating margin
Return on the money invested
ROCE
24.4%
Exceptional — 24.4% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+133.5%
Fast-growing sales (+133.5% YoY)
Profit growth
EPS YoY
+299.6%
Earnings growing fast (+299.6% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
2%
Weak — only 2% of profit becomes cash
Spare cash per sale
FCF Margin
-1.9%
Burning cash (-1.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
151.44x
Comfortably covers interest (151.4x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
5.3x
Attractive valuation — P/E 5.3

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
5.34%
Healthy income — 5.34% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+50.2%
Dividend growing fast (50.2% YoY)

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