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Jtc

JTC.L
54
Investment - Banking & Investment Services · Financial Services
Price
1,339.00 GBp
+0.00 (+0.00%)
Market Cap
£2.31B
Exchange
London Stock Exchange
Winston Score
54
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Dec 31, 2025
How the score breaks down
Quality
Good
Growth
Mixed
Cash Flow
Exceptional
Stability
Good
Valuation
Data not available
Dividends
Good

Share count rising — dilution

+29.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 131.8M (2021) → 170.5M (2025)

Winston Score History

The full picture

JTC Plc is a financial services company that helps wealthy individuals, families, and large institutions manage and protect their money and assets. It provides services like fund administration, trust management, and corporate services — essentially handling the complex paperwork, legal structures, and reporting that come with owning significant wealth or running investment funds. The company operates across two main divisions: one serving institutional clients like private equity and real estate funds, and one serving private clients like high-net-worth families.

JTC earns money by charging fees for its ongoing administration services, which creates a relatively predictable, recurring revenue stream. It operates across more than 20 jurisdictions globally, including key financial hubs like Jersey, Luxembourg, the Cayman Islands, and the United States, giving it a broad international footprint. The company has grown partly through acquisitions, and its main growth driver is the continued expansion of private markets globally — though integration risk from deals and fee pressure in a competitive administration market remain key risks to watch.

Growth Profile

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

Revenue Growth

+32.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+78.0% 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

17.0%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

£154M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Jtc grew revenue 32% 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.

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Quality

Profit per sale
Gross Margin
130.4%
Premium pricing power — 130.4% gross margin
Profit after running costs
Operating Margin
20.4%
Excellent — 20.4% operating margin
Return on the money invested
ROCE
6.9%
Weak — 6.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+25.1%
Fast-growing sales (+25.1% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
6904%
Turns 6904% of profit into real cash
Spare cash per sale
FCF Margin
15.1%
Converts sales into free cash efficiently (15.1%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.85
Moderate — manageable debt (0.85)
Covers its interest
Interest Cover
2.75x
Tight — interest eats into profit (2.8x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/A
Data not available
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
0.99%
Small dividend — 0.99% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+35.9%
Dividend growing fast (35.9% YoY)

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