olivLaw · European equity research
Sherborne Investors (Guernsey) C Limited SIGC.L
United Kingdom · London Stock Exchange · Vertical: Listed companies from United Kingdom
Sherborne Investors (Guernsey) C Limited is a non-operating investment company listed on the London Stock Exchange that holds a single stake in a target company undergoing a turnaround strategy. Its principal asset had an estimated unaudited net asset value of 539.9 million pounds sterling at 31 March 2024.
At the close of 04 Nov 2026, Sherborne Investors (Guernsey) C Limited (SIGC.L) stock was 0.30 GBP (+0.00% on the day), with P/E 4.7 on diluted EPS of 0.06 GBP over the last 12 months, beta -0.49, 52-week range 0.00–0.42 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 53.1
- neutral
- Bollinger (20, 2)
- 0.04 – 0.47
- in the upper half of the band · %B 0.60 · band width 166.1%
- SMA 50 / 200
- 0.23 / 0.35
- mixed trend
- MACD (12, 26, 9)
- 0.02 / 0.02
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −2.6% | −0.6% | −2.0 pp | — |
| 3 months | −3.3% | −4.2% | +0.9 pp | — |
| 6 months | −14.7% | +4.3% | −19.1 pp | — |
| Year to date | −29.1% | +7.5% | −36.6 pp | — |
| 1 year | −28.9% | +9.9% | −38.8 pp | +5.8% |
| 3 years | −46.6% | +49.8% | −96.5 pp | +26.3% |
| 5 years | −52.0% | +42.8% | −94.9 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 50 percentile of its own 2-quarter history (min 2.6, median 6.1, max 9.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue | 162.3 m | -42.8 m | 46.9 m |
| Revenue YoY | unavailable | −126.4% | unavailable |
| Net income | unavailable | unavailable | unavailable |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | 0.23 | -0.07 | 0.06 |
| Diluted EPS YoY | unavailable | −129.9% | unavailable |
| net % | unavailable | unavailable | unavailable |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2023 · 31 Dec 2023
- Cash
- 816.6 k GBP
- Financial debt
- unavailable GBP
- Net debt
- unavailable GBP
- Equity
- 566.3 m GBP
- Total assets
- unavailable GBP
- Debt / equity
- unavailable
- Current ratio
- 8.33x
- ROE
- unavailable
- ROA
- unavailable
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (GBP)
Income statement · GBP
Balance sheet · GBP
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Cash | 5.0 m | 5.0 m | 816.6 k | esef· 29 May 2024verified |
| Current assets | 5.0 m | 5.0 m | 835.3 k | esef· 29 May 2024verified |
| Accounts payable | 128.7 k | 227.3 k | 100.3 k | esef· 29 May 2024verified |
| Current liabilities | 128.7 k | 227.3 k | 100.3 k | esef· 29 May 2024verified |
| Equity | 580.5 m | 529.4 m | 566.3 m | esef· 29 May 2024verified |
Cash flow · GBP
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 2 of at least 6
- score weight coverage: 14.6% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
15% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 14.6% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 8.3x | 100 (on a fixed band) | 29% |
| P/E (TTM) · Valuation | 4.7x | 89 (vs peers) | 71% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partialunavailable · 0/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial89/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
SHERBORNE INVESTORS (GUERNSEY) C LIMITED (SIGC.L). Latest full fiscal year: 2023; data up to 2023-12-31.
Figures computed from the financial statements: revenue 46.9 m GBP in 2023.
The estimated value range is 0.71–1.09 GBP per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.90 GBP, the price of 0.29 GBP leaves a potential of 206.6% (value / price − 1) and a margin of safety of 67.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 14.6% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 8.3x
- P/E (TTM): 4.7x
- The price is below the estimated value range
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
| AEP.LAnglo-Eastern Plantations PLC | — | — | 16.1% | 19.5% | +25.0% | +5% / +113% |
1- and 3-year price returns: for SIGC.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Sherborne Investors (Guernsey) C Limited is a non-operating investment company listed on the London Stock Exchange that holds a single stake in a target company undergoing a turnaround strategy. Its principal asset had an estimated unaudited net asset value of 539.9 million pounds sterling at 31 March 2024 1.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Performance riskhigh
An inappropriate strategy or poor execution of the turnaround could lead to underperformance of the stake 1.
- Market and concentration riskhigh
Investing in a single company could expose the company to market fluctuations greater than those of a diversified portfolio 1.
- Dependence on the managermedium
The company depends entirely on the Investment Manager for selecting the STC and for day-to-day management 1.
- Compliance and reporting riskmedium
Failure to comply with UK Listing Authority or GFSC rules could lead to sanctions, and the qualified audit opinion points to an open issue 1.
- Cyber and operational risklow
Cyber attacks could disrupt service providers and have a reputational impact 1.
Investment thesis
What would need to be true (bull case)
- If the turnaround strategy succeeds, the value of the stake could rise and support the company's net asset value.
- Dividend payments from the STC, paid since 2015, provide a cash flow that could continue.
- Restructuring the funds could remove the reporting issue and make later transactions easier.
What would break the thesis
- If the turnaround fails, the value of the stake could fall significantly, and the company has no other assets to offset the loss.
- Concentration in one company could amplify losses in the event of a market or sector decline.
- The qualified audit opinion and compliance risks could weigh on investor confidence.
What to watch
- Progress of the restructuring of the underlying funds and separation of assets2025
- Dividend payments by the STC and any changes to its dividend policynext 10-K
- Valuation of the STC stake and confirmation of viability to 31 December 20262026
- Auditor opinion and any return of the limitation on scopenext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company is a Guernsey-incorporated investment vehicle listed on the London Stock Exchange that invests in a single company referred to in the report as the STC, held alongside other investors. It has no employees and owns no physical assets; investment management is delegated to an Investment Manager and administration to third-party providers 1. The strategy is to support a turnaround of the STC, with an expected holding period of three to four years 1. Its main cash inflows are dividends paid by the STC to the funds, and it paid ad hoc dividends during 2023 1.
The structure involves a stake in an investment vehicle with limited voting control, so the company does not control the STC. If the STC is a UK company, the intended holding is below 30% of outstanding shares so that no bid for the whole company is required 1. Execution of the turnaround depends on support from other independent shareholders 1.
From a reporting standpoint, the auditors issued a limitation on scope qualified opinion for the year 2023, and the Investment Manager has agreed with the Board to restructure the underlying funds to segregate the company's assets 1.
Segments
Investment in the STC
The company's only asset is its stake in the STC, a target company subject to a turnaround process. Investing in one company at a time concentrates the risk of the investment 1.
Dividends from the STC
The main source of cash inflows is dividends paid by the STC to the funds, and the STC has paid a quarterly dividend since 2015. If the STC stopped paying dividends, liquidity could depend on selling STC shares 1.
Liquidity and financing
The company may use a limited amount of short-term leverage to acquire part of its stake, which would amplify the results of the STC in both directions 1.
Market context
The value of the stake depends on overall market price movements and on developments in the sector in which the STC operates, and the Investment Manager does not typically hedge these exposures 1. Among major shareholders, Invesco Limited held 19.9 percent of shares at 31 December 2023 1.
The Board's assessment uses a three year viability horizon to 31 December 2026, reviewing portfolio liquidity and the relevance of the investment objective in the current environment 1.
Trends
- Restructuring of the underlying fundsmixed
The Investment Manager has agreed with the Board to restructure the funds to segregate the company's assets, aimed at preventing a repeat of the limitation on scope audit opinion 1.
- Growing ESG and climate regulationheadwind
Increasing reporting requirements on ESG and climate change could raise the company's compliance burden and require changes to policies and disclosures 1.
- Cyber security riskheadwind
Cyber attacks and fraud, including phishing and malware, could disrupt service providers and affect the company's reputation 1.
Competitive position
The company does not name direct competitors in the sources reviewed. It operates as an investment vehicle concentrated on one stake, so the relevant comparison is other investment entities pursuing turnaround strategies in listed companies 1.
The sources contain no list of competitors, so no comparison with other issuers can be drawn from these texts.
- No competitors named in the source
The source does not name other issuers with which the company competes.
- Other major shareholders of the STC
Institutional holders such as Invesco and Columbia Threadneedle are listed as shareholders, not as direct competitors.
- Other turnaround-focused investment funds
Not named in the source; any comparison would be generic.
- Other investors in the same issuer
Parallel investors in the STC may exist, but the source does not identify them.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202329 May 2024
- Annual report 202202 May 2023
Sources
- [1] Annual report, fiscal year ended 2023-12-31 (ESEF) · SEC / Sherborne Investors (Guernsey) C Limited · 31 Dec 2023
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.