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Albion Technology & General VCT PLC (GB:AATG)
LSE:AATG
UK Market

Albion Technology & General VCT (AATG) AI Stock Analysis

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GB:AATG

Albion Technology & General VCT

(LSE:AATG)

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Neutral 54 (OpenAI - 5.2)
Rating:54Neutral
Price Target:
67.00 p
▲(1.52% Upside)
Action:N/ADate:01/04/26
The score is held back primarily by weak cash conversion (negative operating and free cash flow across all reported years) and an uneven earnings/revenue profile, despite a very strong, debt-free balance sheet. Technical signals are broadly neutral, while valuation appears expensive on P/E even with a supportive dividend yield.

Albion Technology & General VCT (AATG) vs. iShares MSCI United Kingdom ETF (EWC)

Albion Technology & General VCT Business Overview & Revenue Model

Company DescriptionAlbion Technology & General VCT PLC is a venture capital trust specializing in technology and nontechnology-related companies based in the United Kingdom. It does not invest in companies that deal in property or shares and securities, insurance, banking, agriculture. The fund seeks to invest half of the assets in quoted global technology stocks and the remaining assets in unquoted UK non-tech companies. It seeks to invest 40 percent in unquoted UK technology related companies and 60 percent in unquoted UK non-technology companies. It invests in shares or securities including loans with a five year or greater maturity period. The gross assets of a portfolio company must not exceed £15 million ($17.39 million) immediately prior to the investment and £16 million ($18.55 million) immediately thereafter. The maximum each portfolio company can receive from State Aided risk capital schemes is £5 million ($5.80 million) in aggregate from all state aided providers of risk capital, including VCTs, in the 12 month period up to and including the most recent such investment.
How the Company Makes Money

Albion Technology & General VCT Financial Statement Overview

Summary
Balance sheet strength (zero debt and high equity vs. assets) supports stability, but this is offset by highly volatile revenue and a persistent multi-year pattern of negative operating/free cash flow despite reported profitability.
Income Statement
58
Neutral
Profitability is currently strong, with 2024 net income of 11.4m and positive earnings after the 2022 loss. However, revenue is highly volatile—2024 revenue fell ~65% after more modest growth in 2023 and an extreme spike in 2021—reducing confidence in the durability of the earnings profile. Margin figures are also inconsistent year-to-year, reinforcing the uneven operating backdrop.
Balance Sheet
86
Very Positive
The balance sheet is a clear strength: total debt is 0 across all reported years, and equity is sizable (251.3m in 2024) relative to total assets (254.1m). Returns on equity are positive in 2023–2024 (about 3.4% to 4.5%) but remain moderate, and the 2022 negative return highlights that profitability can swing materially even with low financial leverage.
Cash Flow
34
Negative
Cash generation is a key weakness: operating cash flow and free cash flow are negative in every year shown (including -1.17m in 2024 and -1.54m in 2023), indicating the company is not consistently converting accounting profits into cash. While the cash outflow improved versus 2023, the multi-year pattern of negative cash flow increases reliance on the balance sheet and creates execution risk if outflows persist.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue4.47M4.80M3.61M3.28M20.25M36.00K
Gross Profit2.94M12.51M926.00K-2.85M22.60M2.06M
EBITDA2.20M11.43M4.35M-6.30M19.89M0.00
Net Income109.00K11.43M4.35M-6.30M19.89M-311.00K
Balance Sheet
Total Assets270.52M254.14M128.41M122.35M107.77M78.64M
Cash, Cash Equivalents and Short-Term Investments55.57M47.81M25.57M26.59M14.36M11.45M
Total Debt0.000.000.000.000.000.00
Total Liabilities1.81M2.82M1.09M1.10M780.00K613.00K
Stockholders Equity268.71M251.32M127.32M121.25M106.99M78.03M
Cash Flow
Free Cash Flow-1.89M-1.17M-1.54M-6.30M-1.85M-1.73M
Operating Cash Flow-1.89M-1.17M-1.54M-6.30M-1.85M-1.73M
Investing Cash Flow-13.80M-1.39M-1.21M-6.58M-4.32M-5.61M
Financing Cash Flow36.21M24.80M1.72M20.55M9.08M-13.68M

Albion Technology & General VCT Peers Comparison

Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
55
Neutral
$6.65B3.83-15.92%6.20%10.91%7.18%
54
Neutral
-29.840.05%5.45%
54
Neutral
-14.12-10.50%3.08%77.84%64.90%
* General Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:AATG
Albion Technology & General VCT
66.00
0.10
0.15%
GB:GV1O
Gresham House Renewable Energy VCT 1 PLC
33.00
-2.00
-5.71%
GB:GV1A
Gresham House Renewable Energy VCT 1 Plc Class A
5.05
0.00
0.00%
GB:PUAL
Puma Alpha VCT Plc
90.50
-7.00
-7.18%
GB:TPV
Triple Point VCT 2011 PLC
86.00
0.51
0.60%
GB:PU13
Puma VCT 13 PLC
117.50
1.00
0.86%

Albion Technology & General VCT Corporate Events

Regulatory Filings and Compliance
Albion Technology & General VCT Confirms Total Voting Rights as of 31 December 2025
Neutral
Dec 31, 2025

Albion Technology & General VCT PLC has confirmed that, as of 31 December 2025, it has 427,887,766 ordinary 1p shares in issue, of which 32,370,947 are held in treasury and 395,516,819 are in circulation carrying one voting right each. The company said this total voting rights figure serves as the reference point for shareholders and other market participants when calculating disclosure thresholds for holdings under the FCA’s Disclosure Guidance and Transparency Rules, ensuring clarity around ownership reporting and regulatory compliance.

Private Placements and Financing
Albion Technology & General VCT Director Subscribes for New Shares Under Offer
Positive
Dec 19, 2025

Albion Technology & General VCT PLC disclosed that director and PDMR Simon Thorpe has been issued ordinary shares of 1p each under the company’s ongoing offer for subscription, with a £10,000 investment at a price of £0.7114 per share on 19 December 2025. The transaction, conducted on the London Stock Exchange, reinforces management’s direct financial alignment with shareholders as the VCT continues to raise capital to support its investment activities in UK growth companies.

Business Operations and StrategyPrivate Placements and Financing
Albion Technology & General VCT Raises £13.2m in Share Offer, Boosting Capital and Voting Rights
Positive
Dec 19, 2025

Albion Technology & General VCT PLC has raised approximately £13.2 million through the allotment of 19.2 million new ordinary shares under its 2025/26 prospectus top-up offer, with pricing structured to avoid capital dilution for existing shareholders. The new shares, which include both early-bird discounted and standard-priced allocations to existing and new investors, are expected to be admitted to the London Stock Exchange around 22 December 2025, taking total funds raised across the Albion VCTs under the current offers to £44 million and lifting Albion Technology & General VCT’s voting share capital to 395.5 million, a move that strengthens its capital base and provides additional firepower for future investments while updating investors on its enlarged voting rights position.

Stock BuybackRegulatory Filings and Compliance
Albion Technology & General VCT Adjusts Voting Rights Through Share Repurchase
Neutral
Dec 16, 2025

Albion Technology & General VCT PLC, a company involved in investment and capital management, announced the repurchase and cancellation of 2,389,775 ordinary shares, representing 0.63% of its total voting rights. This transaction adjusts the company’s total voting rights to 376,321,267, which shareholders can use to assess their interest in the company, aligning with FCA’s Disclosure Guidance and Transparency Rules.

Business Operations and StrategyPrivate Placements and Financing
Albion Technology & General VCT Expands Fundraising Capacity Amid Strong Demand
Positive
Dec 10, 2025

Albion Technology & General VCT PLC is responding to strong demand for its shares by expanding its fundraising capacity through the Albion VCTs Prospectus Top Up Offers 2025/2026. The company has decided to utilize a £10 million overallotment facility, increasing its maximum fundraising potential from £20 million to £30 million. This move reflects the company’s strategic efforts to capitalize on investor interest and enhance its financial resources.

Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Albion Technology & General VCT PLC Reports NAV Growth and New Fundraising Initiatives
Neutral
Dec 2, 2025

Albion Technology & General VCT PLC reported a slight increase in its net asset value to £269.0 million as of September 2025, despite a dividend payout. The company launched a new fundraising prospectus aiming to raise up to £20 million, with an additional £10 million overallotment facility. Recent investments include ventures in digital asset ratings and AI-powered retail platforms. The company also exited its investment in The Evewell Group, achieving a significant return. The UK government’s recent budget announcement to modernize VCT schemes is welcomed by Albion, although the reduction in tax relief is seen as a setback.

Regulatory Filings and Compliance
Albion Technology & General VCT PLC Announces Total Voting Rights and Capital Structure
Neutral
Nov 28, 2025

Albion Technology & General VCT PLC announced its total voting rights and share capital status as of November 28, 2025. The company reported having 411,081,989 ordinary shares issued, with 378,711,042 shares in circulation carrying voting rights. This information is crucial for shareholders and stakeholders to determine their interest in the company under the FCA’s Disclosure Guidance and Transparency Rules.

Regulatory Filings and Compliance
Albion Technology & General VCT PLC Announces Total Voting Rights and Share Capital
Neutral
Oct 31, 2025

Albion Technology & General VCT PLC has announced its total voting rights and share capital as of October 31, 2025. The company reported a total of 411,081,989 ordinary 1p shares issued, with 32,370,947 held in treasury and 378,711,042 in circulation with voting rights. This information is crucial for shareholders and stakeholders to determine their interest in the company under the FCA’s Disclosure Guidance and Transparency Rules.

DividendsRegulatory Filings and Compliance
Albion Technology & General VCT PLC Announces New Share Issuance and Voting Rights Update
Neutral
Oct 31, 2025

Albion Technology & General VCT PLC has announced the issuance of 1,376,604 new Ordinary shares as part of its Dividend Reinvestment Scheme, priced at 68.93p per share. This move increases the company’s total voting rights to 378,711,042, potentially impacting shareholder calculations under FCA rules.

Private Placements and Financing
Albion VCTs Launch £60 Million Fundraising Prospectus
Positive
Oct 23, 2025

Albion Technology & General VCT PLC, along with Albion Enterprise VCT PLC and Albion Crown VCT PLC, has published a prospectus for a new subscription offer to raise up to £60 million, with an additional over-allotment facility of £30 million. The offer, managed by Albion Capital Group LLP, aims to enhance the companies’ investment capabilities, with the proceeds intended to support further growth and expansion, thereby strengthening their market position and offering potential benefits to shareholders.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 04, 2026