Albion Technology & General VCT (AATG) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 5.45%
• Average Volume (3M): 42.58K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.03
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: N/A
• Sector: General
• Sector Strength: N/A
• Industry: Asset Management
• EPS (TTM): >-0.01
• Shares Outstanding: 395,516,800
• 10 Day Avg. Volume: 120,357
• 30 Day Avg. Volume: 42,581
• PEG Ratio: 0.08
• Price to Book (P/B): 0.52
• Price to Sales (P/S): 27.32
• P/FCF Ratio: -112.24
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: 67.00 p ▲(1.52% Upside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 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 Business Overview & Revenue Model

Company Description

Albion 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

AATG makes money primarily through investment returns generated from its portfolio rather than by selling products or services. Its main economic drivers are: (1) Realised capital gains from exits: when a portfolio company is sold, refinanced, or otherwise exited at a value above AATG’s cost, the trust realises gains that can increase net asset value and support dividends. (2) Income from portfolio investments: to the extent portfolio companies pay dividends, interest, or other distributions on AATG’s holdings, these receipts contribute to investment income. (3) Changes in fair value (unrealised gains/losses): because the trust holds investments that are periodically revalued, increases in the assessed value of holdings can raise NAV even before an exit, though these gains are not cash until realised. (4) Cash management income: any interest earned on cash balances or short-term deposits contributes incremental income. The trust’s ability to generate earnings is influenced by the performance of underlying investee companies, the timing and pricing of exits, and compliance with UK VCT qualifying investment rules. Specific details on fee arrangements with the investment manager, named partnerships, or the exact breakdown of revenue/income streams are not available here and are therefore null.

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

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

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

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.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.47M	4.80M	3.61M	3.28M	20.25M	36.00K
Gross Profit	2.94M	12.51M	926.00K	-2.85M	22.60M	2.06M
EBITDA	2.20M	11.43M	4.35M	-6.30M	19.89M	0.00
Net Income	109.00K	11.43M	4.35M	-6.30M	19.89M	-311.00K
Balance Sheet
Total Assets	270.52M	254.14M	128.41M	122.35M	107.77M	78.64M
Cash, Cash Equivalents and Short-Term Investments	55.57M	47.81M	25.57M	26.59M	14.36M	11.45M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	1.81M	2.82M	1.09M	1.10M	780.00K	613.00K
Stockholders Equity	268.71M	251.32M	127.32M	121.25M	106.99M	78.03M
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 Flow	36.21M	24.80M	1.72M	20.55M	9.08M	-13.68M

Albion Technology & General VCT Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
AATG	54 Neutral	―	-29.84	0.05%	5.45%	―	―
PUAL	54 Neutral	―	-14.12	-10.50%	3.08%	77.84%	64.90%

Albion Technology & General VCT Corporate Events

Albion Technology & General VCT Closes Fully Subscribed £30m Top-Up Offer

Albion Technology & General VCT PLC has fully subscribed its latest offer for subscription under the Albion VCTs Prospectus Top Up Offers 2025/2026, reaching the £30 million limit including its £10 million over-allotment facility. As a result, the offer is now closed to further applications, while the separate offer for Albion Crown VCT PLC remains open until early April 2026 unless it is fully subscribed sooner.

Shares relating to valid applications received before the closure are expected to be allotted on 27 March 2026 for the 2025/2026 tax year and admitted to trading on the London Stock Exchange around 1 April 2026. The successful fundraising strengthens Albion Technology & General VCT’s capital base for future investments, underscoring continued investor demand for tax-advantaged venture capital trust products in the UK market.

The most recent analyst rating on (GB:AATG) stock is a Hold with a £69.00 price target. To see the full list of analyst forecasts on Albion Technology & General VCT stock, see the GB:AATG Stock Forecast page.

Albion Technology & General VCT Updates Total Voting Rights and Share Capital

Albion Technology & General VCT PLC has reported its updated share capital and voting rights position as of 27 February 2026, confirming a total of 427,887,766 ordinary 1p shares in issue. Of these, 32,370,947 shares are held in treasury with no voting rights, leaving 395,516,819 shares in circulation, each carrying one voting right.

The company stated that this total voting rights figure serves as the reference denominator for shareholders and other market participants when calculating whether they are required to disclose holdings or changes in holdings under the FCA’s Disclosure Guidance and Transparency Rules. The update helps maintain transparency in ownership reporting and supports regulatory compliance for investors in the VCT.

The most recent analyst rating on (GB:AATG) stock is a Hold with a £69.00 price target. To see the full list of analyst forecasts on Albion Technology & General VCT stock, see the GB:AATG Stock Forecast page.

Albion Technology & General VCT Discloses New External Role for Board Director

Albion Technology & General VCT has disclosed that director Swarupa Pathakji will take on an additional role as non-executive director and chair of the audit committee at Roadside Real Estate PLC, effective 24 March 2026. The appointment expands Pathakji’s responsibilities in UK-listed corporate governance and may enhance cross-board oversight experience that can indirectly benefit Albion’s board deliberations and stakeholder confidence in its governance standards.

The most recent analyst rating on (GB:AATG) stock is a Hold with a £69.00 price target. To see the full list of analyst forecasts on Albion Technology & General VCT stock, see the GB:AATG Stock Forecast page.

Albion Technology & General VCT Director Takes New Non-Executive Role

Albion Technology & General VCT PLC has announced that David Benda, already a director of the trust, will take on an additional role as a non-executive director of The Scottish Oriental Smaller Companies Trust PLC, effective 23 April 2026. The appointment broadens Benda’s governance responsibilities across the investment trust sector and may strengthen Albion Technology & General VCT’s connections and insight into smaller companies markets, potentially benefiting its oversight and strategic positioning.

The move underscores the cross-board engagement common in the UK investment trust industry, where experienced directors often serve on multiple boards, facilitating knowledge transfer and alignment with best practices. Stakeholders in Albion Technology & General VCT may view this as a sign of the board’s expanding external perspectives, although the announcement does not indicate any immediate changes to the company’s existing operations or investment strategy.

The most recent analyst rating on (GB:AATG) stock is a Hold with a £69.00 price target. To see the full list of analyst forecasts on Albion Technology & General VCT stock, see the GB:AATG Stock Forecast page.

Albion Technology & General VCT Updates Total Voting Rights and Share Capital

Albion Technology & General VCT PLC has reported that, as of 30 January 2026, it has 427,887,766 ordinary 1p shares in issue, of which 32,370,947 are held in treasury with no voting rights, leaving 395,516,819 shares in circulation each carrying one voting right. The updated total voting rights figure provides clarity for shareholders and the wider market in calculating disclosure thresholds under the FCA’s Disclosure Guidance and Transparency Rules, ensuring accurate reporting of significant shareholdings and changes in investor positions in the trust.

The most recent analyst rating on (GB:AATG) stock is a Hold with a £69.00 price target. To see the full list of analyst forecasts on Albion Technology & General VCT stock, see the GB:AATG Stock Forecast page.

Albion Technology & General VCT Confirms Total Voting Rights as of 31 December 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.

Albion Technology & General VCT Director Subscribes for New Shares Under Offer

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.

Albion Technology & General VCT Raises £13.2m in Share Offer, Boosting Capital and Voting Rights

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.