ASA International Group PLC (GB:ASAI)
LSE:ASAI
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ASA International Group PLC
(LSE:ASAI)
Select Model
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Rating:68Neutral
Price Target:
211.00 p
▲(7.93% Upside)
Action:Reiterated
Date:04/17/26
The score is driven by very attractive valuation (low P/E and a dividend) and a strong technical uptrend. These positives are tempered by higher financial risk: sustained negative operating/free cash flow since 2023 and elevated leverage despite improved reported profitability.
Positive Factors
Revenue and Net Income Trend
Steady top-line expansion through 2022–24 and large net income gains into 2025 indicate scalable lending operations and improving underwriting or pricing. Durable revenue and earnings expansion supports long-term profit capacity and reinvestment potential if cash conversion stabilizes.
Negative Factors
Elevated Leverage
High leverage materially increases sensitivity to funding cost rises and loan loss shocks. For a microfinance lender, elevated debt amplifies capital strain from provisioning or portfolio stress, constraining strategic flexibility and increasing refinancing and liquidity risk over a multi‑month horizon.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Net Income Trend
Steady top-line expansion through 2022–24 and large net income gains into 2025 indicate scalable lending operations and improving underwriting or pricing. Durable revenue and earnings expansion supports long-term profit capacity and reinvestment potential if cash conversion stabilizes.
Read all positive factors
ASA International Group PLC (ASAI) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£193.50M
Dividend Yield4.74%
Average Volume (3M)59.00K
Price to Earnings (P/E)2.1
Beta (1Y)0.91
Revenue Growth34.56%
EPS Growth89.25%
CountryUK
Employees14,232
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)0.51
Shares Outstanding100,000,000
10 Day Avg. Volume98,413
30 Day Avg. Volume58,999
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)1.56
Price to Sales (P/S)0.82
P/FCF Ratio-4.22
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.71
Revenue Forecast (FY)£318.71M
ASA International Group PLC Business Overview & Revenue Model
Company Description
ASA International Group PLC provides microfinancing services in Africa and Asia. It offers loans to low-income female micro-entrepreneurs. The company also provides various collateral-free loans, including small and small business loans to start o...
How the Company Makes Money
ASA International primarily makes money by earning interest and fees on its microfinance loan portfolio. Its core revenue stream is net interest income: the company lends to customers at contracted rates and generates revenue from interest accrued...
ASA International Group PLC Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
48
Neutral
Cash Flow
25
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 312.41M | 230.29M | 183.99M | 186.77M | 197.01M |
| Gross Profit | 257.00M | 186.84M | 146.24M | 146.45M | 154.57M |
| EBITDA | 112.23M | 0.00 | 37.66M | 52.05M | 32.09M |
| Net Income | 57.09M | 29.25M | 9.21M | 17.89M | 8.79M |
Balance Sheet | |||||
| Total Assets | 797.11M | 568.50M | 490.03M | 489.75M | 562.55M |
| Cash, Cash Equivalents and Short-Term Investments | 122.52M | 79.82M | 2.15B | 68.97M | 111.48M |
| Total Debt | 428.55M | 324.77M | 276.68M | 264.39M | 322.13M |
| Total Liabilities | 635.26M | 472.01M | 413.42M | 400.09M | 459.11M |
| Stockholders Equity | 164.26M | 98.47M | 77.93M | 89.81M | 103.58M |
Cash Flow | |||||
| Free Cash Flow | -60.63M | -29.68M | -24.17M | 36.95M | 10.35M |
| Operating Cash Flow | -53.44M | -23.54M | -16.67M | 43.12M | 12.52M |
| Investing Cash Flow | -7.17M | -6.07M | -7.50M | -5.83M | -2.19M |
| Financing Cash Flow | 88.47M | 34.91M | 27.56M | -29.72M | -12.41M |
ASA International Group PLC Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | £193.50M | 2.13 | 33.54% | 4.74% | 34.56% | 89.25% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | £545.67M | 5.55 | 10.35% | 4.39% | 1.54% | -9.18% | |
67 Neutral | £95.99M | 2.45 | 12.38% | ― | 18.38% | 13.20% | |
60 Neutral | £230.86M | 5.94 | 9.68% | 5.33% | -7.08% | 32.38% | |
55 Neutral | £388.38M | 2.38 | 21.54% | ― | 37.60% | 2766.67% | |
53 Neutral | £276.46M | 24.71 | 1.89% | ― | 0.07% | ― |
* Financial Sector Average
GB:ASAI
ASA International Group PLC
195.00
42.60
27.96%
GB:IPF
International Personal Finance
247.50
99.20
66.89%
GB:VANQ
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109.00
26.20
31.64%
GB:SUS
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1,960.00
523.71
36.46%
GB:FCH
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135.80
24.60
22.12%
GB:DFCH
Distribution Finance Capital Holdings Plc
57.50
19.50
51.32%
ASA International Group PLC Corporate Events
Executive/Board Changes
ASA International executives exercise LTIP share options
Neutral
May 6, 2026
ASA International Group plc, one of the world’s largest international microfinance institutions, focuses on extending small, socially responsible loans to low-income entrepreneurs, especially women, across South and South East Asia and multi...
Business Operations and StrategyExecutive/Board Changes
ASA International Names Charles Harman as Chairman in Board Succession Overhaul
Positive
May 5, 2026
ASA International Group plc has appointed veteran investment banker Charles Harman as Chairman and Non-Executive Director, effective 4 June 2026, marking a significant leadership transition at the microfinance lender. Harman, who brings over 40 ye...
Business Operations and StrategyFinancial Disclosures
ASA International posts strong Q1 growth as India exit and digital push reshape group
Positive
Apr 30, 2026
ASA International reported a strong start to 2026, with its gross outstanding loan portfolio rising 25% year-on-year to USD 583.2m, driven by a 34% increase in continuing markets and resilient portfolio quality, as PAR>30 remained low at 2.0%. ...
Business Operations and StrategyRegulatory Filings and ComplianceShareholder Meetings
ASA International Sets Hybrid 2026 AGM to Enhance Shareholder Access
Positive
Apr 30, 2026
ASA International Group plc has issued its formal notice for the 2026 Annual General Meeting, reinforcing its governance and investor engagement framework as a major player in global microfinance. The meeting will be held in hybrid format, combini...
Executive/Board Changes
ASA International bolsters board with appointment of seasoned independent director
Positive
Apr 28, 2026
ASA International Group plc has appointed Laurence de l’Escaille as an Independent Non-Executive Director, adding her to its Audit and Risk, Remuneration, Nomination and Independent Directors committees. The move brings in a seasoned board p...
Business Operations and StrategyDividendsFinancial Disclosures
ASA International Doubles 2025 Profit as Loan Book and Digital Push Accelerate
Positive
Apr 15, 2026
ASA International reported a strong 2025, with gross outstanding loan portfolio up 33% to $611 million and net profit almost doubling to $56.5 million, lifting return on average equity to 44%. Portfolio quality remained robust with PAR>30 at 1....
Other
ASA International Executives Boost Shareholdings Through Market Purchases and Option Exercises
Positive
Feb 24, 2026
ASA International Group plc reported that Chief Financial Officer Geert Embrechts purchased 5,500 ordinary shares on 19 February on the London Stock Exchange. The transaction modestly increases management’s direct stake in the microfinance g...
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.