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Ninety One
(LSE:N91)
Ninety One (N91) vs. iShares MSCI United Kingdom ETF (EWC)
Ninety One Business Overview & Revenue Model
Ninety One Earnings Call Summary
Ninety One Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 732.90M | 588.50M | 700.00M | 745.50M | 795.10M | 755.90M |
| Gross Profit | 0.00 | 295.50M | 594.60M | 627.10M | 663.90M | 625.10M |
| EBITDA | 212.70M | 234.20M | 221.40M | 231.20M | 286.10M | 224.60M |
| Net Income | 158.00M | 163.90M | 150.10M | 163.80M | 205.30M | 154.40M |
Balance Sheet | ||||||
| Total Assets | 13.64B | 11.12B | 12.21B | 10.81B | 11.68B | 9.90B |
| Cash, Cash Equivalents and Short-Term Investments | 351.40M | 378.50M | 11.79B | 10.34B | 11.18B | 9.40B |
| Total Debt | 81.60M | 94.70M | 86.60M | 102.70M | 109.40M | 110.40M |
| Total Liabilities | 13.25B | 10.75B | 11.84B | 10.46B | 11.34B | 9.65B |
| Stockholders Equity | 390.80M | 367.40M | 373.40M | 349.80M | 341.50M | 253.20M |
Cash Flow | ||||||
| Free Cash Flow | 210.20M | 169.30M | 314.00M | 73.40M | 653.20M | 440.00M |
| Operating Cash Flow | 214.40M | 171.80M | 318.40M | 74.60M | 654.60M | 459.40M |
| Investing Cash Flow | -6.80M | -4.40M | -7.80M | 2.40M | -393.10M | -408.70M |
| Financing Cash Flow | -163.90M | -163.80M | -165.40M | -164.30M | -145.70M | -68.90M |
Ninety One Technical Analysis
Ninety One Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £3.90B | 12.29 | 6.50% | 7.21% | -7.11% | 0.45% | |
78 Outperform | £4.57B | 13.39 | 41.56% | 5.93% | 4.28% | 5.18% | |
77 Outperform | £7.15B | 20.14 | 8.30% | 5.37% | 4.78% | -4.86% | |
76 Outperform | £2.29B | 36.51 | 4.75% | 4.91% | 14.05% | -3.07% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | £2.63B | -2,094.44 | -0.05% | 3.40% | -28.04% | -102.43% | |
61 Neutral | £7.36B | -124.84 | -1.53% | 7.09% | 9.86% | -134.41% |
Ninety One Corporate Events
Ninety One has disclosed that the Public Investment Corporation’s beneficial interest in Ninety One Limited has decreased from 15.116% to 13.326% of the company’s issued ordinary shares. The reduction in PIC’s percentage holding results from Ninety One issuing new ordinary shares, rather than from PIC buying or selling shares, and the company has filed the necessary notices with the Takeover Regulation Panel in line with South African Companies Act and JSE regulatory requirements, underscoring ongoing compliance and clarifying that ownership dilution arose purely from capital issuance.
The most recent analyst rating on (GB:N91) stock is a Buy with a £279.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One Limited has disclosed that Sanlam Investment Holdings (Pty) Ltd has acquired a beneficial interest in its securities on behalf of clients, increasing Sanlam’s aggregate holding in that class of Ninety One Limited shares from 0% to 19.9% of the total issued securities. The company has submitted the required notifications to South Africa’s Takeover Regulation Panel, with the board confirming reliance on information provided by Sanlam in the regulatory filing; the transaction signals a substantial new institutional stake in Ninety One Limited, potentially reinforcing market confidence and influencing the shareholder base dynamics of the dual-listed asset manager.
The most recent analyst rating on (GB:N91) stock is a Buy with a £279.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One Limited has disclosed that shareholder Forty Two Point Two’s beneficial interest in its ordinary shares has decreased from 17.5951% to 14.0761% of the issued share capital. The change in percentage holding results from Ninety One’s recent issuance of new ordinary shares, which diluted 42.2’s stake without any additional share purchases or disposals by that shareholder. The company has submitted the required notifications to South Africa’s Takeover Regulation Panel, and its board has accepted responsibility for the accuracy of the disclosed information, underscoring compliance with local corporate and listing regulations.
The most recent analyst rating on (GB:N91) stock is a Buy with a £279.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc has announced that its issued ordinary share capital consists of 672,300,825 ordinary shares, each carrying one voting right, and that it holds no shares in treasury. This updated total voting rights figure serves as the reference denominator for shareholders when calculating whether they must disclose new or changed interests in the company under the UK Financial Conduct Authority’s disclosure and transparency rules, reinforcing regulatory compliance and transparency for investors across its London and Johannesburg listings.
The most recent analyst rating on (GB:N91) stock is a Buy with a £286.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One and South African financial services group Sanlam have completed all remaining conditions for the South African leg of their long-term active asset management partnership, following the earlier closing of the UK component in June 2025. With both the South African and UK transactions now implemented, the Sanlam Group has secured an effective equity interest of about 12.5% in Ninety One on a dual-listed company basis (or roughly 9.1% excluding minority interests), cementing a strategic alignment that strengthens Sanlam’s influence in Ninety One and deepens their collaboration in asset management across both markets.
The most recent analyst rating on (GB:N91) stock is a Buy with a £286.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One has completed the South African component of its previously announced transaction with Sanlam, acquiring all the shares in Sanlam Investment Management Proprietary Limited and formally initiating a 15-year strategic active asset management relationship with the Sanlam Group. As consideration for the deal, Ninety One issued new ordinary shares in both Ninety One plc and Ninety One Limited to Sanlam Investment Holdings and Sanlam Life Insurance, with these consideration shares admitted to trading on the main markets of the London Stock Exchange and Johannesburg Stock Exchange, reinforcing Ninety One’s partnership with a major South African financial services group and expanding its scale and distribution reach in the region.
The most recent analyst rating on (GB:N91) stock is a Buy with a £286.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc has confirmed that, as of 30 January 2026, its issued ordinary share capital comprises 626,873,731 ordinary shares of £0.0001 each, with one voting right per share and no shares held in treasury. The disclosure, made under UK Financial Conduct Authority transparency rules, sets the official denominator for investors to calculate and report any notifiable holdings or changes in their interest in the company, reinforcing transparency and regulatory compliance for shareholders on both the London and Johannesburg exchanges.
The most recent analyst rating on (GB:N91) stock is a Buy with a £286.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One has announced that the South African component of its previously agreed transaction with Sanlam, involving the acquisition of Sanlam Investment Management Proprietary Limited, is expected to complete on 2 February 2026, triggering the start of an initial 15-year strategic active asset management relationship between Ninety One and the Sanlam Group. As part of the consideration for the deal, Ninety One will issue and allot a substantial number of new ordinary shares in both Ninety One plc and Ninety One Limited to Sanlam entities, with applications made for these shares to be admitted to trading on the London and Johannesburg stock exchanges, a move that will deepen Ninety One’s partnership with a major South African financial services group and expand its assets and distribution reach in the region.
The most recent analyst rating on (GB:N91) stock is a Buy with a £285.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One has disclosed a transaction by Malcolm Gray, a director of one of its major subsidiaries, involving the disposal of 29,000 ordinary shares in Ninety One plc at a price of £2.204858 per share on 14 January 2026 in London. The notification, made in line with Market Abuse Regulation and listing requirements in both the UK and South Africa, underscores the group’s compliance with regulatory standards on transparency around dealings by senior management and related parties in its securities, providing stakeholders with visibility into insider share transactions.
The most recent analyst rating on (GB:N91) stock is a Buy with a £272.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One reported that its assets under management (AUM) rose to £159.8 billion as of 31 December 2025, up from £152.1 billion at the end of September 2025 and £130.2 billion a year earlier, underscoring continued growth in client assets and the scale of its global investment franchise. The firm plans to provide its next AUM update for the fourth quarter of its 2026 financial year on 16 April 2026, information closely watched by investors as an indicator of business momentum and fee-earning capacity.
The most recent analyst rating on (GB:N91) stock is a Buy with a £258.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc has repurchased 58,462 of its ordinary shares on the London Stock Exchange as part of its ongoing share buyback programme initiated in March 2025, with the shares acquired at an average price of 219.36 pence and earmarked for cancellation. The transaction, executed via broker Citigroup Global Markets, marginally reduces the company’s share count, contributing to capital management efforts and potentially enhancing value per share for existing investors, while underscoring its continued commitment to returning capital to shareholders.
The most recent analyst rating on (GB:N91) stock is a Hold with a £209.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One has disclosed a series of small share acquisitions in Ninety One plc by senior executives and a key subsidiary director under its Share Incentive Plan, in line with regulatory requirements in London and Johannesburg. Company secretary Amina Rasool, group CEO Hendrik du Toit, director Kim McFarland and major-subsidiary director David Weaire each acquired modest volumes of ordinary shares on 6 January 2026 through the automatic reinvestment of cash dividends into “Dividend Shares” at £2.216 per share, signalling continued alignment between management and shareholders while underscoring the firm’s adherence to market abuse and listing disclosure rules in both jurisdictions.
The most recent analyst rating on (GB:N91) stock is a Hold with a £209.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc has disclosed that its issued ordinary share capital comprises 627,012,193 ordinary shares of £0.0001 each, with each share carrying one voting right and no shares held in treasury, resulting in an identical total of 627,012,193 voting rights. The company noted that this figure should be used by shareholders as the reference denominator when calculating whether they must notify the regulator and the company of any holdings or changes in holdings under the FCA’s Disclosure Guidance and Transparency Rules, reinforcing transparency requirements for significant shareholders across its London and Johannesburg listings.
The most recent analyst rating on (GB:N91) stock is a Hold with a £209.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One’s Guernsey Employee Benefit Trust has purchased a total of 88,016 Ninety One plc ordinary shares on the London market in two transactions on 24 and 29 December 2025, for an aggregate consideration of about £188,579. The on-market acquisitions, disclosed in line with London and Johannesburg listing requirements, are intended to support the group’s employee incentive and benefit schemes, marginally increasing the trust’s holding and underscoring the company’s ongoing use of equity-based compensation as part of its broader remuneration strategy.
The most recent analyst rating on (GB:N91) stock is a Hold with a £209.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One PLC has initiated a share repurchase program, recently buying 45,566 of its ordinary shares through Citigroup Global Markets Limited. These shares, acquired at an average price of 209.6100 GB pence, will be canceled, marking a strategic move to enhance shareholder value and optimize capital structure, reflecting the company’s proactive approach to managing equity.
The most recent analyst rating on (GB:N91) stock is a Hold with a £209.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc announced the repurchase of 90,085 of its ordinary shares on December 16, 2025, as part of its ongoing share repurchase program. The shares were bought at an average price of 209.5800 GP pence per share and will be canceled, reflecting the company’s strategic move to optimize its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:N91) stock is a Hold with a £209.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc announced the repurchase of 63,371 of its ordinary shares on 15 December 2025, as part of its ongoing share repurchase program initiated earlier in the year. This move, executed through Citigroup Global Markets Limited, reflects the company’s strategic efforts to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:N91) stock is a Hold with a £209.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc announced the repurchase of 109,455 of its ordinary shares on 12 December 2025, as part of its ongoing share repurchase programme initiated earlier in March 2025. The shares were bought through Citigroup Global Markets Limited and will be cancelled, reflecting the company’s strategic approach to managing its capital structure and potentially enhancing shareholder value.
The most recent analyst rating on (GB:N91) stock is a Hold with a £209.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc announced the repurchase of 109,737 of its ordinary shares on December 11, 2025, as part of its share repurchase program initiated earlier in March 2025. This move is likely aimed at consolidating ownership and potentially enhancing shareholder value, reflecting the company’s strategic financial management and market positioning.
The most recent analyst rating on (GB:N91) stock is a Hold with a £209.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc has announced the repurchase of 103,193 of its ordinary shares, which will be cancelled, as part of its share repurchase program initiated in March 2025. This move is in line with the company’s strategic efforts to manage its capital structure and potentially enhance shareholder value, reflecting a proactive approach in its financial management.
The most recent analyst rating on (GB:N91) stock is a Hold with a £209.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc announced the repurchase of 100,426 of its ordinary shares through its broker, Citigroup Global Markets Limited. This action is part of the company’s share repurchase program initiated in March 2025, reflecting a strategic move to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:N91) stock is a Hold with a £209.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc has announced the repurchase of 110,000 of its ordinary shares through Citigroup Global Markets Limited, as part of its ongoing share repurchase programme initiated earlier in March 2025. This move is likely aimed at enhancing shareholder value and optimizing capital structure, reflecting the company’s strategic focus on maintaining a robust financial position.
The most recent analyst rating on (GB:N91) stock is a Buy with a £240.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc has announced the repurchase of 85,346 of its ordinary shares on December 4, 2025, as part of its ongoing share repurchase program initiated in March 2025. The shares were bought at an average price of 208.2700 pence and will be cancelled, reflecting the company’s strategy to enhance shareholder value and optimize its capital structure.
The most recent analyst rating on (GB:N91) stock is a Hold with a £222.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One has announced transactions involving directors and key managerial personnel, highlighting acquisitions of shares on the London Stock Exchange. This notification is in compliance with regulatory requirements, reflecting the company’s commitment to transparency and adherence to market regulations, potentially impacting stakeholders’ perception of governance practices.
The most recent analyst rating on (GB:N91) stock is a Hold with a £222.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One plc has announced its total voting rights, revealing that its issued ordinary share capital consists of 627,829,372 ordinary shares, each carrying one voting right. This disclosure is in line with the FCA’s Disclosure Guidance and Transparency Rule, allowing shareholders to calculate their interests in the company accurately.
The most recent analyst rating on (GB:N91) stock is a Buy with a £242.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One has announced a notification of transactions involving its directors and persons closely associated with them, in compliance with UK and JSE regulations. The transactions involved the acquisition of shares on the London Stock Exchange, reflecting the company’s adherence to regulatory requirements and transparency in its operations.
The most recent analyst rating on (GB:N91) stock is a Buy with a £242.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One has announced transactions involving the acquisition of shares by individuals closely associated with its directors and prescribed officers. This notification, required under UK and South African regulations, highlights the acquisition of ordinary shares by associates of key directors, including Hendrik du Toit and Kim McFarland, at the London Stock Exchange. Such transactions are significant as they reflect the confidence of insiders in the company’s future prospects and can influence stakeholder perceptions.
The most recent analyst rating on (GB:N91) stock is a Buy with a £242.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One has announced transactions involving directors and persons with managerial responsibilities, as well as their associates, in compliance with regulatory requirements. The transactions involved the acquisition of shares on the London Stock Exchange, reflecting the company’s adherence to transparency and regulatory standards, potentially impacting stakeholder perceptions and market positioning.
The most recent analyst rating on (GB:N91) stock is a Buy with a £242.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.
Ninety One has reported a significant increase in its assets under management, reaching £152.1 billion, marking a 19% rise over the past year. The company has seen a 12% increase in adjusted operating profit and a 15% rise in adjusted earnings per share. The relationship with Sanlam has contributed positively to these results, with a notable £1.9 billion AUM from the UK transaction. The company is focusing on growth in international public markets, Southern Africa, and private markets, while also investing in technology and innovation, including AI and digital finance, to enhance client service and operational efficiency.
The most recent analyst rating on (GB:N91) stock is a Hold with a £226.00 price target. To see the full list of analyst forecasts on Ninety One stock, see the GB:N91 Stock Forecast page.