New Century AIM VCT 2 (OVCT) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 5.14%
• Average Volume (3M): 3.59K
• Price to Earnings (P/E): 2.5
• Beta (1Y): -0.09
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: N/A
• Sector: General
• Sector Strength: N/A
• Industry: Asset Management
• EPS (TTM): N/A
• Shares Outstanding: 7,443,071
• 10 Day Avg. Volume: 3,120
• 30 Day Avg. Volume: 3,589
• PEG Ratio: -0.03
• Price to Book (P/B): 1.28
• Price to Sales (P/S): -3.49
• P/FCF Ratio: -15.46
• 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: 50 Neutral
• Price Target: 26.00 p ▲(1.17% Upside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

Overall score is held back primarily by weak financial performance, driven by sustained losses since 2022 and consistently negative operating/free cash flow, despite a debt-free balance sheet. Technicals are supportive due to an upward trend, but extremely overbought RSI reduces confidence near term. Valuation support comes mainly from the high dividend yield, while missing P/E data limits the valuation assessment.

New Century AIM VCT 2 Business Overview & Revenue Model

Company Description

New Century AIM VCT 2 Plc is a venture capital trust, which invests its funds primarily in unlisted, UK listed, and AIM traded companies. The company was founded on April 4, 2007 and is headquartered in London, the United Kingdom.

How the Company Makes Money

OVCT makes money primarily from investment returns generated by its portfolio rather than from selling products or services. Its key economic drivers are: (1) capital gains and losses arising when portfolio investments are sold (realised gains) or revalued while still held (unrealised gains), which flow through changes in net asset value; (2) income received from portfolio holdings, such as dividends and, where applicable, interest on any debt-like instruments held within the investment portfolio; and (3) any other investment-related income (e.g., cash deposits). The company typically incurs operating costs and management fees to an external investment manager (specific counterparties and fee terms are not provided here), so net earnings depend on portfolio performance after these expenses. If the VCT issues new shares (e.g., via fundraises), it can increase assets under management and the size of the investable pool, indirectly supporting future returns, but the direct sources of profit remain the portfolio’s income and gains.

New Century AIM VCT 2 Financial Statement Overview

Summary

Financial profile is weak overall: earnings deteriorated into losses (2022–2024) and cash generation is consistently negative across 2020–2024. A debt-free balance sheet reduces financial risk, but shrinking equity and negative ROE in recent years indicate ongoing value erosion.

Income Statement

Earnings performance has deteriorated sharply: revenue swung from positive levels in 2020–2023 to negative in 2024, and profitability flipped from strong profits in 2020–2021 to losses in 2022–2024. While gross profit margins were high in several years, the company has been unable to sustain consistent operating profitability, with large loss years (notably 2022) and continued net losses through 2024.

Balance Sheet

The balance sheet is conservatively positioned with zero debt across all periods, reducing financial risk and refinancing pressure. However, equity has declined materially from 2021 to 2024 alongside recurring losses, and returns on equity have been negative in 2022–2024, indicating erosion of shareholder value despite the low-leverage profile.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative in every year shown (2020–2024), including during periods when reported net income was positive (2020–2021). Recent cash burn improved versus 2023 (less negative in 2024), but cash flows remain consistently out of sync with profitability and are not yet demonstrating sustainable self-funding operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	91.50K	-527.00K	174.00K	25.00K	455.00K	261.00K
Gross Profit	91.50K	-527.00K	151.00K	-4.00K	415.00K	237.00K
EBITDA	136.00K	-630.00K	-282.00K	-1.59M	1.07M	808.00K
Net Income	136.00K	-630.00K	-282.00K	-1.59M	1.07M	808.00K
Balance Sheet
Total Assets	1.95M	1.47M	2.24M	2.54M	3.86M	3.11M
Cash, Cash Equivalents and Short-Term Investments	0.00	16.00K	243.00K	354.00K	0.00	3.05M
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	22.00K	27.00K	30.00K	131.00K	19.00K	19.00K
Stockholders Equity	1.93M	1.44M	2.21M	2.41M	3.84M	3.09M
Cash Flow
Free Cash Flow	0.00	-119.00K	-239.00K	-28.00K	-96.00K	-77.00K
Operating Cash Flow	0.00	-119.00K	-239.00K	-28.00K	-96.00K	-77.00K
Investing Cash Flow	0.00	24.00K	29.00K	125.00K	449.00K	89.00K
Financing Cash Flow	0.00	-132.00K	99.00K	168.00K	-322.00K	74.00K

New Century AIM VCT 2 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%
PUAL	54 Neutral	―	-3.68	-10.50%	3.08%	77.84%	64.90%
OVCT	50 Neutral	―	2.52	―	5.14%	―	―

New Century AIM VCT 2 Corporate Events

Oberon AIM VCT Expands Share Capital With New Equity Issue

Oberon AIM VCT plc has issued 371,058 new ordinary shares at 27.35 pence per share under its ongoing subscription offer, bringing the total number of shares issued under that offer to 2,304,827. The pricing was set with reference to the last reported net asset value of 26.67 pence per share, adjusted to reflect offer costs.

The new shares are expected to be admitted to the FCA’s Official List and start trading on the London Stock Exchange around 13 February 2026, ranking pari passu with existing stock. Following this issuance, the company’s total share capital will rise to 7,443,071 ordinary shares, a new baseline for calculating shareholder voting rights and disclosure thresholds.

The most recent analyst rating on (GB:OVCT) stock is a Hold with a £26.00 price target. To see the full list of analyst forecasts on New Century AIM VCT 2 stock, see the GB:OVCT Stock Forecast page.

Oberon AIM VCT Expands Share Capital with Further Equity Issue

Oberon AIM VCT plc has issued a further 61,955 ordinary shares at 28.25 pence each under its ongoing share offer, taking the total number of shares issued through the offer to 1,933,769 and the company’s overall share capital to 7,072,013 ordinary shares. The new shares, priced by reference to the 31 December 2025 net asset value and adjusted for offer costs, are expected to be admitted to the FCA’s Official List and to trading on the London Stock Exchange around 21 January 2026, after which they will rank pari passu with existing stock; the enlarged share base resets total voting rights for investors assessing disclosure thresholds under UK transparency rules.

The most recent analyst rating on (GB:OVCT) stock is a Hold with a £26.00 price target. To see the full list of analyst forecasts on New Century AIM VCT 2 stock, see the GB:OVCT Stock Forecast page.