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CQS New City High Yield Fund Limited
NCYF.L: LSELowest reading is at 32 out of 100. All scores are out of 100.
In Short
About The Company
Market Cap
367.45 Million GBp
Sector
Financial Services
Website
https://www.ncim.co.uk/nc_main2.phpLast Update
28/09/2026, 03:25:26
Description
CQS New City High Yield Fund Limited is a close ended fixed income mutual fund launched by CQS Asset Management Ltd.
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Strongest readings
- ✔Debt is low at 0.12 times equity
- ✔Dividend growth averages 8.55% per year
- ✔Cashflow and earnings growth is strong (growth score 67 out of 100)
- ✔Price-to-earnings of 11.5 is below the market average of 19.6
Weakest readings
- ✘Share count has been rising at 7.92% per year
- ✘Income is not covering expenditure and investment (free cashflow -0.02 per share)
- ✘A high share of income is paid out as dividend (101.17%)
- ✘The current price sits above estimated fair value (margin of safety -8.78%)
Key Figures
| Status | Metric | Value | Reading | Market avg |
|---|---|---|---|---|
| ✔ | Price / earnings (TTM) | 11.55x | 19.60x | |
| ✘ | Margin of safety (DCF) | -8.78% | 17.95% | |
| ✔ | Revenue growth (5y average) | 61.29% | 10.97% | |
| ✔ | Dividend yield (TTM) | 7.95% | 1.85% | |
| ✘ | Share count, per year | 7.92% | 0.00% | |
| Return on capital employed | N/A | 10.00% |
The bar shows how good a reading is, so a longer bar is always better. The tick marks the benchmark.
Valuation
32 / 100Priced above the market on most measures.
| Status | Metric | Value | Reading | Market avg |
|---|---|---|---|---|
| ✔ | Price / earnings | 11.55x | 19.60x | |
| ✘ | Free cashflow yield | -3.21% | 4.70% | |
| Price / earnings growth | N/A | 1.50x | ||
| Price / book | 109.62x | — | ||
| ✘ | Margin of safety | -8.78% | 17.95% |
The bar shows how good a reading is, so a longer bar is always better. The tick marks the benchmark.
- ✘Estimated intrinsic value of 46.25 GBp is below the current price of 50.70 GBp
Desired Margin Of Safety
0%
▼
Tip: Set your desired Margin Of Safety
Free Cash Flow Type
Annual Cashflow Growth
0%
Discount Rate
0%
Estimated Fair Value: 0.9 GBp ✘
Current Price: 50.7 GBp
How Does This Work?
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This calculator helps investors estimate the Intrinsic Value of a company based on the current value of future cash flows. To use the tool, simply input a desired Margin Of Safety, which is an additional discount applied to the present value of the expected future cash flows. The tool calculates the present value using a discount rate that reflects the risk and time value of money, and provides an estimated fair value for the company based on the selected margin of safety. The calculator defaults to using 5 Year Free Cash Flow Growth % and a discount rate based on the US 10-year treasury bond coupon rate. Use our performance analyser to get a feel for the impact this has on longterm investment returns and find a margin of safety you are comfortable with.
Growth
67 / 100Growing faster than the market on most measures.
| Status | Metric | Value | Reading | Market avg |
|---|---|---|---|---|
| ✔ | Revenue growth | 61.29% | 10.97% | |
| ✘ | Earnings growth | -26.44% | 14.48% | |
| ✔ | Cashflow growth | 103183.33% | 12.35% |
The bar shows how good a reading is, so a longer bar is always better. The tick marks the benchmark.
Health
not enough dataNot enough of the underlying data is reported to score this section.
Measured on Leverage and capital, Funding and liquidity, Earnings quality.
| Status | Metric | Value | Reading | Threshold |
|---|---|---|---|---|
| ✔ | Debt / equity | 0.12x | 0.80x | |
| ✔ | Debt / total capital | 0.11x | 1.00x | |
| Equity / assets | 89.17% | — | ||
| ✘ | Debt / free cashflow | 0.00x | 0.15x | |
| Interest coverage | N/A | 2.50x |
The bar shows how good a reading is, so a longer bar is always better. The tick marks the benchmark.
- ✘Income is not covering expenditure and investment (free cashflow -0.02 per share)
Dividend
63 / 100Covered, with limited headroom.
| Status | Metric | Value | Reading | Market avg |
|---|---|---|---|---|
| ✔ | Dividend yield | 7.95% | 1.85% | |
| ✔ | Dividend growth | 13.53% | 0.00% | |
| ✘ | Payout ratio (earnings) | 101.17% | 40.00% | |
| ✔ | Payout ratio (cashflow) | -247.95% | 65.00% | |
| Worst year, last 5 years | N/A | -2.00% |
The bar shows how good a reading is, so a longer bar is always better. The tick marks the benchmark.
- ✔Dividend growth has been accelerating recently
Management
36 / 100Returns on capital are below the market.
| Status | Metric | Value | Reading | Market avg |
|---|---|---|---|---|
| ✘ | Return on equity | 8.61% | 15.00% | |
| Return on capital employed | N/A | 10.00% | ||
| Return on assets | 7.68% | — | ||
| Free cashflow return on capital | -3.14% | — | ||
| Return on capital, 5y change | N/A | 0.00% | ||
| ✘ | Share count, per year | 7.92% | 0.00% | |
| Share count, recent | N/A | 0.00% | ||
| Realized buyback return | N/A | 0.00% | ||
| ✔ | Goodwill erosion / equity | 0.00% | 2.00% | |
| Price volatility, 5 year | 14.08% | — |
The bar shows how good a reading is, so a longer bar is always better. The tick marks the benchmark.
- ✔New shares were issued while the value score was 32 out of 100
- ✘Dividends were raised while earnings fell (dividend 8.55% per year, earnings -26.44% per year)
Analysts
not enough data| Status | Metric | Value | Reading | Neutral |
|---|---|---|---|---|
| Analyst opinion score | N/A | 50 |
The bar shows how good a reading is, so a longer bar is always better. The tick marks the benchmark.
Financial History
Annual figures across the full reporting history we hold.
Market Peers
NCYF.L
SEC Filings
Find yearly (10-K), quaterly (10-Q) and disclosure (8-K) report here, on the Securities and Exchange Commission's EDGAR database. If reading through reports isn't your cup of tea, don't worry. We've made it easy for you by summarizing all the important bits.
See 35+ Years Annual ReportsOther Information
Company Name
CQS New City High Yield Fund Limited
Currency
GBp
Beta
0.078
Vol Avg
2249759
Ceo
Cik
Cusip
Exchange
LSE
Full Time Employees
Industry
Asset Management
Sector
Financial Services
Ipo Date
Address
4th Floor
City
London
State
Country
United Kingdom
Zip
WC2N 5HR
Phone
44 207 201 6900
Analysis Last Updated
28/09/2026, 03:25:26
Financial data compiled from SEC EDGAR filings and Yahoo Finance.