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1. Company Snapshot

1.a. Company Description

Hargreaves Lansdown plc provides investment services for individuals and corporates in the United Kingdom and Poland.It primarily operates Vantage, a direct-to-investor platform.The company offers stocks and shares individual savings accounts (ISAs), fund and share accounts, and junior and lifetime ISAs. It also provides pension services, including self-invested personal pensions (SIPP), junior SIPPs, annuities, and drawdown; share dealing services; and fund dealing services.


In addition, the company offers investment accounts; cash savings; foreign currency exchange services; and financial advisory services.Hargreaves Lansdown plc was founded in 1981 and is headquartered in Bristol, the United Kingdom.

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1.b. Last Insights on HL

Hargreaves Lansdown's recent performance has been driven by strong trading activity, with multiple Form 8.3 and Form 8.5 filings indicating significant market interest in the company. The lack of any major negative news or legal issues has also contributed to the company's stability. With no recent earnings release, the focus remains on the company's ongoing operations, which appear to be steady. The repeated Form 8.3 and 8.5 filings suggest a high level of trading activity, which can be a positive indicator for the company's future performance.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Form 8.3 - Direct Line Insurance Group plc

Mar -24

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Form 8.5 (EPT/NON-RI) - Hargreaves Lansdown PLC

Mar -24

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Form 8.3 - Direct Line Insurance Group plc

Mar -21

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Form 8.3 - Direct Line Insurance Group plc

Mar -20

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Form 8.5 (EPT/NON-RI) - Hargreaves Lansdown PLC

Mar -20

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Form 8.3 - Direct Line Insurance Group plc

Mar -19

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Form 8.5 (EPT/NON-RI) - Hargreaves Lansdown PLC

Mar -19

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Form 8.3 - Direct Line Insurance Group plc

Mar -18

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.51%)

6. Segments

Greens Creek

Expected Growth: 4.5%

Increasing silver and gold prices, coupled with Hecla Mining's efforts to optimize operations and reduce costs, are expected to drive growth at Greens Creek mine, a significant holding in Hargreaves Lansdown plc's portfolio.

Casa Berardi

Expected Growth: 4.5%

The gold mining industry is driven by increasing demand for gold as a safe-haven asset, central banks' gold reserves accumulation, and rising jewelry demand in Asia. Casa Berardi's location in Quebec, Canada, provides access to a mining-friendly jurisdiction with low geopolitical risk, supporting Hecla Mining's operations.

Lucky Friday

Expected Growth: 4.5%

Regular investments through Lucky Friday plan from Hargreaves Lansdown plc will benefit from rupee-cost averaging, reducing market volatility risks. Steady investments will lead to a compounded growth rate, driven by consistent investor behavior and a long-term investment horizon.

Keno Hill

Expected Growth: 4.5%

Growing demand for silver, lead, and zinc, driven by increasing adoption in renewable energy technologies, electric vehicles, and infrastructure development, is expected to boost Metallic Minerals Corp.'s Keno Hill project in the Yukon, Canada.

Other

Expected Growth: 5.5%

The 'Other' segment is expected to grow driven by increasing demand for third-party administration services, rising interest rates boosting interest income, and diversification of revenue streams.

Nevada Operations

Expected Growth: 7.2%

Nevada's growing population, increasing demand for investment management services, and Hargreaves Lansdown's established brand presence drive growth in the region.

7. Detailed Products

Stocks and Shares ISA

A tax-efficient way to invest in stocks and shares, with no capital gains tax or income tax on profits.

SIPP (Self-Invested Personal Pension)

A pension scheme that allows individuals to manage their own investments and make decisions about their retirement savings.

Funds

A range of investment funds managed by Hargreaves Lansdown, covering various asset classes and investment styles.

Shares

The ability to buy and sell individual company shares, with access to a wide range of UK and international markets.

Bonds

Government and corporate bonds offering a fixed income stream and relatively low-risk investment.

Exchange-Traded Funds (ETFs)

A type of investment fund that tracks a particular market index, commodity, or sector.

Multi-Manager Funds

Funds that combine the expertise of multiple fund managers to provide a diversified investment portfolio.

Portfolio Management Service

A bespoke investment management service, where a dedicated investment manager creates a tailored portfolio.

8. Hargreaves Lansdown plc's Porter Forces

Forces Ranking

Threat Of Substitutes

Hargreaves Lansdown plc operates in a highly competitive industry, but its strong brand recognition and customer loyalty mitigate the threat of substitutes.

Bargaining Power Of Customers

Hargreaves Lansdown plc's customers have significant bargaining power due to the ease of switching to competitors, which puts pressure on the company to maintain competitive pricing and services.

Bargaining Power Of Suppliers

Hargreaves Lansdown plc has a diversified supplier base, which reduces the bargaining power of individual suppliers, allowing the company to negotiate favorable terms.

Threat Of New Entrants

While there are barriers to entry in the financial services industry, new entrants can still disrupt the market, and Hargreaves Lansdown plc must continue to innovate to stay competitive.

Intensity Of Rivalry

The financial services industry is highly competitive, with many established players and new entrants vying for market share, which increases the intensity of rivalry for Hargreaves Lansdown plc.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 1.69%
Debt Cost 4.08%
Equity Weight 98.31%
Equity Cost 6.76%
WACC 6.72%
Leverage 1.72%

11. Quality Control: Hargreaves Lansdown plc passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Julius Bär

A-Score: 6.4/10

Value: 6.4

Growth: 6.4

Quality: 6.0

Yield: 8.1

Momentum: 5.0

Volatility: 6.7

1-Year Total Return ->

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Stock-Card
Rathbones

A-Score: 6.3/10

Value: 6.5

Growth: 4.3

Quality: 7.2

Yield: 7.5

Momentum: 4.0

Volatility: 8.0

1-Year Total Return ->

View Full Report
Stock-Card
Hargreaves Lansdown

A-Score: 5.1/10

Value: 3.3

Growth: 5.1

Quality: 9.4

Yield: 1.9

Momentum: 5.0

Volatility: 6.0

1-Year Total Return ->

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Stock-Card
L E Lundbergföretagen

A-Score: 4.7/10

Value: 3.7

Growth: 4.1

Quality: 6.2

Yield: 1.2

Momentum: 3.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Latour

A-Score: 4.6/10

Value: 1.4

Growth: 7.3

Quality: 6.4

Yield: 3.1

Momentum: 1.5

Volatility: 8.0

1-Year Total Return ->

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Stock-Card
Alba

A-Score: 3.9/10

Value: 3.4

Growth: 1.6

Quality: 6.5

Yield: 1.9

Momentum: 10.0

Volatility: 0.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

11.08$

Current Price

11.09$

Potential

-0.00%

Expected Cash-Flows