AMEX:FCO

Stock Analysis Report

Executive Summary

Aberdeen Global Income Fund, Inc. is a closed-ended fixed income mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited.

Rewards


Snowflake Analysis

Share Price & News

How has Aberdeen Global Income Fund's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FCO's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.8%

FCO

-1.2%

US Capital Markets

-1.1%

US Market


1 Year Return

-35.3%

FCO

-16.0%

US Capital Markets

-13.6%

US Market

Return vs Industry: FCO underperformed the US Capital Markets industry which returned -16% over the past year.

Return vs Market: FCO underperformed the US Market which returned -13.6% over the past year.


Shareholder returns

FCOIndustryMarket
7 Day-1.8%-1.2%-1.1%
30 Day-30.5%-20.4%-17.8%
90 Day-32.9%-25.8%-22.5%
1 Year-27.8%-35.3%-14.3%-16.0%-11.9%-13.6%
3 Year-14.3%-37.0%5.3%-0.9%12.1%4.9%
5 Year-6.1%-43.7%29.2%17.0%30.5%16.3%

Price Volatility Vs. Market

How volatile is Aberdeen Global Income Fund's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Aberdeen Global Income Fund undervalued compared to its fair value and its price relative to the market?

7.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FCO ($5.32) is trading below our estimate of fair value ($5.72)

Significantly Below Fair Value: FCO is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: FCO is good value based on its PE Ratio (7.8x) compared to the Capital Markets industry average (33x).

PE vs Market: FCO is good value based on its PE Ratio (7.8x) compared to the US market (12.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FCO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FCO is good value based on its PB Ratio (0.7x) compared to the US Capital Markets industry average (7.8x).

Future Growth

How is Aberdeen Global Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

5.8%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Aberdeen Global Income Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Aberdeen Global Income Fund performed over the past 5 years?

38.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FCO has a large one-off gain of $5.8M impacting its October 31 2019 financial results.

Growing Profit Margin: FCO became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: FCO has become profitable over the past 5 years, growing earnings by 38% per year.

Accelerating Growth: FCO has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: FCO has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (9.7%).


Return on Equity

High ROE: FCO's Return on Equity (8.7%) is considered low.

Financial Health

How is Aberdeen Global Income Fund's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: FCO has a low level of unsold assets or inventory.

Debt Coverage by Assets: FCO's debt is not covered by short term assets (assets are 0.2x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: FCO is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: FCO is profitable, therefore cash runway is not a concern.


Financial Institutions Analysis

Asset Level: FCO's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if FCO has a sufficient allowance for bad loans.

Low Risk Liabilities: FCO reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if FCO has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FCO has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if FCO has an appropriate level of bad loans.

Dividend

What is Aberdeen Global Income Fund's current dividend yield, its reliability and sustainability?

15.79%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FCO's dividend (15.79%) is higher than the bottom 25% of dividend payers in the US market (2%).

High Dividend: FCO's dividend (15.79%) is in the top 25% of dividend payers in the US market (5.56%)


Stability and Growth of Payments

Stable Dividend: FCO's dividends per share have been stable in the past 10 years.

Growing Dividend: FCO's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (122.7%), FCO's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?

24.8yrs

Average board tenure


CEO

Aberdeen Global Income Fund has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
Martin Gilbert
VP, Interested Director19.25yrsno datano data
Neville Miles
Independent Director21.25yrsUS$34.46kno data
William Potter
Independent Director28.25yrsUS$41.84kno data
Peter Sacks
Independent Director28.25yrsUS$38.53kno data
John Sheehy
Independent Director28.25yrsUS$48.50kno data
P. Malone
Chairman15.25yrsUS$59.48kno data

24.8yrs

Average Tenure

72yo

Average Age

Experienced Board: FCO's board of directors are seasoned and experienced ( 24.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Aberdeen Global Income Fund, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Aberdeen Global Income Fund, Inc.
  • Ticker: FCO
  • Exchange: AMEX
  • Founded: 1991
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: US$46.416m
  • Shares outstanding: 8.72m
  • Website: https://www.aberdeenfco.com

Location

  • Aberdeen Global Income Fund, Inc.
  • Bow Bells House
  • 1 Bread Street
  • London
  • Greater London
  • EC4M 9HH
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FCOAMEX (NYSE MKT LLC)YesCommon SharesUSUSDMar 1992

Biography

Aberdeen Global Income Fund, Inc. is a closed-ended fixed income mutual fund launched and managed by Aberdeen Standard Investments (Asia) Limited. It is co-managed by Aberdeen Standard Investments Australia Limited and Aberdeen Asset Managers Limited. The fund invests in fixed income markets across the globe. It primarily invests in fixed-income securities denominated in the Commonwealth currencies and global debt securities. The fund benchmarks the performance of its portfolio against a composite index comprised of 20% Bank of America Merrill Lynch Australian Government Bonds Index, 20% Bank of America Merrill Lynch UK Government Bonds Index, 15% Bank of America Merrill Lynch Canadian Government Bonds Index, 15% Bank of America Merrill Lynch New Zealand Government Bonds Index, and 30% Bank of America Merrill Lynch Global Emerging Markets Index. Aberdeen Global Income Fund, Inc. was formed on June 28, 1991 and is domiciled in the United States. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/02 01:53
End of Day Share Price2020/04/01 00:00
Earnings2019/10/31
Annual Earnings2019/10/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.