Edison's Latest Report Highlights HgT's Performance in Q3 2026

Edison Investment Research has published a new report on HgT (LSE: HGT), showcasing its financial performance in the third quarter of 2026. HgT recorded a 2.0% increase in NAV total return during this period, following a modest 0.5% rise in the previous quarter. This growth elevated HgT's NAV per share to 539.1p, marking a recovery trend from earlier lows.

The report highlights strong trading results, contributing 5% to the gross portfolio value in Q3, which helped counteract a 2% negative impact from lower comparable multiples. Additionally, HgT's revenue and EBITDA showed substantial annual growth of 15% and 19%, respectively, with organic growth contributing significantly.

The EBITDA margin reported was a robust 35%, despite challenges in software stock valuations. A notable improvement was observed in the average net debt to EBITDA ratio, which decreased to 6.7x from 7.4x by the end of 2025. Overall, the report reflects a mixed yet recovering performance for HgT amid market fluctuations.