Investment research on quoted companies and funds

Hardman & Co

Hardman & Co is a multi-disciplinary financial consultancy and investment research firm, employing highly experienced analysts and professionals with a broad range of capital markets expertise. Our clients are public and private businesses as well as fund managers, ranging from start-ups to £1 billion+ market capitalisations. Hardman & Co offers corporate research & consultancy, serving the needs of both public and private companies. We produce gold-standard research with a global reach for trading and investment companies, as well as providing market commentary and analysis. In addition, we carry out a number of bespoke investment-related assignments, including due diligence on bond listings, assessments of private company valuations and other corporate advisory services. We engage with the market through traditional and digital media, offering illuminating video content on corporate management strategy, results communication, interviews and in-house sector discussion.

Research from Hardman & Co, Hardman & Co

Research from Hardman & Co

Equity Bottom-Up

<ul>
<li>DUKE’s unique product provides SMEs across diversified sectors with hybrid capital, allowing the existing team to retain control.</li>
<li>By optimising the best of equity and debt, DUKE aims to achieve equity-type returns with debt levels of risk.</li>
<li>The loan and participating preference share elements support DUKE shareholders’ high (2024E: 9.0%), growing (2026E: 7% above 2024), and covered dividend.</li>
</ul>


DUKE’s unique product provides SMEs across diversified sectors with hybrid capital, allowing the existing team to retain control.
By optimising the best of equity and debt, DUKE aims to achieve equity-type returns with debt levels of risk.
The loan and participating preference share elements support DUKE shareholders’ high (2024E: 9.0%), growing (2026E: 7% above 2024), and covered dividend.


Initiation of Coverage: Duke Capital (DUKE): Meeting customer needs, giving investors returns