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HQH

Abrdn Healthcare Investors

HQH

Abrdn Healthcare Investors • NYSE
$19.53 ▲ 0.21% (+0.04)
Market Cap $1.05 B
52w High $19.69
52w Low $13.77
Dividend Yield 2.19%
P/E 150.23
Volume 88.44K
Outstanding Shares 53.86M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $5.464M ▲ $5.653M ▲ $85.249M ▼ 1.56K% ▼ $1.59 ▼ $0
Q2-2024 $5.305M ▲ $5.336M ▼ $99.697M ▲ 1.879K% ▲ $1.97 ▲ $0
Q4-2023 $4.664M ▼ $5.686M ▼ $-26.828M ▼ -575.223% ▼ $-0.53 ▼ $0
Q2-2023 $5.628M ▲ $5.791M ▲ $83.163M ▲ 1.478K% ▲ $1.72 ▲ $0
Q4-2022 $4.315M $5.748M $-79.181M -1.835K% $-1.64 $0

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $56 ▼ $1.061B ▲ $1.395M ▲ $1.06B ▲
Q2-2024 $14.098K ▲ $1.009B ▲ $1.105M ▼ $1.008B ▲
Q4-2023 $214 ▼ $932.492M ▼ $1.149M ▼ $931.343M ▼
Q2-2023 $1.053K ▲ $990.764M ▲ $11.676M ▲ $979.087M ▲
Q4-2022 $792 $926.275M $9.711M $916.565M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $85.249M ▼ $8.717M ▲ $0 $-8.717M ▼ $0 $8.717M ▲
Q2-2024 $99.697M ▲ $0 $0 $0 $0 $0
Q4-2023 $-26.828M ▼ $0 $0 $0 $0 $0
Q2-2023 $83.163M ▲ $0 $0 $0 $0 $0
Q4-2022 $-79.181M $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement HQH’s results are driven much more by investment gains and losses than by traditional revenue or operating profit. Reported fee and interest income are tiny and steady, while bottom‑line earnings move sharply up or down with market conditions in healthcare and biotech. The most recent couple of years show solid profitability after a notably weak year in between, which likely reflects a downturn in biotech valuations rather than problems with the fund’s structure. Overall, the pattern is one of inherently volatile earnings that track sector performance more than operating efficiency.

Balance Sheet

Balance Sheet The balance sheet looks simple and conservatively positioned. Assets have stayed fairly stable over time, with only modest swings that are typical for an investment portfolio marked to market. Debt is minimal to almost nonexistent, so the fund is not relying on heavy borrowing to amplify returns. Equity closely mirrors total assets, which points to a largely unleveraged structure and a straightforward “own what you own” balance sheet without obvious signs of financial strain.

Cash Flow

Cash Flow The cash flow data reported here are essentially flat, which is common for closed‑end investment funds where traditional operating cash flow and capital spending are not the main story. In practice, HQH’s cash movements come from buying and selling securities and from paying distributions, which are captured more in portfolio activity and net asset value changes than in standard cash flow statements. The key takeaway is that cash dynamics are driven by portfolio management decisions and market conditions, not by factories, inventories, or big capital projects.

Competitive Edge

Competitive Edge HQH competes as a specialized, actively managed healthcare and biotech fund. Its edge comes from a management team that combines scientific and financial backgrounds, a long history in the space, and the closed‑end structure, which lets it take a longer‑term view without worrying about daily investor redemptions. The integration of the former Tekla team into abrdn adds scale, brand strength, and global research resources. The main competitive risks are concentration in a complex, volatile sector and competition from both other specialist managers and lower‑cost passive products, all of which can influence relative performance over time.

Innovation and R&D

Innovation and R&D Innovation for HQH is about how it invests, not about developing products itself. The team leans into cutting‑edge areas like biotech, gene and RNA therapies, and other advanced treatments, using deep scientific expertise to interpret clinical data and regulatory risk. The closed‑end format lets HQH allocate some capital to less liquid or private healthcare companies, giving access to earlier‑stage innovation than many traditional funds. The combination of abrdn’s global platform with Tekla’s specialist knowledge may further broaden the opportunity set, especially in emerging fields like personalized medicine and AI‑enabled drug discovery.

Summary

HQH is essentially a focused healthcare and biotech investment vehicle with a long history and a relatively clean, low‑debt balance sheet. Its financial results are inherently volatile because they track swings in healthcare and biotech markets rather than stable operating revenues. The fund’s strengths lie in its specialist team, long‑term capital base, and ability to reach innovative and sometimes less accessible companies. On the other hand, its fortunes are closely tied to a single, high‑risk sector and to the skill of the managers in navigating scientific, regulatory, and market uncertainty. For anyone evaluating HQH, the key issues are comfort with healthcare and biotech volatility, trust in the management process, and understanding that accounting earnings will naturally move up and down with the cycle in this part of the market.

NEWS

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September 30, 2025 · 5:10 PM UTC

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