NYSE · Asset Management · USD

Highland Funds I - Highland Opportunities and Income Fund (HFRO) Stock Analysis

Highland Funds I - Highland Opportunities and Income Fund (HFRO) is a Asset Management stock listed on NYSE and quoted in US Dollar.

HFRO

$7.41

+$0.12 (+1.65%)

Sep 4, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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HFRO Key Statistics

As of Sep 4, 2026

Trading

Open: $7.29
Previous Close: $7.29
Day's Range: 7.29–7.74
52-Week Range: 5.47–7.73
Volume: 163.20K

Valuation

Market Cap: $409.17M
P/E Ratio: unprofitable
EPS (ttm): −0.50

Financials (FY)

Revenue (FY): −$5.59M
Net Income (FY): −$14.69M
Profit margin: 0.00%
Shares Outstanding: 55.22M
1-Year Return: +28.47%

Dividend and dates

Dividend: $0.46+6.34%
Ex-Dividend Date: September 23, 2026
Avg Volume: 153.22K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

HFRO Stock Return by Calendar Year

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

−27.10%+29.30%

2017*201820192020202120222023202420252026*

Year	Return
2026 (partial year)	+29.30%
2025	+25.21%
2024	−27.10%
2023	−16.97%
2022	+1.71%
2021	+16.33%
2020	−8.42%
2019	+4.22%
2018	−12.30%
2017 (partial year)	+1.01%

As of September 4, 2026.

HFRO Revenue and Earnings by Fiscal Year

FY ends December

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	−$5.59M	−$14.69M	262.7%
2024	−$23.81M	−$29.47M	123.8%
2023	−$1.01M	−$6.29M	621.5%
2022	$44.54M	$38.70M	86.9%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	−$5.59M	—	—	−$14.69M	262.7%
2024	−$23.81M	—	—	−$29.47M	123.8%
2023	−$1.01M	—	—	−$6.29M	621.5%
2022	$44.54M	—	—	$38.70M	86.9%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

HFRO Dividend History

’17’18’19’20’21’22’23’24’25’26*

$0.47+0.0% vs 2024

Dividends per share, 2025 · 12 payments

Year	Dividends per share	Payments	Change
2026*	$0.31	8	—
2025	$0.47	12	+0.0%
2024	$0.47	12	−49.4%
2023	$0.92	12	+0.0%

Year	Dividends per share	Payments	Change
2026 (partial year)	$0.31	8	—
2025	$0.47	12	+0.0%
2024	$0.47	12	−49.4%
2023	$0.92	12	+0.0%
2022	$0.92	12	+0.0%
2021	$0.92	12	+0.0%
2020	$0.92	12	+0.0%
2019	$0.92	12	+0.0%
2018	$0.92	12	+500.0%
2017	$0.15	2	—

Most recent payment: $0.04 per share, ex-dividend August 24, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

HFRO Valuation vs Asset Management Median

Median of 561 stocks

Metric	HFRO	Asset Management median	vs median
Profit margin	0.00%	24.09%	24.1 pts below

Medians across 561 Asset Management stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of September 4, 2026.

Analysis

Data-derived

Company Overview

The market values Highland Funds I - Highland Opportunities and Income Fund (HFRO) at $409.17M. It is classified in the Asset Management industry, within the Financial Services sector.

Over the past 52 weeks the price has ranged from $5.47 to $7.73. HFRO last closed at $7.41 on September 4, 2026. That is +$0.12 (+1.65%) against the previous close. The latest close sits 35.47% above that 52-week low.

Financial Health

In fiscal 2025, Highland Funds I - Highland Opportunities and Income Fund reported revenue of −$5.59M. The same year closed with a net loss of $14.69M. The reported profit margin is 0%. That is 24.1 percentage points below the Asset Management median of 24.09%. Trailing earnings per share are −0.5.

Across the 4 fiscal years on file, revenue moves from $44.54M in 2022 to −$5.59M in 2025. Of those 4 years, 1 report positive net income.

Valuation Assessment

The record shows negative trailing earnings, so no price-to-earnings ratio is published.

The trailing one-year price return is +28.47%. Measured over 5 years, that is +0.71% a year compounded. Daily returns over the trailing 8 years annualize to a volatility of 23.4%.

Growth & Income

HFRO pays a dividend yielding 6.34%. That is 1.8 percentage points below the Asset Management median yield of 8.11%. The indicated annual rate is $0.46 a share. The ex-dividend date on file is September 23, 2026. Dividends are recorded for 10 calendar years; 2026 shows 8 payments totalling $0.31 a share. The year before, 2025, totalled $0.47 a share.

Across the complete calendar years on file, 2025 returned +25.21% and 2024 returned −27.10%. Of the 8 complete calendar years on file, 4 finished higher. So far in 2026 the price is +29.30%.

Peer Comparison

Highland Funds I - Highland Opportunities and Income Fund (HFRO) operates in the Asset Management industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
Highland Funds I - Highland Opportunities and Income Fund	HFRO	$409.17M	—
BlackRock, Inc.	BLK	$182.35B	26.9
Blackstone Inc.	BX	$162.74B	30.5
KKR & Co. Inc.	KKR	$99.50B	34.4

The Asset Management industry average P/E ratio is 10.3x. Highland Funds I - Highland Opportunities and Income Fund has no P/E ratio because it is not currently profitable.

Every figure above is read from this page's own data on each nightly rebuild. Informational only, not financial advice. As of September 4, 2026.

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About Highland Funds I - Highland Opportunities and Income Fund

Highland Funds I - Highland Opportunities and Income Fund is a close-ended fixed income mutual fund launched by Highland Capital Management, L.P. It is managed by Highland Capital Management Fund Advisors, L.P. The fund invests in fixed income markets of countries across the globe. It primarily invests in floating rate loans and other securities deemed to be floating rate investments, with an emphasis on adjustable rate senior loans to corporations and partnerships. The fund seeks to invest in below investment grade securities. It also invests through derivatives. The fund benchmarks the performance of its portfolio against the Credit Suisse Leveraged Loan Index. It was formerly known as Highland Funds I - Highland Income Fund. Highland Funds I - Highland Opportunities and Income Fund was formed on January 13, 2000 and is domiciled in the United States.

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