British Land Company PLC

Chart & Performance

D1W1MN

P/E

—

P/S

6.20

EPS

—

Div Yield, %

4.77%

Shrs. gr., 5y

-2.92%

Rev. gr., 5y

-8.65%

Revenues

575m

+11.00%

Net income

-1m

L-99.90%

CFO

409m

+70.42%

Dividend

Jun 21, 20240.17067 USD/sh

Earnings

May 20, 2025

Profile

Our portfolio of high quality UK commercial property is focused on London Offices and Retail around the UK. We own or manage a portfolio valued at £13.7bn (British Land share: £10.3bn) as at 30 September 2020 making us one of Europe's largest listed real estate investment companies. Our strategy is to provide places which meet the needs of our customers and respond to changing lifestyles - Places People Prefer. We do this by creating great environments both inside and outside our buildings and use our scale and placemaking skills to enhance and enliven them. This expands their appeal to a broader range of occupiers, creating enduring demand and driving sustainable, long term performance. Our Offices portfolio comprises three office-led campuses in central London as well as high quality standalone buildings and accounts for 65% of our portfolio. Our Retail portfolio is focused on retail parks and shopping centres, and accounts for 31% of our portfolio. Increasingly our focus is on providing a mix of uses and this is most evident at Canada Water, our 53 acre redevelopment opportunity where we have plans to create a new neighbourhood for London. Sustainability is embedded throughout our business. Our places, which are designed to meet high sustainability standards, become part of local communities, provide opportunities for skills development and employment and promote wellbeing. In April 2016 British Land received the Queen's Award for Enterprise: Sustainable Development, the UK's highest accolade for business success for economic, social and environmental achievements over a period of five years.

URL

https://www.britishland.com/

IPO date

Mar 20, 1951

Employees

647

Domiciled in

Incorporated in

Valuation

Order:

Title GBP in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title GBP in thousands, except ratios and share amounts	2024‑03	2023‑03	2022‑03	2021‑03	2020‑03	2019‑03	2018‑03	2017‑03	2016‑03	2015‑03
Income
Revenues	575,000 11.00%	518,000 25.73%	412,000 -11.97%
Cost of revenue	231,000	185,000	221,000
Unusual Expense (Income)
NOPBT	344,000	333,000	191,000
NOPBT Margin	59.83%	64.29%	46.36%
Operating Taxes	14,000	5,000	(2,000)
Tax Rate	4.07%	1.50%
NOPAT	330,000	328,000	193,000
Net income	(1,000) -99.90%	(1,038,000) -207.79%	963,000 -193.40%
Dividends	(213,000)	(213,000)	(155,000)
Dividend yield	5.81%	5.11%	2.72%
Proceeds from repurchase of equity	1,000
BB yield	-0.03%
Debt
Debt current	16,000	408,000	195,000
Long-term debt	2,450,000	2,052,000	2,547,000
Deferred revenue		77,000	93,000
Other long-term liabilities	56,000	(81,000)	(2,275,000)
Net debt	(176,000)	(65,000)	(19,000)
Cash flow
Cash from operating activities	409,000	240,000	245,000
CAPEX	(312,000)	(209,000)	(259,000)
Cash from investing activities	(172,000)	326,000	(423,000)
Cash from financing activities	(274,000)	(552,000)	98,000
FCF	6,029,000	(5,545,000)	468,000
Balance
Cash	88,000	125,000	111,000
Long term investments	2,554,000	2,400,000	2,650,000
Excess cash	2,613,250	2,499,100	2,740,400
Stockholders' equity	3,776,000	4,004,000	5,460,000
Invested Capital	5,093,750	5,485,900	4,442,600
ROIC	6.24%	6.61%	4.69%
ROCE	4.46%	4.17%	1.99%
EV
Common stock shares outstanding	927,000	1,075,000	1,075,000
Price	3.95 1.91%	3.88 -26.89%	5.30 5.07%
Market cap	3,663,504 -12.12%	4,168,850 -26.89%	5,701,800 5.07%
EV	3,500,504	4,116,850	5,697,800
EBITDA	352,000	336,000	196,000
EV/EBITDA	9.94	12.25	29.07
Interest	107,000	103,000	91,000
Interest/NOPBT	31.10%	30.93%	47.64%