LAND SECURITIES GROUP PLC |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 654 GBX | +2.19% |
|
+3.07% | -7.21% |
| Apr. 12 | JPMorgan raises Taylor Wimpey, Persimmon | AN |
| Mar. 28 | UK landlords bet on green offices as hybrid work makes tenants picky | RE |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 6,762 | 4,123 | 5,110 | 5,816 | 4,606 | 4,387 | - | - |
| Enterprise Value (EV) 1 | 10,493 | 8,101 | 8,626 | 9,976 | 7,954 | 7,783 | 7,918 | 8,060 |
| P/E ratio | -56.7 x | -4.95 x | -3.67 x | 6.71 x | -7.43 x | -13.3 x | 16.8 x | 8.75 x |
| Yield | 4.99% | 4.17% | 3.91% | 4.71% | 6.21% | 6.05% | 6.16% | 6.27% |
| Capitalization / Revenue | 10 x | 6.13 x | 8.93 x | 9.92 x | 7.12 x | 6.77 x | 6.99 x | 6.92 x |
| EV / Revenue | 15.5 x | 12.1 x | 15.1 x | 17 x | 12.3 x | 12 x | 12.6 x | 12.7 x |
| EV / EBITDA | 19.5 x | 15.9 x | 26.5 x | 23.4 x | 16.7 x | 16.6 x | 17 x | 17.2 x |
| EV / FCF | 45.8 x | 35.4 x | 15.8 x | 64.4 x | 6.34 x | 128 x | 112 x | 97.7 x |
| FCF Yield | 2.18% | 2.83% | 6.34% | 1.55% | 15.8% | 0.78% | 0.9% | 1.02% |
| Price to Book | 0.68 x | 0.47 x | 0.71 x | 0.74 x | 0.67 x | 0.78 x | 0.77 x | 0.73 x |
| Nbr of stocks (in thousands) | 740,284 | 740,393 | 740,516 | 740,263 | 741,542 | 670,734 | - | - |
| Reference price 2 | 9.134 | 5.568 | 6.901 | 7.856 | 6.212 | 6.540 | 6.540 | 6.540 |
| Announcement Date | 5/14/19 | 5/12/20 | 5/18/21 | 5/17/22 | 5/16/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 676 | 672 | 572 | 586 | 647 | 648.2 | 627.6 | 633.7 |
| EBITDA 1 | 537 | 509 | 325 | 426 | 477 | 468.6 | 464.5 | 467.6 |
| EBIT 1 | 486 | 509 | 303 | 416 | 466 | 459 | 468.2 | 477 |
| Operating Margin | 71.89% | 75.74% | 52.97% | 70.99% | 72.02% | 70.81% | 74.59% | 75.27% |
| Earnings before Tax (EBT) 1 | -123 | -837 | -1,393 | 875 | -622 | -329.4 | 306.6 | 564.6 |
| Net income 1 | -119 | -832 | -1,393 | 869 | -619 | -333.1 | 288.8 | 493 |
| Net margin | -17.6% | -123.81% | -243.53% | 148.29% | -95.67% | -51.39% | 46.02% | 77.79% |
| EPS 2 | -0.1610 | -1.124 | -1.882 | 1.171 | -0.8360 | -0.4908 | 0.3897 | 0.7477 |
| Free Cash Flow 1 | 229 | 229 | 547 | 155 | 1,254 | 61 | 71 | 82.5 |
| FCF margin | 33.88% | 34.08% | 95.63% | 26.45% | 193.82% | 9.41% | 11.31% | 13.02% |
| FCF Conversion (EBITDA) | 42.64% | 44.99% | 168.31% | 36.38% | 262.89% | 13.02% | 15.28% | 17.65% |
| FCF Conversion (Net income) | - | - | - | 17.84% | - | - | 24.58% | 16.74% |
| Dividend per Share 2 | 0.4555 | 0.2320 | 0.2700 | 0.3700 | 0.3860 | 0.3958 | 0.4031 | 0.4103 |
| Announcement Date | 5/14/19 | 5/12/20 | 5/18/21 | 5/17/22 | 5/16/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: März | 2020 S1 | 2021 S1 | 2021 S2 | 2022 Q1 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 | 2024 S2 | 2025 S1 | 2025 S2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 332 | - | 308 | - | - | - | - | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 274 | - | - | - | 209 | 207 | 231 | 235 | 238 | 227 | 235.8 | 231 |
| Operating Margin | 82.53% | - | - | - | - | - | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | -145 | - | - | - | - | - | - | - | - | - | - | - |
| Net margin | -43.67% | - | - | - | - | - | - | - | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share 1 | 0.2320 | 0.1200 | - | 0.0800 | 0.1550 | - | 0.1760 | - | 0.1820 | - | - | - |
| Announcement Date | 11/12/19 | 11/10/20 | 5/18/21 | 8/16/21 | 11/16/21 | 5/17/22 | 11/15/22 | 5/16/23 | 11/14/23 | - | - | - |
1GBP
Estimates
Balance Sheet Analysis
| Fiscal Period: März | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,731 | 3,978 | 3,516 | 4,160 | 3,348 | 3,397 | 3,532 | 3,674 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 6.948 x | 7.815 x | 10.82 x | 9.765 x | 7.019 x | 7.249 x | 7.603 x | 7.857 x |
| Free Cash Flow 1 | 229 | 229 | 547 | 155 | 1,254 | 61 | 71 | 82.5 |
| ROE (net income / shareholders' equity) | 4.35% | 4.43% | 3.15% | 4.69% | 5.27% | 5.5% | 5.85% | 5.87% |
| ROA (Net income/ Total Assets) | 3.1% | 2.92% | 1.98% | 2.97% | 3.29% | 3.51% | 3.68% | 3.6% |
| Assets 1 | -3,837 | -28,531 | -70,343 | 29,230 | -18,815 | -9,501 | 7,859 | 13,709 |
| Book Value Per Share 2 | 13.40 | 11.80 | 9.730 | 10.70 | 9.330 | 8.390 | 8.540 | 9.000 |
| Cash Flow per Share 2 | 0.5700 | 0.5400 | 0.3100 | 0.5100 | 0.4600 | -0.1200 | -0.1400 | -0.1400 |
| Capex 1 | 195 | 172 | 177 | 344 | 355 | 208 | 343 | 431 |
| Capex / Sales | 28.85% | 25.6% | 30.94% | 58.7% | 54.87% | 32.07% | 54.66% | 68.07% |
| Announcement Date | 5/14/19 | 5/12/20 | 5/18/21 | 5/17/22 | 5/16/23 | - | - | - |
1GBP in Million2GBP
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
A
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
6.54
GBP
Average target price
7.106
GBP
Spread / Average Target
+8.65%
EPS Revisions
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -7.21% | 5.46B | |
| -15.09% | 12.04B | |
| -13.53% | 7.51B | |
| -1.91% | 5.28B | |
| -11.21% | 5.15B | |
| -9.21% | 4.49B | |
| +0.51% | 4.5B | |
| -1.70% | 4.54B | |
| +3.97% | 3.86B | |
| -15.40% | 3.1B |
- Stock Market
- Equities
- LAND Stock
- Financials Land Securities Group Plc
