Financials Bellway p.l.c. OTC Markets

Equities

BLWYY

US0798901098

Homebuilding

Market Closed - OTC Markets Other stock markets 10:55:01 2024-05-07 EDT			5-day change	1st Jan Change
31.39 ^USD	-9.01%		0.00%	+25.81%

05-10	UBS raises Trainline, cuts Kingspan	AN
05-01	Bellway p.l.c. Appoints Cecily Davis as Independent Non-Executive Director and as Member of the Audit, Nomination, Sustainability and Remuneration Committees, Effect from 1 May 2024	CI

Valuation

Fiscal Period: July	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,656	3,139	4,049	3,012	2,664	3,317	-	-
Enterprise Value (EV) ¹	3,455	3,138	3,719	2,767	2,432	3,106	3,117	3,107
P/E ratio	6.81 x	16.3 x	10.4 x	12.5 x	7.48 x	24.8 x	18.2 x	13.5 x
Yield	5.06%	1.96%	3.58%	5.72%	6.32%	1.71%	2.24%	2.93%
Capitalization / Revenue	1.14 x	1.41 x	1.3 x	0.85 x	0.78 x	1.48 x	1.32 x	1.17 x
EV / Revenue	1.08 x	1.41 x	1.19 x	0.78 x	0.71 x	1.39 x	1.24 x	1.09 x
EV / EBITDA	5.08 x	9.57 x	6.91 x	4.2 x	4.42 x	13.9 x	11.1 x	8.41 x
EV / FCF	12 x	-47.4 x	8.66 x	24.3 x	10.4 x	61.8 x	23.7 x	27.1 x
FCF Yield	8.3%	-2.11%	11.5%	4.12%	9.6%	1.62%	4.21%	3.69%
Price to Book	1.25 x	1.05 x	1.23 x	0.9 x	0.77 x	0.98 x	0.95 x	0.93 x
Nbr of stocks (in thousands)	123,113	123,288	123,366	123,152	120,231	118,646	-	-
Reference price ²	29.70	25.46	32.82	24.46	22.16	27.96	27.96	27.96
Announcement Date	19-10-15	20-10-20	21-10-19	22-10-18	23-10-17	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: July	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,213	2,225	3,122	3,537	3,407	2,234	2,522	2,846
EBITDA ¹	680.7	328	538	659.3	549.9	223.6	281.5	369.6
EBIT ¹	674.9	321.7	531.5	653.2	543.9	214	274.7	358.8
Operating Margin	21%	14.46%	17.02%	18.47%	15.97%	9.58%	10.89%	12.61%
Earnings before Tax (EBT) ¹	662.6	236.7	479	309	483	184.5	254.8	328
Net income ¹	538.6	192.9	390.7	242.6	365	132	179.6	238.3
Net margin	16.76%	8.67%	12.51%	6.86%	10.71%	5.91%	7.12%	8.37%
EPS ²	4.364	1.561	3.158	1.962	2.963	1.126	1.532	2.068
Free Cash Flow ¹	286.8	-66.2	429.2	114.1	233.5	50.27	131.3	114.7
FCF margin	8.93%	-2.97%	13.75%	3.23%	6.85%	2.25%	5.2%	4.03%
FCF Conversion (EBITDA)	42.14%	-	79.78%	17.31%	42.46%	22.49%	46.63%	31.03%
FCF Conversion (Net income)	53.25%	-	109.85%	47.03%	63.97%	38.07%	73.1%	48.12%
Dividend per Share ²	1.504	0.5000	1.175	1.400	1.400	0.4777	0.6257	0.8195
Announcement Date	19-10-15	20-10-20	21-10-19	22-10-18	23-10-17	-	-	-

¹GBP in Million²GBP

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: July	2020 S1
Net sales ¹	1,541
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income	-
Net margin	-
EPS	-
Dividend per Share	-
Announcement Date	20-03-25

¹GBP in Million

Estimates

Balance Sheet Analysis

Fiscal Period: July	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	201	1.4	330	245	232	211	200	210
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	287	-66.2	429	114	234	50.3	131	115
ROE (net income / shareholders' equity)	19.7%	6.52%	12.4%	15.4%	11.7%	4.05%	5.27%	6.98%
ROA (Net income/ Total Assets)	14.5%	4.84%	8.92%	10.7%	7.96%	2.82%	3.82%	4.84%
Assets ¹	3,717	3,987	4,380	2,260	4,583	4,678	4,695	4,928
Book Value Per Share ²	23.70	24.30	26.60	27.30	28.70	28.50	29.30	30.20
Cash Flow per Share ²	2.370	-0.4700	3.500	0.9300	1.920	1.220	2.580	-
Capex ¹	5.13	8.3	3.3	0.5	2.7	3.92	4.5	5.76
Capex / Sales	0.16%	0.37%	0.11%	0.01%	0.08%	0.18%	0.18%	0.2%
Announcement Date	19-10-15	20-10-20	21-10-19	22-10-18	23-10-17	-	-	-

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

Ratings for Bellway p.l.c.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

27.96 GBP

Average target price

30.05 GBP

Spread / Average Target

+7.46%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Other Homebuilding

	1st Jan change	Capi.
DR HORTON	-0.32%	49.72B
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SEKISUI HOUSE, LTD.	+13.15%	14.92B
TOLL BROTHERS, INC.	+27.19%	13.66B
SUMITOMO FORESTRY CO., LTD.	+40.49%	7.89B
THE BERKELEY GROUP HOLDINGS PLC	+13.27%	7.13B
TAYLOR WIMPEY PLC	+1.56%	6.68B
BARRATT DEVELOPMENTS PLC	-6.79%	6.38B
TAYLOR MORRISON HOME CORPORATION	+12.69%	6.36B

Other Homebuilding