Financials Land Securities Group Plc

Equities

LAND

GB00BYW0PQ60

Diversified REITs

Market Closed - London S.E. 11:35:06 2024-05-03 EDT 5-day change 1st Jan Change
667 GBX +1.44% Intraday chart for Land Securities Group Plc +1.99% -5.36%

Valuation

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 6,762 4,123 5,110 5,816 4,606 4,474 - -
Enterprise Value (EV) 1 10,493 8,101 8,626 9,976 7,954 7,883 7,996 8,105
P/E ratio -56.7 x -4.95 x -3.67 x 6.71 x -7.43 x -13.3 x 17.6 x 8.92 x
Yield 4.99% 4.17% 3.91% 4.71% 6.21% 5.93% 6.04% 6.15%
Capitalization / Revenue 10 x 6.13 x 8.93 x 9.92 x 7.12 x 6.95 x 7.15 x 7.06 x
EV / Revenue 15.5 x 12.1 x 15.1 x 17 x 12.3 x 12.3 x 12.8 x 12.8 x
EV / EBITDA 19.5 x 15.9 x 26.5 x 23.4 x 16.7 x 16.9 x 17.1 x 17.2 x
EV / FCF 45.8 x 35.4 x 15.8 x 64.4 x 6.34 x 129 x 170 x 119 x
FCF Yield 2.18% 2.83% 6.34% 1.55% 15.8% 0.77% 0.59% 0.84%
Price to Book 0.68 x 0.47 x 0.71 x 0.74 x 0.67 x 0.8 x 0.78 x 0.74 x
Nbr of stocks (in thousands) 740,284 740,393 740,516 740,263 741,542 670,737 - -
Reference price 2 9.134 5.568 6.901 7.856 6.212 6.670 6.670 6.670
Announcement Date 19-05-14 20-05-12 21-05-18 22-05-17 23-05-16 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 676 672 572 586 647 643.4 625.6 633.7
EBITDA 1 537 509 325 426 477 466.9 467.2 470.8
EBIT 1 486 509 303 416 466 456.5 467.7 477
Operating Margin 71.89% 75.74% 52.97% 70.99% 72.02% 70.96% 74.76% 75.27%
Earnings before Tax (EBT) 1 -123 -837 -1,393 875 -622 -347.6 293.9 564.6
Net income 1 -119 -832 -1,393 869 -619 -342.2 257.4 493
Net margin -17.6% -123.81% -243.53% 148.29% -95.67% -53.19% 41.14% 77.79%
EPS 2 -0.1610 -1.124 -1.882 1.171 -0.8360 -0.5030 0.3794 0.7477
Free Cash Flow 1 229 229 547 155 1,254 61 47 68
FCF margin 33.88% 34.08% 95.63% 26.45% 193.82% 9.48% 7.51% 10.73%
FCF Conversion (EBITDA) 42.64% 44.99% 168.31% 36.38% 262.89% 13.06% 10.06% 14.44%
FCF Conversion (Net income) - - - 17.84% - - 18.26% 13.79%
Dividend per Share 2 0.4555 0.2320 0.2700 0.3700 0.3860 0.3958 0.4031 0.4103
Announcement Date 19-05-14 20-05-12 21-05-18 22-05-17 23-05-16 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 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 19-11-12 20-11-10 21-05-18 21-08-16 21-11-16 22-05-17 22-11-15 23-05-16 23-11-14 - - -
1GBP
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 3,731 3,978 3,516 4,160 3,348 3,409 3,522 3,631
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 6.948 x 7.815 x 10.82 x 9.765 x 7.019 x 7.301 x 7.54 x 7.713 x
Free Cash Flow 1 229 229 547 155 1,254 61 47 68
ROE (net income / shareholders' equity) 4.35% 4.43% 3.15% 4.69% 5.27% 3.92% 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 -9,760 7,003 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 1 195 172 177 344 355 191 337 452
Capex / Sales 28.85% 25.6% 30.94% 58.7% 54.87% 29.74% 53.82% 71.25%
Announcement Date 19-05-14 20-05-12 21-05-18 22-05-17 23-05-16 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
6.67 GBP
Average target price
7.106 GBP
Spread / Average Target
+6.53%
Consensus

Annual profits - Rate of surprise

  1. Stock Market
  2. Equities
  3. LAND Stock
  4. Financials Land Securities Group Plc