Balance Sheet Tritax Big Box REIT plc

Equities

BBOX

GB00BG49KP99

Commercial REITs

Market Closed - London S.E. Other stock markets 11:35:23 2026-02-12 EST			5-day change	1st Jan Change
169.50 ^GBX	+0.71%		+4.63%	+11.37%

01-22	Tritax Big Box REIT says well positioned for medium-term ambition	AN
01-22	Tritax Big Box REIT's FY25 Contracted Rent from Active Management Grows	MT

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Published financial data: TRITAX BIG BOX REIT PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Rental Revenues	162M	185M	206M	222M	281M
Other Revenues, Total	4.5M	5.2M	6.8M	6.6M	13.2M
Total Revenues	166M	190M	213M	229M	294M
Property Expenses	4.7M	5.2M	6.5M	6.3M	18.2M
Selling General & Admin Expenses, Total	22.6M	25.5M	32.2M	28.9M	33.7M
Stock-Based Compensation (IS)	5.9M	5.5M	1.9M	2.9M	-
Other Operating Expenses	-8.6M	-18.9M	-9.3M	-	-23M
Total Operating Expenses	24.6M	17.3M	31.3M	38.1M	28.9M
Operating Income (REIT / Utility Template)	142M	173M	182M	191M	265M
Interest Expense, Total	-36M	-38.1M	-37.7M	-53.2M	-65M
Interest and Investment Income	-	-	-	10.4M	8.6M
Net Interest Expenses	-36M	-38.1M	-37.7M	-42.8M	-56.4M
Other Non Operating Income (Expenses)	-3.9M	800K	14.8M	-13.3M	-12.2M
EBT, Excl. Unusual Items	102M	135M	159M	135M	197M
Total Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) on Sale of Investments	-	-	-	-100K	900K
Gain (Loss) on Sale of Assets	100K	2M	-	-1.6M	8.4M
Asset Writedown	351M	838M	-761M	-40.8M	240M
Other Unusual Items	-2.9M	-4.2M	1.1M	-21.5M	-
EBT, Incl. Unusual Items	450M	971M	-601M	70.6M	446M
Income Tax Expense	100K	-1.5M	-1.6M	600K	300K
Earnings From Continuing Operations	449M	973M	-599M	70M	446M
Net Income to Company	449M	973M	-599M	70M	446M
Net Income - (IS)	449M	973M	-599M	70M	446M
Net Income to Common Incl Extra Items	449M	973M	-599M	70M	446M
Net Income to Common Excl. Extra Items	449M	973M	-599M	70M	446M
Per Share Items
Net EPS - Basic	0.26	0.55	-0.32	0.04	0.2
Basic EPS - Continuing Operations	0.26	0.55	-0.32	0.04	0.2
Basic Weighted Average Shares Outstanding	1.71B	1.76B	1.87B	1.88B	2.26B
Net EPS - Diluted	0.26	0.55	-0.32	0.04	0.2
Diluted EPS - Continuing Operations	0.26	0.55	-0.32	0.04	0.2
Diluted Weighted Average Shares Outstanding	1.71B	1.77B	1.87B	1.88B	2.26B
Normalized Basic EPS	0.04	0.05	0.05	0.04	0.05
Normalized Diluted EPS	0.04	0.05	0.05	0.04	0.05
Dividend Per Share	0.06	0.07	0.07	0.07	0.08
Payout Ratio	24.39	11.75	-21.55	193.29	39.08
Supplemental Items
EBITDA	146M	178M	183M	192M	266M
EBITA	142M	173M	182M	191M	265M
EBIT	142M	173M	182M	191M	265M
Effective Tax Rate - (Ratio)	0.02	-0.15	0.27	0.85	0.07
Normalized Net Income	63.5M	84.56M	99.25M	84.12M	123M
Interest Capitalized	-	700K	4.7M	4.6M	6M
Interest on Long-Term Debt	37.4M	40.4M	44M	59.8M	73.7M
Supplemental Operating Expense Items
Marketing Expenses	500K	500K	500K	600K	1.6M
Selling and Marketing Expenses	500K	500K	500K	600K	1.6M
General and Administrative Expenses	22.1M	25M	31.7M	28.3M	32.1M
Stock-Based Comp., G&A Exp. (Total)	2.4M	2.7M	5.3M	4.5M	-
Stock-Based Comp., Other (Total)	5.9M	5.5M	1.9M	2.9M	-
Total Stock-Based Compensation	8.3M	8.2M	7.2M	7.4M	-

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Net Property Plant And Equipment	4.06B	5.25B	4.85B	4.85B	5.93B
Total Real Estate Assets	4.06B	5.25B	4.85B	4.85B	5.93B
Cash And Equivalents	57.8M	71.1M	47.6M	36.4M	80.6M
Accounts Receivable, Total	21.8M	7.1M	16.4M	9.4M	26.5M
Other Receivables	1.6M	4.3M	5.6M	5.2M	2M
Investment In Debt and Equity Securities	100K	1.8M	19.9M	11.1M	7.6M
Other Intangibles, Total	2M	1.7M	1.4M	1.1M	700K
Other Current Assets, Total	1.7M	25.7M	28M	7.4M	470M
Other Long-Term Assets, Total	259M	229M	187M	186M	180M
Total Assets	4.41B	5.59B	5.16B	5.1B	6.7B
Liabilities
Long-Term Debt	1.34B	1.35B	1.61B	1.62B	1.95B
Accounts Payable, Total	52.7M	66.6M	75M	57.4M	72.5M
Accrued Expenses, Total	16.6M	19.3M	36.2M	44.7M	35.7M
Current Income Taxes Payable	1.9M	4.3M	1.1M	2.2M	1.9M
Unearned Revenue, Current	36.1M	38.6M	34.7M	38.6M	59.5M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	-	-	-	4.8M	4.3M
Other Non Current Liabilities	33.7M	43.4M	44.2M	5.1M	3.9M
Total Liabilities	1.49B	1.52B	1.81B	1.77B	2.13B
Common Stock, Total	17.2M	18.7M	18.7M	19M	24.8M
Additional Paid In Capital	466M	762M	764M	49.2M	49.2M
Retained Earnings	1.36B	2.33B	1.73B	1.8B	3.2B
Comprehensive Income and Other	1.08B	964M	835M	1.46B	1.29B
Total Common Equity	2.92B	4.08B	3.35B	3.33B	4.57B
Total Equity	2.92B	4.08B	3.35B	3.33B	4.57B
Total Liabilities And Equity	4.41B	5.59B	5.16B	5.1B	6.7B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.72B	1.87B	1.87B	1.9B	2.48B
ECS Total Common Shares Outstanding	1.72B	1.87B	1.87B	1.9B	2.48B
Book Value / Share	1.7	2.18	1.79	1.75	1.84
Tangible Book Value	2.92B	4.07B	3.35B	3.33B	4.57B
Tangible Book Value Per Share	1.7	2.18	1.79	1.75	1.84
Total Debt	1.34B	1.35B	1.61B	1.62B	1.95B
Net Debt	1.29B	1.27B	1.57B	1.58B	1.87B
Equity Method Investments, Total	28.5M	25.6M	27.2M	24.8M	24.4M
Account Code - Inventory Valuation	3	3	3	3	3
Accumulated Allowance for Doubtful Accounts (Supple)	200K	100K	300K	300K	600K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	449M	973M	-599M	70M	446M
Depreciation, Depletion & Amortization	4.5M	5.4M	1.7M	-	600K
Total Depreciation, Depletion & Amortization	4.5M	5.4M	1.7M	-	600K
Amortization of Deferred Charges, Total	1.9M	2.5M	3.2M	4.4M	4.3M
(Gain) Loss On Sale of Asset - (CF)	-100K	-2M	-	1.6M	-8.4M
(Gain) Loss on Sale of Investments - (CF)	2.3M	-2.8M	-14.9M	11.2M	4.4M
Total Asset Writedown	-351M	-838M	761M	40.8M	-240M
(Income) Loss On Equity Investments - (CF)	100K	-100K	-500K	-400K	-100K
Stock-Based Compensation (CF)	5.9M	5.5M	1.9M	2.9M	-
Change in Accounts Receivable	-4M	-12M	12.1M	3.5M	-33.4M
Change in Accounts Payable	15M	26.2M	-2.9M	600K	-26M
Change in Unearned Revenues	700K	1.7M	-3.9M	3.9M	12.7M
Other Operating Activities	12.6M	37.1M	19.2M	46.8M	35.5M
Cash from Operations	138M	196M	177M	185M	195M
Acquisition of Real Estate Assets, Total	-279M	-317M	-287M	-309M	-196M
Sale of Real Estate Assets, Total	132M	4.2M	-	327M	138M
Net Sale / Acquisition of Real Estate Assets	-147M	-313M	-287M	17.9M	-58.4M
Cash Acquisitions	-	-	-	-	-8.1M
Investment in Marketable and Equity Securities, Total	-700K	-500K	-2.8M	-69.3M	-
Other Investing Activities, Total	-2.8M	-14.1M	-12.5M	-15.8M	-15.8M
Cash from Investing	-150M	-327M	-302M	-67.2M	-82.3M
Long-Term Debt Issued, Total	536M	246M	319M	409M	340M
Total Debt Issued	536M	246M	319M	409M	340M
Long-Term Debt Repaid, Total	-340M	-246M	-52M	-407M	-178M
Total Debt Repaid	-340M	-246M	-52M	-407M	-178M
Issuance of Common Stock	-	303M	2.3M	49.6M	-
Common Dividends Paid	-110M	-114M	-129M	-135M	-174M
Common & Preferred Stock Dividends Paid	-110M	-114M	-129M	-135M	-174M
Other Financing Activities, Total	-37.6M	-44M	-38.9M	-45.5M	-56.6M
Cash from Financing	49M	144M	101M	-129M	-68.7M
Miscellaneous Cash Flow Adjustments	-	-	-	-100K	-
Net Change in Cash	36.4M	13.3M	-23.5M	-11.2M	44.4M
Supplemental Items
Cash Interest Paid	35.5M	37.5M	35.8M	47.9M	60.6M
Cash Income Tax Paid (Refund)	16.8M	-4M	1.6M	-400K	2.6M
Net Debt Issued / Repaid	196M	0	267M	2M	162M
Levered Free Cash Flow	58.44M	110M	107M	126M	-320M
Unlevered Free Cash Flow	79.04M	131M	128M	155M	-284M
Change In Net Working Capital	22.2M	-9.5M	-5.3M	-28.7M	450M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	2.14	2.16	2.11	2.32	2.81
Return on Total Capital	2.22	2.23	2.19	2.4	2.89
Return On Equity %	16.39	27.8	-16.14	2.09	11.28
Return on Common Equity	16.39	27.8	-16.14	2.09	11.28
Margin Analysis
Gross Profit Margin %	97.17	97.26	96.95	97.25	93.82
SG&A Margin	13.61	13.43	15.12	12.63	11.45
EBITDA Margin %	87.9	93.73	86.1	84.09	90.38
EBITA Margin %	85.19	90.89	85.31	83.35	90.18
EBIT Margin %	85.19	90.89	85.31	83.35	90.18
Income From Continuing Operations Margin %	270.56	512.16	-281.41	30.59	151.38
Net Income Margin %	270.56	512.16	-281.41	30.59	151.38
Net Avail. For Common Margin %	270.56	512.16	-281.41	30.59	151.38
Normalized Net Income Margin	38.23	44.53	46.6	36.77	41.79
Levered Free Cash Flow Margin	35.18	57.75	50.42	55.26	-108.75
Unlevered Free Cash Flow Margin	47.58	68.97	59.98	67.87	-96.41
Asset Turnover
Asset Turnover	0.04	0.04	0.04	0.04	0.05
Fixed Assets Turnover	0.04	0.04	0.04	0.05	0.05
Receivables Turnover (Average Receivables)	10.92	12.78	17.55	17.22	15.66
Short Term Liquidity
Current Ratio	0.77	0.84	0.66	0.4	3.33
Quick Ratio	0.76	0.64	0.47	0.35	0.63
Operating Cash Flow to Current Liabilities	1.28	1.52	1.21	1.25	1.12
Days Sales Outstanding (Average Receivables)	33.52	28.56	20.8	21.19	23.37
Average Days Payable Outstanding	4.49K	4.19K	3.98K	3.84K	1.31K
Long Term Solvency
Total Debt/Equity	46.01	33	48.18	48.45	42.77
Total Debt / Total Capital	31.51	24.81	32.51	32.64	29.96
LT Debt/Equity	46.01	33	48.18	48.45	42.77
Long-Term Debt / Total Capital	31.51	24.81	32.51	32.64	29.96
Total Liabilities / Total Assets	33.7	27.13	35.02	34.65	31.82
EBIT / Interest Expense	3.93	4.53	4.82	3.58	4.08
EBITDA / Interest Expense	4.06	4.67	4.86	3.62	4.09
(EBITDA - Capex) / Interest Expense	4.06	4.67	4.86	3.62	4.09
Total Debt / EBITDA	9.21	7.56	8.8	8.4	7.34
Net Debt / EBITDA	8.81	7.16	8.54	8.21	7.04
Total Debt / (EBITDA - Capex)	9.21	7.56	8.8	8.4	7.34
Net Debt / (EBITDA - Capex)	8.81	7.16	8.54	8.21	7.04
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	11.85	14.33	12.16	7.42	28.63
Gross Profit, 1 Yr. Growth %	11.85	14.44	11.8	7.75	24.09
EBITDA, 1 Yr. Growth %	17.93	21.92	3.03	4.91	38.25
EBITA, 1 Yr. Growth %	14.67	21.98	5.27	4.95	39.17
EBIT, 1 Yr. Growth %	14.67	21.98	5.27	4.95	39.17
Earnings From Cont. Operations, 1 Yr. Growth %	218.27	116.42	-161.63	-111.68	536.43
Net Income, 1 Yr. Growth %	218.27	116.42	-161.63	-111.68	536.43
Diluted EPS Before Extra, 1 Yr. Growth %	213.68	110.31	-158	-111.59	428.83
Normalized Net Income, 1 Yr. Growth %	20.66	33.17	17.37	-15.24	46.21
Net Property, Plant and Equip., 1 Yr. Growth %	14.28	29.29	-7.68	-0.08	22.39
Accounts Receivable, 1 Yr. Growth %	179.49	-67.43	130.99	-42.68	181.91
Total Assets, 1 Yr. Growth %	14.1	26.95	-7.84	-1.03	31.3
Common Equity, 1 Yr. Growth %	14.06	39.54	-17.82	-0.48	36.99
Tangible Book Value, 1 Yr. Growth %	14.08	39.58	-17.82	-0.47	37.02
Cash From Operations, 1 Yr. Growth %	47.48	42.51	-9.54	4.45	5.45
Levered Free Cash Flow, 1 Yr. Growth %	-58	87.66	-2.06	17.73	-362.47
Unlevered Free Cash Flow, 1 Yr. Growth %	-49.7	65.71	-2.45	21.54	-288.16
Dividend Per Share, 1 Yr. Growth %	-6.57	4.69	4.48	4.29	4.93
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	9.79	13.08	13.24	9.77	17.55
Gross Profit, 2 Yr. CAGR %	10.24	13.14	13.11	9.76	15.63
EBITDA, 2 Yr. CAGR %	-	19.91	12.08	3.97	20.43
EBITA, 2 Yr. CAGR %	11.07	18.27	13.32	5.11	20.86
EBIT, 2 Yr. CAGR %	11.07	18.27	13.32	5.11	20.86
Earnings From Cont. Operations, 2 Yr. CAGR %	33.38	162.45	15.49	-73.17	-13.79
Net Income, 2 Yr. CAGR %	33.38	162.45	15.49	-73.17	-13.79
Diluted EPS Before Extra, 2 Yr. CAGR %	22.45	156.85	10.44	-74.07	-21.7
Normalized Net Income, 2 Yr. CAGR %	5.9	26.76	25.02	-0.26	11.32
Net Property, Plant and Equip., 2 Yr. CAGR %	15.64	21.56	9.25	-3.95	10.59
Accounts Receivable, 2 Yr. CAGR %	76.47	-4.59	-13.27	15.06	27.12
Total Assets, 2 Yr. CAGR %	18.57	20.35	8.16	-4.5	13.99
Common Equity, 2 Yr. CAGR %	14.18	26.16	7.09	-9.56	16.76
Tangible Book Value, 2 Yr. CAGR %	14.14	26.19	7.1	-9.56	16.78
Cash From Operations, 2 Yr. CAGR %	21.05	44.98	13.54	-2.79	4.95
Levered Free Cash Flow, 2 Yr. CAGR %	7.05	-11.23	35.57	7.38	72.63
Unlevered Free Cash Flow, 2 Yr. CAGR %	11.78	-8.7	27.14	8.89	49.02
Dividend Per Share, 2 Yr. CAGR %	-2.26	-1.1	4.58	4.38	4.61
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	14.41	11.28	12.78	11.27	15.72
Gross Profit, 3 Yr. CAGR %	14.35	11.62	12.69	11.29	14.34
EBITDA, 3 Yr. CAGR %	-	-	14	9.64	14.33
EBITA, 3 Yr. CAGR %	14.7	14.59	13.77	10.46	15.42
EBIT, 3 Yr. CAGR %	14.7	14.59	13.77	10.46	15.42
Earnings From Cont. Operations, 3 Yr. CAGR %	21.95	56.74	61.92	-46.2	-22.91
Net Income, 3 Yr. CAGR %	21.95	56.74	61.92	-46.2	-22.91
Diluted EPS Before Extra, 3 Yr. CAGR %	10.43	46.64	56.41	-47.9	-29.15
Normalized Net Income, 3 Yr. CAGR %	9.89	14.3	23.55	9.83	13.3
Net Property, Plant and Equip., 3 Yr. CAGR %	16.06	20.02	10.9	6.05	4.13
Accounts Receivable, 3 Yr. CAGR %	60.53	0.47	28.11	-24.45	55.12
Total Assets, 3 Yr. CAGR %	17.89	21.3	10.11	5.01	6.19
Common Equity, 3 Yr. CAGR %	14.83	22.07	9.36	4.5	3.86
Tangible Book Value, 3 Yr. CAGR %	14.8	22.06	9.38	4.52	3.87
Cash From Operations, 3 Yr. CAGR %	16.61	27.82	23.89	10.43	-0.12
Levered Free Cash Flow, 3 Yr. CAGR %	-3.29	29.08	-8.27	29.34	42.91
Unlevered Free Cash Flow, 3 Yr. CAGR %	3.12	27.46	-6.66	25.25	29.39
Dividend Per Share, 3 Yr. CAGR %	0	0	0.72	4.48	4.56
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	29.73	19.81	13.94	10.67	14.66
Gross Profit, 5 Yr. CAGR %	33.93	23.19	13.85	10.87	13.86
EBITDA, 5 Yr. CAGR %	-	-	-	-	16.53
EBITA, 5 Yr. CAGR %	31.52	22.36	14.14	10.7	16.55
EBIT, 5 Yr. CAGR %	31.52	22.36	14.14	10.7	16.55
Earnings From Cont. Operations, 5 Yr. CAGR %	27.38	60.3	19.32	-22.64	25.84
Net Income, 5 Yr. CAGR %	27.38	60.3	19.32	-22.64	25.84
Diluted EPS Before Extra, 5 Yr. CAGR %	4.07	39.39	10.44	-26.67	18.6
Normalized Net Income, 5 Yr. CAGR %	30.12	24.97	15.71	8.24	18.51
Net Property, Plant and Equip., 5 Yr. CAGR %	28.54	23.85	13.29	9.79	10.78
Accounts Receivable, 5 Yr. CAGR %	59.53	5.55	25.49	6.07	27.71
Total Assets, 5 Yr. CAGR %	28.56	23.01	13.9	10.24	11.64
Common Equity, 5 Yr. CAGR %	28.28	23.58	11.67	8.27	12.27
Tangible Book Value, 5 Yr. CAGR %	28.26	23.57	11.66	8.26	12.28
Cash From Operations, 5 Yr. CAGR %	38.99	22.78	15.37	14.56	15.93
Levered Free Cash Flow, 5 Yr. CAGR %	1.74	18.05	10.7	19.91	18.13
Unlevered Free Cash Flow, 5 Yr. CAGR %	6.78	19.76	12.13	19.68	12.55
Dividend Per Share, 5 Yr. CAGR %	1.3	1.56	1.81	1.73	2.26