Financial Ratios British Land Company PLC

Equities

BLND

GB0001367019

Diversified REITs

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Published financial data: BRITISH LAND COMPANY PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Rental Revenues	468M	410M	418M	575M	454M
Other Revenues, Total	53M	82M	100M	95M	104M
Total Revenues	521M	492M	518M	670M	558M
Property Expenses	180M	129M	97M	146M	123M
Selling General & Admin Expenses, Total	74M	88M	88M	85M	82M
Total Operating Expenses	254M	217M	185M	231M	205M
Operating Income (REIT / Utility Template)	267M	275M	333M	439M	353M
Interest Expense, Total	-93M	-84M	-90M	-107M	-112M
Interest and Investment Income	-	-	2M	1M	2M
Net Interest Expenses	-93M	-84M	-88M	-106M	-110M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	43M	77M	116M	10M	7M
EBT, Excl. Unusual Items	217M	268M	361M	343M	250M
Gain (Loss) on Sale of Investments	-410M	162M	-567M	-174M	-14M
Gain (Loss) on Sale of Assets	28M	57M	-30M	-23M	-42M
Asset Writedown	-888M	471M	-798M	-131M	148M
EBT, Incl. Unusual Items	-1.05B	958M	-1.03B	15M	342M
Income Tax Expense	30M	-2M	5M	14M	4M
Earnings From Continuing Operations	-1.08B	960M	-1.04B	1M	338M
Net Income to Company	-1.08B	960M	-1.04B	1M	338M
Minority Interest	52M	-2M	1M	-2M	-
Net Income - (IS)	-1.03B	958M	-1.04B	-1M	338M
Net Income to Common Incl Extra Items	-1.03B	958M	-1.04B	-1M	338M
Net Income to Common Excl. Extra Items	-1.03B	958M	-1.04B	-1M	338M
Per Share Items
Net EPS - Basic	-1.11	1.03	-1.12	-0	0.35
Basic EPS - Continuing Operations	-1.11	1.03	-1.12	-0	0.35
Basic Weighted Average Shares Outstanding	927M	927M	927M	927M	962M
Net EPS - Diluted	-1.11	1.03	-1.12	-0	0.35
Diluted EPS - Continuing Operations	-1.11	1.03	-1.12	-0	0.35
Diluted Weighted Average Shares Outstanding	927M	930M	927M	927M	965M
Normalized Basic EPS	0.2	0.18	0.24	0.23	0.16
Normalized Diluted EPS	0.2	0.18	0.24	0.23	0.16
Dividend Per Share	0.15	0.22	0.23	0.23	0.23
Payout Ratio	-7.37	16.18	-20.52	-21.3K	65.09
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	271M	280M	336M	447M	361M
EBITA	271M	280M	336M	442M	357M
EBIT	267M	275M	333M	439M	353M
Effective Tax Rate - (Ratio)	-2.85	-0.21	-0.48	93.33	1.17
Current Domestic Taxes	25M	-2M	1M	13M	5M
Total Current Taxes	25M	-2M	1M	13M	5M
Deferred Domestic Taxes	5M	-	4M	1M	-1M
Total Deferred Taxes	5M	-	4M	1M	-1M
Normalized Net Income	188M	166M	227M	212M	156M
Interest Capitalized	7M	7M	13M	25M	33M
Interest on Long-Term Debt	4M	3M	3M	3M	3M
Non-Cash Pension Expense	-3M	0	-2M	-1M	-1M
Supplemental Operating Expense Items
General and Administrative Expenses	74M	88M	88M	85M	82M
Stock-Based Comp., Other (Total)	3M	7M	7M	5M	4M
Total Stock-Based Compensation	3M	7M	7M	5M	4M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Net Property Plant And Equipment	6.36B	7.06B	5.7B	5.25B	6.15B
Total Real Estate Assets	6.36B	7.06B	5.7B	5.25B	6.15B
Cash And Equivalents	154M	74M	125M	88M	57M
Accounts Receivable, Total	38M	24M	22M	22M	28M
Other Receivables	-	3M	2M	-	-
Investment In Debt and Equity Securities	266M	757M	981M	1.19B	1.24B
Other Intangibles, Total	12M	9M	8M	8M	7M
Other Current Assets, Total	44M	33M	34M	34M	52M
Trading Asset Securities, Total	-	-	-	20M	9M
Deferred Tax Assets Long-Term (Collected)	-	-	-	-	-
Other Long-Term Assets, Total	2B	1.88B	1.42B	1.36B	1.33B
Total Assets	8.88B	9.84B	8.29B	7.97B	8.88B
Liabilities
Current Portion of Long-Term Debt	161M	189M	402M	10M	313M
Current Portion of Leases	5M	6M	6M	6M	7M
Long-Term Debt	2.38B	2.52B	1.93B	2.26B	2.47B
Long-Term Leases	128M	125M	120M	121M	107M
Accounts Payable, Total	55M	74M	113M	85M	69M
Accrued Expenses, Total	93M	95M	60M	72M	104M
Current Income Taxes Payable	7M	-	25M	33M	6M
Unearned Revenue, Current	62M	66M	52M	42M	47M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	4M	4M	26M	30M	36M
Unearned Revenue Non Current	-	27M	25M	-	-
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non-Current	-	-	4M	5M	3M
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	2.89B	3.11B	2.76B	2.66B	3.16B
Common Stock, Total	234M	234M	234M	235M	253M
Additional Paid In Capital	1.31B	1.31B	1.31B	1.31B	1.59B
Retained Earnings	4.15B	4.96B	3.74B	3.53B	3.64B
Comprehensive Income and Other	229M	218M	228M	226M	226M
Total Common Equity	5.92B	6.72B	5.51B	5.3B	5.71B
Minority Interest	59M	15M	13M	13M	-
Total Equity	5.98B	6.73B	5.52B	5.31B	5.71B
Total Liabilities And Equity	8.88B	9.84B	8.29B	7.97B	8.88B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	927M	927M	927M	927M	999M
ECS Total Common Shares Outstanding	927M	927M	927M	927M	999M
Book Value / Share	6.39	7.25	5.95	5.71	5.71
Tangible Book Value	5.91B	6.71B	5.5B	5.29B	5.7B
Tangible Book Value Per Share	6.38	7.24	5.94	5.7	5.71
Total Debt	2.67B	2.84B	2.46B	2.4B	2.9B
Net Debt	2.52B	2.77B	2.34B	2.29B	2.83B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-26M	-53M	-30M	-23M	-19M
Minority Interest, Total (Incl. Fin. Div)	59M	15M	13M	13M	-
Equity Method Investments, Total	2B	1.88B	1.42B	1.36B	1.33B
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	613	636	647	704	691
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	57M	57M	27M	11M	12M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	-1.03B	958M	-1.04B	-1M	338M
Depreciation, Depletion & Amortization	-	-	-	5M	4M
Amortization of Goodwill and Intangible Assets - (CF)	4M	5M	3M	3M	4M
Total Depreciation, Depletion & Amortization	4M	5M	3M	8M	8M
(Income) Loss On Equity Investments - (CF)	34M	57M	73M	77M	72M
Other Operating Activities	1.14B	-775M	1.2B	325M	-148M
Cash from Operations	149M	245M	240M	409M	270M
Acquisition of Real Estate Assets, Total	-224M	-855M	-364M	-370M	-942M
Sale of Real Estate Assets, Total	1.07B	477M	694M	390M	292M
Net Sale / Acquisition of Real Estate Assets	849M	-378M	330M	20M	-650M
Investment in Marketable and Equity Securities, Total	23M	-135M	-133M	-193M	-294M
Other Investing Activities, Total	38M	128M	129M	1M	91M
Cash from Investing	910M	-385M	326M	-172M	-853M
Long-Term Debt Issued, Total	214M	483M	324M	361M	633M
Total Debt Issued	214M	483M	324M	361M	633M
Long-Term Debt Repaid, Total	-1.22B	-217M	-641M	-390M	-135M
Total Debt Repaid	-1.22B	-217M	-641M	-390M	-135M
Issuance of Common Stock	-	-	-	1M	295M
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-76M	-155M	-213M	-213M	-220M
Common & Preferred Stock Dividends Paid	-76M	-155M	-213M	-213M	-220M
Other Financing Activities, Total	-11M	-51M	-22M	-33M	-21M
Cash from Financing	-1.1B	60M	-552M	-274M	552M
Net Change in Cash	-39M	-80M	14M	-37M	-31M
Supplemental Items
Cash Interest Paid	70M	62M	71M	51M	57M
Cash Income Tax Paid (Refund)	33M	6M	-	6M	7M
Net Debt Issued / Repaid	-1.01B	266M	-317M	-29M	498M
Levered Free Cash Flow	67.75M	171M	189M	208M	139M
Unlevered Free Cash Flow	126M	224M	245M	275M	209M
Change In Net Working Capital	48M	-40M	-27M	12M	24M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.66	1.84	2.29	3.37	2.62
Return on Total Capital	1.7	1.89	2.37	3.5	2.7
Return On Equity %	-16.5	15.1	-16.9	0.02	6.13
Return on Common Equity	-15.91	15.16	-16.93	-0.02	6.14
Margin Analysis
Gross Profit Margin %	65.45	73.78	81.27	78.21	77.96
SG&A Margin	14.2	17.89	16.99	12.69	14.7
EBITDA Margin %	52.02	56.91	64.86	66.72	64.7
EBITA Margin %	52.02	56.91	64.86	65.97	63.98
EBIT Margin %	51.25	55.89	64.29	65.52	63.26
Income From Continuing Operations Margin %	-207.87	195.12	-200.58	0.15	60.57
Net Income Margin %	-197.89	194.72	-200.39	-0.15	60.57
Net Avail. For Common Margin %	-197.89	194.72	-200.39	-0.15	60.57
Normalized Net Income Margin	36.01	33.64	43.75	31.7	28
Levered Free Cash Flow Margin	13	34.83	36.46	31.12	24.84
Unlevered Free Cash Flow Margin	24.16	45.5	47.32	41.1	37.39
Asset Turnover
Asset Turnover	0.05	0.05	0.06	0.08	0.07
Fixed Assets Turnover	0.07	0.07	0.08	0.12	0.1
Receivables Turnover (Average Receivables)	13.97	13.23	11.77	26.14	18.16
Short Term Liquidity
Current Ratio	0.61	0.31	0.27	0.59	0.25
Quick Ratio	0.5	0.23	0.22	0.47	0.16
Operating Cash Flow to Current Liabilities	0.39	0.56	0.35	1.47	0.46
Days Sales Outstanding (Average Receivables)	26.13	27.6	31	14	20.1
Average Days Payable Outstanding	111.53	182.5	351.83	248.18	228.5
Long Term Solvency
Total Debt/Equity	44.64	42.22	44.52	45.09	50.79
Total Debt / Total Capital	30.86	29.69	30.81	31.08	33.68
LT Debt/Equity	41.87	39.33	37.14	44.79	45.18
Long-Term Debt / Total Capital	28.95	27.65	25.7	30.87	29.97
Total Liabilities / Total Assets	32.59	31.59	33.35	33.38	35.66
EBIT / Interest Expense	2.87	3.27	3.7	4.1	3.15
EBITDA / Interest Expense	2.91	3.33	3.73	4.18	3.22
(EBITDA - Capex) / Interest Expense	2.91	3.33	3.73	4.18	3.22
Total Debt / EBITDA	9.86	10.15	7.32	5.36	8.03
Net Debt / EBITDA	9.29	9.89	6.95	5.12	7.85
Total Debt / (EBITDA - Capex)	9.86	10.15	7.32	5.36	8.03
Net Debt / (EBITDA - Capex)	9.29	9.89	6.95	5.12	7.85
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-22.24	-5.38	5.28	29.34	-17.33
Gross Profit, 1 Yr. Growth %	-24.56	6.76	17.27	24.47	-17.77
EBITDA, 1 Yr. Growth %	-29.24	3.7	21.74	31.47	-20.13
EBITA, 1 Yr. Growth %	-29.06	3.7	21.74	31.55	-20.13
EBIT, 1 Yr. Growth %	-29.55	3.38	22.88	31.83	-20.5
Earnings From Cont. Operations, 1 Yr. Growth %	-2.78	-188.64	-207.67	-100.1	33.7K
Net Income, 1 Yr. Growth %	0.39	-192.92	-207.79	-99.9	-33.9K
Diluted EPS Before Extra, 1 Yr. Growth %	1.11	-192.61	-208.21	-99.9	-32.57K
Normalized Net Income, 1 Yr. Growth %	-26.99	-11.5	39.03	-6.29	-27.49
Net Property, Plant and Equip., 1 Yr. Growth %	-23.05	11.03	-19.27	-7.91	17.11
Accounts Receivable, 1 Yr. Growth %	31.03	-36.84	-55.1	0	27.27
Total Assets, 1 Yr. Growth %	-21.08	10.9	-16.35	-3.81	11.3
Common Equity, 1 Yr. Growth %	-15.79	13.4	-18.38	-3.86	7.76
Tangible Book Value, 1 Yr. Growth %	-15.83	13.48	-18.39	-3.87	7.79
Cash From Operations, 1 Yr. Growth %	-60.27	64.43	-2.04	70.42	-33.99
Levered Free Cash Flow, 1 Yr. Growth %	-65.12	155.31	4.42	8.1	-34.5
Unlevered Free Cash Flow, 1 Yr. Growth %	-50.61	78.74	5.03	10.54	-25.09
Dividend Per Share, 1 Yr. Growth %	-5.79	45.74	3.28	0.71	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-26.75	-14.31	-0.19	16.7	3.79
Gross Profit, 2 Yr. CAGR %	-22.79	-10.38	11.28	20.81	1.65
EBITDA, 2 Yr. CAGR %	-26.16	-14.5	11.55	27.26	3.04
EBITA, 2 Yr. CAGR %	-26.08	-14.39	11.55	26.55	3.08
EBIT, 2 Yr. CAGR %	-26.33	-14.82	11.89	27.28	2.96
Earnings From Cont. Operations, 2 Yr. CAGR %	83.97	-7.17	-2.05	-96.78	-42.96
Net Income, 2 Yr. CAGR %	88.23	-3.42	0.34	-96.78	-42.94
Diluted EPS Before Extra, 2 Yr. CAGR %	92.54	-3.23	0.35	-96.77	-44.1
Normalized Net Income, 2 Yr. CAGR %	-15.99	-19.75	10.09	14.15	-16.97
Net Property, Plant and Equip., 2 Yr. CAGR %	-16.07	-7.57	-5.32	-13.78	3.85
Accounts Receivable, 2 Yr. CAGR %	5.72	-9.03	-23.91	-32.99	12.82
Total Assets, 2 Yr. CAGR %	-14.9	-6.45	-3.35	-10.3	3.47
Common Equity, 2 Yr. CAGR %	-16.41	-2.28	-3.54	-11.42	1.78
Tangible Book Value, 2 Yr. CAGR %	-16.44	-2.27	-3.51	-11.43	1.79
Cash From Operations, 2 Yr. CAGR %	-50.7	-19.17	26.91	29.2	6.07
Levered Free Cash Flow, 2 Yr. CAGR %	-60.6	-6.07	67.74	7.37	-15.22
Unlevered Free Cash Flow, 2 Yr. CAGR %	-49.65	-6.28	39.9	8.63	-8.49
Dividend Per Share, 2 Yr. CAGR %	-30.35	17.18	22.69	1.99	0.35
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-11.08	-20.28	-8.22	8.82	4.29
Gross Profit, 3 Yr. CAGR %	-14.26	-14.06	-2.34	15.51	6.61
EBITDA, 3 Yr. CAGR %	-16.47	-17.41	-4.27	18.3	9.36
EBITA, 3 Yr. CAGR %	-16.29	-17.35	-4.19	17.86	8.96
EBIT, 3 Yr. CAGR %	-16.52	-17.63	-4.22	18.18	9.21
Earnings From Cont. Operations, 3 Yr. CAGR %	28.79	44.22	-2.3	-90.26	-29.51
Net Income, 3 Yr. CAGR %	27.88	48.76	0.36	-90.1	-29.46
Diluted EPS Before Extra, 3 Yr. CAGR %	31.87	50.86	0.6	-90.1	-30.33
Normalized Net Income, 3 Yr. CAGR %	12.72	-14.62	-4.11	4.33	-1.4
Net Property, Plant and Equip., 3 Yr. CAGR %	-12.9	-7.87	-11.64	-6.2	-4.51
Accounts Receivable, 3 Yr. CAGR %	10.72	-10.96	-8.8	-16.66	-17.02
Total Assets, 3 Yr. CAGR %	-12.35	-7.05	-9.66	-3.51	-3.61
Common Equity, 3 Yr. CAGR %	-13.81	-7.46	-7.81	-3.65	-5.44
Tangible Book Value, 3 Yr. CAGR %	-13.84	-7.47	-7.81	-3.63	-5.44
Cash From Operations, 3 Yr. CAGR %	-30.19	-26.34	-13.82	40.02	3.29
Levered Free Cash Flow, 3 Yr. CAGR %	-55.63	-26.78	-0.93	45.91	-8.49
Unlevered Free Cash Flow, 3 Yr. CAGR %	-46.76	-23.32	-1.29	30.03	-3.67
Dividend Per Share, 3 Yr. CAGR %	-20.63	-10.91	12.35	14.88	1.32
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-6.37	-7.23	-6.91	-7.15	-3.59
Gross Profit, 5 Yr. CAGR %	-10.23	-8.57	-4.89	-1.74	-0.76
EBITDA, 5 Yr. CAGR %	-11.28	-10.52	-6.29	-2.1	-1.18
EBITA, 5 Yr. CAGR %	-11.24	-10.41	-6.17	-2.28	-1.34
EBIT, 5 Yr. CAGR %	-11.51	-10.69	-6.22	-2.25	-1.41
Earnings From Cont. Operations, 5 Yr. CAGR %	-4.51	37.41	15.43	-68.45	-21.22
Net Income, 5 Yr. CAGR %	-5.18	37.77	16.06	-67.85	-19.93
Diluted EPS Before Extra, 5 Yr. CAGR %	-1.45	47.68	18.22	-67.56	-20.47
Normalized Net Income, 5 Yr. CAGR %	-4.93	-8.56	11.59	-4.39	-9.47
Net Property, Plant and Equip., 5 Yr. CAGR %	-8.17	-5.09	-9.94	-10.28	-5.75
Accounts Receivable, 5 Yr. CAGR %	9.63	1.76	-4.71	-8.34	-0.7
Total Assets, 5 Yr. CAGR %	-8.55	-6.08	-8.86	-8.24	-4.62
Common Equity, 5 Yr. CAGR %	-8.71	-6.14	-9.84	-8.97	-4.09
Tangible Book Value, 5 Yr. CAGR %	-8.74	-6.16	-9.85	-8.98	-4.08
Cash From Operations, 5 Yr. CAGR %	-12.71	-7.56	-11.34	-7.77	-6.36
Levered Free Cash Flow, 5 Yr. CAGR %	-14.82	-1.93	-24.62	-13.74	-6.52
Unlevered Free Cash Flow, 5 Yr. CAGR %	-10.61	12.45	-21.72	-11.12	-3.93
Dividend Per Share, 5 Yr. CAGR %	-11.91	-5.57	-5.52	-5.96	7.39