Financial Ratios The British Land Company PLC

Stocks

BLND

GB0001367019

Diversified REITs

Market Closed - London S.E. Other stock markets 19:35:27 12/06/2026 +04			5-day change	1st Jan Change
418.00 ^GBX	+2.00%		+4.76%	+3.52%

06-05	British Land Co directors buy over GBP174,150 in shares	AN
06-03	RBC cuts Rio Tinto; Goldman likes Relx, not WPP	AN

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Published financial data: THE BRITISH LAND COMPANY PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022	2023	2024	2025	2026
Rental Revenues	410M	418M	575M	454M	523M
Other Revenues, Total	82M	100M	95M	98M	93M
Total Revenues	492M	518M	670M	552M	616M
Property Expenses	129M	97M	146M	123M	147M
Selling General & Admin Expenses, Total	88M	88M	85M	82M	76M
Total Operating Expenses	217M	185M	231M	205M	223M
Operating Income (REIT / Utility Template)	275M	333M	439M	347M	393M
Interest Expense, Total	-84M	-90M	-107M	-112M	-122M
Interest and Investment Income	-	2M	1M	2M	2M
Net Interest Expenses	-84M	-88M	-106M	-110M	-120M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	77M	116M	10M	7M	3M
EBT, Excl. Unusual Items	268M	361M	343M	244M	276M
Gain (Loss) on Sale of Investments	162M	-567M	-174M	-8M	95M
Gain (Loss) on Sale of Assets	57M	-30M	-23M	-42M	-28M
Asset Writedown	471M	-798M	-131M	148M	107M
EBT, Incl. Unusual Items	958M	-1.03B	15M	342M	450M
Income Tax Expense	-2M	5M	14M	4M	-4M
Earnings From Continuing Operations	960M	-1.04B	1M	338M	454M
Net Income to Company	960M	-1.04B	1M	338M	454M
Minority Interest	-2M	1M	-2M	-	-
Net Income - (IS)	958M	-1.04B	-1M	338M	454M
Net Income to Common Incl Extra Items	958M	-1.04B	-1M	338M	454M
Net Income to Common Excl. Extra Items	958M	-1.04B	-1M	338M	454M
Per Share Items
Net EPS - Basic	1.03	-1.12	-0	0.35	0.45
Basic EPS - Continuing Operations	1.03	-1.12	-0	0.35	0.45
Basic Weighted Average Shares Outstanding	927M	927M	927M	962M	1B
Net EPS - Diluted	1.03	-1.12	-0	0.35	0.45
Diluted EPS - Continuing Operations	1.03	-1.12	-0	0.35	0.45
Diluted Weighted Average Shares Outstanding	930M	927M	927M	965M	1B
Normalized Basic EPS	0.18	0.24	0.23	0.16	0.17
Normalized Diluted EPS	0.18	0.24	0.23	0.16	0.17
Dividend Per Share	0.22	0.23	0.23	0.23	0.23
Payout Ratio	16.18	-20.52	-21.3K	65.09	50.44
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	280M	336M	447M	355M	398M
EBITA	280M	336M	442M	351M	395M
EBIT	275M	333M	439M	347M	393M
Effective Tax Rate - (Ratio)	-0.21	-0.48	93.33	1.17	-0.89
Current Domestic Taxes	-2M	1M	13M	5M	-2M
Total Current Taxes	-2M	1M	13M	5M	-2M
Deferred Domestic Taxes	-	4M	1M	-1M	-2M
Total Deferred Taxes	-	4M	1M	-1M	-2M
Normalized Net Income	166M	227M	212M	152M	172M
Interest Capitalized	7M	13M	25M	33M	26M
Interest on Long-Term Debt	3M	3M	3M	3M	3M
Non-Cash Pension Expense	0	-2M	-1M	-1M	-1M
Supplemental Operating Expense Items
General and Administrative Expenses	88M	88M	85M	82M	76M
Stock-Based Comp., Other (Total)	7M	7M	5M	4M	5M
Total Stock-Based Compensation	7M	7M	5M	4M	5M

Fiscal Period: March	2022	2023	2024	2025	2026
Assets
Net Property Plant And Equipment	7.06B	5.7B	5.25B	6.15B	6.41B
Total Real Estate Assets	7.06B	5.7B	5.25B	6.15B	6.41B
Cash And Equivalents	74M	125M	88M	57M	176M
Accounts Receivable, Total	24M	22M	22M	28M	21M
Other Receivables	3M	2M	-	-	-
Investment In Debt and Equity Securities	757M	981M	1.19B	1.24B	1.18B
Other Intangibles, Total	9M	8M	8M	7M	5M
Other Current Assets, Total	33M	34M	34M	52M	35M
Trading Asset Securities, Total	-	-	20M	9M	26M
Deferred Tax Assets Long-Term (Collected)	-	-	-	-	-
Other Long-Term Assets, Total	1.88B	1.42B	1.36B	1.33B	1.5B
Total Assets	9.84B	8.29B	7.97B	8.88B	9.36B
Liabilities
Current Portion of Long-Term Debt	189M	402M	10M	313M	247M
Current Portion of Leases	6M	6M	6M	7M	7M
Short-Term Borrowings	-	-	-	-	274M
Long-Term Debt	2.52B	1.93B	2.26B	2.47B	2.52B
Long-Term Leases	125M	120M	121M	107M	102M
Accounts Payable, Total	74M	113M	85M	69M	67M
Accrued Expenses, Total	95M	60M	97M	104M	116M
Current Income Taxes Payable	-	25M	8M	6M	3M
Unearned Revenue, Current	66M	52M	42M	47M	46M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	4M	26M	30M	36M	45M
Unearned Revenue Non Current	27M	25M	-	-	-
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non-Current	-	4M	5M	3M	1M
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	3.11B	2.76B	2.66B	3.16B	3.43B
Common Stock, Total	234M	234M	235M	253M	253M
Additional Paid In Capital	1.31B	1.31B	1.31B	1.59B	1.59B
Retained Earnings	4.96B	3.74B	3.53B	3.64B	3.87B
Comprehensive Income and Other	218M	228M	226M	226M	221M
Total Common Equity	6.72B	5.51B	5.3B	5.71B	5.93B
Minority Interest	15M	13M	13M	-	-
Total Equity	6.73B	5.52B	5.31B	5.71B	5.93B
Total Liabilities And Equity	9.84B	8.29B	7.97B	8.88B	9.36B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	927M	927M	927M	999M	1B
ECS Total Common Shares Outstanding	927M	927M	927M	999M	1B
Book Value / Share	7.25	5.95	5.71	5.71	5.93
Tangible Book Value	6.71B	5.5B	5.29B	5.7B	5.93B
Tangible Book Value Per Share	7.24	5.94	5.7	5.71	5.93
Total Debt	2.84B	2.46B	2.4B	2.9B	3.15B
Net Debt	2.77B	2.34B	2.29B	2.83B	2.95B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-53M	-30M	-23M	-19M	-22M
Minority Interest, Total (Incl. Fin. Div)	15M	13M	13M	-	-
Equity Method Investments, Total	1.88B	1.42B	1.36B	1.33B	1.5B
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	636	647	704	691	611
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	57M	27M	11M	12M	13M

Fiscal Period: March	2022	2023	2024	2025	2026
Net Income	958M	-1.04B	-1M	338M	454M
Depreciation, Depletion & Amortization	-	-	5M	4M	3M
Amortization of Goodwill and Intangible Assets - (CF)	5M	3M	3M	4M	2M
Total Depreciation, Depletion & Amortization	5M	3M	8M	8M	5M
(Income) Loss On Equity Investments - (CF)	57M	73M	77M	72M	61M
Other Operating Activities	-775M	1.2B	325M	-148M	-211M
Cash from Operations	245M	240M	409M	270M	309M
Acquisition of Real Estate Assets, Total	-855M	-364M	-370M	-942M	-207M
Sale of Real Estate Assets, Total	477M	694M	390M	292M	81M
Net Sale / Acquisition of Real Estate Assets	-378M	330M	20M	-650M	-126M
Investment in Marketable and Equity Securities, Total	-135M	-133M	-193M	-294M	-275M
Other Investing Activities, Total	128M	129M	1M	91M	199M
Cash from Investing	-385M	326M	-172M	-853M	-202M
Long-Term Debt Issued, Total	483M	324M	361M	633M	605M
Total Debt Issued	483M	324M	361M	633M	605M
Long-Term Debt Repaid, Total	-217M	-641M	-390M	-135M	-343M
Total Debt Repaid	-217M	-641M	-390M	-135M	-343M
Issuance of Common Stock	-	-	1M	295M	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-155M	-213M	-213M	-220M	-229M
Common & Preferred Stock Dividends Paid	-155M	-213M	-213M	-220M	-229M
Other Financing Activities, Total	-51M	-22M	-33M	-21M	-21M
Cash from Financing	60M	-552M	-274M	552M	12M
Net Change in Cash	-80M	14M	-37M	-31M	119M
Supplemental Items
Cash Interest Paid	62M	71M	51M	57M	76M
Cash Income Tax Paid (Refund)	6M	-	6M	7M	1M
Net Debt Issued / Repaid	266M	-317M	-29M	498M	262M
Levered Free Cash Flow	171M	189M	208M	135M	218M
Unlevered Free Cash Flow	224M	245M	275M	205M	295M
Change In Net Working Capital	-40M	-27M	12M	24M	-39M

Fiscal Period: March	2022	2023	2024	2025	2026
Profitability
Return on Assets	1.84	2.29	3.37	2.57	2.69
Return on Total Capital	1.89	2.37	3.5	2.66	2.78
Return On Equity %	15.1	-16.9	0.02	6.13	7.8
Return on Common Equity	15.16	-16.93	-0.02	6.14	7.8
Margin Analysis
Gross Profit Margin %	73.78	81.27	78.21	77.72	76.14
SG&A Margin	17.89	16.99	12.69	14.86	12.34
EBITDA Margin %	56.91	64.86	66.72	64.31	64.61
EBITA Margin %	56.91	64.86	65.97	63.59	64.12
EBIT Margin %	55.89	64.29	65.52	62.86	63.8
Income From Continuing Operations Margin %	195.12	-200.58	0.15	61.23	73.7
Net Income Margin %	194.72	-200.39	-0.15	61.23	73.7
Net Avail. For Common Margin %	194.72	-200.39	-0.15	61.23	73.7
Normalized Net Income Margin	33.64	43.75	31.7	27.63	28
Levered Free Cash Flow Margin	34.83	36.46	31.12	24.43	35.45
Unlevered Free Cash Flow Margin	45.5	47.32	41.1	37.12	47.83
Asset Turnover
Asset Turnover	0.05	0.06	0.08	0.07	0.07
Fixed Assets Turnover	0.07	0.08	0.12	0.1	0.1
Receivables Turnover (Average Receivables)	13.23	11.77	26.14	18.16	21.35
Short Term Liquidity
Current Ratio	0.31	0.27	0.59	0.25	0.32
Quick Ratio	0.23	0.22	0.47	0.16	0.28
Operating Cash Flow to Current Liabilities	0.56	0.35	1.47	0.46	0.38
Days Sales Outstanding (Average Receivables)	27.6	31	14	20.1	17.1
Average Days Payable Outstanding	182.5	351.83	248.18	228.5	168.84
Long Term Solvency
Total Debt/Equity	42.22	44.52	45.09	50.79	53.1
Total Debt / Total Capital	29.69	30.81	31.08	33.68	34.68
LT Debt/Equity	39.33	37.14	44.79	45.18	44.2
Long-Term Debt / Total Capital	27.65	25.7	30.87	29.97	28.87
Total Liabilities / Total Assets	31.59	33.35	33.38	35.66	36.62
EBIT / Interest Expense	3.27	3.7	4.1	3.1	3.22
EBITDA / Interest Expense	3.33	3.73	4.18	3.17	3.26
(EBITDA - Capex) / Interest Expense	3.33	3.73	4.18	3.17	3.26
Total Debt / EBITDA	10.15	7.32	5.36	8.17	7.91
Net Debt / EBITDA	9.89	6.95	5.12	7.98	7.41
Total Debt / (EBITDA - Capex)	10.15	7.32	5.36	8.17	7.91
Net Debt / (EBITDA - Capex)	9.89	6.95	5.12	7.98	7.41
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-5.38	5.28	29.34	-17.61	11.59
Gross Profit, 1 Yr. Growth %	6.76	17.27	24.47	-18.13	9.32
EBITDA, 1 Yr. Growth %	3.7	21.74	31.47	-20.58	12.11
EBITA, 1 Yr. Growth %	3.7	21.74	31.55	-20.59	12.54
EBIT, 1 Yr. Growth %	3.38	22.88	31.83	-20.96	13.26
Earnings From Cont. Operations, 1 Yr. Growth %	-188.64	-207.67	-100.1	33.7K	34.32
Net Income, 1 Yr. Growth %	-192.92	-207.79	-99.9	-33.9K	34.32
Diluted EPS Before Extra, 1 Yr. Growth %	-192.61	-208.21	-99.9	-32.57K	29.43
Normalized Net Income, 1 Yr. Growth %	-11.5	39.03	-6.29	-28.19	13.11
Net Property, Plant and Equip., 1 Yr. Growth %	11.03	-19.27	-7.91	17.11	4.33
Accounts Receivable, 1 Yr. Growth %	-36.84	-55.1	0	27.27	-25
Total Assets, 1 Yr. Growth %	10.9	-16.35	-3.81	11.3	5.46
Common Equity, 1 Yr. Growth %	13.4	-18.38	-3.86	7.76	3.89
Tangible Book Value, 1 Yr. Growth %	13.48	-18.39	-3.87	7.79	3.93
Cash From Operations, 1 Yr. Growth %	64.43	-2.04	70.42	-33.99	14.44
Levered Free Cash Flow, 1 Yr. Growth %	155.31	4.42	8.1	-35.31	61.91
Unlevered Free Cash Flow, 1 Yr. Growth %	78.74	5.03	10.54	-25.6	43.81
Dividend Per Share, 1 Yr. Growth %	45.74	3.28	0.71	0	1.4
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-14.31	-0.19	16.7	3.23	-4.11
Gross Profit, 2 Yr. CAGR %	-10.38	11.28	20.81	0.95	-5.39
EBITDA, 2 Yr. CAGR %	-14.5	11.55	27.26	2.18	-5.64
EBITA, 2 Yr. CAGR %	-14.39	11.55	26.55	2.21	-5.47
EBIT, 2 Yr. CAGR %	-14.82	11.89	27.28	2.08	-5.38
Earnings From Cont. Operations, 2 Yr. CAGR %	-7.17	-2.05	-96.78	-42.96	2.03K
Net Income, 2 Yr. CAGR %	-3.42	0.34	-96.78	-42.94	2.03K
Diluted EPS Before Extra, 2 Yr. CAGR %	-3.23	0.35	-96.77	-44.1	1.95K
Normalized Net Income, 2 Yr. CAGR %	-19.75	10.09	14.15	-17.97	-9.88
Net Property, Plant and Equip., 2 Yr. CAGR %	-7.57	-5.32	-13.78	3.85	10.54
Accounts Receivable, 2 Yr. CAGR %	-9.03	-23.91	-32.99	12.82	-2.3
Total Assets, 2 Yr. CAGR %	-6.45	-3.35	-10.3	3.47	8.34
Common Equity, 2 Yr. CAGR %	-2.28	-3.54	-11.42	1.78	5.8
Tangible Book Value, 2 Yr. CAGR %	-2.27	-3.51	-11.43	1.79	5.84
Cash From Operations, 2 Yr. CAGR %	-19.17	26.91	29.2	6.07	-13.08
Levered Free Cash Flow, 2 Yr. CAGR %	-6.07	67.74	7.37	-16.38	2.34
Unlevered Free Cash Flow, 2 Yr. CAGR %	-6.28	39.9	8.63	-9.31	3.44
Dividend Per Share, 2 Yr. CAGR %	17.18	22.69	1.99	0.35	0.7
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-20.28	-8.22	8.82	3.91	5.95
Gross Profit, 3 Yr. CAGR %	-14.06	-2.34	15.51	6.12	3.66
EBITDA, 3 Yr. CAGR %	-17.41	-4.27	18.3	8.75	5.39
EBITA, 3 Yr. CAGR %	-17.35	-4.19	17.86	8.34	5.54
EBIT, 3 Yr. CAGR %	-17.63	-4.22	18.18	8.59	5.68
Earnings From Cont. Operations, 3 Yr. CAGR %	44.22	-2.3	-90.26	-29.51	-24.12
Net Income, 3 Yr. CAGR %	48.76	0.36	-90.1	-29.46	-24.09
Diluted EPS Before Extra, 3 Yr. CAGR %	50.86	0.6	-90.1	-30.33	-26.05
Normalized Net Income, 3 Yr. CAGR %	-14.62	-4.11	4.33	-2.2	-8.7
Net Property, Plant and Equip., 3 Yr. CAGR %	-7.87	-11.64	-6.2	-4.51	4.01
Accounts Receivable, 3 Yr. CAGR %	-10.96	-8.8	-16.66	-17.02	-1.54
Total Assets, 3 Yr. CAGR %	-7.05	-9.66	-3.51	-3.61	4.13
Common Equity, 3 Yr. CAGR %	-7.46	-7.81	-3.65	-5.44	2.48
Tangible Book Value, 3 Yr. CAGR %	-7.47	-7.81	-3.63	-5.44	2.5
Cash From Operations, 3 Yr. CAGR %	-26.34	-13.82	40.02	3.29	8.79
Levered Free Cash Flow, 3 Yr. CAGR %	-26.78	-0.93	45.91	-9.32	4.23
Unlevered Free Cash Flow, 3 Yr. CAGR %	-23.32	-1.29	30.03	-4.25	5.75
Dividend Per Share, 3 Yr. CAGR %	-10.91	12.35	14.88	1.32	0.7
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-7.23	-6.91	-7.15	-3.8	3.45
Gross Profit, 5 Yr. CAGR %	-8.57	-4.89	-1.74	-1.04	6.64
EBITDA, 5 Yr. CAGR %	-10.52	-6.29	-2.1	-1.51	8.07
EBITA, 5 Yr. CAGR %	-10.41	-6.17	-2.28	-1.68	7.91
EBIT, 5 Yr. CAGR %	-10.69	-6.22	-2.25	-1.75	8.12
Earnings From Cont. Operations, 5 Yr. CAGR %	37.41	15.43	-68.45	-21.22	-15.96
Net Income, 5 Yr. CAGR %	37.77	16.06	-67.85	-19.93	-15.13
Diluted EPS Before Extra, 5 Yr. CAGR %	47.68	18.22	-67.56	-20.47	-16.44
Normalized Net Income, 5 Yr. CAGR %	-8.56	11.59	-4.39	-9.91	-1.6
Net Property, Plant and Equip., 5 Yr. CAGR %	-5.09	-9.94	-10.28	-5.75	0.17
Accounts Receivable, 5 Yr. CAGR %	1.76	-4.71	-8.34	-0.7	-11.18
Total Assets, 5 Yr. CAGR %	-6.08	-8.86	-8.24	-4.62	1.07
Common Equity, 5 Yr. CAGR %	-6.14	-9.84	-8.97	-4.09	0.03
Tangible Book Value, 5 Yr. CAGR %	-6.16	-9.85	-8.98	-4.08	0.05
Cash From Operations, 5 Yr. CAGR %	-7.56	-11.34	-7.77	-6.36	15.71
Levered Free Cash Flow, 5 Yr. CAGR %	-1.93	-24.62	-13.74	-7.04	26.61
Unlevered Free Cash Flow, 5 Yr. CAGR %	12.45	-21.72	-11.12	-4.27	18.66
Dividend Per Share, 5 Yr. CAGR %	-5.57	-5.52	-5.96	7.39	8.98