Projected Income Statement: The British Land Company PLC

Forecast Balance Sheet: The British Land Company PLC

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 2,249 3,458 3,221 3,261 3,637 3,740 3,767 3,837
Change - 53.76% -6.85% 1.24% 11.53% 2.83% 0.72% 1.86%
Announcement Date 26/05/21 18/05/22 17/05/23 22/05/24 22/05/25 - - -
1GBP in Million
Estimates

Cash Flow Forecast: The British Land Company PLC

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 172 259 209 312 216 264.2 302.4 188.5
Change - 50.58% -19.31% 49.28% -30.77% 22.29% 14.49% -37.67%
Free Cash Flow (FCF) 1 -23 -14 31 97 54 31.6 134.3 113.5
Change - 39.13% 321.43% 212.9% -44.33% -41.48% 325.11% -15.51%
Announcement Date 26/05/21 18/05/22 17/05/23 22/05/24 22/05/25 - - -
1GBP in Million
Estimates

Forecast Financial Ratios: The British Land Company PLC

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 59.84% 72.04% 67.34% 69.75% 71.69% 77.59% 78.38% 79.32%
EBIT Margin (%) 59.84% 72.04% 65.92% 68.07% 70.04% 77.91% 78.26% 78.98%
EBT Margin (%) -207.28% 195.51% -209.74% 3.15% 70.66% 76.82% 80.78% 85.05%
Net margin (%) -202.95% 195.51% -210.55% -0.21% 69.83% 95.73% 93.5% 107.46%
FCF margin (%) -4.53% -2.86% 6.29% 20.38% 11.16% 5.9% 23.47% 18.55%
FCF / Net Income (%) 2.23% -1.46% -2.99% -9,700% 15.98% 6.16% 25.11% 17.27%

Profitability

        
ROA -10.25% 2.72% 2.89% -0.01% 4.01% 3.78% 3.91% 4.15%
ROE 2.7% 4.03% 4.29% 7.12% 6.14% 5.36% 5.03% 5.23%

Financial Health

        
Leverage (Debt/EBITDA) 7.4x 9.8x 9.7x 9.82x 10.48x 9x 8.4x 7.91x
Debt / Free cash flow -97.78x -247x 103.9x 33.62x 67.35x 118.37x 28.04x 33.81x

Capital Intensity

        
CAPEX / Current Assets (%) 33.86% 52.86% 42.39% 65.55% 44.63% 49.31% 52.85% 30.82%
CAPEX / EBITDA (%) 56.58% 73.37% 62.95% 93.98% 62.25% 63.55% 67.43% 38.85%
CAPEX / FCF (%) -747.83% -1,850% 674.19% 321.65% 400% 835.94% 225.14% 166.09%

Items per share

        
Cash flow per share 1 0.1607 0.2634 0.2572 0.4379 0.2687 0.2999 0.331 0.3651
Change - 63.88% -2.35% 70.26% -38.64% 11.6% 10.38% 10.31%
Dividend per Share 1 0.1504 0.2192 0.2264 0.228 0.228 0.2305 0.2455 0.2628
Change - 45.74% 3.28% 0.71% 0% 1.11% 6.49% 7.04%
Book Value Per Share 1 6.39 7.161 5.874 5.713 5.715 6.04 6.344 6.784
Change - 12.07% -17.97% -2.74% 0.03% 5.7% 5.03% 6.93%
EPS 1 -1.112 1.03 -1.12 -0.001 0.35 0.5339 0.5047 0.6068
Change - 192.63% -208.74% 99.91% 35,100% 52.55% -5.47% 20.22%
Nbr of stocks (in thousands) 926,708 926,843 927,061 927,490 999,154 999,885 999,885 999,885
Announcement Date 26/05/21 18/05/22 17/05/23 22/05/24 22/05/25 - - -
1GBP
Estimates
2026 *2027 *
P/E ratio 7.59x 8.02x
PBR 0.67x 0.64x
EV / Sales 14.5x 13.7x
Yield 5.69% 6.06%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
4.038GBP
Average target price
4.523GBP
Spread / Average Target
+12.01%

Annual profits - Rate of surprise

  1. Stock Market
  2. Equities
  3. BLND Stock
  4. Financials The British Land Company PLC