# Tritax Big Box REIT plc (BBOX.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Real Estate. Price 152p, market value 4.5 billionp.

## Valuation
- **P/E (trailing): 15.2×** (5-yr avg 1684.0×, 3-yr avg 2094.7×). Tritax Big Box REIT plc trades at 15.2× trailing earnings, well below its own five-year average of 1684.0×: cheap by its own standards. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 16.4×, higher than trailing, so analysts expect earnings to fall.
- **Price / sales: 8.0×**. Each dollar of revenue is priced at 8.0×.
- **Price / book: 0.8×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 12.2×**. Enterprise value is 12.2× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 9.7%** (5-yr avg 0.1%). Free cash flow equals 9.7% of the market value, above its five-year average of 0.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 6.6%**. The inverse of the P/E: 6.6% of the price is earned each year.

## Profitability
- **Gross margin: 93.7%**. Tritax Big Box REIT plc keeps 93.7% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 118.2%**. 118.2% of revenue is left after running the business, an exceptional level.
- **Net margin: 105.5%**. 105.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 7.2%**. 7.2% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 8.7%**. Return on all capital, debt included, is 8.7%.
- **Return on assets: 9.0%**. Each dollar of assets produces 9.0% of profit.

## Growth
- **Revenue growth (1 yr): 17.1%** (5-yr -6.7%/yr). Revenue grew 17.1% over the last year, against -6.7% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -30.0%** (5-yr -11.6%/yr). Earnings per share fell 30.0%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 12.9%/yr**. Free cash flow has compounded at 12.9% a year over three years.

## Financial health
- **Debt to equity: 0.53**. Debt is 0.53 times equity, moderate leverage.
- **Net debt / EBITDA: 4.4×**. It would take 4.4 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 4.4×**. Operating profit covers interest 4.4× over, a safe margin.
- **Current ratio: 2.38** (quick 2.38). Current assets cover the next year's liabilities 2.38 times.
- **Altman Z-score: 1.95**. A Z-score of 1.95 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Tritax Big Box REIT plc does not currently pay a dividend.

## Analyst view
- **Analyst consensus: strong_buy** (13 analysts). 13 analysts cover Tritax Big Box REIT plc; the consensus is strong_buy, with an average price target of 196p (+29% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 12.0%** (YTD 0.6%, 3-mo 6.8%). The shares are up 12.0% over twelve months including dividends.
- **From 52-week high: -12.9%** (13.4% above the low). Trading 13% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 34**. An RSI of 34 is neutral.
- **Beta (1 yr): 1.10** (volatility 23%). Beta of 1.10 against the FTSE All-Share: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=BBOX.L · Page: https://foliofundamentals.com/stocks/bbox.l

Not investment advice.