# British Land Company Plc (BLND.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price 415p, market value 4.2 billionp.

## Valuation
- **P/E (trailing): 9.2×** (5-yr avg 785.9×, 3-yr avg 922.1×). British Land Company Plc trades at 9.2× trailing earnings, well below its own five-year average of 785.9×: cheap by its own standards. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 12.7×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 0.45**. A PEG of 0.45 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 4.1×**. Each dollar of revenue is priced at 4.1×.
- **Price / book: 0.7×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 8.5×**. Enterprise value is 8.5× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 5.6%** (5-yr avg 0.0%). Free cash flow equals 5.6% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 10.9%**. The inverse of the P/E: 10.9% of the price is earned each year.

## Profitability
- **Gross margin: 73.8%**. British Land Company Plc keeps 73.8% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 52.1%**. 52.1% of revenue is left after running the business, an exceptional level.
- **Net margin: 86.5%**. 86.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 7.7%**. 7.7% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 6.1%**. Return on all capital, debt included, is 6.1%.
- **Return on assets: 8.5%**. Each dollar of assets produces 8.5% of profit.

## Growth
- **Revenue growth (1 yr): 15.6%** (3-yr 7.9%/yr, 5-yr 0.2%/yr). Revenue grew 15.6% over the last year, against 0.2% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 28.6%**. Earnings per share rose 28.6%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 81.4%/yr**. Free cash flow has compounded at 81.4% a year over three years.

## Financial health
- **Debt to equity: 0.52**. Debt is 0.52 times equity, moderate leverage.
- **Net debt / EBITDA: 3.4×**. It would take 3.4 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 2.9×**. Operating profit covers interest 2.9×, thin but manageable.
- **Current ratio: 0.15** (quick 0.10). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 1.73**. A Z-score of 1.73 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 5.53%** (0p per share, trailing). British Land Company Plc yields 5.53%, an income-level yield.
- **Payout ratio: 50%** (188% of free cash flow). 50% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 1**. 1 straight year of increases.
- **Dividend growth (5 yr): 23.4%/yr** (1-yr 0.0%). The dividend has compounded at 23.4% a year over five years, doubling roughly every 3 years at that pace.
- **Shareholder yield: -1.4%**. Dividends plus net buybacks return -1.4% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (15 analysts). 15 analysts cover British Land Company Plc; the consensus is buy, with an average price target of 459p (+11% 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): 23.4%** (YTD 2.8%, 3-mo 4.4%). The shares are up 23.4% over twelve months including dividends.
- **From 52-week high: -8.2%** (25.0% above the low). Trading 8% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 37**. An RSI of 37 is neutral.
- **Beta (1 yr): 1.22** (volatility 24%). Beta of 1.22 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.