# Bellway p.l.c. (BWY.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Industrials / Construction & Engineering. Price 2070p, market value 2.3 billionp.

## Valuation
- **P/E (trailing): 15.7×** (5-yr avg 1508.8×, 3-yr avg 1753.9×). Bellway p.l.c. trades at 15.7× trailing earnings, well below its own five-year average of 1508.8×: cheap by its own standards. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 12.6×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.60**. A PEG of 0.60 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 0.4×**. Each dollar of revenue is priced at 0.4×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 0.7×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 5.2×**. Enterprise value is 5.2× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 2.7%** (5-yr avg 0.0%). Free cash flow equals 2.7% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 6.4%**. The inverse of the P/E: 6.4% of the price is earned each year.

## Profitability
- **Gross margin: 16.0%**. Bellway p.l.c. keeps 16.0% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 10.1%**. 10.1% of revenue is left after running the business.
- **Net margin: 5.7%**. 5.7% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.4%**. 4.4% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 10.0%**. Return on all capital, debt included, is 10.0%.
- **Return on assets: 5.8%**. Each dollar of assets produces 5.8% of profit.

## Growth
- **Revenue growth (1 yr): 16.9%** (3-yr -7.7%/yr, 5-yr 4.6%/yr). Revenue grew 16.9% over the last year, against 4.6% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 21.1%** (3-yr -12.3%/yr, 5-yr -3.3%/yr). Earnings per share rose 21.1%, roughly in step with revenue.
- **Free-cash-flow growth (3 yr): 30.2%/yr**. Free cash flow has compounded at 30.2% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.14**. Debt is 0.14 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.6×**. It would take 0.6 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 12.4×**. Operating profit covers interest 12.4× over, a safe margin.
- **Current ratio: 4.77** (quick 0.24). Current assets cover the next year's liabilities 4.77 times.
- **Altman Z-score: 3.47**. A Z-score of 3.47 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.43%** (1p per share, trailing). Bellway p.l.c. yields 3.43%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 44%** (237% of free cash flow). 44% 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): 7.0%/yr** (1-yr 29.6%). The dividend has grown 7.0% a year over five years.
- **Shareholder yield: 5.7%**. Dividends plus net buybacks return 5.7% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (17 analysts). 17 analysts cover Bellway p.l.c.; the consensus is buy, with an average price target of 2370p (+14% 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): -10.6%** (YTD -23.5%, 3-mo 19.5%). The shares are down 10.6% over twelve months including dividends.
- **From 52-week high: -28.4%** (20.7% above the low). Trading 28% 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): 50**. An RSI of 50 is neutral.
- **Beta (1 yr): 1.39** (volatility 37%). Beta of 1.39 against the FTSE All-Share: the shares move much more than the market.

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

Not investment advice.