# LondonMetric Property Plc (LMP.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price 182p, market value 4.3 billionp.

## Valuation
- **P/E (trailing): 14.0×** (5-yr avg 1167.8×, 3-yr avg 1439.5×). LondonMetric Property Plc trades at 14.0× trailing earnings, well below its own five-year average of 1167.8×: cheap by its own standards. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 12.2×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 4.9×**. Each dollar of revenue is priced at 4.9×.
- **Price / book: 0.9×**. 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: 13.0%** (5-yr avg 0.1%). Free cash flow equals 13.0% 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: 7.1%**. The inverse of the P/E: 7.1% of the price is earned each year.

## Profitability
- **Gross margin: 98.5%**. LondonMetric Property Plc keeps 98.5% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 101.5%**. 101.5% of revenue is left after running the business, an exceptional level.
- **Net margin: 63.6%**. 63.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 6.3%**. 6.3% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 11.6%**. Return on all capital, debt included, is 11.6%.
- **Return on assets: 7.9%**. Each dollar of assets produces 7.9% of profit.

## Growth
- **Revenue growth (1 yr): 17.1%** (3-yr 50.5%/yr, 5-yr 30.6%/yr). Revenue grew 17.1% over the last year, against 30.6% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -23.5%** (5-yr -14.2%/yr). Earnings per share fell 23.5%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 40.7%/yr**. Free cash flow has compounded at 40.7% a year over three years.

## Financial health
- **Debt to equity: 0.63**. Debt is 0.63 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: 9.6×**. Operating profit covers interest 9.6× over, a safe margin.
- **Current ratio: 1.78** (quick 1.78). Current assets cover the next year's liabilities 1.78 times.
- **Altman Z-score: 1.80**. A Z-score of 1.80 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend yield: 6.83%** (0p per share, trailing). LondonMetric Property Plc yields 6.83%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 83%** (77% of free cash flow). 83% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 9**. 9 straight years of increases.
- **Dividend growth (5 yr): 7.8%/yr** (1-yr 11.7%). The dividend has grown 7.8% a year over five years.
- **Shareholder yield: 7.4%**. Dividends plus net buybacks return 7.4% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (8 analysts). 8 analysts cover LondonMetric Property Plc; the consensus is buy, with an average price target of 227p (+25% 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): 1.5%** (YTD -3.4%, 3-mo 2.4%). The shares are up 1.5% over twelve months including dividends.
- **From 52-week high: -15.7%** (3.9% above the low). Trading 16% 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): 33**. An RSI of 33 is neutral.
- **Beta (1 yr): 0.93** (volatility 18%). Beta of 0.93 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.