# Picton Property Income Limited (PCTN.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price 72p, market value 370 millionp.

## Valuation
- **P/E (trailing): 14.5×** (5-yr avg 985.0×, 3-yr avg 1295.8×). Picton Property Income Limited trades at 14.5× trailing earnings, well below its own five-year average of 985.0×: cheap by its own standards. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 15.5×, higher than trailing, so analysts expect earnings to fall.
- **Price / sales: 3.5×**. Each dollar of revenue is priced at 3.5×.
- **Price / book: 0.8×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 8.8×**. Enterprise value is 8.8× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 10.2%** (5-yr avg 0.1%). Free cash flow equals 10.2% 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: 6.9%**. The inverse of the P/E: 6.9% of the price is earned each year.

## Profitability
- **Gross margin: 69.5%**. Picton Property Income Limited keeps 69.5% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 69.6%**. 69.6% of revenue is left after running the business, an exceptional level.
- **Net margin: 50.6%**. 50.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 5.0%**. 5.0% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 10.6%**. Return on all capital, debt included, is 10.6%.
- **Return on assets: 8.4%**. Each dollar of assets produces 8.4% of profit.

## Growth
- **Revenue growth (1 yr): -5.5%** (5-yr 0.5%/yr). Revenue fell 5.5% over the last year, against 0.5% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -27.2%** (5-yr -4.2%/yr). Earnings per share fell 27.2%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -17.7%/yr**. Free cash flow has compounded at -17.7% a year over three years.

## Financial health
- **Debt to equity: 0.40**. Debt is 0.40 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 2.7×**. It would take 2.7 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 17.3×**. Operating profit covers interest 17.3× over, a safe margin.
- **Current ratio: 42.16** (quick 42.16). Current assets cover the next year's liabilities 42.16 times.
- **Altman Z-score: 2.24**. A Z-score of 2.24 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.83%** (0p per share, trailing). Picton Property Income Limited yields 3.83%, an income-level yield.
- **Payout ratio: 76%** (106% of free cash flow). 76% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 5**. 5 straight years of increases.
- **Dividend growth (5 yr): 6.0%/yr** (1-yr 3.4%). The dividend has grown 6.0% a year over five years.
- **Shareholder yield: 11.2%**. Dividends plus net buybacks return 11.2% of the market value a year.

## Price and momentum
- **Total return (1 yr): -0.4%** (YTD -0.9%, 3-mo 3.5%). The shares are down 0.4% over twelve months including dividends.
- **From 52-week high: -20.4%** (6.7% above the low). Trading 20% 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): 56**. An RSI of 56 is neutral.
- **Beta (1 yr): 0.84** (volatility 20%). Beta of 0.84 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.