# SEGRO Plc (SGRO.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price 941p, market value 12.7 billionp.

## Valuation
- **P/E (trailing): 23.0×** (5-yr avg 1246.0×, 3-yr avg 1656.8×). SEGRO Plc trades at 23.0× trailing earnings, well below its own five-year average of 1246.0×: cheap by its own standards. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 23.2×, higher than trailing, so analysts expect earnings to fall.
- **Price / sales: 10.4×**. Each dollar of revenue is priced at 10.4×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 1.1×**. The shares trade at 1.1× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 18.5×**. Enterprise value is 18.5× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 4.7%** (5-yr avg 0.0%). Free cash flow equals 4.7% 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: 4.4%**. The inverse of the P/E: 4.4% of the price is earned each year.

## Profitability
- **Gross margin: 76.6%**. SEGRO Plc keeps 76.6% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 74.5%**. 74.5% of revenue is left after running the business, an exceptional level.
- **Net margin: 75.9%**. 75.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.5%**. 4.5% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 5.1%**. Return on all capital, debt included, is 5.1%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 5.6%**. Each dollar of assets produces 5.6% of profit.

## Growth
- **Revenue growth (1 yr): 7.6%** (3-yr 2.8%/yr, 5-yr 11.0%/yr). Revenue grew 7.6% over the last year, against 11.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -8.9%** (5-yr -19.9%/yr). Earnings per share fell 8.9%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 21.6%/yr**. Free cash flow has compounded at 21.6% a year over three years.

## Financial health
- **Debt to equity: 0.41**. Debt is 0.41 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 5.2×**. It would take 5.2 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 4.2×**. Operating profit covers interest 4.2× over, a safe margin.
- **Current ratio: 0.56** (quick 0.56). 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: 2.35**. A Z-score of 2.35 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.35%** (0p per share, trailing). SEGRO Plc yields 3.35%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 74%** (94% of free cash flow). 74% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 16**. 16 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 7.0%/yr** (1-yr 6.0%). The dividend has grown 7.0% a year over five years.
- **Shareholder yield: 3.4%**. Dividends plus net buybacks return 3.4% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (11 analysts). 11 analysts cover SEGRO Plc; the consensus is buy, with an average price target of 992p (+5% 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): 50.3%** (YTD 31.0%, 3-mo 33.1%). The shares are up 50.3% over twelve months including dividends.
- **From 52-week high: -5.6%** (54.8% above the low). Trading 6% 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): 48**. An RSI of 48 is neutral.
- **Beta (1 yr): 1.31** (volatility 31%). Beta of 1.31 against the FTSE All-Share: the shares move much more than the market.

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

Not investment advice.