# Schroder Real Estate Investment Trust (SREI.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Real Estate. Price 44p, market value 216 millionp.

## Valuation
- **P/E (trailing): 14.7×** (5-yr avg 2378.0×, 3-yr avg 3063.9×). Schroder Real Estate Investment Trust trades at 14.7× trailing earnings, well below its own five-year average of 2378.0×: cheap by its own standards. The Real Estate median in the September 2026 study was 25.2×.
- **Price / sales: 3.3×**. Each dollar of revenue is priced at 3.3×.
- **Price / book: 0.7×**. The shares trade below book value, which can signal a bargain or a balance sheet the market doubts.
- **EV / EBITDA: 6.8×**. Enterprise value is 6.8× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 16.3%** (5-yr avg 0.1%). Free cash flow equals 16.3% 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: 6.8%**. The inverse of the P/E: 6.8% of the price is earned each year.

## Profitability
- **Gross margin: 89.6%**. Schroder Real Estate Investment Trust keeps 89.6% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 84.8%**. 84.8% of revenue is left after running the business, an exceptional level.
- **Net margin: 47.4%**. 47.4% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.7%**. 4.7% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 11.8%**. Return on all capital, debt included, is 11.8%.
- **Return on assets: 9.1%**. Each dollar of assets produces 9.1% of profit.

## Growth
- **Revenue growth (1 yr): -19.1%** (3-yr 5.5%/yr, 5-yr 6.5%/yr). Revenue fell 19.1% over the last year, against 6.5% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -54.4%** (5-yr 26.4%/yr). Earnings per share fell 54.4%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -2.0%/yr**. Free cash flow has compounded at -2.0% a year over three years.

## Financial health
- **Debt to equity: 0.63**. Debt is 0.63 times equity, moderate leverage.
- **Net debt / EBITDA: 3.0×**. It would take 3.0 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 4.4×**. Operating profit covers interest 4.4× over, a safe margin.
- **Altman Z-score: 1.74**. A Z-score of 1.74 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 8.25%** (0p per share, trailing). Schroder Real Estate Investment Trust yields 8.25%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 125%** (98% of free cash flow). The dividend exceeds earnings (125% payout), though free cash flow still covers it.
- **Consecutive years of increases: 5**. 5 straight years of increases.
- **Dividend growth (5 yr): 15.7%/yr** (1-yr 4.9%). The dividend has compounded at 15.7% a year over five years, doubling roughly every 5 years at that pace.
- **Shareholder yield: 8.3%**. Dividends plus net buybacks return 8.3% of the market value a year.

## Price and momentum
- **Total return (1 yr): -10.8%** (YTD -19.9%, 3-mo -7.9%). The shares are down 10.8% over twelve months including dividends.
- **From 52-week high: -25.3%** (7.0% above the low). Trading 25% 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): 45**. An RSI of 45 is neutral.
- **Beta (1 yr): 0.76** (volatility 23%). Beta of 0.76 against the FTSE All-Share: the shares move roughly with the market.

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

Not investment advice.