Great Portland Estates (GPOR)

Sector:

Property Investment Trusts

Index:

FTSE 250

741.50p
   
  • Change Today:
    -5.50p
  • 52 Week High: 755.50p
  • 52 Week Low: 543.00p
  • Currency: UK Pounds
  • Shares Issued: 253.87m
  • Volume: 191,459
  • Market Cap: £1,882.43m
  • RiskGrade: 123

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14 31-Mar-13
Annualisation Factor 1.0 0.2 1.0 1.0 1.0
Dividend Yield 1.8% 1.6% 1.2% 1.5% 1.8%
           
Continuing Operations          
PE Ratio - Adjusted 31.0 38.3 58.5 53.7 68.4
PE Ratio - Diluted 34.1
30.5
43.7
46.6
5.2
43.4
4.9
173.2
8.5
79.2
PEG - Adjusted 2.4 1.8 3.3 0.9 3.0
PEG - Diluted 2.0
0.8
n/a
n/a
0.3
0.1
0.0
n/a
0.8
0.9
Return on Capital Employed n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Operating Margin 49.56%
55.41%
49.73%
45.02%
636.21%
66.82%
528.41%
63.56%
328.76%
141.71%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 31.0 153.2 58.5 53.7 68.4
PE Ratio - Diluted 34.1
30.5
174.7
186.5
5.2
43.4
4.9
173.2
8.5
79.2
PEG - Adjusted 0.1 n/a 3.3 0.9 3.0
PEG - Diluted 0.1
0.1
n/a
n/a
0.3
0.1
0.0
n/a
0.8
0.9

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14 31-Mar-13
Net Gearing 17.92% 8.54% 27.72% 33.38% 45.53%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14 31-Mar-13
Price/Book Value 0.8 0.9 1.4 1.3 1.2
Price/Tangible Book Value 0.8 0.9 1.4 1.3 1.2
Price/ Cash Flow 47.9 77.9 399.3 147.6 148.1
Price/Revenue 18.03 74.88 49.00 36.01 35.25
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 811.86p 820.02p 697.57p 564.81p 479.09p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14 31-Mar-13
Continuing Operations          
Revenue 102.50 28.08 66.00 69.70 52.50
EBITDA 50.80
56.80
13.97
12.64
420.20
44.40
368.30
44.30
172.60
74.40
Depreciation n/a
n/a
n/a
n/a
(0.30)
(0.30)
n/a
n/a
n/a
n/a
Net Interest 0.80
0.80
0.05
0.05
2.80
24.50
(51.70)
(37.10)
(53.20)
(53.20)
Profit Before Tax 51.60
57.60
14.02
12.69
507.40
74.10
422.20
14.60
180.60
23.60
           
Revenue per Share 37.77p 9.97p 19.26p 20.38p 16.36p
Pre-Tax Profit per Share 19.02p
21.23p
4.98p
4.51p
148.04p
21.62p
123.44p
4.27p
56.27p
7.35p
Market Capitalisation £ (Millions) 1,729.35 2,025.75 3,218.45 2,511.32 1,966.28
Enterprise Value (EV) £ (Millions) 2,218.65 2,356.85 3,768.75 3,070.62 2,672.68
EBITDA/EV 2.29%
2.56%
0.59%
0.54%
11.15%
1.18%
11.99%
1.44%
6.46%
2.78%
Operating Margin 49.56%
55.41%
49.73%
45.02%
636.21%
66.82%
528.41%
63.56%
328.76%
141.71%
Capital Employed £ (Millions) 2,692.90 2,646.40 3,057.90 2,584.50 2,244.10
Return on Capital Employed n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
Invested Equity Capital £ (Millions) 2,203.10 2,309.70 2,390.90 1,931.90 1,537.70
           
Earnings per Share - Basic 20.00p
21.30p
17.90p
15.69p
181.08p
21.85p
150.68p
4.27p
68.75p
7.35p
Earnings per Share - Diluted 20.00p
22.37p
17.10p
16.02p
179.98p
21.73p
149.58p
4.24p
68.01p
7.29p
Earnings per Share - Adjusted 22.00p 19.50p 16.12p 13.68p 8.43p
Earnings per Share Growth - Basic 12%
36%
-90%
-28%
20%
412%
119%
-42%
12%
89%
Earnings per Share Growth - Diluted 17%
40%
-90%
-26%
20%
413%
120%
-42%
11%
88%
Earnings per Share Growth - Adjusted 13% 21% 18% 62% 23%
PE Ratio - Diluted 34.1
30.5
43.7
46.6
5.2
43.4
4.9
173.2
8.5
79.2
PEG - Diluted 2.0
0.8
n/a
n/a
0.3
0.1
0.0
n/a
0.8
0.9
Tax Rate (0.39%) 11.76% (0.19%) n/a n/a
Dividend Cover 1.75
1.69
1.60
1.29
1.47
1.99
1.27
0.40
0.80
0.70
Interest Cover 8.94
9.86
7.93
7.27
57.38
(4.83)
7.85
1.31
3.93
1.38
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 20.00p
21.30p
4.47p
3.92p
181.08p
21.85p
150.68p
4.27p
68.75p
7.35p
Earnings per Share - Diluted 20.00p
22.37p
4.27p
4.00p
179.98p
21.73p
149.58p
4.24p
68.01p
7.29p
Earnings per Share - Adjusted 22.00p 4.87p 16.12p 13.68p 8.43p
Earnings per Share Growth - Basic 347%
443%
-98%
-82%
20%
412%
119%
-42%
12%
89%
Earnings per Share Growth - Diluted 368%
459%
-98%
-82%
20%
413%
120%
-42%
11%
88%
Earnings per Share Growth - Adjusted 352% -70% 18% 62% 23%
PE Ratio - Diluted 34.1
30.5
174.7
186.5
5.2
43.4
4.9
173.2
8.5
79.2
PEG - Diluted 0.1
0.1
n/a
n/a
0.3
0.1
0.0
n/a
0.8
0.9
Dividend Cover 1.75
1.69
0.40
0.32
1.47
1.99
1.27
0.40
0.80
0.70
Return on Equity (ROE) 2.35%
2.62%
0.54%
0.48%
21.26%
3.13%
21.85%
0.76%
11.74%
1.53%
Operating Cash Flow per Share 14.22p 9.59p 2.36p 4.97p 3.90p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (16.40p) (18.80p) (1.02p) 0.44p 0.72p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 12.60p 12.20p 10.99p 10.74p 10.50p
Dividend per Share Growth 3.28% 11.02% 2.27% 2.33% 2.38%
Dividend Yield 1.8% 1.6% 1.2% 1.5% 1.8%
Shareholders Funds 2,203.10 2,309.70 2,390.90 1,931.90 1,537.70
Net Borrowings £ (Millions) 394.90 197.30 662.70 644.80 700.10
Net Asset Value per Share (inc. Intangibles) 811.86p 820.02p 697.57p 564.81p 479.09p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14 31-Mar-13
Shareholders' Funds inc Intangibles 2,203.10 2,309.70 2,390.90 1,931.90 1,537.70
Net Borrowings £ (Millions) 394.90 197.30 662.70 644.80 700.10
Net Gearing 17.92% 8.54% 27.72% 33.38% 45.53%
Cash & Near Cash 94.90 139.40 4.30 7.80 6.30
Cash 4.31% 6.04% 0.18% 0.40% 0.41%
Gross Borrowings 489.80 336.70 667.00 652.60 706.40
Gross Gearing 22.23% 14.58% 27.90% 33.78% 45.94%
Borrowings Under 5 years 489.80 336.70 667.00 652.60 706.40
Under 5 years 22.23% 14.58% 27.90% 33.78% 45.94%
Borrowings Under 1 year n/a n/a n/a n/a n/a
Under 1 year n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - exc Intangibles 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14 31-Mar-13
Shareholders' Funds exc Intangibles 2,203.10 2,309.70 2,390.90 1,931.90 1,537.70
Net Borrowings £ (Millions) 394.90 197.30 662.70 644.80 700.10
Net Gearing 17.92% 8.54% 27.72% 33.38% 45.53%
Cash & Near Cash 94.90 139.40 4.30 7.80 6.30
Cash 4.31% 6.04% 0.18% 0.40% 0.41%
Gross Borrowings 489.80 336.70 667.00 652.60 706.40
Gross Gearing 22.23% 14.58% 27.90% 33.78% 45.94%
Borrowings Under 5 years 489.80 336.70 667.00 652.60 706.40
Under 5 years 22.23% 14.58% 27.90% 33.78% 45.94%
Borrowings Under 1 year n/a n/a n/a n/a n/a
Under 1 year n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Cover 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14 31-Mar-13
Quick Ratio n/a n/a n/a n/a n/a
Current Ratio 1.86 3.09 2.04 2.18 0.74

Key

* GAAP

a. Includes discontinued activities

b. Based on operating cash flow before tax

c. Not disclosed under IFRS

d. Includes non-current assets

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

Note 3: Above ratios are on a 'per annum' basis, adjusted for corporate actions and based on the fundamentals of the primary listed security.

Note 4: Under IFRS, all figures are based on 'Continuing' operations unless otherwise stated.

Note 5: Normalised ratios are shown in blue text

Note 6: Forecast figures based on normalised accounts.

 

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