Derwent London (DLN)

Sector:

Property Investment Trusts

Index:

FTSE 250

2,002.00p
   
  • Change Today:
      11.00p
  • 52 Week High: 2,508.00
  • 52 Week Low: 1,682.00
  • Currency: UK Pounds
  • Shares Issued: 112.29m
  • Volume: 174,394
  • Market Cap: £2,248.06m
  • RiskGrade: 145
  • Beta: 0.01

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20
Annualisation Factor 1.0 1.0 1.0 n/a 1.0
Dividend Yield 4.1% 3.4% 3.3% 2.2% 2.4%
           
Continuing Operations          
PE Ratio - Adjusted 18.4 23.1 22.2 31.5 31.2
PE Ratio - Diluted 19.0
19.0		 n/a
n/a		 n/a
22.2		 15.2
30.8		 n/a
n/a
PEG - Adjusted 4.6 n/a n/a 3.5 n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
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 56.19%
56.19%		 (164.12%)
(164.12%)		 (93.57%)
67.16%		 122.05%
63.70%		 (19.73%)
(21.63%)
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 18.4 23.1 22.2 3,118.1 31.2
PE Ratio - Diluted 19.0
19.0		 n/a
n/a		 n/a
22.2		 1,507.4
3,070.0		 n/a
n/a
PEG - Adjusted 4.6 n/a 0.0 n/a n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
0.0		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20
Net Gearing 40.30% 36.98% 29.63% 27.34% 24.61%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20
Price/Book Value 0.6 0.8 0.7 0.9 0.8
Price/Tangible Book Value 0.6 0.8 0.7 0.9 0.8
Price/ Cash Flow 34.0 27.3 23.9 29.7 29.9
Price/Revenue 7.94 9.97 10.69 1,574.40 12.90
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 3,153.27p 3,124.74p 3,630.09p 3,955.61p 3,855.80p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20
Continuing Operations          
Revenue 276.90 265.90 248.80 2.44 268.60
EBITDA 156.60
156.60		 (435.30)
(435.30)		 (230.70)
169.20		 3.02
1.60		 (48.80)
(53.90)
Depreciation (1.00)
(1.00)		 (1.10)
(1.10)		 (2.10)
(2.10)		 (0.05)
(0.05)		 (4.20)
(4.20)
Net Interest (39.60)
(39.60)		 (39.50)
(39.50)		 (39.40)
(39.40)		 (0.28)
(0.28)		 (30.00)
(29.90)
Profit Before Tax 116.00
116.00		 (475.90)
(475.90)		 (279.50)
120.40		 2.55
1.27		 (83.00)
(88.00)
           
Revenue per Share 246.66p 236.79p 221.61p 2.17p 240.01p
Pre-Tax Profit per Share 103.33p
103.33p		 (423.81p)
(423.81p)		 (248.95p)
107.24p		 2.27p
1.13p		 (74.17p)
(78.63p)
Market Capitalisation £ (Millions) 2,199.78 2,650.07 2,659.04 3,831.92 3,466.33
Enterprise Value (EV) £ (Millions) 3,581.78 3,960.37 3,943.14 5,151.92 4,566.13
EBITDA/EV 4.37%
4.37%		 (10.99%)
(10.99%)		 (5.85%)
4.29%		 0.06%
0.03%		 (1.07%)
(1.18%)
Operating Margin 56.19%
56.19%		 (164.12%)
(164.12%)		 (93.57%)
67.16%		 122.05%
63.70%		 (19.73%)
(21.63%)
Capital Employed £ (Millions) 5,039.10 4,879.90 5,360.40 5,762.10 5,415.80
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) 3,541.00 3,509.20 4,076.30 4,442.10 4,264.10
           
Earnings per Share - Basic 103.24p
103.24p		 (424.25p)
(424.25p)		 (249.84p)
106.62p		 224.99p
110.96p		 (69.34p)
(79.26p)
Earnings per Share - Diluted 102.93p
102.93p		 (424.25p)
(423.34p)		 (249.84p)
106.48p		 224.44p
110.83p		 (69.34p)
(79.01p)
Earnings per Share - Adjusted 106.50p 102.00p 106.60p 108.50p 99.20p
Earnings per Share Growth - Basic n/a
n/a		 n/a
n/a		 n/a
-4%		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Diluted n/a
n/a		 n/a
n/a		 n/a
-4%		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Adjusted 4% -4% -2% 9% -4%
PE Ratio - Diluted 19.0
19.0		 n/a
n/a		 n/a
22.2		 15.2
30.8		 n/a
n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a		 n/a
n/a
Tax Rate 0.09% (0.11%) (0.37%) (0.49%) 1.93%
Dividend Cover 1.32
1.28		 1.28
(5.34)		 1.36
1.36		 1.42
1.45		 1.33
(1.06)
Interest Cover 3.91
3.91		 (10.78)
(10.78)		 (6.04)
4.03		 9.99
5.48		 (1.75)
(1.92)
           
Continuing & Discontinued Operations          
Earnings per Share - Basic 103.24p
103.24p		 (424.25p)
(424.25p)		 (249.84p)
106.62p		 2.27p
1.11p		 (69.34p)
(79.26p)
Earnings per Share - Diluted 102.93p
102.93p		 (424.25p)
(423.34p)		 (249.84p)
106.48p		 2.27p
1.11p		 (69.34p)
(79.01p)
Earnings per Share - Adjusted 106.50p 102.00p 106.60p 1.09p 99.20p
Earnings per Share Growth - Basic n/a
n/a		 n/a
n/a		 n/a
9,473%		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Diluted n/a
n/a		 n/a
n/a		 n/a
9,472%		 n/a
n/a		 n/a
n/a
Earnings per Share Growth - Adjusted 4% -4% 9,633% -99% -4%
PE Ratio - Diluted 19.0
19.0		 n/a
n/a		 n/a
22.2		 1,507.4
3,070.0		 n/a
n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 n/a
0.0		 n/a
n/a		 n/a
n/a
Dividend Cover 1.32
1.28		 1.28
(5.34)		 1.36
1.36		 0.01
0.01		 1.33
(1.06)
Return on Equity (ROE) 3.27%
3.27%		 (13.58%)
(13.58%)		 (6.88%)
2.94%		 0.06%
0.03%		 (1.82%)
(2.08%)
Operating Cash Flow per Share 57.55p 86.38p 99.22p 114.79p 103.56p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (1.43p) (3.21p) (25.74p) 0.15p (3.40p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 80.50p 79.50p 78.50p 76.50p 74.45p
Dividend per Share Growth 1.26% 1.27% 2.61% 2.75% 2.76%
Dividend Yield 4.1% 3.4% 3.3% 2.2% 2.4%
Shareholders Funds 3,539.80 3,508.80 4,075.50 4,441.80 4,263.20
Net Borrowings £ (Millions) 1,426.70 1,297.70 1,207.50 1,214.50 1,049.10
Net Asset Value per Share (inc. Intangibles) 3,153.27p 3,124.74p 3,630.09p 3,955.61p 3,809.42p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20
Shareholders' Funds inc Intangibles 3,539.80 3,508.80 4,075.50 4,441.80 4,263.20
Net Borrowings £ (Millions) 1,426.70 1,297.70 1,207.50 1,214.50 1,049.10
Net Gearing 40.30% 36.98% 29.63% 27.34% 24.61%
Cash & Near Cash 71.40 73.00 76.60 105.50 50.70
Cash 2.02% 2.08% 1.88% 2.38% 1.19%
Gross Borrowings 1,498.10 1,370.70 1,284.10 1,320.00 1,099.80
Gross Gearing 42.32% 39.06% 31.51% 29.72% 25.80%
Borrowings Under 5 years 1,498.10 1,370.70 1,284.10 1,320.00 1,099.80
Under 5 years 42.32% 39.06% 31.51% 29.72% 25.80%
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-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20
Shareholders' Funds exc Intangibles 3,539.80 3,508.80 4,075.50 4,441.80 4,263.20
Net Borrowings £ (Millions) 1,426.70 1,297.70 1,207.50 1,214.50 1,049.10
Net Gearing 40.30% 36.98% 29.63% 27.34% 24.61%
Cash & Near Cash 71.40 73.00 76.60 105.50 50.70
Cash 2.02% 2.08% 1.88% 2.38% 1.19%
Gross Borrowings 1,498.10 1,370.70 1,284.10 1,320.00 1,099.80
Gross Gearing 42.32% 39.06% 31.51% 29.72% 25.80%
Borrowings Under 5 years 1,498.10 1,370.70 1,284.10 1,320.00 1,099.80
Under 5 years 42.32% 39.06% 31.51% 29.72% 25.80%
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-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20
Quick Ratio 0.67 0.70 0.70 0.70 1.18
Current Ratio 0.71 0.74 0.95 0.85 1.30

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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