LondonMetric Property (LMP)

Sector:

Property Investment Trusts

Index:

FTSE 250

209.20p
   
  • Change Today:
    -1.00p
  • 52 Week High: 210.40
  • 52 Week Low: 156.40
  • Currency: UK Pounds
  • Shares Issued: 2,040.57m
  • Volume: 2,708,927
  • Market Cap: £4,268.86m

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Annualisation Factor 1.0 1.0 n/a 1.0 0.2
Dividend Yield 5.4% 3.4% 4.0% 4.7% 4.1%
           
Continuing Operations          
PE Ratio - Adjusted 17.0 27.5 22.4 n/a 22.7
PE Ratio - Diluted n/a
17.1		 3.5
27.6		 7.5
22.6		 n/a
n/a		 11.7
22.9
PEG - Adjusted 5.7 4.6 n/a n/a 0.7
PEG - Diluted n/a
5.7		 0.0
5.5		 n/a
n/a		 n/a
n/a		 n/a
0.8
Return on Capital Employed n/a
4.44%		 21.20%
3.37%		 0.11%
0.04%		 0.91%
0.91%		 2.00%
1.17%
Operating Margin (315.81%)
98.23%		 554.73%
73.50%		 225.45%
84.94%		 19.05%
19.05%		 166.86%
97.88%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 17.0 27.5 2,222.8 n/a 90.8
PE Ratio - Diluted n/a
17.1		 3.5
27.6		 742.5
2,234.5		 n/a
n/a		 46.7
91.8
PEG - Adjusted 5.7 0.0 n/a n/a n/a
PEG - Diluted n/a
5.7		 0.0
0.0		 n/a
n/a		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Net Gearing 50.03% 38.08% 45.71% 59.42% 44.24%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Price/Book Value 0.9 1.0 1.1 1.0 1.1
Price/Tangible Book Value 0.9 1.0 1.1 1.0 1.1
Price/ Cash Flow 12.9 21.5 19.3 22.4 25.6
Price/Revenue 11.71 19.29 1,556.95 12.47 65.34
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 203.90p 275.88p 193.27p 178.92p 174.93p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Continuing Operations          
Revenue 146.70 133.20 1.23 113.40 21.26
EBITDA (462.70)
144.70		 739.50
98.50		 2.79
1.05		 21.60
21.60		 35.48
20.81
Depreciation (0.60)
(0.60)		 (0.60)
(0.60)		 (0.01)
(0.01)		 n/a
n/a		 n/a
n/a
Net Interest (33.90)
(33.90)		 (23.90)
(23.90)		 (0.25)
(0.25)		 (28.30)
(28.30)		 (5.62)
(5.62)
Profit Before Tax (507.50)
99.90		 738.30
97.30		 2.61
0.87		 (6.70)
(6.70)		 29.85
15.19
           
Revenue per Share 14.99p 14.30p 0.14p 14.10p 3.06p
Pre-Tax Profit per Share (51.87p)
10.21p		 79.26p
10.45p		 0.29p
0.097p		 (0.83p)
(0.83p)		 4.29p
2.18p
Market Capitalisation £ (Millions) 1,725.53 2,699.00 1,926.46 1,480.20 1,397.88
Enterprise Value (EV) £ (Millions) 2,721.53 3,702.70 2,768.06 2,412.79 1,956.78
EBITDA/EV (17.00%)
5.32%		 19.97%
2.66%		 0.10%
0.04%		 0.90%
0.90%		 1.81%
1.06%
Operating Margin (315.81%)
98.23%		 554.73%
73.50%		 225.45%
84.94%		 19.05%
19.05%		 166.86%
97.88%
Capital Employed £ (Millions) 3,012.10 3,595.80 2,580.40 2,371.50 1,775.70
Return on Capital Employed n/a
4.44%		 21.20%
3.37%		 0.11%
0.04%		 0.91%
0.91%		 2.00%
1.17%
Invested Equity Capital £ (Millions) 1,967.30 2,559.70 1,731.30 1,431.80 1,216.80
           
Earnings per Share - Basic (51.80p)
10.33p		 78.80p
10.04p		 28.60p
9.52p		 (0.70p)
(0.71p)		 17.20p
8.77p
Earnings per Share - Diluted (51.80p)
10.29p		 78.40p
9.99p		 28.50p
9.47p		 (0.70p)
(0.70p)		 17.10p
8.70p
Earnings per Share - Adjusted 10.33p 10.04p 9.52p (0.70)p 8.80p
Earnings per Share Growth - Basic n/a
3%		 176%
5%		 n/a
n/a		 n/a
n/a		 -32%
31%
Earnings per Share Growth - Diluted n/a
3%		 175%
5%		 n/a
n/a		 n/a
n/a		 -33%
30%
Earnings per Share Growth - Adjusted 3% 6% n/a n/a 33%
PE Ratio - Diluted n/a
17.1		 3.5
27.6		 7.5
22.6		 n/a
n/a		 11.7
22.9
PEG - Diluted n/a
5.7		 0.0
5.5		 n/a
n/a		 n/a
n/a		 n/a
0.8
Tax Rate (0.02%) 0.01% 0.04% (2.99%) (0.17%)
Dividend Cover 1.09
1.09		 1.09
1.09		 1.10
1.10		 (0.08)
(0.09)		 1.07
1.07
Interest Cover (12.79)
3.71		 31.26
4.99		 11.37
4.47		 0.77
0.77		 6.22
3.66
           
Continuing & Discontinued Operations          
Earnings per Share - Basic (51.80p)
10.33p		 78.80p
10.04p		 0.29p
0.096p		 (0.70p)
(0.71p)		 4.30p
2.19p
Earnings per Share - Diluted (51.80p)
10.29p		 78.40p
9.99p		 0.29p
0.096p		 (0.70p)
(0.70p)		 4.27p
2.17p
Earnings per Share - Adjusted 10.33p 10.04p 0.096p (0.70p) 2.20p
Earnings per Share Growth - Basic n/a
3%		 27,196%
10,345%		 n/a
n/a		 n/a
n/a		 -83%
-67%
Earnings per Share Growth - Diluted n/a
3%		 27,152%
10,347%		 n/a
n/a		 n/a
n/a		 -83%
-68%
Earnings per Share Growth - Adjusted 3% 10,348% n/a n/a -67%
PE Ratio - Diluted n/a
17.1		 3.5
27.6		 742.5
2,234.5		 n/a
n/a		 46.7
91.8
PEG - Diluted n/a
5.7		 0.0
0.0		 n/a
n/a		 n/a
n/a		 n/a
n/a
Dividend Cover 1.09
1.09		 1.09
1.09		 0.01
0.01		 (0.08)
(0.09)		 0.27
0.27
Return on Equity (ROE) (25.74%)
5.14%		 28.69%
3.65%		 0.15%
0.05%		 (0.40%)
(0.40%)		 2.46%
1.25%
Operating Cash Flow per Share 13.59p 12.83p 11.08p 7.86p 7.79p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (1.91p) (0.011p) (0.034p) 7.61p (0.20p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 9.50p 9.25p 8.65p 8.30p 8.20p
Dividend per Share Growth 2.70% 6.94% 4.22% 1.22% 17.14%
Dividend Yield 5.4% 3.4% 4.0% 4.7% 4.1%
Shareholders Funds 1,967.30 2,559.70 1,731.30 1,431.80 1,216.80
Net Borrowings £ (Millions) 984.30 974.70 791.30 850.80 538.30
Net Asset Value per Share (inc. Intangibles) 201.05p 274.79p 192.56p 178.04p 174.93p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Shareholders' Funds inc Intangibles 1,967.30 2,559.70 1,731.30 1,431.80 1,216.80
Net Borrowings £ (Millions) 984.30 974.70 791.30 850.80 538.30
Net Gearing 50.03% 38.08% 45.71% 59.42% 44.24%
Cash & Near Cash 32.60 51.30 51.40 81.80 20.60
Cash 1.66% 2.00% 2.97% 5.71% 1.69%
Gross Borrowings 1,016.90 1,026.00 842.70 932.60 558.90
Gross Gearing 51.69% 40.08% 48.67% 65.13% 45.93%
Borrowings Under 5 years 1,016.90 1,026.00 842.70 932.60 558.90
Under 5 years 51.69% 40.08% 48.67% 65.13% 45.93%
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-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Shareholders' Funds exc Intangibles 1,967.30 2,559.70 1,731.30 1,431.80 1,216.80
Net Borrowings £ (Millions) 984.30 974.70 791.30 850.80 538.30
Net Gearing 50.03% 38.08% 45.71% 59.42% 44.24%
Cash & Near Cash 32.60 51.30 51.40 81.80 20.60
Cash 1.66% 2.00% 2.97% 5.71% 1.69%
Gross Borrowings 1,016.90 1,026.00 842.70 932.60 558.90
Gross Gearing 51.69% 40.08% 48.67% 65.13% 45.93%
Borrowings Under 5 years 1,016.90 1,026.00 842.70 932.60 558.90
Under 5 years 51.69% 40.08% 48.67% 65.13% 45.93%
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-23 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19
Quick Ratio n/a n/a n/a 2.10 n/a
Current Ratio 0.45 1.46 1.35 2.13 0.73

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

Note 3: Under IFRS, all figures are based on 'Continuing' operations unless otherwise stated.

Note 4: Normalised ratios are shown in blue text

Note 5: Forecast figures based on normalised accounts.

 

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