Great Portland Estates (GPE)

Sector:

Property Investment Trusts

Index:

FTSE 250

399.00p
   
  • Change Today:
      8.50p
  • 52 Week High: 534.50p
  • 52 Week Low: 356.20p
  • Currency: UK Pounds
  • Shares Issued: 253.87m
  • Volume: 402,622
  • Market Cap: £1,012.93m
  • RiskGrade: 82

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Annualisation Factor n/a 1.0 0.2 1.0 1.0
Dividend Yield 1.9% 1.8% 1.6% 1.1% 1.4%
           
Continuing Operations          
PE Ratio - Adjusted 42.8 31.0 38.3 61.4 56.3
PE Ratio - Diluted n/a
42.9		 34.1
30.9		 43.7
46.6		 5.5
37.3		 5.1
148.8
PEG - Adjusted n/a 2.4 0.8 3.4 0.9
PEG - Diluted n/a
n/a		 2.0
0.8		 n/a
n/a		 0.3
0.1		 0.0
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 (228.47%)
44.97%		 49.56%
54.63%		 49.73%
45.02%		 636.21%
66.82%		 528.41%
63.56%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 4,235.6 31.0 153.2 61.4 56.3
PE Ratio - Diluted n/a
4,247.9		 34.1
30.9		 174.7
186.5		 5.5
37.3		 5.1
148.8
PEG - Adjusted n/a 0.1 n/a 3.4 0.9
PEG - Diluted n/a
n/a		 0.1
0.1		 n/a
n/a		 0.3
0.1		 0.0
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Net Gearing 26.48% 17.92% 8.54% 27.72% 33.38%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Price/Book Value 0.9 0.8 0.9 1.2 1.1
Price/Tangible Book Value 0.9 0.8 0.9 1.2 1.1
Price/ Cash Flow 103.6 45.6 77.9 343.1 126.9
Price/Revenue 1,924.73 17.17 74.88 42.11 30.94
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 779.51p 852.62p 820.02p 697.57p 564.81p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Continuing Operations          
Revenue 0.89 102.50 28.08 66.00 69.70
EBITDA (2.04)
0.40		 50.80
56.00		 13.97
12.64		 420.20
44.40		 368.30
44.30
Depreciation n/a
n/a		 n/a
n/a		 n/a
n/a		 (0.30)
(0.30)		 n/a
n/a
Net Interest n/a
n/a		 0.80
0.80		 0.05
0.05		 2.80
24.50		 (51.70)
(37.10)
Profit Before Tax (2.04)
0.40		 51.60
56.80		 14.02
12.69		 507.40
74.10		 422.20
14.60
           
Revenue per Share 0.35p 39.67p 9.97p 19.26p 20.38p
Pre-Tax Profit per Share (0.81p)
0.16p		 19.97p
21.98p		 4.98p
4.51p		 148.04p
21.62p		 123.44p
4.27p
Market Capitalisation £ (Millions) 1,719.83 1,721.79 2,025.75 2,765.55 2,157.93
Enterprise Value (EV) £ (Millions) 2,252.63 2,211.09 2,356.85 3,315.85 2,717.23
EBITDA/EV (0.09%)
0.02%		 2.30%
2.53%		 0.59%
0.54%		 12.67%
1.34%		 13.55%
1.63%
Operating Margin (228.47%)
44.97%		 49.56%
54.63%		 49.73%
45.02%		 636.21%
66.82%		 528.41%
63.56%
Capital Employed £ (Millions) 2,504.80 2,692.90 2,646.40 3,057.90 2,584.50
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) 1,971.60 2,203.10 2,309.70 2,390.90 1,931.90
           
Earnings per Share - Basic (79.80p)
15.85p		 20.00p
22.06p		 17.90p
15.69p		 148.30p
21.85p		 123.40p
4.27p
Earnings per Share - Diluted (79.80p)
15.85p		 20.00p
22.06p		 17.10p
16.02p		 147.40p
21.73p		 122.50p
4.24p
Earnings per Share - Adjusted 15.90p 22.00p 19.50p 13.20p 11.20p
Earnings per Share Growth - Basic n/a
-28%		 12%
41%		 -88%
-28%		 20%
412%		 119%
-42%
Earnings per Share Growth - Diluted n/a
-28%		 17%
38%		 -88%
-26%		 20%
413%		 120%
-42%
Earnings per Share Growth - Adjusted -28% 13% 48% 18% 62%
PE Ratio - Diluted n/a
42.9		 34.1
30.9		 43.7
46.6		 5.5
37.3		 5.1
148.8
PEG - Diluted n/a
n/a		 2.0
0.8		 n/a
n/a		 0.3
0.1		 0.0
n/a
Tax Rate 0.05% (0.39%) 11.76% (0.19%) n/a
Dividend Cover 1.26
1.26		 1.75
1.75		 1.60
1.29		 1.47
2.43		 1.27
0.49
Interest Cover (24.90)
6.13		 8.94
9.74		 7.93
7.27		 57.38
(4.83)		 7.85
1.31
           
Continuing & Discontinued Operations          
Earnings per Share - Basic (0.81p)
0.16p		 20.00p
22.06p		 4.47p
3.92p		 148.30p
21.85p		 123.40p
4.27p
Earnings per Share - Diluted (0.81p)
0.16p		 20.00p
22.06p		 4.27p
4.00p		 147.40p
21.73p		 122.50p
4.24p
Earnings per Share - Adjusted 0.16p 22.00p 4.87p 13.20p 11.20p
Earnings per Share Growth - Basic n/a
-99%		 347%
463%		 -97%
-82%		 20%
412%		 119%
-42%
Earnings per Share Growth - Diluted n/a
-99%		 368%
451%		 -97%
-82%		 20%
413%		 120%
-42%
Earnings per Share Growth - Adjusted -99% 352% -63% 18% 62%
PE Ratio - Diluted n/a
4,247.9		 34.1
30.9		 174.7
186.5		 5.5
37.3		 5.1
148.8
PEG - Diluted n/a
n/a		 0.1
0.1		 n/a
n/a		 0.3
0.1		 0.0
n/a
Dividend Cover 0.01
0.01		 1.75
1.75		 0.40
0.32		 1.47
2.43		 1.27
0.49
Return on Equity (ROE) (0.10%)
0.02%		 2.35%
2.59%		 0.54%
0.48%		 21.26%
3.13%		 21.85%
0.76%
Operating Cash Flow per Share 6.56p 14.94p 9.59p 2.36p 4.97p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (0.33p) (17.22p) (18.80p) (1.02p) 0.44p
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 12.60p 12.60p 12.20p 9.00p 8.80p
Dividend per Share Growth n/a 3.28% 35.56% 2.27% 2.33%
Dividend Yield 1.9% 1.8% 1.6% 1.1% 1.4%
Shareholders Funds 1,971.60 2,203.10 2,309.70 2,390.90 1,931.90
Net Borrowings £ (Millions) 522.10 394.90 197.30 662.70 644.80
Net Asset Value per Share (inc. Intangibles) 779.51p 852.62p 820.02p 697.57p 564.81p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Shareholders' Funds inc Intangibles 1,971.60 2,203.10 2,309.70 2,390.90 1,931.90
Net Borrowings £ (Millions) 522.10 394.90 197.30 662.70 644.80
Net Gearing 26.48% 17.92% 8.54% 27.72% 33.38%
Cash & Near Cash 11.10 94.90 139.40 4.30 7.80
Cash 0.56% 4.31% 6.04% 0.18% 0.40%
Gross Borrowings 533.20 489.80 336.70 667.00 652.60
Gross Gearing 27.04% 22.23% 14.58% 27.90% 33.78%
Borrowings Under 5 years 533.20 489.80 336.70 667.00 652.60
Under 5 years 27.04% 22.23% 14.58% 27.90% 33.78%
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-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Shareholders' Funds exc Intangibles 1,971.60 2,203.10 2,309.70 2,390.90 1,931.90
Net Borrowings £ (Millions) 522.10 394.90 197.30 662.70 644.80
Net Gearing 26.48% 17.92% 8.54% 27.72% 33.38%
Cash & Near Cash 11.10 94.90 139.40 4.30 7.80
Cash 0.56% 4.31% 6.04% 0.18% 0.40%
Gross Borrowings 533.20 489.80 336.70 667.00 652.60
Gross Gearing 27.04% 22.23% 14.58% 27.90% 33.78%
Borrowings Under 5 years 533.20 489.80 336.70 667.00 652.60
Under 5 years 27.04% 22.23% 14.58% 27.90% 33.78%
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-21 31-Mar-20 31-Mar-19 31-Mar-15 31-Mar-14
Quick Ratio n/a n/a n/a n/a n/a
Current Ratio 0.56 1.86 3.09 2.04 2.18
Interest Cover (24.90)
6.13		 8.94
9.74		 7.93
7.27		 57.38
(4.83)		 7.85
1.31

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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