Tritax Big Box Reit (BBOX)

Sector:

Property Investment Trusts

Index:

FTSE 250

158.70p
   
  • Change Today:
      1.10p
  • 52 Week High: 170.30
  • 52 Week Low: 123.60
  • Currency: UK Pounds
  • Shares Issued: 1,903.74m
  • Volume: 3,498,515
  • Market Cap: £3,021.23m
  • RiskGrade: 105

Key Financials

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Annualisation Factor 1.0 n/a 1.0 1.0 0.5
Dividend Yield 5.1% 2.7% 3.8% 4.6% 5.1%
           
Continuing Operations          
PE Ratio - Adjusted 17.8 30.3 23.4 22.4 18.9
PE Ratio - Diluted n/a
4.3		 4.5
29.3		 6.4
6.1		 17.8
23.0		 7.4
19.2
PEG - Adjusted n/a 2.0 2.9 n/a 2.7
PEG - Diluted n/a
0.0		 0.0
n/a		 0.0
0.0		 n/a
n/a		 0.1
2.7
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 (273.64%)
(276.17%)		 547.72%
97.35%		 301.55%
95.23%		 97.85%
75.68%		 208.36%
90.89%
           
Continuing & Discontinued Operations          
PE Ratio - Adjusted 17.8 2,997.3 23.4 22.4 37.9
PE Ratio - Diluted n/a
n/a		 446.0
3,068.8		 6.4
25.3		 17.8
23.0		 14.9
38.3
PEG - Adjusted 0.0 n/a 2.9 0.2 n/a
PEG - Diluted n/a
n/a		 n/a
n/a		 0.0
8.4		 n/a
0.3		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Net Gearing 46.76% 31.25% 44.00% 43.98% 34.46%

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Price/Book Value 0.8 1.1 1.0 1.0 0.8
Price/Tangible Book Value 0.8 1.1 1.0 1.0 0.8
Price/ Cash Flow 14.6 22.3 20.8 26.8 20.0
Price/Revenue 12.57 2,346.44 17.76 17.34 28.25
Price/R&D n/a n/a n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 179.20p 232.06p 170.87p 152.18p 155.62p
Net Cash per Share n/a n/a n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Continuing Operations          
Revenue 206.00 1.86 161.50 144.30 66.40
EBITDA (563.70)
(568.90)		 10.21
1.81		 493.30
160.10		 141.20
109.20		 138.35
60.35
Depreciation n/a
n/a		 n/a
n/a		 (6.30)
(6.30)		 n/a
n/a		 n/a
n/a
Net Interest (37.80)
(37.80)		 (0.40)
(0.40)		 (37.60)
(37.60)		 n/a
n/a		 (12.05)
(11.40)
Profit Before Tax (601.00)
(604.30)		 9.80
1.49		 449.50
467.50		 141.20
109.20		 126.30
48.95
           
Revenue per Share 11.02p 0.11p 9.45p 8.58p 4.61p
Pre-Tax Profit per Share (32.16p)
(32.34p)		 0.56p
0.085p		 26.31p
27.36p		 8.40p
6.49p		 8.77p
3.40p
Market Capitalisation £ (Millions) 2,590.19 4,650.78 2,886.44 2,539.98 1,920.46
Enterprise Value (EV) £ (Millions) 4,178.99 5,995.98 4,229.54 3,687.68 2,740.96
EBITDA/EV (13.49%)
(13.61%)		 0.17%
0.03%		 11.66%
3.79%		 3.83%
2.96%		 5.05%
2.20%
Operating Margin (273.64%)
(276.17%)		 547.72%
97.35%		 301.55%
95.23%		 97.85%
75.68%		 208.36%
90.89%
Capital Employed £ (Millions) 4,962.50 5,420.00 4,262.40 3,706.60 3,061.40
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) 3,350.00 4,076.50 2,921.30 2,561.20 2,240.90
           
Earnings per Share - Basic (32.08p)
31.90p		 55.39p
8.51p		 26.30p
27.36p		 8.40p
6.49p		 17.54p
6.80p
Earnings per Share - Diluted (32.08p)
31.90p		 55.31p
8.51p		 26.30p
27.36p		 8.38p
6.46p		 17.54p
6.80p
Earnings per Share - Adjusted 7.79p 8.23p 7.17p 6.64p 6.88p
Earnings per Share Growth - Basic n/a
275%		 111%
-69%		 213%
321%		 -52%
-4%		 69%
7%
Earnings per Share Growth - Diluted n/a
275%		 110%
-69%		 214%
323%		 -52%
-5%		 69%
7%
Earnings per Share Growth - Adjusted -5% 15% 8% -4% 7%
PE Ratio - Diluted n/a
4.3		 4.5
29.3		 6.4
6.1		 17.8
23.0		 7.4
19.2
PEG - Diluted n/a
0.0		 0.0
n/a		 0.0
0.0		 n/a
n/a		 0.1
2.7
Tax Rate 0.27% (0.15%) 0.02% n/a n/a
Dividend Cover 1.11
4.56		 1.23
1.27		 1.12
4.27		 0.97
0.95		 1.03
1.01
Interest Cover (14.25)
(14.34)		 25.22
4.69		 12.95
13.43		 n/a
n/a		 11.40
5.26
           
Continuing & Discontinued Operations          
Earnings per Share - Basic (32.08p)
(32.25p)		 0.56p
0.081p		 26.30p
6.63p		 8.40p
6.49p		 8.77p
3.40p
Earnings per Share - Diluted (32.08p)
(32.25p)		 0.56p
0.081p		 26.30p
6.63p		 8.38p
6.46p		 8.77p
3.40p
Earnings per Share - Adjusted 7.79p 0.083p 7.17p 6.64p 3.44p
Earnings per Share Growth - Basic n/a
n/a		 -98%
-99%		 213%
2%		 -4%
91%		 -15%
-46%
Earnings per Share Growth - Diluted n/a
n/a		 -98%
-99%		 214%
3%		 -4%
90%		 -15%
-46%
Earnings per Share Growth - Adjusted 9,277% -99% 8% 93% -46%
PE Ratio - Diluted n/a
n/a		 446.0
3,068.8		 6.4
25.3		 17.8
23.0		 14.9
38.3
PEG - Diluted n/a
n/a		 n/a
n/a		 0.0
8.4		 n/a
0.3		 n/a
n/a
Dividend Cover 1.11
(4.61)		 0.01
0.01		 1.12
1.04		 0.97
0.95		 0.51
0.51
Return on Equity (ROE) (17.89%)
(17.99%)		 0.24%
0.03%		 15.38%
3.88%		 5.51%
4.26%		 5.64%
2.18%
Operating Cash Flow per Share 9.49p 11.17p 8.05p 5.55p 6.52p
Gross Cash Flow per Share cn/a cn/a cn/a cn/a cn/a
Cash Incr/Decr per Share (1.26p) 0.008p 2.13p (1.55p) (0.85p)
Capital Expenditure per Share n/a n/a n/a n/a n/a
Dividend per Share 7.00p 6.70p 6.40p 6.85p 6.70p
Dividend per Share Growth 4.48% 4.69% (6.57%) 2.24% 9.65%
Dividend Yield 5.1% 2.7% 3.8% 4.6% 5.1%
Shareholders Funds 3,350.00 4,076.50 2,921.30 2,561.20 2,240.90
Net Borrowings £ (Millions) 1,566.30 1,274.10 1,285.30 1,126.30 772.20
Net Asset Value per Share (inc. Intangibles) 179.20p 232.06p 170.87p 152.18p 155.62p

  £ (Millions) £ (Millions) £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Dec-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Shareholders' Funds inc Intangibles 3,350.00 4,076.50 2,921.30 2,561.20 2,240.90
Net Borrowings £ (Millions) 1,566.30 1,274.10 1,285.30 1,126.30 772.20
Net Gearing 46.76% 31.25% 44.00% 43.98% 34.46%
Cash & Near Cash 47.60 71.10 57.80 21.40 48.30
Cash 1.42% 1.74% 1.98% 0.84% 2.16%
Gross Borrowings 1,613.90 1,345.20 1,343.10 1,147.70 820.50
Gross Gearing 48.18% 33.00% 45.98% 44.81% 36.61%
Borrowings Under 5 years 1,613.90 1,345.20 1,343.10 1,147.70 820.50
Under 5 years 48.18% 33.00% 45.98% 44.81% 36.61%
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-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Shareholders' Funds exc Intangibles 3,348.60 4,074.80 2,919.30 2,558.90 2,240.90
Net Borrowings £ (Millions) 1,566.30 1,274.10 1,285.30 1,126.30 772.20
Net Gearing 46.77% 31.27% 44.03% 44.02% 34.46%
Cash & Near Cash 47.60 71.10 57.80 21.40 48.30
Cash 1.42% 1.74% 1.98% 0.84% 2.16%
Gross Borrowings 1,613.90 1,345.20 1,343.10 1,147.70 820.50
Gross Gearing 48.20% 33.01% 46.01% 44.85% 36.61%
Borrowings Under 5 years 1,613.90 1,345.20 1,343.10 1,147.70 820.50
Under 5 years 48.20% 33.01% 46.01% 44.85% 36.61%
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-22 31-Dec-21 31-Dec-20 31-Dec-19 31-Dec-18
Quick Ratio n/a n/a n/a n/a n/a
Current Ratio 0.66 0.84 0.77 0.36 1.25

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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