Financials Bellway p.l.c. OTC Markets

Equities

Market Closed - OTC Markets Other stock markets 15:55:01 07/05/2024 BST			5-day change	1st Jan Change
31.39 ^USD	-9.01%		-.--%	+25.81%

06-07	FTSE 100 falls as US rate cut hopes take hit	AN
06-07	Europe on the back foot as US jobs report looms	AN

Fiscal Period: Juli	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	3,656	3,139	4,049	3,012	2,664	3,279	-	-
Enterprise Value (EV) ¹	3,455	3,138	3,719	2,767	2,432	3,076	3,109	3,070
P/E ratio	6.81 x	16.3 x	10.4 x	12.5 x	7.48 x	24.2 x	17.6 x	13.3 x
Yield	5.06%	1.96%	3.58%	5.72%	6.32%	1.74%	2.25%	2.97%
Capitalization / Revenue	1.14 x	1.41 x	1.3 x	0.85 x	0.78 x	1.45 x	1.29 x	1.15 x
EV / Revenue	1.08 x	1.41 x	1.19 x	0.78 x	0.71 x	1.36 x	1.23 x	1.08 x
EV / EBITDA	5.08 x	9.57 x	6.91 x	4.2 x	4.42 x	13.6 x	11 x	8.43 x
EV / FCF	12 x	-47.4 x	8.66 x	24.3 x	10.4 x	32 x	22.5 x	22.2 x
FCF Yield	8.3%	-2.11%	11.5%	4.12%	9.6%	3.13%	4.44%	4.5%
Price to Book	1.25 x	1.05 x	1.23 x	0.9 x	0.77 x	0.97 x	0.94 x	0.9 x
Nbr of stocks (in thousands)	123,113	123,288	123,366	123,152	120,231	118,649	-	-
Reference price ²	29.70	25.46	32.82	24.46	22.16	27.64	27.64	27.64
Announcement Date	15/10/19	20/10/20	19/10/21	18/10/22	17/10/23	-	-	-

¹GBP in Million²GBP

Estimates

Fiscal Period: Juli	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	3,213	2,225	3,122	3,537	3,407	2,257	2,535	2,850
EBITDA ¹	680.7	328	538	659.3	549.9	225.5	283.1	364.4
EBIT ¹	674.9	321.7	531.5	653.2	543.9	215.8	276.2	355.3
Operating Margin	21%	14.46%	17.02%	18.47%	15.97%	9.56%	10.89%	12.47%
Earnings before Tax (EBT) ¹	662.6	236.7	479	309	483	181.6	257.1	330
Net income ¹	538.6	192.9	390.7	242.6	365	134	181.1	238.7
Net margin	16.76%	8.67%	12.51%	6.86%	10.71%	5.94%	7.14%	8.38%
EPS ²	4.364	1.561	3.158	1.962	2.963	1.142	1.573	2.072
Free Cash Flow ¹	286.8	-66.2	429.2	114.1	233.5	96.24	137.9	138
FCF margin	8.93%	-2.97%	13.75%	3.23%	6.85%	4.26%	5.44%	4.84%
FCF Conversion (EBITDA)	42.14%	-	79.78%	17.31%	42.46%	42.68%	48.73%	37.88%
FCF Conversion (Net income)	53.25%	-	109.85%	47.03%	63.97%	71.83%	76.18%	57.83%
Dividend per Share ²	1.504	0.5000	1.175	1.400	1.400	0.4818	0.6219	0.8212
Announcement Date	15/10/19	20/10/20	19/10/21	18/10/22	17/10/23	-	-	-

¹GBP in Million²GBP

Estimates

Fiscal Period: Juli	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	201	1.4	330	245	232	203	171	209
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	287	-66.2	429	114	234	96.2	138	138
ROE (net income / shareholders' equity)	19.7%	6.52%	12.4%	15.4%	11.7%	4.05%	5.27%	6.99%
ROA (Net income/ Total Assets)	14.5%	4.84%	8.92%	10.7%	7.96%	2.89%	3.83%	4.83%
Assets ¹	3,717	3,987	4,380	2,260	4,583	4,638	4,733	4,939
Book Value Per Share ²	23.70	24.30	26.60	27.30	28.70	28.60	29.50	30.80
Cash Flow per Share ²	2.370	-0.4700	3.500	0.9300	1.920	1.220	2.470	-
Capex ¹	5.13	8.3	3.3	0.5	2.7	3.66	4.25	5.01
Capex / Sales	0.16%	0.37%	0.11%	0.01%	0.08%	0.16%	0.17%	0.18%
Announcement Date	15/10/19	20/10/20	19/10/21	18/10/22	17/10/23	-	-	-

¹GBP in Million²GBP

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

27.64 GBP

Average target price

30.47 GBP

Spread / Average Target

+10.23%

	1st Jan change	Capi.
DR HORTON	-7.74%	46.18B
PULTEGROUP, INC.	+8.06%	23.46B
DAIWA HOUSE INDUSTRY CO., LTD.	-3.32%	16.88B
SEKISUI HOUSE, LTD.	+16.06%	15.05B
TOLL BROTHERS, INC.	+13.91%	12.02B
SUMITOMO FORESTRY CO., LTD.	+30.81%	7.19B
THE BERKELEY GROUP HOLDINGS PLC	+10.81%	6.99B
TAYLOR WIMPEY PLC	+1.77%	6.74B
BARRATT DEVELOPMENTS PLC	-10.95%	6.18B