British Land Company

BTLCY

REIT - Industrial · Real Estate

Price

$5.77

+0.10 (+1.76%)

Market Cap

$5.91B

Exchange

Other OTC

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Jul 26, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+7.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 930.0M (2022) → 1.00B (2026)

The British Land Co. Plc is a real estate investment trust, which engages in the ownership, management, financing and development of commercial properties. It operates through the following business segments: Offices, Retail, Canada Water, and Other or unallocated. The Canada water segment comprises of office, retail, residential, leisure, and public spaces to create new urban center for London. The Office segment is comprised of office-led campuses in central London as well as standalone buildings. The Retail segment includes leisure, as this is often incorporated into Retail schemes. The Other or unallocated segment includes residential properties The company was founded in 1856 and is headquartered in London, the United Kingdom.

Winston Score History

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

71.2%

Premium pricing power — 71.2% gross margin

Operating Margin

55.7%

Excellent — 55.7% operating margin

ROCE

1.7%

Weak — 1.7% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

-4.3%

Shrinking sales (-4.3% YoY)

EPS YoY

+31.4%

Earnings growing fast (31.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

68%

Modest — 68% of profit becomes cash

FCF Margin

35.3%

Converts sales into free cash efficiently (35.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

0.51

Conservative — low debt load (0.51)

Interest Cover

2.21x

Tight — interest eats into profit (2.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

12.5x

Attractive valuation — P/E 12.5

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

-4.2

SLOWING

Earnings expected to fall — forward P/E higher than today

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend Yield

5.27%

Healthy income — 5.27% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth

+5.8%

Dividend growing modestly (5.8% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial