British Land Company PLC

DB:BLD Stock Report

Market Cap: €5.3b

British Land Valuation

Is BLD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BLD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: BLD (€5.18) is trading below our estimate of future cash flow value (€6.8)

Significantly Below Future Cash Flow Value: BLD is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BLD?

Key metric: As BLD is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BLD. This is calculated by dividing BLD's market cap by their current earnings.
What is BLD's PE Ratio?
PE Ratio9.9x
EarningsUK£454.00m
Market CapUK£4.51b

Price to Earnings Ratio vs Peers

How does BLD's PE Ratio compare to its peers?

The above table shows the PE ratio for BLD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.2x
N2IU Mapletree Pan Asia Commercial Trust
27.5x9.55%S$7.2b
COV Covivio
9.2x-3.99%€6.0b
LAND Land Securities Group
15.3x15.63%UK£5.3b
FUNO 11 Fibra UNO
5x-18.21%Mex$120.9b
BLD British Land
9.9x9.35%€4.5b

Price-To-Earnings vs Peers: BLD is good value based on its Price-To-Earnings Ratio (9.9x) compared to the peer average (14.2x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does BLD's PE Ratio compare vs other companies in the European REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BLD 9.9xIndustry Avg. 15.4xNo. of Companies12PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BLD is good value based on its Price-To-Earnings Ratio (9.9x) compared to the European REITs industry average (15.4x).

Price to Earnings Ratio vs Fair Ratio

What is BLD's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BLD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BLD's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BLD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€5.18
€5.30
+2.45%
13.08%€6.22€3.55n/a16
Jul ’27€4.79
€5.26
+9.82%
12.91%€6.20€3.54n/a16
Jun ’27€4.66
€5.28
+13.39%
12.54%€6.15€3.53n/a16
May ’27€4.38
€5.25
+19.79%
12.46%€6.13€3.52n/a16
Apr ’27€4.13
€5.17
+25.09%
13.18%€6.11€3.57n/a13
Mar ’27€4.66
€5.19
+11.21%
13.53%€6.09€3.55n/a13
Feb ’27€4.79
€5.23
+9.19%
13.70%€6.22€3.58n/a13
Jan ’27€4.57
€5.11
+11.78%
11.55%€5.83€3.52n/a16
Dec ’26€4.66
€4.96
+6.26%
11.38%€5.80€3.51n/a16
Nov ’26€4.31
€4.89
+13.59%
11.19%€5.81€3.51n/a16
Oct ’26€3.97
€4.92
+23.68%
11.67%€5.86€3.42n/a16
Sep ’26€3.90
€5.09
+30.45%
10.51%€5.90€3.45n/a16
Aug ’26€4.04
€5.13
+27.02%
11.09%€5.90€3.45n/a16
Jul ’26€4.38
€5.22
+19.14%
8.58%€5.94€4.24€4.7916
Jun ’26€4.68
€5.30
+13.38%
8.66%€6.05€4.32€4.6616
May ’26€4.59
€5.12
+11.64%
11.64%€5.97€3.56€4.3816
Apr ’26€4.44
€5.33
+20.14%
11.11%€6.12€3.65€4.1316
Mar ’26€4.36
€5.43
+24.59%
11.27%€6.28€3.74€4.6617
Feb ’26€4.48
€5.35
+19.36%
11.43%€6.21€3.70€4.7917
Jan ’26€4.29
€5.66
+31.93%
11.53%€6.87€3.86€4.5717
Dec ’25€4.68
€5.64
+20.50%
12.56%€6.86€3.85€4.6617
Nov ’25€4.73
€5.65
+19.50%
12.62%€6.86€3.81€4.3117
Oct ’25€5.23
€5.53
+5.82%
12.70%€6.42€3.80€3.9716
Sep ’25€4.74
€5.37
+13.39%
11.97%€6.23€3.67€3.9016
Aug ’25€4.83
€5.37
+11.23%
11.97%€6.23€3.67€4.0416
Jul ’25€4.82
€5.24
+8.55%
14.54%€6.22€3.65€4.3816
€5.35
Fair Value
3.3% undervalued intrinsic discount
16
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/29 14:21
End of Day Share Price 2026/07/29 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

British Land Company PLC is covered by 27 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Aaron GuyBarclays
Eleanor FrewBarclays
Celine HuynhBarclays