company background image
CAL

Capital & RegionalLSE:CAL Stock Report

Market Cap

UK£97.6m

7D

-5.6%

1Y

1.0%

Updated

01 Dec, 2021

Data

Company Financials +
CAL fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance0/6
Financial Health3/6
Dividends0/6

CAL Stock Overview

Capital & Regional is a UK focused retail property REIT specialising in shopping centres that dominate their catchment, serving the non-discretionary and value orientated needs of the local communities.

Capital & Regional Competitors

Shaftesbury

LSE:SHB

UK£2.4b

Capital & Counties Properties

LSE:CAPC

UK£1.4b

Hammerson

LSE:HMSO

UK£1.3b

Supermarket Income REIT

LSE:SUPR

UK£1.2b

Price History & Performance

Summary of all time highs, changes and price drops for Capital & Regional
Historical stock prices
Current Share PriceUK£0.59
52 Week HighUK£0.96
52 Week LowUK£0.54
Beta2.41
1 Month Change-3.28%
3 Month Change-12.72%
1 Year Change1.03%
3 Year Change-83.38%
5 Year Change-88.82%
Change since IPO-94.59%

Recent News & Updates

Shareholder Returns

CALGB REITsGB Market
7D-5.6%0.1%-2.6%
1Y1.0%21.4%10.9%

Return vs Industry: CAL underperformed the UK REITs industry which returned 25.9% over the past year.

Return vs Market: CAL underperformed the UK Market which returned 13.8% over the past year.

Price Volatility

Is CAL's price volatile compared to industry and market?
CAL volatility
CAL Average Weekly Movement6.6%
REITs Industry Average Movement2.7%
Market Average Movement4.9%
10% most volatile stocks in GB Market9.8%
10% least volatile stocks in GB Market2.5%

Stable Share Price: CAL is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: CAL's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1979216Lawrence Hutchingshttps://www.capreg.com

Capital & Regional is a UK focused retail property REIT specialising in shopping centres that dominate their catchment, serving the non-discretionary and value orientated needs of the local communities. It has a strong track record of delivering value enhancing retail and leisure asset management opportunities across a portfolio of in-town shopping centres. Capital & Regional is listed on the main market of the London Stock Exchange (LSE) and has a secondary listing on the Johannesburg Stock Exchange (JSE).

Capital & Regional Fundamentals Summary

How do Capital & Regional's earnings and revenue compare to its market cap?
CAL fundamental statistics
Market CapUK£97.56m
Earnings (TTM)-UK£129.20m
Revenue (TTM)UK£70.30m

1.4x

P/S Ratio

-0.8x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CAL income statement (TTM)
RevenueUK£70.30m
Cost of RevenueUK£30.70m
Gross ProfitUK£39.60m
ExpensesUK£168.80m
Earnings-UK£129.20m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-0.78
Gross Margin56.33%
Net Profit Margin-183.78%
Debt/Equity Ratio335.8%

How did CAL perform over the long term?

See historical performance and comparison

Valuation

Is Capital & Regional undervalued compared to its fair value and its price relative to the market?

37.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CAL (£0.59) is trading below our estimate of fair value (£0.95)

Significantly Below Fair Value: CAL is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CAL is unprofitable, so we can't compare its PE Ratio to the UK REITs industry average.

PE vs Market: CAL is unprofitable, so we can't compare its PE Ratio to the UK market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CAL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CAL is good value based on its PB Ratio (0.8x) compared to the GB REITs industry average (0.9x).


Future Growth

How is Capital & Regional forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

80.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CAL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.9%).

Earnings vs Market: CAL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CAL's is expected to become profitable in the next 3 years.

Revenue vs Market: CAL's revenue is expected to decline over the next 3 years (-7.6% per year).

High Growth Revenue: CAL's revenue is forecast to decline over the next 3 years (-7.6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CAL's Return on Equity is forecast to be low in 3 years time (6.4%).


Past Performance

How has Capital & Regional performed over the past 5 years?

-66.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CAL is currently unprofitable.

Growing Profit Margin: CAL is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CAL is unprofitable, and losses have increased over the past 5 years at a rate of 66.1% per year.

Accelerating Growth: Unable to compare CAL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CAL is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (141.2%).


Return on Equity

High ROE: CAL has a negative Return on Equity (-101.97%), as it is currently unprofitable.


Financial Health

How is Capital & Regional's financial position?


Financial Position Analysis

Short Term Liabilities: CAL's short term assets (£110.5M) exceed its short term liabilities (£39.5M).

Long Term Liabilities: CAL's short term assets (£110.5M) do not cover its long term liabilities (£478.8M).


Debt to Equity History and Analysis

Debt Level: CAL's net debt to equity ratio (273.7%) is considered high.

Reducing Debt: CAL's debt to equity ratio has increased from 83.7% to 335.8% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable CAL has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: CAL is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 11% per year.


Dividend

What is Capital & Regional current dividend yield, its reliability and sustainability?

7.97%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate CAL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CAL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CAL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CAL's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: CAL is not paying a notable dividend for the UK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CAL's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.4yrs

Average management tenure


CEO

Lawrence Hutchings (55 yo)

4.42yrs

Tenure

UK£481,000

Compensation

Mr. Lawrence Francis Hutchings has been Chief Executive of Capital & Regional plc since June 13, 2017 and has been its Executive Director since June 13, 2017. Mr. Hutchings has most recently been Managing...


CEO Compensation Analysis

Compensation vs Market: Lawrence's total compensation ($USD636.88K) is above average for companies of similar size in the UK market ($USD324.53K).

Compensation vs Earnings: Lawrence's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: CAL's management team is considered experienced (4.4 years average tenure).


Board Members

Experienced Board: CAL's board of directors are not considered experienced ( 1.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 48%.


Top Shareholders

Company Information

Capital & Regional Plc's employee growth, exchange listings and data sources


Key Information

  • Name: Capital & Regional Plc
  • Ticker: CAL
  • Exchange: LSE
  • Founded: 1979
  • Industry: Retail REITs
  • Sector: Real Estate
  • Market Cap: UK£97.563m
  • Shares outstanding: 165.36m
  • Website: https://www.capreg.com

Number of Employees


Location

  • Capital & Regional Plc
  • 22 Chapter Street
  • London
  • Greater London
  • SW1P 4NP
  • United Kingdom

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/12/01 18:50
End of Day Share Price2021/12/01 00:00
Earnings2021/06/30
Annual Earnings2020/12/30


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 here.