B 
British Land Company BLND.L · GBp
Real Estate · Equity Real Estate Investment Trusts (REITs) · LSE · 🇬🇧 United Kingdom
FTSE 100
430.60p
0.00%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£525.0m
FY2017FY2026
Net income
£454.0m
FY2017FY2026
Free cash flow
£185.0m
FY2017FY2026
Shareholders' equity
£5.93bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £525.0m | £454.0m | £575.0m | £418.0m | £412.0m | £520.0m | £670.0m | £971.0m | £741.0m | £716.0m |
| Gross profit | £378.0m | £331.0m | £429.0m | £321.0m | £279.0m | £340.0m | £452.0m | £572.0m | £541.0m | £568.0m |
| Operating income | £270.0m | £249.0m | £344.0m | £233.0m | £191.0m | £266.0m | £379.0m | £492.0m | £459.0m | £484.0m |
| Net income | £454.0m | £338.0m | −£1.0m | −£1.04bn | £963.0m | −£1.03bn | −£1.03bn | −£291.0m | £493.0m | £193.0m |
| Diluted earnings per share | 0.45 | 0.34 | -0.00 | -1.12 | 1.04 | -1.11 | -0.96 | -0.27 | 0.46 | 0.18 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £9.36bn | £8.88bn | £7.97bn | £8.29bn | £9.91bn | £8.88bn | £11.24bn | £12.26bn | £13.18bn | £13.47bn |
| Cash and short-term investments | £176.0m | £57.0m | £88.0m | £125.0m | £111.0m | £154.0m | £193.0m | £242.0m | £105.0m | £114.0m |
| Total liabilities | £3.43bn | £3.17bn | £2.66bn | £2.77bn | £3.14bn | £2.89bn | £4.10bn | £3.57bn | £3.67bn | £3.99bn |
| Debt | £3.10bn | £2.84bn | £2.34bn | £2.39bn | £2.75bn | £2.54bn | £3.67bn | £3.12bn | £3.19bn | £3.35bn |
| Shareholders' equity | £5.93bn | £5.71bn | £5.30bn | £5.51bn | £6.75bn | £5.92bn | £7.04bn | £8.48bn | £9.25bn | £9.22bn |
| Shares outstanding | 1,004m | 1,000m | 930m | 927m | 930m | 930m | 1,075m | 1,075m | 1,075m | 1,091m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £309.0m | £270.0m | £409.0m | £240.0m | £245.0m | £149.0m | £375.0m | £613.0m | £353.0m | £363.0m |
| Capital spending | −£124.0m | −£216.0m | −£312.0m | −£209.0m | −£259.0m | −£172.0m | −£259.0m | −£218.0m | −£190.0m | −£225.0m |
| Free cash flow | £185.0m | £54.0m | £97.0m | £31.0m | −£14.0m | −£23.0m | £116.0m | £395.0m | £163.0m | £138.0m |
| Dividends paid | −£229.0m | −£220.0m | −£213.0m | −£213.0m | −£155.0m | −£76.0m | −£295.0m | −£298.0m | −£304.0m | −£295.0m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £264.0m | £261.0m | £289.0m | £216.0m | £232.0m | £438.0m | £219.0m | £225.0m |
| Gross profit | £188.0m | £190.0m | £227.0m | £155.0m | £186.0m | £338.0m | £169.0m | £179.0m |
| Operating income | £147.0m | £123.0m | £185.0m | £82.0m | £114.0m | £7.0m | £120.0m | £134.0m |
| Net income | £236.0m | £218.0m | £229.0m | £109.0m | £60.0m | −£61.0m | −£30.5m | −£1.01bn |
| Diluted earnings per share | 0.24 | 0.22 | 0.23 | 0.12 | 0.06 | -0.07 | -0.03 | -1.09 |
| Cash from operations | £165.0m | £144.0m | £158.0m | £112.0m | £127.0m | £282.0m | — | £128.0m |
| Capital spending | −£50.0m | −£74.0m | −£98.0m | −£118.0m | −£171.0m | −£141.0m | — | −£81.0m |
| Free cash flow | £115.0m | £70.0m | £60.0m | −£6.0m | −£44.0m | £141.0m | — | £47.0m |
| Total assets | £9.36bn | £8.99bn | £8.88bn | £8.29bn | £7.97bn | £8.10bn | £8.10bn | £8.29bn |
| Cash and short-term investments | £176.0m | £86.0m | £57.0m | £88.0m | £88.0m | £152.0m | £152.0m | £125.0m |
| Debt | £3.00bn | £2.77bn | £2.73bn | £2.57bn | £2.22bn | £2.24bn | £2.13bn | £2.27bn |
| Shareholders' equity | £5.93bn | £5.82bn | £5.71bn | £5.31bn | £5.30bn | £5.35bn | £5.37bn | £5.51bn |
Financial ratios
Data as of 21 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 72.0% | 72.9% | 74.6% | 76.8% | 67.7% | 65.4% |
| Operating margin | 109.0% | 100.0% | 21.2% | -225.8% | 254.1% | 51.2% |
| Net margin | 86.5% | 74.4% | -0.2% | -248.3% | 233.7% | -198.3% |
| Return on equity | 7.7% | 5.9% | -0.0% | -18.8% | 14.3% | -17.4% |
| Return on assets | 4.9% | 3.8% | -0.0% | -12.5% | 9.7% | -11.6% |
| Free cash flow yield | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% |
| Revenue growth | 15.6% | -21.0% | 37.6% | 1.5% | -20.8% | -22.4% |
| Earnings growth | 34.3% | -33900.0% | -99.9% | -207.8% | -193.4% | 0.4% |
| Current ratio | 0.15x | 0.25x | 0.59x | 0.27x | 0.41x | 0.61x |
| Debt to equity | 0.51x | 0.48x | 0.42x | 0.41x | 0.39x | 0.41x |
| Equity ratio | 63.4% | 64.3% | 66.5% | 66.5% | 68.1% | 66.7% |
| Interest coverage | 4.69x | 4.32x | 1.14x | -10.49x | 12.46x | 2.86x |
| Buybacks as a share of market value | -0.4% | -7.5% | -0.3% | 0.3% | 0.0% | 13.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.9% | 0.2% | -1.2% |
| Operating income | 5.0% | 0.3% | -5.8% |
| Net income | — | — | -10.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 72.4% | 74.0% | 71.6% | 72.8% |
| Operating margin | 53.0% | 55.6% | 53.5% | 58.5% |
| Net margin | 80.9% | -12.5% | -10.8% | 6.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.5 | 11.9 | -3351.7 | -3.6 | 3.8 | -4.8 | -5.1 | -23.6 | 11.6 | 39.1 |
| Price to sales | 8.2 | 8.9 | 5.8 | 8.9 | 8.9 | 9.5 | 7.8 | 7.1 | 7.7 | 10.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 18 Jun 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.108 | 0.229 | 0.229 | 0.232 | 0.232 | 0.17 | 0.084 | 0.198 |
- 1-to-1 reverse split · 28 Jul 2005
- 1-to-1 reverse split · 17 Nov 2003
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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