L 
LondonMetric Property LMP.L · GBp
Real Estate · Equity Real Estate Investment Trusts (REITs) · LSE · 🇬🇧 United Kingdom
FTSE 100
188.20p
+0.16%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£464.6m
FY2017FY2026
Net income
£295.7m
FY2017FY2026
Free cash flow
£236.3m
FY2017FY2026
Shareholders' equity
£4.71bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £464.6m | £396.7m | £178.0m | £146.7m | £133.2m | £122.2m | £113.4m | £80.4m | £90.4m | £81.4m |
| Gross profit | £456.2m | £391.8m | £176.3m | £134.9m | £131.2m | £119.9m | £111.5m | £79.2m | £89.6m | £80.6m |
| Operating income | £414.7m | £464.7m | £161.3m | £124.8m | £115.7m | £109.5m | £93.2m | £65.5m | £75.8m | £67.1m |
| Net income | £295.7m | £347.9m | £118.7m | −£506.3m | £734.5m | £257.3m | −£5.7m | £119.7m | £186.0m | £63.0m |
| Diluted earnings per share | 0.13 | 0.16 | 0.06 | -0.50 | 0.75 | 0.28 | -0.01 | 0.16 | 0.27 | 0.09 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £8.16bn | £6.61bn | £6.48bn | £3.08bn | £3.66bn | £2.63bn | £2.42bn | £1.81bn | £1.83bn | £1.54bn |
| Cash and short-term investments | £143.4m | £41.8m | £111.9m | £32.6m | £51.3m | £51.4m | £81.8m | £20.6m | £26.2m | £42.9m |
| Total liabilities | £3.42bn | £2.48bn | £2.51bn | £1.08bn | £1.09bn | £888.7m | £979.9m | £596.9m | £677.1m | £536.1m |
| Debt | £2.99bn | £2.10bn | £2.12bn | £1.02bn | £1.03bn | £842.7m | £932.6m | £559.0m | £643.6m | £466.3m |
| Shareholders' equity | £4.71bn | £4.09bn | £3.94bn | £1.97bn | £2.56bn | £1.73bn | £1.43bn | £1.22bn | £1.15bn | £1.01bn |
| Shares outstanding | 2,330m | 2,213m | 2,044m | 1,016m | 979m | 912m | 897m | 770m | 701m | 691m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £260.3m | £316.9m | £123.1m | £133.0m | £119.5m | £99.6m | £44.7m | £54.2m | £43.5m | £57.1m |
| Capital spending | −£24.0m | −£32.9m | −£5.8m | −£16.9m | −£51.0m | −£25.6m | −£18.1m | −£400,000 | −£56.2m | −£19.4m |
| Free cash flow | £236.3m | £284.0m | £117.3m | £116.1m | £68.5m | £74.0m | £26.6m | £53.8m | −£12.7m | £37.7m |
| Dividends paid | −£245.3m | −£181.4m | −£90.5m | −£83.3m | −£77.5m | −£72.4m | −£58.4m | −£50.6m | −£43.4m | −£43.7m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £238.9m | £225.7m | £204.8m | £198.0m | £99.8m | £78.2m | £39.1m | £68.2m |
| Gross profit | £233.8m | £222.4m | £202.1m | £195.8m | £98.7m | £77.6m | £38.8m | £67.4m |
| Operating income | £217.1m | £198.6m | £242.1m | £222.6m | £79.9m | £72.9m | £25.3m | £56.1m |
| Net income | £165.4m | £130.3m | £184.1m | £163.8m | £37.7m | £81.0m | — | −£262.9m |
| Diluted earnings per share | 0.07 | 0.06 | 0.08 | 0.08 | 0.02 | 0.08 | — | -0.26 |
| Cash from operations | £144.0m | £115.0m | £184.0m | £132.0m | £48.0m | £41.0m | — | £31.0m |
| Capital spending | −£21.0m | −£2.0m | — | — | — | — | — | — |
| Free cash flow | £123.0m | £113.0m | — | — | — | — | — | — |
| Total assets | £8.16bn | £7.97bn | £6.61bn | £6.60bn | £6.48bn | £3.27bn | — | £3.08bn |
| Cash and short-term investments | £143.4m | £147.3m | £41.8m | £85.5m | £111.9m | £26.2m | — | £32.6m |
| Debt | £2.94bn | £2.78bn | £2.06bn | £2.15bn | £2.08bn | £938.7m | — | £984.5m |
| Shareholders' equity | £4.71bn | £4.69bn | £4.09bn | £4.03bn | £3.94bn | £2.19bn | — | £1.97bn |
Financial ratios
Data as of 16 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 98.2% | 98.8% | 99.0% | 98.9% | 98.5% | 98.1% |
| Operating margin | 99.2% | 117.9% | 90.4% | 86.9% | 86.9% | 89.6% |
| Net margin | 63.6% | 87.7% | 66.7% | -371.2% | 551.4% | 210.6% |
| Return on equity | 6.3% | 8.5% | 3.0% | -25.7% | 28.7% | 14.9% |
| Return on assets | 3.6% | 5.3% | 1.8% | -16.4% | 20.1% | 9.8% |
| Free cash flow yield | 0.1% | 0.1% | 0.0% | 0.1% | 0.1% | 0.1% |
| Revenue growth | 17.1% | 122.9% | 30.5% | 2.4% | 9.0% | 7.8% |
| Earnings growth | -15.0% | 193.1% | -123.4% | -168.9% | 185.5% | -4614.0% |
| Current ratio | 1.78x | 0.21x | 0.68x | 0.45x | 1.46x | 1.35x |
| Debt to equity | 0.62x | 0.50x | 0.53x | 0.50x | 0.42x | 0.51x |
| Equity ratio | 57.8% | 62.0% | 60.8% | 63.9% | 70.0% | 65.9% |
| Interest coverage | 2.82x | 4.07x | 3.93x | 3.26x | 4.48x | 4.72x |
| Buybacks as a share of market value | -5.3% | -8.2% | -101.2% | -3.7% | -7.4% | -1.7% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 46.9% | 30.6% | 19.8% |
| Operating income | 49.2% | 30.5% | 21.0% |
| Net income | — | 2.8% | 13.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 98.5% | 97.7% | 97.8% | 98.1% |
| Operating margin | 102.1% | 98.3% | 96.5% | 93.1% |
| Net margin | 74.7% | 21.6% | 86.6% | 89.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 14.7 | 12.1 | 31.0 | -3.8 | 2.3 | 10.1 | -360.3 | 15.2 | 6.5 | 20.4 |
| Price to sales | 9.3 | 10.6 | 20.7 | 13.3 | 12.7 | 21.1 | 18.1 | 22.6 | 13.5 | 15.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 18 years. Last went ex-dividend on 27 Aug 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.065 | 0.125 | 0.117 | 0.098 | 0.096 | 0.089 | 0.078 | 0.078 |
- 1-to-1 reverse split · 1 Oct 2010
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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