British Land Company (BLND.L)

Real Estate · LSE · UK

£4.36+3.61% today

Fundamentals

Market cap£4.34B

P/E ratio9.4

Dividend yield5.52%

Revenue growth (YoY)+6.9%

Profit margin73.7%

Return on equity7.8%

Next earnings2026-05-20

Valuation and ratings

DCF fair value£5.58

Upside to fair value+28.0%

Analyst target (mean)£4.54

Analyst range£3.05 to £5.34

Analysts covering16

Consensus viewbuy

Moat score70/100

Overall rating80/100, Strong Buy

British Land Company trades at £4.36, which is 28% below the £5.58 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.

Our moat model scores it 70 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.

It changes hands at 9.4 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.

About British Land Company

British Land Company PLC is a UK commercial property company focused on real estate sectors with the strongest operational fundamentals: London campuses and retail parks. We own or manage a portfolio valued at 15.8bn pounds (British Land share: 10.1bn pounds) as at 31 March 2026. Their purpose is to create and manage Places People Prefer outstanding places that deliver positive outcomes for all stakeholders on a long term, sustainable basis. They do this by leveraging their best-in-class platform and proven expertise in development, repositioning and active asset management. British Land Company PLC was incorporated in 1856 in United Kingdom.

Industry: REIT - DiversifiedEmployees: 611HQ: United Kingdom

BLND.L passes 6 of our 30 screens today

Each screen prints the exact criteria it used, and the circumstances in which it is wrong.

Undervalued on cash flow

Companies trading at least 25% below what our discounted cash flow model says the future cash is worth today.

Quality at a fair price

Good businesses, not cheap ones. A wide moat and a strong rating, at a multiple that has not run away.

Dividend powerhouses

Yields above 3%, filtered for the one thing yield screens never check: whether the company can actually afford it.

Highest conviction

The best overall scores in our universe, restricted to companies where we actually hold enough data to have an opinion worth reading.

UK stocks worth a look

The FTSE is a basket of multinationals that happen to be listed in London. That distinction changes everything about what you are buying.

Dividend aristocrats

Companies with long, unbroken records of raising their dividend. The record is the point: it is evidence, not a promise.

Common questions

Is British Land Company (BLND.L) undervalued?

Against our discounted cash flow estimate of £5.58, BLND.L at £4.36 is 28% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.

What is BLND.L's P/E ratio?

BLND.L trades at 9.4 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.

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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.