Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Land Securities Group plc is a real estate investment trust (REIT) and the largest commercial property development and investment company in the United Kingdom. Founded in 1944 by Harold Samuel, it specializes in owning, developing, managing, buying, and selling commercial properties, with a primary focus on high-quality urban places that stand the test of time. Its portfolio, valued at approximately £10.9 billion as of March 2025, encompasses over 23.5 million square feet across central London offices, major retail destinations like shopping centres and retail parks, and mixed-use urban neighbourhoods. Key segments include the Central London portfolio (£6.7 billion, 5.3 million sq ft), Regional Retail (£2.6 billion, 10.4 million sq ft), and Urban Opportunities. Revenue is predominantly derived from rental income through medium- to long-term leases, evenly split between London offices and retail properties. Headquartered at 100 Victoria Street in London, the company employs 704 people and plays a pivotal role in shaping UK cities by curating spaces that foster business growth, community life, and leisure experiences.
48.39% operating margin is above average. ROIC at 3.78%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 4.6%, steady but not accelerating. Margins contracted 4.3pp, which offsets some of the top-line progress.
Free cash flow declined 28% versus the prior year, cash generation momentum has weakened. Net debt of £4.39B represents 65.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
£870M
▲ +4.6% YoY
Net Income (TTM)
£344M
▼ -13.1% YoY
Op. Margin
48.39%
▼ -4.3pp YoY
ROIC
3.78%
▼ -0.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
£67M
▼ -28.0% YoY
Op. Cash Flow (TTM)
£465M
▲ +11.8% YoY
Net Debt
£4.39B
Cash & Equiv.
£106M
3Y CAGR: +3.2%
3Y CAGR: -34.6%
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