Barratt Developments (BDEV)

Company name:	Barratt Developments Plc
Company Description:	United Kingdom and American housebuilding
EPIC:	BDEV	Trading Currency:	GBX
Market Sector:	FS10	ISIN:	GB0000811801
Market Segment:	SET1	Share Type:	DE
WWW Address:	http://www.barratthomes.co.uk/	Description:	ORD 10P
Industry Sector:	HOUSEHOLD GOODS & HOME CONSTRUCTION

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
757.20	-11.6 [-1.51]	761.60	762.40	739.00	762.00	714.20	18,987,109
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
7,710.47	1,018.29	0.07	73.20	-	10.34	-	889.00 - 535.60

Barratt Developments Key Figures

(at previous day's close)
Market Cap.	7,710.47	m
Shares In Issue	1,018.29	m
Prev. Close	768.80
PE Ratio	10.34
Dividend Yield	-	%
EPS - basic	73.20	p
Dividend PS	-	p
Dividend Cover	-
Cash Flow PS	35.48	p
Return On Equity (ROE)	15.22	%
Operating Margin	19.10	%
PEG Factor	1.03
EPS Growth Rate	10.08	%
Dividends PS Growth Rate	-	%
Net Debt	1,360.20	m
Gross Gearing	32.26	%
Quick Assets	1,186.00	m
Net Working Capital	4,322.90	m
Intangibles / Fixed Assets	77.15	%
Turnover PS	467.76	p
Pre-Tax Profit PS	89.35	p
Retained Profit PS	28.25	p
Cash PS	94.11	p
Net Cash PS	-71.60	p
Net Tangible Asset Value PS *	388.29	p
Net Asset Value PS	478.16	p
Spread	0.80 (0.10%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Barratt Developments Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	870.80	714.20
4 weeks	889.00	714.20
12 weeks	889.00	642.40
1 year	889.00	535.60

Share Price Chart (5 years)

Barratt Developments Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	866.60	-109.40	-12.62	714.20	5.70		808.99
4 weeks	807.00	-49.80	-6.17	714.20	5.16		831.56
12 weeks	672.00	85.20	12.68	642.40	4.35		788.26
26 weeks	648.40	108.80	16.78	568.80	4.47		704.66
1 year	596.20	161.00	27.00	535.60	4.33		655.99
3 years	511.50	245.70	48.04	430.00	4.71		593.25
5 years	513.50	243.70	47.46	326.00	4.67		568.85
† periods calculated are whole weeks rather than calendar months

Barratt Developments Key Management Ratios

Barratt Developments Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	17.04
PE Ratio	10.34
Tobin's Q Ratio	1.09
Tobin's Q Ratio (excl. intangibles)	1.25
Dividend Yield	-	%
Market-to-Book Ratio	1.59
Price-to-Pre-Tax Profit PS	8.47
Price-to-Retained Profit PS	26.80
Price-to-Cash Flow PS	21.34
Price-to-Sales PS	1.62
Price-to-Net Tangible Asset Value PS	1.95
Price-to-Cash PS	8.05
Net Working Capital PS	424.53
Price Pct to Working Capital PS	1.78	%
Earnings Yield	9.67	%
Average PE	9.13
Years in average	5
PE to PE average	113.35	%

Barratt Developments Financial Ratios

(Leverage Ratios)
Debt Ratio	11.47	%
Debt-to-Equity Ratio	0.13
Debt-to-Equity Ratio (excl. Intgbl)	0.16
Debt-to-Equity Market Value	0.08
Net Gearing	18.92	%
Net Gearing (excl. Intangibles)	21.66	%
Gross Gearing	32.26	%
Gross Gearing (excl. Intangibles)	36.92	%
Gearing Under 1 Year	23.48	%
Gearing Under 1 Year (excl. Intgbl)	26.87	%
Assets/Equity	1.48
Cash/Equity	19.68
(Liquidity Ratios)
Net Working Capital to Total Assets	60.14	%
Current Ratio	3.56
Quick Ratio (Acid Test)	0.70
Liquidity Ratio	0.57
Cash & Equiv/Current Assets	15.94	%
(Solvency Ratios)
Enterprise Value	7,390.17	m
CFO/Sales	0.08
CFO/Attributable Profit	0.49
CFO/Assets	0.05
CFO/Debt	0.16
Total Debt/Equity Market Value	0.30
Total Debt/Sales	0.49
Total Debt/Pre-Tax Profit	2.55
Total Debt	2,318.50	m
Total Debt/Net Current Assets	0.54	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	6.09	%
5 yr Compound Earnings Growth	9.98	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	3

Beta (60-Mnth)	Beta (36-Mnth)
0.0721	0.2462

Barratt Developments Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	16.54	%
Return On Assets (ROA)	10.48	%
Net Profit Margin	15.54	%
Assets Turnover	0.67
Return On Equity (ROE)	15.22	%
Return On Investment (ROI)	13.60	%
Dividend Payout Ratio	-	%
Plowback Ratio	100.00	%
Growth from Plowback Ratio	15.66	%
Net Income Of Revenues	6.04	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	1.01
Fixed Assets Turnover	4.01
Current Assets Turnover	0.81
Net Working Capital Turnover
Inventory Turnover	1.02
(Other Operating Ratios)
Total Assets-to-Sales	1.48
Debtors-to-Sales	4.80	%
Debt Collection Period	17.53	Days

Barratt Developments Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
06 Feb 2020	Interim	GBX	9.80	31/12/2019	31/12/2020	16/04/2020	17/04/2020	11/05/2020	-
04 Sep 2019	Final	GBX	19.50	31/12/2018	31/12/2019	10/10/2019	11/10/2019	05/11/2019	46.40
04 Sep 2019	Special	GBX	17.30	31/12/2018	31/12/2019	10/10/2019	11/10/2019	05/11/2019	-
06 Feb 2019	Interim	GBX	9.60	01/07/2018	31/12/2018	11/04/2019	12/04/2019	07/05/2019	-
05 Sep 2018	Final	GBX	17.90	30/06/2017	30/06/2018	11/10/2018	12/10/2018	06/11/2018	43.80
05 Sep 2018	Special	GBX	17.30	30/06/2017	30/06/2018	11/10/2018	12/10/2018	06/11/2018	-
21 Feb 2018	Interim	GBX	8.60	01/07/2017	31/12/2017	19/04/2018	20/04/2018	18/05/2018	-
06 Sep 2017	Final	GBX	17.10	30/06/2016	30/06/2017	26/10/2017	27/10/2017	20/11/2017	41.70
06 Sep 2017	Special	GBX	17.30	30/06/2016	30/06/2017	26/10/2017	27/10/2017	20/11/2017	-
22 Feb 2017	Interim	GBX	7.30	01/07/2016	31/12/2016	20/04/2017	21/04/2017	19/05/2017	-
07 Sep 2016	Special	GBX	12.40	30/06/2015	30/06/2016	27/10/2016	28/10/2016	21/11/2016	-
07 Sep 2016	Final	GBX	12.30	30/06/2015	30/06/2016	27/10/2016	28/10/2016	21/11/2016	30.70
24 Feb 2016	Interim	GBX	6.00	01/07/2015	31/12/2015	28/04/2016	29/04/2016	20/05/2016	-
09 Sep 2015	Special	GBX	10.00	30/06/2014	30/06/2015	29/10/2015	30/10/2015	20/11/2015	-
09 Sep 2015	Final	GBX	10.30	30/06/2014	30/06/2015	29/10/2015	30/10/2015	20/11/2015	25.10
25 Feb 2015	Interim	GBX	4.80	01/07/2014	31/12/2014	23/04/2015	24/04/2015	20/05/2015	-
10 Sep 2014	Final	GBX	7.10	30/06/2013	30/06/2014	29/10/2014	31/10/2014	20/11/2014	10.30
27 Feb 2014	Interim	GBX	3.20	01/07/2013	31/12/2013	20/04/2014	22/04/2014	20/05/2014	-
06 Mar 2008	Interim	GBX	12.23	31/12/2006	31/12/2007	23/04/2008	25/04/2008	23/05/2008	12.23
26 Sep 2007	Final	GBX	24.30	30/06/2006	30/06/2007	31/10/2007	02/11/2007	28/11/2007	35.68
25 Feb 2007	Interim	GBX	11.38	01/07/2006	31/12/2006	28/03/2007	30/03/2007	25/05/2007	-
26 Sep 2006	Final	GBX	20.69	30/06/2005	30/06/2006	01/11/2006	03/11/2006	29/11/2006	31.03
29 Mar 2006	Interim	GBX	10.34	01/07/2005	31/12/2005	03/05/2006	05/05/2006	26/05/2006	-
28 Sep 2005	Final	GBX	17.99	30/06/2004	30/06/2005	19/10/2005	21/10/2005	18/11/2005	26.98
23 Mar 2005	Interim	GBX	8.99	01/07/2004	31/12/2004	27/04/2005	29/04/2005	20/05/2005	-
22 Sep 2004	Final	GBX	14.68	30/06/2003	30/06/2004	20/10/2004	22/10/2004	19/11/2004	21.58
24 Mar 2004	Interim	GBX	6.90	01/07/2003	31/12/2003	28/04/2004	30/04/2004	21/05/2004	-
24 Sep 2003	Final	GBX	12.32	30/06/2002	30/06/2003	01/10/2003	03/10/2003	21/11/2003	17.26
26 Mar 2003	Interim	GBX	4.94	01/07/2002	31/12/2002	09/04/2003	11/04/2003	23/05/2003	-
25 Sep 2002	Final	GBX	9.89	30/06/2001	30/06/2002	02/10/2002	04/10/2002	15/11/2002	14.38
27 Mar 2002	Interim	GBX	4.49	01/07/2001	31/12/2001	10/04/2002	12/04/2002	24/05/2002	-
26 Sep 2001	Final	GBX	8.91	30/06/2000	30/06/2001	03/10/2001	05/10/2001	16/11/2001	13.07
28 Mar 2001	Interim	GBX	4.16	01/07/2000	31/12/2000	04/04/2001	06/04/2001	25/05/2001	-
20 Sep 2000	Final	GBX	8.03	30/06/1999	30/06/2000	02/10/2000	06/10/2000	17/11/2000	11.88
22 Mar 2000	Interim	GBX	3.85	01/07/1999	31/12/1999	03/04/2000	07/04/2000	19/05/2000	-
22 Sep 1999	Final	GBX	7.24	30/06/1998	30/06/1999	04/10/1999	08/10/1999	19/11/1999	10.80
23 Sep 1998	Final	GBX	6.70	30/06/1997	30/06/1998	05/10/1998	09/10/1998	20/11/1998	10.00

Barratt Developments Fundamentals

	30 Jun 2016 (GBP)		30 Jun 2017 (GBP)		30 Jun 2018 (GBP)		30 Jun 2019 (GBP)
turnover	4,235.20	100.00%	4,650.20	100.00%	4,874.80	100.00%	4,763.10	100.00%	m
pre tax profit	682.30	16.11%	765.10	16.45%	835.50	17.14%	909.80	19.10%	m
attributable profit	550.30	12.99%	615.80	13.24%	671.70	13.78%	740.00	15.54%	m
retained profit	287.10	6.78%	294.10	6.32%	236.80	4.86%	287.70	6.04%	m
eps - basic (p)	55.10		61.30		66.50		73.20
eps - diluted (p)	54.30		60.70		65.90		72.30
dividends per share	30.70		41.70		43.80		-

Barratt Developments Balance Sheet

	30 Jun 2016 (GBP)		30 Jun 2017 (GBP)		30 Jun 2018 (GBP)		30 Jun 2019 (GBP)


	30 Jun 2016 (GBP)		30 Jun 2017 (GBP)		30 Jun 2018 (GBP)		30 Jun 2019 (GBP)
ASSETS
fixed assets	9.60	0.15%	9.50	0.14%	11.60	0.17%	17.40	0.24%	m
intangibles	892.20	13.90%	892.20	13.49%	892.20	12.88%	908.20	12.64%	m
fixed investments	280.40	4.37%	243.40	3.68%	296.20	4.27%	251.60	3.50%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	4,326.60	67.41%	4,475.40	67.69%	4,516.70	65.19%	4,824.30	67.12%	m
debtors	151.20	2.36%	207.20	3.13%	229.90	3.32%	227.70	3.17%	m
cash & securities	758.00	11.81%	784.40	11.86%	982.40	14.18%	958.30	13.33%	m

TOTAL	6,418.00	100%	6,612.10	100%	6,929.00	100%	7,187.50	100%	m

LIABILITIES
creditors - short	1,588.40	24.75%	1,683.60	25.46%	1,548.20	22.34%	1,687.40	23.48%	m
creditors - long	819.40	12.77%	606.30	9.17%	783.10	11.30%	631.10	8.78%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	2,407.80	37.52%	2,289.90	34.63%	2,331.30	33.65%	2,318.50	32.26%	m

EQUITY
ord cap, reserves	4,001.30	62.34%	4,313.10	65.23%	4,590.20	66.25%	4,862.10	67.65%	m
prefs, minorities	8.90	0.14%	9.10	0.14%	7.50	0.11%	6.90	0.10%	m

TOTAL	4,010.20	62.48%	4,322.20	65.37%	4,597.70	66.35%	4,869.00	67.74%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Barratt Developments Cash Flow Statement

	30 Jun 2016 (GBP)	30 Jun 2017 (GBP)	30 Jun 2018 (GBP)	30 Jun 2019 (GBP)
Operating CF	652.90	388.60	514.30	361.30	m
Pre-Financing CF	665.60	454.50	504.60	442.80	m
Retained CF	397.60	26.40	198.00	-24.10	m

Barratt Developments Brokers

Name	Activity	Type	Mnemonic	Code
Arbuthnot Securities Limited	Market Maker(MME)	Broker/Dealer	ARBT	ALESGB31MKT
Evolution Securities Limited	Market Maker(MME)	Broker/Dealer	EVO	EVBGGB21MMT
Shore Capital Stockbrokers Ltd	Market Maker(MME)	Broker/Dealer	SCAP	SHOCGB21
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC