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
699.60	-9.6 [-1.35]	699.40	699.60	707.00	708.00	695.00	1,394,535
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
7,124.16	1,018.32	0.15	39.40	-	17.76	-	799.40 - 428.50

Barratt Developments Key Figures

(at previous day's close)
Market Cap.	7,124.16	m
Shares In Issue	1,018.32	m
Prev. Close	709.20
PE Ratio	17.76
Dividend Yield	-	%
EPS - basic	39.40	p
Dividend PS	-	p
Dividend Cover	-
Cash Flow PS	11.88	p
Return On Equity (ROE)	8.26	%
Operating Margin	14.38	%
PEG Factor	-0.38
EPS Growth Rate	-46.17	%
Dividends PS Growth Rate	-	%
Net Debt	1,404.20	m
Gross Gearing	29.49	%
Quick Assets	708.10	m
Net Working Capital	5,177.80	m
Intangibles / Fixed Assets	84.53	%
Turnover PS	335.77	p
Pre-Tax Profit PS	48.30	p
Retained Profit PS	2.60	p
Cash PS	60.86	p
Net Cash PS	6.05	p
Net Tangible Asset Value PS *	381.53	p
Net Asset Value PS	475.32	p
Spread	0.20 (0.03%)
* 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	739.80	694.60
4 weeks	778.60	694.60
12 weeks	799.40	694.60
1 year	799.40	428.50

Share Price Chart (5 years)

Barratt Developments Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	734.00	-34.40	-4.69	694.60	2.80		714.12
4 weeks	744.40	-44.80	-6.02	694.60	2.29		738.74
12 weeks	757.00	-57.40	-7.58	694.60	2.51		760.34
26 weeks	654.40	45.20	6.91	638.00	3.22		724.15
1 year	511.00	188.60	36.91	428.50	3.73		621.11
3 years	524.20	175.40	33.46	349.40	4.58		588.99
5 years	573.50	126.10	21.99	326.00	4.81		568.36
† 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	46.95
PE Ratio	17.76
Tobin's Q Ratio	1.01
Tobin's Q Ratio (excl. intangibles)	1.17
Dividend Yield	-	%
Market-to-Book Ratio	1.47
Price-to-Pre-Tax Profit PS	14.49
Price-to-Retained Profit PS	268.84
Price-to-Cash Flow PS	58.88
Price-to-Sales PS	2.08
Price-to-Net Tangible Asset Value PS	1.83
Price-to-Cash PS	11.49
Net Working Capital PS	508.47
Price Pct to Working Capital PS	1.38	%
Earnings Yield	5.63	%
Average PE	8.96
Years in average	5
PE to PE average	198.16	%

Barratt Developments Financial Ratios

(Leverage Ratios)
Debt Ratio	23.24	%
Debt-to-Equity Ratio	0.30
Debt-to-Equity Ratio (excl. Intgbl)	0.38
Debt-to-Equity Market Value	0.21
Net Gearing	20.46	%
Net Gearing (excl. Intangibles)	23.76	%
Gross Gearing	29.49	%
Gross Gearing (excl. Intangibles)	34.24	%
Gearing Under 1 Year	8.13	%
Gearing Under 1 Year (excl. Intgbl)	9.44	%
Assets/Equity	1.42
Cash/Equity	12.80
(Liquidity Ratios)
Net Working Capital to Total Assets	75.43	%
Current Ratio	10.28
Quick Ratio (Acid Test)	1.27
Liquidity Ratio	1.11
Cash & Equiv/Current Assets	10.81	%
(Solvency Ratios)
Enterprise Value	7,971.56	m
CFO/Sales	0.04
CFO/Attributable Profit	0.30
CFO/Assets	0.02
CFO/Debt	0.06
Total Debt/Equity Market Value	0.28
Total Debt/Sales	0.59
Total Debt/Pre-Tax Profit	4.12
Total Debt	2,024.00	m
Total Debt/Net Current Assets	0.39	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	4

Beta (60-Mnth)	Beta (36-Mnth)
0.1543	0.1654

Barratt Developments Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	7.80	%
Return On Assets (ROA)	5.69	%
Net Profit Margin	11.69	%
Assets Turnover	0.49
Return On Equity (ROE)	8.26	%
Return On Investment (ROI)	6.77	%
Dividend Payout Ratio	-	%
Plowback Ratio	100.00	%
Growth from Plowback Ratio	8.24	%
Net Income Of Revenues	0.78	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.70
Fixed Assets Turnover	2.97
Current Assets Turnover	0.58
Net Working Capital Turnover
Inventory Turnover	0.69
(Other Operating Ratios)
Total Assets-to-Sales	2.05
Debtors-to-Sales	4.62	%
Debt Collection Period	16.87	Days

Barratt Developments Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
04 Feb 2021	Interim	GBX	7.50	01/07/2020	31/12/2020	15/04/2021	16/04/2021	10/05/2021	-
04 Sep 2019	Special	GBX	17.30	30/06/2018	30/06/2019	10/10/2019	11/10/2019	05/11/2019	-
04 Sep 2019	Final	GBX	19.50	30/06/2018	30/06/2019	10/10/2019	11/10/2019	05/11/2019	46.40
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	Special	GBX	17.30	30/06/2017	30/06/2018	11/10/2018	12/10/2018	06/11/2018	-
05 Sep 2018	Final	GBX	17.90	30/06/2017	30/06/2018	11/10/2018	12/10/2018	06/11/2018	43.80
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	Final	GBX	12.30	30/06/2015	30/06/2016	27/10/2016	28/10/2016	21/11/2016	30.70
07 Sep 2016	Special	GBX	12.40	30/06/2015	30/06/2016	27/10/2016	28/10/2016	21/11/2016	-
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	Final	GBX	10.30	30/06/2014	30/06/2015	29/10/2015	30/10/2015	20/11/2015	25.10
09 Sep 2015	Special	GBX	10.00	30/06/2014	30/06/2015	29/10/2015	30/10/2015	20/11/2015	-
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 2017 (GBP)		30 Jun 2018 (GBP)		30 Jun 2019 (GBP)		30 Jun 2020 (GBP)
turnover	4,650.20	100.00%	4,874.80	100.00%	4,763.10	100.00%	3,419.20	100.00%	m
pre tax profit	765.10	16.45%	835.50	17.14%	909.80	19.10%	491.80	14.38%	m
attributable profit	615.80	13.24%	671.70	13.78%	740.00	15.54%	399.70	11.69%	m
retained profit	294.10	6.32%	236.80	4.86%	287.70	6.04%	26.50	0.78%	m
eps - basic (p)	61.30		66.50		73.20		39.40
eps - diluted (p)	60.70		65.90		72.30		38.90
dividends per share	41.70		43.80		46.40		-

Barratt Developments Balance Sheet

	30 Jun 2017 (GBP)		30 Jun 2018 (GBP)		30 Jun 2019 (GBP)		30 Jun 2020 (GBP)


	30 Jun 2017 (GBP)		30 Jun 2018 (GBP)		30 Jun 2019 (GBP)		30 Jun 2020 (GBP)
ASSETS
fixed assets	9.50	0.14%	11.60	0.17%	17.40	0.24%	19.00	0.28%	m
intangibles	892.20	13.49%	892.20	12.88%	908.20	12.64%	953.70	13.89%	m
fixed investments	243.40	3.68%	296.20	4.27%	251.60	3.50%	155.60	2.27%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	4,475.40	67.69%	4,516.70	65.19%	4,824.30	67.12%	5,027.90	73.25%	m
debtors	207.20	3.13%	229.90	3.32%	227.70	3.17%	88.30	1.29%	m
cash & securities	784.40	11.86%	982.40	14.18%	958.30	13.33%	619.80	9.03%	m

TOTAL	6,612.10	100%	6,929.00	100%	7,187.50	100%	6,864.30	100%	m

LIABILITIES
creditors - short	1,683.60	25.46%	1,548.20	22.34%	1,687.40	23.48%	558.20	8.13%	m
creditors - long	606.30	9.17%	783.10	11.30%	631.10	8.78%	1,465.80	21.35%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	2,289.90	34.63%	2,331.30	33.65%	2,318.50	32.26%	2,024.00	29.49%	m

EQUITY
ord cap, reserves	4,313.10	65.23%	4,590.20	66.25%	4,862.10	67.65%	4,838.90	70.49%	m
prefs, minorities	9.10	0.14%	7.50	0.11%	6.90	0.10%	1.40	0.02%	m

TOTAL	4,322.20	65.37%	4,597.70	66.35%	4,869.00	67.74%	4,840.30	70.51%	m

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

Barratt Developments Cash Flow Statement

	30 Jun 2017 (GBP)	30 Jun 2018 (GBP)	30 Jun 2019 (GBP)	30 Jun 2020 (GBP)
Operating CF	388.60	514.30	361.30	121.00	m
Pre-Financing CF	454.50	504.60	442.80	-59.80	m
Retained CF	26.40	198.00	-24.10	-516.20	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