British Land Company Plc
British Land is a UK commercial property company focused on real estate sectors with the strongest operational fundamentals: London campuses, retail parks, and London urban logistics. We own or manage a portfolio valued at £14.6bn (British Land share: £9.5bn) as at 31 March 2025. Our purpose is to create and manage Places People Prefer - outstanding places that deliver positive outcomes for all o… Read more
British Land Company Plc (BRLAF) - Net Assets
Latest net assets as of September 2025: $5.82 Billion USD
Based on the latest financial reports, British Land Company Plc (BRLAF) has net assets worth $5.82 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($8.99 Billion) and total liabilities ($3.17 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $5.82 Billion |
| % of Total Assets | 64.7% |
| Annual Growth Rate | 8.04% |
| 5-Year Change | -4.56% |
| 10-Year Change | -40.64% |
| Growth Volatility | 24.56 |
British Land Company Plc - Net Assets Trend (1986–2025)
This chart illustrates how British Land Company Plc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for British Land Company Plc (1986–2025)
The table below shows the annual net assets of British Land Company Plc from 1986 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | $5.71 Billion | +7.49% |
| 2024-03-31 | $5.31 Billion | -3.86% |
| 2023-03-31 | $5.53 Billion | -17.94% |
| 2022-03-31 | $6.73 Billion | +12.54% |
| 2021-03-31 | $5.98 Billion | -16.29% |
| 2020-03-31 | $7.15 Billion | -17.75% |
| 2019-03-31 | $8.69 Billion | -8.59% |
| 2018-03-31 | $9.51 Billion | +0.32% |
| 2017-03-31 | $9.48 Billion | -1.49% |
| 2016-03-31 | $9.62 Billion | +12.31% |
| 2015-03-31 | $8.56 Billion | +20.35% |
| 2014-03-31 | $7.12 Billion | +25.15% |
| 2013-03-31 | $5.69 Billion | +11.42% |
| 2012-03-31 | $5.10 Billion | +3.42% |
| 2011-03-31 | $4.93 Billion | +17.17% |
| 2010-03-31 | $4.21 Billion | +31.09% |
| 2009-03-31 | $3.21 Billion | -52.68% |
| 2008-03-31 | $6.79 Billion | -22.37% |
| 2007-03-31 | $8.75 Billion | +45.27% |
| 2006-03-31 | $6.02 Billion | +25.75% |
| 2005-03-31 | $4.79 Billion | +2.54% |
| 2004-03-31 | $4.67 Billion | +13.24% |
| 2003-03-31 | $4.12 Billion | +0.37% |
| 2002-03-31 | $4.11 Billion | +4.94% |
| 2001-03-31 | $3.91 Billion | +13.48% |
| 2000-03-31 | $3.45 Billion | +10.64% |
| 1999-03-31 | $3.12 Billion | +6.33% |
| 1998-03-31 | $2.93 Billion | +25.45% |
| 1997-03-31 | $2.34 Billion | +25.07% |
| 1996-03-31 | $1.87 Billion | +18.32% |
| 1995-03-31 | $1.58 Billion | +20.82% |
| 1994-03-31 | $1.31 Billion | +68.58% |
| 1993-03-31 | $775.50 Million | +4.56% |
| 1992-03-31 | $741.70 Million | -10.49% |
| 1991-03-31 | $828.60 Million | -13.93% |
| 1990-03-31 | $962.70 Million | -6.78% |
| 1989-03-31 | $1.03 Billion | +29.46% |
| 1988-03-31 | $797.70 Million | +59.38% |
| 1987-03-31 | $500.50 Million | +79.01% |
| 1986-03-31 | $279.60 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to British Land Company Plc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 7317.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $3.64 Billion | 63.78% |
| Common Stock | $253.00 Million | 4.43% |
| Other Components | $1.81 Billion | 31.79% |
| Total Equity | $5.71 Billion | 100.00% |
British Land Company Plc Competitors by Market Cap
The table below lists competitors of British Land Company Plc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Air China Ltd Class A
SHG:601111
|
$5.24 Billion |
|
Granite Construction Incorporated
NYSE:GVA
|
$5.25 Billion |
|
EMS-CHEMIE HOLDING AG
PINK:EMSHF
|
$5.25 Billion |
|
Middleby Corp
NASDAQ:MIDD
|
$5.25 Billion |
|
White Mountains Insurance Group Ltd
NYSE:WTM
|
$5.24 Billion |
|
TPG Inc
NASDAQ:TPG
|
$5.23 Billion |
|
Kawasaki Kisen Kaisha Ltd
F:KLI1
|
$5.22 Billion |
|
Bombardier Inc A
OTCQX:BDRAF
|
$5.22 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in British Land Company Plc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,299,000,000 to 5,710,000,000, a change of 411,000,000 (7.8%).
- Net income of 338,000,000 contributed positively to equity growth.
- Dividend payments of 220,000,000 reduced retained earnings.
- New share issuances of 295,000,000 increased equity.
- Other comprehensive income decreased equity by 226,000,000.
- Other factors increased equity by 224,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $338.00 Million | +5.92% |
| Dividends Paid | $220.00 Million | -3.85% |
| Share Issuances | $295.00 Million | +5.17% |
| Other Comprehensive Income | $-226.00 Million | -3.96% |
| Other Changes | $224.00 Million | +3.92% |
| Total Change | $- | 7.76% |
Book Value vs Market Value Analysis
This analysis compares British Land Company Plc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.96x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 3.66x to 0.96x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1986-03-31 | $1.56 | $5.69 | x |
| 1987-03-31 | $2.24 | $5.69 | x |
| 1988-03-31 | $2.88 | $5.69 | x |
| 1989-03-31 | $3.58 | $5.69 | x |
| 1990-03-31 | $3.33 | $5.69 | x |
| 1991-03-31 | $2.83 | $5.69 | x |
| 1992-03-31 | $2.10 | $5.69 | x |
| 1993-03-31 | $2.26 | $5.69 | x |
| 1994-03-31 | $3.33 | $5.69 | x |
| 1995-03-31 | $3.49 | $5.69 | x |
| 1996-03-31 | $3.42 | $5.69 | x |
| 1997-03-31 | $3.89 | $5.69 | x |
| 1998-03-31 | $4.17 | $5.69 | x |
| 1999-03-31 | $4.99 | $5.69 | x |
| 2000-03-31 | $5.52 | $5.69 | x |
| 2001-03-31 | $6.26 | $5.69 | x |
| 2002-03-31 | $5.71 | $5.69 | x |
| 2003-03-31 | $6.17 | $5.69 | x |
| 2004-03-31 | $7.45 | $5.69 | x |
| 2005-03-31 | $7.63 | $5.69 | x |
| 2006-03-31 | $9.57 | $5.69 | x |
| 2007-03-31 | $13.88 | $5.69 | x |
| 2008-03-31 | $10.90 | $5.69 | x |
| 2009-03-31 | $5.08 | $5.69 | x |
| 2010-03-31 | $4.89 | $5.69 | x |
| 2011-03-31 | $5.59 | $5.69 | x |
| 2012-03-31 | $5.72 | $5.69 | x |
| 2013-03-31 | $6.31 | $5.69 | x |
| 2014-03-31 | $6.72 | $5.69 | x |
| 2015-03-31 | $8.05 | $5.69 | x |
| 2016-03-31 | $8.58 | $5.69 | x |
| 2017-03-31 | $8.45 | $5.69 | x |
| 2018-03-31 | $9.11 | $5.69 | x |
| 2019-03-31 | $8.73 | $5.69 | x |
| 2020-03-31 | $7.53 | $5.69 | x |
| 2021-03-31 | $6.39 | $5.69 | x |
| 2022-03-31 | $7.22 | $5.69 | x |
| 2023-03-31 | $5.95 | $5.69 | x |
| 2024-03-31 | $5.72 | $5.69 | x |
| 2025-03-31 | $5.92 | $5.69 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently British Land Company Plc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.92%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 74.45%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 1.55x
- Recent ROE (5.92%) is above the historical average (1.67%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1986 | 5.97% | 15.68% | 0.18x | 2.17x | $-11.26 Million |
| 1987 | 4.88% | 17.90% | 0.14x | 1.91x | $-25.25 Million |
| 1988 | 4.76% | 25.00% | 0.12x | 1.53x | $-41.44 Million |
| 1989 | 4.57% | 33.48% | 0.08x | 1.64x | $-56.07 Million |
| 1990 | 3.29% | 26.66% | 0.07x | 1.70x | $-64.57 Million |
| 1991 | 2.90% | 16.08% | 0.08x | 2.17x | $-58.86 Million |
| 1992 | 3.82% | 14.85% | 0.09x | 2.82x | $-42.57 Million |
| 1993 | 2.76% | 12.84% | 0.09x | 2.42x | $-56.14 Million |
| 1994 | 3.19% | 20.75% | 0.08x | 1.97x | $-89.02 Million |
| 1995 | 2.18% | 15.10% | 0.07x | 2.05x | $-123.44 Million |
| 1996 | 2.73% | 18.70% | 0.06x | 2.37x | $-135.87 Million |
| 1997 | 3.24% | 23.07% | 0.07x | 2.05x | $-157.92 Million |
| 1998 | 3.66% | 30.37% | 0.06x | 1.90x | $-185.91 Million |
| 1999 | 1.67% | 13.95% | 0.06x | 2.02x | $-259.58 Million |
| 2000 | 3.73% | 26.14% | 0.06x | 2.24x | $-216.26 Million |
| 2001 | 1.56% | 14.85% | 0.05x | 2.10x | $-330.25 Million |
| 2002 | 3.88% | 36.94% | 0.05x | 2.12x | $-251.39 Million |
| 2003 | 3.41% | 31.29% | 0.05x | 2.19x | $-271.73 Million |
| 2004 | 3.67% | 35.24% | 0.05x | 2.18x | $-295.44 Million |
| 2005 | 13.67% | 126.50% | 0.04x | 2.57x | $175.70 Million |
| 2006 | 19.68% | 171.59% | 0.05x | 2.25x | $582.40 Million |
| 2007 | 28.04% | 377.97% | 0.04x | 1.87x | $1.58 Billion |
| 2008 | -23.02% | -242.33% | 0.05x | 1.86x | $-2.24 Billion |
| 2009 | -120.94% | -700.54% | 0.07x | 2.36x | $-4.20 Billion |
| 2010 | 27.09% | 289.34% | 0.06x | 1.52x | $719.20 Million |
| 2011 | 17.04% | 281.88% | 0.04x | 1.47x | $347.00 Million |
| 2012 | 9.40% | 144.58% | 0.04x | 1.60x | $-30.40 Million |
| 2013 | 4.99% | 86.32% | 0.04x | 1.45x | $-284.70 Million |
| 2014 | 16.39% | 288.02% | 0.04x | 1.60x | $431.40 Million |
| 2015 | 20.77% | 363.83% | 0.04x | 1.58x | $886.80 Million |
| 2016 | 14.40% | 227.97% | 0.04x | 1.49x | $410.80 Million |
| 2017 | 2.09% | 32.77% | 0.04x | 1.46x | $-729.10 Million |
| 2018 | 5.33% | 77.15% | 0.05x | 1.42x | $-432.20 Million |
| 2019 | -3.43% | -32.19% | 0.07x | 1.45x | $-1.14 Billion |
| 2020 | -14.60% | -167.54% | 0.05x | 1.60x | $-1.73 Billion |
| 2021 | -17.40% | -220.30% | 0.05x | 1.50x | $-1.62 Billion |
| 2022 | 14.26% | 233.66% | 0.04x | 1.47x | $286.20 Million |
| 2023 | -18.83% | -248.33% | 0.05x | 1.50x | $-1.59 Billion |
| 2024 | -0.02% | -0.15% | 0.08x | 1.50x | $-530.90 Million |
| 2025 | 5.92% | 74.45% | 0.05x | 1.55x | $-233.00 Million |
Industry Comparison
This section compares British Land Company Plc's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $1,134,075,287
- Average return on equity (ROE) among peers: 3.68%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| British Land Company Plc (BRLAF) | $5.82 Billion | 5.97% | 0.55x | $5.24 Billion |
| American Assets Trust Inc (AAT) | $189.17 Million | -3.71% | 4.13x | $997.50 Million |
| Armada Hflr Pr (AHH) | $-37.40 Million | 0.00% | 0.00x | $449.55 Million |
| Armada Hoffler Properties, Inc. (AHRT-PA) | $805.18 Million | 1.03% | 2.18x | $1.76 Billion |
| Precinct Properties New Zealand Limited (AOTUF) | $390.30 Million | 1.91% | 0.25x | $1.05 Billion |
| Artis REIT (ARESF) | $4.10 Million | 0.00% | 1.29x | $228.58 Million |
| Ascott Residence Trust (ATTRF) | $3.13 Billion | 4.71% | 0.70x | $1.70 Billion |
| Broadstone Net Lease Inc (BNL) | $1.28 Billion | 4.27% | 1.01x | $3.74 Billion |
| Icade SA (CDMGF) | $1.16 Billion | 6.10% | 1.97x | $700.47 Million |
| Charter Hall Long WALE REIT (CHLWF) | $3.28 Billion | 18.86% | 0.43x | $1.19 Billion |