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Bellway (BWY) AI Stock Analysis
Bellway
(LSE:BWY)
The score is driven primarily by solid financial strength (notably zero debt and improved 2026 cash generation). This is tempered by a weak technical trend (below key moving averages with negative MACD) and a cautious FY '27 outlook from the earnings call, where management expects lower volumes and margin pressure. Valuation and dividend yield are supportive but not strong enough to offset near-term cyclical and margin risks.
Bellway (BWY) vs. iShares MSCI United Kingdom ETF (EWC)
- Market Cap
- GBP 2.43B
- Dividend Yield
- 3.28%
- Average Volume (3M)
- 514.83K
- Price to Earnings (P/E)
- 13.1
- Beta (1Y)
- 1.54
- Revenue Growth
- 13.63%
- EPS Growth
- 25.11%
- Country
- UK
- Employees
- 2,790
- Sector
- Consumer Cyclical
- Sector Strength
- 61
- Industry
- Residential Construction
Bellway Business Overview & Revenue Model
Company Description
Bellway p.l.c., through its various subsidiaries, operates as a residential property developer throughout the United Kingdom. The company constructs and markets a diverse range of homes, from one-bedroom flats to substantial six-bedroom family reside...
How the Company Makes Money
Bellway primarily makes money by developing and selling newly built residential properties in the UK. Its main revenue stream is the sale of completed homes to private customers, where revenue is typically recognized on legal completion (handover) of...
Bellway Earnings Call Summary
The call was broadly constructive, with strong FY '26 volume, profit and cash-generation performance, a robust balance sheet, increased shareholder returns, ongoing land investment and multiple operational efficiency initiatives. However, management expects lower FY '27 volumes and margins amid higher mortgage rates, affordability pressure, build cost inflation, planning delays and significant build-safety expenditure. The longer-term outlook remained positive, supported by higher-margin land, potential first-time buyer policy support and a pathway toward 10,000 homes and a 15% return on equity.
Q4-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For FY ’27, Bellway is targeting volumes of between 9,000 and 9,400 homes, with bulk completions expected to increase to over 10% of output, social housing representing around 20% of total volume, an overall average selling price of around GBP 325,000, lower margins, build safety expenditure of at least GBP 100 million, land spend of around GBP 500 million, and cash dividends and share buybacks of around GBP 225 million; administrative expenses will increase but be materially lower than in FY ’26 and primarily reflect annual pay awards, while average outlet numbers will be around 230, strategic land is expected to generate around 15% of completions this year and next year and likely grow to around 20% in FY ’29, and the Your First Home scheme has the potential to boost volumes by around 10%, supporting a path back to at least 10,000 homes a year and an underlying operating margin and return on equity of 15%.
Bellway Financial Statement Overview
Summary
Overall financials are supported by a very strong balance sheet (debt reduced to zero in 2026 and substantial equity), alongside a sharp rebound in operating and free cash flow in 2026. Offsetting this, profitability remains well below prior-cycle peaks and cash flow has been historically volatile, reflecting cyclicality and working-capital swings.
Income Statement
66PositiveBalance Sheet
82Very PositiveCash Flow
74Positive| Breakdown | TTM | Jul 2026 | Jul 2025 | Jul 2024 | Jul 2023 | Jul 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.16B | 3.16B | 2.78B | 2.38B | 3.41B | 3.54B |
| Gross Profit | 497.80M | 497.80M | 456.80M | 367.00M | 687.30M | 787.00M |
| EBITDA | 327.80M | 325.00M | 251.40M | 225.10M | 510.20M | 314.70M |
| Net Income | 193.40M | 193.40M | 157.50M | 130.50M | 365.00M | 242.60M |
Balance Sheet | ||||||
| Total Assets | 5.09B | 5.09B | 5.19B | 5.00B | 5.11B | 4.99B |
| Cash, Cash Equivalents and Short-Term Investments | 287.70M | 287.70M | 171.80M | 119.50M | 362.00M | 375.30M |
| Total Debt | 0 | 0 | 487.70M | 130.00M | 513.80M | 540.60M |
| Total Liabilities | 1.57B | 1.57B | 1.64B | 1.53B | 1.65B | 1.62B |
| Stockholders Equity | 3.52B | 3.52B | 3.56B | 3.47B | 3.46B | 3.37B |
Cash Flow | ||||||
| Free Cash Flow | 334.00M | 334.00M | 134.10M | -66.90M | 243.40M | 60.70M |
| Operating Cash Flow | 340.30M | 340.30M | 146.00M | -65.50M | 246.10M | 61.20M |
| Investing Cash Flow | 3.90M | 3.90M | -19.70M | -8.00M | -18.20M | 19.10M |
| Financing Cash Flow | -228.30M | -228.30M | -74.00M | -169.00M | -241.20M | -165.30M |
Bellway Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:BWY, the sentiment is Positive. The current price of 2192.00 is above the 20-day moving average (MA) of 2093.30, above the 50-day MA of 2096.42, and above the 200-day MA of 2118.31, indicating a bullish trend. The MACD of 32.04 indicates Negative momentum. The RSI at 56.52 is Neutral, neither overbought nor oversold. The STOCH value of 48.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:BWY.
Bellway Peers Comparison
Overall Rating
GB:TW72Outperform
GB:BKG68Neutral
GB:BTRW68Neutral- GB:BWY64Neutral
GB:PSN63Neutral
GB:VTY49Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| GB:TW | 72Outperform | GBP 2.77B | 11.41 | 5.99% | 5.18% | 9.47% | 193.33% |
| GB:BKG | 68Neutral | GBP 3.13B | 10.42 | 8.79% | ― | -4.15% | -10.86% |
| GB:BTRW | 68Neutral | GBP 4.40B | 18.78 | 3.13% | 1.86% | 8.55% | 26.47% |
| GB:BWY | 64Neutral | GBP 2.43B | 13.13 | 5.49% | 3.28% | 13.63% | 25.11% |
| GB:PSN | 63Neutral | GBP 4.00B | 13.11 | 8.45% | 4.82% | 17.38% | 18.92% |
| Sector * | 61Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
| GB:VTY | 49Neutral | GBP 827.68M | -1.65 | -16.57% | ― | -7.99% | -5071.71% |
* Consumer Cyclical Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| GB:BWY | Bellway plc | 2192.00 | -351.39 | -13.82% | |
| GB:BTRW | Barratt Redrow | 323.40 | -37.28 | -10.34% | |
| GB:BKG | The Berkeley Group Holdings | 3480.00 | -512.00 | -12.83% | |
| GB:VTY | Vistry Group Plc | 260.80 | -371.60 | -58.76% | |
| GB:PSN | Persimmon plc | 1245.50 | 94.97 | 8.25% | |
| GB:TW | Taylor Wimpey | 80.12 | -19.85 | -19.86% |
Bellway Corporate Events
Bellway grants long-term incentive share awards to senior executives
PositiveBellway has granted new nil-cost share options to senior executives under its Long Term Incentive Plan, issuing maximum awards over ordinary shares to chief executive Jason Honeyman, chief financial officer Shane Doherty and chief commercial officer...
Bellway Reduces Share Capital Through Ongoing Buyback Programme
PositiveBellway has continued to execute its previously announced share buyback programme, purchasing 129,967 ordinary shares between 12 and 16 October 2026 via Citigroup Global Markets on the London Stock Exchange. The prices paid ranged from 1,937 pence to...
Bellway Lifts FY26 Dividend and Sets Final Payout Timetable
PositiveBellway has recommended a final dividend of 52.0p per share for FY26, up from 49.0p a year earlier, taking the total dividend for the year to 75.0p per share, a 7.1% increase. The payout, which remains subject to shareholder approval at the 26 Novemb...
Bellway boosts profits and cash as it braces for margin squeeze
PositiveBellway reported a robust full-year performance to 31 July 2026, increasing housing completions by 10.8% to 9,695 homes and lifting revenue 13.6% to £3.16 billion. Underlying profit before tax rose 5.7% to £305.7 million, while adjusted ope...
Bellway Advances Share Buyback, Cuts Shares in Issue
PositiveBellway p.l.c. has continued to execute its previously announced share buyback programme, purchasing 145,000 ordinary shares between 5 and 9 October 2026 on the London Stock Exchange via Citigroup Global Markets Limited. The trades were executed at p...
Bellway Advances Share Buyback, Cancels Further Stock to Cut Share Count
PositiveBellway p.l.c. has continued executing its previously announced share buyback programme, repurchasing 85,000 ordinary shares between 30 September and 2 October 2026 via the London Stock Exchange at a volume-weighted average price of 2,166.07 pence. T...
Bellway Updates Share Capital and Voting Rights Structure
NeutralBellway p.l.c. reported that, as at 30 September 2026, its issued share capital comprised 111,879,997 ordinary shares of 12.5 pence each, with no shares held in treasury. An employee benefit trust controls 463,997 shares but has waived voting and div...
Bellway Cancels Further Shares as Buyback Programme Reduces Share Count
PositiveBellway has continued to execute its previously announced share buyback programme, purchasing 145,000 ordinary shares between 21 and 25 September 2026 on the London Stock Exchange through Citigroup Global Markets at a volume-weighted average price of...
Bellway Reduces Share Count as Buyback Programme Advances
PositiveBellway p.l.c. has continued to execute its previously announced share buyback programme, repurchasing a total of 142,217 ordinary shares between 14 and 18 September 2026 on the London Stock Exchange at a volume-weighted average price of about 2,018...
Bellway Cancels Further Shares as Buyback Shrinks Share Capital
PositiveBellway has continued executing its previously announced share buyback programme, repurchasing 151,598 ordinary shares between 7 and 11 September 2026 on the London Stock Exchange at a volume-weighted average price of about 2,033.65 pence. The shares...
Bellway Advances Share Buyback, Cancels 113,493 Shares
PositiveBellway has begun executing the share buyback programme announced on 1 September 2026, purchasing 113,493 ordinary shares through Citigroup Global Markets over the period to 4 September on the London Stock Exchange. The shares, bought at a volume-wei...
Bellway Cancels 113,493 Shares as Buyback Programme Takes Effect
PositiveBellway has begun executing its previously announced share buyback programme, purchasing 113,493 ordinary shares between 1 and 4 September 2026 on the London Stock Exchange via Citigroup Global Markets. The bought-back shares will be cancelled, reduc...
Bellway updates market on voting rights and share capital
PositiveBellway p.l.c. reported that as of 31 August 2026 its issued share capital comprised 112,460,585 ordinary shares of 12.5 pence each, with no shares held in Treasury, and that the Bellway Employee Benefit Trust holds 463,997 shares on which it has wai...
Bellway Completes Second Tranche of Share Buyback Programme
PositiveBellway has completed the second tranche of its previously announced share buyback programme, repurchasing 152,179 ordinary shares between 24 and 28 August 2026 via the London Stock Exchange at a volume-weighted average price of about 2,163 pence. Th...
Bellway completes £150m buyback tranche and launches new £50m share repurchase
PositiveBellway has completed the second £75 million tranche of its £150 million initial share buyback programme, repurchasing and cancelling 3,894,531 shares via a non-discretionary arrangement with Deutsche Bank. The move reduces the company̵...
Bellway Cuts Share Count Further as Buyback Programme Progresses
PositiveBellway p.l.c. has continued to execute its share buyback programme, repurchasing 226,000 ordinary shares between 17 and 21 August 2026 via Deutsche Bank on the London Stock Exchange, at a volume-weighted average price of about 2,127 pence. The newly...
Bellway Advances Share Buyback, Cuts Share Count to 112.8 Million
PositiveBellway has continued executing its previously announced share buyback programme, purchasing 111,849 ordinary shares on the London Stock Exchange between 10 and 14 August 2026 through Deutsche Bank AG. The shares, bought at a volume-weighted average...
Bellway boosts completions and cash as it leans on capital discipline and buybacks
PositiveBellway reported a robust year to 31 July 2026, lifting housing completions by 10.8% to 9,695 homes and housing revenue by over 13% to £3.14bn, with underlying operating profit expected around £320m despite margin pressure from a higher sha...
Bellway Cancels Further Shares as Buyback Programme Advances
PositiveBellway p.l.c. has continued to execute its share buyback programme, repurchasing 28,680 ordinary shares between 4 and 7 August 2026 on the London Stock Exchange via Deutsche Bank AG, at a volume-weighted average price of about 2,081 pence per share....
Bellway updates market on share capital and voting rights
NeutralBellway p.l.c. has reported that as of 31 July 2026, its issued share capital comprises 112,974,385 ordinary shares of 12.5 pence each, with no shares held in Treasury. The Bellway Employee Benefit Trust holds 463,997 shares and has waived voting and...
Bellway Advances Share Buyback, Shrinks Share Count Further
PositiveBellway p.l.c. is a major U.K. residential housebuilder listed in London, developing and selling homes across the country to a wide spectrum of buyers. Its role as a large, cyclical player in the housing market means that decisions on capital structu...
Bellway Adds Employee Scheme Shares to London Listing
NeutralBellway has admitted 11,138 new ordinary shares of 12.5p each to trading on the Main Market of the London Stock Exchange, following their allotment under the company’s 2023 Savings Related Share Option Scheme. The shares, issued on various date...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 14, 2026