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First Property
(LSE:FPO)
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Rating:61Neutral
Price Target:
14.00 p
▲(3.70% Upside)
Action:Reiterated
Date:08/26/26
The score is driven primarily by mixed financial performance: a stronger, de-risked balance sheet and improved profitability are offset by weak cash conversion and inconsistent free cash flow. Technicals are mildly supportive but look overbought and still below the 200-day trend, while valuation is helped by a low P/E. Corporate updates are positive (profit improvement, debt reduction, dividend reinstatement), providing incremental support.
Positive Factors
Material deleveraging strengthens balance-sheet resilience
Sustained debt reduction lowers refinancing and interest-risk exposure, giving First Property greater flexibility to manage vacancies, fund asset improvements and pursue selective acquisitions through the property cycle.
Negative Factors
Weak operating cash conversion
Reported profits are not translating reliably into cash, which can constrain reinvestment, debt servicing and dividends. Persistent working-capital or timing effects would reduce the quality and durability of earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Material deleveraging strengthens balance-sheet resilience
Sustained debt reduction lowers refinancing and interest-risk exposure, giving First Property greater flexibility to manage vacancies, fund asset improvements and pursue selective acquisitions through the property cycle.
Read all positive factors
First Property (FPO) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£19.96M
Dividend Yield1.85%
Average Volume (3M)62.85K
Price to Earnings (P/E)7.4
Beta (1Y)0.60
Revenue Growth15.45%
EPS Growth8.98%
CountryUK
Employees41
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.02
Shares Outstanding147,843,110
10 Day Avg. Volume3,529
30 Day Avg. Volume62,848
Financial Highlights & Ratios
PEG Ratio0.66
Price to Book (P/B)0.41
Price to Sales (P/S)2.25
P/FCF Ratio104.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
First Property Business Overview & Revenue Model
Company Description
First Property Group plc operates as a real estate investment enterprise, delivering a broad spectrum of services to the property sector. Based in London, UK, its activities span the United Kingdom and wider European regions. The company specializ...
How the Company Makes Money
First Property primarily makes money from (1) rental income generated by leasing its commercial properties to tenants under lease agreements and (2) capital appreciation and realized gains from the sale of properties when market conditions or asse...
First Property Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
72
Positive
Cash Flow
38
Negative
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.72M | 7.55M | 7.85M | 7.25M | 8.64M |
| Gross Profit | 4.99M | 4.82M | 4.97M | 4.99M | 5.72M |
| EBITDA | 4.31M | 4.16M | -3.56M | 3.12M | 7.50M |
| Net Income | 2.68M | 2.14M | -4.58M | 1.92M | 6.78M |
Balance Sheet | |||||
| Total Assets | 69.90M | 78.71M | 75.81M | 83.48M | 76.98M |
| Cash, Cash Equivalents and Short-Term Investments | 6.95M | 4.82M | 4.63M | 7.65M | 6.42M |
| Total Debt | 9.14M | 9.45M | 10.59M | 13.37M | 15.03M |
| Total Liabilities | 19.18M | 31.39M | 34.88M | 38.01M | 33.99M |
| Stockholders Equity | 48.22M | 45.09M | 38.98M | 43.44M | 42.77M |
Cash Flow | |||||
| Free Cash Flow | 187.00K | -582.00K | -1.30M | 2.45M | -3.12M |
| Operating Cash Flow | 199.00K | 856.00K | 398.00K | 3.48M | -1.44M |
| Investing Cash Flow | 3.75M | -77.00K | -840.00K | 2.76M | -4.28M |
| Financing Cash Flow | -1.86M | -575.00K | -2.66M | -5.09M | -4.08M |
First Property Technical Analysis
Positive
13.50
Price Trends
12.41
Positive
13.06
Positive
14.69
Negative
Market Momentum
0.33
Positive
75.39
Negative
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:FPO, the sentiment is Positive. The current price of 13.5 is above the 20-day moving average (MA) of 13.16, above the 50-day MA of 12.41, and below the 200-day MA of 14.69, indicating a neutral trend. The MACD of 0.33 indicates Positive momentum. The RSI at 75.39 is Negative, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:FPO.
First Property Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | £27.15M | 20.99 | 4.34% | 1.09% | 3.71% | 29.79% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | £50.18M | 12.09 | 3.61% | 7.59% | -4.65% | -36.18% | |
61 Neutral | £19.96M | 7.42 | 5.63% | 1.85% | 15.45% | 8.98% | |
58 Neutral | £42.52M | -25.39 | -1.75% | ― | ― | ― | |
52 Neutral | £30.58M | -0.49 | -27.53% | 5.93% | ― | ― | |
47 Neutral | £135.99M | -26.22 | -2.38% | 0.12% | ― | ― |
* Real Estate Sector Average
GB:FPO
First Property
13.50
-1.47
-9.80%
GB:CDFF
The Cardiff Property
2,750.00
178.64
6.95%
GB:DCI
Dolphin Capital Investors
4.80
0.00
0.00%
GB:PNS
Panther Securities
290.00
20.76
7.71%
GB:PSDL
Phoenix Spree Deutschland Ltd
157.50
3.29
2.13%
GB:GR1T
Grit Real Estate Income Group Limited
6.15
-0.35
-5.38%
First Property Corporate Events
Financial DisclosuresShareholder Meetings
First Property Group sets hybrid AGM and publishes 2026 annual report
Positive
Aug 17, 2026
First Property Group has called its Annual General Meeting for 24 September 2026 at its London registered office, with proceedings also accessible via the Investor Meet Company online platform to broaden shareholder participation. Shareholders are...
Business Operations and StrategyDividendsFinancial Disclosures
First Property boosts profit, slashes debt and restores dividend
Positive
Jun 25, 2026
First Property Group reported unaudited preliminary results showing a 12.2% rise in statutory profit before tax to £3.40 million for the year to 31 March 2026, driven by higher rental income at its Warsaw Blue Tower asset and cost savings. Th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.