Bellway is one of the UK’s largest residential property developers. It typifies the business model employed by UK homebuilders, traditionally operating in the land development, construction, and sales and marketing segments of the residential property development value chain. Bellway has also invested in its own manufacturing facility for timber frames, which it expects to produce 3,000 frames a year by 2030.
Bellway’s sizable land bank—including 47,800 strategic land plots—should allow it to capitalize on the coming housing cycle, especially if the planning system is reformed in the UK.
The prior Goldilocks cycle inflated homebuilder margins and ROICs. Any recovery is likely to be gradual and not as profitable.
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Metric
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BWY
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TW.
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BKG
|
|---|---|---|---|
Price/Earnings (Normalized) | 11.66 | 11.21 | 10.11 |
Price/Book Value | 0.69 | 0.68 | 0.82 |
Price/Sales | 0.87 | 0.74 | 1.29 |
Price/Cash Flow | 14.26 | 11.87 | 8.64 |
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Metric
|
BWY
|
TW.
|
BKG
|
|---|---|---|---|
Quick Ratio | 0.21 | 0.44 | 0.70 |
Current Ratio | 5.26 | 4.99 | 3.58 |
Interest Coverage | 6.77 | 9.60 | 16.15 |
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Metric
|
BWY
|
TW.
|
BKG
|
|---|---|---|---|
Return on Assets (Normalized) | 4.11% | 4.22% | 4.76% |
Return on Equity (Normalized) | 5.95% | 6.16% | 8.71% |
Return on Invested Capital (Normalized) | 6.22% | 6.49% | 7.11% |
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1-Day Chart
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Price
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