BWP Trust (BWP) AI Stock Analysis

• Market Cap: AU$2.88B
• Dividend Yield: 4.87%
• Average Volume (3M): 1.03M
• Price to Earnings (P/E): 10.7
• Beta (1Y): 0.38
• Revenue Growth: 16.53%
• EPS Growth: 36.39%
• Country: AU
• Employees: N/A
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): 0.09
• Shares Outstanding: 724,378,600
• 10 Day Avg. Volume: 687,773
• 30 Day Avg. Volume: 1,026,791
• PEG Ratio: 0.26
• Price to Book (P/B): 0.88
• Price to Sales (P/S): 12.39
• P/FCF Ratio: 20.97
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$4.00
• Price Target Upside: 1.52% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: AU$4.00 ▲(1.52% Upside)

BWP Trust's strong financial performance and attractive valuation are key strengths, offset by bearish technical indicators. The company's solid revenue growth and profitability, combined with a low P/E ratio and high dividend yield, make it appealing. However, the bearish technical signals suggest caution in the short term.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong demand for BWP's properties and effective lease management, supporting long-term income stability.

Lease Agreements

Long-term leases with major tenants like Bunnings Warehouse ensure stable cash flows, enhancing financial predictability and reducing vacancy risk.

Profit Margins

High gross profit margins reflect effective cost control and operational efficiency, contributing to sustainable profitability.

Negative Factors

Debt Levels

Rising debt levels may increase financial risk and interest obligations, potentially impacting future cash flow and investment capacity.

Cash Flow Conversion

Decreasing cash flow conversion efficiency suggests potential challenges in translating earnings into cash, affecting liquidity and investment ability.

Free Cash Flow

Negative free cash flow growth may limit BWP's ability to fund new acquisitions or developments, impacting long-term growth prospects.

BWP Trust Business Overview & Revenue Model

Company Description

BWP Trust (BWP) is a real estate investment trust (REIT) based in Australia, focusing on the acquisition and management of high-quality commercial properties, primarily in the retail and industrial sectors. The trust is known for its strategic investments in properties that are leased to well-established tenants, ensuring a steady income stream and capital appreciation. BWP's core portfolio includes retail warehouses and distribution centers, making it a vital player in the Australian property market.

How the Company Makes Money

BWP Trust generates revenue primarily through rental income from its portfolio of properties. The trust leases its properties to various tenants under long-term agreements, which provides a consistent and predictable cash flow. Additionally, BWP benefits from property appreciation and may also realize capital gains when properties are sold. The company strategically focuses on high-quality, well-located assets with reliable tenants, which reduces vacancy risks and enhances rental income stability. Partnerships with reputable tenants in strong retail and industrial sectors further bolster its revenue streams, along with periodic property transactions that contribute to its overall profitability.

BWP Trust Financial Statement Overview

Summary

BWP Trust demonstrates strong revenue growth and profitability, with efficient cost management and solid operational performance. The balance sheet is stable with manageable leverage, though increasing debt levels warrant attention. Cash flow generation is positive but shows signs of strain, particularly in converting income to cash.

Income Statement

BWP Trust has shown consistent revenue growth with a 5.36% increase in the latest year. The gross profit margin remains strong at 83.13%, indicating efficient cost management. However, the net profit margin is unusually high at 131.02%, likely due to non-operational factors, which could pose a risk if not sustainable. EBIT and EBITDA margins are robust, reflecting strong operational performance.

Balance Sheet

The company maintains a healthy debt-to-equity ratio of 0.28, indicating prudent leverage. Return on equity is moderate at 9.35%, suggesting effective use of equity to generate profits. The equity ratio is strong, highlighting a solid financial structure. However, the increase in total debt over the years could be a concern if not managed carefully.

Cash Flow

Operating cash flow is positive, but the operating cash flow to net income ratio has decreased to 0.48, indicating potential issues in converting income to cash. Free cash flow growth is negative, which could impact future investments. The free cash flow to net income ratio remains stable at 1.0, suggesting that the company is generating sufficient cash relative to its net income.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	202.97M	202.70M	174.46M	158.16M	153.27M	152.24M
Gross Profit	168.51M	168.51M	145.59M	131.11M	129.38M	129.70M
EBITDA	161.47M	300.61M	205.67M	53.41M	128.48M	128.95M
Net Income	265.58M	265.58M	180.22M	36.69M	486.64M	263.17M
Balance Sheet
Total Assets	3.75B	3.75B	3.59B	2.96B	3.02B	2.67B
Cash, Cash Equivalents and Short-Term Investments	26.46M	26.46M	27.30M	16.83M	11.86M	33.07M
Total Debt	808.16M	808.16M	771.60M	466.00M	452.70M	471.10M
Total Liabilities	906.29M	906.29M	878.78M	554.31M	535.58M	558.19M
Stockholders Equity	2.84B	2.84B	2.71B	2.41B	2.49B	2.12B
Cash Flow
Free Cash Flow	119.78M	119.78M	128.76M	119.75M	111.04M	112.35M
Operating Cash Flow	119.78M	119.78M	128.76M	119.75M	111.04M	112.35M
Investing Cash Flow	-25.40M	-25.40M	-23.14M	-10.15M	4.35M	2.54M
Financing Cash Flow	-95.22M	-95.22M	-95.16M	-104.62M	-136.60M	-146.01M

BWP Trust Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.94
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BWP, the sentiment is Positive. The current price of 3.94 is above the 20-day moving average (MA) of 3.85, above the 50-day MA of 3.84, and above the 200-day MA of 3.61, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 68.07 is Neutral, neither overbought nor oversold. The STOCH value of 75.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:BWP.

BWP Trust Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HDN	80 Outperform	AU$2.90B	11.56	8.25%	6.09%	2.70%	205.08%
CIP	70 Outperform	AU$2.09B	15.94	5.38%	4.85%	4.39%	176.52%
RGN	69 Neutral	AU$2.85B	13.40	7.29%	5.61%	0.03%	1135.14%
BWP	68 Neutral	AU$2.88B	10.67	9.58%	4.87%	16.53%	36.39%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
CQR	64 Neutral	AU$2.34B	10.95	8.13%	7.72%	-9.69%	1142.57%
CLW	52 Neutral	AU$2.90B	24.58	3.57%	6.14%	-9.63%	―

BWP Trust Corporate Events

BWP Group Updates Dividend Distribution Process

BWP Group has issued an update regarding its dividend distribution for the fully paid ordinary units stapled securities. The update corrects the default option for the Dividend Reinvestment Plan (DRP) to cash in cases where no election has been received. This announcement, dated December 5, 2025, pertains to the dividend distribution for the six-month period ending December 31, 2025. The correction aims to clarify the company’s dividend distribution process, ensuring stakeholders are informed of the cash default option in the absence of a DRP election.

BWP Trust Announces Increased Distribution and Reinstates Reinvestment Plan

BWP Trust has announced a preliminary distribution estimate of 9.58 cents per stapled security for the six-month period ending 31 December 2025, marking a 4.1% increase from the previous corresponding period. The distribution reinvestment plan has been reinstated, allowing unitholders in Australia and New Zealand to participate without any discount, potentially enhancing shareholder value and reinforcing the company’s commitment to providing stable returns.

BWP Trust Announces New Distribution for Stapled Securities

BWP Trust has announced a new distribution for its fully paid ordinary units stapled securities, amounting to AUD 0.0958 per unit. This distribution, related to the six-month period ending December 31, 2025, will be paid on February 27, 2026, with an ex-date of December 30, 2025, and a record date of December 31, 2025. This announcement reflects BWP Trust’s continued commitment to providing returns to its investors, potentially enhancing its attractiveness to stakeholders and reinforcing its position in the real estate investment market.

BWP Trust Appoints New Director, Timothy James Bult

BWP Trust has announced the appointment of Timothy James Bult as a director, effective December 1, 2025. This appointment is significant for the company as it may influence its strategic direction and governance. Bult holds an indirect interest in 50,000 securities through his spouse, indicating potential alignment with shareholder interests.

BWP Trust Announces Leadership Changes with New Chair and Director

BWP Trust has announced a leadership transition with the retirement of Tony Howarth as Chair, to be succeeded by Fiona Harris, a seasoned director with extensive experience in finance and investment sectors. Additionally, Tim Bult from Wesfarmers will join the Board as a non-executive director, bringing over 25 years of strategic and commercial expertise to support BWP’s strategic framework and governance.

BWP Trust Secures AUD$300 Million in Medium Term Notes

BWP Trust has successfully priced a AUD$300 million five-year Medium Term Note issue with a 4.55% coupon rate, maturing in October 2030. The proceeds will support general funding needs, including asset repurposing and tenant expansion, aligning with BWP’s strategy to diversify funding sources and extend debt duration, potentially strengthening its market position.