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Henry Boot
(LSE:BOOT)
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Rating:61Neutral
Price Target:
162.00 p
▲(5.19% Upside)
Action:Reiterated
Date:07/23/26
The score is primarily held back by weakened financial quality in 2025—especially negative operating/free cash flow and a sharp revenue decline—despite a very conservative balance sheet. Technicals also point to a downtrend with weak momentum. Offsetting these risks, valuation is attractive with a low P/E and strong dividend yield.
Positive Factors
Conservative balance sheet
Extremely low leverage and substantial equity provide durable financial resilience for a cyclical property business. This capital conservatism lowers refinancing risk, reduces interest burden, and preserves capacity to fund development or absorb planning/timing delays without forcing asset sales.
Negative Factors
Sharp revenue contraction
A steep revenue decline materially reduces cash inflows from development and disposals and signals weaker market absorption or slower project completions. Recovery typically depends on multi-quarter planning and sales cycles, increasing execution risk and timing uncertainty for earnings recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low leverage and substantial equity provide durable financial resilience for a cyclical property business. This capital conservatism lowers refinancing risk, reduces interest burden, and preserves capacity to fund development or absorb planning/timing delays without forcing asset sales.
Read all positive factors
Henry Boot (BOOT) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£204.12M
Dividend Yield5.17%
Average Volume (3M)120.33K
Price to Earnings (P/E)9.6
Beta (1Y)0.35
Revenue Growth-23.40%
EPS Growth-7.92%
CountryUK
Employees490
SectorReal Estate
Sector Strength53
IndustryReal Estate - Diversified
Share Statistics
EPS (TTM)0.16
Shares Outstanding134,556,660
10 Day Avg. Volume86,200
30 Day Avg. Volume120,335
Financial Highlights & Ratios
PEG Ratio-2.39
Price to Book (P/B)0.71
Price to Sales (P/S)1.20
P/FCF Ratio-10.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£194.50Price Target Upside26.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.07
Revenue Forecast (FY)£260.56M
Henry Boot Business Overview & Revenue Model
Company Description
Henry Boot PLC is a diversified United Kingdom-based enterprise involved in real estate investment and development, land acquisition and preparation, and various construction projects. Its operations are structured across three primary divisions: ...
How the Company Makes Money
Henry Boot makes money primarily from property-related activities and construction services. Key revenue and profit drivers typically include: (1) Property development: generating income and profit from developing residential and commercial/indust...
Henry Boot Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
86
Very Positive
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 251.55M | 328.38M | 359.40M | 341.42M | 230.60M |
| Gross Profit | 65.81M | 74.54M | 76.77M | 81.59M | 55.55M |
| EBITDA | 39.76M | 44.78M | 48.88M | 43.87M | 31.80M |
| Net Income | 21.52M | 23.33M | 26.30M | 33.32M | 28.16M |
Balance Sheet | |||||
| Total Assets | 654.37M | 623.64M | 594.40M | 578.30M | 508.89M |
| Cash, Cash Equivalents and Short-Term Investments | 8.40M | 16.76M | 13.03M | 17.40M | 11.12M |
| Total Debt | 116.42M | 79.45M | 90.79M | 66.03M | 51.66M |
| Total Liabilities | 234.23M | 198.49M | 184.28M | 184.02M | 153.61M |
| Stockholders Equity | 422.67M | 422.25M | 405.40M | 388.32M | 349.84M |
Cash Flow | |||||
| Free Cash Flow | -30.15M | 24.08M | -15.49M | -15.30M | -43.70M |
| Operating Cash Flow | -28.77M | 25.57M | -3.40M | -8.87M | -36.68M |
| Investing Cash Flow | 5.38M | 2.00M | -9.90M | 24.55M | -24.97M |
| Financing Cash Flow | 15.02M | -23.84M | 8.94M | 3.03M | 30.64M |
Henry Boot Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | £204.12M | 9.64 | 5.16% | 5.17% | -23.40% | -7.92% | |
55 Neutral | £424.09M | 44.66 | 1.36% | 1.40% | -29.69% | -83.49% | |
55 Neutral | £54.93M | -10.47 | -4.75% | 4.15% | 4.77% | -1540.79% | |
52 Neutral | £211.44M | -4.17 | -6.67% | 7.66% | -8.03% | 46.33% | |
52 Neutral | £28.60M | -6.92 | -11.17% | 8.33% | -41.22% | ― | |
51 Neutral | £229.45M | 42.98 | 1.34% | 6.51% | 4.03% | -79.67% |
* Real Estate Sector Average
GB:BOOT
Henry Boot
154.00
-66.45
-30.14%
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GB:HLCL
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GB:PCA
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175.00
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GB:TOWN
Town Centre Securities
130.00
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0.64%
Henry Boot Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Henry Boot Updates Share Capital and Voting Rights After New Share Issue
Neutral
Aug 3, 2026
Henry Boot PLC has issued and allotted 40,239 new ordinary shares under its 2020 Sharesave Plan and 2020 Company Share Option Plan, with the shares admitted to trading on the London Stock Exchange Main Market between 1 July and 31 July 2026. Follo...
Regulatory Filings and Compliance
Henry Boot discloses director’s spouse buying 10,000 shares
Neutral
Jul 24, 2026
Henry Boot PLC has disclosed a transaction involving a person closely associated with one of its board members, as required under the EU Market Abuse Regulation. The filing relates to the purchase of 10,000 ordinary shares in the company by Emma S...
Business Operations and StrategyFinancial Disclosures
Henry Boot Warns 2026 Profits Will Miss Expectations as Market Headwinds Bite
Negative
Jul 22, 2026
Henry Boot PLC reported that trading in the first half of 2026 has been hit by elevated macroeconomic and political uncertainty, which has depressed transaction volumes across its land, property and homebuilding markets. Hallam Land’s plot s...
Business Operations and StrategyPrivate Placements and Financing
Henry Boot secures funding for first phase of £1bn Golden Valley cyber hub
Positive
Jul 13, 2026
Henry Boot’s development arm HBD has secured forward funding for the first £95m phase of the £1bn Golden Valley mixed‑use innovation and technology scheme in Cheltenham, a project aligned with the UK’s National Cyber St...
Private Placements and FinancingRegulatory Filings and Compliance
Henry Boot Updates Share Capital and Voting Rights After Options Issuance
Neutral
Jul 1, 2026
Henry Boot PLC has issued and allotted 44,830 new ordinary shares under its 2020 Sharesave Plan and 2020 Company Share Option Plan, with the shares admitted to trading on the London Stock Exchange Main Market between 1 June and 30 June 2026. The m...
Business Operations and Strategy
Henry Boot’s Island Scheme Lures Arcadis in Manchester Letting
Positive
Jun 15, 2026
Henry Boot’s development arm HBD has secured global consultancy Arcadis as a new occupier at Island, its £66m joint venture office scheme with Greater Manchester Pension Fund in Manchester’s central business district. Arcadis has ...
Business Operations and StrategyExecutive/Board Changes
Henry Boot names new CEO as it advances major UK development pipeline
Positive
Jun 12, 2026
Henry Boot, one of the UK’s leading land, property development and housebuilding businesses, has confirmed that Edward Hutchinson will take over as chief executive on 13 July 2026, succeeding Tim Roberts, who will step down from the board on...
Business Operations and StrategyExecutive/Board Changes
Henry Boot strengthens Stonebridge Homes with new managing director
Positive
Jun 12, 2026
Henry Boot, the UK land promotion, property development and home building group, has appointed Warren Thompson as Managing Director of its Stonebridge Homes division. Thompson, who will also join the group’s Executive and Investment Committe...
Business Operations and StrategyFinancial Disclosures
Henry Boot’s Hallam Land Sells 416-Home Bedfordshire Site to Persimmon
Positive
Jun 8, 2026
Henry Boot’s land promotion arm, Hallam Land, has completed the sale of a 105‑acre site in Biggleswade, Bedfordshire, with consent for 416 homes, to national housebuilder Persimmon. The scheme, which includes up to 125 affordable units...
Executive/Board Changes
Henry Boot Senior Independent Director Takes Chair Designate Role at Gooch & Housego
Positive
Jun 3, 2026
Henry Boot PLC has announced that its Senior Independent Director, Serena Lang, has been appointed as an Independent Non-Executive Director and Chair Designate of AIM-listed Gooch Housego PLC, effective immediately. She will assume the role of No...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresShareholder Meetings
Henry Boot Wins Strong Shareholder Backing at 2026 AGM
Positive
May 21, 2026
Henry Boot PLC reported that all resolutions put to shareholders at its 21 May 2026 annual general meeting were approved by poll, confirming support for the company’s financial statements, dividend proposal and directors’ remuneration....
Business Operations and StrategyExecutive/Board Changes
Henry Boot installs Hamer Boot as permanent head of HBD
Positive
May 21, 2026
Henry Boot has appointed Hamer Boot as the permanent managing director of HBD, its development arm, consolidating leadership changes introduced in late 2025 to support future growth. Boot, a former JP Morgan Chase banker with more than two decades...
Business Operations and StrategyFinancial Disclosures
Henry Boot Maintains 2026 Profit Guidance as Planning Wins Bolster Pipeline
Positive
May 21, 2026
Henry Boot reports resilient demand across its residential land, industrial and logistics developments, and premium homes, with Hallam Land progressing over 2,600 plots, HBD letting or agreeing terms on more than 231,000 sq ft of industrial space,...
Business Operations and StrategyExecutive/Board Changes
Henry Boot names internal candidate Ed Hutchinson as new CEO
Positive
May 8, 2026
Henry Boot PLC, a major UK land, property development and home building group with operations spanning residential, industrial, logistics and urban projects, continues to leverage its Hallam Land, HBD, Stonebridge Homes and Banner Plant divisions ...
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.