First Property (FPO) AI Stock Analysis

• Market Cap: £22.18M
• Dividend Yield: N/A
• Average Volume (3M): 50.60K
• Price to Earnings (P/E): 9.1
• Beta (1Y): 0.04
• Revenue Growth: -3.81%
• EPS Growth: N/A
• Country: UK
• Employees: 51
• Sector: Real Estate
• Sector Strength: 57
• Industry: Real Estate - Services
• EPS (TTM): <0.01
• Shares Outstanding: 147,843,110
• 10 Day Avg. Volume: 68,546
• 30 Day Avg. Volume: 50,600
• PEG Ratio: 0.05
• Price to Book (P/B): 0.38
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 27.73
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 67 Neutral
• Price Target: 16.50p ▲(8.20%Upside)

The stock is moderately attractive due to its technical momentum and reasonable valuation. While financial performance indicates recovery, challenges with revenue growth and cash flow need addressing. Positive corporate actions support confidence, offset by concerns over a subsidiary's administration.

First Property Business Overview & Revenue Model

Company Description

First Property Group (FPO) is a property fund manager and investor, operating primarily in the UK and Central Europe. The company focuses on commercial properties, including office spaces, retail units, and warehouses. First Property Group offers a range of services, such as asset management, property management, and fund management, catering to a variety of clients, including institutional investors and high-net-worth individuals.

How the Company Makes Money

First Property Group makes money through a combination of fund management fees, rental income, and property appreciation. The company earns management fees from its fund management services, which involve overseeing investment funds on behalf of clients. Additionally, First Property Group generates rental income from its portfolio of commercial properties. The company's earnings are further supplemented by capital gains from the appreciation of property values over time. Key partnerships with investors and financial institutions play a crucial role in expanding the company's reach and investment capabilities.

First Property Financial Statement Overview

Summary

First Property shows signs of recovery in profitability and operational efficiency but faces challenges in maintaining consistent revenue growth and generating positive free cash flow. The balance sheet reflects moderate leverage and a strong equity position, offering a degree of financial stability.

Income Statement

The company's revenue has experienced fluctuations, with a notable decline from 2020 to 2025. Gross profit margins have been moderately stable, but net income has been volatile, improving significantly in 2025 after a loss in 2024. EBITDA margins have shown signs of recovery in the recent year, indicating operational efficiency improvements.

Balance Sheet

The balance sheet reveals a moderate debt-to-equity ratio, indicating manageable leverage levels. Equity ratio reflects a solid equity base, but total assets have seen slight declines. The company has maintained a healthy cash position, enhancing its financial stability and flexibility.

Cash Flow

Cash flow analysis shows inconsistent free cash flow generation, with improvements in operating cash flow in 2025. However, negative free cash flow in recent years poses a concern. The operating cash flow to net income ratio indicates some alignment between cash earnings and reported profits.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	7.55M	7.85M	7.25M	8.64M	12.12M
Gross Profit	4.82M	4.97M	4.99M	5.72M	7.99M
EBITDA	4.16M	-3.56M	3.12M	7.50M	-2.99M
Net Income	2.14M	-4.58M	1.92M	6.78M	-7.45M
Balance Sheet
Total Assets	78.71M	75.81M	83.48M	76.98M	81.28M
Cash, Cash Equivalents and Short-Term Investments	4.82M	4.63M	7.65M	6.42M	16.24M
Total Debt	9.45M	10.59M	13.37M	15.03M	35.78M
Total Liabilities	31.39M	34.88M	38.01M	33.99M	44.29M
Stockholders Equity	45.09M	38.98M	43.44M	42.77M	36.79M
Cash Flow
Free Cash Flow	-582.00K	-1.30M	2.45M	-3.12M	38.43M
Operating Cash Flow	856.00K	398.00K	3.48M	-1.44M	38.73M
Investing Cash Flow	-77.00K	-840.00K	2.76M	-4.28M	1.05M
Financing Cash Flow	-575.00K	-2.66M	-5.09M	-4.08M	-30.66M

First Property Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 15.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: 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 15.25 is above the 20-day moving average (MA) of 15.04, above the 50-day MA of 13.70, and above the 200-day MA of 14.03, indicating a bullish trend. The MACD of 0.45 indicates Positive momentum. The RSI at 74.23 is Negative, neither overbought nor oversold. The STOCH value of 54.17 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FLK	76 Outperform	£3.69M	12.24	7.14%	6.25%	34.03%	24.05%
CDFF	69 Neutral	£26.23M	25.49	3.49%	0.94%	-1.79%	-10.25%
SPDI	68 Neutral	£7.11M	1.11	60.45%	―	―	―
FPO	67 Neutral	£22.18M	9.13	5.09%	―	-3.81%	―
Sector *	66 Neutral	£948.30M	13.94	2.04%	5.25%	11.04%	38.13%
GR1T	52 Neutral	£35.49M	―	-37.17%	16.91%	25.50%	-91.61%
LAS	51 Neutral	£7.68M	―	-1.32%	―	3.26%	90.27%

First Property Corporate Events

First Property Group CEO Increases Stake with Significant Share Purchase

First Property Group plc announced that its CEO, Ben Habib, has acquired 600,000 ordinary shares at a price of 13.33 pence per share, increasing his total holding to approximately 16.79% of the company’s voting rights. This transaction, conducted outside of a trading venue, reflects a significant vote of confidence in the company’s future prospects and may influence stakeholder perceptions and market positioning.

First Property Group’s Associate Increases Stake with Share Purchase

First Property Group plc announced that its associate, Fprop Phoenix Limited, in which it holds a 23.78% stake, has purchased 100,000 ordinary shares of First Property at 15.00 pence per share. This acquisition represents approximately 0.07% of the company’s total issued share capital, indicating a strategic move to enhance its investment position within the company.

First Property Group Reports Financial Turnaround Amid Market Challenges

First Property Group plc reported a significant turnaround in its financial performance for the year ended 31 March 2025, achieving a statutory profit before tax of £3.03 million compared to a loss of £4.41 million the previous year. This improvement was driven by reduced impairment charges, increased value in investments, and cost-cutting measures. Despite the economic uncertainty and a challenging market for office properties, the company has managed to reduce its gross and net debt and maintain a stable cash position. However, the total assets under management decreased due to property sales, and no dividend was declared for the year.

First Property Group to Announce Preliminary Results and Host Investor Presentation

First Property Group plc announced it will release its preliminary results for the year ending 31 March 2025 on 19 June 2025. An investor presentation will be held on the same day via the Investor Meet Company platform, allowing stakeholders to engage with the company. This announcement highlights First Property’s commitment to transparency and stakeholder engagement, potentially strengthening its market position.

First Property Group Sees Increase in Major Holdings by Peter Gyllenhammar AB

First Property Group PLC has announced a change in its major holdings, with Peter Gyllenhammar AB increasing its voting rights from 27.02% to 28.046%. This adjustment in holdings reflects a strategic move by the Swedish-based investor, potentially impacting the company’s decision-making process and influencing its market positioning. The notification highlights the involvement of various controlled undertakings, including Browallia Asset Management Ltd and Silversläggan Invest AB, which hold significant portions of the voting rights.

First Property Group Subsidiary Enters Administration Amid Debt Restructuring Challenges

First Property Group plc has placed its wholly owned subsidiary, Fprop Gdynia Podolska Sp. Zoo, into administration after failing to agree on restructuring terms with its principal creditor for a €12 million deferred consideration. This decision is not expected to materially impact the Group’s financial standing or trading profits, as the investment value aligns with the debt secured against it.

First Property Group Exceeds Profit Expectations Amid Strategic Financial Moves

First Property Group plc has reported a successful financial year, with profits before tax expected to significantly exceed market expectations. The company benefited from one-off events such as profits from the disposal of investment properties and early receipt of fees, alongside cost-cutting measures and a successful open offer of new shares. These actions have strengthened the company’s financial position, enabling it to trade profitably and position itself for future opportunistic investments.