First Property (FPO) AI Stock Analysis

• Market Cap: £28.09M
• Dividend Yield: N/A
• Average Volume (3M): 25.95K
• Price to Earnings (P/E): 12.3
• Beta (1Y): 0.31
• Revenue Growth: -7.14%
• EPS Growth: N/A
• Country: UK
• Employees: 51
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): <0.01
• Shares Outstanding: 147,843,110
• 10 Day Avg. Volume: 15,265
• 30 Day Avg. Volume: 25,947
• PEG Ratio: -0.06
• Price to Book (P/B): 0.38
• Price to Sales (P/S): 2.30
• P/FCF Ratio: -29.82
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: 19.50p ▲(2.63% Upside)

First Property's strong technical momentum and positive corporate events are the most significant factors driving the score. The company's financial performance shows recovery but remains challenged by inconsistent revenue growth and cash flow generation. Valuation is reasonable, but the lack of a dividend yield is a minor drawback.

Positive Factors

Business Model Strength

Diverse revenue streams from management fees, rental income, and property sales provide resilience and adaptability in varying market conditions.

Operational Efficiency

Improving EBITDA margins suggest enhanced operational efficiency, which can lead to better profitability and competitive positioning.

Financial Stability

A strong equity base and manageable leverage enhance financial stability, providing a buffer against economic fluctuations and supporting growth.

Negative Factors

Revenue Growth Challenges

Fluctuating revenue and recent declines highlight challenges in maintaining consistent growth, potentially impacting long-term market position.

Inconsistent Cash Flow

Inconsistent free cash flow generation can limit investment capacity and financial flexibility, posing risks to sustainable growth and operations.

Net Income Volatility

Volatile net income indicates potential instability in earnings, which can affect investor confidence and strategic planning.

First Property Business Overview & Revenue Model

Company Description

First Property Group plc is a real estate investment firm. It provides fund management, financial, and technical services to the property industry in the United Kingdom and other European countries. The firm manages commercial properties of various fund investors, as well as involves in property investment and trading, property equity finance, and online activities. It also engages in the facilities management of properties, which include contract installation and maintenance of air conditioning and ventilation systems for office working environments. The firm prefers to invest in offices that can be converted into flats . First Property Group plc is based in London, the United Kingdom.

How the Company Makes Money

First Property generates revenue primarily through its property investment activities, earning income from rental yields on its commercial properties. The company also makes money through asset management fees charged to investors for managing their property investments. Additionally, FPO may benefit from property sales and capital gains when assets are sold at a profit. Significant partnerships with institutional investors and property development firms enhance its revenue opportunities, enabling FPO to leverage expertise and share risks in various property ventures.

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 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	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.26M	7.55M	7.85M	7.25M	8.64M	12.12M
Gross Profit	0.00	4.82M	4.97M	4.99M	5.72M	7.99M
EBITDA	1.67M	4.16M	-3.56M	3.12M	7.50M	-2.99M
Net Income	2.27M	2.14M	-4.58M	1.92M	6.78M	-7.45M
Balance Sheet
Total Assets	68.45M	78.71M	75.81M	83.48M	76.98M	81.28M
Cash, Cash Equivalents and Short-Term Investments	3.29M	4.82M	4.63M	7.65M	6.42M	16.24M
Total Debt	9.39M	9.45M	10.59M	13.37M	15.03M	35.78M
Total Liabilities	19.10M	31.39M	34.88M	38.01M	33.99M	44.29M
Stockholders Equity	47.03M	45.09M	38.98M	43.44M	42.77M	36.79M
Cash Flow
Free Cash Flow	443.00K	-582.00K	-1.30M	2.45M	-3.12M	38.43M
Operating Cash Flow	444.00K	856.00K	398.00K	3.48M	-1.44M	38.73M
Investing Cash Flow	-1.45M	-77.00K	-840.00K	2.76M	-4.28M	1.05M
Financing Cash Flow	-1.94M	-575.00K	-2.66M	-5.09M	-4.08M	-30.66M

First Property Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 19.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• 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 19 is above the 20-day moving average (MA) of 17.88, above the 50-day MA of 16.40, and above the 200-day MA of 14.79, indicating a bullish trend. The MACD of 0.86 indicates Negative momentum. The RSI at 95.96 is Negative, neither overbought nor oversold. The STOCH value of 74.55 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
FPO	70 Outperform	£28.09M	12.34	5.05%	―	-7.14%	―
CDFF	69 Neutral	£26.79M	20.33	4.45%	0.91%	-2.80%	30.05%
FLK	66 Neutral	£3.59M	35.71	2.37%	6.43%	-6.18%	-66.67%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
GR1T	52 Neutral	£31.69M	-0.37	-43.94%	―	15.55%	-116.52%
SPDI	50 Neutral	£2.26M	-2.22	-2.41%	―	-55.33%	-115.99%
LAS	45 Neutral	£3.41M	-2.00	-6.18%	―	13.51%	-112.77%

First Property Corporate Events

First Property Group Reports Increased Profits Amid Market Challenges

First Property Group plc reported a profit before tax of £1.48 million for the six months ending 30 September 2025, up from £1.16 million in the same period last year, driven by higher rent and service charge income and reduced operating expenses. Despite challenging market conditions, the company successfully increased its net assets to £56.47 million, reflecting its resilience and strategic asset management. The sale of two properties significantly boosted cash reserves, reducing net debt by 48.4%, positioning the company well for future opportunities.

First Property Group to Announce Interim Results and Host Investor Presentation

First Property Group plc announced that it will release its interim results for the six months ended 30 September 2025 on 27 November 2025. The company will host a live presentation via the Investor Meet Company platform, inviting existing and potential shareholders to participate and submit questions, highlighting its commitment to transparency and stakeholder engagement.

First Property Group Reports Strong Recovery and Strategic Property Sales

First Property Group plc has shown a strong recovery from recent economic challenges, reporting a profit before tax of £3.03 million for the year ended March 2025, surpassing market expectations. The company has sold two properties, increasing its free cash by £4.0 million, and maintains a stable total fund under management of £220 million, with a notable increase in third-party funds under management.