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First Property
(LSE:FPO)
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Rating:56Neutral
Price Target:
14.00 p
▼(-25.33% Downside)
Action:Downgraded
Date:06/26/26
The score is driven mainly by financial performance: improving revenue and a strengthened balance sheet are positives, but weak operating/free cash flow and poor cash conversion meaningfully raise risk. Technicals are a secondary drag with the stock below key moving averages and a negative MACD. Valuation provides some support via a low P/E, but it is not enough to offset cash-flow concerns.
Positive Factors
Revenue Growth
A return to 20.1% top-line growth signals recovering demand and strengthens the firm's ability to scale recurring services. Durable revenue momentum supports planning, investment in capabilities, and improves the run-rate for future profitability over the next 2–6 months.
Negative Factors
Weak Cash Conversion
Significant divergence between accounting profits and cash flow indicates poor cash conversion, likely from working-capital drag or non-cash gains. This persistent cash-generation weakness increases execution risk and could force reliance on external financing or curtail investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A return to 20.1% top-line growth signals recovering demand and strengthens the firm's ability to scale recurring services. Durable revenue momentum supports planning, investment in capabilities, and improves the run-rate for future profitability over the next 2–6 months.
Read all positive factors
First Property (FPO) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£19.96M
Dividend YieldN/A
Average Volume (3M)25.95K
Price to Earnings (P/E)7.4
Beta (1Y)0.63
Revenue Growth15.45%
EPS Growth8.98%
CountryUK
Employees51
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.02
Shares Outstanding147,843,110
10 Day Avg. Volume15,265
30 Day Avg. Volume25,947
Financial Highlights & Ratios
PEG Ratio0.66
Price to Book (P/B)0.41
Price to Sales (P/S)2.25
P/FCF Ratio104.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
First Property Business Overview & Revenue Model
Company Description
First Property Group plc operates as a real estate investment enterprise, delivering a broad spectrum of services to the property sector. Based in London, UK, its activities span the United Kingdom and wider European regions. The company specializ...
How the Company Makes Money
null...
First Property Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
72
Positive
Cash Flow
38
Negative
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.72M | 7.55M | 7.85M | 7.25M | 8.64M |
| Gross Profit | 4.99M | 4.82M | 4.97M | 4.99M | 5.72M |
| EBITDA | 4.31M | 4.16M | -3.56M | 3.12M | 7.50M |
| Net Income | 2.68M | 2.14M | -4.58M | 1.92M | 6.78M |
Balance Sheet | |||||
| Total Assets | 69.90M | 78.71M | 75.81M | 83.48M | 76.98M |
| Cash, Cash Equivalents and Short-Term Investments | 6.95M | 4.82M | 4.63M | 7.65M | 6.42M |
| Total Debt | 9.14M | 9.45M | 10.59M | 13.37M | 15.03M |
| Total Liabilities | 19.18M | 31.39M | 34.88M | 38.01M | 33.99M |
| Stockholders Equity | 48.22M | 45.09M | 38.98M | 43.44M | 42.77M |
Cash Flow | |||||
| Free Cash Flow | 187.00K | -582.00K | -1.30M | 2.45M | -3.12M |
| Operating Cash Flow | 199.00K | 856.00K | 398.00K | 3.48M | -1.44M |
| Investing Cash Flow | 3.75M | -77.00K | -840.00K | 2.76M | -4.28M |
| Financing Cash Flow | -1.86M | -575.00K | -2.66M | -5.09M | -4.08M |
First Property Technical Analysis
Negative
18.75
Price Trends
14.01
Negative
14.69
Negative
15.69
Negative
Market Momentum
-0.17
Negative
47.73
Neutral
45.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:FPO, the sentiment is Negative. The current price of 18.75 is above the 20-day moving average (MA) of 13.53, above the 50-day MA of 14.01, and above the 200-day MA of 15.69, indicating a bearish trend. The MACD of -0.17 indicates Negative momentum. The RSI at 47.73 is Neutral, neither overbought nor oversold. The STOCH value of 45.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:FPO.
First Property Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | £27.25M | 20.99 | 4.44% | 0.91% | 3.71% | 29.79% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | £50.18M | 11.88 | 3.61% | 3.92% | -4.65% | -36.18% | |
56 Neutral | £19.96M | 7.42 | 5.05% | ― | 15.45% | 8.98% | |
50 Neutral | £30.58M | -0.48 | -27.53% | ― | ― | ― | |
47 Neutral | £41.61M | -24.27 | -1.75% | ― | ― | ― | |
47 Neutral | £166.69M | -27.90 | -2.38% | ― | ― | ― |
* Real Estate Sector Average
GB:FPO
First Property
13.50
-1.50
-10.00%
GB:CDFF
The Cardiff Property
2,750.00
178.64
6.95%
GB:DCI
Dolphin Capital Investors
4.60
-0.20
-4.17%
GB:PNS
Panther Securities
290.00
20.76
7.71%
GB:PSDL
Phoenix Spree Deutschland Ltd
168.00
-1.50
-0.88%
GB:GR1T
Grit Real Estate Income Group Limited
6.15
-0.85
-12.14%
First Property Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
First Property boosts profit, slashes debt and restores dividend
Positive
Jun 25, 2026
First Property Group reported unaudited preliminary results showing a 12.2% rise in statutory profit before tax to £3.40 million for the year to 31 March 2026, driven by higher rental income at its Warsaw Blue Tower asset and cost savings. Th...
Business Operations and StrategyFinancial Disclosures
First Property sets date for 2026 results and online investor briefing
Neutral
May 20, 2026
First Property Group said it will publish its preliminary results for the year to 31 March 2026 on 25 June, with the announcement scheduled for 7 a.m. The property fund manager will host an analyst and investor presentation at 11 a.m. BST on the s...
Business Operations and StrategyFinancial Disclosures
First Property Expects Profit Beat After Asset Sales and Stronger Balance Sheet
Positive
Apr 14, 2026
First Property Group expects profit before tax for the year to 31 March 2026 to exceed current market expectations, despite continued volatility in commercial property markets. Performance was boosted by one-off gains from the sale of directly own...
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.