Berkeley Group Holdings Plc (BKG:LN)

Consumer Discretionary/Home Construction Price: 4,751.00 GBX Report Date: September 3, 2021 Business Description and Key Statistics

Berkeley Group Holdings is a holding company. Through its Current YTY % Chg subsidiaries, Co. is engaged in residential-led mixed use development and ancillary activities. Co. builds homes and Revenue LFY (M) 2,202 14.7 communities across London, Birmingham and the EPS Diluted LFY 0.72 6.1 South-East of England. Market Value (M) 26,684 Shares Outstanding LFY (000) 561,659 Book Value Per Share 5.65 EBITDA Margin % 23.10

Net Margin % 19.6 Website: www.berkeleygroup.co.uk Long-Term Debt / Capital % 8.6 ICB Industry: Consumer Discretionary Dividends and Yield TTM 1.16 - 2.44% ICB Subsector: Home Construction Payout Ratio TTM % 100.0 Address: Berkeley House;19 Portsmouth Road Cobham 60-Day Average Volume (000) 455 GBR 52-Week High & Low 4,943.00 - 4,001.00 Employees: 2,627 Price / 52-Week High & Low 0.96 - 1.19

Price, Moving Averages & Volume

4,990.1 4,990.1 Berkeley Group Holdings Plc is currently trading at 4,751.00 which is 1.1% below its 50 day 4,860.6 4,860.6 moving average price of 4,804.42 and 3.2% above its 4,731.0 4,731.0 200 day moving average price of 4,603.30.

4,601.5 4,601.5 BKG:LN is currently 3.9% below its 52-week high price of 4,943.00 and is 18.7% above 4,472.0 4,472.0 its 52-week low price of 4,001.00. Over the past 52- 4,342.5 4,342.5 weeks, BKG:LN is up 2.2% while on a calendar year-to- date basis it is up 0.2%. 4,213.0 4,213.0 The Relative Strength Index (RSI) indicator for BKG:LN is 4,083.4 4,083.4 currently 40.92. An RSI value of 70 and above is considered 3,953.9 3,953.9 overbought and 30 and below 10/20 11/20 12/20 1/21 2/21 3/21 4/21 5/21 6/21 7/21 8/21 9/21 oversold. Volume (000) 5,060 5,060

3,795 3,795

2,530 2,530

1,265 1,265 Mean (431.80) 0 0 10/20 11/20 12/20 1/21 2/21 3/21 4/21 5/21 6/21 7/21 8/21 9/21

Price Price (50-Day Simple Moving Average) Price (200-Day Simple Moving Average)

Consumer Discretionary/Home Construction Price: 4,751.00 GBX Report Date: September 3, 2021 Price Performance, Technical Indicators & Risk Metrics

Difference Price Performance % Change vs FTSE 350 Technical Indicators 1-Day % -0.34 -1.42 50-Day Average Price 4804.42 1-Week % -1.55 -0.87 Price / 50-Day Average 0.99 4-Week % -2.90 -1.33 200-Day Average Price 4603.30 52-Week % 2.22 -20.98 Price / 200-Day Average 1.03 RSI - Relative Strength Index 40.92 Quarter-to-Date % 3.39 3.08

Year-to-Date % 0.19 -9.13 Risk Metrics Last Month % -0.37 -2.29 Price Volatility 56.52 Last Quarter % 3.51 -1.16 Sharpe Ratio 0.17 Last Calendar Year % -2.41 10.58 Sortino Ratio 0.27

5-Year Price Performance vs. FTSE 350

Berkeley Group Holdings Plc Current: 1.84 CAGR: 13.2% Over the past five years, FTSE 350 Index Current: 1.17 CAGR: 3.3% Berkeley Group Holdings Plc's stock price is up 84.1% which 2.2 2.2 is 66.7% above the FTSE 350 Index performance of 17.4% over the same period. 2.1 2.1 Berkeley Group Holdings Plc's cumulative annualized growth 1.9 1.9 rate (CAGR) over the five year period has been 13.2% while that of the FTSE 350 Index 1.8 BKG:LN 1.8 has been 3.3%.

Over the past year, Berkeley 1.7 1.7 Group Holdings Plc's stock price performance of 2.2% has 1.6 1.6 underperformed that of the FTSE 350 Index by 21.0%. On a year-to-date basis, 1.5 1.5 Berkeley Group Holdings Plc's stock price performance of 1.4 1.4 0.2% has underperformed the FTSE 350 Index by 9.1%.

1.2 1.2 Over the past week, Berkeley ^NMX:LN Group Holdings Plc's stock price performance of -1.5% 1.1 1.1 has underperformed that of the FTSE 350 Index by 0.9%. 1.0 1.0

0.9 0.9

0.8 0.8 2016 2017 2018 2019 2020 2021 2022

Consumer Discretionary/Home Construction Price: 4,751.00 GBX Report Date: September 3, 2021 Growth and Profitability Metrics

5-Year 10-Year Historical Growth 3-Year 5-Year 10-Year Profitability Current Average Average Revenues % -6.6 1.5 11.5 Gross Margin % 28.8 32.9 32.1 Revenues Per Share % -3.8 4.8 12.0 EBITDA Margin % 23.1 26.3 24.3 EBITDA % -13.4 0.1 14.0 Pre-Tax Margin % 22.5 26.0 24.1 EPS Diluted % -15.5 4.4 16.8 Net Margin % 19.6 23.5 20.3 Free Cash Flow % -20.9 999.9 999.9 Return on Equity % 13.3 23.8 21.3 Cash from Operations % -23.2 999.9 999.9 Return on Capital % 12.6 22.9 21.8 Book Value % 10.2 14.8 13.9 Return on Assets % 7.7 12.9 11.6

Revenue (M) Berkeley Group Holdings Plc's cumulative annualized revenue Current: 2202.20 Median: 2703.70 High: 2957.40 Low: 1920.40 CAGR: -5.2% growth rate over the charted 3,164.8 3,164.8 2,957.4 period is -5.2%. This 2,723.5 2,703.7 compares to cumulatative 2,732.7 2,732.7 annualized growth of -6.6% over the past 3 years. 2,300.6 2,202.2 2,300.6 1,920.4 1,868.6 1,868.6 2016 2017 2018 2019 2020 2021 Berkeley Group Holdings Plc's EPS Diluted cumulative annualized EPS Current: 0.72 Median: 0.98 High: 1.19 Low: 0.68 CAGR: -7.4% growth rate over the charted 1.29 1.29 period is -7.4%. This 1.19 compares to cumulatative 1.08 1.02 1.08 annualized growth of -15.5% 0.98 over the past 3 years. 0.87 0.87 0.72 0.68 0.65 0.65 2016 2017 2018 2019 2020 2021

Net Profit Margin % Berkeley Group Holdings Plc's net profit margin of 19.6% is Current: 19.61 Median: 22.78 High: 28.85 Low: 19.61 CAGR: -3.3% 3.8% below the period's mean 29.3 29.3 net margin of 23.5%. During the charted period, the 25.9 25.9 observed net profit margin Mean (23.46) high and low were 28.9% and 22.5 22.5 19.6% respectively.

19.1 19.1 2016 2017 2018 2019 2020 2021 Berkeley Group Holdings Plc's Return on Equity % return on equity of 13.3% is Current: 13.30 Median: 25.10 High: 33.90 Low: 13.30 CAGR: -15.3% 10.5% below the period's 34.9 34.9 mean return on equity of 23.8%. During the charted 27.4 27.4 period, the observed ROE Mean (23.78) high and low were 33.9% and 13.3% respectively. 19.8 19.8

12.3 12.3 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Home Construction Price: 4,751.00 GBX Report Date: September 3, 2021 Valuation Metrics

5-Year 10-Year 5-Year 10-Year Current Median Median Current Median Median

Price / EPS TTM 66.0 37.1 54.4 Earnings Yield % 1.52 2.70 1.84

Price / Sales 12.9 9.4 9.6 Free Cash Flow Yield % 1.13 1.78 1.16

Price / Operating Cash Flow 65.1 36.9 53.9 Dividend Yield % 2.44 2.91 3.60

Price / Book Value 8.4 8.8 9.5 Enterprise Value / EBITDA 50.0 31.4 38.8

Price / EPS TTM Berkeley Group Holdings Plc is trading at 65.98 times its Current: 65.98 Median: 37.07 High: 71.65 Low: 28.39 CAGR: 11.9% EPS generated during the 73.8 73.8 latest fiscal year. This multiple is above the historically 58.0 58.0 observed median of 37.07, while high and low observations have been 71.65 42.1 Median (37.07) 42.1 and 28.39.

26.2 26.2 2016 2017 2018 2019 2020 2021 Price / Sales Berkeley Group Holdings Plc is trading at a Price to Sales Current: 12.94 Median: 9.40 High: 15.47 Low: 6.85 CAGR: 9.8% ratio of 12.94 based on sales 15.90 15.90 generated during the latest fiscal year. This ratio is above 12.74 12.74 the historically observed median ratio of 9.40, while high and low observations 9.58 Median (9.40) 9.58 have been 15.47 and 6.85.

6.42 6.42 2016 2017 2018 2019 2020 2021 Berkeley Group Holdings Plc Price / Book Value is trading at a Price to Book Current: 8.40 Median: 8.77 High: 12.57 Low: 6.81 CAGR: -1.6% ratio of 8.40 based on book 12.9 12.9 value at the latest fiscal year end. This ratio is below the historically observed median 10.7 10.7 of 8.77, while high and low observations have been 12.57 Median (8.77) 8.6 8.6 and 6.81.

6.5 6.5 2016 2017 2018 2019 2020 2021 Berkeley Group Holdings Plc Free Cash Flow Yield % has a Free Cash Flow Yield of Current: 1.13 Median: 1.79 High: 3.22 Low: 0.53 CAGR: 16.6% 1.13% based on free cash flow 3.4 3.4 generated during the latest fiscal year. This value is below the historically observed 2.4 2.4 median yield of 1.79%, while Median (1.79) high and low observations 1.4 1.4 have been 3.22 and 0.53.

0.4 0.4 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Home Construction Price: 4,751.00 GBX Report Date: September 3, 2021 Dividends Data

Dividends Per Share TTM 1.16 Payout Ratio TTM % 100.00% Dividend Yield TTM % 2.44%

Rate Ex Date Record Date Payment Date Currency Note 0.091 04-03-2021 05-03-2021 19-03-2021 GBP INTERIM GROSS 1.070 20-08-2020 21-08-2020 11-09-2020 GBP INTERIM GROSS 0.993 19-03-2020 20-03-2020 31-03-2020 GBP GROSS 0.201 22-08-2019 23-08-2019 13-09-2019 GBP INTERIM GROSS 0.071 20-12-2018 21-12-2018 16-01-2019 GBP GROSS 0.333 23-08-2018 24-08-2018 14-09-2018 GBP GROSS 0.568 01-03-2018 02-03-2018 23-03-2018 GBP INTERIM GROSS 0.518 24-08-2017 25-08-2017 15-09-2017 GBP GROSS 0.852 02-03-2017 03-03-2017 24-03-2017 GBP INTERIM GROSS 1.000 11-08-2016 12-08-2016 15-09-2016 GBP INTERIM GROSS 1.000 17-12-2015 18-12-2015 22-01-2016 GBP INTERIM NET

Dividend Growth and Yield

Dividends Per Share TTM Berkeley Group Holdings Plc's trailing 12-month dividend per Current: 1.16 Median: 1.16 High: 2.06 Low: 0.20 CAGR: -10.8% share is 1.16 and its dividend 2.15 2.15 has grown at a cumulative annualized rate of -10.8% over 1.81 1.81 the charted period. This compares to dividend growth 1.47 1.47 of -2.70% over the past year and cumulative annualized growth of 2.30% over the past 1.13 1.13 3 years.

0.79 0.79

0.45 0.45

0.11 0.11 2016 2017 2018 2019 2020 2021

Dividend Yield TTM % Berkeley Group Holdings Plc's current dividend yield is 2.44% Current: 2.44 Median: 2.91 High: 8.53 Low: 0.37 CAGR: -20.1% based on trailing 12 month 8.94 8.94 dividends. The current yield is below the historically observed 7.44 7.44 median of 2.91% and, over the charted time period, the 5.95 5.95 observed high yield has been 8.53% and the observed low yield has been 0.37%. 4.45 4.45

2.95 2.95

1.46 1.46

-0.04 -0.04 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Home Construction Price: 4,751.00 GBX Report Date: September 3, 2021 ICB Subsector Peer Comparisons

Price Change Year to Date % Price Change Last Calendar Year % 0.0 8.8 17.5 26.3 35.0 -36.0 -25.9 -15.7 -5.6 4.5

Glenveagh Properties Plc 33.4 Countryside Properties PLC (New) 2.7 Vistry Group PLC 33.3 Persimmon PLC 2.7 Crest Nicholson Holdings PLC 26.8 Glenveagh Properties Plc -1.6 Redrow Plc 25.6 Berkeley Group Holdings Plc -2.4 Bellway PLC 18.6 Barratt Developments plc -10.3 Peer Group Average 14.8 Peer Group Average -13.5 Countryside Properties PLC (New) 13.4 Taylor Wimpey Plc -14.3 Cairn Homes Plc 5.0 Bellway PLC -22.4 Barratt Developments plc 3.1 Redrow Plc -23.3 Taylor Wimpey Plc 2.4 Cairn Homes Plc -23.9 Persimmon PLC 1.2 Crest Nicholson Holdings PLC -24.5 Berkeley Group Holdings Plc 0.2 Vistry Group PLC -30.8 0.0 8.8 17.5 26.3 35.0 -36.0 -25.9 -15.7 -5.6 4.5

Price / EPS TTM Price / Book Value 0.0 26.1 52.2 78.4 104.5 0.0 2.2 4.4 6.6 8.8

Crest Nicholson Holdings PLC 99.9 Berkeley Group Holdings Plc 8.4 Countryside Properties PLC (New) 99.9 Countryside Properties PLC (New) 2.6 Berkeley Group Holdings Plc 66.0 Persimmon PLC 2.5 Peer Group Average 36.7 Peer Group Average 2.3 Glenveagh Properties Plc 28.6 Taylor Wimpey Plc 1.7 Bellway PLC 22.5 Redrow Plc 1.6 Redrow Plc 21.9 Vistry Group PLC 1.5 Barratt Developments plc 17.8 Barratt Developments plc 1.5 Persimmon PLC 14.0 Bellway PLC 1.4 Cairn Homes Plc 12.6 Glenveagh Properties Plc 1.4 Vistry Group PLC 12.4 Crest Nicholson Holdings PLC 1.3 Taylor Wimpey Plc 8.3 Cairn Homes Plc 1.0 0.0 26.1 52.2 78.4 104.5 0.0 2.2 4.4 6.6 8.8

EPS 5-Year Growth Rate % Revenue 5-Year Growth Rate % -117.4 -83.4 -49.4 -15.4 18.6 -5.5 -1.4 2.8 6.9 11.1

Taylor Wimpey Plc 12.4 Countryside Properties PLC (New) 10.3

Vistry Group PLC 5.3 Taylor Wimpey Plc 10.1

Berkeley Group Holdings Plc 4.4 Vistry Group PLC 6.9

Persimmon PLC 3.7 Bellway PLC 4.7

Barratt Developments plc -2.7 Peer Group Average 3.8

Redrow Plc -5.9 Redrow Plc 3.1

Bellway PLC -7.5 Persimmon PLC 2.8

Peer Group Average -21.1 Berkeley Group Holdings Plc 1.5

Countryside Properties PLC (New) -100.0 Barratt Developments plc -1.9

Crest Nicholson Holdings PLC -100.0 Crest Nicholson Holdings PLC -3.4

-117.4 -83.4 -49.4 -15.4 18.6 -5.5 -1.4 2.8 6.9 11.1

Consumer Discretionary/Home Construction Price: 4,751.00 GBX Report Date: September 3, 2021 Abbreviations: CAGR - Cumulative annual growth rate. EBIT - Earnings before interest and taxes. EBITDA - Earnings before interest, taxes, depreciation & amortization. LFY - Last fiscal year M - Million LON - London Stock Exchange

Definitions: Market Value - Weekly Price times latest Shares Outstanding times any applicable ADR factor. Revenue - Sum of the last four quarters of Revenues. Revenue Per Share - Sum of the last four quarters of Total Revenue divided by Weighted Average Shares Outstanding. Operating EPS LFY - EPS excluding non-recurring, non-operating items, fiscal year aligned TTM value. 60-Day Average Volume (000) - The average of the last 60 daily volume values in thousands of shares. Price 52-Week High - The high closing price from the last 52 weeks of daily closing prices. Price 52-Week Low - The low closing price from the last 52 weeks of daily closing prices. Price / 52-Week High - Latest price divided by the high price from the past 52 weeks of daily closing prices. Price / 52-Week Low - Latest price divided by the low price from the past 52 weeks of daily closing prices. 50-Day Average Price - Mean of last 50 daily closing prices. 200-Day Average Price - Mean of last 200 daily closing prices. Price / 50-Day Average Price - Latest closing price divided by mean of last 50 daily closing prices, as a percentage. Price / 200-Day Average Price - Latest closing price divided by mean of last 200 daily closing prices, as a percentage. Relative Strength Index - Relative Strength Index or RSI measures the magnitude of gains over a given time period against the magnitude of losses over that period. The equation is RSI = 100 - 100 / (1 + RS) where RS = (total gains / n) / (total losses / n) and n = number of RSI periods. In this item, 14 days is used and one year of daily prices are considered. A value of 30 or below may imply oversold and 70 or above may imply overbought. Price Volatility - The standard deviation of the last 20 days of daily closing prices. Sharpe Ratio - The 5 year average of the excess monthly return over the risk - free rate(1 - month T - bill) over the 5 year standard deviation of the same series. Sortino Ratio - The same calculation as the Sharpe Ratio but with positive excess returns set to zero for the standard deviation denominator, so only negative volatility weighs in. Dividends Per Share TTM - Sum of the last four quarters of Dividends Per Share. Payout Ratio - Dividends Per Share TTM divided by Operating EPS TTM. Dividend Yield TTM % - Sum of the last four quarter of Dividends Per Share divided by Weekly Price. EBITDA - Sum of the last four quarters of EBITDA (Operating Income + Depreciation & Amortization). Free Cash Flow - Sum of the last four quarters Net Cash from Operations minus Capital Expenditures (Purchase of Property, Plant & Equipment), from the Cash Flow Statement. Book Value Per Share - Total Common Equity last quarter divided by Shares Outstanding last quarter. Gross Margin % - Sum of the last four quarters Gross Profit divided by the sum of the last four quarters Revenues. EBITDA Margin % - Sum of the last four quarters EBITDA divided by the sum of the last four quarters Revenues. Pre-Tax Margin % - Sum of the last four quarters of Earnings Before Taxes divided by sum of the last four quarters Revenues. Net Profit Margin % - Sum of the last four quarters of Operating EPS divided by sum of the last four quarters Revenues Per Share. Return on Equity % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Book Value. Return on Capital % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Capital Per Share. Return on Assets % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Assets Per Share. Price / EPS TTM - Weekly Price divided by the sum of the last four quarters of Operating EPS (capped at 99.9). Price / Sales - Weekly Price divided by Revenues Per Share TTM. Price / Book Value - Weekly Price divided by Book Value Per Share last quarter. Book Value Per Share is Total Common Equity last quarter divided by Shares Outstanding last quarter (capped at 49.9). Free Cash Flow Yield % - Free Cash Flow Per Share TTM divided by Weekly Price. Enterprise Value - Market Value plus Total Debt last year plus Preferred Equity last year minus Cash & Cash Equivalents last year. Enterprise Value / Sales - Enterprise Value divided by the sum of the last four quarters of Revenue. Enterprise Value / EBITDA - Enterprise Value divided by EBITDA TTM. Enterprise Value / EBIT - Enterprise Value divided by trailing four quarters of Operating Income. Enterprise Value / Free Cash Flow- Enterprise Value divided by the sum of the last four quarters of Free Cash Flow. Russell 1000 Index - The largest 1,000 stocks by market cap, the index comprehensively covers the US large cap universe. EPS 5-Year Growth Rate % is capped at 999.9%. Revenue 5-Year Growth Rate % is capped at 999.9%.

Consumer Discretionary/Home Construction Price: 4,751.00 GBX Report Date: September 3, 2021

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