Rightmove Plc, Winterhill (RMV:LN)

Real Estate/Real Estate Services Price: 737.40 GBX Report Date: September 22, 2021 Business Description and Key Statistics

Rightmove operates as an online property portal. Co.'s segments Current YTY % Chg include The Agency, which includes resale and lettings property advertising services provided on Co.'s platforms and tenant Revenue LFY (M) 289 8.0 referencing and insurance products sold by Van Mildert Landlord EPS Diluted LFY 0.19 10.2 and Tenant Protection Limited; and The New Homes, which provides property advertising services to new home developers Market Value (M) 6,453 and housing associations on Co.'s platforms. Co.'s customers are primarily estate agents, lettings agents and new homes developers Shares Outstanding LFY (000) 875,062 advertising properties for sale and to rent in the United Kingdom. Book Value Per Share 0.05 EBITDA Margin % 75.10

Net Margin % 60.8 Website: www.rightmove.co.uk Long-Term Debt / Capital % 20.3 ICB Industry: Real Estate Dividends and Yield TTM 0.04 - 0.61% ICB Subsector: Real Estate Services Payout Ratio TTM % 34.9 Address: 2 Caldecotte Lake;Business Park;Caldecotte Lake Drive 60-Day Average Volume (000) 1,679 Milton Keynes 52-Week High & Low 746.80 - 555.80 GBR Employees: 538 Price / 52-Week High & Low 0.99 - 1.33

Price, Moving Averages & Volume

756.4 756.4 Rightmove Plc, Winterhill is currently trading at 737.40 which is 4.4% above its 50 day 730.1 730.1 moving average price of 706.13 and 15.3% above its 703.8 703.8 200 day moving average price of 639.56.

677.6 677.6 RMV:LN is currently 1.3% below its 52-week high price of 746.80 and is 32.7% above its 651.3 651.3 52-week low price of 555.80. Over the past 52-weeks, 625.0 625.0 RMV:LN is up 23.7% while on a calendar year-to-date basis it is up 13.3%. 598.8 598.8 The Relative Strength Index (RSI) indicator for RMV:LN is 572.5 572.5 currently 58.34. An RSI value of 70 and above is considered 546.3 546.3 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) 7,986 7,986

6,019 6,019

4,052 4,052

2,086 Mean (2061.36) 2,086

119 119 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)

Real Estate/Real Estate Services Price: 737.40 GBX Report Date: September 22, 2021 Price Performance, Technical Indicators & Risk Metrics

Difference Price Performance % Change vs FTSE 350 Technical Indicators 1-Day % 0.52 -0.56 50-Day Average Price 706.13 1-Week % 0.33 1.01 Price / 50-Day Average 1.04 4-Week % 5.01 6.58 200-Day Average Price 639.56 52-Week % 23.68 0.48 Price / 200-Day Average 1.15 RSI - Relative Strength Index 58.34 Quarter-to-Date % 13.55 13.24

Year-to-Date % 13.31 3.99 Risk Metrics Last Month % -0.11 -2.03 Price Volatility 14.65 Last Quarter % 11.54 6.87 Sharpe Ratio 0.18 Last Calendar Year % 2.71 15.70 Sortino Ratio 0.31

5-Year Price Performance vs. FTSE 350

Rightmove Plc, Winterhill Current: 1.50 CAGR: 14.1% Over the past five years, FTSE 350 Index Current: 1.17 CAGR: 3.3% Rightmove Plc, Winterhill's stock price is up 49.9% which 1.6 1.6 is 32.4% above the FTSE 350 Index performance of 17.4% RMV:LN over the same period. 1.5 1.5 Rightmove Plc, Winterhill's cumulative annualized growth 1.4 1.4 rate (CAGR) over the five year period has been 14.1% while that of the FTSE 350 Index 1.4 1.4 has been 3.3%.

Over the past year, Rightmove 1.3 1.3 Plc, Winterhill's stock price performance of 23.7% has 1.2 1.2 outperformed that of the FTSE 350 Index by 0.5%. On a year- to-date basis, Rightmove Plc, 1.2 ^NMX:LN 1.2 Winterhill's stock price performance of 13.3% has 1.1 1.1 outperformed the FTSE 350 Index by 4.0%.

1.1 1.1 Over the past week, Rightmove Plc, Winterhill's stock price performance of 1.0 1.0 0.3% has outperformed that of the FTSE 350 Index by 1.0%. 0.9 0.9

0.9 0.9

0.8 0.8 2016 2017 2018 2019 2020 2021 2022

Real Estate/Real Estate Services Price: 737.40 GBX Report Date: September 22, 2021 Growth and Profitability Metrics

5-Year 10-Year Historical Growth 3-Year 5-Year 10-Year Profitability Current Average Average Revenues % 9.6 11.6 15.3 Gross Margin % Revenues Per Share % 12.1 14.3 17.9 EBITDA Margin % 75.1 72.3 EBITDA % 10.0 12.0 18.5 Pre-Tax Margin % 73.8 71.4 EPS Diluted % 12.6 15.1 21.8 Net Margin % 60.8 57.5 Free Cash Flow % 12.0 14.0 20.9 Return on Equity % 100.0 100.0 Cash from Operations % 9.3 11.2 18.2 Return on Capital % 100.0 100.0 Book Value % 76.3 79.8 32.9 Return on Assets % 100.0 99.8

Revenue (M) Rightmove Plc, Winterhill's cumulative annualized revenue Current: 289.32 Median: 255.55 High: 289.32 Low: 219.99 CAGR: 9.6% growth rate over the charted 303.2 303.2 289.3 period is 9.6%. This compares to cumulatative annualized 274.3 267.8 274.3 growth of 9.6% over the past 3 years. 243.3 245.4 245.4 220.0 216.5 216.5 2016 2017 2018 2019 2020 2021 Rightmove Plc, Winterhill's EPS Diluted cumulative annualized EPS Current: 0.19 Median: 0.17 High: 0.19 Low: 0.14 CAGR: 10.7% growth rate over the charted 0.200 0.200 period is 10.7%. This 0.190 compares to cumulatative 0.180 0.179 0.179 annualized growth of 12.6% over the past 3 years. 0.160 0.158 0.158 0.140 0.138 0.138 2016 2017 2018 2019 2020 2021

Net Profit Margin % Rightmove Plc, Winterhill's net profit margin of 60.8% is 0.3% Current: 60.77 Median: 60.57 High: 60.98 Low: 59.47 CAGR: 0.7% above the period's mean net 61.1 61.1 margin of 60.4%. During the charted period, the observed 60.5 Mean (60.44) 60.5 net profit margin high and low were 61.0% and 59.5% 59.9 59.9 respectively.

59.4 59.4 2016 2017 2018 2019 2020 2021 Rightmove Plc, Winterhill's Return on Equity % return on equity of 100.0% is Current: 100.00 Median: 100.00 High: 100.00 Low: 100.00 CAGR: 0.0% equal to the period's mean 110.0 110.0 return on equity of 100.0%. During the charted period, the 103.3 103.3 observed ROE high and low Mean (100.00) were 100.0% and 100.0% respectively. 96.7 96.7

90.0 90.0 2016 2017 2018 2019 2020 2021

Real Estate/Real Estate Services Price: 737.40 GBX Report Date: September 22, 2021 Valuation Metrics

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

Price / EPS TTM 37.8 Earnings Yield % 3.32

Price / Sales 23.0 Free Cash Flow Yield % 2.76

Price / Operating Cash Flow 37.1 Dividend Yield % 0.61

Price / Book Value 49.9 Enterprise Value / EBITDA 29.6

Price / EPS TTM Rightmove Plc, Winterhill is trading at 37.83 times its EPS Current: 37.83 Median: 30.64 High: 38.30 Low: 21.60 CAGR: 8.3% generated during the latest 39.1 39.1 fiscal year. This multiple is above the historically observed 33.0 33.0 median of 30.64, while high Median (30.64) and low observations have been 38.30 and 21.60. 26.9 26.9

20.8 20.8 2016 2017 2018 2019 2020 2021 Price / Sales Rightmove Plc, Winterhill is trading at a Price to Sales ratio Current: 22.99 Median: 18.67 High: 23.27 Low: 13.12 CAGR: 8.4% of 22.99 based on sales 23.78 23.78 generated during the latest fiscal year. This ratio is above 20.06 20.06 the historically observed Median (18.67) median ratio of 18.67, while high and low observations 16.33 16.33 have been 23.27 and 13.12.

12.61 12.61 2016 2017 2018 2019 2020 2021 Rightmove Plc, Winterhill is Price / Book Value trading at a Price to Book ratio Current: 49.90 Median: 49.90 High: 49.90 Low: 49.90 CAGR: 0.0% of 49.90 based on book value 59.9 59.9 at the latest fiscal year end. This ratio is equal to the historically observed Price/ 53.2 53.2 Book Value ratio of 49.90, Median (49.90) while high and low 46.6 46.6 observations have been 49.90 and 49.90.

39.9 39.9 2016 2017 2018 2019 2020 2021 Rightmove Plc, Winterhill has Free Cash Flow Yield % a Free Cash Flow Yield of Current: 2.76 Median: 3.40 High: 4.84 Low: 2.73 CAGR: -6.8% 2.76% based on free cash flow 4.9 4.9 generated during the latest fiscal year. This value is below the historically observed 4.2 4.2 median yield of 3.40%, while high and low observations 3.4 Median (3.40) 3.4 have been 4.84 and 2.73.

2.6 2.6 2016 2017 2018 2019 2020 2021

Real Estate/Real Estate Services Price: 737.40 GBX Report Date: September 22, 2021 Dividends Data

Dividends Per Share TTM 0.04 Payout Ratio TTM % 34.89% Dividend Yield TTM % 0.61%

Rate Ex Date Record Date Payment Date Currency Note 0.045 29-04-2021 30-04-2021 28-05-2021 GBP FINAL GROSS 0.044 30-04-2020 01-05-2020 29-05-2020 GBP BOARD CONSIDERS IT PRUDENT TO CANCEL THE FINAL DIVIDEND 0.028 03-10-2019 04-10-2019 01-11-2019 GBP INTERIM GROSS 0.040 02-05-2019 03-05-2019 31-05-2019 GBP FINAL GROSS 0.025 04-10-2018 05-10-2018 02-11-2018 GBP INTERIM GROSS

Dividend Growth and Yield

Dividends Per Share TTM Rightmove Plc, Winterhill's trailing 12-month dividend per Current: 0.04 Median: 0.07 High: 0.31 Low: 0.04 CAGR: 0.0% share is 0.04 and its dividend 0.32 0.32 has grown at a cumulative annualized rate of 0.0% over 0.27 0.27 the charted period. This compares to dividend growth 0.22 0.22 of -37.50% over the past year and cumulative annualized growth of -40.90% over the 0.18 0.18 past 3 years.

0.13 0.13

0.08 0.08

0.03 0.03 2016 2017 2018 2019 2020 2021

Dividend Yield TTM % Rightmove Plc, Winterhill's current dividend yield is 0.61% Current: 0.61 Median: 1.16 High: 7.12 Low: 0.60 CAGR: -47.6% based on trailing 12 month 7.45 7.45 dividends. The current yield is below the historically observed 6.25 6.25 median of 1.16% and, over the charted time period, the 5.06 5.06 observed high yield has been 7.12% and the observed low yield has been 0.60%. 3.86 3.86

2.66 2.66

1.47 1.47

0.27 0.27 2016 2017 2018 2019 2020 2021

Real Estate/Real Estate Services Price: 737.40 GBX Report Date: September 22, 2021 ICB Subsector Peer Comparisons

Price Change Year to Date % Price Change Last Calendar Year % -64.7 -26.8 11.0 48.9 86.8 -55.3 -20.6 14.2 48.9 83.6

Belvoir Group PLC 79.9 OnTheMarket PLC 77.3 LSL Property Services PLC 55.7 M Winkworth PLC 9.6 M Winkworth PLC 47.4 Belvoir Group PLC 6.7 Property Franchise Group PLC (The) 46.6 LSL Property Services PLC 6.2 Savills PLC 43.5 Rightmove Plc, Winterhill 2.7 Peer Group Average 23.0 Peer Group Average 1.4 Fletcher King PLC 20.0 Property Franchise Group PLC (The) -5.5 Rightmove Plc, Winterhill 13.3 Fletcher King PLC -11.8 Foxtons Group Plc -7.3 Savills PLC -15.9 OnTheMarket PLC -24.0 PurpleBricks Group PLC -17.6 PurpleBricks Group PLC -45.3 Foxtons Group Plc -37.5

-64.7 -26.8 11.0 48.9 86.8 -55.3 -20.6 14.2 48.9 83.6

Price / EPS TTM Price / Book Value 0.0 26.0 52.0 77.9 103.9 0.0 13.1 26.2 39.3 52.3

Fletcher King PLC 99.9 Rightmove Plc, Winterhill 49.9 OnTheMarket PLC 99.9 Peer Group Average 7.9 Foxtons Group Plc 99.9 M Winkworth PLC 5.4 Peer Group Average 47.4 OnTheMarket PLC 5.1 Rightmove Plc, Winterhill 37.8 Property Franchise Group PLC (The) 4.2 LSL Property Services PLC 28.9 Belvoir Group PLC 3.9 Savills PLC 23.3 Savills PLC 3.8 Property Franchise Group PLC (The) 22.9 LSL Property Services PLC 3.0 Belvoir Group PLC 21.1 PurpleBricks Group PLC 2.0 M Winkworth PLC 20.9 Foxtons Group Plc 1.2 PurpleBricks Group PLC 19.3 Fletcher King PLC 1.0

0.0 26.0 52.0 77.9 103.9 0.0 13.1 26.2 39.3 52.3

EPS 5-Year Growth Rate % Revenue 5-Year Growth Rate % -270.5 62.2 395.0 727.7 1,060.4 -12.5 0.6 13.6 26.6 39.7

PurpleBricks Group PLC 999.9 PurpleBricks Group PLC 37.3 Peer Group Average 88.1 Eastern Property Holdings Ltd 30.2 Belvoir Group PLC 18.2 Belvoir Group PLC 24.2 Rightmove Plc, Winterhill 15.1 Property Franchise Group PLC (The) 17.0 Property Franchise Group PLC (The) 12.9 Savills PLC 12.3 Savills PLC 5.4 Peer Group Average 12.3 M Winkworth PLC -3.1 Rightmove Plc, Winterhill 11.6 LSL Property Services PLC -11.9 M Winkworth PLC 3.1 Eastern Property Holdings Ltd -18.5 LSL Property Services PLC -2.4 Fletcher King PLC -36.9 Fletcher King PLC -5.0 Foxtons Group Plc -100.0 Foxtons Group Plc -5.8

-270.5 62.2 395.0 727.7 1,060.4 -12.5 0.6 13.6 26.6 39.7

Real Estate/Real Estate Services Price: 737.40 GBX Report Date: September 22, 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%.

Real Estate/Real Estate Services Price: 737.40 GBX Report Date: September 22, 2021

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