Persimmon PLC (PSN:LN)

Consumer Discretionary/Home Construction Price: 2,668.00 GBX Report Date: September 30, 2021 Business Description and Key Statistics

Persimmon is a holding company. Through its subsidiaries, Co. is Current YTY % Chg engaged in housebuilding within the U.K. Co.'s activities are focused on the regional housing markets across mainland U.K., Revenue LFY (M) 3,328 -8.8 covering England, Wales and Scotland. Co. trades under the brand EPS Diluted LFY 2.00 -25.0 names of Persimmon Homes, Charles Church, Westbury Partnerships, Space4 and FibreNest. Persimmon Homes delivers a Market Value (M) 8,510 range of family housing throughout the U.K. Westbury Partnerships is Co.'s brand with a focus on affordable social housing. Co.'s Shares Outstanding LFY (000) 318,966 FibreNest provides broadband service during installation and for Book Value Per Share 11.03 the duration of the service. Co.'s Brickworks produces concrete bricks and is focused on supplying its housebuilding operations. EBITDA Margin % 24.00 Net Margin % 19.1 Website: www.persimmonhomes.com Long-Term Debt / Capital % 0.0 ICB Industry: Consumer Discretionary Dividends and Yield TTM 1.95 - 8.81% ICB Subsector: Home Construction Payout Ratio TTM % 100.0 Address: Persimmon House Fulford 60-Day Average Volume (000) 687 GBR 52-Week High & Low 3,238.00 - 2,314.00 Employees: 5,221 Price / 52-Week High & Low 0.82 - 1.15

Price, Moving Averages & Volume

3,284.2 3,284.2 Persimmon PLC is currently trading at 2,668.00 which is 6.0% below its 50 day moving 3,157.2 3,157.2 average price of 2,837.60 and 8.6% below its 200 day 3,030.1 3,030.1 moving average price of 2,918.50.

2,903.1 2,903.1 PSN:LN is currently 17.6% below its 52-week high price of 3,238.00 and is 15.3% above 2,776.0 2,776.0 its 52-week low price of 2,314.00. Over the past 52- 2,649.0 2,649.0 weeks, PSN:LN is up 7.9% while on a calendar year-to- date basis it is down 3.6%. 2,521.9 2,521.9 The Relative Strength Index (RSI) indicator for PSN:LN is 2,394.9 2,394.9 currently 35.6. An RSI value of 70 and above is considered 2,267.8 2,267.8 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) 3,257 3,257

2,454 2,454

1,652 1,652

Mean (925.58) 849 849

46 46 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: 2,668.00 GBX Report Date: September 30, 2021 Price Performance, Technical Indicators & Risk Metrics

Difference Price Performance % Change vs FTSE 350 Technical Indicators 1-Day % 0.34 0.68 50-Day Average Price 2837.60 1-Week % -3.23 -2.70 Price / 50-Day Average 0.94 4-Week % -7.23 -5.57 200-Day Average Price 2918.50 52-Week % 7.89 -15.00 Price / 200-Day Average 0.91 RSI - Relative Strength Index 35.60 Quarter-to-Date % -9.80 -10.89

Year-to-Date % -3.58 -13.75 Risk Metrics Last Month % -9.25 -8.05 Price Volatility 62.35 Last Quarter % -9.80 -10.89 Sharpe Ratio 0.11 Last Calendar Year % 2.67 15.66 Sortino Ratio 0.17

5-Year Price Performance vs. FTSE 350

Persimmon PLC Current: 1.52 CAGR: 8.8% Over the past five years, FTSE 350 Index Current: 1.21 CAGR: 3.9% Persimmon PLC's stock price is up 52.2% which is 31.2% 1.9 1.9 above the FTSE 350 Index performance of 21.0% over the same period. Persimmon 1.8 1.8 PLC's cumulative annualized growth rate (CAGR) over the 1.7 1.7 five year period has been 8.8% while that of the FTSE 350 Index has been 3.9%. 1.6 1.6 Over the past year, Persimmon PLC's stock price performance 1.5 1.5 PSN:LN of 7.9% has underperformed that of the FTSE 350 Index by 1.5 1.5 15.0%. On a year-to-date basis, Persimmon PLC's stock price performance of -3.6% 1.4 1.4 has underperformed the FTSE 350 Index by 13.8%. 1.3 1.3 Over the past week, ^NMX:LN Persimmon PLC's stock price 1.2 1.2 performance of -3.2% has underperformed that of the FTSE 350 Index by 2.7%. 1.1 1.1

1.0 1.0

0.9 0.9

0.8 0.8 2017 2018 2019 2020 2021 2022

Consumer Discretionary/Home Construction Price: 2,668.00 GBX Report Date: September 30, 2021 Growth and Profitability Metrics

5-Year 10-Year Historical Growth 3-Year 5-Year 10-Year Profitability Current Average Average Revenues % -0.9 2.8 7.8 Gross Margin % 26.9 30.1 25.4 Revenues Per Share % -0.9 2.0 7.2 EBITDA Margin % 24.0 27.4 21.9 EBITDA % -6.1 4.7 14.3 Pre-Tax Margin % 23.6 27.4 21.7 EPS Diluted % -6.4 3.7 18.0 Net Margin % 19.1 22.2 17.4 Free Cash Flow % -2.5 8.3 12.3 Return on Equity % 19.1 25.1 19.7 Cash from Operations % -2.4 9.1 13.0 Return on Capital % 19.2 25.6 19.9 Book Value % 2.1 6.6 6.7 Return on Assets % 14.1 17.4 13.5

Revenue (M) Persimmon PLC's cumulative annualized revenue growth Current: 3328.30 Median: 3422.30 High: 3737.60 Low: 3136.80 CAGR: 1.5% rate over the charted period is 3,857.8 3,857.8 3,737.6 1.5%. This compares to 3,649.4 cumulatative annualized 3,607.4 3,607.4 growth of -0.9% over the past 3,422.3 3 years. 3,357.1 3,328.3 3,357.1 3,136.8 3,106.8 3,106.8 2017 2018 2019 2020 2021 Persimmon PLC's cumulative EPS Diluted annualized EPS growth rate Current: 2.00 Median: 2.43 High: 2.81 Low: 1.97 CAGR: 0.4% over the charted period is 2.98 2.98 0.4%. This compares to 2.81 cumulatative annualized 2.66 2.63 2.63 growth of -6.4% over the past 2.43 3 years. 2.28 2.28 1.97 2.00 1.93 1.93 2016 2017 2018 2019 2020 2021

Net Profit Margin % Persimmon PLC's net profit margin of 19.1% is 3.1% below Current: 19.14 Median: 22.66 High: 24.17 Low: 19.14 CAGR: -0.8% the period's mean net margin 24.4 24.4 of 22.2%. During the charted period, the observed net profit 22.6 Mean (22.20) 22.6 margin high and low were 24.2% and 19.1% respectively. 20.7 20.7

18.9 18.9 2016 2017 2018 2019 2020 2021 Persimmon PLC's return on Return on Equity % equity of 19.1% is 6.1% below Current: 19.10 Median: 26.20 High: 27.30 Low: 19.10 CAGR: -5.5% the period's mean return on 27.7 27.7 equity of 25.2%. During the charted period, the observed Mean (25.15) 24.7 24.7 ROE high and low were 27.3% and 19.1% respectively. 21.7 21.7

18.7 18.7 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Home Construction Price: 2,668.00 GBX Report Date: September 30, 2021 Valuation Metrics

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

Price / EPS TTM 13.4 10.4 12.3 Earnings Yield % 6.32 9.80 8.25

Price / Sales 2.6 2.3 2.0 Free Cash Flow Yield % 8.77 9.02 8.15

Price / Operating Cash Flow 13.1 10.3 12.1 Dividend Yield % 8.81 9.42 5.13

Price / Book Value 2.4 2.4 2.3 Enterprise Value / EBITDA 9.1 7.1 8.7

Price / EPS TTM Persimmon PLC is trading at 13.37 times its EPS generated Current: 13.37 Median: 10.41 High: 16.08 Low: 6.30 CAGR: 7.6% during the latest fiscal year. 16.6 16.6 This multiple is above the historically observed median 13.0 13.0 of 10.41, while high and low observations have been 16.08 Median (10.41) and 6.30. 9.4 9.4

5.8 5.8 2016 2017 2018 2019 2020 2021 Price / Sales Persimmon PLC is trading at a Price to Sales ratio of 2.56 Current: 2.56 Median: 2.26 High: 3.08 Low: 1.44 CAGR: 7.4% based on sales generated 3.16 3.16 during the latest fiscal year. This ratio is above the 2.56 2.56 historically observed median Median (2.26) ratio of 2.26, while high and low observations have been 1.96 1.96 3.08 and 1.44.

1.36 1.36 2016 2017 2018 2019 2020 2021 Persimmon PLC is trading at a Price / Book Value Price to Book ratio of 2.42 Current: 2.42 Median: 2.44 High: 3.21 Low: 1.59 CAGR: 2.0% based on book value at the 3.3 3.3 latest fiscal year end. This ratio is below the historically observed median of 2.44, 2.7 2.7 Median (2.44) while high and low observations have been 3.21 2.1 2.1 and 1.59.

1.5 1.5 2016 2017 2018 2019 2020 2021 Persimmon PLC has a Free Free Cash Flow Yield % Cash Flow Yield of 8.77% Current: 8.77 Median: 9.02 High: 12.26 Low: 5.70 CAGR: -5.3% based on free cash flow 12.6 12.6 generated during the latest fiscal year. This value is below the historically observed 10.2 10.2 median yield of 9.02%, while Median (9.02) high and low observations 7.8 7.8 have been 12.26 and 5.70.

5.4 5.4 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Home Construction Price: 2,668.00 GBX Report Date: September 30, 2021 Dividends Data

Dividends Per Share TTM 1.95 Payout Ratio TTM % 100.00% Dividend Yield TTM % 8.81%

Rate Ex Date Record Date Payment Date Currency Note 1.250 11-03-2021 12-03-2021 26-03-2021 GBP INTERIM GROSS 0.700 26-11-2020 27-11-2020 14-12-2020 GBP 2ND INTERIM GROSS 0.400 27-08-2020 28-08-2020 14-09-2020 GBP INTERIM GROSS 1.100 11-06-2020 12-06-2020 06-07-2020 GBP FINAL GROSS. COMPANY TO POSTPONE FINAL PAYMENT WITH INTENTION TO WITHDRAW RELEVANT… 1.250 05-03-2020 06-03-2020 02-04-2020 GBP INTERIM GROSS. BOARD HAS DECIDED TO CANCEL PAYMENT OF THE INTERIM DIVIDEND. 1.100 13-06-2019 14-06-2019 02-07-2019 GBP FINAL GROSS 1.250 07-03-2019 08-03-2019 29-03-2019 GBP INTERIM GROSS 1.100 14-06-2018 15-06-2018 02-07-2018 GBP FINAL GROSS 1.250 08-03-2018 09-03-2018 29-03-2018 GBP INTERIM GROSS 1.100 15-06-2017 16-06-2017 03-07-2017 GBP 2ND INTERIM GROSS 0.250 09-03-2017 10-03-2017 31-03-2017 GBP 1ST INTERIM GROSS 1.100 03-03-2016 04-03-2016 01-04-2016 GBP INTERIM NET

Dividend Growth and Yield

Dividends Per Share TTM Persimmon PLC's trailing 12- month dividend per share is Current: 1.95 Median: 2.35 High: 3.45 Low: 0.25 CAGR: 12.8% 1.95 and its dividend has 3.61 3.61 grown at a cumulative annualized rate of 12.8% over 3.02 3.02 the charted period. This compares to dividend growth 2.44 2.44 of -29.10% over the past year and cumulative annualized growth of -6.00% over the past 1.85 1.85 3 years.

1.26 1.26

0.68 0.68

0.09 0.09 2016 2017 2018 2019 2020 2021

Dividend Yield TTM % Persimmon PLC's current dividend yield is 8.81% based Current: 8.81 Median: 9.42 High: 14.48 Low: 1.02 CAGR: 7.1% on trailing 12 month 15.15 15.15 dividends. The current yield is below the historically observed 12.69 12.69 median of 9.42% and, over the charted time period, the 10.22 10.22 observed high yield has been 14.48% and the observed low yield has been 1.02%. 7.75 7.75

5.28 5.28

2.81 2.81

0.35 0.35 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Home Construction Price: 2,668.00 GBX Report Date: September 30, 2021 ICB Subsector Peer Comparisons

Price Change Year to Date % Price Change Last Calendar Year % -11.6 -0.7 10.2 21.1 32.1 -36.0 -25.9 -15.7 -5.6 4.5

Vistry Group PLC 30.1 Countryside Properties PLC (New) 2.7 Glenveagh Properties Plc 29.5 Persimmon PLC 2.7 Crest Nicholson Holdings PLC 17.6 Glenveagh Properties Plc -1.6 Redrow Plc 16.8 Berkeley Group Holdings Plc -2.4 Bellway PLC 11.0 Barratt Developments plc -10.3 Peer Group Average 9.7 Peer Group Average -13.5 Countryside Properties PLC (New) 8.2 Taylor Wimpey Plc -14.3 Cairn Homes Plc 5.0 Bellway PLC -22.4 Berkeley Group Holdings Plc 0.2 Redrow Plc -23.3 Barratt Developments plc -1.4 Cairn Homes Plc -23.9 Persimmon PLC -3.6 Crest Nicholson Holdings PLC -24.5 Taylor Wimpey Plc -6.0 Vistry Group PLC -30.8 -11.6 -0.7 10.2 21.1 32.1 -36.0 -25.9 -15.7 -5.6 4.5

Price / EPS TTM Price / Book Value 0.0 26.1 52.3 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) 2.4 Berkeley Group Holdings Plc 66.0 Persimmon PLC 2.4 Peer Group Average 36.1 Peer Group Average 2.2 Glenveagh Properties Plc 27.8 Taylor Wimpey Plc 1.5 Bellway PLC 21.0 Redrow Plc 1.5 Redrow Plc 20.4 Vistry Group PLC 1.4 Barratt Developments plc 17.0 Barratt Developments plc 1.4 Persimmon PLC 13.4 Bellway PLC 1.4 Cairn Homes Plc 12.6 Glenveagh Properties Plc 1.4 Vistry Group PLC 12.1 Crest Nicholson Holdings PLC 1.2 Taylor Wimpey Plc 7.6 Cairn Homes Plc 1.0 0.0 26.1 52.3 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: 2,668.00 GBX Report Date: September 30, 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: 2,668.00 GBX Report Date: September 30, 2021

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