M Winkworth PLC (WINK:LN)

Real Estate/Real Estate Services Price: 210.00 GBX Report Date: September 24, 2021 Business Description and Key Statistics

M Winkworth is engaged in the franchising of estate agency sales, Current YTY % Chg residential lettings and property management services under the brand name Winkworth in the United Kingdom. Revenue LFY (M) 6 7.3 EPS Diluted LFY 0.10 10.2 Market Value (M) 27 Shares Outstanding LFY (000) 12,733 Book Value Per Share 0.39 EBITDA Margin % 33.90

Net Margin % 20.0 Website: www.winkworthplc.com Long-Term Debt / Capital % 0.0 ICB Industry: Real Estate Dividends and Yield TTM 0.07 - 3.43% ICB Subsector: Real Estate Services Payout Ratio TTM % 75.5 Address: 4th Floor;1 Lumley Street London 60-Day Average Volume (000) 3 GBR 52-Week High & Low 214.00 - 127.50 Employees: 44 Price / 52-Week High & Low 0.98 - 1.65

Price, Moving Averages & Volume

218.3 218.3 M Winkworth PLC is currently trading at 210.00 which is 5.8% above its 50 day moving 206.4 206.4 average price of 198.50 and 20.9% above its 200 day 194.5 194.5 moving average price of 173.63.

182.6 182.6 WINK:LN is currently 1.9% below its 52-week high price of 214.00 and is 64.7% above its 170.8 170.8 52-week low price of 127.50. Over the past 52-weeks, 158.9 158.9 WINK:LN is up 64.7% while on a calendar year-to-date basis it is up 47.4%. 147.0 147.0 The Relative Strength Index (RSI) indicator for WINK:LN is 135.1 135.1 currently 69.7. An RSI value of 70 and above is considered 123.2 123.2 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) 163 163

122 122

81 81

41 41

Mean (3.65) 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)

Real Estate/Real Estate Services Price: 210.00 GBX Report Date: September 24, 2021 Price Performance, Technical Indicators & Risk Metrics

Difference Price Performance % Change vs FTSE 350 Technical Indicators 1-Day % 0.00 0.48 50-Day Average Price 198.50 1-Week % 1.45 1.19 Price / 50-Day Average 1.06 4-Week % 10.53 11.95 200-Day Average Price 173.63 52-Week % 64.71 40.36 Price / 200-Day Average 1.21 RSI - Relative Strength Index 69.70 Quarter-to-Date % 9.09 7.96

Year-to-Date % 47.37 37.15 Risk Metrics Last Month % -3.55 -5.47 Price Volatility 9.20 Last Quarter % 24.19 19.52 Sharpe Ratio 0.15 Last Calendar Year % 9.62 22.61 Sortino Ratio 0.26

5-Year Price Performance vs. FTSE 350

M Winkworth PLC Current: 1.90 CAGR: 13.7% Over the past five years, M FTSE 350 Index Current: 1.18 CAGR: 3.4% Winkworth PLC's stock price is up 90.0% which is 71.6% 2.0 2.0 above the FTSE 350 Index performance of 18.4% over the WINK:LN same period. M Winkworth 1.9 1.9 PLC's cumulative annualized growth rate (CAGR) over the 1.8 1.8 five year period has been 13.7% while that of the FTSE 350 Index has been 3.4%. 1.7 1.7 Over the past year, M Winkworth PLC's stock price 1.6 1.6 performance of 64.7% has outperformed that of the FTSE 1.5 1.5 350 Index by 40.4%. On a year-to-date basis, M Winkworth PLC's stock price 1.4 1.4 performance of 47.4% has outperformed the FTSE 350 1.3 1.3 Index by 37.2%. Over the past week, M ^NMX:LN 1.2 1.2 Winkworth PLC's stock price performance of 1.5% has outperformed that of the FTSE 1.1 1.1 350 Index by 1.2%.

1.0 1.0

0.9 0.9

0.8 0.8 2017 2018 2019 2020 2021 2022

Real Estate/Real Estate Services Price: 210.00 GBX Report Date: September 24, 2021 Growth and Profitability Metrics

5-Year 10-Year Historical Growth 3-Year 5-Year 10-Year Profitability Current Average Average Revenues % 4.8 3.1 Gross Margin % 79.4 77.2 Revenues Per Share % 4.8 3.2 EBITDA Margin % 33.9 33.6 EBITDA % 8.3 0.9 Pre-Tax Margin % 25.4 28.7 EPS Diluted % 4.4 -3.1 Net Margin % 20.0 22.1 Free Cash Flow % 26.7 23.2 Return on Equity % 27.0 27.3 Cash from Operations % 21.9 21.8 Return on Capital % 26.9 27.3 Book Value % -3.0 1.1 Return on Assets % 22.0 23.3

Revenue (M) M Winkworth PLC's cumulative annualized revenue Current: 6.42 Median: 5.77 High: 6.42 Low: 5.42 CAGR: 4.8% growth rate over the charted 6.6 6.6 6.4 period is 4.8%. This compares to cumulatative annualized 6.2 6.2 growth of 4.8% over the past 3 6.0 years. 5.8 5.8 5.6 5.4 5.4 5.4 2016 2017 2018 2019 2020 2021 M Winkworth PLC's EPS Diluted cumulative annualized EPS Current: 0.10 Median: 0.09 High: 0.10 Low: 0.09 CAGR: 3.6% growth rate over the charted 0.102 0.102 period is 3.6%. This compares 0.100 to cumulatative annualized 0.098 0.098 growth of 4.4% over the past 3 years. 0.094 0.094 0.090 0.090 0.090 0.090 0.090 2016 2017 2018 2019 2020 2021

Net Profit Margin % M Winkworth PLC's net profit margin of 20.0% is 0.1% below Current: 19.99 Median: 20.05 High: 21.67 Low: 19.46 CAGR: -2.5% the period's mean net margin 21.8 21.8 of 20.1%. During the charted period, the observed net profit 21.0 21.0 margin high and low were 21.7% and 19.5% respectively. 20.2 Mean (20.09) 20.2

19.3 19.3 2016 2017 2018 2019 2020 2021 M Winkworth PLC's return on Return on Equity % equity of 27.0% is 4.8% above Current: 27.00 Median: 21.05 High: 27.00 Low: 20.00 CAGR: 4.6% the period's mean return on 27.4 27.4 equity of 22.2%. During the charted period, the observed 24.8 24.8 ROE high and low were 27.0% and 20.0% respectively. 22.2 Mean (22.16) 22.2

19.7 19.7 2016 2017 2018 2019 2020 2021

Real Estate/Real Estate Services Price: 210.00 GBX Report Date: September 24, 2021 Valuation Metrics

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

Price / EPS TTM 20.9 12.7 12.9 Earnings Yield % 8.46 7.95

Price / Sales 4.2 2.5 2.7 Free Cash Flow Yield % 7.52 11.04 8.31

Price / Operating Cash Flow 14.4 9.7 9.9 Dividend Yield % 3.43 6.26 5.58

Price / Book Value 5.4 3.0 3.4 Enterprise Value / EBITDA 10.6 6.6 6.8

Price / EPS TTM M Winkworth PLC is trading at 20.85 times its EPS generated Current: 20.85 Median: 12.70 High: 20.85 Low: 9.43 CAGR: 14.4% during the latest fiscal year. 21.4 21.4 This multiple is above the historically observed median 17.2 17.2 of 12.70, while high and low observations have been 20.85 and 9.43. 13.0 Median (12.70) 13.0

8.9 8.9 2016 2017 2018 2019 2020 2021 Price / Sales M Winkworth PLC is trading at a Price to Sales ratio of 4.17 Current: 4.17 Median: 2.53 High: 4.17 Low: 1.89 CAGR: 11.2% based on sales generated 4.28 4.28 during the latest fiscal year. This ratio is above the 3.45 3.45 historically observed median ratio of 2.53, while high and low observations have been 2.61 Median (2.53) 2.61 4.17 and 1.89.

1.78 1.78 2016 2017 2018 2019 2020 2021 M Winkworth PLC is trading at Price / Book Value a Price to Book ratio of 5.37 Current: 5.37 Median: 3.00 High: 5.37 Low: 2.25 CAGR: 15.0% based on book value at the 5.5 5.5 latest fiscal year end. This ratio is above the historically observed median of 3.00, 4.4 4.4 while high and low observations have been 5.37 3.2 Median (3.00) 3.2 and 2.25.

2.1 2.1 2016 2017 2018 2019 2020 2021 M Winkworth PLC has a Free Free Cash Flow Yield % Cash Flow Yield of 7.52% Current: 7.52 Median: 11.04 High: 16.62 Low: 7.52 CAGR: -2.7% based on free cash flow 17.1 17.1 generated during the latest fiscal year. This value is below the historically observed 13.7 13.7 median yield of 11.04%, while Median (11.04) high and low observations 10.4 10.4 have been 16.62 and 7.52.

7.1 7.1 2016 2017 2018 2019 2020 2021

Real Estate/Real Estate Services Price: 210.00 GBX Report Date: September 24, 2021 Dividends Data

Dividends Per Share TTM 0.07 Payout Ratio TTM % 75.47% Dividend Yield TTM % 3.43%

Rate Ex Date Record Date Payment Date Currency Note 0.022 22-04-2021 23-04-2021 20-05-2021 GBP QUARTERLY GROSS 0.018 21-01-2021 22-01-2021 18-02-2021 GBP QUARTERLY GROSS 0.018 22-10-2020 23-10-2020 19-11-2020 GBP QUARTERLY GROSS 0.014 23-07-2020 24-07-2020 20-08-2020 GBP QUARTERLY GROSS 0.017 23-04-2020 24-04-2020 21-05-2020 GBP QUARTERLY GROSS 0.021 23-01-2020 24-01-2020 20-02-2020 GBP QUARTERLY GROSS 0.019 24-10-2019 25-10-2019 21-11-2019 GBP QUARTERLY GROSS 0.019 25-07-2019 26-07-2019 22-08-2019 GBP QUARTERLY GROSS 0.019 25-04-2019 26-04-2019 23-05-2019 GBP QUARTERLY GROSS 0.019 24-01-2019 25-01-2019 25-02-2019 GBP QUARTERLY GROSS 0.019 25-10-2018 26-10-2018 22-11-2018 GBP QUARTERLY GROSS 0.019 26-07-2018 27-07-2018 23-08-2018 GBP QUARTERLY GROSS

Dividend Growth and Yield

Dividends Per Share TTM M Winkworth PLC's trailing 12- month dividend per share is Current: 0.07 Median: 0.07 High: 0.09 Low: 0.07 CAGR: -5.2% 0.07 and its dividend has 0.091 0.091 grown at a cumulative annualized rate of -5.2% over 0.087 0.087 the charted period. This compares to dividend growth 0.084 0.084 of -5.00% over the past year and cumulative annualized growth of -0.50% over the past 0.080 0.080 3 years.

0.076 0.076

0.073 0.073

0.069 0.069 2016 2017 2018 2019 2020 2021

Dividend Yield TTM % M Winkworth PLC's current dividend yield is 3.43% based Current: 3.43 Median: 6.26 High: 8.83 Low: 3.34 CAGR: -14.9% on trailing 12 month 9.10 9.10 dividends. The current yield is below the historically observed 8.10 8.10 median of 6.26% and, over the charted time period, the 7.09 7.09 observed high yield has been 8.83% and the observed low yield has been 3.34%. 6.08 6.08

5.08 5.08

4.07 4.07

3.07 3.07 2016 2017 2018 2019 2020 2021

Real Estate/Real Estate Services Price: 210.00 GBX Report Date: September 24, 2021 ICB Subsector Peer Comparisons

Price Change Year to Date % Price Change Last Calendar Year % -60.1 -25.6 8.9 43.4 77.9 -55.3 -20.6 14.2 48.9 83.6

Belvoir Group PLC 71.6 OnTheMarket PLC 77.3 LSL Property Services PLC 52.9 M Winkworth PLC 9.6 M Winkworth PLC 47.4 Belvoir Group PLC 6.7 Savills PLC 44.5 LSL Property Services PLC 6.2 Property Franchise Group PLC (The) 44.4 Rightmove Plc, Winterhill 2.7 Peer Group Average 21.9 Peer Group Average 1.4 Fletcher King PLC 20.0 Property Franchise Group PLC (The) -5.5 Rightmove Plc, Winterhill 10.5 Fletcher King PLC -11.8 Foxtons Group Plc -5.4 Savills PLC -15.9 OnTheMarket PLC -24.0 PurpleBricks Group PLC -17.6 PurpleBricks Group PLC -42.4 Foxtons Group Plc -37.5

-60.1 -25.6 8.9 43.4 77.9 -55.3 -20.6 14.2 48.9 83.6

Price / EPS TTM Price / Book Value 0.0 26.0 51.9 77.9 103.9 0.0 13.1 26.2 39.3 52.3

Foxtons Group Plc 99.9 Rightmove Plc, Winterhill 49.9 Fletcher King PLC 99.9 Peer Group Average 7.8 Peer Group Average 40.0 M Winkworth PLC 5.4 Rightmove Plc, Winterhill 36.9 Property Franchise Group PLC (The) 4.1 LSL Property Services PLC 28.3 OnTheMarket PLC 4.1 OnTheMarket PLC 27.8 Savills PLC 3.8 Savills PLC 23.5 Belvoir Group PLC 3.7 Property Franchise Group PLC (The) 22.6 LSL Property Services PLC 2.9 M Winkworth PLC 20.9 PurpleBricks Group PLC 2.1 PurpleBricks Group PLC 20.3 Foxtons Group Plc 1.2 Belvoir Group PLC 20.2 Fletcher King PLC 1.0

0.0 26.0 51.9 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: 210.00 GBX Report Date: September 24, 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: 210.00 GBX Report Date: September 24, 2021

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