Barratt Developments Plc (BDEV:LN)

Consumer Discretionary/Home Construction Price: 690.60 GBX Report Date: September 22, 2021 Business Description and Key Statistics

Barratt Developments is engaged in housebuilding and commercial Current YTY % Chg development. Co. has the following housebuilding brands, Barratt Homes, David Wilson Homes and Barratt London. Commercial Revenue LFY (M) 3,419 -28.2 developments are delivered by Co.'s subsidiary, Wilson Bowden EPS Diluted LFY 0.39 -46.2 Developments Limited. Market Value (M) 7,000 Shares Outstanding LFY (000) 1,013,594 Book Value Per Share 4.77 EBITDA Margin % 15.00

Net Margin % 11.7 Website: www.barrattdevelopments.co.uk Long-Term Debt / Capital % 4.0 ICB Industry: Consumer Discretionary Dividends and Yield TTM 0.08 - 1.09% ICB Subsector: Home Construction Payout Ratio TTM % 100.0 Address: Kent House;1st Floor;14 - 17 Market Place London 60-Day Average Volume (000) 2,212 GBR 52-Week High & Low 794.80 - 432.60 Employees: 6,632 Price / 52-Week High & Low 0.87 - 1.60

Price, Moving Averages & Volume

811.9 811.9 Barratt Developments plc is currently trading at 690.60 which is 2.3% below its 50 day 764.9 764.9 moving average price of 706.53 and 3.6% below its 200 717.8 717.8 day moving average price of 716.34.

670.8 670.8 BDEV:LN is currently 13.1% below its 52-week high price of 794.80 and is 59.6% above its 623.8 623.8 52-week low price of 432.60. Over the past 52-weeks, 576.7 576.7 BDEV:LN is up 59.6% while on a calendar year-to-date basis it is up 3.1%. 529.7 529.7 The Relative Strength Index (RSI) indicator for BDEV:LN is 482.6 482.6 currently 45.76. An RSI value of 70 and above is considered 435.6 435.6 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) 19,102 19,102

14,331 14,331

9,560 9,560

4,789 Mean (3492.56) 4,789

18 18 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: 690.60 GBX Report Date: September 22, 2021 Price Performance, Technical Indicators & Risk Metrics

Difference Price Performance % Change vs FTSE 350 Technical Indicators 1-Day % 0.70 -0.38 50-Day Average Price 706.53 1-Week % 1.53 2.21 Price / 50-Day Average 0.98 4-Week % -5.27 -3.70 200-Day Average Price 716.34 52-Week % 59.64 36.44 Price / 200-Day Average 0.96 RSI - Relative Strength Index 45.76 Quarter-to-Date % -0.66 -0.97

Year-to-Date % 3.07 -6.25 Risk Metrics Last Month % 5.03 3.11 Price Volatility 22.28 Last Quarter % -6.91 -11.58 Sharpe Ratio 0.10 Last Calendar Year % -10.26 2.73 Sortino Ratio 0.16

5-Year Price Performance vs. FTSE 350

Barratt Developments plc Current: 1.40 CAGR: 6.9% Over the past five years, FTSE 350 Index Current: 1.17 CAGR: 3.3% Barratt Developments plc's stock price is up 39.7% which 1.8 1.8 is 22.3% above the FTSE 350 Index performance of 17.4% over the same period. Barratt 1.7 1.7 Developments plc's cumulative annualized growth rate 1.6 1.6 (CAGR) over the five year period has been 6.9% while that of the FTSE 350 Index 1.5 1.5 has been 3.3%.

Over the past year, Barratt 1.4 1.4 Developments plc's stock price BDEV:LN performance of 59.6% has 1.4 1.4 outperformed that of the FTSE 350 Index by 36.4%. On a year-to-date basis, Barratt 1.3 1.3 Developments plc's stock price performance of 3.1% has 1.2 ^NMX:LN 1.2 outperformed the FTSE 350 Index by 6.3%.

1.1 1.1 Over the past week, Barratt Developments plc's stock price performance of 1.5% has 1.0 1.0 outperformed that of the FTSE 350 Index by 2.2%. 0.9 0.9

0.8 0.8

0.7 0.7 2016 2017 2018 2019 2020 2021 2022

Consumer Discretionary/Home Construction Price: 690.60 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 % -9.7 -1.9 5.3 Gross Margin % 18.0 20.5 17.8 Revenues Per Share % -10.1 -2.3 -4.1 EBITDA Margin % 15.0 17.4 14.2 EBITDA % -13.9 -2.4 22.2 Pre-Tax Margin % 13.6 16.3 11.9 EPS Diluted % -13.8 -2.7 999.9 Net Margin % 11.7 13.7 10.0 Free Cash Flow % -100.0 -100.0 -100.0 Return on Equity % 8.1 14.0 10.2 Cash from Operations % -99.9 -99.9 -99.9 Return on Capital % 7.9 13.7 9.9 Book Value % 3.7 5.1 4.7 Return on Assets % 5.6 9.2 6.7

Revenue (M) Barratt Developments plc's cumulative annualized revenue Current: 3419.20 Median: 4706.65 High: 4874.80 Low: 3419.20 CAGR: -9.7% growth rate over the charted 5,165.9 5,165.9 4,874.8 period is -9.7%. This 4,763.1 4,650.2 compares to cumulatative 4,559.4 4,559.4 annualized growth of -9.7% over the past 3 years. 3,952.9 3,952.9 3,419.2 3,346.4 3,346.4 2016 2017 2018 2019 2020 2021 Barratt Developments plc's EPS Diluted cumulative annualized EPS Current: 0.39 Median: 0.64 High: 0.72 Low: 0.39 CAGR: -13.8% growth rate over the charted 0.79 0.79 period is -13.8%. This 0.72 compares to cumulatative 0.66 0.65 0.61 0.65 annualized growth of -13.8% over the past 3 years. 0.51 0.51 0.39 0.37 0.37 2016 2017 2018 2019 2020 2021

Net Profit Margin % Barratt Developments plc's net profit margin of 11.7% is 2.0% Current: 11.66 Median: 13.54 High: 15.50 Low: 11.66 CAGR: -2.9% below the period's mean net 15.7 15.7 margin of 13.7%. During the charted period, the observed 14.3 14.3 Mean (13.70) net profit margin high and low were 15.5% and 11.7% 12.9 12.9 respectively.

11.5 11.5 2016 2017 2018 2019 2020 2021 Barratt Developments plc's Return on Equity % return on equity of 8.1% is Current: 8.10 Median: 15.00 High: 15.70 Low: 8.10 CAGR: -14.4% 5.9% below the period's mean 16.1 16.1 return on equity of 14.0%. Mean (14.04) During the charted period, the 13.3 13.3 observed ROE high and low were 15.7% and 8.1% respectively. 10.5 10.5

7.7 7.7 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Home Construction Price: 690.60 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 17.8 9.7 12.8 Earnings Yield % 6.18 11.02 8.26

Price / Sales 2.1 1.3 1.3 Free Cash Flow Yield % 0.00 6.26 6.25

Price / Operating Cash Flow 17.0 9.7 12.6 Dividend Yield % 1.09 6.86

Price / Book Value 1.5 1.3 1.3 Enterprise Value / EBITDA 13.1 6.7 9.0

Price / EPS TTM Barratt Developments plc is trading at 17.75 times its EPS Current: 17.75 Median: 9.71 High: 20.43 Low: 6.53 CAGR: 14.4% generated during the latest 21.1 21.1 fiscal year. This multiple is above the historically observed 16.0 16.0 median of 9.71, while high and low observations have been 20.43 and 6.53. 10.9 Median (9.71) 10.9

5.8 5.8 2016 2017 2018 2019 2020 2021 Price / Sales Barratt Developments plc is trading at a Price to Sales ratio Current: 2.07 Median: 1.32 High: 2.38 Low: 0.92 CAGR: 11.9% of 2.07 based on sales 2.45 2.45 generated during the latest fiscal year. This ratio is above 1.92 1.92 the historically observed median ratio of 1.32, while high and low observations 1.38 Median (1.32) 1.38 have been 2.38 and 0.92.

0.85 0.85 2016 2017 2018 2019 2020 2021 Barratt Developments plc is Price / Book Value trading at a Price to Book ratio Current: 1.45 Median: 1.32 High: 1.81 Low: 0.80 CAGR: 3.2% of 1.45 based on book value at 1.9 1.9 the latest fiscal year end. This ratio is above the historically observed median of 1.32, 1.5 1.5 Median (1.32) while high and low observations have been 1.81 1.1 1.1 and 0.80.

0.7 0.7 2016 2017 2018 2019 2020 2021 Barratt Developments plc has Free Cash Flow Yield % a Free Cash Flow Yield of Current: 0.00 Median: 6.26 High: 12.96 Low: 0.00 CAGR: 0.0% 0.00% based on free cash flow 13.6 13.6 generated during the latest fiscal year. This value is below the historically observed 8.9 8.9 median yield of 6.26%, while Median (6.26) high and low observations 4.1 4.1 have been 12.96 and 0.00.

-0.6 -0.6 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Home Construction Price: 690.60 GBX Report Date: September 22, 2021 Dividends Data

Dividends Per Share TTM 0.08 Payout Ratio TTM % 100.00% Dividend Yield TTM % 1.09%

Rate Ex Date Record Date Payment Date Currency Note 0.075 15-04-2021 16-04-2021 10-05-2021 GBP INTERIM GROSS 0.098 16-04-2020 17-04-2020 11-05-2020 GBP THE BOARD HAS DECIDED TO CANCEL THE INTERIM DIVIDEND 0.173 10-10-2019 11-10-2019 05-11-2019 GBP SPECIAL GROSS 0.195 10-10-2019 11-10-2019 05-11-2019 GBP FINAL GROSS 0.096 11-04-2019 12-04-2019 07-05-2019 GBP INTERIM GROSS 0.179 11-10-2018 12-10-2018 06-11-2018 GBP FINAL GROSS 0.173 11-10-2018 12-10-2018 06-11-2018 GBP SPECIAL GROSS 0.086 19-04-2018 20-04-2018 18-05-2018 GBP INTERIM GROSS 0.171 26-10-2017 27-10-2017 20-11-2017 GBP FINAL GROSS 0.173 26-10-2017 27-10-2017 20-11-2017 GBP SPECIAL GROSS 0.073 20-04-2017 21-04-2017 19-05-2017 GBP INTERIM GROSS 0.123 27-10-2016 28-10-2016 21-11-2016 GBP FINAL GROSS

Dividend Growth and Yield

Dividends Per Share TTM Barratt Developments plc's trailing 12-month dividend per Current: 0.08 Median: 0.43 High: 0.47 Low: 0.08 CAGR: -22.0% share is 0.08 and its dividend 0.49 0.49 has grown at a cumulative annualized rate of -22.0% over 0.42 0.42 the charted period. This compares to dividend growth 0.35 0.35 of -83.90% over the past year and cumulative annualized growth of -44.10% over the 0.28 0.28 past 3 years.

0.20 0.20

0.13 0.13

0.06 0.06 2016 2017 2018 2019 2020 2021

Dividend Yield TTM % Barratt Developments plc's current dividend yield is 1.09% Current: 1.09 Median: 6.87 High: 12.07 Low: 1.02 CAGR: -27.3% based on trailing 12 month 12.62 12.62 dividends. The current yield is below the historically observed 10.60 10.60 median of 6.87% and, over the charted time period, the 8.57 8.57 observed high yield has been 12.07% and the observed low yield has been 1.02%. 6.55 6.55

4.52 4.52

2.49 2.49

0.47 0.47 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Home Construction Price: 690.60 GBX Report Date: September 22, 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: 690.60 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%.

Consumer Discretionary/Home Construction Price: 690.60 GBX Report Date: September 22, 2021

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