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Shaftesbury Capital PLC (SHC) Fair Value & Analysis

Real Estate · GB · Market cap 2.8B GBX · ISIN GB00B62G9D36

What is Shaftesbury Capital PLC really worth?

SC Shaftesbury Capital PLC SHC · LSE
Price£1.47
Fair Value£0.9500
Upside−35.2%
Quality50/100

A solid business, but trading 54% above our fair value of £0.9500.

As of Aug 30, 2026, the fair value of Shaftesbury Capital PLC is £0.9500 per share against a price of £1.47, so the fair value sits 35% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Highly profitable · 142.4% net margin
Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +26.3 %/yr)
!Mixed vs. peers (6/15)
!Moderate moat 62/100
!The models disagree: range £0.6300 to £1.86

For context

·2.93% dividend yield
Evidence: High Range £0.6300 – £1.86

Fair value as of: Aug 30, 2026

From 16 valuation models · updated 7 days ago

Share price +0.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The model range is unusually wide (£0.6300 to £1.86). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

£1.61 £0.8713 Fair Value £0.9500 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.

How to read this chart

60‑month range £0.8713 – £1.61 · fair‑value band £0.6300 – £1.86 · the £1.47 price screens above the £0.9500 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 30, 2026.

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Analysis

Shaftesbury Capital PLC (SHC) currently trades at £1.47, while our model-based Fair Value estimate is £0.9500, implying the stock looks roughly 54.4% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Real Estate sector. Bull case: the Economic Profit group reads highest at a median of £1.94 per share, and 2 of the 16 models we run sit above the £1.47 price. Bear case: the Dividend Discount group reads lowest at £0.5500, and 14 of the 16 models stay below the price. Evidence for this calculation is high.

Trailing-twelve-month revenue stands at £239M. Revenue grew 7.3% year over year. It earns a return on equity of 9.4%. Net debt stands at £1.2B. Fundamentals as of Aug 30, 2026

Our scenario range runs from £0.6300 (bear case) to £1.86 (bull case); at £1.47, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Real Estate peers we cover trades at −51% fair-value upside, at −35%, SHC screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly £0.1003 per share, which is 10.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence £1.80 £1.94 £2.32 76
Growth DCF £0.4100 £1.19 £2.34 73
FCF DCF £0.4400 £1.15 £2.72 72
All 16 models by family
DCF Models
FCF DCF £0.4400 £1.15 £2.72 72
5Y Revenue Exit £0.2400 £0.7700 £1.51 67
5Y EBITDA Exit £0.3700 £1.04 £1.93 70
10Y Revenue Exit £0.2800 £0.8100 £1.69 61
10Y EBITDA Exit £0.3800 £1.02 £2.05 63
Dividend Discount
Gordon GGM £0.3200 £0.6400 £0.9700 67
DDM Multi-Stage £0.3200 £0.5500 £0.6800 67
Multiples
P/S Multiple £0.6300 £0.8400 £1.05 58
P/B Multiple £2.38 £3.17 £3.97 55
EV/EBIT £0.6100 £0.9500 £1.29 65
EV/EBITDA £0.3800 £0.6500 £0.9100 65
EV/Revenue £0.1500 £0.3900 £0.6300 50
Asset-Based
NCAV (Graham) £1.08 £1.45 £2.17 54
Growth DCF
Growth DCF £0.4100 £1.19 £2.34 73
Rev-Margin DCF £0.2400 £0.7600 £1.45 67
Economic Profit
Residual Income best evidence £1.80 £1.94 £2.32 76

Widest divergence: Economic Profit (£1.94) versus Dividend Discount (£0.5500). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 7.7
P/S ratio 11.2 P/E × margin
EPS (TTM) £0.1900 price ÷ EPS = P/E 7.7
Dividend yield 2.9% payout 22.6%
Net margin 145% FY2025
Return on equity 9.4% TTM
More key figures
Profitability
Return on assets (EBIT) 0.7% avg 5y
Operating margin 56.2% TTM
Growth
Revenue (TTM) £239M TTM
Revenue growth (YoY) +7.3% 3y avg +38.9%
EPS growth (YoY) +12.1%
Balance sheet & cash flow
Free cash flow 116M GBX FY2025
Net debt 1.2B GBX FY2025 · ≈ 10.3 yrs of FCF

Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 50 · Market factors (momentum, volatility) 57

Profitability 38
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 53
Distance to the 52-week high (market factor)
Net Issuance 38
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Shaftesbury Capital PLC is the leading central London mixed-use REIT and is a constituent of the FTSE-250 Index. Our property portfolio under management, valued at 5.4 billion pounds, extends to 2.8 million square feet of lettable space across the most vibrant areas of London's West End.

Full company description

Shaftesbury Capital PLC is the leading central London mixed-use REIT and is a constituent of the FTSE-250 Index. Our property portfolio under management, valued at 5.4 billion pounds, extends to 2.8 million square feet of lettable space across the most vibrant areas of London's West End. With a diverse mix of shops, restaurants, cafés, bars, residential apartments and offices, our destinations include the high footfall, thriving neighborhoods of Covent Garden, Carnaby, Soho and Chinatown. Our properties are close to the main West End Underground stations and transport hubs for the Elizabeth Line. Shaftesbury Capital shares are listed on the London Stock Exchange (primary) and the Johannesburg Stock Exchange (secondary) and the A2X (secondary). Shaftesbury Capital PLC was incorporated on February 3rd, 2010 in United Kingdom.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shaftesbury Capital PLC reported revenue of £235M in FY2025 versus £75.3M in FY2021, a compound +32.8%/yr. Reported net income was £340M in FY2025, compounding +76.8%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Growth Quality 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
£235M
Latest YoY
+3.3%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+38.9%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+26.3%
Avg. revenue growth/yr (9Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+38.2% · in GBP
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+35.3%
Dividend yield2.9%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 35.3% vs 10Y 19.4%, picking up
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.36.8% (2020) → 48.2% (2025) · rising
Worst earnings drop1,465% (2020) (loss year, drop beyond 100%) · in GBP
Revenue +32.8%/yr
FY21 £75.3M
FY22 £87.6M
FY23 £198M
FY24 £227M
FY25 £235M
Net income +76.8%/yr
FY21 £34.8M
FY22 −£212M
FY23 £750M
FY24 £252M
FY25 £340M

SHC screens 54% overvalued. Compare with Simon Property Group →

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Cite: Fair Value Calculator (2026). "Shaftesbury Capital PLC Fair Value". https://www.fairvalue-calculator.com/stock/SHC.LSE

Peer Group

REIT - Retail · 94 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 50 · Below median
Fair Value upside −35% · Below median
Return on equity (TTM) 9% · Above median
Return on assets 2% · Bottom 25%
Net margin (TTM) 142% · Top 25%
Operating margin (TTM) 56% · Below median
Revenue growth 7% · Above median
Dividend yield (TTM) 2.9% · Bottom 25%
Debt / equity 0.20× · Lower than 75% of peers

Valuation Multiples vs REIT - Retail median · lower = cheaper

P/E (TTM) 7.7× · Cheaper than 75% of peers
P/B 0.95× · Cheaper than median
P/S (TTM) 15.67× · Pricier than 75% of peers
P/FCF 32.2× · Pricier than 75% of peers
EV/EBITDA 32.8× · Pricier than 75% of peers
PEG 30.88× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 15
FUTURE37 · sector 22
PAST38 · sector 30
HEALTH90 · sector 67
DIVIDEND59 · sector 100

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more REIT - Retail stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).

Stock Price Fair Value vs Fair Value
Simon Property Group SPG $212.32 $84.26 −60%
Realty Income Corporation O $61.98 $30.45 −51%
Unibail-Rodamco-Westfield SE URW €103.40 €98.09 −5%
Kimco Realty Corporation KIM $23.71 $12.49 −47%
CapitaLand Integrated Commercial Trust (CICT or the Trust) C38U 2.38 SGD 0.9100 SGD −62%
Scentre Group SCG A$3.56 A$3.34 −6%
Regency Centers Corporation REG $75.92 $33.37 −56%
Link Real Estate Investment Trust (Link REIT) 0823 HK$39.76 HK$41.98 +6%
Federal Realty Investment Trust FRT $116.75 $41.47 −64%
Brixmor Property Group BRX $29.50 $12.34 −58%

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Frequently asked questions

Is Shaftesbury Capital PLC (SHC) overvalued or undervalued?
As of Aug 30, 2026, our model estimates a fair value of £0.9500 versus a price of £1.47, about −35% upside (overvalued).
What is the fair value of SHC?
Our model-based fair value for Shaftesbury Capital PLC is £0.9500 (as of Aug 30, 2026), built from audited fundamentals. The current price: £1.47.
What is the quality score of SHC?
Shaftesbury Capital PLC has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Shaftesbury Capital PLC (SHC)?
Our model-based price target is the fair value of £0.9500 (as of Aug 30, 2026) from 16 valuation models. Cautious scenario £0.6300, optimistic scenario £1.86. It is a calculation from audited fundamentals, not an analyst target.
What is the Shaftesbury Capital PLC stock forecast for 2026?
Our models put fair value at £0.9500, about −35% upside versus a price of £1.47 (overvalued). Cautious scenario £0.6300, optimistic scenario £1.86. The calculation is refreshed regularly with new filings.
What is the revenue of Shaftesbury Capital PLC (SHC)?
Shaftesbury Capital PLC reported trailing-twelve-month revenue of about £239M (latest available figure, as of Aug 30, 2026).
What is the net profit margin of SHC?
The net profit margin of Shaftesbury Capital PLC is about 142.4%, meaning it keeps roughly 142.4% of revenue as net income. Based on the latest reported figures.
Does Shaftesbury Capital PLC pay a dividend?
Shaftesbury Capital PLC currently shows a dividend yield of about 2.93% relative to its recent price (as of Aug 30, 2026).
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