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olivLaw · European equity research

HOME REIT plc HOME.L

United Kingdom · London Stock Exchange · Vertical: Listed companies from United Kingdom

0.08GBP−0.61% · 1 dayClose 05 Nov 2026

HOME REIT plc is a real estate investment company in an orderly managed wind-down, selling its portfolio of homes for vulnerable people with the aim of returning available capital to shareholders. Its relevance now lies in the broad asset sales, loans fully repaid in 2024, and litigation and an FCA investigation still open. The portfolio's value fell to 154.9 million GBP at 31 August 2025.

At the close of 05 Nov 2026, HOME REIT plc (HOME.L) stock was 0.08 GBP (−0.61% on the day), with market capitalisation 64.9 m GBP, beta -27.38, 52-week range 0.00–0.38 GBP.

Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.

Market cap
64.9 m GBP
shares as of 31 Aug 2025
P/E (TTM)
unavailable
Diluted EPS TTM -0.04 · TTM to 31 Aug 2025
E/P (TTM)
-47.20%
TTM to 31 Aug 2025
Dividend yield
unavailable
Beta (2y)
-27.38
Volatility (1y) 1,684%
52-week range
0.000.38

Price history

Loading chart…

Technical reading

RSI (14)
43.2
weak (30–45)
Bollinger (20, 2)
0.08 – 0.09
in the lower half of the band · %B 0.29 · band width 14.3%
SMA 50 / 200
0.09 / 0.21
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.00 / -0.00
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyEURO STOXX 50vs EURO STOXX 50Vertical median
1 month−7.3%−0.6%−6.7 pp—
3 months−15.5%−4.2%−11.3 pp—
6 months−4.7%+4.3%−9.0 pp—
Year to dateunavailable+7.5%unavailable—
1 yearunavailable+9.9%unavailable+5.8%
3 yearsunavailable+49.8%unavailable+26.3%
5 years−92.8%+42.8%−135.7 pp—
Max drawdown (1y)
−99.0%
24 Nov 2025 → 04 Dec 2025
Max drawdown (5y)
−100.0%
31 Dec 2021 → 13 Dec 2024
Compound annual growth (5y)
−41.0%
EURO STOXX 50 +7.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year20242025
Revenue38.0 m21.4 m
Revenue YoYunavailable−43.7%
Net income-25.2 m-30.6 m
Net income YoYunavailableunavailable
Diluted EPS-0.03-0.04
Diluted EPS YoYunavailableunavailable
net %-66.3%-143.3%
Free cash flowunavailableunavailable

Balance sheet & financial health

Fiscal year 2025 · 31 Aug 2025

Cash
9.6 m GBP
Financial debt
0 GBP
Net debt
-9.6 m GBP
Equity
161.1 m GBP
Total assets
168.0 m GBP
Debt / equity
0.00x
Current ratio
24.43x
ROE
-17.4%
ROA
-13.3%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (GBP)

Margins

Income statement · GBP

Revenue
2024
38.0 m
2025
21.4 m

esef· 18 Mar 2026verified

Operating income
2024
-21.2 m
2025
-30.2 m

esef· 18 Mar 2026verified

Interest expense
2024
3.6 m
2025
398.0 k

esef· 18 Mar 2026verified

Pre-tax income
2024
-25.2 m
2025
-30.6 m

esef· 18 Mar 2026verified

Income tax
2024
0
2025
0

esef· 18 Mar 2026verified

Net income
2024
-25.2 m
2025
-30.6 m

esef· 18 Mar 2026verified

Diluted EPS
2024
-0.03
2025
-0.04

esef· 18 Mar 2026verified

Balance sheet · GBP

Cash
2024
6.2 m
2025
9.6 m

esef· 18 Mar 2026verified

Receivables
2024
3.8 m
2025
3.2 m

esef· 18 Mar 2026verified

Current assets
2024
54.8 m
2025
168.0 m

esef· 18 Mar 2026verified

Total assets
2024
291.1 m
2025
168.0 m

esef· 18 Mar 2026verified

Accounts payable
2024
8.4 m
2025
6.9 m

esef· 18 Mar 2026verified

Short-term debt
2024
91.0 m
2025
0

esef· 18 Mar 2026verified

Current liabilities
2024
99.4 m
2025
6.9 m

esef· 18 Mar 2026verified

Total liabilities
2024
99.4 m
2025
6.9 m

esef· 18 Mar 2026verified

Equity
2024
191.7 m
2025
161.1 m

esef· 18 Mar 2026verified

Shares outstanding at year end
2024
791.4 m
2025
791.1 m

esef· 21 Apr 2026derived

Cash flow · GBP

Operating cash flow
2024
-19.4 m
2025
-16.9 m

esef· 18 Mar 2026verified

Investing cash flow
2024
26.7 m
2025
23.5 m

esef· 18 Mar 2026verified

Financing cash flow
2024
-1.9 m
2025
-3.2 m

esef· 18 Mar 2026verified

Computed indicators

Growth

Revenue growth (YoY)
-43.7%
computed by olivLawFY 2025
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
unavailable
input data missing
EBIT margin
-141.6%
computed by olivLawFY 2025
Net margin
-143.3%
computed by olivLawFY 2025
FCF margin
unavailable
input data missing

Returns

ROE
-17.4%
computed by olivLawFY 2025 · balance sheet at 31 Aug 2025
ROA
-13.3%
computed by olivLawFY 2025 · balance sheet at 31 Aug 2025
ROIC
-11.9%
computed by olivLawFY 2025 · balance sheet at 31 Aug 2025
ROCE
-18.8%
computed by olivLawFY 2025 · balance sheet at 31 Aug 2025
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
-9.6 m GBP
computed by olivLawbalance sheet at 31 Aug 2025
Net debt / EBITDA
unavailable
input data missing
Debt / equity
0.0x
computed by olivLawbalance sheet at 31 Aug 2025
Interest coverage
-76.0x
computed by olivLawFY 2025

Liquidity

Current ratio
24.4x
computed by olivLawbalance sheet at 31 Aug 2025
Quick ratio
unavailable
input data missing
Cash ratio
1.4x
computed by olivLawbalance sheet at 31 Aug 2025

Cash

Operating cash flow
-16.9 m GBP
computed by olivLawFY 2025
Capital expenditure
unavailable
input data missing
Free cash flow
unavailable
input data missing
FCF conversion
unavailable
input data missing
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
60 days
computed by olivLawFY 2025 · balance sheet at 31 Aug 2025
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
64.9 m GBP
computed by olivLawbalance sheet at 31 Aug 2025
Enterprise value
55.2 m GBP
computed by olivLawbalance sheet at 31 Aug 2025
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-47.2%
computed by olivLawFY 2025
P/B
0.4x
computed by olivLawbalance sheet at 31 Aug 2025
P/S
3.0x
computed by olivLawFY 2025 · balance sheet at 31 Aug 2025
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
insufficient data
EV/Sales
2.6x
computed by olivLawFY 2025 · balance sheet at 31 Aug 2025
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 4 of at least 6
  • score weight coverage: 27.1% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

0.08 GBP

05 Nov 2026Source: olivLaw, closing series

Market cap: 64.9 m GBP

Key indicators

Market capitalisation
64.9 m GBP
computed by olivLawbalance sheet at 31 Aug 2025
P/E (TTM)
unavailable
insufficient data
P/B
0.4x
computed by olivLawbalance sheet at 31 Aug 2025
EV/EBITDA
unavailable
input data missing
ROE
-17.4%
computed by olivLawFY 2025 · balance sheet at 31 Aug 2025
Net margin
-143.3%
computed by olivLawFY 2025
Revenue growth (YoY)
-43.7%
computed by olivLawFY 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

20/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 31 Aug 2025
Latest balance sheet date: 31 Aug 2025
Share count (cover of the latest filing), as of: 31 Aug 2025
Source: esefpublished 21 Apr 2026
verified 46derived 2

The data is older than the freshness threshold.

Score by group

27% · Insufficient data

Estimated value range

unavailable — no valuation assumptions for the reporting currency

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

    Assumptions (illustrative, editorial)

    Risk-free rate
    6.5%
    Equity risk premium
    6.0%
    Beta (default)
    1.00
    Cost of equity
    12.5%
    Terminal growth
    3.0%

    Factor scorecard

    Insufficient data

    Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1

    FactorValueScoreWeight used
    ROIC · Quality-11.9%17 (vs peers)38%
    Net margin · Quality-143.3%6 (vs peers)23%
    FCF conversion · Qualityunavailableunavailable—
    Revenue CAGR 3Y · Growthunavailableunavailable—
    EPS CAGR 3Y · Growthunavailableunavailable—
    Net debt / EBITDA · Balance sheetunavailableunavailable—
    Interest coverage · Balance sheet-76.0x0 (on a fixed band)23%
    Current ratio · Balance sheet24.4x100 (on a fixed band)15%
    P/E (TTM) · Valuationunavailableunavailable—
    EV/EBITDA · Valuationunavailableunavailable—
    FCF yield · Valuationunavailableunavailable—
    Shareholder yield (distributions) · Returnsunavailableunavailable—
    Payout ratio (FCF) · Returnsunavailableunavailable—

    Factors without a value were dropped; the remaining weights were renormalised.

    Score groups

    • Balance sheet40/100 · 2/3 factors with a value
    • Growth· partialunavailable · 0/2 factors with a value
    • Quality13/100 · 2/3 factors with a value
    • Returns· partialunavailable · 0/2 factors with a value
    • Valuation· partialunavailable · 0/3 factors with a value

    A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

    Memo

    HOME REIT PLC (HOME.L). Latest full fiscal year: 2025; data up to 2025-08-31.

    Figures computed from the financial statements: revenue 21.4 m GBP in 2025; YoY growth -43.7%; net margin -143.3%; ROE -17.4%.

    Valuation cannot be computed from the available data.

    Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1).

    Text generated deterministically from the figures shown; no language model. Not investment advice.

    What supports the thesis

    • Current ratio: 24.4x

    What contradicts it

    • ROIC: -11.9%
    • Net margin: -143.3%
    • Interest coverage: -76.0x

    Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).

    Versus the vertical median

    Listed companies from United Kingdom · same country · compared with 39 companies

    Multiples and returns vs the median

    P/E
    —
    vertical median 15.3x
    EV/EBITDA
    —
    vertical median —
    P/S
    3.0x
    vertical median 1.5x
    above median (+97.6%)
    P/B
    0.4x
    vertical median 2.2x
    below median (−81.4%)
    ROE
    -17.4%
    vertical median 14.4%
    below median (−220.8%)
    Net margin
    -143.3%
    vertical median 10.8%
    below median (−1,430.7%)
    EBIT margin
    -141.6%
    vertical median 22.9%
    below median (−717.0%)
    Revenue YoY
    -43.7%
    vertical median 7.9%
    below median (−655.1%)
    Net debt/EBITDA
    —
    vertical median —
    Dividend yield
    —
    vertical median 2.9%

    Price rebased to 100 (monthly, 5 years)

    Companies in the vertical

    Market capP/EROENet marginRevenue YoY1A / 3A
    BATS.LBritish American Tobacco P.L.C.104.3 bn13.516.5%30.3%−1.0%+7% / +88%
    ABF.LAssociated British Foods PLC14.7 bn14.39.2%5.3%−3.1%−5% / −15%
    0EV1.LCarnival PLC5.5 bn4.146.7%13.4%+6.4%unavailable / unavailable
    BAB.LBabcock International Group PLC5.1 bn24.734.7%4.1%+7.2%−10% / +158%
    AUTO.LAutotrader Group PLC4.8 bn16.460.2%47.1%+3.9%−13% / −23%
    BBY.LBalfour Beatty PLC4.2 bn16.323.2%2.8%+15.2%+20% / +160%
    ABDN.LAberdeen Group PLC4.1 bn10.88.0%28.9%−2.1%+11% / +41%
    BKG.LThe Berkeley Group Holdings PLC3.6 bn11.38.8%13.4%−4.2%−0% / −22%
    BME.LB&M European Value Retail PLC2.9 bn17.421.2%2.8%+3.7%+68% / −51%
    AJB.LAj Bell PLC2.4 bn22.849.9%33.1%+18.0%+8% / +128%
    ASHM.LAshmore Group PLC1.4 bn13.913.1%71.6%−0.1%+28% / +18%
    BCG.LBaltic Classifieds Group PLC1.2 bn23.215.8%57.6%+6.9%−99% / −99%
    APN.LApplied Nutrition PLC763.6 m36.241.2%19.7%+24.2%+71% / unavailable
    BAG.LA.G. Barr P.L.C.671.9 m14.414.4%10.8%+4.0%−7% / +26%
    ASC.LAsos PLC494.5 m—-81.3%-12.0%−14.7%+71% / +8%
    ALFA.LAlfa Financial Software Holdings PLC486.8 m16.361.5%23.8%+15.3%−28% / +10%
    AML.LAston Martin Lagonda Global Holdings PLC344.3 m—-93.4%-39.2%−20.6%−45% / −85%
    APTD.LAptitude Software Group PLC111.3 m28.57.2%6.2%−7.3%−30% / −23%
    HOME.LHome REIT PLC64.9 m—-17.4%-143.3%−43.7%−78% / unavailable
    AMGO.LAmigo Holdings PLC9.9 m———−81.9%+325% / +844%
    ASBE.LAssociated British Engineering PLC605.3 k—-19.1%—unavailableunavailable / unavailable
    AMIF.LAmicorp Fs (uk) PLC221.6 k0.127.5%9.1%+8.1%unavailable / unavailable
    AAF.LAirtel Africa PLC——24.1%10.6%+29.5%−7% / +164%
    AAL.LAnglo American PLC——-19.3%-20.2%+4.5%+30% / +76%
    ACG.LAcg Metals Limited——-80.3%-32.0%+134.8%+60% / +63%

    1- and 3-year price returns: for HOME.L from daily closes (the same as the performance table), for the other companies from month-end closes.

    olivLaw engine forecast

    The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

    The engine has no published run for this company yet.

    Valuation scenarios (editable assumptions)

    Illustrative scenarios

    Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

    Bear
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Base
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Bull
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Nothing is saved.

    Estimated price (GBP)

    Estimated priceBearBaseBull
    1 years
    insufficient data
    Total return unavailable · Per year unavailable
    insufficient data
    Total return unavailable · Per year unavailable
    insufficient data
    Total return unavailable · Per year unavailable
    3 years
    insufficient data
    Total return unavailable · Per year unavailable
    insufficient data
    Total return unavailable · Per year unavailable
    insufficient data
    Total return unavailable · Per year unavailable
    5 years
    insufficient data
    Total return unavailable · Per year unavailable
    insufficient data
    Total return unavailable · Per year unavailable
    insufficient data
    Total return unavailable · Per year unavailable
    What moves the 3-year price the most

      AI analysis

      AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

      In brief

      HOME REIT plc is a real estate investment company in an orderly managed wind-down, selling its portfolio of homes for vulnerable people with the aim of returning available capital to shareholders. Its relevance now lies in the broad asset sales, loans fully repaid in 2024, and litigation and an FCA investigation still open 1. The portfolio's value fell to 154.9 million GBP at 31 August 2025 1.

      SWOT

      Strengths

      • Debts to the lender were fully repaid in 2024, simplifying the capital structure 1.
      • There is already documented investor interest in the whole portfolio, expressed through offers received 1.
      • The investment manager has formal risk management processes and cash flow monitoring 1.

      Weaknesses

      • Administration costs are a large share of NAV, and the total expense ratio has risen 1.
      • Shares are suspended from trading, and financial statements were published late 1.
      • Tenant receivables have largely been written off as uncollectable, reflecting collection difficulties 1.

      Opportunities

      • A bulk sale of a large number of properties, if negotiations conclude, could accelerate capital distribution 1.
      • Recovery of some receivables or damages from litigation could add value for shareholders, if financially viable 1.
      • Restoration of the listing could improve shareholder access to information and trading 1.

      Threats

      • The Financial Conduct Authority investigation and possible litigation could generate costs and limit distributions 1.
      • Declines in property values, amid lower valuations, could reduce amounts recovered 1.

      Risks

      • Delay in returning capitalhigh

        Shareholders could receive smaller sums or later than expected if sales or litigation take longer 1.

      • Regulatory investigationhigh

        The Financial Conduct Authority investigation, opened in February 2024, could lead to sanctions or additional costs 1.

      • Litigation with former service providers and shareholdersmedium

        Court actions, including those against former managers and other parties, can be costly and uncertain in outcome 1.

      • Non-payment of rentmedium

        Tenants who do not pay their debts could reduce receipts and the value of remaining assets 1.

      • Trading suspensionlow

        The absence of trading could limit share liquidity and transparency for investors until the listing is restored 1.

      Investment thesis

      What would need to be true (bull case)

      • If the bulk sale of the portfolio completes at values close to valuations, available capital could be returned to shareholders faster than under individual sales 1.
      • Full repayment of debts in 2024 removes a major financial risk and leaves a simpler capital structure 1.
      • Recovery of some sums from litigation or from parties involved could add value, if proceedings produce favourable results 1.

      What would break the thesis

      • The portfolio's value fell considerably from the prior year, and NAV per share declined by 16% 1.
      • If negotiations with the main buyer fail, assets could be sold at auction at lower prices and with additional costs 1.
      • The regulatory investigation and open litigation could consume remaining capital and delay any distribution 1.

      What to watch

      • Completion of the exclusivity transaction for about 700 properties2026
      • Filing of the 2025 interim financial statements and request for restoration of the listing2026
      • Progress of the regulatory investigation and litigation against former service providersnext 10-K

      Products, market & competition

      AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

      The business

      According to the annual report for the year ended 31 August 2025, the group aims to realise all portfolio investments in an orderly manner, with the ultimate goal of returning cash to shareholders after settling all amounts due to the lender 1. The company will not make new investments or take on new borrowings 1. Dividends have been suspended since February 2023 1.

      Operations are outsourced to AEW UK Investment Management LLP, appointed alternative investment fund manager and investment manager in August 2023, which manages the assets and sales 1. The company has no full-time employees 1. Shares have been suspended from trading on the London Stock Exchange since 3 January 2023, and the company intends to apply for restoration of its listing after filing overdue financial statements 1.

      Market context

      The company operates in the British social housing and housing-for-vulnerable-people rental market, where tenants often have limited financial capacity, leading to unrecoverable rent debts 1. The investment market for such assets is narrow, and prices obtained depend on property condition and tenant quality 1.

      Demand for assets of this type from institutional investors was sufficient to attract offers for the whole portfolio in February 2025, but completing transactions remains conditional on ongoing negotiations 1. For properties without viable tenants, the company considers sale on the open market or by auction 1.

      Trends

      • Orderly portfolio liquidationtailwind

        Asset sales and full repayment of loans in 2024 reduce debt exposure, which could simplify returning capital to shareholders if sales complete at values close to valuations 1.

      • Non-payment of rent and credit lossesheadwind

        Tenant debts have largely been written off as uncollectable, and collection difficulties may continue to erode the value of remaining assets 1.

      • Administration and legal costsheadwind

        The total expense ratio rose to 11.1% of NAV, although absolute expenses fell alongside a lower NAV; legal and investigation costs could consume available capital 1.

      • Investor interest in the portfoliomixed

        Offers for the whole portfolio were received in February 2025, and exclusive negotiations with Patron Capital suggest appetite for the assets if the transaction completes 1.

      Competitive position

      The company competes for assets with other institutional investors and social housing operators, particularly for higher-quality properties 1. Sale prices are influenced by competition between portfolio buyers and those buying individual properties at auction 1.

      A relative advantage could be the ability to sell a large portfolio in bulk if the negotiation with Patron Capital concludes, though the risk of selling the remaining assets individually at auction persists 1.

      • Patron Capital

        Investor with which the company entered exclusivity for the sale of about 700 properties; not US-listed 1.

      • Registered social housing providers

        Social housing providers that could buy or take over properties through bilateral transactions 1.

      • Institutional real estate investors

        Funds that submitted offers for the whole portfolio in February 2025 1.

      • Property auction buyers

        Individual investors and companies buying remaining properties at auction 1.

      News & filings

      In the press

      No news in our archive over the last 180 days.

      Annual reports (ESEF)

      Sources

      1. [1] Annual report, fiscal year ended 2025-08-31 (ESEF) · SEC / HOME REIT plc · 31 Aug 2025

      Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.