olivLaw · European equity research
THE CARDIFF PROPERTY PUBLIC LIMITED COMPANY CDFF.L
United Kingdom · London Stock Exchange · ISIN GB0001754257 · Vertical: Listed companies from United Kingdom
The Cardiff Property plc is a UK-listed company active in property development and investment, holding a small portfolio of leased properties and an interest in a joint venture. Rental revenue was 680 thousand GBP in fiscal 2025, and net assets per share reached 30.53 GBP, in a context where the company carries no gearing.
At the close of 04 Nov 2026, THE CARDIFF PROPERTY PUBLIC LIMITED COMPANY (CDFF.L) stock was 0.28 GBP (+0.00% on the day), with market capitalisation 281.0 k GBP, P/E 0.2 on diluted EPS of 1.33 GBP over the last 12 months, dividend yield 89.67%, beta -24.71, 52-week range 0.26–27.50 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 45.4
- neutral
- Bollinger (20, 2)
- -16.50 – 30.66
- in the lower half of the band · %B 0.36 · band width 665.9%
- SMA 50 / 200
- 12.61 / 16.63
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -4.33 / -3.90
- MACD below 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
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | unavailable | −0.6% | unavailable | — |
| 3 months | −99.0% | −4.2% | −94.8 pp | — |
| 6 months | unavailable | +4.3% | unavailable | — |
| Year to date | +1.9% | +7.5% | −5.7 pp | — |
| 1 year | unavailable | +9.9% | unavailable | +5.8% |
| 3 years | unavailable | +49.8% | unavailable | +26.3% |
| 5 years | −98.6% | +42.8% | −141.4 pp | — |
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.
Today's P/E sits at the 0 percentile of its own 3-quarter history (min 0.2, median 19.6, max 23.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 662.0 k | 683.0 k | 680.0 k |
| Revenue YoY | unavailable | +3.2% | −0.4% |
| Net income | 1.1 m | 1.1 m | 1.4 m |
| Net income YoY | unavailable | −3.9% | +26.8% |
| Diluted EPS | 1.05 | 1.03 | 1.33 |
| Diluted EPS YoY | unavailable | −1.8% | +29.3% |
| net % | 168.3% | 156.8% | 199.7% |
| Free cash flow | 283.0 k | 379.0 k | 243.0 k |
Balance sheet & financial health
Fiscal year 2025 · 30 Sept 2025
- Cash
- 10.5 m GBP
- Financial debt
- unavailable GBP
- Net debt
- unavailable GBP
- Equity
- 30.7 m GBP
- Total assets
- 31.7 m GBP
- Debt / equity
- unavailable
- Current ratio
- 19.06x
- ROE
- 4.4%
- ROA
- 4.3%
- FCF margin
- 35.7%
Financial statements (source on every figure)
Revenue and net income (GBP)
Margins
Income statement · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 662.0 k | 683.0 k | 680.0 k | esef· 09 Dec 2025verified |
| Cost of revenue | 52.0 k | 98.0 k | 222.0 k | esef· 09 Dec 2025verified |
| Gross profit | 610.0 k | 585.0 k | 458.0 k | esef· 09 Dec 2025verified |
| Operating income | 355.0 k | 644.0 k | 624.0 k | esef· 09 Dec 2025verified |
| Interest expense | 6.0 k | 7.0 k | 6.0 k | esef· 09 Dec 2025verified |
| Pre-tax income | 1.3 m | 1.4 m | 1.7 m | esef· 09 Dec 2025verified |
| Income tax | 148.0 k | 314.0 k | 321.0 k | esef· 09 Dec 2025verified |
| Net income | 1.1 m | 1.1 m | 1.4 m | esef· 09 Dec 2025verified |
| Diluted EPS | 1.05 | 1.03 | 1.33 | esef· 09 Dec 2025verified |
| Dividend per share | 0.21 | 0.23 | 0.25 | esef· 09 Dec 2025derived |
Balance sheet · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 405.0 k | 2.0 m | 10.5 m | esef· 09 Dec 2025verified |
| Receivables | 274.0 k | 317.0 k | 586.0 k | esef· 09 Dec 2025verified |
| Inventories | 715.0 k | 722.0 k | 723.0 k | esef· 09 Dec 2025verified |
| Current assets | 11.8 m | 13.3 m | 15.8 m | esef· 09 Dec 2025verified |
| Property, plant & equipment, net | 290.0 k | 287.0 k | 286.0 k | esef· 09 Dec 2025verified |
| Total assets | 30.9 m | 31.4 m | 31.7 m | esef· 09 Dec 2025verified |
| Current liabilities | 702.0 k | 776.0 k | 831.0 k | esef· 09 Dec 2025verified |
| Total liabilities | 944.0 k | 1.0 m | 1.1 m | esef· 09 Dec 2025verified |
| Equity | 30.0 m | 30.4 m | 30.7 m | esef· 09 Dec 2025verified |
| Shares outstanding at year end | 1.1 m | 1.0 m | 1.0 m | esef· 09 Dec 2025derived |
Cash flow · GBP
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 283.0 k | 381.0 k | 243.0 k | esef· 09 Dec 2025verified |
| Capex | 0 | 2.0 k | 0 | esef· 09 Dec 2025verified |
| Free cash flow | 283.0 k ≈ | 379.0 k ≈ | 243.0 k ≈ | esef· 09 Dec 2025derived |
| Investing cash flow | -3.9 m | 1.8 m | 9.4 m | esef· 09 Dec 2025verified |
| Financing cash flow | -918.0 k | -603.0 k | -1.1 m | esef· 09 Dec 2025verified |
| Dividends paid | 225.0 k | 235.0 k | 252.0 k | esef· 09 Dec 2025verified |
| Share repurchases | 679.0 k | 368.0 k | 851.0 k | esef· 09 Dec 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 52.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 281.0 k GBP
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
52% · 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: score weight coverage: 52.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 199.7% | 100 (vs peers) | 12% |
| FCF conversion · Quality | 17.9% | 0 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 104.0x | 100 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 19.1x | 100 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 0.2x | 94 (vs peers) | 20% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 86.5% | 100 (on a fixed band) | 16% |
| Shareholder yield (distributions) · Returns | 392.5% | 100 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | 103.7% | 23 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet100/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality50/100 · 2/3 factors with a value
- Returns69/100 · 2/2 factors with a value
- Valuation97/100 · 2/3 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
CARDIFF PROPERTY PUBLIC LIMITED COMPANY(THE) (CDFF.L). Latest full fiscal year: 2025; data up to 2025-09-30.
Figures computed from the financial statements: revenue 680.0 k GBP in 2025; YoY growth -0.4%; net margin 199.7%; ROE 4.4%.
The estimated value range is 15.00–23.14 GBP per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 19.17 GBP, the price of 0.28 GBP leaves a potential of 6,871.6% (value / price − 1) and a margin of safety of 98.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 52.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 199.7%
- Interest coverage: 104.0x
- Current ratio: 19.1x
- P/E (TTM): 0.2x
- FCF yield: 86.5%
- Shareholder yield (distributions): 392.5%
- The price is below the estimated value range
What contradicts it
- FCF conversion: 17.9%
- Payout ratio (FCF): 103.7%
Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| CDFF.LCardiff Property Public Limited Company(the) | 281.0 k | 0.2 | 4.4% | 199.7% | −0.4% | −99% / −99% |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 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 CDFF.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.
Estimated price (GBP)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 0.15 Total return 23% · Per year 23% | 0.27 Total return 89% · Per year 89% | 0.41 Total return 158% · Per year 158% |
| 3 years | 0.14 Total return 138% · Per year 34% | 0.27 Total return 265% · Per year 54% | 0.45 Total return 403% · Per year 71% |
| 5 years | 0.12 Total return 239% · Per year 28% | 0.27 Total return 440% · Per year 40% | 0.49 Total return 670% · Per year 50% |
- Exit P/E± 0.07
- Net margin± 0.05
- Annual revenue growth± 0.04
- Annual dilution± 0.00
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
The Cardiff Property plc is a UK-listed company active in property development and investment, holding a small portfolio of leased properties and an interest in a joint venture. Rental revenue was 680 thousand GBP in fiscal 2025 1, and net assets per share reached 30.53 GBP 1, in a context where the company carries no gearing.
SWOT
Strengths
- The company has a balance sheet with no gearing, high net assets per share and substantial cash resources 1. A dividend flow from the Campmoss joint venture contributes to profitability 1.
- Direct relationships with tenants and a small team with low staff turnover are described as stable elements of the business model 1.
- The dividend policy has been raised in recent years, indicating sustained capacity for distributions 1.
Weaknesses
- The company's own property portfolio is small, and operating income depends on a limited number of assets 1.
- The average length of leases has declined slightly, reducing the predictability of rental income 1.
- The company undertook no development during the year and does not collect climate metrics or emissions targets 1.
Opportunities
- Improving energy efficiency could make buildings more attractive to tenants and could support valuations 1.
- Selective acquisitions of well-located and climate-resilient assets could expand the portfolio if pricing conditions are favourable 1.
- Potential access to sustainability-linked finance, as the climate strategy develops, could lower the cost of capital 1.
Threats
- Regulatory energy efficiency requirements could force costly investment in existing buildings 1.
- Flooding and extreme weather could raise insurance premiums or reduce the availability of cover 1.
- Adverse market conditions could reduce portfolio value, and falling interest rates reduce deposit income 1.
Risks
- Energy compliance costsmedium
EPC and minimum efficiency requirements could require costly refurbishment, especially for buildings with weak performance 1.
- Physical climate risksmedium
Flooding and overheating could lead to unplanned repairs and reduced insurance cover for some properties 1.
- Lease lengthlow
A decline in average lease length could reduce rental income stability if several leases expire at the same time 1.
- Portfolio valuationmedium
Adverse market conditions could reduce property values, and valuations of the Campmoss portfolio rely partly on the Directors' own estimates 1.
- Dependence on the Campmoss joint venturehigh
The substantial contribution of the joint venture to profit and dividends could expose the group to decisions and performance of its partner 1.
Investment thesis
What would need to be true (bull case)
- If net assets per share and the absence of gearing are maintained, the company could remain well placed to sustain rising dividends 1.
- The contribution of the Campmoss joint venture and interest income could continue to support profitability even when rents are flat 1.
- Investment in energy efficiency could strengthen the portfolio's appeal to tenants and help protect long-term values 1.
What would break the thesis
- If regulatory requirements tighten, upgrade costs could significantly reduce the returns on leased assets 1.
- The company's own property portfolio is small and rental income is limited, which could leave it exposed to local shocks 1.
- If interest rates continue to fall, deposit income could decline and profit could depend increasingly on the joint venture 1.
What to watch
- Evolution of the Campmoss joint venture contribution to profit and dividends receivednext 10-K
- EPC compliance costs and any refurbishment work required on the buildings2027
- Average length of leases and the level of rents achievednext 10-K
- Share buyback policy and the level of dividends paid2027
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
The group is involved in the acquisition, development and management of commercial and residential property, with a registered office in Egham, England 1. Its main revenue comes from gross rent on the investment portfolio, which generated 680 thousand GBP in fiscal 2025 1. The company undertook no development during the year, and the portfolio remains small, with six employees including the Directors 1.
An important element of the financial profile is the interest in the Campmoss joint venture, accounted for under the equity method. Profit attributed from this investment was 380 thousand GBP in fiscal 2025, and the group received a dividend of 2,500 thousand GBP from this partnership 1. The joint venture investment was valued at 9,303 thousand GBP at 30 September 2025 1.
The group has no interest-bearing debt, and surplus cash is placed in term deposits and bank accounts to earn interest 1. Financial income, mainly interest, rose to 0.7 million GBP in 2025 1, so a significant part of profitability comes from cash management rather than operating rents.
Segments
Campmoss joint venture
The interest in the Campmoss joint venture contributes most to group profit: 380 thousand GBP in fiscal 2025 1. Sales made by the Campmoss Group are not included in group revenue under IAS 28 1, and valuations of the Campmoss portfolio are made by the Directors rather than independent valuers 1.
Market context
The company operates in the UK property market, particularly around Egham and other areas of England where it manages properties 1. The local market has been affected by tighter energy requirements, including minimum energy efficiency standards for commercial premises, which require an EPC rating of at least E for new and existing commercial leases 1.
External valuations of the property portfolio point to a relatively stable market, with local agents reaffirming property values during the year 1. However, the risk of a reduction in portfolio value in adverse market conditions remains a point of attention noted by management 1.
Trends
- Stricter energy requirementsheadwind
Minimum energy efficiency standards and wider EPC requirements could require investment in insulation, heating and glazing if properties do not meet the new criteria 1. These costs could weigh on operating margins over the medium term.
- Physical climate risksheadwind
Flooding and overheating could generate unplanned repair costs and higher insurance premiums, especially for properties in higher flood-risk areas 1. The company considers the current impact to be low 1.
- Lower interest rates and cash incomemixed
Falling interest rates have reduced deposit yields, but rising cash balances have kept financial income growing, from 0.6 to 0.7 million GBP 1. The net effect depends on the path of rates and the level of cash held.
- Demand for energy-efficient buildingsmixed
Tenants increasingly favour energy-efficient and climate-resilient buildings, which could reduce demand for less efficient units and put pressure on rents 1. The company factors these requirements into its asset planning.
Competitive position
The supplied sources do not identify direct competitors of the company and include no information on market share or comparisons with other property owners 1. The competitive analysis is therefore limited to the market factors noted in the report, such as rent levels and tenant demand for efficient buildings 1.
More broadly, the company competes for tenants and acquisition opportunities with other property investors in the areas where it operates, and its stated advantage is a stable tenant base with direct relationships 1. These claims are not quantified in the available sources 1.
- No competitors named in the supplied sources
The annual report does not name direct competitors, so comparable companies cannot be listed from the given sources 1.
- Other property investors in England
Companies competing for tenants and acquisitions in the same areas are not named in the source 1.
- Local developers
Competition from local developers is mentioned only generically in the context of planning projects, without names 1.
- Joint venture partner and other owners
The Campmoss joint venture is part of the group's strategy and is not a competitor 1.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202509 Dec 2025
- Annual report 202411 Feb 2025
Sources
- [1] Annual report, fiscal year ended 2025-09-30 (ESEF) · SEC / THE CARDIFF PROPERTY PUBLIC LIMITED COMPANY · 30 Sept 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.