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UK REIT owning major shopping centers and retail destinations across the UK, Ireland and France.
UK REIT owning major shopping centers and retail destinations across the UK, Ireland and France.
Earns rent from retailers and leisure operators under multi-year leases, part of it topped up by a share of tenants' sales. Over the past several years it has sold many properties to cut debt and has narrowed the portfolio toward fewer, larger destinations, some of them owned jointly with partners.
In one line: A UK Simon Property Group peer for shopping centers.
Moat: narrow (scale, installed base). Ownership of dominant regional shopping destinations with high barriers to new supply.
Headquarters: London, UK · Founded: 1942 · Employees: 124
Size Hammerson (HMSO.L) is a United Kingdom Real Estate company (Real Estate Investment Trusts) with a market value of $2.80B, the 138th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £357.00 on 6 Nov 2026.
Performance Over six months the shares gained 12.7%, against -5.5% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 92.4% over the last twelve months (peer median +5.5%); the operating margin is 48.9% (peer median 45.4%).
Valuation It trades at 15.2× forward earnings against a peer median of 19.2× (5th cheapest of 21).
Credit Hammerson has 4 bonds outstanding ($2.09B), rated Baa1 by the agencies and trading like BBB- at a weighted spread of 148 bp.
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £276M | £212M | £122M | £115M | £131M |
| Revenue growth | — | +74% | +6% | -12% | — |
| Gross profit | £182M | £131M | £73.6M | £69.8M | £89.3M |
| EBITDA | £136M | £87.1M | £24.4M | £9.70M | £17.6M |
| Net income | £209M | £232M | -£526M | -£51.4M | -£164M |
| Free cash flow | £36.0M | £69.7M | £9.20M | £86.9M | £9.80M |
| Capital expenditure | £57.7M | £33.6M | £13.7M | £18.7M | £36.4M |
| Total debt | n/a | £1.64B | £1.52B | £1.67B | £1.69B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hammerson HMSO.L | $2.80B | +13% | +92% | 49% | 15.2× | n/a |
| Land Securities LAND.L | $7.51B | +20% | +7% | 48% | 13.2× | n/a |
| Unibail-Rodamco-Westfield SE Stapled Secs Cons of 1 Sh Unibail Rodamco + 1 Sh WFD Unib Rod URW.PA | n/a | -7% | n/a | n/a | n/a | n/a |
| British Land BLND.L | $5.94B | +17% | +15% | 52% | 14.1× | n/a |
| Klepierre LI.PA | $11.6B | +8% | +3% | 63% | 13.1× | n/a |
| NewRiver REIT NRR.L | $470M | +6% | +45% | 39% | 10.1× | n/a |
| Mercialys MERY.PA | $1.05B | -15% | +3% | 69% | 7.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HMSO.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.9% | +5.0% | 4th highest of 21 |
| 6-month return | +12.7% | -5.5% | 5th highest of 21 |
| Distance from 52-week high | -8.9% | -13.6% | 5th highest of 21 |
| Revenue growth (TTM) | +92.4% | +5.5% | 2nd highest of 21 |
| Operating margin | 48.9% | 45.4% | 11th highest of 21 |
| Forward P/E | 15.2× | 19.2× | 5th cheapest of 21 |
| Bond spread | 148 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hammerson HMSO.L | United Kingdom | $2.80B | +13% | +92% | 49% | 15.2× | n/a | n/a |
| Dynex Capital DX | United States | $2.77B | -20% | +142% | 65% | 6.6× | n/a | n/a |
| Frasers Logistics & Commercial Trust BUOU.SI | Singapore | $2.76B | -6% | 0% | 64% | 18.1× | n/a | n/a |
| Acadia Realty Trust AKR | United States | $2.74B | -9% | 0% | 19% | 65.9× | n/a | n/a |
| Derwent London DLN.L | United Kingdom | $2.87B | +15% | +45% | 40% | 20.0× | n/a | n/a |
| DiamondRock Hospitality DRH | United States | $2.88B | +30% | +2% | 17% | 21.5× | n/a | n/a |
| Invincible Investment 8963.T | Japan | $2.94B | -1% | +10% | 57% | 15.3× | n/a | n/a |
| United Urban Investment 8960.T | Japan | $3.04B | -15% | -2% | 36% | 16.7× | n/a | n/a |
| Dream Industrial Real Estate Investment Trust DIR-UN.TO | Canada | $2.58B | -8% | +6% | 70% | 15.0× | n/a | n/a |
| Urban Edge Properties UE | United States | $2.58B | -6% | +6% | 31% | 41.4× | n/a | n/a |
| Four Corners Property Trust FCPT | United States | $2.57B | -7% | +10% | 56% | 21.4× | n/a | n/a |
| ORIX JREIT 8954.T | Japan | $3.06B | -12% | +35% | 51% | 18.1× | n/a | n/a |
| CapitaLand Ascott Trust HMN.SI | Singapore | $2.55B | -6% | +5% | 34% | 18.9× | n/a | n/a |
| CT Real Estate Investment Trust CRT-UN.TO | Canada | $3.11B | +3% | +5% | 75% | 12.0× | n/a | n/a |
| LTC Properties LTC | United States | $2.52B | +14% | +69% | 31% | 22.6× | n/a | n/a |
| Big Yellow BYG.L | United Kingdom | $2.50B | +11% | +2% | 62% | 16.5× | n/a | n/a |
| Japan Hotel Reit Investment 8985.T | Japan | $3.14B | +7% | +15% | 67% | 9.4× | n/a | n/a |
| Daiwa House REIT Investment 8984.T | Japan | $3.15B | -13% | -9% | 40% | 20.5× | n/a | n/a |
| Park Hotels & Resorts PK | United States | $3.17B | +39% | -1% | 12% | 29.1× | n/a | n/a |
| Suntec Real Estate Investment Trust T82U.SI | Singapore | $3.18B | -7% | +1% | 56% | 19.4× | n/a | n/a |
| InvenTrust Properties IVT | United States | $2.46B | +1% | +13% | 16% | 393.9× | n/a | n/a |
Hammerson has 4 bonds outstanding with $2.09B face value. The agencies rate it Baa1; its bonds trade like BBB-. Weighted yield 5.36%, a spread of 148 bp over government bonds.