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Shaftesbury Capital

SHC.L
65
REIT - Retail · Real Estate
Price
150.90 GBp
+2.10 (+1.41%)
Market Cap
£2.76B
Exchange
London Stock Exchange
Winston Score
65
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Strong
Growth
Good
Cash Flow
Mixed
Stability
Strong
Valuation
Good
Dividends
Strong

Share count rising — dilution

+115.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 851.9M (2021) → 1.84B (2025)

Winston Score History

The full picture

Shaftesbury Capital PLC is a British real estate company that owns and manages a large collection of buildings in some of London's most famous and busy areas. Its portfolio covers streets and neighborhoods like Covent Garden, Carnaby Street, Chinatown, and Soho — places that attract millions of tourists and shoppers every year. The company rents out these spaces to shops, restaurants, cafes, and entertainment venues.

Shaftesbury Capital makes money by collecting rent from its tenants, which include a mix of independent businesses and well-known brands. It operates almost entirely in central London's West End, making it one of the largest landlords in that specific area. Its main competitive advantage is owning irreplaceable real estate in locations that are very hard to replicate — there is only one Carnaby Street. The key risk is that the business depends heavily on consumer foot traffic and tourism, so any slowdown in visitor numbers or a shift away from physical retail could put pressure on rental income and property values.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.5% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+32.2% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

£0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

26.6%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

£5.7B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Shaftesbury Capital is growing revenue at 3% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
76.7%
Premium pricing power — 76.7% gross margin
Profit after running costs
Operating Margin
53.7%
Excellent — 53.7% operating margin
Return on the money invested
ROCE
2.5%
Weak — 2.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
+5.8%
Slow sales growth (+5.8% YoY)
Profit growth
EPS YoY
+24.8%
Earnings growing fast (+24.8% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
15%
Weak — only 15% of profit becomes cash
Spare cash per sale
FCF Margin
23.3%
Converts sales into free cash efficiently (23.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.23
Conservative — low debt load (0.23)
Covers its interest
Interest Cover
2.30x
Tight — interest eats into profit (2.3x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
7.2x
Attractive valuation — P/E 7.2

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
-17.7
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
2.78%
Moderate income — 2.78% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+32.7%
Dividend growing fast (32.7% YoY)

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