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Bellway p.l.c. (BWY.L)

Consumer Cyclical Out of favour

Bellway builds new homes across Britain, pocketing cash whenever a buyer hands over the keys to a newly constructed house.

£19.88
≈ 1,988p · London-listed shares are usually quoted in pence (GBX) elsewhere; the Almanac shows pounds (£1 = 100p).

Is Bellway p.l.c. a good stock for a UK beginner?

The honest version: There's no rating here and nothing for sale. In its favour: Trades below the total value of its physical assets. Worth weighing: Profit margins are relatively modest compared to asset-light businesses. Below, we lay out what it does, what its numbers mean, and the honest risks, so you can decide for yourself.

No rating · no target price · nothing for sale here
Price-30.6%
52-week range-23% past year
£19.88
Low £17.15High £28.90
Where today's price sits versus its past year - context, not a signal.
If you had put £1,000 into Bellway p.l.c.
£694-31%

Over about 2 years to 2026-07-31. This is the share price only - reinvesting the dividends would add to it. Past performance is not a guide to the future, and it could just as easily have fallen.

How much has Bellway p.l.c. actually fallen?

−49%

Over the last 2 years of daily prices, Bellway p.l.c. fell as much as −49% from a high to a later low. Drops of this size are a normal part of owning a share - worth knowing in advance, so a dip doesn't come as a shock.

Worst peak-to-trough fall in the daily closing price over the period we hold. Past falls are not a forecast - it can fall further, or recover.

Market cap: The company's total value on the stock market - share price times the number of shares. Big = 'large-cap', small = 'small-cap'.
£2.24B
Avg volume: How many shares change hands on a typical day. Higher means it's easy to buy or exit without moving the price.
620.24K
Day range: The lowest and highest price the shares traded at during the latest day.
£19.82 – £20.58
52-week range: The lowest and highest the shares have traded over the past year - a sense of how wide the swings have been.
£17.15 – £28.90
P/E ratio: Price-to-earnings: the share price divided by yearly profit per share. Lower can mean cheaper; higher often means investors expect fast growth.
15.1
Dividend yield: The yearly dividend as a percentage of the share price - roughly the income you'd earn from dividends alone.
3.6%
Beta: How bumpy the share price is versus the whole market. Above 1 swings more than the market; below 1 is calmer. It's about the ride, not whether it goes up or down.
1.37
How bumpy is it?Beta: How bumpy the share price is versus the whole market. Above 1 swings more than the market; below 1 is calmer. It's about the ride, not whether it goes up or down. 1.37
Calm
Wild
Bumpier than the market

Based on beta - how much the price swings versus the whole market. Bumpier isn't bad; it just means a rougher ride, which matters more the sooner you might need the money.

Why has it been moving?▲ +4% past week · ▼ -23% past year

Prices move on results, news and the mood of the whole market - no single headline explains a day, and a quiet week is usually just noise, not a signal.

The bull case

A structural housing shortage forces a long-term boom in new build demand.

The bear case

Extended economic stagnation suppresses wages and property purchasing power.

What does Bellway p.l.c. do?

When everyday buyers and housing associations purchase newly built bricks and mortar, the cash flows straight into Bellway's accounts. This traditional housebuilder turns raw land into sprawling suburban estates, making its money on the gap between what it costs to build a property and the final selling price. Anyone watching this business should keep a close eye on mortgage rates, as they dictate whether everyday buyers can afford to step through the front door.

VQGMI
Factor profile

On our factor screen it looks strongest on value and income, and weakest on momentum.

Value: How cheap the stock looks versus profits, sales and assets (higher = cheaper). 68Quality: How profitable and financially healthy the company is (higher = stronger). 43Growth: How fast revenue and earnings are growing (higher = faster). 47Momentum: How the share price has been trending recently (higher = stronger recent run). 20Income: The dividend income on offer and how sustainable it looks (higher = more/steadier). 59
Quick checks
What's strong
  • Trades below the total value of its physical assets.
  • Offers a steady dividend payout for income-focused portfolios.
  • Operates in a market with a chronic shortage of housing.
What to watch
  • Momentum screens low (20/100)
  • Sudden spikes in mortgage rates can freeze buyer demand overnight.
  • Soaring costs for bricks, timber, and site labour can shrink profit margins.
  • Delays in local council planning approvals can leave expensive land sitting idle.

What do Bellway p.l.c.'s numbers mean?

P/E
15.1
Shows how many pounds investors are willing to pay for each pound of current annual profit.
Lower than most of the 104 Consumer Cyclical shares we cover
Forward P/E
11.6
Looks ahead to expected future profits, dropping a bit to suggest cheaper-looking earnings down the line.
Around the middle of the 122 Consumer Cyclical shares we cover
Dividend yield
3.6%
The cash payout handed back to shareholders each year, relative to the share price.
Higher than most of the 122 Consumer Cyclical shares we cover
Price-to-Book
0.7
Indicates the share price sits below the net value of physical assets like land and unfinished houses.
Lower than most of the 122 Consumer Cyclical shares we cover

Does Bellway p.l.c. pay a dividend?

Yes - Bellway p.l.c. currently pays a dividend of about 3.6% a year (the yearly payout as a share of the price). A dividend is a slice of profit handed to shareholders; the yield moves as the price moves, and a company can cut or stop it.

What do the numbers say about Bellway p.l.c.'s dividend?

There's no rating here, and we don't judge whether the dividend will continue - that would be advice. Here are the figures income investors usually look at, and what each one means, so you can weigh it up yourself.

Dividend yield3.6%The yearly dividend as a percentage of today's price. A very high figure often means the price has fallen because the market expects a cut, so a big yield is a question to look into, not a prize.
Payout ratio53%The share of profit paid out as dividends. A lower figure leaves headroom; near or above 100% means most or all of the profit is going out as dividends.
Dividend cover1.9×Profit divided by the dividend (the payout ratio the other way up). As a rough convention many income investors like around 2× or more; below 1× means the company paid out more than it earned that year.

Figures are from the latest available data and can be distorted by one-off results. Past payments don't predict future ones, and a dividend can be cut at any time. This lays out the numbers to help you understand them - it is not a view on what will happen.

When does Bellway p.l.c. report earnings, and how did recent quarters go?

Bellway p.l.c. is next scheduled to report on about 2026-10-13 - dates can move, and we don't predict results; this just tells you when to look.

Each quarter a company reports its results against what analysts expected. ‘Beating’ or ‘missing’ is about that expectation, not whether the business is doing well in absolute terms.

See who else reports over the next two weeks →

Reported vs expected earnings per share (EPS) from published results; the expectation is the analyst consensus, not our view. Report dates are estimates that can move.

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What are the scenarios for Bellway p.l.c.?

An illustrative range for the year ahead, with the assumption behind each case — not a prediction or a price target.

£30£20£14today · £20▲ Bull · £23• Base · £20▼ Bear · £16in 1 yearILLUSTRATIVE · NOT A PREDICTION OR PRICE TARGET
Bull
+10% to +18%Mortgage rates ease faster than expected, prompting a sudden rush of house hunters.
Base
-2% to +5%The property market bumps along steadily with stable buyer demand.
Bear
-15% to -25%Economic wobbles freeze mortgage lending and stall site completions.

What are the pros and cons of Bellway p.l.c.?

4bull points
7bear points

How many points the write-up makes each way — a balance check, not a score or verdict.

The bull case4
  • Trades below the total value of its physical assets.
  • Offers a steady dividend payout for income-focused portfolios.
  • Operates in a market with a chronic shortage of housing.
  • Maintains a well-known brand name across British suburbs.
The catch4
  • Profit margins are relatively modest compared to asset-light businesses.
  • Earnings growth has stalled recently.
  • Higher share price volatility reflects a cyclical: A business whose sales and profits rise and fall with the wider economy - booming in good times, sinking in downturns. Miners, carmakers and banks are classic examples. industry.
  • Subject to unpredictable government planning and tax policies.
Key risks3
  • Sudden spikes in mortgage rates can freeze buyer demand overnight.
  • Soaring costs for bricks, timber, and site labour can shrink profit margins.
  • Delays in local council planning approvals can leave expensive land sitting idle.
What would flip the thesis

The write-up's own warning lights — if these start happening, the case above changes.

Confidence: medium · data: GBP · flags: none · Charts by TradingView Lightweight Charts™
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Built from public filings & market prices, checked for an education-only tone, and never a price target. How we make these →

This plain-English summary was auto-generated on 2026-08-02 from public data and checked for an education-only, no-advice tone (the figures above carry their own, usually fresher, 'as of' date). It's information, never a recommendation.

Figures as of 2026-08-02. Prices may be delayed and numbers can go stale - always double-check before acting.