LondonMetric Property has produced a 21.2% total return over the past 3 years, which puts fresh focus on whether the current £1.74 share price is supported by the cash it can generate. For investors weighing the next move, the key issue is how that performance lines up with the intrinsic value suggested by its future cash flows.

• The 21.2% gain over 3 years means anyone looking at LondonMetric Property today is effectively asking whether that share price journey lines up with the cash the business is expected to produce.

• The group's value case rests heavily on how reliably it can turn its property portfolio into recurring rental cash, which can affect both the stability and timing of the cash flows that underpin any intrinsic value estimate.

• If you'd rather focus on earnings, this one's for you. See why LondonMetric Property's 13.8x P/E tells a different valuation story .

The issue now is whether LondonMetric Property's current market price is consistent with the intrinsic value suggested by its Discounted Cash Flow (DCF) estimate of future cash flows.

If you are weighing whether LondonMetric Property still fits your watchlist based on its cash flows, it can help to compare it with a broader set of companies filtered through 7 high quality undervalued stocks .

Is LondonMetric Property a Bargain on Cash Flow?

The Discounted Cash Flow (DCF) model here is built off adjusted funds from operations, which suits a property owner like LondonMetric Property that lives on recurring rental income. With last twelve month free cash flow not available, the focus shifts to projected cash generation, where analyst and model estimates point to annual free cash flow in the mid £300 million range in the early 2030s.

Those projections assume LondonMetric Property keeps free cash flow growing in a measured way rather than banking on a surge. On that set of assumptions, the DCF output indicates an intrinsic value that sits meaningfully above the current £1.74 share price. This suggests the rental portfolio and its cash profile are being priced cautiously by the market today. Find out what LondonMetric Property could be worth using our Discounted Cash Flow (DCF) estimate .

The LondonMetric Property Narrative: What Would Justify Today's Price?

Narratives for LondonMetric Property sit on Simply Wall St's Community page and act as the missing link between the cash flow puzzle above and the expectations that could justify a higher or lower share price, by spelling out which paths for growth, profitability and earnings would need to play out. Each storyline connects its value view to a specific stance on how LondonMetric Property's growth, margins and risk profile might evolve, which you can track and reassess as fresh information appears.