Spanish (IBEX) Real Estate Industry Analysis

Industry Valuation and Performance

Has the Spanish Real Estate Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 17 May 2024	€6.0b	€2.3b	€154.3m	31.7x	38.9x	2.6x
Sun, 14 Apr 2024	€5.7b	€2.3b	€109.8m	31.1x	52x	2.4x
Tue, 12 Mar 2024	€5.7b	€2.3b	€109.1m	31.1x	52.2x	2.4x
Thu, 08 Feb 2024	€5.8b	€2.1b	€31.0m	31.1x	187.1x	2.7x
Sat, 06 Jan 2024	€6.3b	€2.2b	€16.8m	31.1x	376.8x	2.9x
Mon, 04 Dec 2023	€6.4b	€2.2b	€11.2m	31.1x	567.3x	2.9x
Wed, 01 Nov 2023	€6.2b	€2.1b	€15.1m	25.2x	410x	2.9x
Fri, 29 Sep 2023	€6.2b	€2.1b	€26.4m	24.9x	236.1x	2.9x
Sun, 27 Aug 2023	€6.3b	€2.2b	€44.9m	22.6x	140.6x	2.9x
Tue, 25 Jul 2023	€6.3b	€2.2b	€139.3m	12.4x	45.4x	2.9x
Thu, 22 Jun 2023	€6.3b	€2.2b	€246.5m	12.3x	25.7x	2.9x
Sat, 20 May 2023	€6.1b	€2.1b	€291.1m	11.3x	20.8x	2.9x
Mon, 17 Apr 2023	€6.2b	€2.1b	€291.7m	12x	21.2x	3x
Wed, 15 Mar 2023	€6.2b	€2.1b	€291.7m	12x	21.3x	3x
Fri, 10 Feb 2023	€6.4b	€2.1b	€435.3m	10.1x	14.6x	3x
Sun, 08 Jan 2023	€6.2b	€2.1b	€435.3m	10.1x	14.3x	3x
Tue, 06 Dec 2022	€5.9b	€2.1b	€432.2m	10.2x	13.7x	2.8x
Thu, 03 Nov 2022	€5.9b	€2.2b	€458.2m	10.7x	12.9x	2.7x
Sat, 01 Oct 2022	€5.7b	€2.2b	€368.7m	11.6x	15.6x	2.6x
Mon, 29 Aug 2022	€5.9b	€2.1b	€344.2m	11.8x	17.2x	2.9x
Wed, 27 Jul 2022	€5.4b	€2.1b	€318.2m	13x	17.1x	2.6x
Fri, 24 Jun 2022	€5.6b	€2.1b	€324.0m	12.4x	17.3x	2.6x
Sun, 22 May 2022	€5.6b	€2.1b	€279.8m	13x	20.2x	2.6x
Tue, 19 Apr 2022	€5.8b	€2.6b	€282.9m	12.7x	20.5x	2.2x
Thu, 17 Mar 2022	€5.6b	€2.6b	€282.9m	17.9x	19.7x	2.1x
Sat, 12 Feb 2022	€5.5b	€1.9b	€161.0m	15.9x	34.4x	3x
Mon, 10 Jan 2022	€5.6b	€1.9b	€161.9m	19.9x	34.6x	3x
Wed, 08 Dec 2021	€5.7b	€1.8b	€204.0m	12.2x	27.9x	3.1x
Fri, 05 Nov 2021	€5.7b	€1.7b	€169.7m	12.4x	33.7x	3.4x
Sun, 03 Oct 2021	€5.7b	€1.5b	€142.1m	12.8x	40.2x	3.9x
Tue, 31 Aug 2021	€5.7b	€1.4b	€83.5m	20.4x	67.8x	4x
Wed, 07 Jul 2021	€5.4b	€1.4b	€98.6m	15.1x	54.3x	3.8x

Current Industry PE

Investors are pessimistic on the Spanish Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The industry is trading at a PE ratio of 38.9x which is lower than its 3-year average PE of 89.4x.

The 3-year average PS ratio of 3.0x is higher than the industry's current PS ratio of 2.6x.

Past Earnings Growth

Total earnings for the Real Estate industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 16% per year.
This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Spanish Real Estate industry?


ES Market	1.85%
Real Estate	1.72%
Real Estate	1.93%
Diversified Real Estate	8.66%
Real Estate Development	3.75%
Real Estate Operating Companies	0.28%
Real Estate Services	0%

Industry PE

Investors are most optimistic about the Real Estate Services industry which is trading above its 3-year average PE ratio of 49.4x.

It looks like they are confident that earnings will grow faster in the future than they have historically.

Investors are most pessimistic about the Diversified Real Estate industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 6.6x.

Forecasted Growth

Analysts are most optimistic on the Real Estate Development industry, expecting annual earnings growth of 27% over the next 5 years.
However this is lower than its past earnings growth rate of 88% per year.

In contrast, the Diversified Real Estate industry is expected to see its earnings decline by 8.0% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
MVC Metrovacesa	€9.30	5.0% +€66.7m	34.4%	PS2.4x
AEDAS Aedas Homes	€20.05	3.1% +€26.4m	49.4%	PE7.7x
ISUR Inmobiliaria del Sur	€8.05	8.8% +€12.0m	13.4%	PE13.1x
RLIA Realia Business	€1.02	1.0% +€8.1m	0%	PE33.5x
LIB Libertas 7	€1.75	23.2% +€7.0m	94.4%	PE28.3x