Tritax Big Box REIT plc

LSE:BBOX Stock Report

Market Cap: UK£4.1b

Tritax Big Box REIT Valuation

Is BBOX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BBOX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BBOX (£1.65) is trading above our estimate of fair value (£1.45)

Significantly Below Fair Value: BBOX is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BBOX?

Other financial metrics that can be useful for relative valuation.

BBOX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue24.8x
Enterprise Value/EBITDA29.5x
PEG Ratio1.5x

Price to Earnings Ratio vs Peers

How does BBOX's PE Ratio compare to its peers?

The above table shows the PE ratio for BBOX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.5x
UTG Unite Group
40.9x23.5%UK£4.2b
BYG Big Yellow Group
12.4x0.06%UK£2.3b
SAFE Safestore Holdings
9.3x5.6%UK£1.9b
SHC Shaftesbury Capital
3.4x-27.4%UK£2.6b
BBOX Tritax Big Box REIT
58.5x38.8%UK£4.1b

Price-To-Earnings vs Peers: BBOX is expensive based on its Price-To-Earnings Ratio (58.5x) compared to the peer average (16.5x).

Price to Earnings Ratio vs Industry

How does BBOX's PE Ratio compare vs other companies in the Global Industrial REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a39.8%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a39.8%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: BBOX is expensive based on its Price-To-Earnings Ratio (58.5x) compared to the Global Industrial REITs industry average (21.6x).

Price to Earnings Ratio vs Fair Ratio

What is BBOX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BBOX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio58.5x
Fair PE Ratio19.7x

Price-To-Earnings vs Fair Ratio: BBOX is expensive based on its Price-To-Earnings Ratio (58.5x) compared to the estimated Fair Price-To-Earnings Ratio (19.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BBOX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£1.67
UK£1.83
+9.6%
10.2%UK£2.10UK£1.51n/a9
May ’25UK£1.53
UK£1.80
+17.2%
9.2%UK£2.10UK£1.51n/a9
Apr ’25UK£1.57
UK£1.75
+11.4%
10.5%UK£2.10UK£1.50n/a9
Mar ’25UK£1.50
UK£1.73
+15.6%
11.3%UK£2.10UK£1.50n/a9
Feb ’25UK£1.65
UK£1.77
+7.2%
9.4%UK£2.10UK£1.55n/a12
Jan ’25UK£1.69
UK£1.70
+0.5%
7.7%UK£1.95UK£1.55n/a12
Dec ’24UK£1.57
UK£1.64
+5.0%
7.8%UK£1.85UK£1.40n/a12
Nov ’24UK£1.40
UK£1.69
+20.8%
9.7%UK£2.05UK£1.40n/a14
Oct ’24UK£1.40
UK£1.70
+21.4%
9.9%UK£2.05UK£1.40n/a13
Sep ’24UK£1.39
UK£1.71
+22.7%
10.9%UK£2.15UK£1.40n/a13
Aug ’24UK£1.38
UK£1.66
+20.5%
10.3%UK£2.05UK£1.40n/a13
Jul ’24UK£1.25
UK£1.67
+33.9%
10.2%UK£2.05UK£1.40n/a12
Jun ’24UK£1.41
UK£1.72
+21.9%
10.8%UK£2.05UK£1.40n/a11
May ’24UK£1.55
UK£1.72
+10.8%
10.4%UK£2.05UK£1.40UK£1.5312
Apr ’24UK£1.40
UK£1.73
+23.4%
9.6%UK£2.05UK£1.50UK£1.5712
Mar ’24UK£1.47
UK£1.71
+16.0%
9.8%UK£2.00UK£1.50UK£1.5013
Feb ’24UK£1.56
UK£1.72
+10.0%
12.5%UK£2.15UK£1.38UK£1.6513
Jan ’24UK£1.39
UK£1.77
+27.4%
19.3%UK£2.54UK£1.33UK£1.6913
Dec ’23UK£1.46
UK£1.78
+22.0%
18.9%UK£2.54UK£1.33UK£1.5713
Nov ’23UK£1.41
UK£1.80
+27.4%
18.7%UK£2.54UK£1.33UK£1.4013
Oct ’23UK£1.36
UK£2.05
+50.7%
20.1%UK£2.95UK£1.35UK£1.4011
Sep ’23UK£1.58
UK£2.29
+44.8%
17.9%UK£2.95UK£1.87UK£1.3911
Aug ’23UK£1.97
UK£2.43
+23.4%
14.9%UK£2.95UK£2.00UK£1.3811
Jul ’23UK£1.79
UK£2.69
+50.6%
10.6%UK£3.05UK£2.00UK£1.2511
Jun ’23UK£2.00
UK£2.73
+36.3%
7.8%UK£3.05UK£2.33UK£1.4111
May ’23UK£2.44
UK£2.75
+13.0%
6.3%UK£3.05UK£2.40UK£1.5511

Analyst Forecast: Target price is less than 20% higher than the current share price.

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