View ValuationNoratis 将来の成長Future 基準チェック /06現在、 Noratisの成長と収益を予測するのに十分なアナリストの調査がありません。主要情報n/a収益成長率n/aEPS成長率Real Estate 収益成長2.7%収益成長率n/a将来の株主資本利益率n/aアナリストカバレッジNone最終更新日n/a今後の成長に関する最新情報Price Target Changed • May 20Price target decreased by 83% to €1.10Down from €6.30, the current price target is provided by 1 analyst. New target price is 1,000% above last closing price of €0.10. Stock is down 86% over the past year. The company is forecast to post a net loss per share of €2.15 next year compared to a net loss per share of €3.74 last year.Price Target Changed • Jun 19Price target decreased by 41% to €6.40Down from €10.80, the current price target is an average from 2 analysts. New target price is 27% above last closing price of €5.05. Stock is down 46% over the past year. The company is forecast to post a net loss per share of €1.68 next year compared to a net loss per share of €2.21 last year.Price Target Changed • Nov 16Price target decreased to €24.65Down from €27.60, the current price target is an average from 2 analysts. New target price is 109% above last closing price of €11.80. Stock is down 43% over the past year. The company is forecast to post earnings per share of €2.32 for next year compared to €1.97 last year.Price Target Changed • Jun 08Price target decreased to €27.60Down from €30.43, the current price target is an average from 2 analysts. New target price is 42% above last closing price of €19.40. Stock is down 5.4% over the past year. The company is forecast to post earnings per share of €2.13 for next year compared to €1.97 last year.すべての更新を表示Recent updatesNew Risk • Jun 15New major risk - Revenue and earnings growthEarnings have declined by 65% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 65% per year over the past 5 years. Market cap is less than US$10m (€1.71m market cap, or US$1.98m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end).Price Target Changed • May 20Price target decreased by 83% to €1.10Down from €6.30, the current price target is provided by 1 analyst. New target price is 1,000% above last closing price of €0.10. Stock is down 86% over the past year. The company is forecast to post a net loss per share of €2.15 next year compared to a net loss per share of €3.74 last year.New Risk • Oct 14New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 79% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€17.3m market cap, or US$18.9m).New Risk • Oct 03New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (€13.6m market cap, or US$15.0m).New Risk • Aug 25New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (€14.3m market cap, or US$16.0m).Price Target Changed • Jun 19Price target decreased by 41% to €6.40Down from €10.80, the current price target is an average from 2 analysts. New target price is 27% above last closing price of €5.05. Stock is down 46% over the past year. The company is forecast to post a net loss per share of €1.68 next year compared to a net loss per share of €2.21 last year.お知らせ • May 31Noratis AG, Annual General Meeting, Jul 09, 2024Noratis AG, Annual General Meeting, Jul 09, 2024, at 10:00 W. Europe Standard Time.Reported Earnings • May 29Full year 2023 earnings: Revenues exceed analyst expectationsFull year 2023 results: Revenue: €60.8m (down 29% from FY 2022). Net loss: €10.9m (down 233% from profit in FY 2022). Revenue exceeded analyst estimates by 9.2%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 17% decline forecast for the Real Estate industry in Germany.New Risk • Apr 16New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (€36.7m market cap, or US$39.0m).New Risk • Feb 12New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 49% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Share price has been highly volatile over the past 3 months (21% average weekly change). Minor Risks Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (€46.4m market cap, or US$50.1m).New Risk • Oct 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (€30.1m market cap, or US$31.7m).お知らせ • Jul 22Noratis AG Announces Board ChangesNoratis AG at the Annual General Meeting all items on the agenda were approved by a large majority. Among other things, Hans-Jörg Bergler was elected to the Supervisory Board. He replaces Dr. Florian Stetter.New Risk • Jul 09New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 1.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (€44.3m market cap, or US$48.6m).Valuation Update With 7 Day Price Move • Apr 03Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to €10.00, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Real Estate industry in Germany. Total loss to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.61 per share.Price Target Changed • Nov 16Price target decreased to €24.65Down from €27.60, the current price target is an average from 2 analysts. New target price is 109% above last closing price of €11.80. Stock is down 43% over the past year. The company is forecast to post earnings per share of €2.32 for next year compared to €1.97 last year.Reported Earnings • Oct 02First half 2022 earnings released: EPS: €0 (vs €1.52 in 1H 2021)First half 2022 results: EPS: €0. Revenue: €68.4m (up 14% from 1H 2021). Net income: €7.93m (up 8.7% from 1H 2021). Profit margin: 12% (in line with 1H 2021). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Real Estate industry in Germany.Valuation Update With 7 Day Price Move • Jul 01Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to €15.50, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Real Estate industry in Germany. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.93 per share.Upcoming Dividend • Jun 17Upcoming dividend of €0.55 per shareEligible shareholders must have bought the stock before 24 June 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (4.6%).Price Target Changed • Jun 08Price target decreased to €27.60Down from €30.43, the current price target is an average from 2 analysts. New target price is 42% above last closing price of €19.40. Stock is down 5.4% over the past year. The company is forecast to post earnings per share of €2.13 for next year compared to €1.97 last year.Reported Earnings • May 15Full year 2021 earnings: Revenues exceed analyst expectationsFull year 2021 results: Revenue: €74.0m (up 158% from FY 2020). Net income: €9.47m (up 240% from FY 2020). Profit margin: 13% (up from 9.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 14% compared to a 42% decline forecast for the industry in Germany.Reported Earnings • Oct 04First half 2021 earnings released: EPS €1.52 (vs €0.49 in 1H 2020)The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: €59.8m (up 326% from 1H 2020). Net income: €7.30m (up 306% from 1H 2020). Profit margin: 12% (in line with 1H 2020). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Jun 10Upcoming dividend of €0.50 per shareEligible shareholders must have bought the stock before 17 June 2021. Payment date: 21 June 2021. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.9%).Reported Earnings • May 13Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €29.5m (down 61% from FY 2019). Net income: €2.78m (down 68% from FY 2019). Profit margin: 9.4% (down from 11% in FY 2019). The decrease in margin was driven by lower revenue.Is New 90 Day High Low • Feb 14New 90-day high: €19.65The company is up 9.0% from its price of €18.00 on 13 November 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.78 per share.Is New 90 Day High Low • Jan 21New 90-day high: €18.70The company is up 11% from its price of €16.80 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.91 per share.Is New 90 Day High Low • Dec 19New 90-day high: €18.60The company is up 2.0% from its price of €18.25 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.44 per share.Is New 90 Day High Low • Oct 15New 90-day low: €16.85The company is down 16% from its price of €20.00 on 17 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.91 per share.Is New 90 Day High Low • Sep 29New 90-day low: €17.45The company is down 15% from its price of €20.50 on 01 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.17 per share. このセクションでは通常、投資家が会社の利益創出能力を理解する一助となるよう、プロのアナリストのコンセンサス予想に基づく収益と利益の成長予測を提示する。しかし、Noratis は十分な過去のデータを提供しておらず、アナリストの予測もないため、過去のデータを外挿したり、アナリストの予測を使用しても、その将来の収益を確実に算出することはできません。 シンプリー・ウォール・ストリートがカバーする企業の97%は過去の財務データを持っているため、これはかなり稀な状況です。 業績と収益の成長予測DB:NUVA - アナリストの将来予測と過去の財務データ ( )EUR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数6/30/202568-213737N/A3/31/202567-243636N/A12/31/202467-283535N/A9/30/202457-282525N/A6/30/202447-271515N/A3/31/202454-191919N/A12/31/202360-112323N/A9/30/202356-7-3-3N/A6/30/202351-3-30-30N/A3/31/2023683-32-31N/A12/31/2022868-33-33N/A9/30/2022849-38-38N/A6/30/20228210-43-43N/A3/31/20227810-57-56N/A12/31/2021749-70-70N/A9/30/2021749-79-79N/A6/30/2021748-88-87N/A3/31/2021526-91-91N/A12/31/2020293-94-94N/A9/30/2020354-87-87N/A6/30/2020425-79-79N/A3/31/2020597-49-49N/A12/31/2019768-18-18N/A9/30/20197910-27-26N/A6/30/20198312-35-35N/A3/31/20197010N/A-60N/A12/31/2018569N/A-86N/A9/30/2018569N/A-40N/A6/30/2018568N/A5N/A3/31/2018495N/A-5N/A12/31/2017689N/A13N/A9/30/2017648N/A9N/A6/30/2017607N/A5N/A3/31/2017629N/A20N/A12/31/2016454N/A19N/A12/31/2015241N/A-42N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: NUVAの予測収益成長が 貯蓄率 ( 1.9% ) を上回っているかどうかを判断するにはデータが不十分です。収益対市場: NUVAの収益がGerman市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です高成長収益: NUVAの収益が今後 3 年間で 大幅に 増加すると予想されるかどうかを判断するにはデータが不十分です。収益対市場: NUVAの収益がGerman市場よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。高い収益成長: NUVAの収益が年間20%よりも速く成長すると予測されるかどうかを判断するにはデータが不十分です。一株当たり利益成長率予想将来の株主資本利益率将来のROE: NUVAの 自己資本利益率 が 3 年後に高くなると予測されるかどうかを判断するにはデータが不十分です成長企業の発掘7D1Y7D1Y7D1YReal-estate-management-and-development 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/07/21 05:03終値2026/07/21 00:00収益2025/06/30年間収益2024/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Noratis AG 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。3 アナリスト機関Adam JakubowskiSMC ResearchUlf van LengerichSolventis Wertpapierhandelsbank GmbHPhilipp KaiserWarburg Research GmbH
Price Target Changed • May 20Price target decreased by 83% to €1.10Down from €6.30, the current price target is provided by 1 analyst. New target price is 1,000% above last closing price of €0.10. Stock is down 86% over the past year. The company is forecast to post a net loss per share of €2.15 next year compared to a net loss per share of €3.74 last year.
Price Target Changed • Jun 19Price target decreased by 41% to €6.40Down from €10.80, the current price target is an average from 2 analysts. New target price is 27% above last closing price of €5.05. Stock is down 46% over the past year. The company is forecast to post a net loss per share of €1.68 next year compared to a net loss per share of €2.21 last year.
Price Target Changed • Nov 16Price target decreased to €24.65Down from €27.60, the current price target is an average from 2 analysts. New target price is 109% above last closing price of €11.80. Stock is down 43% over the past year. The company is forecast to post earnings per share of €2.32 for next year compared to €1.97 last year.
Price Target Changed • Jun 08Price target decreased to €27.60Down from €30.43, the current price target is an average from 2 analysts. New target price is 42% above last closing price of €19.40. Stock is down 5.4% over the past year. The company is forecast to post earnings per share of €2.13 for next year compared to €1.97 last year.
New Risk • Jun 15New major risk - Revenue and earnings growthEarnings have declined by 65% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 65% per year over the past 5 years. Market cap is less than US$10m (€1.71m market cap, or US$1.98m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end).
Price Target Changed • May 20Price target decreased by 83% to €1.10Down from €6.30, the current price target is provided by 1 analyst. New target price is 1,000% above last closing price of €0.10. Stock is down 86% over the past year. The company is forecast to post a net loss per share of €2.15 next year compared to a net loss per share of €3.74 last year.
New Risk • Oct 14New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 79% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€17.3m market cap, or US$18.9m).
New Risk • Oct 03New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 0.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (€13.6m market cap, or US$15.0m).
New Risk • Aug 25New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (€14.3m market cap, or US$16.0m).
Price Target Changed • Jun 19Price target decreased by 41% to €6.40Down from €10.80, the current price target is an average from 2 analysts. New target price is 27% above last closing price of €5.05. Stock is down 46% over the past year. The company is forecast to post a net loss per share of €1.68 next year compared to a net loss per share of €2.21 last year.
お知らせ • May 31Noratis AG, Annual General Meeting, Jul 09, 2024Noratis AG, Annual General Meeting, Jul 09, 2024, at 10:00 W. Europe Standard Time.
Reported Earnings • May 29Full year 2023 earnings: Revenues exceed analyst expectationsFull year 2023 results: Revenue: €60.8m (down 29% from FY 2022). Net loss: €10.9m (down 233% from profit in FY 2022). Revenue exceeded analyst estimates by 9.2%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 17% decline forecast for the Real Estate industry in Germany.
New Risk • Apr 16New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (€36.7m market cap, or US$39.0m).
New Risk • Feb 12New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 49% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Share price has been highly volatile over the past 3 months (21% average weekly change). Minor Risks Shareholders have been diluted in the past year (49% increase in shares outstanding). Market cap is less than US$100m (€46.4m market cap, or US$50.1m).
New Risk • Oct 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Market cap is less than US$100m (€30.1m market cap, or US$31.7m).
お知らせ • Jul 22Noratis AG Announces Board ChangesNoratis AG at the Annual General Meeting all items on the agenda were approved by a large majority. Among other things, Hans-Jörg Bergler was elected to the Supervisory Board. He replaces Dr. Florian Stetter.
New Risk • Jul 09New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 1.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (€44.3m market cap, or US$48.6m).
Valuation Update With 7 Day Price Move • Apr 03Investor sentiment deteriorates as stock falls 19%After last week's 19% share price decline to €10.00, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Real Estate industry in Germany. Total loss to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.61 per share.
Price Target Changed • Nov 16Price target decreased to €24.65Down from €27.60, the current price target is an average from 2 analysts. New target price is 109% above last closing price of €11.80. Stock is down 43% over the past year. The company is forecast to post earnings per share of €2.32 for next year compared to €1.97 last year.
Reported Earnings • Oct 02First half 2022 earnings released: EPS: €0 (vs €1.52 in 1H 2021)First half 2022 results: EPS: €0. Revenue: €68.4m (up 14% from 1H 2021). Net income: €7.93m (up 8.7% from 1H 2021). Profit margin: 12% (in line with 1H 2021). Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Real Estate industry in Germany.
Valuation Update With 7 Day Price Move • Jul 01Investor sentiment deteriorated over the past weekAfter last week's 15% share price decline to €15.50, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Real Estate industry in Germany. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.93 per share.
Upcoming Dividend • Jun 17Upcoming dividend of €0.55 per shareEligible shareholders must have bought the stock before 24 June 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 28% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (4.6%).
Price Target Changed • Jun 08Price target decreased to €27.60Down from €30.43, the current price target is an average from 2 analysts. New target price is 42% above last closing price of €19.40. Stock is down 5.4% over the past year. The company is forecast to post earnings per share of €2.13 for next year compared to €1.97 last year.
Reported Earnings • May 15Full year 2021 earnings: Revenues exceed analyst expectationsFull year 2021 results: Revenue: €74.0m (up 158% from FY 2020). Net income: €9.47m (up 240% from FY 2020). Profit margin: 13% (up from 9.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 14% compared to a 42% decline forecast for the industry in Germany.
Reported Earnings • Oct 04First half 2021 earnings released: EPS €1.52 (vs €0.49 in 1H 2020)The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: €59.8m (up 326% from 1H 2020). Net income: €7.30m (up 306% from 1H 2020). Profit margin: 12% (in line with 1H 2020). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Jun 10Upcoming dividend of €0.50 per shareEligible shareholders must have bought the stock before 17 June 2021. Payment date: 21 June 2021. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.9%).
Reported Earnings • May 13Full year 2020 earnings releasedThe company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €29.5m (down 61% from FY 2019). Net income: €2.78m (down 68% from FY 2019). Profit margin: 9.4% (down from 11% in FY 2019). The decrease in margin was driven by lower revenue.
Is New 90 Day High Low • Feb 14New 90-day high: €19.65The company is up 9.0% from its price of €18.00 on 13 November 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.78 per share.
Is New 90 Day High Low • Jan 21New 90-day high: €18.70The company is up 11% from its price of €16.80 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.91 per share.
Is New 90 Day High Low • Dec 19New 90-day high: €18.60The company is up 2.0% from its price of €18.25 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.44 per share.
Is New 90 Day High Low • Oct 15New 90-day low: €16.85The company is down 16% from its price of €20.00 on 17 July 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.91 per share.
Is New 90 Day High Low • Sep 29New 90-day low: €17.45The company is down 15% from its price of €20.50 on 01 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.17 per share.