Belgian (BEL20) Real Estate Industry Analysis
UpdatedMay 21, 2022
DataAggregated Company Financials
Companies17
- 7D2.1%
- 3M-11.0%
- 1Y12.2%
- YTD-20.0%
The Real Estate industry has been flat over the last week, but VGP has lost 6.0%. As for the the longer term, the industry is up 15% over the past 12 months. As for the next few years, earnings are forecast to decline by 11% per annum.
Industry Valuation and Performance
Has the Belgian Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE |
|---|---|---|---|---|
| Sat, 21 May 2022 | €9.9b | €1.1b | €1.3b | 7x |
| Mon, 18 Apr 2022 | €12.2b | €1.1b | €1.3b | 8.5x |
| Wed, 16 Mar 2022 | €11.2b | €1.2b | €1.3b | 9.7x |
| Fri, 11 Feb 2022 | €11.3b | €947.6m | €778.6m | 13.2x |
| Sun, 09 Jan 2022 | €12.0b | €947.6m | €778.6m | 13.8x |
| Tue, 07 Dec 2021 | €11.7b | €947.6m | €778.4m | 15.7x |
| Thu, 04 Nov 2021 | €11.0b | €946.2m | €772.2m | 14.9x |
| Sat, 02 Oct 2021 | €9.9b | €947.1m | €783.2m | 13.9x |
| Mon, 30 Aug 2021 | €10.1b | €949.7m | €784.1m | 11.9x |
| Tue, 06 Jul 2021 | €8.7b | €949.7m | €784.1m | 11.8x |
| Fri, 09 Apr 2021 | €7.8b | €921.0m | €767.3m | 12.9x |
| Thu, 31 Dec 2020 | €7.3b | €892.7m | €749.2m | 14.7x |
| Sun, 04 Oct 2020 | €7.1b | €940.3m | €738.4m | 11.4x |
| Wed, 08 Jul 2020 | €6.5b | €991.4m | €728.9m | 7.6x |
| Tue, 31 Mar 2020 | €5.4b | €935.2m | €623.7m | 9.3x |
| Fri, 03 Jan 2020 | €6.0b | €878.9m | €518.6m | 12.2x |
| Mon, 07 Oct 2019 | €5.5b | €851.7m | €742.6m | 8.7x |
| Sun, 30 Jun 2019 | €5.4b | €814.0m | €701.8m | 11.1x |
Median PE Ratio
10.2x
Current Industry PE
- Investors are more pessimistic on the 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 7.1x which is lower than its 3-year average PE of 11.5x.
- Given that earnings are expected to decline by 11%, the lower than average PE seems justified.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 24% per year over the last three years.
- Revenues for these companies have grown 9.8% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Belgian Real Estate industry?
| BE Market | -1.51% | |
| Real Estate | 0.65% | |
| Real Estate | 2.13% | |
| Real Estate Operating Companies | 2.43% | |
| Diversified Real Estate | 1.26% | |
| Real Estate Services | -1.48% | |
| Real Estate Development | -1.97% | |
Industry PE
- Investors are most optimistic about the Real Estate Operating Companies industry even though it's trading below its 3-year average PE ratio of 10.9x.
- Analysts are expecting annual earnings decline of 12%, which is lower than the prior year's growth of 75% per year.
- This could indicate that the market believes that analysts are underestimating future growth or they expect the Real Estate Operating Companies industry's earnings to deteriorate the least compared to other industries.
- Investors are most pessimistic about the Real Estate Services industry, which is trading below its 3-year average of 14.3x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate Development industry, expecting annual earnings growth of 5.5% over the next 5 years.
- In contrast, the Real Estate Operating Companies industry is expected to see its earnings decline by 12% 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 | |
|---|---|---|---|---|---|
| VGP VGP | €188.60 | 4.5% +€179.0m | 19.2% | PB1.9x | |
| SHUR Shurgard Self Storage | €47.30 | 0.7% +€31.2m | 15.1% | PB1.7x | |
| IEP Iep Invest | €10.80 | 4.9% +€4.4m | 20.0% | PB1x | |
| TEXF Texaf | €36.00 | 2.3% +€2.9m | 2.0% | PB1.3x | |
| ZEN Immo-Zenobe Gramme | €233.20 | 9.0% +€1.2m | -2.0% | PB182.5x |