company background image
SPI

S IMMO WBAG:SPI Stock Report

Last Price

€22.65

Market Cap

€1.6b

7D

0.7%

1Y

12.1%

Updated

29 Jun, 2022

Data

Company Financials +
SPI fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance4/6
Financial Health3/6
Dividends4/6

SPI Stock Overview

S IMMO AG is a real estate investment company with its head office in Vienna.

S IMMO Competitors

Price History & Performance

Summary of all time highs, changes and price drops for S IMMO
Historical stock prices
Current Share Price€22.65
52 Week High€23.45
52 Week Low€18.90
Beta0.93
1 Month Change-2.58%
3 Month Change2.26%
1 Year Change12.13%
3 Year Change17.36%
5 Year Change79.76%
Change since IPO260.37%

Recent News & Updates

Shareholder Returns

SPIAT Real EstateAT Market
7D0.7%0.05%-0.7%
1Y12.1%-12.2%-5.9%

Return vs Industry: SPI exceeded the Austrian Real Estate industry which returned -12.1% over the past year.

Return vs Market: SPI exceeded the Austrian Market which returned -5.5% over the past year.

Price Volatility

Is SPI's price volatile compared to industry and market?
SPI volatility
SPI Average Weekly Movement1.8%
Real Estate Industry Average Movement3.2%
Market Average Movement4.8%
10% most volatile stocks in AT Market7.3%
10% least volatile stocks in AT Market2.6%

Stable Share Price: SPI is less volatile than 75% of Austrian stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: SPI's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a543Bruno Ettenauerhttps://www.simmoag.at

S IMMO AG is a real estate investment company with its head office in Vienna. Since 1987, we have been listed on the Vienna Stock Exchange. We invest exclusively in the European Union with a focus on capital cities in Austria, Germany and CEE.

S IMMO Fundamentals Summary

How do S IMMO's earnings and revenue compare to its market cap?
SPI fundamental statistics
Market Cap€1.60b
Earnings (TTM)€243.69m
Revenue (TTM)€217.12m

6.6x

P/E Ratio

7.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
SPI income statement (TTM)
Revenue€217.12m
Cost of Revenue€124.26m
Gross Profit€92.86m
Other Expenses-€150.83m
Earnings€243.69m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 29, 2022

Earnings per share (EPS)3.46
Gross Margin42.77%
Net Profit Margin112.24%
Debt/Equity Ratio97.9%

How did SPI perform over the long term?

See historical performance and comparison

Dividends

2.9%

Current Dividend Yield

19%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

SPI 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/Revenue11.5x
Enterprise Value/EBITDA27x
PEG Ratio-0.5x

Price to Earnings Ratio vs Peers

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

SPI PE Ratio vs Peers
The above table shows the PE ratio for SPI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average14.4x
IIA IMMOFINANZ
6.8x2.6%€2.0b
CAI CA Immobilien Anlagen
5.3x-22.3%€3.1b
ATH Athos Immobilien
23.8xn/a€85.5m
STM Stadlauer Malzfabrik
21.6xn/a€38.1m
SPI S IMMO
6.6x-12.3%€1.6b

Price-To-Earnings vs Peers: SPI is good value based on its Price-To-Earnings Ratio (6.6x) compared to the peer average (14.4x).


Price to Earnings Ratio vs Industry

How does SPI's PE Ratio compare vs other companies in the European Real Estate Industry?

Price-To-Earnings vs Industry: SPI is good value based on its Price-To-Earnings Ratio (6.6x) compared to the Austrian Real Estate industry average (9.2x)


Price to Earnings Ratio vs Fair Ratio

What is SPI'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.

SPI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.6x
Fair PE Ratio8x

Price-To-Earnings vs Fair Ratio: SPI is good value based on its Price-To-Earnings Ratio (6.6x) compared to the estimated Fair Price-To-Earnings Ratio (8x).


Share Price vs Fair Value

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

Below Fair Value: SPI (€22.65) is trading above our estimate of fair value (€22.51)

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


Price to Earnings Growth Ratio

PEG Ratio: SPI's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Discover undervalued companies

Future Growth

How is S IMMO forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-12.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SPI's earnings are forecast to decline over the next 3 years (-12.3% per year).

Earnings vs Market: SPI's earnings are forecast to decline over the next 3 years (-12.3% per year).

High Growth Earnings: SPI's earnings are forecast to decline over the next 3 years.

Revenue vs Market: SPI's revenue (7.3% per year) is forecast to grow faster than the Austrian market (1.1% per year).

High Growth Revenue: SPI's revenue (7.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SPI's Return on Equity is forecast to be low in 3 years time (5.1%).


Discover growth companies

Past Performance

How has S IMMO performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


1.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SPI has a large one-off gain of €195.5M impacting its March 31 2022 financial results.

Growing Profit Margin: SPI's current net profit margins are higher than last year (51.2%).


Past Earnings Growth Analysis

Earnings Trend: SPI's earnings have grown by 1.2% per year over the past 5 years.

Accelerating Growth: SPI's earnings growth over the past year (177.4%) exceeds its 5-year average (1.2% per year).

Earnings vs Industry: SPI earnings growth over the past year (177.4%) exceeded the Real Estate industry 57.1%.


Return on Equity

High ROE: SPI's Return on Equity (14.3%) is considered low.


Discover strong past performing companies

Financial Health

How is S IMMO's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: SPI's short term assets (€807.2M) exceed its short term liabilities (€169.8M).

Long Term Liabilities: SPI's short term assets (€807.2M) do not cover its long term liabilities (€1.8B).


Debt to Equity History and Analysis

Debt Level: SPI's net debt to equity ratio (52.5%) is considered high.

Reducing Debt: SPI's debt to equity ratio has reduced from 155% to 97.9% over the past 5 years.

Debt Coverage: SPI's debt is not well covered by operating cash flow (4.4%).

Interest Coverage: SPI's interest payments on its debt are well covered by EBIT (10.3x coverage).


Balance Sheet


Discover healthy companies

Dividend

What is S IMMO current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


2.87%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: SPI's dividend (2.87%) is higher than the bottom 25% of dividend payers in the Austrian market (1.87%).

High Dividend: SPI's dividend (2.87%) is low compared to the top 25% of dividend payers in the Austrian market (5.03%).


Stability and Growth of Payments

Stable Dividend: SPI's dividend payments have been volatile in the past 10 years.

Growing Dividend: SPI's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (18.9%), SPI's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (62.9%), SPI's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

4.2yrs

Average management tenure


CEO

Bruno Ettenauer (60 yo)

1.25yrs

Tenure

Dr. Bruno Ettenauer, MRICS, has been the Chief Executive Officer and Member of Management Board at S IMMO AG since March 15, 2021. Dr. Ettenauer served as Member of Supervisory Board at Bank Austria Real I...


Leadership Team

Experienced Management: SPI's management team is considered experienced (4.2 years average tenure).


Board Members

Experienced Board: SPI's board of directors are not considered experienced ( 1 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

S IMMO AG's employee growth, exchange listings and data sources


Key Information

  • Name: S IMMO AG
  • Ticker: SPI
  • Exchange: WBAG
  • Founded: NaN
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Implied Market Cap: €1.597b
  • Shares outstanding: 70.52m
  • Website: https://www.simmoag.at

Number of Employees


Location

  • S IMMO AG
  • Friedrichstrasse 10
  • 5th Floor
  • Vienna
  • Vienna
  • 1010
  • Austria

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/29 00:00
End of Day Share Price2022/06/29 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.