BWP Trust

ASX:BWP Stock Report

Market Cap: AU$2.4b

BWP Trust Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 BWP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BWP (A$3.37) is trading below our estimate of fair value (A$3.57)

Significantly Below Fair Value: BWP is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

Key metric: As BWP is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BWP. This is calculated by dividing BWP's market cap by their current earnings.
What is BWP's PE Ratio?
PE Ratio13.3x
EarningsAU$180.22m
Market CapAU$2.40b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BWP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average74.8x
RGN Region Group
143.2x22.8%AU$2.5b
HDN HomeCo Daily Needs REIT
29.2x20.0%AU$2.4b
CQR Charter Hall Retail REIT
109.5x22.3%AU$1.9b
VCX Vicinity Centres
17.2x6.3%AU$9.4b
BWP BWP Trust
13.3x-3.8%AU$2.4b

Price-To-Earnings vs Peers: BWP is good value based on its Price-To-Earnings Ratio (13.3x) compared to the peer average (74.8x).

Price to Earnings Ratio vs Industry

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

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BWP 13.3xIndustry Avg. 19.4xNo. of Companies13PE01224364860+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BWP is good value based on its Price-To-Earnings Ratio (13.3x) compared to the Global Retail REITs industry average (19.4x).

Price to Earnings Ratio vs Fair Ratio

What is BWP'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.

BWP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.3x
Fair PE Ratio18.5x

Price-To-Earnings vs Fair Ratio: BWP is good value based on its Price-To-Earnings Ratio (13.3x) compared to the estimated Fair Price-To-Earnings Ratio (18.5x).

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 BWP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$3.37
AU$3.76
+11.7%
7.1%AU$4.25AU$3.40n/a7
Dec ’25AU$3.39
AU$3.76
+11.0%
7.1%AU$4.25AU$3.40n/a7
Nov ’25AU$3.42
AU$3.76
+10.1%
7.1%AU$4.25AU$3.40n/a7
Oct ’25AU$3.73
AU$3.73
-0.04%
5.7%AU$4.01AU$3.40n/a7
Sep ’25AU$3.62
AU$3.65
+0.7%
4.3%AU$3.82AU$3.40n/a8
Aug ’25AU$3.56
AU$3.60
+1.1%
3.7%AU$3.80AU$3.40n/a8
Jul ’25AU$3.51
AU$3.60
+2.6%
3.7%AU$3.80AU$3.40n/a8
Jun ’25AU$3.73
AU$3.57
-4.2%
4.7%AU$3.80AU$3.30n/a8
May ’25AU$3.50
AU$3.54
+1.2%
4.4%AU$3.80AU$3.30n/a7
Apr ’25AU$3.61
AU$3.51
-2.7%
3.4%AU$3.64AU$3.30n/a7
Mar ’25AU$3.49
AU$3.51
+0.7%
3.4%AU$3.64AU$3.30n/a7
Feb ’25AU$3.35
AU$3.51
+4.7%
3.5%AU$3.64AU$3.30n/a6
Jan ’25AU$3.53
AU$3.50
-0.8%
3.3%AU$3.64AU$3.30n/a7
Dec ’24AU$3.45
AU$3.46
+0.1%
4.7%AU$3.64AU$3.14AU$3.398
Nov ’24AU$3.31
AU$3.46
+4.4%
4.7%AU$3.64AU$3.14AU$3.428
Oct ’24AU$3.35
AU$3.50
+4.4%
5.6%AU$3.80AU$3.14AU$3.738
Sep ’24AU$3.68
AU$3.50
-4.9%
5.6%AU$3.80AU$3.14AU$3.628
Aug ’24AU$3.67
AU$3.54
-3.6%
5.7%AU$3.75AU$3.14AU$3.568
Jul ’24AU$3.63
AU$3.58
-1.4%
6.2%AU$3.90AU$3.14AU$3.518
Jun ’24AU$3.73
AU$3.58
-4.0%
6.7%AU$3.90AU$3.14AU$3.737
May ’24AU$3.88
AU$3.66
-5.8%
4.7%AU$3.90AU$3.35AU$3.506
Apr ’24AU$3.78
AU$3.65
-3.5%
4.3%AU$3.90AU$3.35AU$3.617
Mar ’24AU$3.86
AU$3.64
-5.7%
4.1%AU$3.90AU$3.35AU$3.498
Feb ’24AU$3.94
AU$3.69
-6.4%
4.1%AU$4.00AU$3.45AU$3.358
Jan ’24AU$3.91
AU$3.70
-5.4%
4.6%AU$4.00AU$3.45AU$3.538
Dec ’23AU$4.14
AU$3.70
-10.7%
4.6%AU$4.00AU$3.45AU$3.458

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/21 21:49
End of Day Share Price 2024/12/20 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

BWP Trust is covered by 17 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Russell WrightBarclay Pearce Capital Pty Limited
Lauren BerryBofA Global Research
Howard PennyCitigroup Inc