Forucom REIT-Haskovo Valuation

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

FFI (BGN1.6) is trading above our estimate of [[fair value]] (BGN0.56)

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: FFI (BGN1.6) is trading above our estimate of fair value (BGN0.56)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for FFI. This is calculated by dividing FFI's market cap by their current earnings.
What is FFI's PE Ratio?
PE Ratio	2x
Earnings	лв1.43m
Market Cap	лв2.90m

FFI 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/Revenue	17.8x
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for FFI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	25.3x
ZENP Zenith Properties REIT	56.9x	n/a	лв2.1m
ALT Alteron REIT	22.8x	n/a	лв38.2m
BPF Bravo Property Fund REIT	17x	n/a	лв38.5m
SLSP SLS Realty REIT	4.3x	n/a	лв18.0m
FFI Forucom REIT-Haskovo	2x	n/a	лв2.9m

Price-To-Earnings vs Peers: FFI is good value based on its Price-To-Earnings Ratio (2x) compared to the peer average (25.3x).

Price to Earnings Ratio vs Industry

How does FFI's PE Ratio compare vs other companies in the European REITs Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	22.2x	40.4%
FFI Forucom REIT-Haskovo	2x	n/a	US$1.56m

2 Companies		Estimated Growth	Market Cap
Industry Avg.	22.2x	40.4%
FFI Forucom REIT-Haskovo	2x	n/a	US$1.56m

No more companies

Price-To-Earnings vs Industry: FFI is good value based on its Price-To-Earnings Ratio (2x) compared to the European REITs industry average (22.2x).

Price to Earnings Ratio vs Fair Ratio

What is FFI'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.

FFI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	2x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate FFI's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.