Zenith Properties REIT Valuation

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

ZENP (BGN3.24) is trading below our estimate of [[fair value]] (BGN110.41)

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

Below Fair Value: ZENP (BGN3.24) is trading below our estimate of fair value (BGN110.41)

Significantly Below Fair Value: ZENP is trading below fair value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ZENP. This is calculated by dividing ZENP's market cap by their current earnings.
What is ZENP's PE Ratio?
PE Ratio	56.9x
Earnings	лв37.00k
Market Cap	лв2.11m

ZENP 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	43.8x
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ZENP 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	13.9x
FFI Forucom REIT-Haskovo	2x	n/a	лв2.9m
SLSP SLS Realty REIT	4.3x	n/a	лв18.0m
PREM Premier Fund REIT	39.2x	n/a	лв24.8m
SBPF Super Borovets Property Fund REIT	9.9x	n/a	лв73.4m
ZENP Zenith Properties REIT	56.9x	n/a	лв2.1m

Price-To-Earnings vs Peers: ZENP is expensive based on its Price-To-Earnings Ratio (56.9x) compared to the peer average (13.5x).

Price to Earnings Ratio vs Industry

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

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: ZENP is expensive based on its Price-To-Earnings Ratio (56.9x) compared to the European REITs industry average (17.8x).

Price to Earnings Ratio vs Fair Ratio

What is ZENP'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.

ZENP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	56.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ZENP'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.