Swiss Estates Valuation

Is SEAP 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-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: SEAP (CHF1.78) is trading below our estimate of fair value (CHF7.17)

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

Key Valuation Metric

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

Key metric: As SEAP is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for SEAP. This is calculated by dividing SEAP's market cap by their current revenue.
What is SEAP's PS Ratio?
PS Ratio	1.5x
Sales	CHF 7.44m
Market Cap	CHF 11.20m

SEAP 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	18x
Enterprise Value/EBITDA	36.9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does SEAP's PS Ratio compare to its peers?

The above table shows the PS ratio for SEAP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	5.6x
MAXIMA Promaxima Immobilien	2.8x	n/a	CHF 1.8m
ZUBN Züblin Immobilien Holding	11.2x	n/a	CHF 100.8m
SEGN Procimmo Group	5.8x	n/a	CHF 178.8m
VARN Varia US Properties	2.4x	29.2%	CHF 266.3m
SEAP Swiss Estates	1.5x	12.3%	CHF 11.2m

Price-To-Sales vs Peers: SEAP is good value based on its Price-To-Sales Ratio (1.5x) compared to the peer average (5.5x).

Price to Sales Ratio vs Industry

How does SEAP's PS Ratio compare vs other companies in the CH Real Estate Industry?

3 Companies	Price / Sales	Estimated Growth	Market Cap
ADMI Admicasa Holding	0.9x	n/a	US$15.09m
ARON Arundel	0.2x	n/a	US$1.61m
AHAN ACRON HELVETIA I Immobilien	0.4x	n/a	US$381.73k

No more companies available in this PS range

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: SEAP is good value based on its Price-To-Sales Ratio (1.5x) compared to the Swiss Real Estate industry average (9.3x).

Price to Sales Ratio vs Fair Ratio

What is SEAP's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SEAP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.5x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate SEAP's Price-To-Sales 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.

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