Swiss Prime Site AG

SWX:SPSN Stock Report

Market Cap: CHF 7.4b

Swiss Prime Site Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: SPSN (CHF95.85) is trading above our estimate of fair value (CHF34.23)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SPSN. This is calculated by dividing SPSN's market cap by their current earnings.
What is SPSN's PE Ratio?
PE Ratio39.9x
EarningsCHF 185.50m
Market CapCHF 7.41b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SPSN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.6x
PSPN PSP Swiss Property
20.6x0.08%CHF 5.7b
MOBN Mobimo Holding
25.9x11.0%CHF 2.0b
ISN Intershop Holding
13.8xn/aCHF 1.1b
EPIC EPIC Suisse
26xn/aCHF 760.3m
SPSN Swiss Prime Site
39.9x17.3%CHF 7.4b

Price-To-Earnings vs Peers: SPSN is expensive based on its Price-To-Earnings Ratio (39.9x) compared to the peer average (21.6x).

Price to Earnings Ratio vs Industry

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

23 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SPSN 39.9xIndustry Avg. 18.2xNo. of Companies31PE01224364860+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SPSN is expensive based on its Price-To-Earnings Ratio (39.9x) compared to the European Real Estate industry average (18.2x).

Price to Earnings Ratio vs Fair Ratio

What is SPSN'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.

SPSN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio39.9x
Fair PE Ratio33.9x

Price-To-Earnings vs Fair Ratio: SPSN is expensive based on its Price-To-Earnings Ratio (39.9x) compared to the estimated Fair Price-To-Earnings Ratio (33.9x).

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 SPSN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 95.85
CHF 99.86
+4.2%
4.9%CHF 108.00CHF 92.00n/a7
Nov ’25CHF 94.35
CHF 99.86
+5.8%
4.9%CHF 108.00CHF 92.00n/a7
Oct ’25CHF 95.55
CHF 98.50
+3.1%
4.0%CHF 105.00CHF 92.00n/a6
Sep ’25CHF 95.60
CHF 94.00
-1.7%
8.4%CHF 105.00CHF 80.00n/a6
Aug ’25CHF 88.05
CHF 93.17
+5.8%
8.1%CHF 105.00CHF 80.00n/a6
Jul ’25CHF 85.00
CHF 93.17
+9.6%
8.1%CHF 105.00CHF 80.00n/a6
Jun ’25CHF 83.30
CHF 93.17
+11.8%
8.1%CHF 105.00CHF 80.00n/a6
May ’25CHF 85.10
CHF 93.17
+9.5%
8.1%CHF 105.00CHF 80.00n/a6
Apr ’25CHF 85.05
CHF 92.50
+8.8%
8.3%CHF 105.00CHF 80.00n/a6
Mar ’25CHF 85.30
CHF 91.83
+7.7%
8.7%CHF 105.00CHF 80.00n/a6
Feb ’25CHF 87.10
CHF 91.50
+5.1%
9.8%CHF 105.00CHF 80.00n/a6
Jan ’25CHF 89.85
CHF 90.67
+0.9%
9.9%CHF 105.00CHF 80.00n/a6
Dec ’24CHF 88.00
CHF 87.80
-0.2%
7.9%CHF 96.00CHF 80.00n/a5
Nov ’24CHF 83.85
CHF 87.80
+4.7%
7.9%CHF 96.00CHF 80.00CHF 94.355
Oct ’24CHF 83.95
CHF 87.20
+3.9%
8.1%CHF 96.00CHF 80.00CHF 95.555
Sep ’24CHF 83.60
CHF 88.67
+6.1%
8.1%CHF 96.00CHF 80.00CHF 95.606
Aug ’24CHF 84.40
CHF 87.40
+3.6%
8.3%CHF 96.00CHF 80.00CHF 88.055
Jul ’24CHF 77.65
CHF 87.40
+12.6%
8.3%CHF 96.00CHF 80.00CHF 85.005
Jun ’24CHF 76.65
CHF 87.40
+14.0%
8.3%CHF 96.00CHF 80.00CHF 83.305
May ’24CHF 80.85
CHF 89.50
+10.7%
7.1%CHF 96.00CHF 80.00CHF 85.106
Apr ’24CHF 76.05
CHF 90.83
+19.4%
9.0%CHF 104.00CHF 80.00CHF 85.056
Mar ’24CHF 78.95
CHF 90.50
+14.6%
9.3%CHF 104.00CHF 80.00CHF 85.306
Feb ’24CHF 81.60
CHF 90.50
+10.9%
9.3%CHF 104.00CHF 80.00CHF 87.106
Jan ’24CHF 80.15
CHF 93.00
+16.0%
8.2%CHF 104.00CHF 83.00CHF 89.856
Dec ’23CHF 79.00
CHF 93.00
+17.7%
8.2%CHF 104.00CHF 83.00CHF 88.006
Nov ’23CHF 81.10
CHF 94.83
+16.9%
7.2%CHF 104.00CHF 83.00CHF 83.856

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

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