Adler Real Estate AG

XTRA:ADL Stock Report

Market Cap: €980.4m

Adler Real Estate Valuation

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

Below Fair Value: ADL (€8.96) is trading above our estimate of fair value (€0.59)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for ADL. This is calculated by dividing ADL's market cap by their current revenue.
What is ADL's PS Ratio?
PS Ratio2.1x
Sales€470.09m
Market Cap€980.38m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for ADL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.3x
SPB Sedlmayr Grund und Immobilien
6.7xn/a€903.2m
GWK3 GAG Immobilien
1.8xn/a€800.4m
DEQ Deutsche EuroShop
5.4x1.1%€1.5b
GYC Grand City Properties
3.3x1.5%€2.0b
ADL Adler Real Estate
2.1xn/a€980.4m

Price-To-Sales vs Peers: ADL is good value based on its Price-To-Sales Ratio (2.1x) compared to the peer average (5.1x).

Price to Sales Ratio vs Industry

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

10 CompaniesPrice / SalesEstimated GrowthMarket Cap
DIC Branicks Group
0.7x-21.8%US$195.99m
DMRE DEMIRE Deutsche Mittelstand Real Estate
0.5x-42.0%US$87.93m
ADJ Adler Group
0.1xn/aUS$49.02m
NUVA Noratis
0.3x16.6%US$16.12m
ADL 2.1xIndustry Avg. 3.6xNo. of Companies10PS02.85.68.411.214+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ADL is good value based on its Price-To-Sales Ratio (2.1x) compared to the German Real Estate industry average (3.1x).

Price to Sales Ratio vs Fair Ratio

What is ADL'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.

ADL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.1x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate ADL'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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