LEG Immobilien SE

XTRA:LEG Stock Report

Market Cap: €5.9b

LEG Immobilien Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: LEG (€81.34) is trading above our estimate of fair value (€59.93)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for LEG. This is calculated by dividing LEG's market cap by their current revenue.
What is LEG's PS Ratio?
PS Ratio4.3x
Sales€1.41b
Market Cap€5.91b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for LEG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.9x
O5G CPI Property Group
4.1xn/a€6.7b
AT1 Aroundtown
2.1x2.3%€3.2b
GYC Grand City Properties
3.3x1.8%€2.0b
TEG TAG Immobilien
1.8x-33.9%€2.5b
LEG LEG Immobilien
4.3x-14.2%€6.1b

Price-To-Sales vs Peers: LEG is expensive based on its Price-To-Sales Ratio (4.3x) compared to the peer average (2.9x).

Price to Sales Ratio vs Industry

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

8 CompaniesPrice / SalesEstimated GrowthMarket Cap
DMRE DEMIRE Deutsche Mittelstand Real Estate
0.4x-42.0%US$75.93m
ADJ Adler Group
0.1xn/aUS$47.85m
NUVA Noratis
0.3x16.6%US$14.15m
A4Y ACCENTRO Real Estate
0.1x5.2%US$8.63m
LEG 4.3xIndustry Avg. 3.3xNo. of Companies8PS02.44.87.29.612+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: LEG is expensive based on its Price-To-Sales Ratio (4.3x) compared to the German Real Estate industry average (3.3x).

Price to Sales Ratio vs Fair Ratio

What is LEG'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.

LEG PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.3x
Fair PS Ratio2x

Price-To-Sales vs Fair Ratio: LEG is expensive based on its Price-To-Sales Ratio (4.3x) compared to the estimated Fair Price-To-Sales Ratio (2x).

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 LEG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€81.34
€98.86
+21.5%
12.9%€135.30€80.00n/a17
Dec ’25€87.74
€98.51
+12.3%
13.3%€135.30€80.00n/a17
Nov ’25€87.32
€96.78
+10.8%
13.9%€135.30€80.00n/a17
Oct ’25€96.10
€94.48
-1.7%
13.7%€135.30€80.00n/a17
Sep ’25€87.06
€91.07
+4.6%
14.6%€135.30€78.00n/a15
Aug ’25€83.24
€89.82
+7.9%
14.0%€134.70€77.90n/a17
Jul ’25€76.10
€89.18
+17.2%
14.3%€134.70€73.00n/a17
Jun ’25€81.24
€88.11
+8.5%
15.2%€134.70€73.00n/a17
May ’25€79.92
€87.09
+9.0%
15.7%€134.70€70.30n/a17
Apr ’25€79.58
€86.44
+8.6%
15.9%€134.70€70.30n/a17
Mar ’25€70.20
€83.85
+19.4%
19.3%€134.70€55.00n/a17
Feb ’25€76.04
€83.85
+10.3%
19.3%€134.70€55.00n/a17
Jan ’25€79.32
€79.89
+0.7%
20.9%€134.70€53.70n/a17
Dec ’24€72.92
€77.23
+5.9%
23.7%€134.70€50.50€87.7417
Nov ’24€60.54
€76.76
+26.8%
24.3%€134.70€51.00€87.3216
Oct ’24€65.34
€75.85
+16.1%
24.8%€134.70€51.00€96.1016
Sep ’24€66.46
€75.91
+14.2%
25.1%€134.70€51.00€87.0616
Aug ’24€63.12
€78.32
+24.1%
32.5%€162.30€51.00€83.2416
Jul ’24€52.64
€79.34
+50.7%
31.0%€162.30€54.80€76.1016
Jun ’24€47.98
€79.66
+66.0%
30.9%€162.30€55.00€81.2416
May ’24€56.38
€82.70
+46.7%
29.1%€162.30€55.00€79.9216
Apr ’24€50.48
€83.46
+65.3%
28.7%€162.30€55.00€79.5816
Mar ’24€66.94
€86.25
+28.9%
25.2%€162.30€62.00€70.2017
Feb ’24€71.58
€86.25
+20.5%
25.2%€162.30€62.00€76.0417
Jan ’24€60.86
€87.52
+43.8%
26.9%€162.30€57.00€79.3217
Dec ’23€61.06
€92.74
+51.9%
26.1%€162.30€57.00€72.9217

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/20 19:00
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

LEG Immobilien SE is covered by 37 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ruud Van MaanenABN AMRO Bank N.V.
Andre RemkeBaader Helvea Equity Research
Paul MayBarclays