Echo Investment S.A.

DB:4I3 Stock Report

Market Cap: €561.9m

Echo Investment Valuation

Is 4I3 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 4I3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

€2.58
Fair Value
51.1% undervalued intrinsic discount
4
Number of Analysts

Below Fair Value: 4I3 (€1.26) is trading below our estimate of fair value (€2.58)

Significantly Below Fair Value: 4I3 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4I3?

Key metric: As 4I3 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 4I3. This is calculated by dividing 4I3's market cap by their current revenue.
What is 4I3's PS Ratio?
PS Ratio2.2x
Saleszł1.10b
Market Capzł2.39b

Price to Sales Ratio vs Peers

How does 4I3's PS Ratio compare to its peers?

The above table shows the PS ratio for 4I3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.8x
VIH1 VIB Vermögen
3.1xn/a€370.2m
GWK3 GAG Immobilien
1.9xn/a€816.4m
WCMK WCM Beteiligungs- und Grundbesitz-AG
5.1xn/a€287.4m
DWB Dinkelacker
13xn/a€314.4m
4I3 Echo Investment
2.2x21.19%€2.4b

Price-To-Sales vs Peers: 4I3 is good value based on its Price-To-Sales Ratio (2.2x) compared to the peer average (5.8x).

Price to Sales Ratio vs Industry

How does 4I3's PS Ratio compare vs other companies in the DE Real Estate Industry?

10 CompaniesPrice / SalesEstimated GrowthMarket Cap
4O7 Orascom Development Holding
0.5xn/aUS$388.70m
ADJ Adler Group
0.09xn/aUS$33.10m
3XR Xinyuan Real Estate
0.09xn/aUS$18.13m
NUVA Noratis
0.1x9.73%US$11.38m
4I3 2.2xIndustry Avg. 3.6xNo. of Companies10PS02.85.68.411.214+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 4I3 is good value based on its Price-To-Sales Ratio (2.2x) compared to the German Real Estate industry average (3.6x).

Price to Sales Ratio vs Fair Ratio

What is 4I3'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.

4I3 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.2x
Fair PS Ratio1.6x

Price-To-Sales vs Fair Ratio: 4I3 is expensive based on its Price-To-Sales Ratio (2.2x) compared to the estimated Fair Price-To-Sales Ratio (1.6x).

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 4I3 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€1.26
€1.22
-2.93%
24.00%€1.50€0.73n/a4
Oct ’26€1.28
€1.15
-10.03%
21.66%€1.36€0.73n/a4
Sep ’26€1.28
€1.16
-9.76%
21.66%€1.37€0.73n/a4
Aug ’26€1.21
€1.15
-5.21%
21.66%€1.36€0.72n/a4
Jul ’26€1.13
€1.11
-2.10%
20.15%€1.29€0.72n/a4
Jun ’26€1.08
€1.12
+4.15%
20.48%€1.32€0.73n/a4
May ’26€1.09
€1.11
+2.31%
20.48%€1.31€0.72n/a4
Apr ’26€1.10
€1.14
+3.84%
20.48%€1.34€0.74n/a4
Mar ’26€1.02
€1.13
+11.33%
20.48%€1.33€0.74n/a4
Feb ’26€1.01
€1.13
+11.88%
20.48%€1.33€0.74n/a4
Jan ’26€1.06
€1.11
+4.98%
20.48%€1.30€0.72n/a4
Dec ’25€1.01
€1.11
+10.21%
20.48%€1.30€0.72n/a4
Nov ’25€1.00
€1.08
+8.54%
19.57%€1.23€0.72€1.264
Oct ’25€0.97
€1.10
+12.96%
19.57%€1.24€0.73€1.284
Sep ’25€0.94
€1.02
+8.46%
19.80%€1.23€0.72€1.284
Aug ’25€0.94
€1.06
+11.79%
21.38%€1.29€0.72€1.214
Jul ’25€1.09
€1.05
-2.77%
21.38%€1.29€0.72€1.134
Jun ’25€1.07
€1.05
-1.41%
21.38%€1.29€0.72€1.084
May ’25€1.07
€0.94
-11.51%
22.42%€1.28€0.72€1.094
Apr ’25€1.03
€0.94
-8.03%
22.42%€1.28€0.72€1.104
Mar ’25€0.99
€0.94
-4.40%
22.42%€1.28€0.72€1.024
Feb ’25€0.95
€0.93
-2.17%
22.42%€1.26€0.71€1.014
Jan ’25€0.90
€0.94
+4.26%
22.41%€1.27€0.72€1.064
Dec ’24€0.88
€0.94
+6.62%
22.41%€1.27€0.72€1.014
Nov ’24€0.92
€0.91
-0.72%
22.41%€1.23€0.70€1.004
€1.13
Fair Value
11.8% overvalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/04 04:26
End of Day Share Price 2025/11/04 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Echo Investment S.A. is covered by 12 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kamil KliszczBiuro maklerskie mBanku
Piotr ZielonkaCitigroup Inc
Tomasz KrukowskiDeutsche Bank