ACCENTRO Real Estate Valuation

Is A4Y 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 A4Y when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: A4Y (€0.28) is trading below our estimate of fair value (€56.84)

Significantly Below Fair Value: A4Y is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for A4Y?

Key metric: As A4Y is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for A4Y. This is calculated by dividing A4Y's market cap by their current revenue.
What is A4Y's PS Ratio?
PS Ratio	0.1x
Sales	€77.32m
Market Cap	€9.41m

A4Y 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	6.3x
Enterprise Value/EBITDA	-21.4x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does A4Y's PS Ratio compare to its peers?

The above table shows the PS ratio for A4Y 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	3.8x
DGR Deutsche Grundstücksauktionen	5.1x	n/a	€13.9m
AMMN Grounds Real Estate Development	0.6x	n/a	€9.3m
TTO TTL Beteiligungs- und Grundbesitz-AG	8.8x	n/a	€11.1m
PBY Publity	0.7x	n/a	€4.2m
A4Y ACCENTRO Real Estate	0.1x	5.2%	€9.4m

Price-To-Sales vs Peers: A4Y is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (3.8x).

Price to Sales Ratio vs Industry

How does A4Y's PS Ratio compare vs other companies in the DE Real Estate Industry?

10 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	3.8x	-11.1%
A4Y ACCENTRO Real Estate	0.1x	5.2%	US$9.86m
DMRE DEMIRE Deutsche Mittelstand Real Estate	0.5x	-42.0%	US$87.93m
ADJ Adler Group	0.1x	n/a	US$50.33m

10 Companies		Estimated Growth	Market Cap
Industry Avg.	3.8x	96.7%
A4Y ACCENTRO Real Estate	0.1x	62.9%	US$9.86m

No more companies

Price-To-Sales vs Industry: A4Y is good value based on its Price-To-Sales Ratio (0.1x) compared to the German Real Estate industry average (3.8x).

Price to Sales Ratio vs Fair Ratio

What is A4Y'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.

A4Y PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.1x
Fair PS Ratio	0.02x

Price-To-Sales vs Fair Ratio: A4Y is expensive based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0x).

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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