Leopalace21 Corporation

DB:MQI Stock Report

Market Cap: €972.0m

Leopalace21 Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: MQI (€2.94) is trading below our estimate of fair value (€10.56)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for MQI. This is calculated by dividing MQI's market cap by their current earnings.
What is MQI's PE Ratio?
PE Ratio3.9x
EarningsJP¥40.81b
Market CapJP¥157.89b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MQI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average30.8x
SPB Sedlmayr Grund und Immobilien
65.6xn/a€903.2m
GWK3 GAG Immobilien
24.4xn/a€816.4m
VIH1 VIB Vermögen
3.8x-19.3%€335.2m
DWB Dinkelacker
29.3xn/a€299.9m
MQI Leopalace21
3.9x-9.6%€157.9b

Price-To-Earnings vs Peers: MQI is good value based on its Price-To-Earnings Ratio (3.9x) compared to the peer average (30.8x).

Price to Earnings Ratio vs Industry

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

20 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MQI 3.9xIndustry Avg. 17.8xNo. of Companies33PE01224364860+
20 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MQI is good value based on its Price-To-Earnings Ratio (3.9x) compared to the European Real Estate industry average (18.1x).

Price to Earnings Ratio vs Fair Ratio

What is MQI'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.

MQI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.9x
Fair PE Ratio10.8x

Price-To-Earnings vs Fair Ratio: MQI is good value based on its Price-To-Earnings Ratio (3.9x) compared to the estimated Fair Price-To-Earnings Ratio (10.8x).

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 MQI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€2.94
€3.64
+23.8%
0.8%€3.67€3.61n/a2
Nov ’25€3.24
€3.70
+14.2%
0.8%€3.73€3.67n/a2
Oct ’25€3.66
€3.70
+1.1%
0.8%€3.73€3.67n/a2
Sep ’25€3.62
€3.70
+2.2%
0.8%€3.73€3.67n/a2
May ’25€3.04
€2.70
-11.3%
2.3%€2.76€2.63n/a2
Apr ’25€3.00
€2.70
-10.1%
2.3%€2.76€2.63n/a2
Mar ’25€2.74
€2.70
-1.6%
2.3%€2.76€2.63n/a2
Feb ’25€2.52
€2.35
-6.9%
10.5%€2.59€2.10n/a2
Jan ’25€2.66
€2.35
-11.8%
10.5%€2.59€2.10n/a2
Dec ’24€2.80
€2.35
-16.2%
10.5%€2.59€2.10n/a2
Nov ’24€1.99
€2.34
+17.7%
6.8%€2.50€2.18€3.242
Oct ’24€2.02
€2.15
+6.4%
14.7%€2.47€1.83€3.662
Sep ’24€2.22
€2.15
-3.1%
14.7%€2.47€1.83€3.622
Aug ’24€1.89
€2.10
+11.3%
7.9%€2.27€1.94€3.162
Jul ’24€1.65
€2.10
+27.4%
7.9%€2.27€1.94€2.942
Jun ’24€1.95
€2.14
+9.9%
6.2%€2.28€2.01€3.022
May ’24€2.34
€2.32
-0.7%
10.4%€2.57€2.08€3.042
Apr ’24€2.40
€2.32
-3.2%
10.4%€2.57€2.08€3.002
Mar ’24€2.16
€2.32
+7.6%
10.4%€2.57€2.08€2.742
Feb ’24€2.20
€2.32
+5.6%
10.4%€2.57€2.08€2.522
Jan ’24€2.00
€2.32
+16.2%
10.4%€2.57€2.08€2.662
Dec ’23€2.04
€2.32
+13.9%
10.4%€2.57€2.08€2.802
Nov ’23€1.89
€2.32
+22.9%
11.8%€2.60€2.05€1.992

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

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