New World Development Company Limited

DB:NWDA Stock Report

Market Cap: €1.7b

New World Development Valuation

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

Below Fair Value: NWDA (€0.63) is trading below our estimate of fair value (€2.12)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for NWDA. This is calculated by dividing NWDA's market cap by their current revenue.
What is NWDA's PS Ratio?
PS Ratio0.4x
SalesHK$35.78b
Market CapHK$13.54b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for NWDA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.3x
PAT PATRIZIA
2.5x3.7%€673.4m
DIC Branicks Group
0.7x-21.8%€182.2m
FC9 FCR Immobilien
2.8x5.1%€104.6m
GYC Grand City Properties
3.3x1.8%€2.0b
NWDA New World Development
0.4x2.9%€13.5b

Price-To-Sales vs Peers: NWDA is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (2.3x).

Price to Sales Ratio vs Industry

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

10 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.3.3x-14.4%
NWDA New World Development
 0.4x2.9%US$1.74b
DMRE DEMIRE Deutsche Mittelstand Real Estate
0.4x-42.0%US$76.97m
ADJ Adler Group
0.1xn/aUS$49.08m
NWDA 0.4xIndustry Avg. 3.3xNo. of Companies9PS02.44.87.29.612+
10 CompaniesEstimated GrowthMarket Cap
Industry Avg.3.3x96.1%
NWDA New World Development
 0.4x84.3%US$1.74b
No more companies

Price-To-Sales vs Industry: NWDA is good value based on its Price-To-Sales Ratio (0.4x) compared to the German Real Estate industry average (3.3x).

Price to Sales Ratio vs Fair Ratio

What is NWDA'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.

NWDA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.4x
Fair PS Ratio1.2x

Price-To-Sales vs Fair Ratio: NWDA is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).

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 NWDA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.63
€0.87
+38.7%
28.4%€1.36€0.25n/a16
Dec ’25€0.77
€0.96
+24.6%
23.7%€1.50€0.68n/a16
Nov ’25€0.90
€0.96
+6.4%
21.7%€1.45€0.66n/a16
Oct ’25€1.15
€0.91
-21.2%
23.3%€1.42€0.65n/a16
Sep ’25€0.90
€1.03
+14.4%
25.0%€1.68€0.71n/a16
Aug ’25€0.82
€1.03
+24.8%
25.0%€1.68€0.71n/a16
Jul ’25€0.84
€1.07
+27.9%
22.2%€1.70€0.72n/a16
Jun ’25€1.01
€1.08
+6.7%
20.5%€1.68€0.76n/a16
May ’25€0.98
€1.14
+15.9%
18.9%€1.70€0.81n/a16
Apr ’25€0.94
€1.20
+26.5%
16.4%€1.68€0.95n/a16
Mar ’25€1.06
€1.25
+18.1%
25.5%€2.24€0.94n/a16
Feb ’25€1.12
€1.50
+34.1%
26.0%€2.37€1.09n/a15
Jan ’25€1.45
€1.57
+8.4%
25.6%€2.32€1.07n/a15
Dec ’24€1.35
€1.85
+36.9%
23.3%€2.39€1.16€0.7712
Nov ’24€1.71
€1.94
+13.3%
20.6%€2.45€1.31€0.9011
Oct ’24€1.77
€2.56
+44.9%
24.6%€3.66€1.45€1.1511
Sep ’24€1.91
€2.62
+37.1%
18.9%€3.54€1.81€0.9011
Aug ’24€2.22
€2.62
+18.0%
18.9%€3.54€1.81€0.8211
Jul ’24€2.26
€2.71
+20.0%
18.2%€3.56€1.82€0.8413
Jun ’24€2.18
€3.03
+39.1%
27.6%€5.37€1.85€1.0115
May ’24€2.40
€2.96
+23.4%
27.1%€5.20€1.79€0.9815
Apr ’24€2.48
€3.03
+22.2%
27.7%€5.32€1.83€0.9415
Mar ’24€2.66
€3.08
+15.7%
28.0%€5.42€1.87€1.0615
Feb ’24€2.82
€2.99
+6.0%
30.9%€5.28€1.82€1.1215
Jan ’24€2.66
€2.98
+11.9%
35.2%€5.38€1.85€1.4515
Dec ’23€2.24
€3.13
+39.6%
34.2%€5.58€1.92€1.3515

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/27 12:19
End of Day Share Price 2024/12/23 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

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

New World Development Company Limited is covered by 36 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kwok Yi LouieBarclays
Andrew LawrenceBarclays
Wee Liat LeeBNP Paribas Securities (Asia)