PSP Swiss Property Valuation

Q: What is the Fair Price of P7S0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

P7S0 (€25.8) is trading above our estimate of [[fair value]] (€10.95)

Is P7S0 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-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 P7S0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: P7S0 (€25.8) is trading above our estimate of fair value (€10.95)

Significantly Below Fair Value: P7S0 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for P7S0?

Key metric: As P7S0 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for P7S0. This is calculated by dividing P7S0's market cap by their current earnings.
What is P7S0's PE Ratio?
PE Ratio	20.6x
Earnings	CHF 278.19m
Market Cap	CHF 5.73b

P7S0 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	25.6x
Enterprise Value/EBITDA	30.5x
PEG Ratio	273.5x

Price to Earnings Ratio vs Peers

How does P7S0's PE Ratio compare to its peers?

The above table shows the PE ratio for P7S0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	31.2x
SPB Sedlmayr Grund und Immobilien	65.6x	n/a	€903.2m
GWK3 GAG Immobilien	25.4x	n/a	€848.5m
VIH1 VIB Vermögen	3.9x	-19.3%	€338.5m
DWB Dinkelacker	29.9x	n/a	€305.7m
P7S0 PSP Swiss Property	20.6x	0.08%	€5.7b

Price-To-Earnings vs Peers: P7S0 is good value based on its Price-To-Earnings Ratio (20.6x) compared to the peer average (31.2x).

Price to Earnings Ratio vs Industry

How does P7S0's PE Ratio compare vs other companies in the European Real Estate Industry?

23 Companies	Price / Earnings	Estimated Growth	Market Cap

23 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: P7S0 is expensive based on its Price-To-Earnings Ratio (20.6x) compared to the European Real Estate industry average (18.2x).

Price to Earnings Ratio vs Fair Ratio

What is P7S0'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.

P7S0 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	20.6x
Fair PE Ratio	15.1x

Price-To-Earnings vs Fair Ratio: P7S0 is expensive based on its Price-To-Earnings Ratio (20.6x) compared to the estimated Fair Price-To-Earnings Ratio (15.1x).

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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