Real Matters Inc.

DB:R3E Stock Report

Market Cap: €256.9m

Real Matters Valuation

Is R3E 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 R3E when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€13.78
Fair Value
75.2% undervalued intrinsic discount
6
Number of Analysts

Below Fair Value: R3E (€3.42) is trading below our estimate of fair value (€13.78)

Significantly Below Fair Value: R3E is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for R3E?

Key metric: As R3E is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for R3E. This is calculated by dividing R3E's market cap by their current revenue.
What is R3E's PS Ratio?
PS Ratio1.8x
SalesUS$169.37m
Market CapUS$299.46m

Price to Sales Ratio vs Peers

How does R3E's PS Ratio compare to its peers?

The above table shows the PS ratio for R3E vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.1x
DGR Deutsche Grundstücksauktionen
3.9x17.66%€11.0m
VIH1 VIB Vermögen
2.2x9.13%€239.3m
INS Instone Real Estate Group
1x17.66%€409.8m
WCMK WCM Beteiligungs- und Grundbesitz-AG
5.3xn/a€301.0m
R3E Real Matters
1.8x18.75%€411.5m

Price-To-Sales vs Peers: R3E is good value based on its Price-To-Sales Ratio (1.8x) compared to the peer average (3.1x).

Price to Sales Ratio vs Industry

How does R3E's PS Ratio compare vs other companies in the DE Real Estate Industry?

7 CompaniesPrice / SalesEstimated GrowthMarket Cap
4O7 Orascom Development Holding
0.5xn/aUS$388.70m
ADJ Adler Group
0.09xn/aUS$35.11m
NUVA Noratis
0.2x8.81%US$15.66m
2GI GIEAG Immobilien
0.6xn/aUS$11.71m
R3E 1.8xIndustry Avg. 3.2xNo. of Companies7PS02.44.87.29.612+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: R3E is good value based on its Price-To-Sales Ratio (1.8x) compared to the German Real Estate industry average (3.2x).

Price to Sales Ratio vs Fair Ratio

What is R3E'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.

R3E PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.8x
Fair PS Ratio1x

Price-To-Sales vs Fair Ratio: R3E is expensive based on its Price-To-Sales Ratio (1.8x) compared to the estimated Fair Price-To-Sales Ratio (1x).

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 R3E forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€3.42
€4.50
+31.68%
21.91%€6.56€3.59n/a6
Jul ’26€3.40
€5.02
+47.60%
19.78%€7.05€4.16n/a6
Jun ’26€3.60
€5.02
+39.40%
19.78%€7.05€4.16n/a6
May ’26€3.76
€5.02
+33.47%
19.78%€7.05€4.16n/a6
Apr ’26€3.68
€5.25
+42.61%
22.43%€7.70€4.16n/a6
Mar ’26€3.78
€5.44
+43.96%
23.05%€8.06€4.31n/a6
Feb ’26€4.08
€5.49
+34.56%
20.91%€8.03€4.33n/a7
Jan ’26€4.34
€5.80
+33.61%
14.12%€7.36€4.77n/a7
Dec ’25€4.42
€5.87
+32.71%
14.77%€7.57€4.81n/a7
Nov ’25€4.56
€6.28
+37.77%
12.53%€7.33€5.00n/a7
Oct ’25€5.95
€5.75
-3.43%
13.49%€7.10€4.84n/a7
Sep ’25€4.98
€5.65
+13.35%
12.56%€7.27€4.96n/a7
Aug ’25€4.98
€5.08
+2.05%
14.91%€6.69€4.35€3.167
Jul ’25€4.16
€4.99
+20.04%
15.48%€6.72€4.36€3.407
Jun ’25€3.80
€4.99
+31.41%
15.48%€6.72€4.36€3.607
May ’25€3.44
€5.08
+47.57%
15.70%€6.82€4.43€3.767
Apr ’25€4.12
€5.00
+21.42%
16.03%€6.78€4.41€3.687
Mar ’25€4.04
€5.07
+25.58%
16.09%€6.89€4.48€3.787
Feb ’25€4.72
€4.67
-1.13%
18.45%€6.18€3.52€4.087
Jan ’25€4.30
€4.44
+3.32%
18.85%€5.99€3.49€4.347
Dec ’24€3.66
€4.44
+21.39%
18.85%€5.99€3.49€4.427
Nov ’24€3.28
€4.99
+52.01%
17.14%€6.60€3.79€4.567
Oct ’24€4.38
€5.18
+18.35%
16.17%€6.64€4.07€5.957
Sep ’24€4.58
€5.18
+13.18%
16.17%€6.64€4.07€4.987
Aug ’24€4.62
€5.14
+11.27%
15.77%€6.57€4.13€4.987
AnalystConsensusTarget
Consensus Narrative from 6 Analysts
€4.41
Fair Value
22.4% undervalued intrinsic discount
6
Number of Analysts

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 Analysis2025/08/06 09:08
End of Day Share Price 2025/08/06 00:00
Earnings2025/06/30
Annual Earnings2024/09/30

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.

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

Real Matters Inc. is covered by 9 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Martin TonerATB Capital Markets
Thanos MoschopoulosBMO Capital Markets Equity Research
David Ridley-LaneBofA Global Research