Sino Land Company Limited

DB:SNO Stock Report

Market Cap: €8.3b

Sino Land Valuation

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

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: SNO (€0.94) is trading below our estimate of fair value (€2.79)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SNO. This is calculated by dividing SNO's market cap by their current earnings.
What is SNO's PE Ratio?
PE Ratio15.4x
EarningsHK$4.40b
Market CapHK$67.64b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SNO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average29.3x
INS Instone Real Estate Group
25.3x43.0%€356.1m
CRZK CR Energy
9.9x39.8%€124.2m
247 Tsim Sha Tsui Properties
16.6xn/aHK$41.6b
SPB Sedlmayr Grund und Immobilien
65.6xn/a€903.2m
SNO Sino Land
15.4x6.9%€67.6b

Price-To-Earnings vs Peers: SNO is good value based on its Price-To-Earnings Ratio (15.4x) compared to the peer average (29.3x).

Price to Earnings Ratio vs Industry

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

24 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SNO 15.4xIndustry Avg. 17.8xNo. of Companies32PE01224364860+
24 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SNO is good value based on its Price-To-Earnings Ratio (15.4x) compared to the European Real Estate industry average (18x).

Price to Earnings Ratio vs Fair Ratio

What is SNO'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.

SNO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.4x
Fair PE Ratio19.4x

Price-To-Earnings vs Fair Ratio: SNO is good value based on its Price-To-Earnings Ratio (15.4x) compared to the estimated Fair Price-To-Earnings Ratio (19.4x).

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 SNO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.94
€1.18
+25.8%
8.8%€1.37€0.96n/a13
Nov ’25€0.92
€1.16
+26.9%
9.0%€1.35€0.95n/a13
Oct ’25€1.03
€1.13
+9.4%
9.2%€1.32€0.93n/a13
Sep ’25€0.95
€1.13
+18.6%
8.5%€1.31€0.92n/a13
Aug ’25€0.94
€1.18
+26.7%
7.8%€1.35€0.99n/a13
Jul ’25€0.94
€1.20
+27.1%
7.7%€1.36€1.00n/a13
Jun ’25€0.98
€1.19
+21.7%
7.7%€1.35€0.99n/a13
May ’25€0.98
€1.22
+23.5%
6.3%€1.37€1.09n/a13
Apr ’25€0.94
€1.19
+25.8%
6.3%€1.33€1.07n/a13
Mar ’25€1.00
€1.20
+19.6%
6.4%€1.35€1.07n/a12
Feb ’25€0.94
€1.20
+26.6%
6.6%€1.35€1.09n/a11
Jan ’25€0.95
€1.27
+33.6%
9.0%€1.42€1.07n/a11
Dec ’24€0.92
€1.29
+41.1%
9.1%€1.45€1.09n/a11
Nov ’24€0.96
€1.29
+33.8%
9.1%€1.45€1.09€0.9211
Oct ’24€1.07
€1.34
+25.5%
10.5%€1.67€1.12€1.0312
Sep ’24€1.05
€1.33
+26.4%
10.4%€1.62€1.09€0.9512
Aug ’24€1.10
€1.35
+22.5%
9.7%€1.62€1.16€0.9412
Jul ’24€1.12
€1.37
+22.4%
9.6%€1.63€1.17€0.9412
Jun ’24€1.17
€1.35
+15.7%
8.9%€1.60€1.16€0.9812
May ’24€1.22
€1.35
+11.0%
8.9%€1.60€1.16€0.9812
Apr ’24€1.22
€1.39
+13.7%
8.8%€1.64€1.20€0.9412
Mar ’24€1.23
€1.41
+14.3%
9.1%€1.66€1.21€1.0013
Feb ’24€1.18
€1.39
+17.5%
10.5%€1.66€1.18€0.9413
Jan ’24€1.17
€1.38
+17.6%
11.3%€1.69€1.17€0.9513
Dec ’23€1.22
€1.42
+16.3%
11.5%€1.75€1.22€0.9213
Nov ’23€1.08
€1.51
+39.8%
12.7%€1.83€1.26€0.9613

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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