XTRA:FC9

Stock Analysis Report

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Executive Summary

FCR Immobilien & Vermögensverwaltungs GmbH & Co. More Details


Snowflake Analysis

Undervalued with high growth potential.

Share Price & News

How has FCR Immobilien's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FC9 is less volatile than 75% of German stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: FC9's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

1.8%

FC9

-0.3%

DE Real Estate

0.4%

DE Market


1 Year Return

-0.9%

FC9

5.4%

DE Real Estate

2.3%

DE Market

Return vs Industry: FC9 underperformed the German Real Estate industry which returned 4.6% over the past year.

Return vs Market: FC9 underperformed the German Market which returned 2% over the past year.


Shareholder returns

FC9IndustryMarket
7 Day1.8%-0.3%0.4%
30 Day3.6%3.2%9.4%
90 Day-2.5%0.4%4.0%
1 Year2.5%-0.9%8.1%5.4%5.6%2.3%
3 Yearn/a21.2%12.1%4.4%-4.7%
5 Yearn/a72.9%53.0%26.8%9.0%

Long-Term Price Volatility Vs. Market

How volatile is FCR Immobilien's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is FCR Immobilien undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FC9 (€11.6) is trading below our estimate of fair value (€34.37)

Significantly Below Fair Value: FC9 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FC9 is good value based on its PE Ratio (8.8x) compared to the DE Real Estate industry average (12.1x).

PE vs Market: FC9 is good value based on its PE Ratio (8.8x) compared to the German market (23.2x).


Price to Earnings Growth Ratio

PEG Ratio: FC9 is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: FC9's PB Ratio (1.2x) is in line with the DE Real Estate industry average.


Next Steps

Future Growth

How is FCR Immobilien forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

27.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FC9's forecast earnings growth (27.3% per year) is above the savings rate (0.2%).

Earnings vs Market: FC9's earnings (27.3% per year) are forecast to grow faster than the German market (27.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FC9's revenue (25.4% per year) is forecast to grow faster than the German market (5.9% per year).

High Growth Revenue: FC9's revenue (25.4% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FC9's Return on Equity is forecast to be low in 3 years time (15.9%).


Next Steps

Past Performance

How has FCR Immobilien performed over the past 5 years?

53.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FC9 has a large one-off gain of €7.3M impacting its June 30 2020 financial results.

Growing Profit Margin: FC9's current net profit margins (34%) are lower than last year (59.7%).


Past Earnings Growth Analysis

Earnings Trend: FC9's earnings have grown significantly by 53% per year over the past 5 years.

Accelerating Growth: FC9's earnings growth over the past year (34%) is below its 5-year average (53% per year).

Earnings vs Industry: FC9 earnings growth over the past year (34%) exceeded the Real Estate industry 0.09%.


Return on Equity

High ROE: FC9's Return on Equity (10.2%) is considered low.


Next Steps

Financial Health

How is FCR Immobilien's financial position?


Financial Position Analysis

Short Term Liabilities: FC9's short term assets (€18.2M) do not cover its short term liabilities (€18.8M).

Long Term Liabilities: FC9's short term assets (€18.2M) do not cover its long term liabilities (€232.1M).


Debt to Equity History and Analysis

Debt Level: FC9's debt to equity ratio (259.7%) is considered high.

Reducing Debt: FC9's debt to equity ratio has reduced from 468.8% to 259.7% over the past 5 years.

Debt Coverage: FC9's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: FC9's interest payments on its debt are not well covered by EBIT (1.4x coverage).


Balance Sheet


Next Steps

Dividend

What is FCR Immobilien current dividend yield, its reliability and sustainability?

2.59%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FC9's dividend (2.59%) is higher than the bottom 25% of dividend payers in the German market (1.14%).

High Dividend: FC9's dividend (2.59%) is low compared to the top 25% of dividend payers in the German market (3.72%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FC9 has been paying a dividend for less than 10 years.

Growing Dividend: FC9's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (22.7%), FC9's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FC9's dividends in 3 years are forecast to be well covered by earnings (25.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.6yrs

Average management tenure


CEO

FCR Immobilien has no CEO, or we have no data on them.


Leadership Team

NamePositionTenureCompensationOwnership
Falk Raudies
Founder & Member of Management Boardno datano data0.15%
€ 158.2k
Janine Klausch
Head of Asset Management1.33yrsno datano data
Lucas Schaut
Head of Innovation1.33yrsno datano data
Christoph Schillmaier
Head of Origination1.92yrsno datano data
Christian Musacchio
Head of Asset Management1.92yrsno datano data

1.6yrs

Average Tenure

Experienced Management: FC9's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Hanjo Schneider
Deputy Chairman of the Supervisory Board0.42yrno datano data
Ludwig Fuchs
Member of the Supervisory Board0.92yrno datano data
Franz-Joseph Busse
Chairman of Supervisory Board1.42yrsno datano data

0.9yrs

Average Tenure

Experienced Board: FC9's board of directors are not considered experienced ( 0.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

FCR Immobilien AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: FCR Immobilien AG
  • Ticker: FC9
  • Exchange: XTRA
  • Founded:
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Market Cap: €106.098m
  • Shares outstanding: 9.15m
  • Website: https://www.fcr-immobilien.de

Number of Employees


Location

  • FCR Immobilien AG
  • Paul-Heyse-Strasse 28
  • Munich
  • Bavaria
  • 80336
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FC9DB (Deutsche Boerse AG)YesShare CapitalDEEURNov 2018
FC9XTRA (XETRA Trading Platform)YesShare CapitalDEEURNov 2018

Biography

FCR Immobilien & Vermögensverwaltungs GmbH & Co. KG is based in Krailling, Germany.


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/03 20:03
End of Day Share Price2020/12/02 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.