Loading...

Gateway Real Estate

XTRA:H1I
Snowflake Description

Solid track record with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
H1I
XTRA
€697M
Market Cap
  1. Home
  2. DE
  3. Real Estate
Company description

Gateway Real Estate AG invests in, develops, and manages real estate properties in Germany. The last earnings update was 15 days ago. More info.


Add to Portfolio Compare Print
H1I Share Price and Events
7 Day Returns
0.3%
XTRA:H1I
1.6%
DE Real Estate
-3.6%
DE Market
1 Year Returns
-
XTRA:H1I
4.1%
DE Real Estate
-11.8%
DE Market
H1I Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Gateway Real Estate (H1I) 0.3% -2.6% - - - -
DE Real Estate 1.6% -5.1% -2.7% 4.1% 39.1% 121.8%
DE Market -3.6% -2.1% -0.8% -11.8% 12% 5.8%
1 Year Return vs Industry and Market
  • No trading data on H1I.
  • No trading data on H1I.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Gateway Real Estate undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
  • It is not possible to calculate the future cash flow value for Gateway Real Estate. This is due to cash flow or dividend data being unavailable. The share price is €3.73.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Gateway Real Estate's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Gateway Real Estate's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XTRA:H1I PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.17
XTRA:H1I Share Price ** XTRA (2019-06-14) in EUR €3.73
Germany Real Estate Industry PE Ratio Median Figure of 35 Publicly-Listed Real Estate Companies 13.22x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.7x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Gateway Real Estate.

XTRA:H1I PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:H1I Share Price ÷ EPS (both in EUR)

= 3.73 ÷ 0.17

22.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gateway Real Estate is overvalued based on earnings compared to the DE Real Estate industry average.
  • Gateway Real Estate is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Gateway Real Estate's expected growth come at a high price?
Raw Data
XTRA:H1I PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
2.2%per year
Germany Real Estate Industry PEG Ratio Median Figure of 20 Publicly-Listed Real Estate Companies 0.58x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Gateway Real Estate, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Gateway Real Estate's assets?
Raw Data
XTRA:H1I PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €0.84
XTRA:H1I Share Price * XTRA (2019-06-14) in EUR €3.73
Germany Real Estate Industry PB Ratio Median Figure of 42 Publicly-Listed Real Estate Companies 1.3x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
XTRA:H1I PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:H1I Share Price ÷ Book Value per Share (both in EUR)

= 3.73 ÷ 0.84

4.44x

* Primary Listing of Gateway Real Estate.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gateway Real Estate is overvalued based on assets compared to the DE Real Estate industry average.
X
Value checks
We assess Gateway Real Estate's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Gateway Real Estate has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Gateway Real Estate expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

  • No analysts cover Gateway Real Estate, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Gateway Real Estate expected to grow at an attractive rate?
  • Gateway Real Estate's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Gateway Real Estate's earnings growth is positive but not above the Germany market average.
  • Gateway Real Estate's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
XTRA:H1I Future Growth Rates Data Sources
Data Point Source Value (per year)
XTRA:H1I Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 2.2%
XTRA:H1I Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 39.5%
Germany Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -3.4%
Germany Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
XTRA:H1I Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XTRA:H1I Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 885 232 1
2022-12-31 790 159 1
2021-12-31 734 153 1
2020-12-31 418 -121 1
2019-12-31 120 -144 1
XTRA:H1I Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 27 -38 32
2018-12-31 19 -64 33
2018-03-31 7 -140 3
2017-12-31 7 -105 6
2016-12-31 7 1 6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Gateway Real Estate's earnings are expected to grow by 2.2% yearly, however this is not considered high growth (20% yearly).
  • Gateway Real Estate's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
XTRA:H1I Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Gateway Real Estate Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:H1I Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31
XTRA:H1I Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.17
2018-12-31 0.22
2018-03-31 0.02
2017-12-31 0.04
2016-12-31 0.48

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Gateway Real Estate will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Gateway Real Estate's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Gateway Real Estate has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Gateway Real Estate performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Gateway Real Estate's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Gateway Real Estate has delivered over 20% year on year earnings growth in the past 5 years.
  • Gateway Real Estate's 1-year earnings growth exceeds its 5-year average (921.5% vs 64.2%)
  • Gateway Real Estate's earnings growth has exceeded the DE Real Estate industry average in the past year (921.5% vs 7.1%).
Earnings and Revenue History
Gateway Real Estate's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Gateway Real Estate Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:H1I Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 27.15 32.00 8.00
2018-12-31 18.57 33.24 7.35
2018-03-31 7.25 3.13 7.33
2017-12-31 6.94 6.04 5.92
2016-12-31 6.92 6.28 1.25
2015-12-31 1.17 -0.34 0.56
2014-12-31 9.85 -1.65 1.42
2013-12-31 42.55 2.17 1.80
2012-12-31 15.28 0.32 1.76

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Gateway Real Estate has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Gateway Real Estate used its assets more efficiently than the DE Real Estate industry average last year based on Return on Assets.
  • Gateway Real Estate has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Gateway Real Estate's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Gateway Real Estate has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Gateway Real Estate's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Gateway Real Estate's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Gateway Real Estate is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Gateway Real Estate's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Gateway Real Estate's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Gateway Real Estate Company Filings, last reported 2 months ago.

XTRA:H1I Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 145.54 486.43 49.98
2018-12-31 148.43 590.11 85.67
2018-03-31 17.15 179.12 14.67
2017-12-31 17.15 179.12 14.67
2016-12-31 26.70 103.52 17.87
2015-12-31 1.84 3.22 0.95
2014-12-31 1.91 1.95 2.26
2013-12-31 3.56 17.41 1.03
2012-12-31 1.39 0.00 5.51
  • Gateway Real Estate's level of debt (334.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (431.2% vs 334.2% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are not well covered by earnings (EBIT is 0.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Gateway Real Estate's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Gateway Real Estate has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Gateway Real Estate's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Gateway Real Estate dividends. Estimated to be 6.13% next year.
If you bought €2,000 of Gateway Real Estate shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Gateway Real Estate's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Gateway Real Estate's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
XTRA:H1I Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Germany Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 25 Stocks 2.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

XTRA:H1I Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.34 1.00
2020-12-31 0.22 1.00
2019-12-31 0.12 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Gateway Real Estate has not reported any payouts.
  • Unable to verify if Gateway Real Estate's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Gateway Real Estate's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Gateway Real Estate has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Gateway Real Estate's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Gateway Real Estate afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Gateway Real Estate has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Gateway Real Estate's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Gateway Real Estate has no CEO, or we have no data on them.
Management Team

Tobias Meibom

TITLE
CFO & Member of the Management Board
TENURE
0.6 yrs

Jan-Hauke Jendrny

TITLE
Head of Investor Relations & Strategy
Board of Directors

Norbert Ketterer

TITLE
Chairman of the Supervisory Board

Thomas Kunze

TITLE
Member of the Supervisory Board

Ferdinand Von Rom

TITLE
Member of the Supervisory Board
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Gateway Real Estate's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Gateway Real Estate has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Why Gateway Real Estate AG's (ETR:H1I) High P/E Ratio Isn't Necessarily A Bad Thing

We'll look at Gateway Real Estate AG's (ETR:H1I) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Gateway Real Estate's P/E ratio is 18.29. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Company Info

Description

Gateway Real Estate AG invests in, develops, and manages real estate properties in Germany. Its property portfolio includes logistic, office, and retail properties. The company was founded in 2006 and is based in Frankfurt am Main, Germany.

Details
Name: Gateway Real Estate AG
H1I
Exchange: XTRA
Founded: 2006
€696,614,800
186,760,000
Website: http://www.gateway-re.de
Address: Gateway Real Estate AG
THE SQUAIRE – Zugang N°13,
Am Flughafen,
Frankfurt am Main,
Hessen, 60549,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA H1I Bearer Shares XETRA Trading Platform DE EUR 24. May 2006
DB GTY Bearer Shares Deutsche Boerse AG DE EUR 24. May 2006
BST GTY Bearer Shares Boerse-Stuttgart DE EUR 24. May 2006
Number of employees
Current staff
Staff numbers
53
Gateway Real Estate employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/15 20:57
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/05/31
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.