LEG Immobilien
Market Cap
€8.0b
Last Updated
2021/03/08 19:18 UTC
Data Sources
Company Financials +
Executive Summary
LEG Immobilien AG operates as an integrated property company in Germany. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 12.2% per year for the next 3 years
+ 1 more risk
Snowflake Analysis
Mediocre balance sheet second-rate dividend payer.
Similar Companies
Share Price & News
How has LEG Immobilien's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: LEG is less volatile than 75% of German stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: LEG's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
-2.6%
LEG
-0.3%
DE Real Estate
1.1%
DE Market
1 Year Return
1.2%
LEG
4.9%
DE Real Estate
33.9%
DE Market
Return vs Industry: LEG exceeded the German Real Estate industry which returned -1.2% over the past year.
Return vs Market: LEG underperformed the German Market which returned 21.4% over the past year.
Shareholder returns
| LEG | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.6% | -0.3% | 1.1% |
| 30 Day | -7.7% | -2.2% | 0.7% |
| 90 Day | -7.0% | -2.8% | 8.8% |
| 1 Year | 4.2%1.2% | 7.8%4.9% | 38.0%33.9% |
| 3 Year | 38.8%26.3% | 24.0%14.7% | 17.1%6.9% |
| 5 Year | 64.3%40.6% | 60.7%41.9% | 46.8%26.0% |
Long-Term Price Volatility Vs. Market
How volatile is LEG Immobilien's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 days ago | Simply Wall St
What Is The Ownership Structure Like For LEG Immobilien AG (ETR:LEG)?3 weeks ago | Simply Wall St
We're Not So Sure You Should Rely on LEG Immobilien's (ETR:LEG) Statutory Earnings1 month ago | Simply Wall St
Could The Market Be Wrong About LEG Immobilien AG (ETR:LEG) Given Its Attractive Financial Prospects?Valuation
Is LEG Immobilien undervalued compared to its fair value and its price relative to the market?
7.87x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: LEG (€111.28) is trading above our estimate of fair value (€52.38)
Significantly Below Fair Value: LEG is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: LEG is good value based on its PE Ratio (7.9x) compared to the DE Real Estate industry average (13.7x).
PE vs Market: LEG is good value based on its PE Ratio (7.9x) compared to the German market (25.4x).
Price to Earnings Growth Ratio
PEG Ratio: LEG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: LEG's PB Ratio (1.2x) is in line with the DE Real Estate industry average.
Next Steps
Future Growth
How is LEG Immobilien forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
-12.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LEG's earnings are forecast to decline over the next 3 years (-12.2% per year).
Earnings vs Market: LEG's earnings are forecast to decline over the next 3 years (-12.2% per year).
High Growth Earnings: LEG's earnings are forecast to decline over the next 3 years.
Revenue vs Market: LEG's revenue (3.1% per year) is forecast to grow slower than the German market (5.8% per year).
High Growth Revenue: LEG's revenue (3.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: LEG's Return on Equity is forecast to be low in 3 years time (7.5%).
Next Steps
Past Performance
How has LEG Immobilien performed over the past 5 years?
22.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LEG has a large one-off gain of €932.1M impacting its September 30 2020 financial results.
Growing Profit Margin: LEG's current net profit margins (93.5%) are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: LEG's earnings have grown significantly by 22.5% per year over the past 5 years.
Accelerating Growth: LEG's earnings growth over the past year (6.7%) is below its 5-year average (22.5% per year).
Earnings vs Industry: LEG earnings growth over the past year (6.7%) exceeded the Real Estate industry -4.7%.
Return on Equity
High ROE: LEG's Return on Equity (14.8%) is considered low.
Next Steps
Financial Health
How is LEG Immobilien's financial position?
Financial Position Analysis
Short Term Liabilities: LEG's short term assets (€1.0B) exceed its short term liabilities (€786.2M).
Long Term Liabilities: LEG's short term assets (€1.0B) do not cover its long term liabilities (€7.1B).
Debt to Equity History and Analysis
Debt Level: LEG's debt to equity ratio (84.6%) is considered high.
Reducing Debt: LEG's debt to equity ratio has reduced from 136% to 84.6% over the past 5 years.
Debt Coverage: LEG's debt is not well covered by operating cash flow (5.9%).
Interest Coverage: LEG's interest payments on its debt are well covered by EBIT (3.5x coverage).
Balance Sheet
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Dividend
What is LEG Immobilien current dividend yield, its reliability and sustainability?
3.24%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: LEG's dividend (3.24%) is higher than the bottom 25% of dividend payers in the German market (0.9%).
High Dividend: LEG's dividend (3.24%) is low compared to the top 25% of dividend payers in the German market (3.37%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, LEG has been paying a dividend for less than 10 years.
Growing Dividend: LEG's dividend payments have increased, but the company has only paid a dividend for 8 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (25.5%), LEG's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: LEG's dividends in 3 years are forecast to be covered by earnings (75.1% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.8yrs
Average management tenure
CEO
Lars von Lackum (45 yo)
1.75yrs
Tenure
€1,261,000
Compensation
Mr. Lars Von Lackum has been Chief Executive Officer at LEG Immobilien AG since June 1, 2019 and is its Member of Management Board since 2019 and also served as its Chief Financial Officer until July 1, 20...
CEO Compensation Analysis
Compensation vs Market: Lars's total compensation ($USD1.50M) is below average for companies of similar size in the German market ($USD3.30M).
Compensation vs Earnings: Insufficient data to compare Lars's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Chairman of the Management Board | 1.75yrs | €1.26m | 0.0014% € 111.2k | |
| COO & Member of Management Board | 1.75yrs | €1.05m | no data | |
| 1.83yrs | €2.16m | 0.076% € 6.1m | ||
| CFO & Member of Management Board | 0.67yr | no data | no data | |
| Head of Corporate Finance & Treasury | no data | no data | no data | |
| Head of Investor Relations | no data | no data | no data |
1.8yrs
Average Tenure
44.5yo
Average Age
Experienced Management: LEG's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Supervisory Board Member | 4.83yrs | €84.00k | no data | |
| Independent Supervisory Board Member | 8.17yrs | €110.00k | no data | |
| Independent Deputy Chairman of Supervisory Board | 8.17yrs | €178.00k | no data | |
| Independent Supervisory Board Member | 8.17yrs | €112.00k | no data | |
| Independent Chairman of Supervisory Board | 8.17yrs | €238.00k | no data | |
| Members of the Supervisory Board | 1.17yrs | no data | no data |
8.2yrs
Average Tenure
69yo
Average Age
Experienced Board: LEG's board of directors are considered experienced (8.2 years average tenure).
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 been diluted in the past year, with total shares outstanding growing by 4.5%.
Top Shareholders
Company Information
LEG Immobilien AG's company bio, employee growth, exchange listings and data sources
Key Information
- Name: LEG Immobilien AG
- Ticker: LEG
- Exchange: XTRA
- Founded: 1970
- Industry: Real Estate Operating Companies
- Sector: Real Estate
- Market Cap: €7.997b
- Shares outstanding: 72.10m
- Website: https://www.leg-wohnen.de/unternehmen/
Number of Employees
Location
- LEG Immobilien AG
- Hans-Böckler-Strasse 38
- Dusseldorf
- North Rhine-Westphalia
- 40476
- Germany
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| LEG | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Feb 2013 |
| LEG | XTRA (XETRA Trading Platform) | Yes | Ordinary Shares | DE | EUR | Feb 2013 |
| 0QC9 | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Feb 2013 |
| LEGI.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Feb 2013 |
| LEGD | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Feb 2013 |
| LEG | WBAG (Wiener Boerse AG) | Yes | Ordinary Shares | AT | EUR | Feb 2013 |
| LEG | SWX (SIX Swiss Exchange) | Yes | Ordinary Shares | CH | CHF | Feb 2013 |
| LEG | ETLX (Eurotlx) | Yes | Ordinary Shares | IT | EUR | Feb 2013 |
| LEGU | DB (Deutsche Boerse AG) | UNSP ADR EA REPR 0.25 ORD | DE | EUR | Aug 2015 |
Biography
LEG Immobilien AG operates as an integrated property company in Germany. It rents apartments, commercial units, and garages and parking spaces; and purchases and sells property portfolios. The company also...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/08 19:18 |
| End of Day Share Price | 2021/03/08 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.