XTRA:TLG

Stock Analysis Report

Executive Summary

TLG Immobilien AG operates as a commercial real estate company in Germany.

Snowflake

Fundamentals

Fair value with acceptable track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-0.4%

TLG

1.1%

DE Real Estate

2.4%

DE Market


1 Year Return

11.0%

TLG

0.2%

DE Real Estate

4.9%

DE Market

Return vs Industry: TLG exceeded the German Real Estate industry which returned 0.2% over the past year.

Return vs Market: TLG exceeded the German Market which returned 4.9% over the past year.


Shareholder returns

TLGIndustryMarket
7 Day-0.4%1.1%2.4%
30 Day0.4%4.8%2.3%
90 Day-7.3%3.4%2.7%
1 Year14.9%11.0%2.9%0.2%8.2%4.9%
3 Year42.8%27.5%39.3%28.6%18.3%8.0%
5 Year171.4%129.6%139.9%105.5%44.2%24.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

5.57x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TLG (€24.75) is trading above our estimate of fair value (€13.19)

Significantly Below Fair Value: TLG is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TLG is good value based on its PE Ratio (5.6x) compared to the Real Estate industry average (12.8x).

PE vs Market: TLG is good value based on its PE Ratio (5.6x) compared to the German market (19.2x).


Price to Earnings Growth Ratio

PEG Ratio: TLG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: TLG is good value based on its PB Ratio (1.1x) compared to the DE Real Estate industry average (1.3x).


Next Steps

Future Growth

How is TLG Immobilien forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-21.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TLG's earnings are forecast to decline over the next 3 years (-21.5% per year).

Earnings vs Market: TLG's earnings are forecast to decline over the next 3 years (-21.5% per year).

High Growth Earnings: TLG's earnings are forecast to decline over the next 3 years.

Revenue vs Market: TLG's revenue (2.4% per year) is forecast to grow slower than the German market (5% per year).

High Growth Revenue: TLG's revenue (2.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TLG's Return on Equity is forecast to be low in 3 years time (8.6%).


Next Steps

Past Performance

How has TLG Immobilien performed over the past 5 years?

34.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: TLG's earnings have grown significantly by 34.3% per year over the past 5 years.

Accelerating Growth: TLG's earnings growth over the past year (22.2%) is below its 5-year average (34.3% per year).

Earnings vs Industry: TLG earnings growth over the past year (22.2%) exceeded the Real Estate industry 5.3%.


Return on Equity

High ROE: TLG's Return on Equity (17.7%) is considered low.


Return on Assets

ROA vs Industry: TLG has a higher Return on Assets than the Real Estate industry average last year.


Return on Capital Employed

ROCE Improving: TLG's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is TLG Immobilien's financial position?


Financial Position Analysis

Short Term Liabilities: TLG's short term assets (€938.6M) exceeds its short term liabilities (€140.4M)

Long Term Liabilities: TLG's short term assets (938.6M) do not cover its long term liabilities (2.7B)


Debt to Equity History and Analysis

Debt Level: TLG's debt to equity ratio (80.9%) is considered high

Reducing Debt: TLG's debt to equity ratio has reduced from 118.6% to 80.9% over the past 5 years.

Debt Coverage: TLG's debt is not well covered by operating cash flow (5.9%).

Interest Coverage: TLG's interest payments on its debt are well covered by EBIT (4.6x coverage).


Balance Sheet

Inventory Level: TLG has a high level of physical assets or inventory.

Debt Coverage by Assets: TLG's debt is not covered by short term assets (assets are 0.4x debt).


Next Steps

Dividend

What is TLG Immobilien's current dividend yield, its reliability and sustainability?

3.68%

Current Dividend Yield


Dividend Yield vs Market

company3.7%marketbottom25%1.5%markettop25%3.8%industryaverage2.9%forecastin3Years4.2%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: TLG's dividend (3.68%) is higher than the bottom 25% of dividend payers in the German market (1.46%).

High Dividend: TLG's dividend (3.68%) is low compared to the top 25% of dividend payers in the German market (3.79%).

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

Growing Dividend: TLG's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (20.5%), TLG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TLG's dividends in 3 years are forecast to be covered by earnings (59.9% payout ratio).


Next Steps

Management

What is the CEO of TLG Immobilien's salary, the management and board of directors tenure and is there insider trading?

0.9yrs

Average management tenure


CEO

Barak Bar-Hen (42yo)

0.4yrs

Tenure

0

Mr. Barak Bar-Hen has been Chief Executive Officer and Chairman of the Management Board at TLG IMMOBILIEN AG since May 29, 2019. Mr. Bar-Hen has a long track record in the European Real Estate industry. Af ...


Management Age and Tenure

0.9yrs

Average Tenure

46yo

Average Age

Experienced Management: TLG's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.


Board Age and Tenure

0.4yrs

Average Tenure

58yo

Average Age

Experienced Board: TLG's board of directors are not considered experienced ( 0.4 years average tenure), which suggests a new board.


Insider Trading

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


Ownership Breakdown


Management Team

  • Petra Nau

    Head of Office of the Management Board

    • Tenure: 0yrs
  • Sabine Pentrop

    Head of Corporate Communications

    • Tenure: 0yrs
  • Jürgen Overath (56yo)

    COO & Member of the Management Board

    • Tenure: 1.1yrs
    • Compensation: €675.00k
  • Herrn Klinck (50yo)

    CFO & Member of the Management Board

    • Tenure: 1.1yrs
    • Compensation: €675.00k
  • Simona Schneider (37yo)

    Head of Transaction Management

    • Tenure: 0.8yrs
  • Barak Bar-Hen (42yo)

    Chairman of the Management Board & CEO

    • Tenure: 0.4yrs

Board Members

  • Helmut Ullrich (70yo)

    Member of the Supervisory Board

    • Tenure: 4.3yrs
    • Compensation: €89.25k
  • Jonathan Lurie (43yo)

    Member of Supervisory Board

    • Tenure: 0.7yrs
  • Philippe Couturier

    Member of Advisory Board

    • Tenure: 0yrs
  • Sascha Hettrich (57yo)

    Chairman of the Supervisory Board

    • Tenure: 0.4yrs
    • Compensation: €53.05k
  • Klaus Krägel (59yo)

    Member of Supervisory Board

    • Tenure: 0.4yrs
  • Ran Laufer

    Deputy chairman of Supervisory Board

    • Tenure: 0.4yrs

Company Information

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


Key Information

  • Name: TLG Immobilien AG
  • Ticker: TLG
  • Exchange: XTRA
  • Founded: 1991
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: €2.771b
  • Shares outstanding: 111.96m
  • Website: https://www.tlg.eu

Number of Employees


Location

  • TLG Immobilien AG
  • Hausvogteiplatz 12
  • Berlin
  • Berlin
  • 10117
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TLGDB (Deutsche Boerse AG)YesRegistered Ordinary SharesDEEUROct 2014
TLGXTRA (XETRA Trading Platform)YesRegistered Ordinary SharesDEEUROct 2014
0R3NLSE (London Stock Exchange)YesRegistered Ordinary SharesGBEUROct 2014
TLGdBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered Ordinary SharesGBEUROct 2014
TLGWBAG (Wiener Boerse AG)YesRegistered Ordinary SharesATEUROct 2014
TLMM.FOTCPK (Pink Sheets LLC)YesRegistered Ordinary SharesUSUSDOct 2014

Biography

TLG Immobilien AG operates as a commercial real estate company in Germany. The company is involved in the letting, management, acquisition, development, disposal, and renting of office, retail, and hotel p ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 21:58
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.