Gaming and Leisure Properties, Inc.

DB:2GL Stock Report

Market Cap: €12.7b

Gaming and Leisure Properties Valuation

Is 2GL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 2GL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2GL (€44.51) is trading below our estimate of fair value (€146.65)

Significantly Below Fair Value: 2GL is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2GL?

Key metric: As 2GL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2GL. This is calculated by dividing 2GL's market cap by their current earnings.
What is 2GL's PE Ratio?
PE Ratio16.6x
EarningsUS$778.26m
Market CapUS$13.30b

Price to Earnings Ratio vs Peers

How does 2GL's PE Ratio compare to its peers?

The above table shows the PE ratio for 2GL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18x
LAMR Lamar Advertising
24.6x10.2%US$12.6b
EDUCA 18 Fideicomiso Irrevocable No. F/3277 en Banco Invex S. A. Institución de Banca Múltiple INVEX Grupo
17.9xn/aMex$68.7b
VICI VICI Properties
10.8x2.2%US$30.3b
EPR EPR Properties
18.8x6.5%US$3.3b
2GL Gaming and Leisure Properties
16.6x4.7%€13.3b

Price-To-Earnings vs Peers: 2GL is good value based on its Price-To-Earnings Ratio (16.6x) compared to the peer average (18x).

Price to Earnings Ratio vs Industry

How does 2GL's PE Ratio compare vs other companies in the Global Specialized REITs Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
2GL 16.6xIndustry Avg. 18.8xNo. of Companies6PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2GL is good value based on its Price-To-Earnings Ratio (16.6x) compared to the Global Specialized REITs industry average (18.8x).

Price to Earnings Ratio vs Fair Ratio

What is 2GL'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.

2GL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 2GL's Price-To-Earnings Fair Ratio for valuation analysis.

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 2GL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€44.51
€53.82
+20.9%
6.8%€58.83€46.30n/a23
Dec ’25€48.79
€52.91
+8.4%
7.4%€58.22€45.82n/a22
Nov ’25€45.91
€50.79
+10.6%
7.6%€56.41€44.39n/a22
Oct ’25€45.93
€49.38
+7.5%
7.7%€55.11€43.36n/a22
Sep ’25€46.05
€48.63
+5.6%
7.7%€54.50€42.89n/a22
Aug ’25€46.25
€49.58
+7.2%
8.6%€56.33€44.33n/a21
Jul ’25€41.83
€48.72
+16.5%
9.0%€57.05€43.02n/a21
Jun ’25€40.74
€48.19
+18.3%
8.8%€56.33€42.48n/a21
May ’25€40.13
€49.01
+22.1%
8.6%€57.14€44.03n/a21
Apr ’25€42.05
€48.98
+16.5%
8.2%€56.28€43.36n/a20
Mar ’25€41.98
€49.25
+17.3%
8.1%€56.29€43.37n/a21
Feb ’25€42.13
€49.34
+17.1%
8.0%€56.19€43.30n/a21
Jan ’25€44.69
€49.40
+10.5%
8.2%€56.67€43.66n/a21
Dec ’24€42.58
€49.79
+16.9%
8.4%€57.00€42.05€48.7920
Nov ’24€42.82
€50.19
+17.2%
8.5%€57.46€42.39€45.9120
Oct ’24€43.42
€52.21
+20.3%
6.7%€59.10€46.91€45.9319
Sep ’24€43.50
€51.25
+17.8%
6.4%€57.69€45.79€46.0518
Aug ’24€42.92
€51.21
+19.3%
5.9%€57.44€45.59€46.2518
Jul ’24€44.54
€52.44
+17.7%
5.6%€58.19€46.18€41.8318
Jun ’24€44.94
€51.67
+15.0%
5.1%€55.87€45.80€40.7417
May ’24€46.50
€51.32
+10.4%
4.8%€55.36€45.38€40.1318
Apr ’24€46.80
€52.73
+12.7%
4.8%€56.85€46.60€42.0519
Mar ’24€50.50
€52.85
+4.7%
4.5%€57.21€46.90€41.9820
Feb ’24€49.00
€51.56
+5.2%
5.2%€56.14€46.02€42.1319
Jan ’24€48.60
€52.39
+7.8%
5.8%€57.47€45.22€44.6920
Dec ’23€50.00
€52.66
+5.3%
6.3%€58.55€46.07€42.5820

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 07:31
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Gaming and Leisure Properties, Inc. is covered by 41 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Felicia Kantor HendrixBarclays
Richard HightowerBarclays
Keegan CarlBerenberg