China Merchants Commercial Real Estate Investment Trust Valuation
Is 5C3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
4/6Valuation Score 4/6
Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast
Share Price vs Fair Value
What is the Fair Price of 5C3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: 5C3 (€0.14) is trading below our estimate of fair value (€0.42)
Significantly Below Fair Value: 5C3 is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for 5C3?
Key metric: As 5C3 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.
| What is 5C3's PS Ratio? | |
|---|---|
| PS Ratio | 2.4x |
| Sales | CN¥517.49m |
| Market Cap | CN¥1.26b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 11.1x |
| Enterprise Value/EBITDA | 16.5x |
| PEG Ratio | n/a |
Price to Sales Ratio vs Peers
How does 5C3's PS Ratio compare to its peers?
| Company | Forward PS | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 3x | ||
FVI Fair Value REIT-AG | 2.3x | n/a | €56.1m |
DKG Deutsche Konsum REIT-AG | 1.4x | -9.5% | €143.1m |
HABA Hamborner REIT | 4.9x | 1.7% | €519.8m |
MDV Modiv Industrial | 3.3x | 2.0% | US$159.2m |
5C3 China Merchants Commercial Real Estate Investment Trust | 2.4x | n/a | €1.4b |
Price-To-Sales vs Peers: 5C3 is good value based on its Price-To-Sales Ratio (2.4x) compared to the peer average (3x).
Price to Sales Ratio vs Industry
How does 5C3's PS Ratio compare vs other companies in the European REITs Industry?
| 3 Companies | Price / Sales | Estimated Growth | Market Cap |
|---|---|---|---|
| 3 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Sales vs Industry: 5C3 is good value based on its Price-To-Sales Ratio (2.4x) compared to the European REITs industry average (8.2x).
Price to Sales Ratio vs Fair Ratio
What is 5C3's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PS Ratio | 2.4x |
| Fair PS Ratio | n/a |
Price-To-Sales vs Fair Ratio: Insufficient data to calculate 5C3's Price-To-Sales 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?
Analyst Forecast: Insufficient data to show price forecast.
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