Shaftesbury Capital PLC

DB:C20 Stock Report

Market Cap: €2.7b

Shaftesbury Capital Valuation

Is C20 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 C20 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: C20 (€1.46) is trading above our estimate of fair value (€0.07)

Significantly Below Fair Value: C20 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for C20?

Key metric: As C20 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for C20. This is calculated by dividing C20's market cap by their current earnings.
What is C20's PE Ratio?
PE Ratio61x
EarningsUK£37.40m
Market CapUK£2.28b

Price to Earnings Ratio vs Peers

How does C20's PE Ratio compare to its peers?

The above table shows the PE ratio for C20 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average42.6x
HABA Hamborner REIT
62.4x9.5%€510.8m
DKG Deutsche Konsum REIT-AG
64.9x57.2%€127.6m
HDN HomeCo Daily Needs REIT
29.6x20.0%AU$2.4b
N2IU Mapletree Pan Asia Commercial Trust
13.8x2.2%S$6.3b
C20 Shaftesbury Capital
61x28.4%€2.3b

Price-To-Earnings vs Peers: C20 is expensive based on its Price-To-Earnings Ratio (61x) compared to the peer average (42.6x).

Price to Earnings Ratio vs Industry

How does C20's PE Ratio compare vs other companies in the European Retail REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
C20 61.0xIndustry Avg. 22.5xNo. of Companies4PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: C20 is expensive based on its Price-To-Earnings Ratio (61x) compared to the European Retail REITs industry average (22.5x).

Price to Earnings Ratio vs Fair Ratio

What is C20'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.

C20 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio61x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate C20'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 C20 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€1.46
€2.05
+40.5%
9.2%€2.51€1.81n/a11
Dec ’25€1.60
€2.04
+27.5%
9.2%€2.50€1.80n/a11
Nov ’25€1.59
€2.07
+30.5%
8.8%€2.50€1.80n/a10
Oct ’25€1.74
€2.06
+18.3%
9.8%€2.50€1.68n/a10
Sep ’25€1.68
€1.99
+18.5%
11.0%€2.47€1.66n/a10
Aug ’25€1.78
€1.95
+9.8%
12.7%€2.47€1.48n/a10
Jul ’25€1.63
€1.87
+14.8%
9.8%€2.12€1.48n/a10
Jun ’25€1.71
€1.83
+6.8%
9.7%€2.09€1.45n/a11
May ’25€1.59
€1.83
+15.0%
9.3%€2.11€1.46n/a11
Apr ’25€1.63
€1.83
+12.2%
9.7%€2.10€1.46n/a11
Mar ’25€1.42
€1.78
+24.9%
11.7%€2.12€1.43n/a11
Feb ’25€1.54
€1.76
+14.7%
11.1%€2.11€1.43n/a11
Jan ’25€1.58
€1.78
+12.9%
10.6%€2.09€1.42n/a9
Dec ’24€1.38
€1.76
+28.0%
11.1%€2.08€1.41€1.608
Nov ’24€1.18
€1.77
+50.6%
10.6%€2.08€1.41€1.599
Oct ’24€1.27
€1.79
+41.2%
10.2%€2.10€1.42€1.7410
Sep ’24€1.37
€1.79
+30.9%
9.8%€2.04€1.41€1.6810
Aug ’24€1.38
€1.79
+30.1%
9.8%€2.04€1.41€1.7810
Jul ’24€1.29
€1.82
+41.1%
7.9%€2.05€1.58€1.639
Jun ’24€1.37
€1.74
+26.9%
7.2%€1.88€1.53€1.718
May ’24€1.35
€1.77
+31.4%
6.4%€1.88€1.53€1.597
Apr ’24€1.28
€1.77
+38.3%
7.6%€1.92€1.53€1.636
Mar ’24€1.42
€1.75
+23.5%
25.9%€2.77€1.35€1.427
Feb ’24€1.29
€1.68
+30.4%
29.3%€2.80€1.25€1.547
Jan ’24€1.27
€1.77
+39.3%
27.3%€2.86€1.28€1.587
Dec ’23€1.16
€1.77
+52.6%
27.3%€2.86€1.28€1.387

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 00:40
End of Day Share Price 2024/12/23 00:00
Earnings2024/06/30
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

Shaftesbury Capital PLC is covered by 29 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Aaron GuyBarclays
Kieran LeeBerenberg
Miranda CockburnBerenberg