Cromwell Property Group

DB:C4Q Stock Report

Market Cap: €624.1m

Cromwell Property Group Valuation

Is C4Q undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • 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 C4Q when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: C4Q (€0.23) is trading above our estimate of fair value (€0.2)

Significantly Below Fair Value: C4Q is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for C4Q?

Key metric: As C4Q is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for C4Q. This is calculated by dividing C4Q's market cap by their current revenue.
What is C4Q's PS Ratio?
PS Ratio4.7x
SalesAU$219.70m
Market CapAU$1.03b

Price to Sales Ratio vs Peers

How does C4Q's PS Ratio compare to its peers?

The above table shows the PS ratio for C4Q vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average6.1x
AOX alstria office REIT-AG
4x-1.5%€949.9m
HABA Hamborner REIT
4.9x-0.4%€517.3m
ABG Abacus Group
5.3x1.2%AU$1.0b
YZBL Zambal Spain Socimi
10.3xn/a€603.6m
C4Q Cromwell Property Group
4.7x7.4%€1.0b

Price-To-Sales vs Peers: C4Q is good value based on its Price-To-Sales Ratio (4.7x) compared to the peer average (6.1x).

Price to Sales Ratio vs Industry

How does C4Q's PS Ratio compare vs other companies in the European Office REITs Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
C4Q 4.7xIndustry Avg. 7.8xNo. of Companies4PS048121620+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: C4Q is good value based on its Price-To-Sales Ratio (4.7x) compared to the European Office REITs industry average (7.8x).

Price to Sales Ratio vs Fair Ratio

What is C4Q'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.

C4Q PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.7x
Fair PS Ratio6.9x

Price-To-Sales vs Fair Ratio: C4Q is good value based on its Price-To-Sales Ratio (4.7x) compared to the estimated Fair Price-To-Sales Ratio (6.9x).

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 C4Q forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.23
€0.33
+47.5%
17.9%€0.39€0.27n/a2
Dec ’25€0.22
€0.32
+46.8%
17.9%€0.41€0.28n/a3
Nov ’25€0.23
€0.32
+39.5%
17.9%€0.41€0.28n/a3
Oct ’25€0.27
€0.32
+19.5%
17.9%€0.41€0.28n/a3
Sep ’25€0.24
€0.32
+33.3%
17.9%€0.41€0.28n/a3
Aug ’25€0.24
€0.32
+31.9%
16.9%€0.40€0.28n/a3
Jul ’25€0.24
€0.33
+40.2%
16.0%€0.40€0.28n/a3
Jun ’25€0.25
€0.33
+31.4%
16.0%€0.40€0.28n/a3
May ’25€0.23
€0.33
+42.2%
19.0%€0.42€0.28n/a3
Apr ’25€0.25
€0.33
+35.0%
19.0%€0.42€0.28n/a3
Mar ’25€0.24
€0.38
+60.4%
14.9%€0.42€0.30n/a3
Feb ’25€0.24
€0.39
+63.9%
14.9%€0.43€0.31n/a3
Jan ’25€0.25
€0.39
+56.7%
12.5%€0.42€0.32€0.213
Dec ’24€0.25
€0.39
+56.1%
12.5%€0.42€0.32€0.223
Nov ’24€0.18
€0.39
+115.8%
12.5%€0.42€0.32€0.233
Oct ’24€0.22
€0.43
+97.4%
15.4%€0.51€0.33€0.274
Sep ’24€0.27
€0.46
+70.4%
16.9%€0.53€0.33€0.244
Aug ’24€0.32
€0.48
+50.6%
13.5%€0.55€0.38€0.244
Jul ’24€0.31
€0.52
+66.4%
8.0%€0.56€0.47€0.244
Jun ’24€0.32
€0.52
+63.2%
8.0%€0.56€0.47€0.254
May ’24€0.33
€0.52
+56.8%
8.0%€0.56€0.47€0.234
Apr ’24€0.33
€0.52
+56.9%
8.0%€0.56€0.47€0.254
Mar ’24€0.42
€0.56
+32.9%
9.7%€0.63€0.48€0.244
Feb ’24€0.47
€0.58
+25.3%
7.9%€0.63€0.51€0.244
Jan ’24€0.41
€0.58
+40.8%
7.9%€0.63€0.51€0.254

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/05 13:09
End of Day Share Price 2025/01/03 00:00
Earnings2024/06/30
Annual Earnings2024/06/30

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

Cromwell Property Group is covered by 12 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Russell WrightBarclay Pearce Capital Pty Limited
Simon ChanBofA Global Research
Stephen RichCredit Suisse