SL Green Realty Corp.

DB:GEI Stock Report

Market Cap: €4.8b

SL Green Realty Valuation

Is GEI 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-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 GEI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GEI (€73.06) is trading below our estimate of fair value (€84.35)

Significantly Below Fair Value: GEI is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for GEI. This is calculated by dividing GEI's market cap by their current revenue.
What is GEI's PS Ratio?
PS Ratio5.5x
SalesUS$920.14m
Market CapUS$5.09b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for GEI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average6.2x
AOX alstria office REIT-AG
5.1x-1.5%€1.2b
8952 Japan Real Estate Investment
9.5x-4.3%JP¥799.6b
KRC Kilroy Realty
4.1x2.8%US$4.6b
CUZ Cousins Properties
5.9x4.6%US$4.9b
GEI SL Green Realty
5.5x-9.4%€5.1b

Price-To-Sales vs Peers: GEI is good value based on its Price-To-Sales Ratio (5.5x) compared to the peer average (6.2x).

Price to Sales Ratio vs Industry

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

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
GEI 5.5xIndustry Avg. 8.2xNo. of Companies5PS0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: GEI is good value based on its Price-To-Sales Ratio (5.5x) compared to the European Office REITs industry average (8.2x).

Price to Sales Ratio vs Fair Ratio

What is GEI'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.

GEI PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.5x
Fair PS Ratio6.2x

Price-To-Sales vs Fair Ratio: GEI is good value based on its Price-To-Sales Ratio (5.5x) compared to the estimated Fair Price-To-Sales Ratio (6.2x).

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 GEI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€73.06
€64.12
-12.2%
21.1%€85.49€42.75n/a18
Nov ’25€68.32
€61.57
-9.9%
21.1%€83.05€41.53n/a18
Oct ’25€62.64
€52.74
-15.8%
16.8%€67.49€40.50n/a18
Sep ’25€60.14
€48.08
-20.0%
19.8%€67.48€31.49n/a18
Aug ’25€61.22
€48.19
-21.3%
19.2%€69.50€32.43n/a18
Jul ’25€50.92
€43.05
-15.5%
18.9%€55.88€19.56n/a18
Jun ’25€48.65
€41.94
-13.8%
19.8%€55.24€19.33n/a18
May ’25€46.33
€42.47
-8.3%
19.8%€55.93€19.58n/a18
Apr ’25€50.78
€41.27
-18.7%
22.2%€55.86€19.55n/a18
Mar ’25€44.44
€39.03
-12.2%
22.2%€55.69€19.49n/a18
Feb ’25€42.21
€38.38
-9.1%
23.4%€55.34€19.37n/a18
Jan ’25€41.89
€34.90
-16.7%
25.8%€54.35€19.02n/a17
Dec ’24€36.89
€30.18
-18.2%
29.2%€55.17€19.31n/a17
Nov ’24€27.50
€32.19
+17.1%
34.4%€65.93€16.01€68.3217
Oct ’24€35.07
€33.12
-5.6%
34.6%€66.23€16.09€62.6417
Sep ’24€36.00
€32.07
-10.9%
34.4%€64.38€15.63€60.1416
Aug ’24€33.37
€30.86
-7.5%
36.2%€63.66€15.46€61.2216
Jul ’24€27.28
€28.87
+5.8%
42.0%€64.15€15.58€50.9216
Jun ’24€20.68
€29.52
+42.7%
48.6%€77.49€15.68€48.6518
May ’24€21.26
€29.88
+40.5%
49.3%€76.57€15.50€46.3318
Apr ’24€21.40
€31.29
+46.2%
47.4%€77.44€15.67€50.7817
Mar ’24€31.80
€40.42
+27.1%
27.5%€79.40€31.19€44.4417
Feb ’24€37.20
€38.72
+4.1%
28.4%€77.44€27.66€42.2118
Jan ’24€31.80
€41.65
+31.0%
26.8%€78.62€28.08€41.8918
Dec ’23€39.20
€47.08
+20.1%
28.8%€84.46€35.51€36.8918
Nov ’23€39.60
€50.68
+28.0%
27.5%€89.09€37.46€27.5018

Analyst Forecast: Target price is lower than the current share price.

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