Macerich Valuation
Is M6G undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation Score 2/6
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 M6G when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: M6G (€18.56) is trading below our estimate of fair value (€26.73)
Significantly Below Fair Value: M6G is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for M6G?
Key metric: As M6G is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is M6G's PE Ratio? | |
|---|---|
| PE Ratio | 58.4x |
| Earnings | US$78.41m |
| Market Cap | US$4.45b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 11.2x |
| Enterprise Value/EBITDA | 24.4x |
| PEG Ratio | -1.8x |
Price to Earnings Ratio vs Peers
How does M6G's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 37.9x | ||
HABA Hamborner REIT | 63.5x | 10.8% | €519.8m |
REI.UN RioCan Real Estate Investment Trust | 24.4x | 28.3% | CA$5.8b |
8953 Japan Metropolitan Fund Investment | 20.8x | 7.6% | JP¥659.6b |
SKT Tanger | 43x | 1.8% | US$4.1b |
M6G Macerich | 58.4x | -32.8% | €4.4b |
Price-To-Earnings vs Peers: M6G is expensive based on its Price-To-Earnings Ratio (58.4x) compared to the peer average (38x).
Price to Earnings Ratio vs Industry
How does M6G's PE Ratio compare vs other companies in the European Retail REITs Industry?
| 0 Companies | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
| 0 Companies | Estimated Growth | Market Cap |
|---|
Price-To-Earnings vs Industry: M6G is expensive based on its Price-To-Earnings Ratio (58.4x) compared to the European Retail REITs industry average (22.5x).
Price to Earnings Ratio vs Fair Ratio
What is M6G'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 58.4x |
| Fair PE Ratio | n/a |
Price-To-Earnings vs Fair Ratio: Insufficient data to calculate M6G'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?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | €19.42 | €16.59 -14.5% | 21.3% | €23.75 | €12.82 | n/a | 13 |
| Nov ’25 | €17.06 | €15.37 -9.9% | 18.6% | €22.09 | €11.51 | n/a | 13 |
| Oct ’25 | €16.15 | €14.41 -10.7% | 18.1% | €21.61 | €11.25 | n/a | 13 |
| Sep ’25 | €13.85 | €14.13 +2.0% | 20.6% | €21.67 | €9.93 | n/a | 13 |
| Aug ’25 | €14.66 | €14.12 -3.6% | 20.4% | €22.14 | €10.15 | n/a | 13 |
| Jul ’25 | €14.17 | €14.33 +1.1% | 20.1% | €22.35 | €10.24 | n/a | 13 |
| Jun ’25 | €13.41 | €14.45 +7.8% | 19.7% | €22.16 | €10.16 | n/a | 13 |
| May ’25 | €14.03 | €15.22 +8.5% | 19.8% | €22.45 | €10.29 | n/a | 13 |
| Apr ’25 | €15.84 | €15.94 +0.6% | 16.2% | €22.25 | €11.59 | n/a | 13 |
| Mar ’25 | €14.88 | €15.16 +1.8% | 23.9% | €23.07 | €7.38 | n/a | 13 |
| Feb ’25 | €14.36 | €14.10 -1.8% | 25.8% | €23.08 | €7.39 | n/a | 13 |
| Jan ’25 | €14.14 | €12.71 -10.1% | 29.7% | €22.63 | €7.24 | n/a | 13 |
| Dec ’24 | €10.34 | €11.62 +12.4% | 33.8% | €22.82 | €7.30 | n/a | 13 |
| Nov ’24 | €9.01 | €12.08 +34.1% | 33.8% | €23.66 | €7.57 | €17.06 | 13 |
| Oct ’24 | €10.56 | €12.37 +17.1% | 32.5% | €23.65 | €7.57 | €16.15 | 13 |
| Sep ’24 | €10.60 | €11.79 +11.2% | 37.0% | €24.39 | €7.36 | €13.85 | 13 |
| Aug ’24 | €11.42 | €11.19 -2.0% | 38.2% | €23.57 | €7.12 | €14.66 | 13 |
| Jul ’24 | €10.26 | €11.38 +10.9% | 39.0% | €24.28 | €7.33 | €14.17 | 13 |
| Jun ’24 | €8.87 | €11.90 +34.1% | 37.5% | €24.73 | €7.46 | €13.41 | 14 |
| May ’24 | €8.65 | €12.40 +43.4% | 35.0% | €24.60 | €7.43 | €14.03 | 14 |
| Apr ’24 | €9.19 | €12.40 +34.9% | 35.0% | €24.60 | €7.43 | €15.84 | 14 |
| Mar ’24 | €11.07 | €13.11 +18.5% | 32.7% | €24.89 | €7.51 | €14.88 | 13 |
| Feb ’24 | €12.38 | €12.61 +1.9% | 36.4% | €25.62 | €7.45 | €14.36 | 13 |
| Jan ’24 | €10.34 | €12.92 +24.9% | 37.2% | €25.94 | €7.55 | €14.14 | 13 |
| Dec ’23 | €11.97 | €12.54 +4.8% | 40.7% | €26.85 | €7.81 | €10.34 | 13 |
| Nov ’23 | €11.15 | €12.53 +12.3% | 43.2% | €27.90 | €8.12 | €9.01 | 13 |
Analyst Forecast: Target price is lower than the current share price.
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