Goodman Group

DB:MY4 Stock Report

Market Cap: €45.0b

Goodman Group Valuation

Is MY4 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MY4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MY4 (€23.06) is trading above our estimate of fair value (€20.82)

Significantly Below Fair Value: MY4 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MY4?

Key metric: As MY4 barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for MY4. This is calculated by dividing MY4's market cap by their current book value.
What is MY4's PB Ratio?
PB Ratio4.2x
BookAU$17.54b
Market CapAU$73.08b

Price to Book Ratio vs Peers

How does MY4's PB Ratio compare to its peers?

The above table shows the PB ratio for MY4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1.4x
PLD Prologis
2.1x4.1%US$111.0b
LINE Lineage
1.6x87.6%US$16.2b
SGRO SEGRO
0.9x37.9%UK£10.6b
A17U CapitaLand Ascendas REIT
1.1x23.1%S$11.6b
MY4 Goodman Group
4.2x27.3%€73.1b

Price-To-Book vs Peers: MY4 is expensive based on its Price-To-Book Ratio (4.2x) compared to the peer average (1.4x).

Price to Book Ratio vs Industry

How does MY4's PB Ratio compare vs other companies in the Global Industrial REITs Industry?

0 CompaniesPrice / BookEstimated GrowthMarket Cap
MY4 4.2xIndustry Avg. 0.9xNo. of Companies18PB00.61.21.82.43+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: MY4 is expensive based on its Price-To-Book Ratio (4.2x) compared to the Global Industrial REITs industry average (0.9x).

Price to Book Ratio vs Fair Ratio

What is MY4's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MY4 PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio4.2x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate MY4's Price-To-Book 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 MY4 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€23.06
€23.42
+1.6%
10.7%€26.16€16.66n/a11
Nov ’25€21.64
€22.67
+4.8%
12.8%€25.81€14.61n/a11
Oct ’25€22.63
€22.38
-1.1%
12.8%€25.27€14.90n/a11
Sep ’25€20.02
€20.60
+2.9%
17.7%€24.20€12.00n/a12
Aug ’25€21.62
€20.06
-7.2%
17.3%€24.14€11.97n/a12
Jul ’25€22.30
€20.26
-9.1%
17.5%€24.79€12.29n/a12
Jun ’25€20.10
€19.37
-3.6%
15.9%€23.22€12.21n/a12
May ’25€18.83
€18.00
-4.4%
15.6%€21.45€11.95n/a13
Apr ’25€19.93
€17.89
-10.3%
15.4%€21.07€11.99n/a13
Mar ’25€17.93
€17.67
-1.4%
14.3%€20.69€12.02n/a13
Feb ’25€14.99
€15.49
+3.4%
8.7%€17.17€11.72n/a12
Jan ’25€15.27
€15.10
-1.1%
9.4%€17.36€11.86n/a12
Dec ’24€13.68
€14.55
+6.4%
12.3%€17.13€10.45n/a13
Nov ’24€12.44
€14.26
+14.6%
11.4%€16.74€10.35€21.6413
Oct ’24€12.82
€14.65
+14.3%
11.3%€16.96€10.49€22.6313
Sep ’24€13.43
€14.07
+4.8%
11.8%€16.78€10.38€20.0214
Aug ’24€12.26
€13.62
+11.1%
10.3%€15.29€10.65€21.6214
Jul ’24€11.98
€13.69
+14.3%
9.3%€15.00€10.70€22.3014
Jun ’24€11.78
€13.39
+13.7%
9.4%€14.76€10.54€20.1013
May ’24€11.32
€13.69
+21.0%
7.2%€14.78€11.41€18.8312
Apr ’24€11.30
€13.96
+23.5%
7.7%€15.11€11.66€19.9312
Mar ’24€12.10
€13.96
+15.4%
8.2%€15.27€11.78€17.9313
Feb ’24€12.86
€13.91
+8.2%
8.6%€16.02€11.72€14.9913
Jan ’24€10.81
€13.84
+28.0%
9.5%€15.95€11.67€15.2714
Dec ’23€12.27
€13.84
+12.7%
9.5%€15.95€11.67€13.6814
Nov ’23€11.19
€15.47
+38.2%
8.9%€17.33€12.28€12.4414

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

Discover undervalued companies

Argan

€1.7b

Engages in designing, building, developing, owning, leasing, and managing logistical platforms in France.

871

€65.70

7D

0.2%

1Y

-13.1%

Allied Properties Real Estate Investment Trust

CA$2.5b

Allied is a leading owner-operator of distinctive urban workspace in Canada's major cities.

5G8

CA$12.18

7D

-0.6%

1Y

-2.6%

Office Properties Income Trust

US$87.0m

OPI is a national REIT focused on owning and leasing high quality office and mixed-use properties in select growth-oriented U.S.

GOKA

US$1.45

7D

66.9%

1Y

-71.3%