ESR-LOGOS REIT

DB:UZ0 Stock Report

Market Cap: €1.5b

ESR-LOGOS REIT Valuation

Is UZ0 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • 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 UZ0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: UZ0 (€0.16) is trading below our estimate of fair value (€0.21)

Significantly Below Fair Value: UZ0 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for UZ0?

Key metric: As UZ0 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for UZ0. This is calculated by dividing UZ0's market cap by their current revenue.
What is UZ0's PS Ratio?
PS Ratio5.5x
SalesS$374.31m
Market CapS$2.08b

Price to Sales Ratio vs Peers

How does UZ0's PS Ratio compare to its peers?

The above table shows the PS ratio for UZ0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8.7x
AOX alstria office REIT-AG
5.2x-1.5%€1.2b
HABA Hamborner REIT
4.9x1.7%€515.7m
MONT Montea Comm. VA
11.3x8.9%€1.5b
3471 Mitsui Fudosan Logistics Park
13.4x13.5%JP¥326.8b
UZ0 ESR-LOGOS REIT
5.5x2.6%€2.1b

Price-To-Sales vs Peers: UZ0 is good value based on its Price-To-Sales Ratio (5.5x) compared to the peer average (8.7x).

Price to Sales Ratio vs Industry

How does UZ0's PS Ratio compare vs other companies in the Global Industrial REITs Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
UZ0 5.5xIndustry Avg. 8.4xNo. of Companies11PS048121620+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: UZ0 is good value based on its Price-To-Sales Ratio (5.5x) compared to the Global Industrial REITs industry average (8.4x).

Price to Sales Ratio vs Fair Ratio

What is UZ0'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.

UZ0 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.5x
Fair PS Ratio7.1x

Price-To-Sales vs Fair Ratio: UZ0 is good value based on its Price-To-Sales Ratio (5.5x) compared to the estimated Fair Price-To-Sales Ratio (7.1x).

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 UZ0 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.16
€0.24
+45.9%
4.5%€0.26€0.23n/a5
Nov ’25€0.18
€0.23
+32.2%
4.5%€0.25€0.22n/a5
Oct ’25€0.18
€0.23
+25.9%
4.5%€0.25€0.22n/a5
Sep ’25€0.17
€0.23
+40.3%
4.5%€0.25€0.22n/a5
Aug ’25€0.17
€0.23
+37.8%
4.5%€0.25€0.22n/a5
Jul ’25€0.17
€0.24
+42.8%
7.5%€0.27€0.22n/a5
Jun ’25€0.18
€0.24
+35.3%
8.5%€0.27€0.22n/a5
May ’25€0.18
€0.24
+36.2%
8.0%€0.27€0.22n/a6
Apr ’25€0.18
€0.24
+33.7%
7.4%€0.27€0.22n/a6
Mar ’25€0.19
€0.24
+30.0%
6.9%€0.27€0.22n/a7
Feb ’25€0.19
€0.24
+25.6%
9.2%€0.28€0.21n/a9
Jan ’25€0.20
€0.24
+22.1%
10.1%€0.28€0.21n/a9
Dec ’24€0.19
€0.24
+29.9%
10.1%€0.28€0.21n/a9
Nov ’24€0.17
€0.24
+43.0%
10.1%€0.28€0.21€0.189
Oct ’24€0.17
€0.25
+46.7%
6.9%€0.27€0.21€0.189
Sep ’24€0.19
€0.25
+32.9%
6.9%€0.27€0.21€0.179
Aug ’24€0.21
€0.26
+21.6%
9.1%€0.31€0.21€0.179
Jul ’24€0.21
€0.26
+25.0%
9.9%€0.30€0.20€0.179
Jun ’24€0.20
€0.27
+35.1%
9.7%€0.31€0.22€0.189
May ’24€0.20
€0.27
+34.4%
9.3%€0.31€0.22€0.189
Apr ’24€0.20
€0.28
+38.4%
10.4%€0.31€0.22€0.189
Mar ’24€0.21
€0.28
+36.5%
10.4%€0.32€0.22€0.198
Feb ’24€0.24
€0.30
+22.8%
11.7%€0.38€0.26€0.198
Jan ’24€0.21
€0.31
+45.4%
13.4%€0.38€0.24€0.208
Dec ’23€0.22
€0.31
+39.5%
13.4%€0.38€0.24€0.198
Nov ’23€0.21
€0.33
+57.9%
12.4%€0.39€0.25€0.178

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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