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Befimmo Valuation

Q: What is the Fair Price of VJ6 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

VJ6 (€45.6) is trading below our estimate of [[fair value]] (€3313.22)

Is VJ6 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-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 VJ6 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VJ6 (€45.6) is trading below our estimate of fair value (€3313.22)

Significantly Below Fair Value: VJ6 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VJ6?

Key metric: As VJ6 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for VJ6. This is calculated by dividing VJ6's market cap by their current earnings.
What is VJ6's PE Ratio?
PE Ratio	9.7x
Earnings	€126.38m
Market Cap	€1.24b

VJ6 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	19.7x
Enterprise Value/EBITDA	31.7x
PEG Ratio	1.7x

Price to Earnings Ratio vs Peers

How does VJ6's PE Ratio compare to its peers?

The above table shows the PE ratio for VJ6 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	50.5x
HABA Hamborner REIT	64.2x	10.8%	€525.5m
GIB GSW Immobilien	8.4x	n/a	€5.0b
BIRET Brookfield India Real Estate Trust	110.4x	44.0%	₹137.3b
8987 Japan Excellent	19.2x	n/a	JP¥159.7b
VJ6 Befimmo	9.7x	5.8%	€1.2b

Price-To-Earnings vs Peers: VJ6 is good value based on its Price-To-Earnings Ratio (9.7x) compared to the peer average (28.1x).

Price to Earnings Ratio vs Industry

How does VJ6's PE Ratio compare vs other companies in the European REITs Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: VJ6 is expensive based on its Price-To-Earnings Ratio (9.7x) compared to the European REITs industry average (8.1x)

Price to Earnings Ratio vs Fair Ratio

What is VJ6'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.

VJ6 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	9.7x
Fair PE Ratio	8.2x

Price-To-Earnings vs Fair Ratio: VJ6 is expensive based on its Price-To-Earnings Ratio (9.7x) compared to the estimated Fair Price-To-Earnings Ratio (8.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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