TLG Immobilien (HMSE:TLG) - Share price, News & Analysis

TLG fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	1/6
Financial Health	4/6
Dividends	3/6

TLG Stock Overview

TLG Immobilien AG operates as a commercial real estate company in Germany.

Rewards

Trading at 0.8% below our estimate of its fair value

Risk Analysis

Unstable dividend track record

Large one-off items impacting financial results

TLG Immobilien Competitors

Vonovia

XTRA:VNA

€25.8b

Deutsche Wohnen

XTRA:DWNI

€10.2b

LEG Immobilien

XTRA:LEG

€6.9b

Aroundtown

XTRA:AT1

€5.1b

Price History & Performance

Summary of all time highs, changes and price drops for TLG Immobilien
Historical stock prices
Current Share Price	€30.00
52 Week High	€30.50
52 Week Low	€24.50
Beta	0
1 Month Change	0.67%
3 Month Change	-0.17%
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-0.17%

Recent News & Updates

Apr 15

Weak Statutory Earnings May Not Tell The Whole Story For TLG Immobilien (HMSE:TLG)

TLG Immobilien AG's ( HMSE:TLG ) stock showed strength after its weak earnings report. While shareholders may be...

Shareholder Returns

	TLG	DE Real Estate	DE Market
7D	22.4%	-0.8%	1.2%
1Y	n/a	-27.1%	-12.2%

Return vs Industry: Insufficient data to determine how TLG performed against the German Real Estate industry.

Return vs Market: Insufficient data to determine how TLG performed against the German Market.

Price Volatility

Is TLG's price volatile compared to industry and market?
TLG volatility
TLG Average Weekly Movement	5.0%
Real Estate Industry Average Movement	5.0%
Market Average Movement	6.4%
10% most volatile stocks in DE Market	10.7%
10% least volatile stocks in DE Market	3.5%

Stable Share Price: TLG is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: Insufficient data to determine TLG's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
1991	86	n/a	https://www.tlg.eu

TLG Immobilien AG operates as a commercial real estate company in Germany. The company is also involved in the letting, management, acquisition, development, disposal, and renting of office, retail, hotel, and other properties. It operates seven hotels.

TLG Immobilien Fundamentals Summary

How do TLG Immobilien's earnings and revenue compare to its market cap?
TLG fundamental statistics
Market Cap	€3.39b
Earnings (TTM)	€294.41m
Revenue (TTM)	€286.87m

11.5x

P/E Ratio

11.8x

P/S Ratio

Is TLG overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
TLG income statement (TTM)
Revenue	€286.87m
Cost of Revenue	€59.73m
Gross Profit	€227.13m
Other Expenses	-€67.27m
Earnings	€294.41m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	2.60
Gross Margin	79.18%
Net Profit Margin	102.63%
Debt/Equity Ratio	46.3%

How did TLG perform over the long term?

See historical performance and comparison

Dividends

3.1%

Current Dividend Yield

30%

Payout Ratio

Valuation

Is TLG Immobilien undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

0.8%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: TLG (€30) is trading below our estimate of fair value (€30.24)

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

Price To Earnings Ratio

PE vs Industry: TLG is good value based on its PE Ratio (11.5x) compared to the German Real Estate industry average (13.2x).

PE vs Market: TLG is good value based on its PE Ratio (11.5x) compared to the German market (17.3x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TLG's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: TLG's PB Ratio (1x) is in line with the DE Real Estate industry average.

Future Growth

How is TLG Immobilien forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

0.06%

Forecasted Real Estate industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as TLG Immobilien has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has TLG Immobilien performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

17.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TLG has a large one-off gain of €211.1M impacting its December 31 2021 financial results.

Growing Profit Margin: TLG's current net profit margins are lower than last year .

Past Earnings Growth Analysis

Earnings Trend: TLG's earnings have grown by 17.7% per year over the past 5 years.

Accelerating Growth: TLG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TLG had negative earnings growth (-37.5%) over the past year, making it difficult to compare to the Real Estate industry average (6.9%).

Return on Equity

High ROE: TLG's Return on Equity (9.1%) is considered low.

Financial Health

How is TLG Immobilien's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: TLG's short term assets (€607.8M) exceed its short term liabilities (€442.2M).

Long Term Liabilities: TLG's short term assets (€607.8M) do not cover its long term liabilities (€2.2B).

Debt to Equity History and Analysis

Debt Level: TLG's net debt to equity ratio (37.4%) is considered satisfactory.

Reducing Debt: TLG's debt to equity ratio has reduced from 104.9% to 46.3% over the past 5 years.

Debt Coverage: TLG's debt is not well covered by operating cash flow (9.8%).

Interest Coverage: TLG's interest payments on its debt are well covered by EBIT (8.6x coverage).

Balance Sheet

Dividend

What is TLG Immobilien current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

3.13%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: TLG's dividend (3.13%) is higher than the bottom 25% of dividend payers in the German market (1.37%).

High Dividend: TLG's dividend (3.13%) is low compared to the top 25% of dividend payers in the German market (4.29%).

Stability and Growth of Payments

Stable Dividend: Too early to tell whether TLG's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if TLG's dividend payments are increasing as they only just started paying a dividend.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (30.2%), TLG's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (68.1%), TLG's dividend payments are covered by cash flows.

Next Steps

Explore strong dividend paying companies in the Real Estate industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

0.5yrs

Average management tenure

CEO

TLG Immobilien has no CEO, or we have no data on them.

Leadership Team

Experienced Management: TLG's management team is not considered experienced ( 0.5 years average tenure), which suggests a new team.

Board Members

Experienced Board: TLG's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Insufficient data to determine if shareholders have been diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/15 00:00
End of Day Share Price	2022/05/13 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31