Springfield Properties Valuation

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

SPR (£0.95) is trading below our estimate of [[fair value]] (£1.27)

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: SPR (£0.95) is trading below our estimate of fair value (£1.27)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SPR. This is calculated by dividing SPR's market cap by their current earnings.
What is SPR's PE Ratio?
PE Ratio	14.9x
Earnings	UK£7.55m
Market Cap	UK£112.82m

SPR 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	0.6x
Enterprise Value/EBITDA	8.4x
PEG Ratio	0.8x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SPR 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	15.2x
BOOT Henry Boot	27.1x	25.5%	UK£306.0m
GLE MJ Gleeson	16.8x	16.3%	UK£324.5m
CRN Cairn Homes	12.4x	5.5%	UK£1.1b
NTBR Northern Bear	4.4x	-2.5%	UK£7.2m
SPR Springfield Properties	14.9x	19.6%	UK£112.8m

Price-To-Earnings vs Peers: SPR is good value based on its Price-To-Earnings Ratio (14.9x) compared to the peer average (15.2x).

Price to Earnings Ratio vs Industry

How does SPR's PE Ratio compare vs other companies in the European Consumer Durables Industry?

5 Companies	Price / Earnings	Estimated Growth	Market Cap

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: SPR is expensive based on its Price-To-Earnings Ratio (14.9x) compared to the European Consumer Durables industry average (12.7x).

Price to Earnings Ratio vs Fair Ratio

What is SPR'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.

SPR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	14.9x
Fair PE Ratio	14.9x

Price-To-Earnings vs Fair Ratio: SPR is expensive based on its Price-To-Earnings Ratio (14.9x) compared to the estimated Fair Price-To-Earnings Ratio (14.9x).

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 SPR forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	UK£0.95	UK£1.38 +45.6%	13.3%	UK£1.60	UK£1.15	n/a	3
Nov ’25	UK£1.00	UK£1.38 +38.3%	13.3%	UK£1.60	UK£1.15	n/a	3
Oct ’25	UK£1.08	UK£1.38 +28.1%	13.3%	UK£1.60	UK£1.15	n/a	3
Sep ’25	UK£1.05	UK£1.27 +21.0%	17.9%	UK£1.46	UK£0.95	n/a	3
Aug ’25	UK£0.98	UK£1.27 +29.6%	17.9%	UK£1.46	UK£0.95	n/a	3
Jul ’25	UK£0.94	UK£1.24 +31.9%	16.6%	UK£1.40	UK£0.95	n/a	3
Jun ’25	UK£0.94	UK£1.17 +24.1%	13.2%	UK£1.30	UK£0.95	n/a	3
May ’25	UK£0.98	UK£1.17 +19.0%	13.2%	UK£1.30	UK£0.95	n/a	3
Apr ’25	UK£0.95	UK£1.17 +22.8%	13.2%	UK£1.30	UK£0.95	n/a	3
Mar ’25	UK£0.83	UK£1.17 +39.7%	13.2%	UK£1.30	UK£0.95	n/a	3
Feb ’25	UK£0.79	UK£1.07 +35.9%	27.7%	UK£1.30	UK£0.65	n/a	3
Jan ’25	UK£0.87	UK£1.07 +22.6%	27.7%	UK£1.30	UK£0.65	n/a	3
Dec ’24	UK£0.72	UK£1.00 +38.9%	25.5%	UK£1.25	UK£0.65	n/a	3
Nov ’24	UK£0.52	UK£1.00 +94.2%	25.5%	UK£1.25	UK£0.65	UK£1.00	3
Oct ’24	UK£0.55	UK£1.13 +105.5%	10.6%	UK£1.29	UK£1.00	UK£1.08	3
Sep ’24	UK£0.60	UK£1.13 +86.8%	10.6%	UK£1.29	UK£1.00	UK£1.05	3
Aug ’24	UK£0.70	UK£1.13 +61.4%	10.6%	UK£1.29	UK£1.00	UK£0.98	3
Jul ’24	UK£0.69	UK£1.15 +65.9%	12.7%	UK£1.29	UK£1.00	UK£0.94	2
Jun ’24	UK£0.85	UK£1.15 +33.9%	12.7%	UK£1.29	UK£1.00	UK£0.94	2
May ’24	UK£0.84	UK£1.15 +36.3%	12.7%	UK£1.29	UK£1.00	UK£0.98	2
Apr ’24	UK£0.82	UK£1.15 +39.6%	12.7%	UK£1.29	UK£1.00	UK£0.95	2
Mar ’24	UK£0.81	UK£1.25 +54.7%	3.6%	UK£1.29	UK£1.20	UK£0.83	2
Feb ’24	UK£0.93	UK£1.24 +34.1%	3.2%	UK£1.28	UK£1.20	UK£0.79	2
Jan ’24	UK£0.75	UK£1.24 +65.3%	3.2%	UK£1.28	UK£1.20	UK£0.87	2
Dec ’23	UK£0.90	UK£1.53 +69.4%	21.3%	UK£1.85	UK£1.20	UK£0.72	2
Nov ’23	UK£0.92	UK£1.68 +83.1%	10.4%	UK£1.85	UK£1.50	UK£0.52	2

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.