LEG Immobilien SE

BATS-CHIXE:LEGD Stock Report

Market Cap: €6.2b

LEG Immobilien Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: LEGD (€84.68) is trading above our estimate of fair value (€57.32)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for LEGD. This is calculated by dividing LEGD's market cap by their current revenue.
What is LEGD's PS Ratio?
PS Ratio4.4x
Sales€1.41b
Market Cap€6.20b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for LEGD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.7x
IWG International Workplace Group
0.6x6.1%UK£1.7b
GRI Grainger
6.1x-18.3%UK£1.6b
SRE Sirius Real Estate
5.2x-6.3%UK£1.3b
TPFG Property Franchise Group
6.8x42.4%UK£280.1m
LEGD LEG Immobilien
4.4x-14.2%€6.2b

Price-To-Sales vs Peers: LEGD is good value based on its Price-To-Sales Ratio (4.4x) compared to the peer average (4.7x).

Price to Sales Ratio vs Industry

How does LEGD's PS Ratio compare vs other companies in the GB Real Estate Industry?

10 CompaniesPrice / SalesEstimated GrowthMarket Cap
IWG International Workplace Group
0.6x6.1%US$2.15b
ETLN Etalon Group
0.3x10.5%US$210.89m
WJG Watkin Jones
0.1x1.6%US$75.94m
RAV Raven Property Group
0.1x-0.2%US$23.74m
No. of Companies10PS02.44.87.29.612+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: LEGD is expensive based on its Price-To-Sales Ratio (4.4x) compared to the UK Real Estate industry average (4.3x).

Price to Sales Ratio vs Fair Ratio

What is LEGD'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.

LEGD PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.4x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate LEGD's Price-To-Sales 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 LEGD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€84.68
€96.98
+14.5%
14.1%€135.30€80.00n/a17
Nov ’25n/a
€96.78
0%
13.9%€135.30€80.00n/a17
Oct ’25n/a
€94.48
0%
13.7%€135.30€80.00n/a17
Sep ’25n/a
€91.07
0%
14.6%€135.30€78.00n/a15
Aug ’25n/a
€89.82
0%
14.0%€134.70€77.90n/a17
Jul ’25n/a
€89.18
0%
14.3%€134.70€73.00n/a17
Jun ’25€80.13
€88.11
+10.0%
15.2%€134.70€73.00n/a17
May ’25n/a
€87.09
0%
15.7%€134.70€70.30n/a17
Apr ’25n/a
€86.44
0%
15.9%€134.70€70.30n/a17
Mar ’25€69.43
€83.85
+20.8%
19.3%€134.70€55.00n/a17
Feb ’25€77.84
€83.85
+7.7%
19.3%€134.70€55.00n/a17
Jan ’25n/a
€79.89
0%
20.9%€134.70€53.70n/a17
Dec ’24€70.06
€77.23
+10.2%
23.7%€134.70€50.50n/a17
Nov ’24n/a
€76.76
0%
24.3%€134.70€51.00n/a16
Oct ’24€64.94
€75.85
+16.8%
24.8%€134.70€51.00n/a16
Sep ’24n/a
€75.91
0%
25.1%€134.70€51.00n/a16
Aug ’24n/a
€78.32
0%
32.5%€162.30€51.00n/a16
Jul ’24€49.86
€79.34
+59.1%
31.0%€162.30€54.80n/a16
Jun ’24€48.02
€79.66
+65.9%
30.9%€162.30€55.00€80.1316
May ’24€55.92
€82.70
+47.9%
29.1%€162.30€55.00n/a16
Apr ’24€49.74
€83.46
+67.8%
28.7%€162.30€55.00n/a16
Mar ’24€67.48
€86.25
+27.8%
25.2%€162.30€62.00€69.4317
Feb ’24€71.84
€86.25
+20.1%
25.2%€162.30€62.00€77.8417
Jan ’24€60.92
€87.52
+43.7%
26.9%€162.30€57.00n/a17
Dec ’23€61.76
€92.74
+50.2%
26.1%€162.30€57.00€70.0617
Nov ’23€68.58
€97.44
+42.1%
22.4%€162.30€70.00n/a17

Analyst Forecast: Target price is less than 20% higher than the current share price.

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