PSP Swiss Property AG

BATS-CHIXE:PSPNz Stock Report

Market Cap: CHF 5.7b

PSP Swiss Property Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: PSPNz (CHF125.1) is trading above our estimate of fair value (CHF51.56)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PSPNz. This is calculated by dividing PSPNz's market cap by their current earnings.
What is PSPNz's PE Ratio?
PE Ratio20.6x
EarningsCHF 278.19m
Market CapCHF 5.73b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PSPNz vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average44.9x
GRI Grainger
55.6x40.8%UK£1.7b
SRE Sirius Real Estate
11.9x9.6%UK£1.3b
TPFG Property Franchise Group
35.2x54.9%UK£273.5m
PNS Panther Securities
77xn/aUK£55.8m
PSPNz PSP Swiss Property
20.6x0.08%CHF 5.7b

Price-To-Earnings vs Peers: PSPNz is good value based on its Price-To-Earnings Ratio (20.6x) compared to the peer average (44.9x).

Price to Earnings Ratio vs Industry

How does PSPNz's PE Ratio compare vs other companies in the European Real Estate Industry?

23 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies31PE01224364860+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PSPNz is expensive based on its Price-To-Earnings Ratio (20.6x) compared to the European Real Estate industry average (18.2x).

Price to Earnings Ratio vs Fair Ratio

What is PSPNz'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.

PSPNz PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.6x
Fair PE Ratio24.8x

Price-To-Earnings vs Fair Ratio: PSPNz is good value based on its Price-To-Earnings Ratio (20.6x) compared to the estimated Fair Price-To-Earnings Ratio (24.8x).

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 PSPNz forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 125.10
CHF 130.45
+4.3%
5.5%CHF 148.00CHF 117.00n/a11
Nov ’25CHF 123.50
CHF 130.30
+5.5%
5.9%CHF 148.00CHF 117.00n/a10
Oct ’25CHF 124.85
CHF 128.20
+2.7%
3.8%CHF 135.00CHF 117.00n/a10
Sep ’25CHF 123.50
CHF 125.56
+1.7%
4.5%CHF 133.00CHF 115.00n/a9
Aug ’25CHF 117.80
CHF 123.44
+4.8%
4.2%CHF 130.00CHF 115.00n/a9
Jul ’25CHF 115.20
CHF 123.44
+7.2%
4.2%CHF 130.00CHF 115.00n/a9
Jun ’25CHF 113.00
CHF 124.25
+10.0%
4.0%CHF 130.00CHF 115.00n/a8
May ’25CHF 114.00
CHF 123.63
+8.4%
3.9%CHF 130.00CHF 115.00n/a8
Apr ’25CHF 118.65
CHF 122.38
+3.1%
3.4%CHF 128.00CHF 115.00n/a8
Mar ’25CHF 113.15
CHF 121.25
+7.2%
5.9%CHF 130.00CHF 105.00n/a8
Feb ’25CHF 115.10
CHF 120.63
+4.8%
7.1%CHF 130.00CHF 100.00n/a8
Jan ’25CHF 117.45
CHF 119.25
+1.5%
7.1%CHF 130.00CHF 100.00n/a8
Dec ’24CHF 114.80
CHF 116.57
+1.5%
6.7%CHF 128.00CHF 100.00n/a7
Nov ’24CHF 110.25
CHF 115.71
+5.0%
7.1%CHF 128.00CHF 100.00CHF 123.507
Oct ’24CHF 108.30
CHF 115.71
+6.8%
7.1%CHF 128.00CHF 100.00CHF 124.857
Sep ’24CHF 106.90
CHF 113.75
+6.4%
7.5%CHF 128.00CHF 100.00CHF 123.508
Aug ’24CHF 102.90
CHF 114.33
+11.1%
7.0%CHF 128.00CHF 100.00CHF 117.809
Jul ’24CHF 99.75
CHF 114.33
+14.6%
7.0%CHF 128.00CHF 100.00CHF 115.209
Jun ’24CHF 97.50
CHF 114.89
+17.8%
7.4%CHF 128.00CHF 100.00CHF 113.009
May ’24CHF 104.90
CHF 118.00
+12.5%
7.8%CHF 128.00CHF 100.00CHF 114.009
Apr ’24CHF 103.70
CHF 119.22
+15.0%
6.7%CHF 128.00CHF 100.00CHF 118.659
Mar ’24CHF 105.00
CHF 119.22
+13.5%
6.7%CHF 128.00CHF 100.00CHF 113.159
Feb ’24CHF 113.30
CHF 119.33
+5.3%
6.7%CHF 128.00CHF 100.00CHF 115.109
Jan ’24CHF 108.80
CHF 118.22
+8.7%
6.6%CHF 128.00CHF 100.00CHF 117.459
Dec ’23CHF 106.00
CHF 118.78
+12.1%
6.5%CHF 128.00CHF 100.00CHF 114.809
Nov ’23CHF 106.10
CHF 121.00
+14.0%
8.0%CHF 135.00CHF 100.00CHF 110.259

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

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