Swiss Prime Site AG

BATS-CHIXE:SPSNZ Stock Report

Market Cap: CHF 7.6b

Swiss Prime Site Valuation

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

Below Fair Value: SPSNZ (CHF98.5) is trading above our estimate of fair value (CHF34.42)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SPSNZ. This is calculated by dividing SPSNZ's market cap by their current earnings.
What is SPSNZ's PE Ratio?
PE Ratio41.1x
EarningsCHF 185.50m
Market CapCHF 7.63b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SPSNZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average43.7x
GRI Grainger
52.6x39.0%UK£1.6b
SRE Sirius Real Estate
10.8x18.0%UK£1.2b
TPFG Property Franchise Group
33x54.9%UK£256.1m
PNS Panther Securities
78.2xn/aUK£56.7m
SPSNZ Swiss Prime Site
41.1x18.3%CHF 7.6b

Price-To-Earnings vs Peers: SPSNZ is good value based on its Price-To-Earnings Ratio (41.1x) compared to the peer average (43.7x).

Price to Earnings Ratio vs Industry

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

30 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies30PE01632486480+
30 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SPSNZ is expensive based on its Price-To-Earnings Ratio (41.1x) compared to the European Real Estate industry average (18.1x).

Price to Earnings Ratio vs Fair Ratio

What is SPSNZ'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.

SPSNZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio41.1x
Fair PE Ratio33.6x

Price-To-Earnings vs Fair Ratio: SPSNZ is expensive based on its Price-To-Earnings Ratio (41.1x) compared to the estimated Fair Price-To-Earnings Ratio (33.6x).

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 SPSNZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 98.50
CHF 101.33
+2.9%
3.8%CHF 108.00CHF 97.00n/a6
Dec ’25CHF 97.25
CHF 100.50
+3.3%
5.0%CHF 108.00CHF 92.00n/a6
Nov ’25CHF 94.45
CHF 99.86
+5.7%
4.9%CHF 108.00CHF 92.00n/a7
Oct ’25CHF 95.30
CHF 98.50
+3.4%
4.0%CHF 105.00CHF 92.00n/a6
Sep ’25CHF 95.50
CHF 94.00
-1.6%
8.4%CHF 105.00CHF 80.00n/a6
Aug ’25CHF 88.48
CHF 93.17
+5.3%
8.1%CHF 105.00CHF 80.00n/a6
Jul ’25CHF 85.20
CHF 93.17
+9.4%
8.1%CHF 105.00CHF 80.00n/a6
Jun ’25CHF 83.88
CHF 93.17
+11.1%
8.1%CHF 105.00CHF 80.00n/a6
May ’25CHF 85.40
CHF 93.17
+9.1%
8.1%CHF 105.00CHF 80.00n/a6
Apr ’25CHF 84.83
CHF 92.50
+9.0%
8.3%CHF 105.00CHF 80.00n/a6
Mar ’25CHF 85.25
CHF 91.83
+7.7%
8.7%CHF 105.00CHF 80.00n/a6
Feb ’25CHF 87.13
CHF 91.50
+5.0%
9.8%CHF 105.00CHF 80.00n/a6
Jan ’25CHF 89.78
CHF 90.67
+1.0%
9.9%CHF 105.00CHF 80.00n/a6
Dec ’24CHF 87.85
CHF 87.80
-0.06%
7.9%CHF 96.00CHF 80.00CHF 97.255
Nov ’24CHF 83.55
CHF 87.80
+5.1%
7.9%CHF 96.00CHF 80.00CHF 94.455
Oct ’24CHF 83.95
CHF 87.20
+3.9%
8.1%CHF 96.00CHF 80.00CHF 95.305
Sep ’24CHF 83.55
CHF 88.67
+6.1%
8.1%CHF 96.00CHF 80.00CHF 95.506
Aug ’24CHF 84.80
CHF 87.40
+3.1%
8.3%CHF 96.00CHF 80.00CHF 88.485
Jul ’24CHF 77.35
CHF 87.40
+13.0%
8.3%CHF 96.00CHF 80.00CHF 85.205
Jun ’24CHF 76.65
CHF 87.40
+14.0%
8.3%CHF 96.00CHF 80.00CHF 83.885
May ’24CHF 81.50
CHF 89.50
+9.8%
7.1%CHF 96.00CHF 80.00CHF 85.406
Apr ’24CHF 75.85
CHF 90.83
+19.8%
9.0%CHF 104.00CHF 80.00CHF 84.836
Mar ’24CHF 79.10
CHF 90.50
+14.4%
9.3%CHF 104.00CHF 80.00CHF 85.256
Feb ’24CHF 81.25
CHF 90.50
+11.4%
9.3%CHF 104.00CHF 80.00CHF 87.136
Jan ’24CHF 80.25
CHF 93.00
+15.9%
8.2%CHF 104.00CHF 83.00CHF 89.786
Dec ’23CHF 78.85
CHF 93.00
+17.9%
8.2%CHF 104.00CHF 83.00CHF 87.856

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/28 18:54
End of Day Share Price 2024/12/27 00:00
Earnings2024/06/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Swiss Prime Site AG is covered by 15 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ruud Van MaanenABN AMRO Bank N.V.
Christian ObstBaader Helvea Equity Research
Volker BosseBaader Helvea Equity Research