Varia US Properties AG

BATS-CHIXE:VARNZ Stock Report

Market Cap: CHF 207.6m

Varia US Properties Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Discounted Cash Flow
Simply Wall St
CHF 68.83
Fair Value
70.2% undervalued intrinsic discount
1
Number of Analysts

Below Fair Value: VARNZ (CHF20.5) is trading below our estimate of fair value (CHF68.83)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for VARNZ. This is calculated by dividing VARNZ's market cap by their current revenue.
What is VARNZ's PS Ratio?
PS Ratio2x
SalesUS$125.43m
Market CapUS$252.96m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for VARNZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.2x
PSDL Phoenix Spree Deutschland
6.4x-13.9%UK£150.1m
ASLI abrdn European Logistics Income
6.9xn/aUK£234.1m
TPFG Property Franchise Group
4.2x13.0%UK£285.5m
PNS Panther Securities
3.5xn/aUK£52.1m
VARNZ Varia US Properties
2x27.0%CHF 207.6m

Price-To-Sales vs Peers: VARNZ is good value based on its Price-To-Sales Ratio (2x) compared to the peer average (5.2x).

Price to Sales Ratio vs Industry

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

9 CompaniesPrice / SalesEstimated GrowthMarket Cap
ETLN Etalon Group
0.3x10.5%US$210.89m
WJG Watkin Jones
0.2x8.1%US$110.30m
RAV Raven Property Group
0.1x-0.2%US$23.74m
ASIA Asia Strategic Holdings
0.4xn/aUS$12.84m
No. of Companies9PS0246810+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: VARNZ is good value based on its Price-To-Sales Ratio (2x) compared to the UK Real Estate industry average (3.3x).

Price to Sales Ratio vs Fair Ratio

What is VARNZ'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.

VARNZ PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2x
Fair PS Ratio3.3x

Price-To-Sales vs Fair Ratio: VARNZ is good value based on its Price-To-Sales Ratio (2x) compared to the estimated Fair Price-To-Sales Ratio (3.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

AnalystConsensusTarget
Consensus Narrative from 1 Analyst
CHF 29.01
Fair Value
29.3% undervalued intrinsic discount
1
Number of Analysts

Analyst Forecast: Insufficient data to show price forecast.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/04/28 10:38
End of Day Share Price 2025/04/28 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Varia US Properties AG is covered by 1 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Markus KramerResearch Partners AG