LEG Immobilien SE

LSE:0QC9 Stock Report

Market Cap: €6.2b

LEG Immobilien Valuation

Is 0QC9 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 0QC9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0QC9 (€83.41) is trading above our estimate of fair value (€56.42)

Significantly Below Fair Value: 0QC9 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0QC9?

Key metric: As 0QC9 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0QC9. This is calculated by dividing 0QC9's market cap by their current revenue.
What is 0QC9's PS Ratio?
PS Ratio4.4x
Sales€1.41b
Market Cap€6.20b

Price to Sales Ratio vs Peers

How does 0QC9's PS Ratio compare to its peers?

The above table shows the PS ratio for 0QC9 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
0QC9 LEG Immobilien
4.4x-14.2%€6.2b

Price-To-Sales vs Peers: 0QC9 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 0QC9'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
0QC9 4.4xIndustry Avg. 4.3xNo. of Companies10PS02.44.87.29.612+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 0QC9 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 0QC9'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.

0QC9 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.4x
Fair PS Ratio2.9x

Price-To-Sales vs Fair Ratio: 0QC9 is expensive based on its Price-To-Sales Ratio (4.4x) compared to the estimated Fair Price-To-Sales Ratio (2.9x).

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 0QC9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€83.41
€96.98
+16.3%
14.1%€135.30€80.00n/a17
Nov ’25€87.68
€96.78
+10.4%
13.9%€135.30€80.00n/a17
Oct ’25€96.49
€94.48
-2.1%
13.7%€135.30€80.00n/a17
Sep ’25€87.10
€91.07
+4.6%
14.6%€135.30€78.00n/a15
Aug ’25€83.68
€89.82
+7.3%
14.0%€134.70€77.90n/a17
Jul ’25€76.14
€89.18
+17.1%
14.3%€134.70€73.00n/a17
Jun ’25€80.65
€88.11
+9.2%
15.2%€134.70€73.00n/a17
May ’25€79.92
€87.09
+9.0%
15.7%€134.70€70.30n/a17
Apr ’25€79.57
€86.44
+8.6%
15.9%€134.70€70.30n/a17
Mar ’25€69.53
€83.85
+20.6%
19.3%€134.70€55.00n/a17
Feb ’25€76.93
€83.85
+9.0%
19.3%€134.70€55.00n/a17
Jan ’25€79.84
€79.89
+0.06%
20.9%€134.70€53.70n/a17
Dec ’24€71.85
€77.23
+7.5%
23.7%€134.70€50.50n/a17
Nov ’24€59.82
€76.76
+28.3%
24.3%€134.70€51.00€87.6816
Oct ’24€65.30
€75.85
+16.1%
24.8%€134.70€51.00€96.4916
Sep ’24€66.25
€75.91
+14.6%
25.1%€134.70€51.00€87.1016
Aug ’24€63.36
€78.32
+23.6%
32.5%€162.30€51.00€83.6816
Jul ’24€52.96
€79.34
+49.8%
31.0%€162.30€54.80€76.1416
Jun ’24€48.31
€79.66
+64.9%
30.9%€162.30€55.00€80.6516
May ’24€56.17
€82.70
+47.2%
29.1%€162.30€55.00€79.9216
Apr ’24€50.49
€83.46
+65.3%
28.7%€162.30€55.00€79.5716
Mar ’24€67.61
€86.25
+27.6%
25.2%€162.30€62.00€69.5317
Feb ’24€71.94
€86.25
+19.9%
25.2%€162.30€62.00€76.9317
Jan ’24€61.31
€87.52
+42.8%
26.9%€162.30€57.00€79.8417
Dec ’23€62.86
€92.74
+47.5%
26.1%€162.30€57.00€71.8517
Nov ’23€68.16
€97.44
+43.0%
22.4%€162.30€70.00€59.8217

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

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