London & Associated Properties Plc

LSE:LAS Stock Report

Market Cap: UK£8.5m

London & Associated Properties Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: LAS (£0.1) is trading below our estimate of fair value (£0.88)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for LAS. This is calculated by dividing LAS's market cap by their current revenue.
What is LAS's PS Ratio?
PS Ratio0.2x
SalesUK£49.60m
Market CapUK£8.53m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for LAS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8.4x
ASIA Asia Strategic Holdings
0.5xn/aUS$12.8m
WSP Wynnstay Properties
6.9xn/aUK£19.1m
CDFF Cardiff Property
20.2xn/aUK£23.9m
ALSP Ace Liberty & Stone
6xn/aUK£33.7m
LAS London & Associated Properties
0.2xn/aUK£8.5m

Price-To-Sales vs Peers: LAS is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (8.4x).

Price to Sales Ratio vs Industry

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

10 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.3.8x3.3%
LAS London & Associated Properties
 0.2xn/aUS$10.75m
IWG International Workplace Group
0.6x6.1%US$2.10b
ETLN Etalon Group
0.3x10.5%US$210.89m
LAS 0.2xIndustry Avg. 3.8xNo. of Companies10PS02.44.87.29.612+
10 CompaniesEstimated GrowthMarket Cap
Industry Avg.3.8x52.8%
LAS London & Associated Properties
 0.2xn/aUS$10.75m
No more companies

Price-To-Sales vs Industry: LAS is good value based on its Price-To-Sales Ratio (0.2x) compared to the UK Real Estate industry average (3.9x).

Price to Sales Ratio vs Fair Ratio

What is LAS'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.

LAS PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate LAS'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?

Analyst Forecast: Insufficient data to show price forecast.

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