alstria office REIT-AG Valuation

Q: What is the Fair Price of AOXD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

AOXD (€7.34) is trading below our estimate of [[fair value]] (€8.1)

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: AOXD (€7.34) is trading below our estimate of fair value (€8.1)

Significantly Below Fair Value: AOXD is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for AOXD. This is calculated by dividing AOXD's market cap by their current earnings.
What is AOXD's PE Ratio?
PE Ratio	6.6x
Earnings	€203.08m
Market Cap	€1.34b

AOXD key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	15.4x
Enterprise Value/EBITDA	26.2x
PEG Ratio	-31.8x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for AOXD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	32.1x
UKCM UK Commercial Property REIT	29.9x	n/a	UK£947.3m
AGR Assura	19.1x	19.9%	UK£1.3b
PCTN Picton Property Income	46.6x	40.4%	UK£379.1m
LMP LondonMetric Property	32.8x	20.1%	UK£3.9b
AOXD alstria office REIT-AG	6.6x	-0.2%	€1.3b

Price-To-Earnings vs Peers: AOXD is good value based on its Price-To-Earnings Ratio (6.6x) compared to the peer average (24.4x).

Price to Earnings Ratio vs Industry

How does AOXD's PE Ratio compare vs other companies in the European REITs Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: AOXD is good value based on its Price-To-Earnings Ratio (6.6x) compared to the European REITs industry average (12.5x).

Price to Earnings Ratio vs Fair Ratio

What is AOXD'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.

AOXD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6.6x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate AOXD's Price-To-Earnings 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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