Argan Valuation

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

Below Fair Value: ARGP (€78.6) is trading below our estimate of fair value (€105.12)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ARGP. This is calculated by dividing ARGP's market cap by their current earnings.
What is ARGP's PE Ratio?
PE Ratio	20.5x
Earnings	€94.45m
Market Cap	€1.94b

ARGP 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	16.6x
Enterprise Value/EBITDA	21.2x
PEG Ratio	0.8x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ARGP 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	16.4x
BBOX Tritax Big Box REIT	21.7x	25.4%	UK£3.4b
SHED Urban Logistics REIT	28.2x	54.6%	UK£511.6m
WHR Warehouse REIT	9.8x	8.7%	UK£366.2m
SAFE Safestore Holdings	6.1x	-3.0%	UK£1.6b
ARGP Argan	20.5x	25.1%	€1.9b

Price-To-Earnings vs Peers: ARGP is expensive based on its Price-To-Earnings Ratio (20.5x) compared to the peer average (16.7x).

Price to Earnings Ratio vs Industry

How does ARGP's PE Ratio compare vs other companies in the Global Industrial REITs Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: ARGP is good value based on its Price-To-Earnings Ratio (20.5x) compared to the Global Industrial REITs industry average (22x).

Price to Earnings Ratio vs Fair Ratio

What is ARGP'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.

ARGP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	20.5x
Fair PE Ratio	n/a

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