Hammerson Plc

BATS-CHIXE:HMSOL Stock Report

Market Cap: UK£1.4b

Hammerson Valuation

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

Below Fair Value: HMSOL (£0.28) is trading above our estimate of fair value (£0.11)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for HMSOL. This is calculated by dividing HMSOL's market cap by their current revenue.
What is HMSOL's PS Ratio?
PS Ratio5.3x
SalesUK£267.40m
Market CapUK£1.42b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for HMSOL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7.4x
SUPR Supermarket Income REIT
7.9x5.3%UK£847.4m
NRR NewRiver REIT
5.4x12.0%UK£345.2m
SHC Shaftesbury Capital
10x1.4%UK£2.3b
SAFE Safestore Holdings
6.4x6.0%UK£1.4b
HMSOl Hammerson
5.9x2.2%UK£1.4b

Price-To-Sales vs Peers: HMSOL is good value based on its Price-To-Sales Ratio (5.3x) compared to the peer average (10.7x).

Price to Sales Ratio vs Industry

How does HMSOL's PS Ratio compare vs other companies in the European Retail REITs Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
No. of Companies7PS03.26.49.612.816+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: HMSOL is good value based on its Price-To-Sales Ratio (5.3x) compared to the European Retail REITs industry average (5.3x).

Price to Sales Ratio vs Fair Ratio

What is HMSOL'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.

HMSOL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.3x
Fair PS Ratio7x

Price-To-Sales vs Fair Ratio: HMSOL is good value based on its Price-To-Sales Ratio (5.3x) compared to the estimated Fair Price-To-Sales Ratio (7x).

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 HMSOL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
UK£3.08
0%
17.4%UK£4.27UK£1.80n/a14
Dec ’25n/a
UK£3.08
0%
17.3%UK£4.27UK£1.80n/a14
Nov ’25n/a
UK£3.01
0%
22.5%UK£4.26UK£1.50n/a14
Oct ’25n/a
UK£2.90
0%
26.0%UK£4.26UK£1.50n/a13
Sep ’25n/a
UK£2.68
0%
25.6%UK£3.70UK£1.50n/a13
Aug ’25n/a
UK£2.68
0%
24.9%UK£3.70UK£1.50n/a14
Jul ’25n/a
UK£2.68
0%
25.1%UK£3.70UK£1.50n/a14
Jun ’25n/a
UK£2.64
0%
27.5%UK£3.70UK£1.40n/a14
May ’25UK£0.28
UK£2.66
+857.5%
27.6%UK£3.70UK£1.40n/a14
Apr ’25UK£0.30
UK£2.66
+796.5%
27.6%UK£3.70UK£1.40n/a14
Mar ’25UK£0.25
UK£2.61
+926.4%
29.4%UK£3.70UK£1.30n/a14
Feb ’25UK£0.26
UK£2.61
+891.4%
27.8%UK£3.60UK£1.30n/a15
Jan ’25UK£0.28
UK£2.47
+767.3%
30.1%UK£3.60UK£1.30n/a15
Dec ’24UK£0.27
UK£2.45
+812.1%
31.6%UK£3.60UK£1.20n/a15
Nov ’24UK£0.23
UK£2.46
+989.3%
31.0%UK£3.60UK£1.20n/a18
Oct ’24UK£0.24
UK£2.45
+931.0%
30.9%UK£3.60UK£1.30n/a18
Sep ’24UK£0.24
UK£2.39
+898.4%
29.9%UK£3.60UK£1.20n/a18
Aug ’24UK£0.26
UK£2.39
+804.3%
29.4%UK£3.60UK£1.20n/a18
Jul ’24UK£0.25
UK£2.46
+901.3%
26.0%UK£3.60UK£1.50n/a18
Jun ’24UK£0.25
UK£2.48
+882.8%
25.7%UK£3.90UK£1.50n/a19
May ’24UK£0.28
UK£2.49
+791.5%
26.8%UK£3.90UK£1.50UK£0.2819
Apr ’24UK£0.26
UK£2.38
+810.5%
29.9%UK£3.90UK£1.50UK£0.3019
Mar ’24n/a
UK£2.39
0%
29.8%UK£3.90UK£1.50UK£0.2519
Feb ’24n/a
UK£2.31
0%
26.1%UK£3.90UK£1.50UK£0.2619
Jan ’24n/a
UK£2.28
0%
26.3%UK£3.90UK£1.50UK£0.2819
Dec ’23n/a
UK£2.23
0%
27.5%UK£3.90UK£1.50UK£0.2719

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/01/08 23:27
End of Day Share Price 2024/01/08 00:00
Earnings2023/06/30
Annual Earnings2022/12/31

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 here.

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 .

Analyst Sources

Hammerson Plc is covered by 34 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Alda Kule DaleAlphaValue
Pierre-Yves GauthierAlphaValue
Kyle RollinsonArqaam Capital Research Offshore S.A.L.