Warehouse REIT plc

BATS-CHIXE:WHRL Stock Report

Market Cap: UK£318.6m

Warehouse REIT Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Discounted Cash Flow
Simply Wall St
UK£1.39
Fair Value
45.9% undervalued intrinsic discount
2
Number of Analysts

Below Fair Value: WHRL (£0.75) is trading below our estimate of fair value (£1.39)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for WHRL. This is calculated by dividing WHRL's market cap by their current earnings.
What is WHRL's PE Ratio?
PE Ratio8.5x
EarningsUK£37.44m
Market CapUK£318.65m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for WHRL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.6x
SHED Urban Logistics REIT
26.1x54.6%UK£471.6m
BBOX Tritax Big Box REIT
20.5x27.0%UK£3.3b
CREI Custodian Property Income REIT
19.9x30.6%UK£320.9m
NRR NewRiver REIT
23.9x48.2%UK£334.0m
WHRL Warehouse REIT
8.5x8.7%UK£318.6m

Price-To-Earnings vs Peers: WHRL is good value based on its Price-To-Earnings Ratio (8.5x) compared to the peer average (22.8x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies10PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: WHRL is good value based on its Price-To-Earnings Ratio (8.5x) compared to the Global Industrial REITs industry average (19x).

Price to Earnings Ratio vs Fair Ratio

What is WHRL'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.

WHRL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.5x
Fair PE Ratio15.2x

Price-To-Earnings vs Fair Ratio: WHRL is good value based on its Price-To-Earnings Ratio (8.5x) compared to the estimated Fair Price-To-Earnings Ratio (15.2x).

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 WHRL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£0.75
UK£1.03
+36.8%
1.9%UK£1.05UK£1.01n/a2
Jan ’26UK£0.79
UK£1.03
+31.2%
1.9%UK£1.05UK£1.01n/a2
Dec ’25UK£0.84
UK£1.03
+22.9%
1.9%UK£1.05UK£1.01n/a2
Nov ’25UK£0.87
UK£1.06
+22.2%
0.7%UK£1.07UK£1.05n/a2
Oct ’25UK£0.87
UK£1.06
+21.9%
0.7%UK£1.07UK£1.05n/a2
Sep ’25UK£0.87
UK£1.07
+23.1%
0.9%UK£1.08UK£1.06n/a2
Aug ’25UK£0.87
UK£1.06
+22.4%
1.6%UK£1.08UK£1.05n/a2
Jul ’25UK£0.82
UK£1.06
+30.2%
1.4%UK£1.08UK£1.05n/a2
Jun ’25UK£0.81
UK£1.06
+31.6%
1.5%UK£1.08UK£1.05n/a2
May ’25UK£0.80
UK£1.06
+32.5%
1.5%UK£1.08UK£1.05n/a2
Apr ’25UK£0.82
UK£1.10
+34.3%
1.4%UK£1.12UK£1.09n/a2
Mar ’25UK£0.77
UK£1.10
+44.2%
1.4%UK£1.12UK£1.09n/a2
Feb ’25UK£0.85
UK£1.10
+29.3%
1.1%UK£1.12UK£1.09n/a2
Jan ’25UK£0.91
UK£1.10
+21.2%
0.1%UK£1.10UK£1.10UK£0.792
Dec ’24UK£0.83
UK£1.11
+34.1%
1.2%UK£1.13UK£1.10UK£0.842
Nov ’24UK£0.74
UK£1.10
+48.8%
10.7%UK£1.24UK£0.95UK£0.873
Oct ’24UK£0.82
UK£1.10
+34.3%
11.2%UK£1.25UK£0.95UK£0.873
Sep ’24UK£0.84
UK£1.15
+37.0%
10.7%UK£1.31UK£1.00UK£0.873
Aug ’24UK£0.85
UK£1.15
+35.2%
10.7%UK£1.31UK£1.00UK£0.873
Jul ’24UK£0.80
UK£1.19
+48.7%
6.8%UK£1.30UK£1.12UK£0.823
Jun ’24UK£1.02
UK£1.22
+19.8%
5.6%UK£1.30UK£1.13UK£0.813
May ’24UK£1.09
UK£1.40
+28.2%
17.6%UK£1.79UK£1.15UK£0.804
Apr ’24UK£1.03
UK£1.39
+35.3%
17.5%UK£1.79UK£1.15UK£0.824
Mar ’24UK£1.06
UK£1.41
+32.3%
17.7%UK£1.80UK£1.15UK£0.774
Feb ’24UK£1.03
UK£1.41
+35.9%
17.7%UK£1.80UK£1.15UK£0.854
Jan ’24UK£1.05
UK£1.43
+36.1%
15.7%UK£1.75UK£1.13UK£0.914
Analyst Price Target
Consensus Narrative from 2 Analysts
UK£1.03
Fair Value
27.2% undervalued intrinsic discount
2
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/09 17:09
End of Day Share Price 2025/01/09 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

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

Warehouse REIT plc is covered by 8 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tom HorneBerenberg
Michael PrewJefferies LLC
James CarswellPeel Hunt LLP