Hammerson Plc

LSE:HMSO Stock Report

Market Cap: UK£1.6b

Hammerson Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

UK£1.32
Fair Value
130.8% overvalued intrinsic discount
12
Number of Analysts

Below Fair Value: HMSO (£3.05) is trading above our estimate of fair value (£1.32)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HMSO. This is calculated by dividing HMSO's market cap by their current earnings.
What is HMSO's PE Ratio?
PE Ratio27.9x
EarningsUK£58.00m
Market CapUK£1.62b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HMSO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.5x
SUPR Supermarket Income REIT
16x17.39%UK£985.8m
SHC Shaftesbury Capital
8.1x-3.71%UK£2.6b
NRR NewRiver REIT
12.6x14.31%UK£299.1m
SAFE Safestore Holdings
5.3x-3.73%UK£1.6b
HMSO Hammerson
27.9x18.49%UK£1.6b

Price-To-Earnings vs Peers: HMSO is expensive based on its Price-To-Earnings Ratio (27.9x) compared to the peer average (10.5x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HMSO 27.9xIndustry Avg. 14.3xNo. of Companies7PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HMSO is expensive based on its Price-To-Earnings Ratio (27.9x) compared to the European Retail REITs industry average (14.1x).

Price to Earnings Ratio vs Fair Ratio

What is HMSO'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.

HMSO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio27.9x
Fair PE Ratio13.4x

Price-To-Earnings vs Fair Ratio: HMSO is expensive based on its Price-To-Earnings Ratio (27.9x) compared to the estimated Fair Price-To-Earnings Ratio (13.4x).

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 HMSO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£3.05
UK£3.04
-0.31%
13.68%UK£3.85UK£2.45n/a12
Oct ’26UK£2.92
UK£2.97
+2.02%
14.70%UK£3.85UK£2.34n/a12
Sep ’26UK£2.86
UK£2.97
+3.99%
14.88%UK£3.85UK£2.34n/a12
Aug ’26UK£2.94
UK£2.81
-4.49%
17.10%UK£3.85UK£2.03n/a11
Jul ’26UK£3.04
UK£2.84
-6.44%
18.77%UK£4.21UK£2.05n/a12
Jun ’26UK£2.83
UK£2.83
0%
19.11%UK£4.21UK£2.05n/a12
May ’26UK£2.56
UK£2.88
+12.75%
18.61%UK£4.21UK£2.05n/a12
Apr ’26UK£2.48
UK£2.94
+18.52%
17.09%UK£4.21UK£2.05n/a13
Mar ’26UK£2.72
UK£3.07
+12.70%
16.61%UK£4.21UK£2.20n/a14
Feb ’26UK£2.85
UK£2.97
+3.96%
18.20%UK£4.21UK£1.80n/a14
Jan ’26UK£2.80
UK£3.08
+10.16%
17.37%UK£4.27UK£1.80n/a14
Dec ’25UK£2.93
UK£3.08
+5.39%
17.27%UK£4.27UK£1.80n/a14
Nov ’25UK£2.92
UK£3.01
+3.30%
22.53%UK£4.26UK£1.50UK£3.0514
Oct ’25UK£3.22
UK£2.90
-10.04%
25.98%UK£4.26UK£1.50UK£2.9213
Sep ’25UK£2.84
UK£2.68
-5.68%
25.60%UK£3.70UK£1.50UK£2.8613
Aug ’25UK£2.91
UK£2.68
-7.95%
24.91%UK£3.70UK£1.50UK£2.9414
Jul ’25UK£2.80
UK£2.68
-4.40%
25.14%UK£3.70UK£1.50UK£3.0414
Jun ’25UK£2.79
UK£2.64
-5.34%
27.45%UK£3.70UK£1.40UK£2.8314
May ’25UK£2.79
UK£2.66
-4.69%
27.64%UK£3.70UK£1.40UK£2.5614
Apr ’25UK£2.98
UK£2.66
-10.77%
27.64%UK£3.70UK£1.40UK£2.4814
Mar ’25UK£2.56
UK£2.61
+2.04%
29.36%UK£3.70UK£1.30UK£2.7214
Feb ’25UK£2.63
UK£2.61
-0.71%
27.82%UK£3.60UK£1.30UK£2.8515
Jan ’25UK£2.84
UK£2.47
-13.03%
30.11%UK£3.60UK£1.30UK£2.8015
Dec ’24UK£2.79
UK£2.45
-12.19%
31.55%UK£3.60UK£1.20UK£2.9315
Nov ’24UK£2.28
UK£2.46
+7.87%
31.00%UK£3.60UK£1.20UK£2.9218
UK£3.04
Fair Value
0.3% overvalued intrinsic discount
12
Number of Analysts

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 Analysis2025/10/31 12:28
End of Day Share Price 2025/10/31 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Hammerson Plc is covered by 26 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
Kyle RollinsonArqaam Capital Research Offshore S.A.L.
Eleanor FrewBarclays
Paul MayBarclays