LondonMetric Property Plc

LSE:LMP Stock Report

Mkt Cap: UK£1.8b

We’ve recently updated our valuation analysis.

LondonMetric Property Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

LMP 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/Revenue20.3x
Enterprise Value/EBITDA23.3x
PEG Ration/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for LMP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average12.2x
BBOX Tritax Big Box REIT
12.4x6.5%UK£2.6b
WHR Warehouse REIT
8.3x1.3%UK£433.4m
SHED Urban Logistics REIT
13.5x11.5%UK£643.8m
SGRO SEGRO
14.6x6.5%UK£9.7b
LMP LondonMetric Property
12.9x7.2%UK£1.8b

Price-To-Sales vs Peers: LMP is expensive based on its Price-To-Sales Ratio (12.9x) compared to the peer average (12.2x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a81.7%
 n/an/an/a
No. of CompaniesPS048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a81.7%
 n/an/an/a
No more companies

Price-To-Sales vs Industry: LMP is expensive based on its Price-To-Sales Ratio (12.9x) compared to the Global Industrial REITs industry average (9.8x)

Price to Sales Ratio vs Fair Ratio

What is LMP'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.

LMP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio12.9x
Fair PS Ratio15x

Price-To-Sales vs Fair Ratio: LMP is good value based on its Price-To-Sales Ratio (12.9x) compared to the estimated Fair Price-To-Sales Ratio (15x).

Share Price vs Fair Value

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

Below Fair Value: LMP (£1.8) is trading above our estimate of fair value (£1.41)

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

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 LMP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£1.80
UK£2.09
+16.2%
17.1%UK£2.78UK£1.66n/a8
May ’24UK£1.93
UK£2.06
+7.2%
14.5%UK£2.78UK£1.66n/a12
Apr ’24UK£1.76
UK£2.06
+17.5%
14.5%UK£2.78UK£1.66n/a12
Mar ’24UK£1.85
UK£2.06
+11.1%
14.3%UK£2.78UK£1.66n/a12
Feb ’24UK£1.90
UK£2.06
+8.5%
15.8%UK£2.78UK£1.66n/a12
Jan ’24UK£1.72
UK£2.10
+21.6%
16.9%UK£2.78UK£1.66n/a12
Dec ’23UK£1.78
UK£2.20
+23.7%
19.3%UK£2.99UK£1.65n/a12
Nov ’23UK£1.91
UK£2.37
+24.3%
18.6%UK£3.00UK£1.65n/a12
Oct ’23UK£1.75
UK£2.51
+43.6%
15.1%UK£3.00UK£1.70n/a12
Sep ’23UK£2.02
UK£2.79
+38.3%
12.1%UK£3.40UK£2.00n/a12
Aug ’23UK£2.47
UK£2.87
+16.1%
8.9%UK£3.40UK£2.35n/a12
Jul ’23UK£2.28
UK£3.03
+33.2%
6.8%UK£3.40UK£2.71n/a12
Jun ’23UK£2.53
UK£3.01
+19.0%
6.2%UK£3.35UK£2.71UK£1.8012
May ’23UK£2.70
UK£2.99
+10.9%
4.9%UK£3.20UK£2.79UK£1.9312
Apr ’23UK£2.75
UK£2.99
+8.7%
5.1%UK£3.25UK£2.79UK£1.7612
Mar ’23UK£2.56
UK£2.99
+16.5%
4.8%UK£3.25UK£2.79UK£1.8512
Feb ’23UK£2.67
UK£2.99
+12.0%
4.8%UK£3.25UK£2.79UK£1.9012
Jan ’23UK£2.83
UK£2.90
+2.2%
7.3%UK£3.20UK£2.30UK£1.7212
Dec ’22UK£2.75
UK£2.80
+1.7%
9.7%UK£3.20UK£2.30UK£1.7812
Nov ’22UK£2.61
UK£2.66
+1.9%
7.6%UK£3.00UK£2.30UK£1.9112
Oct ’22UK£2.44
UK£2.61
+7.2%
6.6%UK£2.99UK£2.30UK£1.7511
Sep ’22UK£2.65
UK£2.55
-3.7%
5.7%UK£2.75UK£2.30UK£2.0211
Aug ’22UK£2.49
UK£2.51
+0.8%
5.7%UK£2.75UK£2.30UK£2.4711
Jul ’22UK£2.34
UK£2.46
+5.2%
6.4%UK£2.75UK£2.20UK£2.2811
Jun ’22UK£2.35
UK£2.42
+3.1%
5.8%UK£2.65UK£2.20UK£2.5311

Analyst Forecast: Target price is less than 20% higher than the current share price.

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