Industrial & Infrastructure Fund Investment Corporation

TSE:3249 Stock Report

Market Cap: JP¥295.2b

Industrial & Infrastructure Fund Investment Valuation

Is 3249 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 3249 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3249 (¥116400) is trading below our estimate of fair value (¥126122.83)

Significantly Below Fair Value: 3249 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3249?

Key metric: As 3249 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3249. This is calculated by dividing 3249's market cap by their current earnings.
What is 3249's PE Ratio?
PE Ratio18.5x
EarningsJP¥15.93b
Market CapJP¥295.22b

Price to Earnings Ratio vs Peers

How does 3249's PE Ratio compare to its peers?

The above table shows the PE ratio for 3249 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average26.3x
3466 LaSalle LOGIPORT REIT
20.7x-1.0%JP¥268.5b
8967 Japan Logistics Fund
24.2x2.5%JP¥248.0b
3471 Mitsui Fudosan Logistics Park
37.1x9.6%JP¥326.8b
3281 GLP J-REIT
23.4x-1.8%JP¥624.5b
3249 Industrial & Infrastructure Fund Investment
18.5x2.0%JP¥295.2b

Price-To-Earnings vs Peers: 3249 is good value based on its Price-To-Earnings Ratio (18.5x) compared to the peer average (26.4x).

Price to Earnings Ratio vs Industry

How does 3249's PE Ratio compare vs other companies in the Asian Industrial REITs Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
3249 18.5xIndustry Avg. 20.7xNo. of Companies5PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 3249 is good value based on its Price-To-Earnings Ratio (18.5x) compared to the Asian Industrial REITs industry average (20.7x).

Price to Earnings Ratio vs Fair Ratio

What is 3249'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.

3249 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.5x
Fair PE Ratio21.9x

Price-To-Earnings vs Fair Ratio: 3249 is good value based on its Price-To-Earnings Ratio (18.5x) compared to the estimated Fair Price-To-Earnings Ratio (21.9x).

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 3249 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥116,400.00
JP¥139,000.00
+19.4%
8.7%JP¥158,000.00JP¥123,000.00n/a7
Nov ’25JP¥115,100.00
JP¥140,714.29
+22.3%
8.4%JP¥158,000.00JP¥123,000.00n/a7
Oct ’25JP¥118,900.00
JP¥143,428.57
+20.6%
6.7%JP¥158,000.00JP¥123,000.00n/a7
Sep ’25JP¥124,200.00
JP¥143,333.33
+15.4%
7.2%JP¥158,000.00JP¥123,000.00n/a6
Aug ’25JP¥124,200.00
JP¥143,333.33
+15.4%
7.2%JP¥158,000.00JP¥123,000.00n/a6
Jul ’25JP¥126,500.00
JP¥152,500.00
+20.6%
5.4%JP¥165,000.00JP¥143,000.00n/a6
Jun ’25JP¥125,400.00
JP¥153,600.00
+22.5%
5.6%JP¥165,000.00JP¥143,000.00n/a5
May ’25JP¥130,500.00
JP¥160,000.00
+22.6%
4.1%JP¥169,000.00JP¥150,000.00n/a5
Apr ’25JP¥135,300.00
JP¥161,500.00
+19.4%
3.8%JP¥169,000.00JP¥150,000.00n/a6
Mar ’25JP¥126,100.00
JP¥162,200.00
+28.6%
4.0%JP¥169,000.00JP¥150,000.00n/a5
Feb ’25JP¥132,300.00
JP¥162,200.00
+22.6%
4.0%JP¥169,000.00JP¥150,000.00n/a5
Jan ’25JP¥139,600.00
JP¥162,200.00
+16.2%
4.0%JP¥169,000.00JP¥150,000.00n/a5
Dec ’24JP¥135,100.00
JP¥163,000.00
+20.7%
3.8%JP¥169,000.00JP¥150,000.00n/a6
Nov ’24JP¥136,000.00
JP¥163,142.86
+20.0%
3.6%JP¥169,000.00JP¥150,000.00JP¥115,100.007
Oct ’24JP¥138,200.00
JP¥165,571.43
+19.8%
5.3%JP¥181,000.00JP¥150,000.00JP¥118,900.007
Sep ’24JP¥146,000.00
JP¥171,666.67
+17.6%
4.9%JP¥185,000.00JP¥162,000.00JP¥124,200.006
Aug ’24JP¥144,400.00
JP¥171,666.67
+18.9%
4.9%JP¥185,000.00JP¥162,000.00JP¥124,200.006
Jul ’24JP¥151,600.00
JP¥170,500.00
+12.5%
4.4%JP¥185,000.00JP¥162,000.00JP¥126,500.006
Jun ’24JP¥153,000.00
JP¥176,264.33
+15.2%
7.7%JP¥201,586.00JP¥162,000.00JP¥125,400.006
May ’24JP¥155,900.00
JP¥178,764.33
+14.7%
9.0%JP¥201,586.00JP¥162,000.00JP¥130,500.006
Apr ’24JP¥144,200.00
JP¥186,512.29
+29.3%
7.5%JP¥201,586.00JP¥165,000.00JP¥135,300.007
Mar ’24JP¥142,300.00
JP¥186,512.29
+31.1%
7.5%JP¥201,586.00JP¥165,000.00JP¥126,100.007
Feb ’24JP¥143,900.00
JP¥193,940.86
+34.8%
5.9%JP¥210,000.00JP¥175,000.00JP¥132,300.007
Jan ’24JP¥151,800.00
JP¥197,512.29
+30.1%
4.4%JP¥210,000.00JP¥181,000.00JP¥139,600.007
Dec ’23JP¥156,100.00
JP¥197,512.29
+26.5%
4.4%JP¥210,000.00JP¥181,000.00JP¥135,100.007
Nov ’23JP¥159,300.00
JP¥197,512.29
+24.0%
4.4%JP¥210,000.00JP¥181,000.00JP¥136,000.007

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

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