Tosei Reit Investment Valuation

Q: What is the Fair Price of 3451 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

3451 (¥124500) is trading above our estimate of [[fair value]] (¥118376.76)

Is 3451 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

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 3451 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3451 (¥124500) is trading above our estimate of fair value (¥118376.76)

Significantly Below Fair Value: 3451 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3451?

Key metric: As 3451 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3451. This is calculated by dividing 3451's market cap by their current earnings.
What is 3451's PE Ratio?
PE Ratio	16.9x
Earnings	JP¥2.77b
Market Cap	JP¥46.87b

3451 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/Revenue	12.3x
Enterprise Value/EBITDA	20.4x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 3451's PE Ratio compare to its peers?

The above table shows the PE ratio for 3451 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	17.7x
2971 ESCON JAPAN REIT Investment	17.7x	n/a	JP¥40.9b
2989 Tokaido REIT	18.4x	n/a	JP¥29.9b
3476 MIRAI	17.7x	8.8%	JP¥77.6b
3488 XYMAX REIT Investment	16.9x	n/a	JP¥27.9b
3451 Tosei Reit Investment	16.9x	n/a	JP¥46.9b

Price-To-Earnings vs Peers: 3451 is good value based on its Price-To-Earnings Ratio (16.9x) compared to the peer average (17.7x).

Price to Earnings Ratio vs Industry

How does 3451's PE Ratio compare vs other companies in the JP REITs Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

No more companies available in this PE range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 3451 is good value based on its Price-To-Earnings Ratio (16.9x) compared to the JP REITs industry average (18.2x).

Price to Earnings Ratio vs Fair Ratio

What is 3451'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.

3451 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	16.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 3451's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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