NEPI Rockcastle N.V.

ENXTAM:NRP Stock Report

Market Cap: €4.8b

NEPI Rockcastle Valuation

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

Below Fair Value: NRP (€7.25) is trading above our estimate of fair value (€5.53)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for NRP. This is calculated by dividing NRP's market cap by their current earnings.
What is NRP's PE Ratio?
PE Ratio9.4x
Earnings€517.33m
Market Cap€4.84b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for NRP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.8x
CTPNV CTP
7.6x4.9%€7.1b
TECOM TECOM Group PJSC
12.4x3.4%د.إ15.7b
MLSR Melisron
11.7xn/a₪15.6b
MALLPLAZA Plaza
11.4x3.3%CL$3.6t
NRP NEPI Rockcastle
9.4x-2.1%€92.5b

Price-To-Earnings vs Peers: NRP is good value based on its Price-To-Earnings Ratio (9.4x) compared to the peer average (10.8x).

Price to Earnings Ratio vs Industry

How does NRP's PE Ratio compare vs other companies in the European Real Estate Industry?

30 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NRP 9.4xIndustry Avg. 18.0xNo. of Companies30PE01632486480+
30 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NRP is good value based on its Price-To-Earnings Ratio (9.4x) compared to the European Real Estate industry average (18x).

Price to Earnings Ratio vs Fair Ratio

What is NRP'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.

NRP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NRP'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?

The above table shows the analyst NRP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€7.25
€8.01
+10.5%
2.6%€8.24€7.69n/a4
Dec ’25€7.50
€7.97
+6.3%
2.1%€8.12€7.69n/a4
Nov ’25€7.25
€7.97
+9.9%
2.1%€8.12€7.69n/a4
Oct ’25€7.70
€7.46
-3.1%
5.7%€7.89€6.88n/a3
Sep ’25€7.40
€7.22
-2.5%
4.3%€7.62€6.88n/a3
Aug ’25€7.00
€6.86
-2.0%
3.4%€7.20€6.53n/a4
Jul ’25€6.70
€6.79
+1.3%
2.3%€6.92€6.53n/a4
Jun ’25€6.50
€6.69
+2.9%
3.2%€6.92€6.42n/a4
May ’25€6.20
€6.63
+6.9%
3.2%€6.92€6.42n/a3
Apr ’25€6.20
€6.65
+7.2%
3.0%€6.92€6.48n/a3
Mar ’25€6.55
€6.62
+1.1%
2.5%€6.85€6.48n/a3
Feb ’25€6.00
€6.46
+7.7%
0.9%€6.53€6.39n/a3
Jan ’25€6.10
€6.39
+4.7%
1.0%€6.46€6.31n/a3
Dec ’24€5.60
€6.41
+14.5%
1.1%€6.46€6.31€7.503
Nov ’24€5.05
€6.43
+27.4%
1.4%€6.53€6.31€7.253
Oct ’24€5.45
€6.43
+18.0%
1.4%€6.53€6.31€7.703
Sep ’24€5.70
€6.28
+10.1%
3.5%€6.53€5.99€7.403
Aug ’24€6.00
€6.29
+4.8%
2.7%€6.53€6.16€7.003
Jul ’24€5.50
€6.45
+17.3%
4.9%€6.94€6.16€6.704
Jun ’24€5.25
€6.45
+22.9%
4.9%€6.94€6.16€6.504
May ’24€5.60
€6.45
+15.2%
4.9%€6.94€6.16€6.204
Apr ’24€5.50
€6.38
+15.9%
5.1%€6.94€6.16€6.204
Mar ’24€5.80
€6.16
+6.2%
7.4%€6.94€5.53€6.555
Feb ’24€5.65
€6.29
+11.3%
7.1%€6.94€5.53€6.005
Jan ’24€6.45
€6.32
-1.9%
7.2%€6.94€5.53€6.105
Dec ’23€5.60
€6.06
+8.2%
5.7%€6.50€5.53€5.604

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 08:19
End of Day Share Price 2024/12/20 00:00
Earnings2024/06/30
Annual Earnings2023/12/31

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 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

NEPI Rockcastle N.V. is covered by 16 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mahir HamdulayAbsa Bank Limited
Francois Du ToitAnchor Stockbrokers Proprietary Limited
Pranita DayaAnchor Stockbrokers Proprietary Limited