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 (€7.5) is trading above our estimate of fair value (€5.48)

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 Ratio9.3x
Earnings€517.33m
Market Cap€4.82b

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 Average10.9x
7.8x4.4%€7.2b
TECOM TECOM Group PJSC
13x2.8%د.إ16.4b
11.4x1.9%CL$3.6t
MLSR Melisron
11.3xn/a₪15.1b
NRP NEPI Rockcastle
9.3x6.9%€92.0b

Price-To-Earnings vs Peers: NRP is good value based on its Price-To-Earnings Ratio (9.3x) compared to the peer average (10.9x).


Price to Earnings Ratio vs Industry

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

23 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NRP 9.3xIndustry Avg. 17.9xNo. of Companies29PE01224364860+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NRP is good value based on its Price-To-Earnings Ratio (9.3x) compared to the European Real Estate industry average (18.2x).


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 Ratio9.3x
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€7.50
€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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