Public Property Invest Valuation

Is PUBLI 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-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: PUBLI (NOK16.95) is trading above our estimate of fair value (NOK4.98)

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

Key Valuation Metric

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

Key metric: As PUBLI is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PUBLI. This is calculated by dividing PUBLI's market cap by their current revenue.
What is PUBLI's PS Ratio?
PS Ratio	5.7x
Sales	NOK 627.00m
Market Cap	NOK 3.57b

PUBLI 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	12.7x
Enterprise Value/EBITDA	11.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for PUBLI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	7.3x
AURA Aurora Eiendom	4.3x	2.0%	NOK 2.5b
VIEI Victoria Eiendom	6.8x	n/a	NOK 8.9b
EISP Eiendomsspar	12.3x	n/a	NOK 13.3b
ENTRA Entra	5.9x	-1.5%	NOK 20.1b
PUBLI Public Property Invest	5.7x	3.9%	NOK 3.6b

Price-To-Sales vs Peers: PUBLI is good value based on its Price-To-Sales Ratio (5.7x) compared to the peer average (7.3x).

Price to Sales Ratio vs Industry

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

64 Companies	Price / Sales	Estimated Growth	Market Cap

64 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: PUBLI is expensive based on its Price-To-Sales Ratio (5.7x) compared to the European Real Estate industry average (4.9x).

Price to Sales Ratio vs Fair Ratio

What is PUBLI'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.

PUBLI PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	5.7x
Fair PS Ratio	5.5x

Price-To-Sales vs Fair Ratio: PUBLI is expensive based on its Price-To-Sales Ratio (5.7x) compared to the estimated Fair Price-To-Sales Ratio (5.5x).

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 PUBLI forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	NOK 16.95	NOK 21.33 +25.9%	2.2%	NOK 22.00	NOK 21.00	n/a	3
Nov ’25	NOK 17.62	NOK 21.33 +21.1%	2.2%	NOK 22.00	NOK 21.00	n/a	3
Oct ’25	NOK 19.09	NOK 21.00 +10.0%	6.7%	NOK 23.00	NOK 20.00	n/a	3

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.