Investore Property Limited

NZSE:IPL Stock Report

Market Cap: NZ$441.1m

Investore Property Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: IPL (NZ$1.15) is trading above our estimate of fair value (NZ$0.98)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

IPL 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/Revenue11.7x
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for IPL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7.4x
KPG Kiwi Property Group
6.4x-1.2%NZ$1.6b
ARG Argosy Property
6x-2.2%NZ$919.2m
PFI Property For Industry
9.4x4.1%NZ$1.1b
VHP Vital Healthcare Property Trust
7.8x0.9%NZ$1.3b
IPL Investore Property
5.9x-0.8%NZ$441.1m

Price-To-Sales vs Peers: IPL is good value based on its Price-To-Sales Ratio (5.9x) compared to the peer average (7.4x).

Price to Earnings Ratio vs Industry

How does IPL's PE Ratio compare vs other companies in the Global Retail REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a17.9%
 n/an/an/a
No. of CompaniesPS048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a17.9%
 n/an/an/a
No more companies

Price-To-Sales vs Industry: IPL is good value based on its Price-To-Sales Ratio (5.9x) compared to the Global Retail REITs industry average (6.3x).

Price to Sales Ratio vs Fair Ratio

What is IPL'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.

IPL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.9x
Fair PS Ratio7.3x

Price-To-Sales vs Fair Ratio: IPL is good value based on its Price-To-Sales Ratio (5.9x) compared to the estimated Fair Price-To-Sales Ratio (7.3x).

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 IPL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNZ$1.15
NZ$1.24
+7.5%
2.1%NZ$1.26NZ$1.20n/a3
Nov ’25NZ$1.21
NZ$1.24
+2.1%
2.0%NZ$1.26NZ$1.20n/a3
Oct ’25NZ$1.18
NZ$1.24
+4.7%
2.0%NZ$1.26NZ$1.20n/a3
Sep ’25NZ$1.18
NZ$1.23
+4.2%
1.8%NZ$1.25NZ$1.20n/a3
Aug ’25NZ$1.15
NZ$1.20
+4.3%
3.6%NZ$1.24NZ$1.14n/a3
Jul ’25NZ$1.02
NZ$1.20
+17.6%
3.6%NZ$1.24NZ$1.14n/a3
Jun ’25NZ$1.00
NZ$1.20
+20.0%
3.6%NZ$1.24NZ$1.14n/a3
May ’25NZ$1.10
NZ$1.22
+10.9%
3.5%NZ$1.26NZ$1.16n/a3
Apr ’25NZ$1.16
NZ$1.22
+5.2%
3.5%NZ$1.26NZ$1.16n/a3
Mar ’25NZ$1.10
NZ$1.22
+10.9%
3.5%NZ$1.26NZ$1.16n/a3
Feb ’25NZ$1.18
NZ$1.20
+1.4%
2.8%NZ$1.24NZ$1.16n/a3
Jan ’25NZ$1.20
NZ$1.20
-0.3%
2.8%NZ$1.24NZ$1.16n/a3
Dec ’24NZ$1.00
NZ$1.25
+25.0%
8.5%NZ$1.40NZ$1.16n/a3
Nov ’24NZ$1.17
NZ$1.36
+16.5%
1.9%NZ$1.40NZ$1.34NZ$1.213
Oct ’24NZ$1.27
NZ$1.39
+9.7%
2.9%NZ$1.44NZ$1.34NZ$1.183
Sep ’24NZ$1.26
NZ$1.42
+13.0%
5.6%NZ$1.53NZ$1.34NZ$1.183
Aug ’24NZ$1.47
NZ$1.52
+3.6%
6.4%NZ$1.64NZ$1.40NZ$1.153
Jul ’24NZ$1.42
NZ$1.54
+8.2%
5.3%NZ$1.64NZ$1.44NZ$1.023
Jun ’24NZ$1.38
NZ$1.56
+13.3%
3.5%NZ$1.64NZ$1.52NZ$1.003
May ’24NZ$1.42
NZ$1.59
+12.0%
4.6%NZ$1.69NZ$1.52NZ$1.103
Apr ’24NZ$1.41
NZ$1.58
+11.8%
5.5%NZ$1.69NZ$1.48NZ$1.163
Mar ’24NZ$1.50
NZ$1.58
+5.1%
5.5%NZ$1.69NZ$1.48NZ$1.103
Feb ’24NZ$1.53
NZ$1.58
+3.1%
5.5%NZ$1.69NZ$1.48NZ$1.183
Jan ’24NZ$1.50
NZ$1.58
+5.5%
4.8%NZ$1.69NZ$1.48NZ$1.204
Dec ’23NZ$1.50
NZ$1.58
+5.5%
4.8%NZ$1.69NZ$1.48NZ$1.004
Nov ’23NZ$1.53
NZ$1.64
+7.3%
4.1%NZ$1.71NZ$1.55NZ$1.174

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

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