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PropertyGuru Group LimitedNYSE:PGRU Stock Report

Market Cap US$1.1b
Share Price
n/a
US$6.7
n/aintrinsic discount
1Y101.8%
7D0.6%
Portfolio Value
​
View

PropertyGuru Group Limited

NYSE:PGRU Stock Report

Market Cap: US$1.1b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

PropertyGuru Group (PGRU) Stock Overview

Operates digital property classifieds marketplaces that connects homeowners and tenants with verified home service providers in Singapore, Vietnam, Malaysia, Thailand, and Indonesia. More details

PGRU fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance0/6
Financial Health6/6
Dividends0/6

Rewards

Trading at 26.9% below our estimate of its fair value

Earnings are forecast to grow 93.84% per year

Earnings have grown 1.6% per year over the past 5 years

Risk Analysis

No risks detected for PGRU from our risk checks.

PGRU Community Fair Values

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PropertyGuru Group Limited Competitors

Price History & Performance

Summary of share price highs, lows and changes for PropertyGuru Group
Historical stock prices
Current Share PriceUS$6.70
52 Week HighUS$6.70
52 Week LowUS$3.15
Beta0.58
1 Month Change0.90%
3 Month Change1.52%
1 Year Change101.81%
3 Year Changen/a
5 Year Changen/a
Change since IPO-20.80%

Recent News & Updates

Analysis Article • Jul 27

PropertyGuru Group Limited's (NYSE:PGRU) P/S Is Still On The Mark Following 26% Share Price Bounce

Despite an already strong run, PropertyGuru Group Limited ( NYSE:PGRU ) shares have been powering on, with a gain of...
Analysis Article • Jul 15

An Intrinsic Calculation For PropertyGuru Group Limited (NYSE:PGRU) Suggests It's 26% Undervalued

Key Insights The projected fair value for PropertyGuru Group is US$8.18 based on 2 Stage Free Cash Flow to Equity...

Recent updates

Analysis Article • Jul 27

PropertyGuru Group Limited's (NYSE:PGRU) P/S Is Still On The Mark Following 26% Share Price Bounce

Despite an already strong run, PropertyGuru Group Limited ( NYSE:PGRU ) shares have been powering on, with a gain of...
Analysis Article • Jul 15

An Intrinsic Calculation For PropertyGuru Group Limited (NYSE:PGRU) Suggests It's 26% Undervalued

Key Insights The projected fair value for PropertyGuru Group is US$8.18 based on 2 Stage Free Cash Flow to Equity...
Analysis Article • May 23

Market Participants Recognise PropertyGuru Group Limited's (NYSE:PGRU) Revenues Pushing Shares 26% Higher

PropertyGuru Group Limited ( NYSE:PGRU ) shares have continued their recent momentum with a 26% gain in the last month...
Analysis Article • Mar 14

Getting In Cheap On PropertyGuru Group Limited (NYSE:PGRU) Might Be Difficult

PropertyGuru Group Limited's ( NYSE:PGRU ) price-to-sales (or "P/S") ratio of 5.6x may look like a poor investment...
Analysis Article • Sep 30

Why We're Not Concerned About PropertyGuru Group Limited's (NYSE:PGRU) Share Price

When close to half the companies in the Interactive Media and Services industry in the United States have...
Analysis Article • Aug 23

Are Investors Undervaluing PropertyGuru Group Limited (NYSE:PGRU) By 40%?

Key Insights PropertyGuru Group's estimated fair value is US$6.83 based on 2 Stage Free Cash Flow to Equity...
Seeking Alpha • Jun 06

PropertyGuru Should See Slower Growth In 2023

Summary PropertyGuru Group Limited reported its Q1 2023 financial results on May 24, 2023. The firm operates online real estate portals for property sales and related services in various Southeast Asian countries. Management guided 2023 revenue growth materially lower than 2022's growth while operating losses continue and government actions foster an uncertain environment. I'm on Hold for PropertyGuru Group stock for the near term. Read the full article on Seeking Alpha
Analysis Article • May 28

PropertyGuru Group Limited (NYSE:PGRU) First-Quarter Results: Here's What Analysts Are Forecasting For This Year

Shareholders might have noticed that PropertyGuru Group Limited ( NYSE:PGRU ) filed its quarterly result this time last...
Seeking Alpha • Oct 14

PropertyGuru acquires Sendhelper in Singapore

PropertyGuru Group (NYSE:PGRU) has acquired Sendhelper, a Singapore home services technology company. With this acquisition, PropertyGuru enters the home services industry with an aim to provide easy and reliable access to home management and maintenance services. Homeowners and tenants in Singapore can now rely on PropertyGuru to not only find, finance and own homes, but also manage and maintain them. Sendhelper is a strategic addition with long-term growth opportunities and is not expected to have a material impact on the Group’s 2022 financial results.
Seeking Alpha • Oct 03

PropertyGuru: Market Leader With Strong Network Effects

Summary PGRU operates in an industry with a huge TAM and has strong secular tailwinds. PGRU is the market leader with strong top-of-mind share and network effects. PGRU business model insulates it from the cyclicality of the property cycle. Summary I recommend a buy rating on PropertyGuru Group (NYSE:PGRU). It is worth $7.32, representing 24% upside from the date of writing. This opportunity exists as the market does not believe PGRU can hit their FY25e guidance and also because of the weak macro environment (e.g., rising rates). I believe the market is wrong, and PGRU can hit guidance based on the several industry tailwinds it enjoys and the structural levers it has that could expand TAM and drive monetization rates. Company overview PGRU is Southeast Asia's leading Property Technology (PropTech) company. It's a conduit between those looking to buy and sell homes. Its services include an online real estate marketplace that connects buyers, sellers, renters, and landlords. It also has a mortgage brokerage and a data-providing company that serves consumers, real estate agents, software developers, and financial institutions. The marketplace is PGRU's main profit driver where it offers a web-based real estate classifieds listing portal. Property owners and renters can use the website to look for rental units and new construction, while real estate agents and builders can use it to advertise their wares. PGRU makes money from the following sources: annual subscription fees from real estate agents in Singapore, Malaysia, Thailand, and Indonesia; listing fees in Vietnam; fees for optional features and add-ons in all markets; digital advertising fees from developers; and the sale of SAAS for process automation solutions. TAM with strong secular tailwinds PGRU's core markets include Singapore, Vietnam, Malaysia, Thailand, and Indonesia, all of which combined have a population of 478 million and an economy worth $2.5 trillion as of CY20 based on World bank’s data. There is a large current addressable market for PGRU to continue penetrating and selling more services in, as the region is experiencing high GDP growth in addition to having a large current GDP. World Bank The growth of the real estate market in the region is anticipated to be bolstered by a number of secular tailwinds. The most important is the proliferation of internet access, especially via mobile devices. As of today, it is estimated that 63% of the global population have access to the internet, with the highest penetration seen in the developed markets (>90%), while Southeast Asia has relatively lower penetration rates (excluding Malaysia and Singapore). The disparity, however, is predicted to shrink (source 1, 2) as the demand for internet service grows. Widespread use of the internet is important because it makes it possible to use many digital tools that help businesses be more productive and efficient. One example of a digital tool that has boosted the efficacy of the real estate market is the property portal. Developed markets have provided us with real-world examples of successful adoption. Such websites include Zillow (ZG) in the United States, Rightmove in the United Kingdom, and asrealestate.com.au in Australia. These real estate websites have replaced more traditional forms of advertising, such as newspapers and magazines. I think we will see a similar pattern emerge in Southeast Asia as merchants there try to close the information gap and boost productivity. Even though online advertising for real estate in Southeast Asian markets is just getting started, a similar trend is likely to grow over time. PGRU Jan 22 Investor Day The next industry growth tailwind is urbanization. Again, we know that urban population growth drives housing demand in developed markets. While urbanization is already high in developed markets, ~85% in Australia, the United Kingdom, and the United States based on PRGU F-4), it is not the case in Southeast Asia (except Singapore). Urbanization rates are much lower, ranging from 20% to 53%, but are expected to rise (source 1, 2) in the coming years. Increases in individual or household wealth (due to the economic growth) would result in a demand for a higher standard of living (i.e., moving from rural areas to urban cities). This shift implies an increase in housing demand and the need for buyers and sellers to find each other more efficiently. PGRU Jan 22 Investor Day As previously stated, the combination of rising internet adoption and urbanization bodes well for PGRU to continue growing and capitalizing on this tailwind. Aside from industry tailwinds, PGRU can increase its TAM and monetization through structural levers. For example, PGRU could diversify its revenue streams by providing other services such as mortgage and insurance brokerage, anonymous property data to third parties, renovation assistance, and so on. The overall goal is to broaden the TAM and reach as many consumer touchpoints as possible, increasing PGRU's ability to monetize and grow revenues. The total TAM indicated by PGRU is $8.1 billion, and I believe there is a clear path to it penetrating all of them. PGRU Jan 22 Investor Day Market leader with strong top-of-mind share and network effects Amazon's (AMZN) success in online retailing in the United States and Just Eat Takeaway (OTCPK:JTKWY) in the Netherlands and Germany illustrates the winner-take-all dynamics inherent in marketplace businesses. To succeed in a marketplace business, the most important thing is to be at the top of your customers' minds, so it's crucial to promote strong levels of interaction and recognition of your brand. In Singapore, Vietnam, Malaysia, and Thailand, PGRU digital property marketplaces command the lion's share of the engagement market. Normad Capital Google Analytics data shows that between July and December of 2021, 82% of all traffic to PGRU's platforms came from organic traffic (PGRU F-4). This shows that the company's brands are well-known and trusted in the Southeast Asian real estate market. The second most important fact about marketplace restaurants to keep in mind is that the dominant players typically have powerful network effects, making it hard for the minor players to grow to a competitive size. Because of the positive feedback loop created by the high volume of buyers and sellers on its online marketplace, PGRU is able to expand its operations and strengthen its market position as a result of network effects. For example, in developed markets like Australia and the United Kingdom, for example, the online property advertising industry has consolidated into two or three major companies that share a significant majority of online property advertising revenue, so this trend is in line with what Frost & Sullivan has observed. Nature of the business model ensures resiliency through property cycles Due to their annual subscription model, PGRU is protected from market downturns, and during weak property market periods, agents are likely to spend more on discretionary products like exposure boosters in an effort to increase the visibility of their listings. This is not a deal breaker, but I do think investors will appreciate the resilience in the event of a downturn. Valuation At the current stock price of USD4.48 and 161.2 million shares, the market cap is ~$722 million. I believe PGRU is worth USD7.59 representing 69% upside from the date of writing. I believe PGRU will make $557 million in sales and $251 million in EBITDA in FY31. This will be driven by high sales growth in the mid-terms based on management’s guidance and margin expansion.
Seeking Alpha • Sep 04

PropertyGuru: Poised For Outperformance

Summary PropertyGuru delivers a solid quarter despite the inflationary headwinds. Guidance remains intact as well, highlighting the strength across its underlying markets. Given the long-term growth runway, the wide relative valuation discount seems unwarranted.
Seeking Alpha • Aug 25

PropertyGuru reports Q2 earnings beat; reaffirms FY22 guidance

PropertyGuru press release (NYSE:PGRU): Q2 GAAP EPS of $0.02 beats by $0.01. Revenue of $33.03M (+43.6% Y/Y) beats by $4.24M. The company reiterates its full year 2022 outlook of approximately 44% revenue growth, driven by the strong start to 2022 and growth across all core markets.

Shareholder Returns

PGRUUS Interactive Media and ServicesUS Market
7D0.6%-0.7%-0.3%
1Y101.8%71.9%24.0%

Return vs Industry: PGRU exceeded the US Interactive Media and Services industry which returned 55.9% over the past year.

Return vs Market: PGRU exceeded the US Market which returned 27.7% over the past year.

Price Volatility

Is PGRU's price volatile compared to industry and market?
PGRU volatility
PGRU Average Weekly Movement0.4%
Interactive Media and Services Industry Average Movement8.7%
Market Average Movement7.2%
10% most volatile stocks in US Market16.2%
10% least volatile stocks in US Market3.1%

Stable Share Price: PGRU has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: PGRU's weekly volatility (0%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20071,526Hari Vembakkam Krishnanwww.propertygurugroup.com

PropertyGuru Group Limited operates digital property classifieds marketplaces that connects homeowners and tenants with verified home service providers in Singapore, Vietnam, Malaysia, Thailand, and Indonesia. The company offers digital and marketing services for developers. It also offers data and sales process automation products.

PropertyGuru Group Limited Fundamentals Summary

How do PropertyGuru Group's earnings and revenue compare to its market cap?
PGRU fundamental statistics
Market capUS$1.10b
Earnings (TTM)-US$15.54m
Revenue (TTM)US$116.96m
9.4x
P/S Ratio
-70.8x
P/E Ratio

Is PGRU overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
PGRU income statement (TTM)
RevenueS$157.82m
Cost of RevenueS$76.27m
Gross ProfitS$81.55m
Other ExpensesS$102.53m
Earnings-S$20.98m

Last Reported Earnings

Jun 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)-0.13
Gross Margin51.67%
Net Profit Margin-13.29%
Debt/Equity Ratio0%

How did PGRU perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/14 22:11
End of Day Share Price 2024/12/12 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.

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 Github.

Analyst Sources

PropertyGuru Group Limited is covered by 3 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Sachin SalgaonkarBofA Global Research
Nicholas JonesCitizens JMP Securities, LLC
Shuo Han TanHSBC