Hammerson Plc

OTCPK:HMSN.F Stock Report

Market Cap: US$1.8b

Hammerson Valuation

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

Below Fair Value: HMSN.F ($3.07) is trading above our estimate of fair value ($1.71)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HMSN.F?

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

The above table shows the Price to Sales ratio for HMSN.F. This is calculated by dividing HMSN.F's market cap by their current revenue.
What is HMSN.F's PS Ratio?
PS Ratio6.2x
SalesUK£229.90m
Market CapUK£1.42b

Price to Sales Ratio vs Peers

How does HMSN.F's PS Ratio compare to its peers?

The above table shows the PS ratio for HMSN.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average6.8x
GTY Getty Realty
9x5.6%US$1.8b
BFS Saul Centers
3.7x4.9%US$980.4m
ROIC Retail Opportunity Investments
6.6x1.1%US$2.2b
IVT InvenTrust Properties
8.1x5.5%US$2.4b
HMSN.F Hammerson
6.2x2.3%US$1.4b

Price-To-Sales vs Peers: HMSN.F is good value based on its Price-To-Sales Ratio (6.2x) compared to the peer average (6.9x).

Price to Sales Ratio vs Industry

How does HMSN.F's PS Ratio compare vs other companies in the US Retail REITs Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
RVIC Retail Value
0.1xn/aUS$5.72m
WHLR Wheeler Real Estate Investment Trust
0.05xn/aUS$5.49m
PRET.Q Pennsylvania Real Estate Investment Trust
0.01xn/aUS$2.98m
SGIC Strategic Realty Trust
0.2xn/aUS$657.44k
No more companies available in this PS range
HMSN.F 6.2xIndustry Avg. 7.4xNo. of Companies5PS03.26.49.612.816+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: HMSN.F is good value based on its Price-To-Sales Ratio (6.2x) compared to the US Retail REITs industry average (7.3x).

Price to Sales Ratio vs Fair Ratio

What is HMSN.F'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.

HMSN.F PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio6.2x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate HMSN.F's Price-To-Sales 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 HMSN.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$3.07
US$3.91
+27.3%
17.3%US$5.41US$2.28n/a14
Nov ’25n/a
US$3.92
0%
22.5%US$5.54US$1.95n/a14
Oct ’25US$4.25
US$3.85
-9.3%
26.0%US$5.66US$1.99n/a13
Sep ’25n/a
US$3.43
0%
25.6%US$4.75US$1.92n/a13
Aug ’25US$3.80
US$3.44
-9.5%
24.9%US$4.76US$1.93n/a14
Jul ’25US$3.54
US$3.38
-4.6%
25.1%US$4.68US$1.90n/a14
Jun ’25n/a
US$3.30
0%
27.5%US$4.62US$1.75n/a14
May ’25n/a
US$3.33
0%
27.6%US$4.64US$1.76n/a14
Apr ’25n/a
US$3.33
0%
27.6%US$4.64US$1.76n/a14
Mar ’25n/a
US$3.31
0%
29.4%US$4.68US$1.65n/a14
Feb ’25US$3.30
US$3.32
+0.5%
27.8%US$4.57US$1.65n/a15
Jan ’25US$3.50
US$3.12
-10.9%
30.1%US$4.55US$1.64n/a15
Dec ’24US$3.30
US$3.11
-5.6%
31.6%US$4.58US$1.53n/a15
Nov ’24n/a
US$2.98
0%
31.0%US$4.37US$1.46n/a18
Oct ’24US$2.87
US$3.06
+6.7%
30.9%US$4.50US$1.63US$4.2518
Sep ’24n/a
US$3.03
0%
29.9%US$4.55US$1.52n/a18
Aug ’24US$3.32
US$3.06
-7.6%
29.4%US$4.62US$1.54US$3.8018
Jul ’24US$2.90
US$3.12
+7.7%
26.0%US$4.58US$1.91US$3.5418
Jun ’24US$3.07
US$3.09
+0.5%
25.7%US$4.86US$1.87n/a19
May ’24US$3.35
US$3.13
-6.4%
26.8%US$4.90US$1.89n/a19
Apr ’24n/a
US$2.92
0%
29.9%US$4.79US$1.84n/a19
Mar ’24US$3.30
US$2.87
-12.9%
29.8%US$4.69US$1.81n/a19
Feb ’24US$3.40
US$2.84
-16.3%
26.1%US$4.81US$1.85US$3.3019
Jan ’24US$2.95
US$2.76
-6.5%
26.3%US$4.71US$1.81US$3.5019
Dec ’23US$3.00
US$2.69
-10.2%
27.5%US$4.70US$1.81US$3.3019
Nov ’23n/a
US$2.39
0%
31.5%US$4.35US$1.67n/a17

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

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