Primary Health Properties Plc

OTCPK:PHPR.F Stock Report

Market Cap: US$1.6b

Primary Health Properties Valuation

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

Below Fair Value: PHPR.F ($1.23) is trading below our estimate of fair value ($1.45)

Significantly Below Fair Value: PHPR.F is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for PHPR.F. This is calculated by dividing PHPR.F's market cap by their current revenue.
What is PHPR.F's PS Ratio?
PS Ratio7.1x
SalesUK£177.80m
Market CapUK£1.26b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for PHPR.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7.2x
LTC LTC Properties
8.9x-2.4%US$1.8b
SILA Sila Realty Trust
7.4x9.3%US$1.4b
NHI National Health Investors
10.7x13.7%US$3.5b
CHTH CNL Healthcare Properties
1.8xn/aUS$652.3m
PHPR.F Primary Health Properties
7.1x-0.4%US$1.3b

Price-To-Sales vs Peers: PHPR.F is good value based on its Price-To-Sales Ratio (7.1x) compared to the peer average (7.2x).

Price to Sales Ratio vs Industry

How does PHPR.F's PS Ratio compare vs other companies in the US Health Care REITs Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
DHC Diversified Healthcare Trust
0.4x5.3%US$581.47m
HLTC National Healthcare Properties
0.1xn/aUS$52.72m
GBCS Selectis Health
0.1xn/aUS$5.21m
No more companies available in this PS range
PHPR.F 7.1xIndustry Avg. 5.6xNo. of Companies3PS02.85.68.411.214+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PHPR.F is expensive based on its Price-To-Sales Ratio (7.1x) compared to the US Health Care REITs industry average (5.6x).

Price to Sales Ratio vs Fair Ratio

What is PHPR.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.

PHPR.F PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio7.1x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate PHPR.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 PHPR.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
US$1.33
0%
6.2%US$1.42US$1.20n/a9
Nov ’25US$1.23
US$1.36
+10.6%
8.7%US$1.56US$1.18n/a9
Oct ’25n/a
US$1.37
0%
9.6%US$1.58US$1.17n/a9
Sep ’25n/a
US$1.33
0%
9.5%US$1.55US$1.15n/a9
Aug ’25n/a
US$1.33
0%
9.5%US$1.55US$1.15n/a9
Jul ’25n/a
US$1.32
0%
9.6%US$1.52US$1.13n/a9
Jun ’25n/a
US$1.28
0%
9.4%US$1.50US$1.11n/a9
May ’25US$1.13
US$1.30
+14.9%
10.6%US$1.51US$1.12n/a9
Apr ’25n/a
US$1.29
0%
9.4%US$1.51US$1.12n/a9
Mar ’25n/a
US$1.31
0%
9.2%US$1.52US$1.13n/a9
Feb ’25n/a
US$1.30
0%
9.0%US$1.48US$1.14n/a9
Jan ’25n/a
US$1.30
0%
9.0%US$1.48US$1.14n/a9
Dec ’24n/a
US$1.30
0%
9.0%US$1.48US$1.14n/a9
Nov ’24n/a
US$1.30
0%
9.0%US$1.48US$1.14US$1.239
Oct ’24n/a
US$1.34
0%
9.4%US$1.53US$1.18n/a8
Sep ’24n/a
US$1.36
0%
9.9%US$1.55US$1.19n/a8
Aug ’24n/a
US$1.45
0%
17.7%US$2.07US$1.20n/a8
Jul ’24n/a
US$1.54
0%
17.8%US$2.07US$1.25n/a8
Jun ’24n/a
US$1.51
0%
17.6%US$2.00US$1.21n/a8
May ’24n/a
US$1.53
0%
16.2%US$2.02US$1.24US$1.139
Apr ’24n/a
US$1.51
0%
16.2%US$1.99US$1.23n/a9
Mar ’24n/a
US$1.50
0%
16.7%US$1.95US$1.20n/a9
Feb ’24n/a
US$1.65
0%
17.4%US$2.04US$1.30n/a9
Jan ’24n/a
US$1.65
0%
18.6%US$1.99US$1.27n/a9
Dec ’23n/a
US$1.67
0%
18.6%US$2.02US$1.29n/a9
Nov ’23n/a
US$1.63
0%
13.8%US$1.86US$1.24n/a9

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

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