Elanor Commercial Property Fund
ASX:ECF

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Elanor Commercial Property Fund
ASX:ECF
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Price: 0.615 AUD 2.5% Market Closed
Market Cap: 250.3m AUD
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Relative Value

The Relative Value of one ECF stock under the Base Case scenario is 1.17 AUD. Compared to the current market price of 0.615 AUD, Elanor Commercial Property Fund is Undervalued by 47%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

ECF Relative Value
Base Case
1.17 AUD
Undervaluation 47%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
85
vs Industry
45
Median 3Y
7.1
Median 5Y
7.5
Industry
3.6
Forward
6.1
vs History
vs Industry
33
Median 3Y
8.1
Median 5Y
-9
Industry
16.7
Forward
8.4
vs History
85
vs Industry
48
Median 3Y
10.4
Median 5Y
10.7
Industry
10.9
vs History
55
vs Industry
40
Median 3Y
6.9
Median 5Y
6.8
Industry
13.3
vs History
91
vs Industry
55
Median 3Y
1
Median 5Y
1.1
Industry
0.8
vs History
85
vs Industry
43
Median 3Y
10.6
Median 5Y
11.1
Industry
6.6
Forward
8.9
vs History
vs Industry
Median 3Y
0
Median 5Y
0
Industry
11.9
vs History
85
vs Industry
51
Median 3Y
16
Median 5Y
16.6
Industry
15.8
Forward
9.8
vs History
85
vs Industry
52
Median 3Y
16
Median 5Y
16.6
Industry
19
Forward
9.8
vs History
81
vs Industry
46
Median 3Y
15.8
Median 5Y
16.2
Industry
18.5
vs History
81
vs Industry
41
Median 3Y
15.8
Median 5Y
16.2
Industry
20.1
vs History
91
vs Industry
42
Median 3Y
1
Median 5Y
1
Industry
0.7

Multiples Across Competitors

ECF Competitors Multiples
Elanor Commercial Property Fund Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
AU
Elanor Commercial Property Fund
ASX:ECF
250.3m AUD 4.9 -9.4 10.9 10.9
US
Alexandria Real Estate Equities Inc
NYSE:ARE
16.8B USD 5.4 60.5 13.9 31.1
US
Boston Properties Inc
NYSE:BXP
11.8B USD 3.5 32.5 14.3 26.3
US
Vornado Realty Trust
NYSE:VNO
7.9B USD 4.5 -146.7 21.7 63.6
US
COPT Defense Properties
NYSE:CDP
6.9B USD 9.3 50.7 44.5 44.5
JP
Nippon Building Fund Inc
TSE:8951
1.1T JPY 10.8 24.6 26.2 35.3
FR
Covivio SA
PAR:COV
5.4B EUR 5 -7.3 16.2 17.7
JP
Japan Real Estate Investment Corp
TSE:8952
774B JPY 9.2 20.7 21.4 27.9
US
Kilroy Realty Corp
NYSE:KRC
4.8B USD 4.3 24.3 13.6 28.5
US
Cousins Properties Inc
NYSE:CUZ
4.6B USD 5.6 90 13.8 42.5
AU
Dexus
ASX:DXS
7.4B AUD 8.2 -4.6 35.1 35.1
P/E Multiple
Earnings Growth P/E to Growth
AU
Elanor Commercial Property Fund
ASX:ECF
Average P/E: 43.3
Negative Multiple: -9.4
N/A N/A
US
Alexandria Real Estate Equities Inc
NYSE:ARE
60.5
538%
0.1
US
Boston Properties Inc
NYSE:BXP
32.5
57%
0.6
US
Vornado Realty Trust
NYSE:VNO
Negative Multiple: -146.7
-66%
N/A
US
COPT Defense Properties
NYSE:CDP
50.7
N/A N/A
JP
Nippon Building Fund Inc
TSE:8951
24.6
7%
3.5
FR
Covivio SA
PAR:COV
Negative Multiple: -7.3 N/A N/A
JP
Japan Real Estate Investment Corp
TSE:8952
20.7
N/A N/A
US
Kilroy Realty Corp
NYSE:KRC
24.3
-33%
N/A
US
Cousins Properties Inc
NYSE:CUZ
90
-25%
N/A
AU
Dexus
ASX:DXS
Negative Multiple: -4.6 N/A N/A

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