Ichigo Office REIT Investment Corp
TSE:8975

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Ichigo Office REIT Investment Corp
TSE:8975
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Price: 77 700 JPY -0.51% Market Closed
Market Cap: 120.8B JPY
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Relative Value

The Relative Value of one Ichigo Office REIT Investment Corp stock under the Base Case scenario is 102 764.77 JPY. Compared to the current market price of 77 700 JPY, Ichigo Office REIT Investment Corp is Undervalued by 24%.

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.

Relative Value
Base Case
102 764.77 JPY
Undervaluation 24%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
46
vs Industry
24
Median 3Y
7.3
Median 5Y
7.3
Industry
3.8
Forward
6.7
vs History
36
vs Industry
27
Median 3Y
18
Median 5Y
17.9
Industry
16.8
Forward
15.5
vs History
49
vs Industry
32
Median 3Y
12.1
Median 5Y
11.6
Industry
11.2
vs History
46
vs Industry
17
Median 3Y
20.3
Median 5Y
20.1
Industry
13.5
vs History
63
vs Industry
26
Median 3Y
1.2
Median 5Y
1.2
Industry
0.9
vs History
22
vs Industry
19
Median 3Y
12.6
Median 5Y
12.5
Industry
6.8
Forward
12.2
vs History
14
vs Industry
13
Median 3Y
24.6
Median 5Y
23.9
Industry
12
vs History
20
vs Industry
23
Median 3Y
20.3
Median 5Y
20.2
Industry
16.1
Forward
26.4
vs History
14
vs Industry
23
Median 3Y
24.9
Median 5Y
24.5
Industry
19.1
vs History
44
vs Industry
30
Median 3Y
21.2
Median 5Y
20.5
Industry
18.6
vs History
66
vs Industry
18
Median 3Y
41.3
Median 5Y
40.5
Industry
20.3
vs History
49
vs Industry
25
Median 3Y
1
Median 5Y
1
Industry
0.7

Multiples Across Competitors

Competitors Multiples
Ichigo Office REIT Investment Corp Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
JP
Ichigo Office REIT Investment Corp
TSE:8975
117.6B JPY 7.4 18.3 21.3 26.5
US
Alexandria Real Estate Equities Inc
NYSE:ARE
18.6B USD 5.9 66.5 14.7 32.9
US
Boston Properties Inc
NYSE:BXP
12.6B USD 3.7 34.8 14.7 27.1
US
Vornado Realty Trust
NYSE:VNO
8B USD 4.5 -148.7 21.8 64
JP
Nippon Building Fund Inc
TSE:8951
1.1T JPY 11.2 25.5 26.8 36.2
US
COPT Defense Properties
NYSE:CDP
6.9B USD 9.5 -59.7 -179.9 -179.9
FR
Covivio SA
PAR:COV
5.8B EUR 5.3 -7.8 16.7 18.2
JP
Japan Real Estate Investment Corp
TSE:8952
785.4B JPY 9.8 22 23.2 30.7
US
SL Green Realty Corp
NYSE:SLG
4.9B USD 5.6 -28.8 30 112.9
AU
Dexus
ASX:DXS
7.5B AUD 8.3 -4.7 35.5 35.5
US
Kilroy Realty Corp
NYSE:KRC
4.7B USD 4.2 23.7 13.4 28.1
P/E Multiple
Earnings Growth
JP
Ichigo Office REIT Investment Corp
TSE:8975
Average P/E: 31.8
18.3
-34%
US
Alexandria Real Estate Equities Inc
NYSE:ARE
66.5
592%
US
Boston Properties Inc
NYSE:BXP
34.8
73%
US
Vornado Realty Trust
NYSE:VNO
Negative Multiple: -148.7
-66%
JP
Nippon Building Fund Inc
TSE:8951
25.5
7%
US
COPT Defense Properties
NYSE:CDP
Negative Multiple: -59.7 N/A
FR
Covivio SA
PAR:COV
Negative Multiple: -7.8 N/A
JP
Japan Real Estate Investment Corp
TSE:8952
22
-10%
US
SL Green Realty Corp
NYSE:SLG
Negative Multiple: -28.8 N/A
AU
Dexus
ASX:DXS
Negative Multiple: -4.7 N/A
US
Kilroy Realty Corp
NYSE:KRC
23.7
-37%

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