P

Patrizia AG
XETRA:PAT

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Patrizia AG
XETRA:PAT
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Price: 7.54 EUR 2.17% Market Closed
Market Cap: 650.2m EUR
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Intrinsic Value

The intrinsic value of one PAT stock under the Base Case scenario is 10.02 EUR. Compared to the current market price of 7.54 EUR, Patrizia AG is Undervalued by 25%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

PAT Intrinsic Value
10.02 EUR
Undervaluation 25%
Intrinsic Value
Price
P
Worst Case
Base Case
Best Case

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Patrizia AG

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

Economic Moat
Patrizia AG

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Investment Journal
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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Patrizia AG

Current Assets 354.8m
Cash & Short-Term Investments 153.8m
Receivables 23.4m
Other Current Assets 177.7m
Non-Current Assets 1.6B
Long-Term Investments 1.1B
PP&E 76.8m
Intangibles 468.1m
Other Non-Current Assets 9.2m
Current Liabilities 302.9m
Short-Term Debt 65.1m
Other Current Liabilities 237.8m
Non-Current Liabilities 552.9m
Long-Term Debt 308.6m
Other Non-Current Liabilities 244.3m
Efficiency

Earnings Waterfall
Patrizia AG

Revenue
271.2m EUR
Cost of Revenue
-17.6m EUR
Gross Profit
253.6m EUR
Operating Expenses
-280.4m EUR
Operating Income
-26.8m EUR
Other Expenses
5.4m EUR
Net Income
-21.5m EUR

Free Cash Flow Analysis
Patrizia AG

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

In the first quarter, PATRIZIA experienced muted overall business development with low capital raising and transactions, but signs of slow recovery. Equity rates increased to over EUR 300 million, and transaction volumes rose by more than 20% year-over-year to EUR 320 million. Despite market challenges, EBITDA was EUR 17.3 million, aligning with the guidance of EUR 30-60 million for the year. Management fees dropped from EUR 62 million to EUR 57.7 million. The company maintains strong liquidity at EUR 323 million and aims for an AUM between EUR 54 billion and EUR 60 billion for 2024. A dividend of EUR 0.34 per share is proposed, marking a 3% increase.

What is Earnings Call?
Fundamental Scores

PAT Profitability Score
Profitability Due Diligence

Patrizia AG's profitability score is 47/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive Free Cash Flow
Positive Revenue Growth Forecast
Declining ROIC
47/100
Profitability
Score

Patrizia AG's profitability score is 47/100. The higher the profitability score, the more profitable the company is.

PAT Solvency Score
Solvency Due Diligence

Patrizia AG's solvency score is 40/100. The higher the solvency score, the more solvent the company is.

Low D/E
Long-Term Solvency
Short-Term Solvency
Positive Net Debt
40/100
Solvency
Score

Patrizia AG's solvency score is 40/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

PAT Price Targets Summary
Patrizia AG

Wall Street analysts forecast PAT stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for PAT is 9.7 EUR with a low forecast of 7.58 EUR and a high forecast of 11.55 EUR.

Lowest
Price Target
7.58 EUR
0% Upside
Average
Price Target
9.7 EUR
29% Upside
Highest
Price Target
11.55 EUR
53% Upside
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Dividends

Dividend Yield
Lowest
Average
Highest
Dividend Per Share
N/A
Growth 3Y
Growth 5Y
Growth 10Y
Dividend Safety Score
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Unsafe
Unsafe
Safe
Very
Safe
0
25
50
75
100
Shareholder Yield

Current shareholder yield for PAT is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
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Buyback Yield
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Debt Paydown Yield
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Profile

Patrizia AG

Country

Germany

Industry

Real Estate

Market Cap

645m EUR

Dividend Yield

4.51%

Description

PATRIZIA AG is a holding company, which engages in the acquisition, management, reposition, and sale of residential and commercial real estate through its own licensed investment platforms. The company is headquartered in Augsburg, Bayern and currently employs 946 full-time employees. The company went IPO on 2008-02-25. The Company’s business activities include the acquisition, management, repositioning and disposal of residential and commercial real estate through its own licensed investment platforms. The firm provides institutional, semi-professional and private investors with direct and indirect real estate investments across the European countries. The firm manages real estate assets, primarily as portfolio manager and selectively as co-investor for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks. The firm operates through more than 20 offices around the world.

Contact

BAYERN
Augsburg
Fuggerstrasse 26
+4982150910000.0
www.patrizia.ag

IPO

2008-02-25

Employees

946

Officers

Chairman of Management Board, CEO & Executive Director
Dr. Asoka Wohrmann
Founder, Executive Director & Member of Management Board
Mr. Wolfgang Egger
COO, Member of Management Board & Executive Director
Mr. Christoph Glaser
CFO & Executive Director
Mr. Martin Praum
Head of Investment Division & Executive Director
Mr. James Muir
Regional Head of South-West Europe
Mr. Peter Helfrich
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Chief Economist
Dr. Marcus Cieleback
Head of Client Division & Executive Director
Dr. Konrad Finkenzeller
Managing Director of Transactions for UK & Ireland
Mr. Philip Irons
Head of Sustainability
Edward Pugh
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See Also

Discover More
What is the Intrinsic Value of one PAT stock?

The intrinsic value of one PAT stock under the Base Case scenario is 10.02 EUR.

Is PAT stock undervalued or overvalued?

Compared to the current market price of 7.54 EUR, Patrizia AG is Undervalued by 25%.

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