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TAG IMMOBILIEN AG (TEG.DE) Stock Fundamental Analysis

FRA:TEG - Deutsche Boerse Ag - DE0008303504 - Common Stock - Currency: EUR

12.18  -0.22 (-1.77%)

Fundamental Rating

4

Taking everything into account, TEG scores 4 out of 10 in our fundamental rating. TEG was compared to 69 industry peers in the Real Estate Management & Development industry. Both the profitability and the financial health of TEG get a neutral evaluation. Nothing too spectacular is happening here. TEG has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year TEG has reported negative net income.
In the past year TEG had a positive cash flow from operations.
Of the past 5 years TEG 4 years were profitable.
TEG had a positive operating cash flow in each of the past 5 years.
TEG.DE Yearly Net Income VS EBIT VS OCF VS FCFTEG.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M -200M 400M

1.2 Ratios

TEG has a Return On Assets (-1.26%) which is comparable to the rest of the industry.
TEG has a Return On Equity (-3.31%) which is in line with its industry peers.
TEG's Return On Invested Capital of 2.62% is fine compared to the rest of the industry. TEG outperforms 66.67% of its industry peers.
TEG had an Average Return On Invested Capital over the past 3 years of 2.50%. This is in line with the industry average of 4.12%.
The 3 year average ROIC (2.50%) for TEG is below the current ROIC(2.62%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -1.26%
ROE -3.31%
ROIC 2.62%
ROA(3y)1.33%
ROA(5y)3.59%
ROE(3y)2.85%
ROE(5y)8.54%
ROIC(3y)2.5%
ROIC(5y)2.71%
TEG.DE Yearly ROA, ROE, ROICTEG.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20

1.3 Margins

TEG has a Operating Margin of 42.99%. This is in the better half of the industry: TEG outperforms 74.67% of its industry peers.
TEG's Operating Margin has declined in the last couple of years.
TEG has a Gross Margin of 68.07%. This is in the better half of the industry: TEG outperforms 73.33% of its industry peers.
In the last couple of years the Gross Margin of TEG has remained more or less at the same level.
Industry RankSector Rank
OM 42.99%
PM (TTM) N/A
GM 68.07%
OM growth 3Y-3.42%
OM growth 5Y-3.28%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.01%
GM growth 5Y0.35%
TEG.DE Yearly Profit, Operating, Gross MarginsTEG.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50 -50 100

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4

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so TEG is destroying value.
Compared to 1 year ago, TEG has about the same amount of shares outstanding.
TEG has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, TEG has an improved debt to assets ratio.
TEG.DE Yearly Shares OutstandingTEG.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M
TEG.DE Yearly Total Debt VS Total AssetsTEG.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B

2.2 Solvency

Based on the Altman-Z score of 0.80, we must say that TEG is in the distress zone and has some risk of bankruptcy.
TEG has a Altman-Z score (0.80) which is comparable to the rest of the industry.
The Debt to FCF ratio of TEG is 14.44, which is on the high side as it means it would take TEG, 14.44 years of fcf income to pay off all of its debts.
TEG's Debt to FCF ratio of 14.44 is amongst the best of the industry. TEG outperforms 81.33% of its industry peers.
TEG has a Debt/Equity ratio of 0.89. This is a neutral value indicating TEG is somewhat dependend on debt financing.
TEG has a Debt to Equity ratio of 0.89. This is comparable to the rest of the industry: TEG outperforms 53.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.89
Debt/FCF 14.44
Altman-Z 0.8
ROIC/WACC0.75
WACC3.51%
TEG.DE Yearly LT Debt VS Equity VS FCFTEG.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

2.3 Liquidity

A Current Ratio of 1.03 indicates that TEG should not have too much problems paying its short term obligations.
The Current ratio of TEG (1.03) is comparable to the rest of the industry.
A Quick Ratio of 0.59 indicates that TEG may have some problems paying its short term obligations.
The Quick ratio of TEG (0.59) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 1.03
Quick Ratio 0.59
TEG.DE Yearly Current Assets VS Current LiabilitesTEG.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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3

3. Growth

3.1 Past

TEG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 77.67%, which is quite impressive.
TEG shows a small growth in Revenue. In the last year, the Revenue has grown by 0.65%.
Measured over the past years, TEG shows a small growth in Revenue. The Revenue has been growing by 2.92% on average per year.
EPS 1Y (TTM)77.67%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-12.33%
Revenue 1Y (TTM)0.65%
Revenue growth 3Y2.73%
Revenue growth 5Y2.92%
Sales Q2Q%5.59%

3.2 Future

TEG is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 150.59% yearly.
Based on estimates for the next years, TEG will show a small growth in Revenue. The Revenue will grow by 0.41% on average per year.
EPS Next Y855.86%
EPS Next 2Y264.98%
EPS Next 3Y150.59%
EPS Next 5YN/A
Revenue Next Year2.98%
Revenue Next 2Y1.74%
Revenue Next 3Y9.05%
Revenue Next 5Y0.41%

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
TEG.DE Yearly Revenue VS EstimatesTEG.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 100M 200M 300M 400M 500M
TEG.DE Yearly EPS VS EstimatesTEG.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0.5 1 1.5 2 2.5

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6

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for TEG. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 10.02, the valuation of TEG can be described as reasonable.
81.33% of the companies in the same industry are more expensive than TEG, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of TEG to the average of the S&P500 Index (22.10), we can say TEG is valued rather cheaply.
Industry RankSector Rank
PE N/A
Fwd PE 10.02
TEG.DE Price Earnings VS Forward Price EarningsTEG.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40 60

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, TEG is valued a bit cheaper than the industry average as 72.00% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, TEG is valued cheaply inside the industry as 82.67% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 8.35
EV/EBITDA 24.02
TEG.DE Per share dataTEG.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

TEG's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
TEG's earnings are expected to grow with 150.59% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y264.98%
EPS Next 3Y150.59%

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3

5. Dividend

5.1 Amount

TEG has a Yearly Dividend Yield of 3.23%.
In the last 3 months the price of TEG has falen by -21.42%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
Compared to an average industry Dividend Yield of 7.29, TEG pays a bit more dividend than its industry peers.
TEG's Dividend Yield is a higher than the S&P500 average which is at 2.33.
Industry RankSector Rank
Dividend Yield 3.23%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
TEG.DE Yearly Dividends per shareTEG.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 0.5 1 1.5

5.3 Sustainability

DP0%
EPS Next 2Y264.98%
EPS Next 3Y150.59%
TEG.DE Yearly Income VS Free CF VS DividendTEG.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M -200M 400M

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TAG IMMOBILIEN AG

FRA:TEG (3/7/2025, 7:00:00 PM)

12.18

-0.22 (-1.77%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)11-13 2024-11-13
Earnings (Next)03-25 2025-03-25/amc
Inst Owners72.82%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap2.14B
Analysts82.35
Price Target17.75 (45.73%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.23%
Yearly Dividend0
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)1.34%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)20.59%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.74%
Revenue NY rev (3m)-2.06%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 10.02
P/S 4.54
P/FCF 8.35
P/OCF 5.84
P/B 0.73
P/tB 0.81
EV/EBITDA 24.02
EPS(TTM)-0.59
EYN/A
EPS(NY)1.22
Fwd EY9.98%
FCF(TTM)1.46
FCFY11.98%
OCF(TTM)2.08
OCFY17.11%
SpS2.68
BVpS16.69
TBVpS15.04
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -1.26%
ROE -3.31%
ROCE 3.22%
ROIC 2.62%
ROICexc 2.93%
ROICexgc 3.09%
OM 42.99%
PM (TTM) N/A
GM 68.07%
FCFM 54.35%
ROA(3y)1.33%
ROA(5y)3.59%
ROE(3y)2.85%
ROE(5y)8.54%
ROIC(3y)2.5%
ROIC(5y)2.71%
ROICexc(3y)2.56%
ROICexc(5y)2.79%
ROICexgc(3y)2.63%
ROICexgc(5y)2.83%
ROCE(3y)3.07%
ROCE(5y)3.33%
ROICexcg growth 3Y-2.29%
ROICexcg growth 5Y-5.68%
ROICexc growth 3Y-3.64%
ROICexc growth 5Y-6.53%
OM growth 3Y-3.42%
OM growth 5Y-3.28%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.01%
GM growth 5Y0.35%
F-Score6
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 0.89
Debt/FCF 14.44
Debt/EBITDA 12.19
Cap/Depr 876.3%
Cap/Sales 23.31%
Interest Coverage 3.13
Cash Conversion 170.12%
Profit Quality N/A
Current Ratio 1.03
Quick Ratio 0.59
Altman-Z 0.8
F-Score6
WACC3.51%
ROIC/WACC0.75
Cap/Depr(3y)91.29%
Cap/Depr(5y)122.42%
Cap/Sales(3y)2.04%
Cap/Sales(5y)2.36%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)77.67%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-12.33%
EPS Next Y855.86%
EPS Next 2Y264.98%
EPS Next 3Y150.59%
EPS Next 5YN/A
Revenue 1Y (TTM)0.65%
Revenue growth 3Y2.73%
Revenue growth 5Y2.92%
Sales Q2Q%5.59%
Revenue Next Year2.98%
Revenue Next 2Y1.74%
Revenue Next 3Y9.05%
Revenue Next 5Y0.41%
EBIT growth 1Y-5.76%
EBIT growth 3Y-0.79%
EBIT growth 5Y-0.45%
EBIT Next Year153.14%
EBIT Next 3Y37.91%
EBIT Next 5Y21.02%
FCF growth 1Y169.42%
FCF growth 3Y5.7%
FCF growth 5Y13.13%
OCF growth 1Y248.21%
OCF growth 3Y4.75%
OCF growth 5Y12.83%