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Wharf Real Estate Investment Co (FRA:4WF) Intrinsic Value: Projected FCF : €8.51 (As of May. 09, 2024)


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What is Wharf Real Estate Investment Co Intrinsic Value: Projected FCF?

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.

As of today (2024-05-09), Wharf Real Estate Investment Co's Intrinsic Value: Projected FCF is €8.51. The stock price of Wharf Real Estate Investment Co is €2.84. Therefore, Wharf Real Estate Investment Co's Price-to-Intrinsic-Value-Projected-FCF of today is 0.3.

The historical rank and industry rank for Wharf Real Estate Investment Co's Intrinsic Value: Projected FCF or its related term are showing as below:

FRA:4WF' s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 0.33   Med: 0.49   Max: 0.59
Current: 0.33

During the past 10 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Wharf Real Estate Investment Co was 0.59. The lowest was 0.33. And the median was 0.49.

FRA:4WF's Price-to-Projected-FCF is ranked better than
73.93% of 1266 companies
in the Real Estate industry
Industry Median: 0.635 vs FRA:4WF: 0.33

Wharf Real Estate Investment Co Intrinsic Value: Projected FCF Historical Data

The historical data trend for Wharf Real Estate Investment Co's Intrinsic Value: Projected FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Wharf Real Estate Investment Co Intrinsic Value: Projected FCF Chart

Wharf Real Estate Investment Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Intrinsic Value: Projected FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only - 8.39 9.39 9.00 8.44

Wharf Real Estate Investment Co Semi-Annual Data
Dec14 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
Intrinsic Value: Projected FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 9.39 - 9.00 - 8.44

Competitive Comparison of Wharf Real Estate Investment Co's Intrinsic Value: Projected FCF

For the Real Estate Services subindustry, Wharf Real Estate Investment Co's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Wharf Real Estate Investment Co's Price-to-Projected-FCF Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Wharf Real Estate Investment Co's Price-to-Projected-FCF distribution charts can be found below:

* The bar in red indicates where Wharf Real Estate Investment Co's Price-to-Projected-FCF falls into.



Wharf Real Estate Investment Co Intrinsic Value: Projected FCF Calculation

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.

The details of how we calculate the intrinsic value of stocks are described in detail here.

This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + 0.8 * Total Stockholders Equity (most recent) ) / Shares Outstanding (Diluted Average)

In the case of negative Total Stockholders Equity, the following formula is used (see Explanation section below for the reason):

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + Total Stockholders Equity (most recent) / 0.8 ) / Shares Outstanding (Diluted Average)


Add all the Free Cash Flow together and divide 6 will get Wharf Real Estate Investment Co's Free Cash Flow(6 year avg) = €881.67.

Wharf Real Estate Investment Co's Intrinsic Value: Projected FCF for today is calculated as

Intrinsic Value: Projected FCF=(Growth Multiple*Free Cash Flow (6 year avg)+Total Stockholders Equity (Dec23)*0.8)/Shares Outstanding (Diluted Average)
=(9.5203515959648*881.66757142857+22474.942*0.8)/3036.000
=8.69

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Wharf Real Estate Investment Co  (FRA:4WF) Intrinsic Value: Projected FCF Explanation

The growth multiple is capped between 8.35 and 17.74.

Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.

Wharf Real Estate Investment Co's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as

Price-to-Intrinsic-Value-Projected-FCF=Share Price/Intrinsic Value: Projected FCF
=2.84/8.6870022630963
=0.33

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Wharf Real Estate Investment Co Intrinsic Value: Projected FCF Related Terms

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Wharf Real Estate Investment Co (FRA:4WF) Business Description

Traded in Other Exchanges
Address
https://www.wharfreic.com/en/investor/reports, 16th Floor, Ocean Centre, Harbour City, Kowloon, Hong Kong, HKG
Wharf spun off Wharf Real Estate Investment Co in November 2017. It is a leading property investor with a focus in prime retail assets in Hong Kong. Rental income from two flagship assets Harbour City and Times Square account for around 80% of revenue. The balance is made up of The Murray hotel, a suburban mall in Plaza Hollywood, two offices in Central CBD. The group also holds two malls in Singapore and a mixed-development in Suzhou. Wharf was originally a shipping company but transformed into a property developer and investor in the 1960s by redeveloping its unused industrial assets, many located in city-center and waterfront locations. The Harbour City site was previously wharfs, and the Times Square site was a tram depot in the 1970s. Wheelock holds a 45% stake in WREIC.

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