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STOCK COMPARISON

Fortune Real Estate Investment Trust vs Simon Property Group: Fair Value & Quality

Both stocks run through our valuation models. Here is how Fortune Real Estate Investment Trust (0778) and Simon Property Group (SPG) compare, as of Sep 30, 2026.

As of Sep 30, 2026, Fair Value Calculator sees Fortune Real Estate Investment Trust as the less overvalued of the two: Fortune Real Estate Investment Trust trades at HK$4.34 versus a fair value of HK$2.70 (−37.7%), while Simon Property Group trades at $204 versus $114 (−44.2%).
Fortune Real Estate Investment Trust
0778.HK · HKD · Real Estate
−37.7%
upside to fair value
overvalued
PriceHK$4.34
Fair ValueHK$2.70
Quality58/100
Simon Property Group
SPG · USD · Real Estate
−44.2%
upside to fair value
overvalued
Price$204
Fair Value$114
Quality58/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Fortune Real Estate Investment TrustSimon Property Group
Valuation
n/aP/E (TTM)14.4×
14.6×P/E ex one-offs (FY2025)n/a
n/aForward P/E (FY2027)30.1×
n/aMedian P/E at FY-end (10 FY, reported earnings)22.6×
0.69×P/S (TTM)11.20×
0.05×P/B14.92×
6.3×EV/EBITDA20.6×
n/aPEG8.74×
−37.7%Fair value upside−44.2%
7.9%Dividend yield4.3%
HK$0.34Dividend per share$8.80
Profitability
64.1%Operating margin46.0%
1.18×EBIT margin trend (5Y)1.17×
-0.3%Return on equity120.5%
1.8%Return on assets5.6%
Growth
-3.9%Revenue growth (YoY)19.5%
-1.6%Avg. growth/yr (3Y)6.3%
-1.8%Avg. growth/yr (5Y)6.7%
n/aValue creation/yr+10.1%
Balance & size
2.6×Interest coverage (EBIT/interest)3.3×
0.23×Debt / equity5.46×
$1BMarket cap$78B
weakGrowth qualityhealthy
The P/E excluding one-off items is only shown where the special items are documented in the accounts (our own raw data or SEC filings). If one side lacks it, the reported P/E stays scored.
Simon Property Group, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 22.6.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Fortune Real Estate Investment Trust leads: 8 to 5 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Fortune Real Estate Investment Trustof which business quality 57 · market factors 46 Simon Property Groupof which business quality 55 · market factors 55
ProfitabilityMargins and returns on capital today
3
59
Quality GrowthAre margins and returns improving?
33
70
CashflowEarnings quality: real cash, not paper profit
100
77
Fin. StrengthBalance sheet, leverage, solvency risk
49
9
InvestmentDisciplined investing over empire-building
100
35
Low VolatilityCalm price path (market factor)
85
64
MomentumPrice trend over the last 3–12 months (market factor)
37
50
52W MomentumDistance to the 52-week high (market factor)
18
53
Net IssuanceShare count: buybacks or dilution?
73
86

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyFortune Real Estate Investment TrustPrice HK$4.34Simon Property GroupPrice $204
DCF Models−35.9%below the priceHK$2.78−30.4%below the price$142
Dividend Discountn/a−29.2%below the price$145
Multiples+43.0%above the priceHK$6.20−37.4%below the price$128
Asset-Based+88.0%above the priceHK$8.15−94.7%below the price$10.79
Growth DCF−36.4%below the priceHK$2.76−49.7%below the price$103
Economic Profitn/a−69.9%below the price$61.59
Minimum−36.4%below the priceHK$2.76−94.7%below the price$10.79
Maximum+88.0%above the priceHK$8.15−29.2%below the price$145
Median+3.6%close to the priceHK$4.49−43.6%below the price$115
Geometric mean+2.3%close to the priceHK$4.44−63.2%below the price$75.09

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Fortune Real Estate Investment Trust: 7 of 11 models see the stock below the current price.

Simon Property Group: 16 of 16 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Fortune Real Estate Investment Trust
Price HK$4.34
Fair Value HK$2.70
Bear HK$1.57Bull HK$5.02
Simon Property Group
Price $204
Fair Value $114
Bear $54.78Bull $181

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Fortune Real Estate Investment Trust · Real Estate

Quality score58 · above median
Fair value upside−37.7% · bottom 25%

Simon Property Group · Real Estate

Quality score58 · above median
Fair value upside−44.2% · bottom 25%

Bottom line

As of Sep 30, 2026, Fair Value Calculator sees Fortune Real Estate Investment Trust as the less overvalued of the two: Fortune Real Estate Investment Trust trades at HK$4.34 versus a fair value of HK$2.70 (−37.7%), while Simon Property Group trades at $204 versus $114 (−44.2%).

Fortune Real Estate Investment Trust has the higher quality score (58/100).

Open Fortune Real Estate Investment Trust live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.