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PATRIZIA SE (0FJC) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of PATRIZIA SE €3.35, price €6.87, upside -51.2%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Real Estate · GB · ISIN DE000PAT1AG3

PS Thin data Sep 24, 2026

PATRIZIA SE

0FJC · LSE

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value €3.35 · Strongly overvalued (−51.2%)
!Quality 54/100
!Mixed Growth (revenue 3y +6.4 %/yr)
!Thin margins · 7.0% net margin (TTM)
✓Low debt
·5.2% dividend yield · Safety not assessed
!Narrow moat 37/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

€19.56 €5.64 Fair Value €3.35 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range €5.64 – €19.56 · fair‑value band €3.35 – €3.46 · the €6.87 price screens above the €3.35 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

PATRIZIA SE has been providing investment opportunities in smart real assets for institutional, semi-professional, and private investors for more than 40 years, focusing on real estate and infrastructure.

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PATRIZIA SE has been providing investment opportunities in smart real assets for institutional, semi-professional, and private investors for more than 40 years, focusing on real estate and infrastructure. PATRIZIA's investment solutions are driven by the (DUEL) megatrends - digital, urban, energy and living transitions - and capitalize on the opportunities arising from these transformative global shifts. PATRIZIA currently has approximately EUR 56bn in assets under management (AUM) and employs around 900 professionals across 26 locations worldwide. PATRIZIA SE has been committed to making a positive impact since its founding. In 1992, the company began collaborating closely with Bunter Kreis (Colorful Circle) in Germany to provide aftercare for children with severe diseases. Since 1999, the PATRIZIA Foundation has provided more than 750,000 children and young people worldwide with access to education, healthcare and a safe home, enabling them to live better, self-determined lives. PATRIZIA SE was established and incorporation in 1984 in Germany.

Stock analysis

PATRIZIA SE (0FJC) currently trades at €6.87, while our model-based Fair Value estimate is €3.35, 51.2% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of €5.35 per share, and 0 of the 16 models we run sit above the €6.87 price.

Bear case: the Dividend Discount group reads lowest at €0.9600, and 16 of the 16 models stay below the price. Evidence for this calculation is low.

Scenario range: €3.35 (bear) to €3.46 (bull), the price of €6.87 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 54/100 (solid quality), in the Real Estate sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

PATRIZIA SE reported revenue of €302M in FY2020 versus €819M in FY2016, a compound −22.1%/yr. Reported net income was €37.7M in FY2020, compounding −36.9%/yr from FY2016.

Key figures

Market cap €1.7B · P/S ratio 6.55 · Dividend yield 5.2% · Net margin 12.5% · Return on equity 1.4% · Return on assets (EBIT) 7.3% · Operating margin 10.4% · Revenue (TTM) €258M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 18% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at −51%, 0FJC screens richer than that median.

Fair Value models

Bear €3.35 Fair Value €3.35 Bull €3.46
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF €5.04 €6.25 €8.28 78
Growth DCF €5.17 €6.31 €8.09 76
5Y EBITDA Exit €4.24 €5.41 €6.95 73
All 16 models by family
DCF Models
FCF DCF €5.04 €6.25 €8.28 78
5Y Revenue Exit €3.43 €4.00 €4.81 71
5Y EBITDA Exit €4.24 €5.41 €6.95 73
10Y Revenue Exit €4.09 €4.55 €5.00 65
10Y EBITDA Exit €4.57 €5.35 €6.15 67
Dividend Discount
Gordon GGM €0.8900 €0.9600 €1.07 67
DDM Multi-Stage €0.8900 €1.06 €1.28 65
Multiples
P/S Multiple €1.95 €2.60 €3.25 58
P/B Multiple €1.95 €2.60 €3.25 55
EV/EBIT €3.24 €3.97 €4.69 66
EV/EBITDA €4.05 €5.04 €6.04 67
EV/Revenue €2.26 €2.78 €3.29 54
Asset-Based
NCAV (Graham) €2.51 €3.36 €5.02 54
Growth DCF
Growth DCF €5.17 €6.31 €8.09 76
Rev-Margin DCF €3.43 €4.10 €4.98 71
Economic Profit
Residual Income €3.48 €3.40 €3.40 73

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Quality Score breakdown

Overall quality 54/100

Of which business quality 59 · Market factors (momentum, volatility) 40

Profitability 27
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 43
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 58/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−24.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.4%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
34.4% (2016) → 10.8% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

0FJC screens overvalued: fair value 51% below the price. Compare with Vingroup Joint Stock Company →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate Services · 530 stocks

Beats the industry median on 2/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 54 · Below median
Fair Value upside −57.4% · Bottom 25%
Profitability
Return on equity (TTM) 1.4% · Below median
Return on assets 0.2% · Bottom 25%
Net margin (TTM) 7.0% · Below median
Operating margin (TTM) 10.4% · Below median
Growth and dividend
Revenue growth 1.8% · Below median
Dividend yield (TTM) 5.2% · Above median
Balance sheet
Debt / equity 0.19× · Below median

Valuation Multiplesvs Real Estate Services median · lower = cheaper

P/B 1.59× · Priciest 25%
P/S (TTM) 7.61× · Priciest 25%
EV/EBITDA 74.6× · Priciest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 232,000 VND 25,731 VND −89%
CBRE Group CBRE $134.55 $91.06 −32%
KE Holdings 2423 HK$42.92 HK$17.16 −60%
Swire Properties Limited 1972 HK$24.32 HK$13.39 −45%
Cellnex Telecom, S.A CLNX €23.99 €23.94 +0%
Vonovia SE VNA €16.82 €36.55 +117%
Jones Lang LaSalle Incorporated JLL $308.07 $540.65 +75%
Wharf Real Estate Investment Company 1997 HK$30.54 HK$27.42 −10%
CoStar Group CSGP $26.95 $6.19 −77%
China Resources Mixc Lifestyle Services Limited 1209 HK$37.00 HK$56.36 +52%

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PATRIZIA SE · Fair Value
€3.35 −51%Fair Value
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Cite: Fair Value Calculator (2026). "PATRIZIA SE Fair Value". https://www.fairvalue-calculator.com/stock/0FJC

Frequently asked questions

Is PATRIZIA SE (0FJC) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €3.35 versus a price of €6.87, about −51% upside (overvalued).
What is the fair value of 0FJC?
Our model-based fair value for PATRIZIA SE is €3.35 (as of Sep 24, 2026), built from audited fundamentals. The current price: €6.87.
What is the quality score of 0FJC?
PATRIZIA SE has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for PATRIZIA SE (0FJC)?
Our model-based price target is the fair value of €3.35 (as of Sep 24, 2026) from 16 valuation models. Cautious scenario €3.35, optimistic scenario €3.46. It is a calculation from audited fundamentals, not an analyst target.
What is the PATRIZIA SE stock forecast for 2026?
Our models put fair value at €3.35, about −51% upside versus a price of €6.87 (overvalued). Cautious scenario €3.35, optimistic scenario €3.46. The calculation is refreshed regularly with new filings.
What is the revenue of PATRIZIA SE (0FJC)?
PATRIZIA SE reported trailing-twelve-month revenue of about €258M (latest available figure, as of Sep 24, 2026).
Does PATRIZIA SE pay a dividend?
PATRIZIA SE currently shows a dividend yield of about 5.24% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of PATRIZIA SE (0FJC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PATRIZIA SE it is €3.35 per share (as of Sep 24, 2026), against a price of €6.87. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is PATRIZIA SE stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0FJC trades above its calculated fair value: price €6.87, fair value €3.35, a gap of about −51% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0FJC?
No. The price is what the market pays today (€6.87); the fair value is what the company's own numbers justify (€3.35). For PATRIZIA SE the two are €3.52 per share apart. That gap is exactly why we show both numbers side by side.
How much is PATRIZIA SE worth?
The market values PATRIZIA SE at about €1.7B (market capitalisation, as of Sep 24, 2026). Per share that is €6.87; our models calculate a fair value of €3.35 per share.
What do the bullish and bearish scenarios say about 0FJC?
Our models span a range for PATRIZIA SE: cautious scenario €3.35, base €3.35, optimistic €3.46 per share (as of Sep 24, 2026, price €6.87). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PATRIZIA SE (0FJC)?
Balance-sheet figures for PATRIZIA SE (as of Sep 24, 2026): return on equity 1.4%, debt of 0.19 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 0FJC from its 52-week high?
PATRIZIA SE trades at €6.87, about 18% below its 52-week high of €8.37 and 5% above the low of €6.52 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €3.35 is for.
Which stocks are comparable to PATRIZIA SE?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, KE Holdings, Swire Properties Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is PATRIZIA SE stock attractive at the current price?
The data as of Sep 24, 2026: price €6.87, calculated fair value €3.35 (−51%), Quality Score 54/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0FJC calculated?
We run PATRIZIA SE through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €3.35, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. PATRIZIA SE itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of PATRIZIA SE (0FJC)?
The closing price on Oct 2, 2026 was €6.87. Our model-based fair value is €3.35, about −51% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PATRIZIA SE right now?
The price sits above even our optimistic bull case (€3.46). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (€3.35 to €3.46), unusually little disagreement for a valuation.

Key figures of PATRIZIA SE

How large is the market capitalisation of PATRIZIA SE (0FJC)?
The market capitalisation of PATRIZIA SE is €1.7B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of PATRIZIA SE (0FJC)?
The price-to-sales ratio of PATRIZIA SE is 6.55 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of PATRIZIA SE (0FJC)?
The dividend yield of PATRIZIA SE is 5.2%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of PATRIZIA SE (0FJC)?
The net margin of PATRIZIA SE is 12.5% (fiscal year 2020). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of PATRIZIA SE (0FJC)?
The return on equity (ROE) of PATRIZIA SE is 1.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of PATRIZIA SE (0FJC)?
On an EBIT basis the return on assets of PATRIZIA SE is 7.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of PATRIZIA SE (0FJC)?
The operating margin of PATRIZIA SE is 10.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PATRIZIA SE (0FJC)?
Revenue at PATRIZIA SE is growing +1.8% versus a year earlier (3y avg +6.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at PATRIZIA SE (0FJC)?
Earnings per share at PATRIZIA SE are growing −53.7% versus a year earlier. How much earnings per share grew versus a year earlier.
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