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German High Street Properties A/S Class B (GERHSP) Fair Value & Analysis

Real Estate · DK · Market cap 256M DKK (≈ $39.7M) · ISIN DK0060093524

GH German High Street Properties A/S Class B GERHSP · CO
Pricekr 66.50
Fair Valuekr 73.42
Upside+10.4%
Quality52/100
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Strengths

Trades 9% below our fair value of kr 73.42
Moderate debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −3.5 %/yr)
!Loss-making · -129.9% net margin
!Trails peers (3/12)
!Narrow moat 29/100
Weak Growth (revenue 5y −3.5 %/yr)
Loss-making · -129.9% net margin
Moderate debt · generates free cash flow
Trails peers (3/12)
Narrow moat 29/100
Evidence: Low Range kr 53.21 – kr 93.63 Share as image

Fair value as of: Aug 13, 2026

From 5 valuation models · updated 17 days ago

Share price −5.0% over the past month.

A solid business, trading 9% below our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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What matters now

  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

kr 148.59 kr 46.31 Fair Value kr 73.42 Dec 2012 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range kr 46.31 – kr 148.59 · fair‑value band kr 53.21 – kr 93.63 · the kr 66.50 price screens below the kr 73.42 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

German High Street Properties A/S Class B (GERHSP) currently trades at kr 66.50, while our model-based Fair Value estimate is kr 73.42, implying the stock looks roughly 10.4% undervalued today. The Quality Score stands at 52/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Trailing-twelve-month revenue stands at 5.0M DKK. Revenue grew 45.1% year over year. It earns a return on equity of -9.9%. Net debt stands at 27.1M DKK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 53.21 (bear case) to kr 93.63 (bull case); at kr 66.50, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 16% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -25% fair-value upside, at 10%, GERHSP screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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. Evidence
Highest evidence
5Y Revenue Exit kr 0.3900 67
Rev-Margin DCF kr 0.1800 67
EV/EBIT kr 0.9100 kr 3.62 kr 6.32 59
All 5 models by family
DCF Models
5Y Revenue Exit kr 0.3900 67
Multiples
EV/EBIT kr 0.9100 kr 3.62 kr 6.32 59
EV/Revenue kr 1.11 50
Asset-Based
NCAV (Graham) kr 7.81 kr 10.46 kr 15.61 54
Growth DCF
Rev-Margin DCF kr 0.1800 67

Widest divergence: Asset-Based (kr 10.46) versus Multiples (kr 3.62). Highest evidence: 5Y Revenue Exit (67).

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Key figures & financial health

P/S ratio 57.7 TTM
EPS (TTM) kr -12.10
Net margin -118% FY2025
Return on equity -9.9% TTM
Return on assets (EBIT) 1.1% avg 5y
Operating margin 41.2% TTM
More key figures
Growth
Revenue (TTM) 5.0M DKK TTM
Revenue growth (YoY) +45.1% 3y avg +2.1%
EPS growth (YoY) -59.3%
Balance sheet & cash flow
Free cash flow 1.4M DKK FY2025
Net debt 27.1M DKK FY2025 · ≈ 18.8 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 51 · Market factors (momentum, volatility) 31

Profitability 1
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 99
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 48
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

German High Street Properties A/S invests in retail properties in Scandinavia, Germany, Switzerland, and England. It provides shops, offices, and residential units to small and institutional stock investors, tenants, and renters.

Full company description

German High Street Properties A/S invests in retail properties in Scandinavia, Germany, Switzerland, and England. It provides shops, offices, and residential units to small and institutional stock investors, tenants, and renters. The company was formerly known as Investea German High Street II A/S and changed its name to German High Street Properties A/S in April 2010. The company was incorporated in 2007 and is based in Charlottenlund, Denmark.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

German High Street Properties A/S Class B reported revenue of €5.0M in FY2025 versus €5.7M in FY2021, a compound −3.2%/yr. Reported net income was −€5.9M in FY2025.

Growth Quality 29/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
5.0M DKK
Latest YoY
+5.8%
Avg. revenue growth/yr (3Y) 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.
+2.1%
Avg. revenue growth/yr (5Y) 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.
−3.5%
Avg. revenue growth/yr (18Y) 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.
+13.0%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −3.2%/yr
FY21 €5.7M
FY22 €4.7M
FY23 €4.5M
FY24 €4.7M
FY25 €5.0M
Net income
FY21 €3.4M
FY22 −€2.4M
FY23 −€3.5M
FY24 −€497K
FY25 −€5.9M

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Cite: Fair Value Calculator (2026). "German High Street Properties A/S Class B Fair Value". https://www.fairvalue-calculator.com/stock/GERHSP

Peer Group

Real Estate Services · 546 stocks

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.

Quality Score 51 · Below median
Fair Value upside +10% · Above median
Return on assets 1% · Below median
Net margin (TTM) -130% · Bottom 25%
Operating margin (TTM) 26% · Above median
Revenue growth 5% · Above median
Debt / equity 0.52× · Higher than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/B 0.70× · Pricier than median
P/S (TTM) 7.87× · Pricier than 75% of peers
P/FCF 27.5× · Pricier than 75% of peers
PEG 3.46× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE47 · sector 31
FUTURE26 · sector 10
PAST0 · sector 16
HEALTH74 · sector 84
DIVIDEND0 · sector 64

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 (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
CBRE Group CBRE $147.40 $69.47 -53%
Vonovia SE VNA €19.85 €36.67 +85%
Cellnex Telecom, S.A CLNX €27.47 €25.46 -7%
KE Holdings BEKE $17.42 $6.57 -62%
Jones Lang LaSalle Incorporated JLL $386.08 $290.25 -25%
Swire Properties Limited 1972 HK$24.84 HK$5.12 -79%
CoStar Group CSGP $32.22 $4.64 -86%
China Resources Mixc Lifestyle Services Limited 1209 HK$39.84 HK$34.95 -12%
CapitaLand Investment Limited 9CI 2.73 SGD 0.4900 SGD -82%
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%

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Frequently asked questions

Is German High Street Properties A/S Class B (GERHSP) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 73.42 versus a price of kr 66.50, about +10% (undervalued).
What is the fair value of GERHSP?
Our model-based fair value for German High Street Properties A/S Class B is kr 73.42 (as of Aug 13, 2026), built from audited fundamentals. The current price: kr 66.50.
What is the quality score of GERHSP?
German High Street Properties A/S Class B has a Quality Score of 52/100. 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 revenue of German High Street Properties A/S Class B (GERHSP)?
German High Street Properties A/S Class B reported trailing-twelve-month revenue of about 5.0M DKK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of GERHSP?
The net profit margin of German High Street Properties A/S Class B is about -118.4%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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