Leopalace21 Corporation (MQI) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Leopalace21 Corporation €8.72, price €5.60, upside +55.7%, quality 73 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
In Frankfurt, only 2 of the last 21 trading days (30 days) had any turnover. On the other days the price is an indicative quote without trading, so we do not list this stock in the radar. It stays reachable through search.
LCBroad dataSep 30, 2026
Leopalace21 Corporation
MQI · F
Clearly undervaluedStrong Fair Value upside, but quality is only moderate.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 30, 2026.
How to read this chart
60‑month range €1.05 – €5.80 · fair‑value band €6.25 – €11.19 · the €5.60 price screens below the €8.72 fair value. Dashed = 300-day average. As of Sep 30, 2026.
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Leopalace21 Corporation, together with its subsidiaries, engages in the construction, leasing, and sale of apartments, condominiums, and residential housing in Japan. It operates in three segments: Rental Business, Senior Care Business, and Other Businesses.
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Leopalace21 Corporation, together with its subsidiaries, engages in the construction, leasing, and sale of apartments, condominiums, and residential housing in Japan. It operates in three segments: Rental Business, Senior Care Business, and Other Businesses. The Rental Business segment is involved in the leasing and management of apartment rooms buildings and other properties; maintenance work; a solar power generation business; and real estate brokerage activities. This segment also provides broadband and company housing agency services, as well as small-amount short-term insurance. The Senior Care Business segment operates nursing care facilities. The Other Businesses segment operates resort facilities in Guam, which include golf courses, a hotel, and other facilities. The company was formerly known as MDI Corporation and changed its name to Leopalace21 Corporation in July 2000. Leopalace21 Corporation was incorporated in 1973 and is headquartered in Tokyo, Japan.
Stock analysis
Leopalace21 Corporation (MQI) currently trades at €5.60, while our model-based Fair Value estimate is €8.72, implying the stock looks roughly 35.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €9.09 per share, and 10 of the 16 models we run sit above the €5.60 price.
Bear case: the Economic Profit group reads lowest at €1.55, and 6 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: €6.25 (bear) to €11.19 (bull), the price of €5.60 sits below 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 73/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Leopalace21 Corporation reported revenue of ¥445B in FY2026 versus ¥398B in FY2022, a compound +2.8%/yr. Reported net income was ¥14.9B in FY2026, compounding +5.9%/yr from FY2022.
Key figures
Market cap €1.8B · P/E ratio 24.3 · P/S ratio 0.82 · EPS (TTM) €0.2300 · Dividend yield 1.0% · Net margin 3.4% · Return on equity 28.5% · Return on assets (EBIT) 10.5%.
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 3% below its 52-week high and 77% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at 56%, MQI screens cheaper than that median.
Fair Value models
Bear €6.25Fair Value €8.72Bull €11.19
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.
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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+3.0%
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.
+3.1%
Revenue growth 5 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.
+1.7%
Start year 2021 (pandemic). Over 10 years: −1.4% a year
Revenue growth 12 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.
−0.5%
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What shareholders gained per year (last 5 years), in JPY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in JPY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+6.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.5%
Dividend (yield on the price)1.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5.5% vs −4.9%, picking up
Profit margin 2021 to 2026 ⓘ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.−7% → 8%
Start year 2021 (pandemic)
⚠ Revenue per share shrinking 5.8%/yr over ~7Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−10.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about −12.1% a year for the price.
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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 · 520 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside+54.3% · Above median
Profitability
Return on equity (TTM)28.5% · Top 25%
Return on assets10.9% · Top 25%
Net margin (TTM)4.8% · Below median
Operating margin (TTM)10.5% · Below median
Growth and dividend
Revenue growth3.7% · Above median
Dividend yield (TTM)1.0% · Bottom 25%
Balance sheet
Debt / equity0.74× · Above median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Leopalace21 Corporation Fair Value". https://www.fairvalue-calculator.com/stock/MQI
Frequently asked questions
Is Leopalace21 Corporation (MQI) overvalued or undervalued?
As of Sep 30, 2026, our model estimates a fair value of €8.72 versus a price of €5.60, about +56% upside (undervalued).
What is the fair value of MQI?
Our model-based fair value for Leopalace21 Corporation is €8.72 (as of Sep 30, 2026), built from audited fundamentals. The current price: €5.60.
What is the quality score of MQI?
Leopalace21 Corporation has a Quality Score of 73/100. 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 Leopalace21 Corporation (MQI)?
Our model-based price target is the fair value of €8.72 (as of Sep 30, 2026) from 16 valuation models. Cautious scenario €6.25, optimistic scenario €11.19. It is a calculation from audited fundamentals, not an analyst target.
What is the Leopalace21 Corporation stock forecast for 2026?
Our models put fair value at €8.72, about +56% upside versus a price of €5.60 (undervalued). Cautious scenario €6.25, optimistic scenario €11.19. The calculation is refreshed regularly with new filings.
What is the revenue of Leopalace21 Corporation (MQI)?
Leopalace21 Corporation reported trailing-twelve-month revenue of about ¥449B (latest available figure, as of Sep 30, 2026).
Does Leopalace21 Corporation pay a dividend?
Leopalace21 Corporation currently shows a dividend yield of about 0.97% relative to its recent price (as of Sep 30, 2026).
What growth is priced into Leopalace21 Corporation (MQI)?
For today's price to be fair in a discounted-cash-flow model, Leopalace21 Corporation would have to grow free cash flow by -10.3 % per year for five years (discount rate 8.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.7 % per year. As of Sep 30, 2026.
What discount rate (WACC) does the fair value of MQI use?
Our models discount Leopalace21 Corporation at 8.6 %: a base by market capitalisation (mid), damped by beta 0.60, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Leopalace21 Corporation that is -10.3 % per year a year over ten years, using the same discount rate (8.6 %) and the same formula as our fair value.
How much growth has Leopalace21 Corporation (MQI) delivered so far?
Over the past 5 years revenue at Leopalace21 Corporation grew +1.7 % a year. The price currently implies -10.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Leopalace21 Corporation (MQI) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Leopalace21 Corporation (-10.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Leopalace21 Corporation (MQI)?
The free-cash-flow yield on the price is 11.88 %: that much free cash flow Leopalace21 Corporation produces per unit of market value. When it exceeds the discount rate of our models (8.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Leopalace21 Corporation (MQI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Leopalace21 Corporation it is €8.72 per share (as of Sep 30, 2026), against a price of €5.60. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Leopalace21 Corporation stock overvalued or undervalued in 2026?
As of Sep 30, 2026, MQI trades below its calculated fair value: price €5.60, fair value €8.72, a gap of about +56% (undervalued). 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 MQI?
No. The price is what the market pays today (€5.60); the fair value is what the company's own numbers justify (€8.72). For Leopalace21 Corporation the two are €3.12 per share apart. That gap is exactly why we show both numbers side by side.
How much is Leopalace21 Corporation worth?
The market values Leopalace21 Corporation at about €1.8B (market capitalisation, as of Sep 30, 2026). Per share that is €5.60; our models calculate a fair value of €8.72 per share.
What do the bullish and bearish scenarios say about MQI?
Our models span a range for Leopalace21 Corporation: cautious scenario €6.25, base €8.72, optimistic €11.19 per share (as of Sep 30, 2026, price €5.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MQI?
Leopalace21 Corporation trades at a price-to-earnings ratio of 24.3 (as of Sep 30, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €8.72 is built from several models across several years. Other multiples: P/B 7.8, P/S 0.7, EV/EBITDA 7.5.
How solid is the balance sheet of Leopalace21 Corporation (MQI)?
Balance-sheet figures for Leopalace21 Corporation (as of Sep 30, 2026): return on equity 28.5%, debt of 0.74 per unit of equity. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is MQI from its 52-week high?
Leopalace21 Corporation trades at €5.60, about 3% below its 52-week high of €5.80 and 77% above the low of €3.16 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of €8.72 is for.
Which stocks are comparable to Leopalace21 Corporation?
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 Leopalace21 Corporation stock attractive at the current price?
The data as of Sep 30, 2026: price €5.60, calculated fair value €8.72 (+56%), Quality Score 73/100, 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 MQI calculated?
We run Leopalace21 Corporation 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 €8.72, 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. Leopalace21 Corporation currently trades 36 % below its own fair value, and the market average says nothing about that. 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 Leopalace21 Corporation (MQI)?
The closing price on Oct 1, 2026 was €5.60. Our model-based fair value is €8.72, about +56% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Leopalace21 Corporation right now?
The rarer combination: high quality (73/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (€6.25). The market is more pessimistic than our downside scenario. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Leopalace21 Corporation
How large is the market capitalisation of Leopalace21 Corporation (MQI)?
The market capitalisation of Leopalace21 Corporation is €1.8B. 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 Leopalace21 Corporation (MQI)?
The price-to-sales ratio of Leopalace21 Corporation is 0.82 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Leopalace21 Corporation (MQI)?
Earnings per share at Leopalace21 Corporation are €0.2300 (price ÷ EPS = P/E 24.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Leopalace21 Corporation (MQI)?
The dividend yield of Leopalace21 Corporation is 1.0% (payout 23.6%). 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 Leopalace21 Corporation (MQI)?
The net margin of Leopalace21 Corporation is 3.4% (fiscal year 2026). 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 Leopalace21 Corporation (MQI)?
The return on equity (ROE) of Leopalace21 Corporation is 28.5% (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 Leopalace21 Corporation (MQI)?
On an EBIT basis the return on assets of Leopalace21 Corporation is 10.5% (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 Leopalace21 Corporation (MQI)?
The operating margin of Leopalace21 Corporation is 10.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Leopalace21 Corporation (MQI)?
Revenue at Leopalace21 Corporation is growing +3.7% versus a year earlier (3y avg +3.1%). 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 Leopalace21 Corporation (MQI)?
Earnings per share at Leopalace21 Corporation are growing +17.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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