Prime Office A/S (PRIMOF) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Prime Office A/S DKK 203, price DKK 238, upside -14.7%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 24, 2026.
How to read this chart
60‑month range kr 154.74 – kr 317.41 · fair‑value band kr 152.21 – kr 202.95 · the kr 238.00 price screens above the kr 202.95 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Prime Office A/S operates as a real estate company. It primarily invests in centrally located office buildings in Germany. Prime Office A/S is based in Aarhus, Denmark.
Stock analysis
Prime Office A/S (PRIMOF) currently trades at kr 238.00, while our model-based Fair Value estimate is kr 202.95, implying the stock looks roughly 17.3% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of kr 232.43 per share, and 0 of the 7 models we run sit above the kr 238.00 price.
Bear case: the Dividend Discount group reads lowest at kr 33.25, and 7 of the 7 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 152.21 (bear) to kr 202.95 (bull), the price of kr 238.00 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 57/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Prime Office A/S reported revenue of 204M DKK in FY2025 versus 183M DKK in FY2021, a compound +2.8%/yr. Reported net income was 45.1M DKK in FY2025, compounding −26.4%/yr from FY2021.
Key figures
Market cap 898M DKK (≈ $137M) · P/E ratio 19.7 · P/S ratio 4.35 · EPS (TTM) kr 12.06 · Dividend yield 1.3% · Net margin 22.1% · Return on equity 3.6% · Return on assets (EBIT) 4.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 31% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −16% fair-value upside, at −15%, PRIMOF screens cheaper than that median.
Fair Value models
Bear kr 152.21Fair Value kr 202.95Bull kr 202.95
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 6.70 per share) are deliberately not added.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.68/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+1.2%
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.
+2.7%
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.
+2.6%
Start year 2020 (pandemic). Over 10 years: +11.2% a year
Revenue growth 17 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.
+20.7%
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What shareholders gained per year (last 5 years) ⓘ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.
−19.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−21.0%
Dividend (yield on the price)1.3%
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.−21.0% vs −3.9%, slowing
Profit margin 2019 to 2025 ⓘ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.139% → 56%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+38.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Denmark: IMF forecast 2.1% a year to 2030, 2.0% from 2016 to 2025) that is about +35.9% a year for the price.
Price, fair value, quality and upside side by side.
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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 - Development · 578 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score57 · Top 25%
Fair Value upside−14.7% · Below median
Profitability
Return on equity (TTM)3.6% · Above median
Return on assets1.6% · Above median
Net margin (TTM)22.5% · Top 25%
Operating margin (TTM)53.8% · Top 25%
Growth and dividend
Revenue growth−2.6% · Below median
Dividend yield (TTM)1.3% · Below median
Balance sheet
Debt / equity1.75× · Highest 25%
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
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Is Prime Office A/S (PRIMOF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 202.95 versus a price of kr 238.00, about −15% upside (overvalued).
What is the fair value of PRIMOF?
Our model-based fair value for Prime Office A/S is kr 202.95 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 238.00.
What is the quality score of PRIMOF?
Prime Office A/S has a Quality Score of 57/100. 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 Prime Office A/S (PRIMOF)?
Our model-based price target is the fair value of kr 202.95 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario kr 152.21, optimistic scenario kr 202.95. It is a calculation from audited fundamentals, not an analyst target.
What is the Prime Office A/S stock forecast for 2026?
Our models put fair value at kr 202.95, about −15% upside versus a price of kr 238.00 (overvalued). Cautious scenario kr 152.21, optimistic scenario kr 202.95. The calculation is refreshed regularly with new filings.
What is the revenue of Prime Office A/S (PRIMOF)?
Prime Office A/S reported trailing-twelve-month revenue of about 203M DKK (latest available figure, as of Sep 24, 2026).
Does Prime Office A/S pay a dividend?
Prime Office A/S currently shows a dividend yield of about 1.26% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Prime Office A/S (PRIMOF)?
For today's price to be fair in a discounted-cash-flow model, Prime Office A/S would have to grow free cash flow by +38.7 % per year for five years (discount rate 12.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of PRIMOF use?
Our models discount Prime Office A/S at 12.5 %: a base by market capitalisation (micro), country premium for Denmark. 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 Prime Office A/S that is +38.7 % per year a year over ten years, using the same discount rate (12.5 %) and the same formula as our fair value.
How much growth has Prime Office A/S (PRIMOF) delivered so far?
Over the past 5 years revenue at Prime Office A/S grew +2.7 % a year. The price currently implies +38.7 % 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 Prime Office A/S (PRIMOF) growing?
The median revenue growth in the sector is +1.7 % a year. That is the yardstick for the growth priced into Prime Office A/S (+38.7 % 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 Prime Office A/S (PRIMOF)?
The free-cash-flow yield on the price is 5.68 %: that much free cash flow Prime Office A/S produces per unit of market value. When it exceeds the discount rate of our models (12.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Prime Office A/S (PRIMOF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Prime Office A/S it is kr 202.95 per share (as of Sep 24, 2026), against a price of kr 238.00. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Prime Office A/S stock overvalued or undervalued in 2026?
As of Sep 24, 2026, PRIMOF trades above its calculated fair value: price kr 238.00, fair value kr 202.95, a gap of about −15% (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 PRIMOF?
No. The price is what the market pays today (kr 238.00); the fair value is what the company's own numbers justify (kr 202.95). For Prime Office A/S the two are kr 35.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Prime Office A/S worth?
The market values Prime Office A/S at about 898M DKK (market capitalisation, as of Sep 24, 2026). Per share that is kr 238.00; our models calculate a fair value of kr 202.95 per share.
What do the bullish and bearish scenarios say about PRIMOF?
Our models span a range for Prime Office A/S: cautious scenario kr 152.21, base kr 202.95, optimistic kr 202.95 per share (as of Sep 24, 2026, price kr 238.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PRIMOF?
Prime Office A/S trades at a price-to-earnings ratio of 19.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 202.95 is built from several models across several years. Other multiples: P/B 0.7, P/S 4.4, EV/EBITDA 25.0.
How solid is the balance sheet of Prime Office A/S (PRIMOF)?
Balance-sheet figures for Prime Office A/S (as of Sep 24, 2026): return on equity 3.6%, debt of 1.75 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is PRIMOF from its 52-week high?
Prime Office A/S trades at kr 238.00, about 6% below its 52-week high of kr 254.00 and 31% above the low of kr 181.35 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of kr 202.95 is for.
Which stocks are comparable to Prime Office A/S?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, CK Asset Holdings, Hongkong Land Holdings, DLF 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 Prime Office A/S stock attractive at the current price?
The data as of Sep 24, 2026: price kr 238.00, calculated fair value kr 202.95 (−15%), Quality Score 57/100, from 14 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 PRIMOF calculated?
We run Prime Office A/S through 14 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 kr 202.95, 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 13.9 % above its aggregate fair value. Prime Office A/S 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 Prime Office A/S (PRIMOF)?
The closing price on Sep 25, 2026 was kr 238.00. Our model-based fair value is kr 202.95, about −15% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Prime Office A/S right now?
The price sits above even our optimistic bull case (kr 202.95). The favourable scenario is already priced in. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Prime Office A/S (PRIMOF) come from?
Earnings per share at Prime Office A/S grew −6.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.8 %, EBIT margin −1.2 %, tax rate −1.2 %, residual (interest, one-offs) −10.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Prime Office A/S
How large is the market capitalisation of Prime Office A/S (PRIMOF)?
The market capitalisation of Prime Office A/S is 898M DKK (≈ $137M). 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 Prime Office A/S (PRIMOF)?
The price-to-sales ratio of Prime Office A/S is 4.35 (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 Prime Office A/S (PRIMOF)?
Earnings per share at Prime Office A/S are kr 12.06 (price ÷ EPS = P/E 19.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Prime Office A/S (PRIMOF)?
The dividend yield of Prime Office A/S is 1.3% (payout 24.9%). 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 Prime Office A/S (PRIMOF)?
The net margin of Prime Office A/S is 22.1% (fiscal year 2025). 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 Prime Office A/S (PRIMOF)?
The return on equity (ROE) of Prime Office A/S is 3.6% (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 Prime Office A/S (PRIMOF)?
On an EBIT basis the return on assets of Prime Office A/S is 4.4% (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 Prime Office A/S (PRIMOF)?
The operating margin of Prime Office A/S is 53.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Prime Office A/S (PRIMOF)?
Revenue at Prime Office A/S is growing −2.6% versus a year earlier (3y avg +2.7%). 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 Prime Office A/S (PRIMOF)?
Earnings per share at Prime Office A/S are growing +20.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Prime Office A/S (PRIMOF) carry?
The net debt of Prime Office A/S is 2.2B DKK (fiscal year 2025, ≈ 43.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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