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The Property Franchise Group (TPFG) Fair Value & Analysis

Real Estate · GB · Market cap 301M GBX

TP The Property Franchise Group TPFG · LSE
Price£4.73
Fair Value£5.08
Upside+7.5%
Quality64/100
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Healthy Growth
Highly profitable · 22.6% net margin
Low debt · generates free cash flow
4.66% dividend yield
Ranks above peers (10/14)
Wide moat 72/100
Evidence: High Range £3.81 – £6.36 Share as image

Fair value as of: Jul 12, 2026

From 16 valuation models · updated 29 days ago

Share price −5.8% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • 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)

£6.13 £1.92 Fair Value £5.08 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range £1.92 – £6.13 · fair‑value band £3.81 – £6.36 · the £4.73 price screens below the £5.08 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

The Property Franchise Group (TPFG) currently trades at £4.73, while our model-based Fair Value estimate is £5.08, implying the stock looks roughly 7.5% fairly valued today. The Quality Score stands at 64/100 (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: high), always confirm before acting.

Over the trailing twelve months, The Property Franchise Group generated revenue of £84.3M at a net margin of 22.6%. Revenue grew 8.6% year over year. It earns a return on equity of 12.8%. Net debt stands at £5.9M. Fundamentals as of Jul 12, 2026

Our scenario range runs from £3.81 (bear case) to £6.36 (bull case); at £4.73, 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. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at 8%, TPFG 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
Growth DCF £4.52 £7.46 £12.86 80
Residual Income £2.15 £2.41 £3.55 76
Rev-Margin DCF £4.39 £8.05 £15.31 74
All 16 models by family
DCF Models
FCF DCF £4.82 £7.00 £13.54 38
5Y Revenue Exit £4.16 £7.04 £13.07 39
5Y EBITDA Exit £5.84 £10.43 £19.46 41
10Y Revenue Exit £4.27 £8.95 £11.83 36
10Y EBITDA Exit £5.52 £12.24 £23.98 37
Dividend Discount
Gordon GGM £1.46 £2.64 £3.63 70
DDM Multi-Stage £1.46 £2.41 £2.82 61
Multiples
P/S Multiple £3.81 £5.08 £6.35 58
P/B Multiple £3.65 £4.86 £6.08 55
EV/EBIT £6.36 £8.45 £10.55 53
EV/EBITDA £6.21 £8.26 £10.31 54
EV/Revenue £3.53 £5.02 £6.51 43
Asset-Based
NCAV (Graham) £1.22 £1.63 £2.43 50
Growth DCF
Growth DCF £4.52 £7.46 £12.86 80
Rev-Margin DCF £4.39 £8.05 £15.31 74
Economic Profit
Residual Income £2.15 £2.41 £3.55 76

Widest divergence: DCF Models (£8.95) versus Asset-Based (£1.63). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 84.3M GBX
Revenue growth (YoY) +8.6%
Net margin 22.6%
Return on equity 12.8%
Free cash flow 22.3M GBX FY2025
P/E ratio 16.3
More key figures
Operating margin 28.7%
EPS (TTM) £0.3000
Dividend yield 4.6%
EPS growth (YoY) +48.5%
Net debt 5.9M GBX FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 64 · Market factors (momentum, volatility) 46

Profitability 52
Margins and returns on capital today
Quality Growth 76
Are margins and returns improving?
Cashflow 84
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 40
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.

About the company

The Property Franchise Group PLC engages in residential property franchise, and licensing and financial services businesses in the United Kingdom. It operates through three segments: Property Franchising, Financial Services, and Licensing.

Full company description

The Property Franchise Group PLC engages in residential property franchise, and licensing and financial services businesses in the United Kingdom. It operates through three segments: Property Franchising, Financial Services, and Licensing. The company is involved in sale of franchise and licensed territories; support of franchisees and licensees in supplying residential lettings; provision of sales and property management services, as well as financial services; and operates as property franchisor. It offers its services under the Belvoir, CJ Hole, Clarke and Partners, Country Properties, Ellis & Co, EweMove, Fine & Country, Hunters, Hunters Personal, Lovelle, Martin & Co, Mullucks, Newton Fallowell, Nicholas Humphreys, Northwood, Parkers, The Guild, and Whitegates brands. The company serves landlords, tenants, buyers, and sellers. The company was formerly known as MartinCo PLC and changed its name to The Property Franchise Group PLC in March 2017. The Property Franchise Group PLC was founded in 1986 and is headquartered in Bournemouth, the United Kingdom.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

The Property Franchise Group reported revenue of £84.3M in FY2025 versus £24.0M in FY2021, a compound +36.8%/yr. Reported net income was £19.0M in FY2025, compounding +53.1%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
£84.3M
Latest YoY
+25.2%
Avg. 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.
+45.9%
Avg. 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.
+50.2%
Avg. growth/yr (13Y) 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.
+27.2%
Revenue +36.8%/yr
FY21 £24.0M
FY22 £27.2M
FY23 £27.3M
FY24 £67.3M
FY25 £84.3M
Net income +53.1%/yr
FY21 £3.5M
FY22 £7.2M
FY23 £7.4M
FY24 £10.2M
FY25 £19.0M
Character of growth · EPS growth decomposed (2014-2025) +10.0 % p.a.
Revenue per share +15.7 pp

of which total revenue +27.1 pp · buybacks/dilution −11.4 pp

EBIT margin −4.4 pp
Tax rate −1.2 pp
Residual (interest, one-offs) −0.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "The Property Franchise Group Fair Value". https://www.fairvalue-calculator.com/stock/TPFG

Peer Group

Real Estate Services · 520 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 63 · Top 25%
Fair Value upside +8% · Above median
Return on equity (TTM) 13% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 23% · Above median
Operating margin (TTM) 29% · Above median
Revenue growth 9% · Above median
Dividend yield (TTM) 4.7% · Above median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 15.8× · Pricier than median
P/B 2.62× · Pricier than 75% of peers
P/S (TTM) 4.82× · Pricier than median
P/FCF 18.2× · Pricier than 75% of peers
EV/EBITDA 13.5× · Cheaper than median

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.

VALUE 43 · sector 37
FUTURE 43 · sector 10
PAST 51 · sector 16
HEALTH 98 · sector 85
DIVIDEND 93 · sector 49

Insider activity: 45/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

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Frequently asked questions

Is The Property Franchise Group (TPFG) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of £5.08 versus a price of £4.73, about +8% (fairly valued).
What is the fair value of TPFG?
Our model-based fair value for The Property Franchise Group is £5.08 (as of Jul 12, 2026), built from audited fundamentals. The current price is £4.73.
What is the quality score of TPFG?
The Property Franchise Group has a Quality Score of 64/100. 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 The Property Franchise Group (TPFG)?
The Property Franchise Group reported trailing-twelve-month revenue of about £84.3M (latest available figure, as of Jul 12, 2026).
What is the net profit margin of TPFG?
The net profit margin of The Property Franchise Group is about 22.6%, meaning it keeps roughly 22.6% of revenue as net income. Based on the latest reported figures.
Does The Property Franchise Group pay a dividend?
The Property Franchise Group currently shows a dividend yield of about 4.56% relative to its recent price (as of Jul 12, 2026).

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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