Waypoint REIT (WPR) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Waypoint REIT stock A$1.60, price A$2.33, that is 31.3% below the price, quality 68 out of 100. Rating: overvalued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range A$1.65 – A$2.61 · fair‑value band A$1.36 – A$2.34 · the A$2.33 price screens above the A$1.60 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. As of Nov 6, 2026.
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Waypoint REIT is Australia's largest listed REIT owning solely fuel and convenience (F&C) retail properties. It has a high-quality portfolio of 395 assets across Australia as at 31 December 2025.
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Waypoint REIT's objective is to maximize the long-term returns from the portfolio for the benefit of all securityholders. Waypoint REIT was incorporated in June 14th 2016 in Australia.
Stock analysis
Waypoint REIT (WPR) currently trades at A$2.33, while our model-based Fair Value estimate is A$1.60, 31% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of A$2.75 per share, and 4 of the 15 models we run sit above the A$2.33 price.
Bear case: the DCF Models group reads lowest at A$1.24, and 11 of the 15 models stay below the price. Data coverage for this calculation is high.
Scenario range: A$1.36 (bear) to A$2.34 (bull), the price of A$2.33 sits inside 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 68/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Waypoint REIT reported revenue of A$164M in FY2025 versus A$178M in FY2021, a compound −2.1%/yr. Reported net income was A$200M in FY2025, compounding +18.0%/yr from FY2021.
Key figures
Market cap A$1.5B (≈ $1.0B) Small · P/E ratio 12.3 · P/S ratio 15.0 · EPS (TTM) A$0.1900 · Dividend yield 7.3% · Net margin 122% · Return on equity 6.8% · Return on assets (EBIT) 7.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −24% fair-value upside, at −31%, WPR screens richer than that median.
Fair Value models
BearA$1.36Fair Value A$1.60BullA$2.34
Price A$2.33 · Downside -31.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (A$0.0180 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.Coverage ⓘCoverage = 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 is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−0.8%
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.
−1.0%
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.
−2.1%
Start year 2020 (pandemic)
Revenue growth 9 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.
+11.5%
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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. Basis: EBIT basis.
≈ −5.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−12.4%
Dividend (yield on the price)7.3%
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.17.8% vs 69.9%, slowing
Profit margin 2020 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.174% → 90%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 57% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+13.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (Australia: IMF forecast 3.0% a year to 2030, 2.9% from 2016 to 2025) that is about +10.1% a year for the price and −0.5% for the forecasts.
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.REIT - Specialty · 29 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside−31.3% · Below median
Profitability
Return on equity (12 months)6.8% · Below median
Return on assets7.0% · Top 25%
Net margin (12 months)160.8% · Top 25%
Operating margin (12 months)94.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−46.9% · Bottom 25%
Dividend yield (12 months)7.3% · Top 25%
Balance sheet
Debt / equity0.49× · Below median
Valuation Multiplesvs REIT - Specialty median · lower = cheaper
P/E (12 months)12.3× · Cheaper than median
P/B0.80× · Cheaper than median
P/S (12 months)19.03× · Priciest 25%
Price / free cash flow (fiscal year)13.7× · Cheaper than median
EV/EBITDA9.8× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 9
FUTURE (revenue growth)0· sector 16
PAST (return on equity)27· sector 32
HEALTH (low debt)75· sector 74
DIVIDEND (yield)100· sector 100
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Waypoint REIT Fair Value". https://www.fairvalue-calculator.com/stock/WPR
Frequently asked questions
Is Waypoint REIT (WPR) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of A$1.60 versus a price of A$2.33, about 31% lower (overvalued).
What is the fair value of WPR?
Our model-based fair value for Waypoint REIT is A$1.60 (as of Nov 6, 2026), built from audited fundamentals. The current price: A$2.33.
What is the quality score of WPR?
Waypoint REIT has a Quality Score of 68/100. 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 Waypoint REIT (WPR)?
Our model-based price target is the fair value of A$1.60 (as of Nov 6, 2026) from 15 valuation models. Cautious scenario A$1.36, optimistic scenario A$2.34. It is a calculation from audited fundamentals, not an analyst target.
What is the Waypoint REIT stock forecast for 2026?
Our models put fair value at A$1.60, about 31% lower versus a price of A$2.33 (overvalued). Cautious scenario A$1.36, optimistic scenario A$2.34. The calculation is refreshed regularly with new filings.
What is the revenue of Waypoint REIT (WPR)?
Waypoint REIT reported trailing-twelve-month revenue of about A$80.1M (latest available figure, as of Nov 6, 2026).
Does Waypoint REIT pay a dividend?
Waypoint REIT currently shows a dividend yield of 7.25% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Waypoint REIT (WPR) and when is the ex-dividend date?
Waypoint REIT pays a dividend of A$0.169 per share a year, a dividend yield of 7.3%. The last ex-dividend date was Sep 29, 2026. A dividend has been paid every year since at least 2017. The payout ratio is 164% of earnings (on adjusted earnings, reported 88.9%). Free cash flow covers the dividend 1.01 times. Our assessment: Payout strained. The dividend exceeds reported earnings (though reported profit is often depressed by one-off charges), and free cash flow only just covers it (or coverage is unknown). Not an emergency, but little room for error.
What growth is priced into Waypoint REIT (WPR)?
For today's price to be fair in a discounted-cash-flow model, Waypoint REIT would have to grow free cash flow by +13.3 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.1 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of WPR use?
Our models discount Waypoint REIT at 10.5 %: a base by market capitalisation (small), damped by beta 0.82, country premium for Australia. 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 Waypoint REIT that is +13.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Waypoint REIT (WPR) delivered so far?
Over the past 5 years revenue at Waypoint REIT grew -2.1 % a year. The price currently implies free-cash-flow growth of +13.3 % per 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 Waypoint REIT (WPR) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Waypoint REIT (+13.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Waypoint REIT (WPR)?
The free-cash-flow yield on the price is 7.29 %: that much free cash flow Waypoint REIT produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Waypoint REIT (WPR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Waypoint REIT it is A$1.60 per share (as of Nov 6, 2026), against a price of A$2.33. It is the blended result of 15 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Waypoint REIT stock overvalued or undervalued in 2026?
As of Nov 6, 2026, WPR trades above its calculated fair value: price A$2.33, fair value A$1.60, a gap of about −31% (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 WPR?
No. The price is what the market pays today (A$2.33); the fair value is what the company's own numbers justify (A$1.60). For Waypoint REIT the two are A$0.7300 per share apart. That gap is exactly why we show both numbers side by side.
How much is Waypoint REIT worth?
The market values Waypoint REIT at about A$1.5B (market capitalisation, as of Nov 6, 2026). Per share that is A$2.33; our models calculate a fair value of A$1.60 per share.
What do the bullish and bearish scenarios say about WPR?
Our models span a range for Waypoint REIT: cautious scenario A$1.36, base A$1.60, optimistic A$2.34 per share (as of Nov 6, 2026, price A$2.33). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WPR?
Waypoint REIT trades at a price-to-earnings ratio of 12.3 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$1.60 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 14.0 (reported for FY2025: 7.6). Other multiples: P/B 0.8, P/S 19.0, EV/EBITDA 9.8.
How solid is the balance sheet of Waypoint REIT (WPR)?
Balance-sheet figures for Waypoint REIT (as of Nov 6, 2026): return on equity 6.8%, debt of 0.49 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is WPR from its 52-week high?
Waypoint REIT trades at A$2.33, about 9% below its 52-week high of A$2.57 and 15% above the low of A$2.02 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of A$1.60 is for.
Which stocks are comparable to Waypoint REIT?
From the same area (Real Estate) we also value Equinix, Inc, American Tower Corporation, Digital Realty Trust, Inc, Crown Castle Inc, 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 Waypoint REIT stock attractive at the current price?
The data as of Nov 6, 2026: price A$2.33, calculated fair value A$1.60 (−31%), Quality Score 68/100, from 15 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 WPR calculated?
We run Waypoint REIT through 15 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of A$1.60 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Waypoint REIT 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 Waypoint REIT (WPR)?
The closing price on Nov 6, 2026 was A$2.33. Our model-based fair value is A$1.60, about 31% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Waypoint REIT right now?
Solid but not exceptional quality (68/100) 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.
Key figures of Waypoint REIT
How large is the market capitalisation of Waypoint REIT (WPR)?
The market capitalisation of Waypoint REIT is A$1.5B (≈ $1.0B). 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 Waypoint REIT (WPR)?
The price-to-sales ratio of Waypoint REIT is 15.0 (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 Waypoint REIT (WPR)?
Earnings per share at Waypoint REIT are A$0.1900 (price ÷ EPS = P/E 12.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Waypoint REIT (WPR)?
The dividend yield of Waypoint REIT is 7.3% (payout 164%, on adjusted earnings, reported 88.9%). 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 Waypoint REIT (WPR)?
The net margin of Waypoint REIT is 122% (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 Waypoint REIT (WPR)?
The return on equity (ROE) of Waypoint REIT is 6.8% (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 Waypoint REIT (WPR)?
On an EBIT basis the return on assets of Waypoint REIT 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 Waypoint REIT (WPR)?
The operating margin of Waypoint REIT is 94.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Waypoint REIT (WPR)?
Revenue at Waypoint REIT is growing −46.9% versus a year earlier (3y avg −1.0%). 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 Waypoint REIT (WPR)?
Earnings per share at Waypoint REIT are growing −50.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Waypoint REIT (WPR) carry?
The net debt of Waypoint REIT is A$918M (fiscal year 2025, ≈ 8.3 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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Broad data
Nov 6, 2026