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Zoned Properties, Inc (ZDPY) Fair Value & Analysis

Real Estate · US · Market cap $6.2M

ZP Zoned Properties, Inc logo Zoned Properties, Inc ZDPY · US
Price$0.4510
Fair Value$1.17
Upside+159.4%
Quality48/100
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Mixed Growth
Loss-making · -70.5% net margin
High debt · generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 19/100
Evidence: Medium Range $0.7370 – $1.60 Share as image

Fair value as of: Jul 27, 2026

From 11 valuation models · updated 14 days ago

Fair value updated Jul 27, 2026, revised from $1.14 to $1.17 (+2.6%) since Jun 26, 2026. Share price −0.9% over the past month.

Below-average quality, screening 159% undervalued on our models.

What matters now

  • The price is below even our cautious bear case ($0.7370). The market is more pessimistic than our downside scenario.
  • Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range ($0.7370 to $1.60) leaves room in how you read the outcome.
  • 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)

$0.9499 $0.2700 Fair Value $1.17 Sep 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 27, 2026.

How to read this chart

60‑month range $0.2700 – $0.9499 · fair‑value band $0.7370 – $1.60 · the $0.4510 price screens below the $1.17 fair value. Dashed = 300-day average. As of Jul 27, 2026.

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Analysis

Zoned Properties, Inc (ZDPY) currently trades at $0.4510, while our model-based Fair Value estimate is $1.17, implying the stock looks roughly 159.4% undervalued today. The Quality Score stands at 48/100 (below-average 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: medium), always confirm before acting.

Over the trailing twelve months, Zoned Properties, Inc generated revenue of $4.3M at a net margin of -70.5%. Revenue grew 20.3% year over year. It earns a return on equity of -64.9%. Net debt stands at $8.7M. Fundamentals as of Jul 27, 2026

Our scenario range runs from $0.7370 (bear case) to $1.60 (bull case); at $0.4510, the current price sits below 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 21% below its 52-week high and 38% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -2% fair-value upside, at 159%, ZDPY 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 $0.0200 $0.3900 80
Rev-Margin DCF $0.0200 $0.6300 $1.46 74
EV/EBITDA $0.8800 $1.40 $1.91 54
All 11 models by family
DCF Models
FCF DCF $0.0700 $0.5800 38
5Y Revenue Exit $0.0200 $0.6600 $1.56 39
5Y EBITDA Exit $0.3700 $1.42 $2.81 41
10Y Revenue Exit $0.4100 $1.27 36
10Y EBITDA Exit $0.1100 $0.9000 $2.21 37
Multiples
EV/EBIT $0.8800 $1.40 $1.91 53
EV/EBITDA $0.8800 $1.40 $1.91 54
EV/Revenue $0.1900 $0.5600 $0.9200 43
Asset-Based
NCAV (Graham) $0.1200 $0.1600 $0.2300 50
Growth DCF
Growth DCF $0.0200 $0.3900 80
Rev-Margin DCF $0.0200 $0.6300 $1.46 74

Widest divergence: Multiples ($1.40) versus Growth DCF ($0.0200). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $4.3M
Revenue growth (YoY) +20.3%
Net margin -70.5%
Return on equity -64.9%
Free cash flow $579K FY2025
Operating margin 10.8%
More key figures
EPS (TTM) $-0.2500
EPS growth (YoY) +174%
Net debt $8.7M FY2025

Figures from reported company fundamentals · as of Jul 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 46 · Market factors (momentum, volatility) 43

Profitability 13
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 13
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 86
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

Zoned Properties, Inc., a property investment company, focuses on acquiring value-added real estate properties within the regulated cannabis industry in the United States. The company operates through two segments: Property Investment Portfolio and Real Estate Services.

Full company description

Zoned Properties, Inc., a property investment company, focuses on acquiring value-added real estate properties within the regulated cannabis industry in the United States. The company operates through two segments: Property Investment Portfolio and Real Estate Services. The Property Investment Portfolio segment engages in the operations, leasing, and management of leased commercial properties. The Real Estate Services segment provides advisory, brokerage, and technology services related to commercial properties. The company was formerly known as Vanguard Minerals Corporation and changed its name to Zoned Properties Inc. in October 2013. Zoned Properties Inc. was incorporated in 2003 and is headquartered in Scottsdale, Arizona.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zoned Properties, Inc reported revenue of $4.1M in FY2025 versus $1.8M in FY2021, a compound +22.8%/yr. Reported net income was −$2.9M in FY2025.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$4.1M
Latest YoY
+9.2%
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.
+15.9%
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.
+27.8%
Avg. growth/yr (11Y) 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.
+19.8%
Revenue +22.8%/yr
FY21 $1.8M
FY22 $2.7M
FY23 $2.9M
FY24 $3.8M
FY25 $4.1M
Net income
FY21 −$166K
FY22 −$574K
FY23 −$540K
FY24 $574K
FY25 −$2.9M

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Cite: Fair Value Calculator (2026). "Zoned Properties, Inc Fair Value". https://www.fairvalue-calculator.com/stock/ZDPY

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 48 · Below median
Fair Value upside +159% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) -70% · Bottom 25%
Operating margin (TTM) 11% · Below median
Revenue growth 20% · Top 25%
Debt / equity 3.11× · Higher than 75% of peers

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/B 2.02× · Pricier than 75% of peers
P/S (TTM) 1.43× · Cheaper than median
P/FCF 10.7× · Pricier than median
EV/EBITDA 11.7× · 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 100 · sector 37
FUTURE 100 · sector 10
PAST 0 · sector 16
HEALTH 0 · sector 85
DIVIDEND 0 · sector 49

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.

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 27, 2026).

Stock Price Fair Value vs Fair Value
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KE Holdings 2423 HK$44.76 HK$18.03 -60%
Swire Properties Limited 1972 HK$23.90 HK$18.75 -22%
Plaza S.A MALLPLAZA 3,725 CLP 5,571 CLP +50%
SAGAA SAGAA kr 170.00 kr 75.55 -56%
Cencosud Shopping S.A CENCOMALLS 2,324 CLP 2,976 CLP +28%
PT Sarana Menara Nusantara Tbk. owns and TOWR 372.00 IDR 1,208 IDR +225%
PT Metropolitan Kentjana Tbk MKPI 20,975 IDR 19,160 IDR -9%
PT Bangun Kosambi Sukses Tbk, CBDK 3,530 IDR 3,464 IDR -2%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 3,998 ARS +60%

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Frequently asked questions

Is Zoned Properties, Inc (ZDPY) overvalued or undervalued?
As of Jul 27, 2026, our model estimates a fair value of $1.17 versus a price of $0.4510, about +159% (undervalued).
What is the fair value of ZDPY?
Our model-based fair value for Zoned Properties, Inc is $1.17 (as of Jul 27, 2026), built from audited fundamentals. The current price is $0.4510.
What is the quality score of ZDPY?
Zoned Properties, Inc has a Quality Score of 48/100. 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 Zoned Properties, Inc (ZDPY)?
Zoned Properties, Inc reported trailing-twelve-month revenue of about $4.3M (latest available figure, as of Jul 27, 2026).
What is the net profit margin of ZDPY?
The net profit margin of Zoned Properties, Inc is about -70.5%, 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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