Elanor Commercial Property Fund
ASX:ECF

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Elanor Commercial Property Fund
ASX:ECF
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Price: 0.535 AUD -1.83% Market Closed
Market Cap: AU$217.7m

EV/OCF

13.4
Current
4%
Cheaper
vs 3-y average of 14

Enterprise Value to Operating Cash Flow (EV/OCF) ratio compares a company`s total enterprise value to its operating cash flow. It shows how much investors are paying for each dollar of the company`s operating cash flow, including both equity and debt.

EV/OCF
13.4
=
Enterprise Value
AU$418.1m
/
Operating Cash Flow
AU$29.9m

Enterprise Value to Operating Cash Flow (EV/OCF) ratio compares a company`s total enterprise value to its operating cash flow. It shows how much investors are paying for each dollar of the company`s operating cash flow, including both equity and debt.

EV/OCF
13.4
=
Enterprise Value
AU$418.1m
/
Operating Cash Flow
AU$29.9m

Valuation Scenarios

Elanor Commercial Property Fund is trading below its 3-year average

If EV/OCF returns to its 3-Year Average (14), the stock would be worth AU$0.56 (4% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+99%
Average Upside
30%
Scenario EV/OCF Value Implied Price Upside/Downside
Current Multiple 13.4 AU$0.54
0%
3-Year Average 14 AU$0.56
+4%
5-Year Average 14.8 AU$0.59
+10%
Industry Average 26.7 AU$1.07
+99%
Country Average 14.1 AU$0.56
+5%

Forward EV/OCF
Today’s price vs future operating cash flow

Not enough data available to calculate forward EV/OCF

Peer Comparison

All Multiples
EV/OCF
P/E
All Countries
Close
P/E Multiple
Earnings Growth PEG
AU
Elanor Commercial Property Fund
ASX:ECF
Average P/E: 22.3
Negative Multiple: -40.4
N/A N/A
US
Boston Properties Inc
NYSE:BXP
33.3
9%
3.7
US
Alexandria Real Estate Equities Inc
NYSE:ARE
Negative Multiple: -5.5 N/A N/A
FR
Covivio SA
PAR:COV
8.6
-7%
N/A
JP
Nippon Building Fund Inc
TSE:8951
27
4%
6.7
US
COPT Defense Properties
NYSE:CDP
46.7
3%
15.6
US
Vornado Realty Trust
NYSE:VNO
6.6
-56%
N/A
JP
Japan Real Estate Investment Corp
TSE:8952
23.3
2%
11.6
AU
Dexus
ASX:DXS
12.9
64%
0.2
SG
Keppel REIT
SGX:K71U
Not Available
-21%
N/A
JP
Kenedix Office Investment Corp
TSE:8972
19.8
1%
19.8

Market Distribution

In line with most companies in Australia
Percentile
47th
Based on 1 376 companies
47th percentile
13.4
Low
0 — 9.3
Typical Range
9.3 — 24.1
High
24.1 —
Distribution Statistics
Australia
Min 0
30th Percentile 9.3
Median 14.1
70th Percentile 24.1
Max 9 251.5

Elanor Commercial Property Fund
Glance View

Market Cap
217.7m AUD
Industry
Real Estate

Elanor Commercial Property Fund is a real estate investment trust investing in commercial office assets. The company is headquartered in Sydney, New South Wales. The company went IPO on 2019-12-06. The firm's investment property portfolio consists of approximately seven commercial properties in Australia. The firm's investment objective is to provide risk-adjusted returns by investing in commercial office properties. The firm's investment strategy includes investing in commercial properties located in metropolitan areas and commercial precincts, implement leasing and active asset management, acquiring additional investment grade commercial properties and to maintain a capital structure with a target gearing range between approximately 30% and 40%. The firm is managed by Elanor Funds Management Limited.

ECF Intrinsic Value
0.836 AUD
Undervaluation 36%
Intrinsic Value
Price AU$0.535
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