Relative Value

The Relative Value of one OYY stock under the Base Case scenario is 1.34 SGD. Compared to the current market price of 1.05 SGD, PropNex Ltd is Undervalued by 21%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

OYY Relative Value
Base Case
1.34 SGD
Undervaluation 21%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
4
vs Industry
71
Median 3Y
0.7
Median 5Y
0.6
Industry
3.6
Forward
0.8
vs History
4
vs Industry
25
Median 3Y
13
Median 5Y
9.1
Industry
16.5
Forward
13.4
vs History
4
vs Industry
14
Median 3Y
11.7
Median 5Y
7.8
Industry
10.9
vs History
4
vs Industry
15
Median 3Y
12.4
Median 5Y
8.1
Industry
12.8
vs History
7
vs Industry
3
Median 3Y
5.2
Median 5Y
4.7
Industry
0.8
vs History
4
vs Industry
80
Median 3Y
0.6
Median 5Y
0.4
Industry
6.4
Forward
0.7
vs History
4
vs Industry
52
Median 3Y
5.9
Median 5Y
4.1
Industry
11.8
vs History
4
vs Industry
40
Median 3Y
8.5
Median 5Y
5.3
Industry
15.8
Forward
9.2
vs History
4
vs Industry
42
Median 3Y
9.1
Median 5Y
5.5
Industry
18.9
Forward
9.5
vs History
4
vs Industry
37
Median 3Y
9.4
Median 5Y
5.9
Industry
18.4
vs History
4
vs Industry
34
Median 3Y
9.5
Median 5Y
5.9
Industry
20.2
vs History
vs Industry
0
Median 3Y
-8.9
Median 5Y
-8.2
Industry
0.7

Multiples Across Competitors

OYY Competitors Multiples
PropNex Ltd Competitors

Market Cap P/S P/E EV/EBITDA EV/EBIT
SG
PropNex Ltd
SGX:OYY
777m SGD 1 19 13.5 14.4
US
CBRE Group Inc
NYSE:CBRE
37.7B USD 1 37.5 18.7 26.9
CN
Ke Holdings Inc
HKEX:2423
180.2B HKD 1.8 42.2 23.6 29.7
US
Zillow Group Inc
NASDAQ:ZG
16.2B USD 7.3 -145 242.1 -76.5
US
Jones Lang LaSalle Inc
NYSE:JLL
11B USD 0.5 20.2 11 14.2
CA
FirstService Corp
TSX:FSV
10.9B CAD 1.5 60.3 17.7 26.8
CA
Colliers International Group Inc
TSX:CIGI
8.5B CAD 1.3 38.1 13 20.9
US
Compass Inc
NYSE:COMP
4.1B USD 0.7 -26.3 -66 -27.4
UK
Cushman & Wakefield PLC
NYSE:CWK
2.3B USD 0.2 17.5 8.9 11.7
HK
China Overseas Property Holdings Ltd
HKEX:2669
17.9B HKD 1.3 11.9 5.9 5.9
JP
Relo Group Inc
TSE:8876
291.2B JPY 2 -91.9 5 9.1
P/E Multiple
Earnings Growth PEG
SG
PropNex Ltd
SGX:OYY
Average P/E: 30.8
19
12%
1.6
US
CBRE Group Inc
NYSE:CBRE
37.5
36%
1
CN
K
Ke Holdings Inc
HKEX:2423
42.2
-1%
N/A
US
Zillow Group Inc
NASDAQ:ZG
Negative Multiple: -145 N/A N/A
US
Jones Lang LaSalle Inc
NYSE:JLL
20.2
24%
0.8
CA
FirstService Corp
TSX:FSV
60.3
N/A N/A
CA
Colliers International Group Inc
TSX:CIGI
38.1
41%
0.9
US
C
Compass Inc
NYSE:COMP
Negative Multiple: -26.3 N/A N/A
UK
Cushman & Wakefield PLC
NYSE:CWK
17.5
38%
0.5
HK
C
China Overseas Property Holdings Ltd
HKEX:2669
11.9
12%
1
JP
Relo Group Inc
TSE:8876
Negative Multiple: -91.9 N/A N/A
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
SG
PropNex Ltd
SGX:OYY
Average EV/EBITDA: 35.9
13.5
13%
1
US
CBRE Group Inc
NYSE:CBRE
18.7
19%
1
CN
K
Ke Holdings Inc
HKEX:2423
23.6
42%
0.6
US
Zillow Group Inc
NASDAQ:ZG
242.1
163%
1.5
US
Jones Lang LaSalle Inc
NYSE:JLL
11
14%
0.8
CA
FirstService Corp
TSX:FSV
17.7
N/A N/A
CA
Colliers International Group Inc
TSX:CIGI
13
16%
0.8
US
C
Compass Inc
NYSE:COMP
Negative Multiple: -66 N/A N/A
UK
Cushman & Wakefield PLC
NYSE:CWK
8.9
17%
0.5
HK
C
China Overseas Property Holdings Ltd
HKEX:2669
5.9
11%
0.5
JP
Relo Group Inc
TSE:8876
5
4%
1.3
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
SG
PropNex Ltd
SGX:OYY
Average EV/EBIT: 17.7
14.4
15%
1
US
CBRE Group Inc
NYSE:CBRE
26.9
27%
1
CN
K
Ke Holdings Inc
HKEX:2423
29.7
37%
0.8
US
Zillow Group Inc
NASDAQ:ZG
Negative Multiple: -76.5 N/A N/A
US
Jones Lang LaSalle Inc
NYSE:JLL
14.2
14%
1
CA
FirstService Corp
TSX:FSV
26.8
9%
3
CA
Colliers International Group Inc
TSX:CIGI
20.9
14%
1.5
US
C
Compass Inc
NYSE:COMP
Negative Multiple: -27.4 N/A N/A
UK
Cushman & Wakefield PLC
NYSE:CWK
11.7
16%
0.7
HK
C
China Overseas Property Holdings Ltd
HKEX:2669
5.9
9%
0.7
JP
Relo Group Inc
TSE:8876
9.1
N/A N/A