CPI Europe AG (CPI) Fair Value & Analysis
Real Estate · AT · Market cap €2.1B · ISIN AT0000A21KS2
What is CPI Europe AG really worth?
A solid business, trading 54% below our fair value of €33.60.
Strengths
Risks
Fair value as of: Aug 14, 2026
From 11 valuation models · updated 22 days ago
Fair value updated Aug 14, 2026, revised from €34.98 to €33.60 (−3.9%) since Jul 16, 2026. Share price −0.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price is below even our cautious bear case (€28.96). The market is more pessimistic than our downside scenario.
- Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (€28.96 to €62.73) 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.
How to read this chart
60‑month range €10.84 – €32.35 · fair‑value band €28.96 – €62.73 · the €15.52 price screens below the €33.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.
Analysis
CPI Europe AG (CPI) currently trades at €15.52, while our model-based Fair Value estimate is €33.60, implying the stock looks roughly 53.8% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Real Estate sector. Bull case: the Multiples group reads highest at a median of €38.62 per share, and 11 of the 11 models we run sit above the €15.52 price. Bear case: the Asset-Based group reads lowest at €21.65, and 0 of the 11 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, CPI Europe AG generated revenue of €765M at a net margin of 74.1%. Revenue grew 1.5% year over year. It earns a return on equity of 13.4%. Net debt stands at €3.3B. Fundamentals as of Aug 14, 2026
Our scenario range runs from €28.96 (bear case) to €62.73 (bull case); at €15.52, 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 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −23% fair-value upside, at 116%, CPI screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €2.52 per share, which is 7.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 11 models by family
Widest divergence: Multiples (€38.62) versus Asset-Based (€21.65). Highest evidence: Residual Income (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 45
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
CPI Europe AG, together with its subsidiaries, engages in the purchasing, leasing, realization, acquisition, and developing of properties in Austria, Germany, Poland, the Czech Republic, Hungary, Romania, Slovakia, Croatia, Serbia, Slovenia, and Italy. The company manages and develops retail and office properties under the myhive, STOP SHOP, and VIVO!
Full company description
CPI Europe AG, together with its subsidiaries, engages in the purchasing, leasing, realization, acquisition, and developing of properties in Austria, Germany, Poland, the Czech Republic, Hungary, Romania, Slovakia, Croatia, Serbia, Slovenia, and Italy. The company manages and develops retail and office properties under the myhive, STOP SHOP, and VIVO! Brands. Its portfolio includes office buildings, retail and residential properties, and hotels. In addition, the company owns and operates hotels. The company was formerly known as IMMOFINANZ AG and changed its name to CPI Europe AG in March 2025. CPI Europe AG was founded in 1990 and is headquartered in Vienna, Austria.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
CPI Europe AG reported revenue of €820M in FY2025 versus €375M in FY2021, a compound +21.6%/yr. Reported net income was €514M in FY2025, compounding +10.3%/yr from FY2021.
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Peer Group
Real Estate Services · 523 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.
Valuation Multiples vs Real Estate Services median · lower = cheaper
Strength profile in five axes (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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CBRE Group CBRE | $148.74 | $69.47 | −53% |
| Vonovia SE VNA | €19.85 | €36.67 | +85% |
| Cellnex Telecom, S.A CLNX | €27.47 | €25.46 | −7% |
| KE Holdings BEKE | $17.42 | $6.57 | −62% |
| Jones Lang LaSalle Incorporated JLL | $378.01 | $290.25 | −23% |
| Swire Properties Limited 1972 | HK$24.84 | HK$5.12 | −79% |
| CoStar Group CSGP | $32.22 | $4.64 | −86% |
| China Resources Mixc Lifestyle Services Limited 1209 | HK$39.84 | HK$34.95 | −12% |
| CapitaLand Investment Limited 9CI | 2.66 SGD | 0.4900 SGD | −82% |
| Plaza S.A MALLPLAZA | 4,040 CLP | 4,571 CLP | +13% |
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