One United Properties SA (ONE) Fair Value & Analysis

Real Estate · RO · Market cap 3.5B RON (≈ $768M) · ISIN ROJ8YZPDHWW8

What is One United Properties SA really worth?

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

• The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain.
• The price is below even our cautious bear case (44.06 RON). The market is more pessimistic than our downside scenario.
• 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 29, 2026.

How to read this chart

60‑month range 16.21 RON – 36.75 RON · fair‑value band 44.06 RON – 73.43 RON · the 32.80 RON price screens below the 58.74 RON fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

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Analysis

One United Properties SA (ONE) currently trades at 32.80 RON, while our model-based Fair Value estimate is 58.74 RON, implying the stock looks roughly 44.2% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Real Estate sector. Bull case: the Multiples group reads highest at a median of 59.38 RON per share, and 5 of the 9 models we run sit above the 32.80 RON price. Bear case: the Dividend Discount group reads lowest at 10.84 RON, and 4 of the 9 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, One United Properties SA generated revenue of 1.2B RON at a net margin of 26.4%. Revenue declined 53.4% year over year. It earns a return on equity of 9.5%. Net debt stands at 910M RON. Fundamentals as of Aug 29, 2026

Our scenario range runs from 44.06 RON (bear case) to 73.43 RON (bull case); at 32.80 RON, 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 8% below its 52-week high and 69% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −19% fair-value upside, at 79%, ONE 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 1.41 RON per share, which is 2.4 % 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.

Widest divergence: Multiples (59.38 RON) versus Dividend Discount (10.84 RON). Highest evidence: Residual Income (69).

Key figures & financial health

Quality Score breakdown

About the company

One United Properties SA, together with its subsidiaries, develops and sells real estate properties in Romania. It operates through Residential; and Office, Retail & Landbank segments. The company engages in the investment and development of residential, mixed-use, commercial, office, and hospitality real estate projects under the One brand.

Full company description

One United Properties SA, together with its subsidiaries, develops and sells real estate properties in Romania. It operates through Residential; and Office, Retail & Landbank segments. The company engages in the investment and development of residential, mixed-use, commercial, office, and hospitality real estate projects under the One brand. It also provides architecture services for group and non-group projects; project development; property management; and management services. In addition, the company leases office premises and retail spaces. One United Properties SA was incorporated in 2007 and is headquartered in Bucharest, Romania.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

One United Properties SA reported revenue of 1.3B RON in FY2025 versus 715M RON in FY2021, a compound +15.1%/yr. Reported net income was 395M RON in FY2025, compounding +0.2%/yr from FY2021.

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Peer Group

Real Estate - Development · 567 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 - Development 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.

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