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Scentre Group (SCG) Fair Value & Analysis

Real Estate · AU · Market cap A$20.5B (≈ $14.8B) · ISIN AU000000SCG8

What is Scentre Group really worth?

SG Scentre Group SCG · AU
PriceA$3.56
Fair ValueA$3.34
Upside−6.2%
Quality67/100

A solid business, currently priced close to our fair value of A$3.34.

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Strengths

Healthy Growth (revenue 5y +4.4 %/yr)
Highly profitable · 66.2% net margin
Moderate debt · generates free cash flow
Ranks above peers (11/15)
Wide moat 67/100

Risks

!Weak on valuation: 25 out of 100
!Weak on future: 4 out of 100

For context

·5.09% dividend yield
Evidence: High Range A$2.51 – A$4.64

Fair value as of: Sep 5, 2026

From 14 valuation models · updated today

Share price −9.4% 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 sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (A$2.51 to A$4.64) 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)

A$4.13 A$1.91 Fair Value A$3.34 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range A$1.91 – A$4.13 · fair‑value band A$2.51 – A$4.64 · the A$3.56 price screens above the A$3.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Scentre Group (SCG) currently trades at A$3.56, while our model-based Fair Value estimate is A$3.34, implying the stock looks roughly 6.6% fairly valued today. The Quality Score stands at 67/100 (solid quality), in the Real Estate sector. Bull case: the Multiples group reads highest at a median of A$3.70 per share, and 3 of the 14 models we run sit above the A$3.56 price. Bear case: the Growth DCF group reads lowest at A$1.01, and 11 of the 14 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Scentre Group generated revenue of A$2.7B at a net margin of 66.2%. Revenue grew 0.8% year over year. It earns a return on equity of 9.6%. Net debt stands at A$14.6B. Fundamentals as of Sep 5, 2026

Our scenario range runs from A$2.51 (bear case) to A$4.64 (bull case); at A$3.56, the current price sits within 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 15% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −51% fair-value upside, at −6%, SCG 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 A$0.1079 per share, which is 3.2 % 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.

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
FCF DCF A$1.10 A$2.89 77
Residual Income A$3.13 A$3.45 A$4.98 76
Growth DCF A$1.01 A$2.51 75
All 14 models by family
DCF Models
FCF DCF A$1.10 A$2.89 77
5Y Revenue Exit A$0.0600 A$1.49 A$3.30 64
5Y EBITDA Exit A$1.08 A$3.38 A$6.06 71
10Y Revenue Exit A$1.20 A$2.91 64
10Y EBITDA Exit A$0.6400 A$2.51 A$5.01 63
Multiples
P/S Multiple A$2.51 A$3.34 A$4.18 58
P/B Multiple A$4.34 A$5.79 A$7.24 55
EV/EBIT A$3.48 A$5.39 A$7.31 65
EV/EBITDA A$2.21 A$3.70 A$5.19 65
EV/Revenue A$0.2600 A$1.34 A$2.42 48
Asset-Based
NCAV (Graham) A$1.81 A$2.42 A$3.62 54
Growth DCF
Growth DCF A$1.01 A$2.51 75
Rev-Margin DCF A$0.0600 A$1.49 A$3.11 65
Economic Profit
Residual Income A$3.13 A$3.45 A$4.98 76

Widest divergence: Multiples (A$3.70) versus Growth DCF (A$1.01). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 10.5
P/S ratio 6.94 P/E × margin
EPS (TTM) A$0.3400 price ÷ EPS = P/E 10.5
Dividend yield 5.1% payout 53.3%
Net margin 66.2% FY2025
Return on equity 9.6% TTM
More key figures
Profitability
Return on assets (EBIT) 4.5% avg 5y
Operating margin 66.9% TTM
Growth
Revenue (TTM) A$2.7B TTM
Revenue growth (YoY) +0.8% 3y avg +3.0%
EPS growth (YoY) +53.8%
Balance sheet & cash flow
Free cash flow A$1.0B FY2025
Net debt A$14.6B FY2025 · ≈ 14.5 yrs of FCF

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 62 · Market factors (momentum, volatility) 48

Profitability 39
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 80
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.

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

Scentre Group owns 42 Westfield destinations across Australia and New Zealand encompassing approximately 12,000 outlets. Our Purpose is creating extraordinary places and experiences that connect, enrich and are essential to our communities. Our Ambition is to create the places more people choose to come, more often and for longer.

Full company description

Scentre Group owns 42 Westfield destinations across Australia and New Zealand encompassing approximately 12,000 outlets. Our Purpose is creating extraordinary places and experiences that connect, enrich and are essential to our communities. Our Ambition is to create the places more people choose to come, more often and for longer. Scentre Group was incorporated in June 30th, 2014 in Australia.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Scentre Group reported revenue of A$2.7B in FY2025 versus A$2.3B in FY2021, a compound +4.2%/yr. Reported net income was A$1.8B in FY2025, compounding +19.0%/yr from FY2021.

Growth Quality 72/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
A$2.7B
Latest YoY
+1.8%
Avg. revenue 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.
+3.0%
Avg. revenue 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.
+4.4%
Avg. revenue growth/yr (14Y) 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.
+13.1%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+8.8% (3.7 + 5.1)
Revenue +4.2%/yr
FY21 A$2.3B
FY22 A$2.5B
FY23 A$2.5B
FY24 A$2.6B
FY25 A$2.7B
Net income +19.0%/yr
FY21 A$888M
FY22 A$301M
FY23 A$175M
FY24 A$1.0B
FY25 A$1.8B
Character of growth · EPS growth decomposed (2014-2025) −9.9 % p.a.
Revenue per share −0.3 %

of which total revenue +0.4 % · buybacks/dilution −0.7 %

EBIT margin +1.0 %
Tax rate +0.0 %
Residual (interest, one-offs) −10.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Scentre Group Fair Value". https://www.fairvalue-calculator.com/stock/SCG

Peer Group

REIT - Retail · 94 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 68 · Top 25%
Fair Value upside −6% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 3% · Above median
Net margin (TTM) 66% · Above median
Operating margin (TTM) 67% · Above median
Revenue growth 1% · Below median
Dividend yield (TTM) 5.1% · Below median
Debt / equity 0.65× · Lower than median

Valuation Multiples vs REIT - Retail median · lower = cheaper

P/E (TTM) 10.5× · Cheaper than median
P/B 0.78× · Cheaper than median
P/S (TTM) 5.51× · Cheaper than median
P/FCF 14.7× · Pricier than median
EV/EBITDA 10.0× · Cheaper than 75% of peers
PEG 8.80× · Pricier than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE25 · sector 15
FUTURE4 · sector 22
PAST39 · sector 30
HEALTH67 · sector 67
DIVIDEND100 · sector 100

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

Similar stocks

10 more REIT - Retail stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
Simon Property Group SPG $212.32 $84.26 −60%
Realty Income Corporation O $61.98 $30.45 −51%
Unibail-Rodamco-Westfield SE URW €103.40 €98.09 −5%
Kimco Realty Corporation KIM $23.71 $12.49 −47%
CapitaLand Integrated Commercial Trust (CICT or the Trust) C38U 2.38 SGD 0.9100 SGD −62%
Regency Centers Corporation REG $75.92 $33.37 −56%
Link Real Estate Investment Trust (Link REIT) 0823 HK$39.76 HK$41.98 +6%
Federal Realty Investment Trust FRT $116.75 $41.47 −64%
Brixmor Property Group BRX $29.50 $12.34 −58%
Agree Realty Corporation ADC $73.20 $38.85 −47%

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Frequently asked questions

Is Scentre Group (SCG) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of A$3.34 versus a price of A$3.56, about −6% upside (fairly valued).
What is the fair value of SCG?
Our model-based fair value for Scentre Group is A$3.34 (as of Sep 5, 2026), built from audited fundamentals. The current price: A$3.56.
What is the quality score of SCG?
Scentre Group has a Quality Score of 67/100. 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 Scentre Group (SCG)?
Scentre Group reported trailing-twelve-month revenue of about A$2.7B (latest available figure, as of Sep 5, 2026).
What is the net profit margin of SCG?
The net profit margin of Scentre Group is about 66.2%, meaning it keeps roughly 66.2% of revenue as net income. Based on the latest reported figures.
Does Scentre Group pay a dividend?
Scentre Group currently shows a dividend yield of about 5.09% relative to its recent price (as of Sep 5, 2026).
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