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Seritage Growth Properties (SRG) Fair Value & Analysis

Real Estate · US · Market cap $148M

SG Seritage Growth Properties logo Seritage Growth Properties SRG · US
Price$2.27
Fair Value$3.94
Upside+73.6%
Quality44/100
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Weak Growth
Thin margins · 0.0% net margin
Low debt · negative free cash flow
Trails peers (3/9)
Narrow moat 6/100
Evidence: Low Range $2.94 – $5.88 Share as image

Fair value as of: Aug 13, 2026

From 3 valuation models · updated today

Share price −14.3% over the past month.

Below-average quality, screening 74% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case ($2.94). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range ($2.94 to $5.88) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$19.43 $2.27 Fair Value $3.94 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range $2.27 – $19.43 · fair‑value band $2.94 – $5.88 · the $2.27 price screens below the $3.94 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Seritage Growth Properties (SRG) currently trades at $2.27, while our model-based Fair Value estimate is $3.94, implying the stock looks roughly 73.6% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Trailing-twelve-month revenue stands at $15.5M. It earns a return on equity of -22.3%. Fundamentals as of Aug 13, 2026

Our scenario range runs from $2.94 (bear case) to $5.88 (bull case); at $2.27, 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 50% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 74%, SRG screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Gordon GGM $0.6100 $0.6500 $0.7100 70
DDM Multi-Stage $0.6100 $0.7000 $0.8200 61
NCAV (Graham) $2.94 $3.94 $5.88 50
All 3 models by family
Dividend Discount
Gordon GGM $0.6100 $0.6500 $0.7100 70
DDM Multi-Stage $0.6100 $0.7000 $0.8200 61
Asset-Based
NCAV (Graham) $2.94 $3.94 $5.88 50

Widest divergence: Asset-Based ($3.94) versus Dividend Discount ($0.6500). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) $15.5M
Revenue growth (YoY) -98.4%
Return on equity -22.3%
Free cash flow −$34.9M FY2025
Operating margin -8,919%
EPS (TTM) $-1.44
More key figures
EPS growth (YoY) -97.6%
Net cash $411K FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 45 · Market factors (momentum, volatility) 15

Profitability 0
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 25
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 15
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 59
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.

About the company

Seritage Growth Properties was principally engaged in the ownership, development, redevelopment, management, sale and leasing of diversified retail and mixed-use properties throughout the United States.

Full company description

Seritage Growth Properties was principally engaged in the ownership, development, redevelopment, management, sale and leasing of diversified retail and mixed-use properties throughout the United States. As of March 31, 2026, the Company's portfolio consisted of interests in 10 properties comprised of approximately 0.8 million square feet of gross leasable area or build-to-suit leased area and 154 acres of land. The portfolio encompasses five consolidated properties consisting of approximately 0.3 million square feet of GLA and 71 acres (such properties, the Consolidated Properties) and five unconsolidated entities consisting of approximately 0.5 million square feet of GLA and 83 acres (such properties, the Unconsolidated Properties). Seritage Growth Properties was incorporated in 2015 in Maryland, USA.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Seritage Growth Properties reported revenue of $18.2M in FY2025 versus $117M in FY2021, a compound −37.2%/yr. Reported net income was −$68.2M in FY2025.

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$18.2M
Latest YoY
+3.3%
Avg. 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.
−44.6%
Avg. 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.
−31.0%
Avg. growth/yr (11Y) 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.
−21.8%
Revenue −37.2%/yr
FY21 $117M
FY22 $107M
FY23 $20.8M
FY24 $17.6M
FY25 $18.2M
Net income
FY21 −$28.1M
FY22 −$73.9M
FY23 −$155M
FY24 −$154M
FY25 −$68.2M

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Cite: Fair Value Calculator (2026). "Seritage Growth Properties Fair Value". https://www.fairvalue-calculator.com/stock/SRG

Peer Group

Real Estate Services · 529 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 46 · Below median
Fair Value upside +74% · Top 25%
Return on assets -3% · Bottom 25%
Net margin (TTM) 0% · Below median
Revenue growth -98% · Bottom 25%
Debt / equity 0.14× · Lower than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/B 0.45× · Cheaper than median
P/S (TTM) 9.51× · Pricier than 75% of peers

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.

VALUE 100 · sector 35
FUTURE 0 · sector 10
PAST 0 · sector 16
HEALTH 93 · sector 85
DIVIDEND 0 · sector 50

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 392.00 IDR 1,012 IDR +158%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is Seritage Growth Properties (SRG) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of $3.94 versus a price of $2.27, about +74% (undervalued).
What is the fair value of SRG?
Our model-based fair value for Seritage Growth Properties is $3.94 (as of Aug 13, 2026), built from audited fundamentals. The current price is $2.27.
What is the quality score of SRG?
Seritage Growth Properties has a Quality Score of 44/100. 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 Seritage Growth Properties (SRG)?
Seritage Growth Properties reported trailing-twelve-month revenue of about $15.5M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SRG?
The net profit margin of Seritage Growth Properties is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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