LEG Immobilien LEG.DE
GermanyReal Estate · Real Estate ServicesXetra · EUR
70.31 EUR (+55.3%)
14 analysts
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LEG Immobilien SE is a German real estate company that owns and manages a large portfolio of residential rental apartments, mainly in North Rhine-Westphalia, generating recurring rental income.
Listed on Xetra · Symbol LEG.DE · ETR: LEG · Currency EUR
Key points
from its scores- ✓Attractive valuation7.1
- ✕Poor share-price trend1.6
- ✕Fragile balance sheet2.8
- ✕Weak growth4.1
AI analysis
bottom line, main risk, context and newsHold only for investors with high risk tolerance and a long-term horizon; the high debt and rising interest rates in Europe are significant risks that could continue to pressure the stock.
LEG Immobilien has very weak financial health (Net Debt/EBITDA of 14.64) and stagnant growth, but its valuation is attractive (P/B of 0.39, FCF yield of 9.45%) and it offers a net dividend yield of 5.72%. Momentum is very negative (2nd percentile in 52 weeks), reflecting sector pressure from interest rates.
The main risk is the very high leverage (Net Debt/EBITDA of 14.64) in an environment of rising rates by the ECB, which makes refinancing more expensive and could further compress margins and valuation.
Context and risks
LEG Immobilien operates in the German residential real estate sector, subject to a regulatory framework with rent controls and energy efficiency requirements that can limit revenue growth. Governance in Germany is solid, but exposure to housing market regulation is a structural risk to the business model.
Is LEG Immobilien stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 79% below the Real Estate median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 3.0 | 21.6 | −86% |
| EV / EBITDA | 20.2 | 18.5 | +9% |
| Price / book | 0.4 | 1.4 | −73% |
| Price / sales | 2.4 | 6.3 | −63% |
Sector: median of the 100 Real Estate companies analysed. In bold, the multiples used for the comparison.
Valuation score: 7.1 out of 10 (median for Real Estate: 4.9).
Average analyst target: 70.31 EUR, +55.3% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 2.8 (sector 5.5), Growth 4.1 (sector 5.7).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Real Estate medianValuation
- P/E
- 3.0
- Forward P/E
- 7.7
- EV / EBITDA
- 20.2
- Price / book
- 0.4
- Price / sales
- 2.4
- Market cap
- 3.5B EUR
- Enterprise value
- 12.7B EUR
Profitability
- ROE
- 15.6%
- ROA
- 1.8%
- ROIC (approx.)
- 3.3%
- Gross margin
- 45.3%
- Operating margin
- 41.9%
- Net margin
- 87.6%
- Free cash flow
- 328.6M EUR
- FCF yield
- 9.4%
- Cash conversion
- 52%
Solvency
- Total debt
- 9.6B EUR
- Net debt
- 9.2B EUR
- Cash
- 463.6M EUR
- EBITDA
- 626.3M EUR
- Net debt / EBITDA
- 14.64
- Debt / equity
- 108.44
- Current ratio
- 0.33
- Quick ratio
- 0.27
Growth
- Revenue growth
- +1.2%
- Earnings growth
- −1.5%
- EPS (TTM)
- 15.01 EUR
- EPS (forward)
- 5.89 EUR
Dividend
- Dividend yield
- 6.5%
- Payout
- 19.5%
Risk and market
- Beta
- 1.38
- Analyst consensus
- Buy (14)
- Target price
- 70.31 EUR
- 52-week range
- 44.72 – 71.65
Recent news
All LEG.DE news →Compare it with its sector
All 100 in Real Estate →Frequently asked questions about LEG Immobilien
Is LEG Immobilien stock cheap or expensive?
On P/E and Price / book, it trades 79% below the Real Estate median on average. Valuation score: 7.1 out of 10 (median for Real Estate: 4.9). Average analyst target: 70.31 EUR, +55.3% versus the price. This is not investment advice.
What score does LEG Immobilien get on MeridIAn Screener?
It scores 4.4 out of 10, rank 1,900 of 2,130 (better than 10% of the companies analysed). Its strongest category is Valuation (7.1) and its weakest, Momentum (1.6). Analysis of 08/10/2026.
What is LEG Immobilien's P/E ratio?
Its P/E is 3.0: the share price equals 3.0 times earnings per share over the last 12 months. The Real Estate median is 21.6. Based on the earnings analysts expect, the forward P/E is 7.7.
How much is LEG Immobilien worth on the stock market?
Its market capitalisation is 3.5B EUR.
Does LEG Immobilien pay a dividend?
Yes: its dividend yield is 6.45% and it pays out 19% of its earnings.
How has LEG Immobilien stock performed over the last year?
It has fallen 29.6% over the last year, excluding dividends. Over the last 52 weeks it has traded between 44.72 and 71.65 EUR. Past performance does not guarantee future results.
What do analysts think of LEG Immobilien?
14 analysts cover it; their average recommendation is “Buy” and their average target is 70.31 EUR (+55.3% versus the price). It is an estimate, not market data.