PSP Swiss Property PSPN.SW
SwitzerlandReal Estate · Real Estate ServicesSIX Swiss Exchange · CHF
158.00 CHF (+11.2%)
7 analysts
XTB1.00 €affiliateOpen account ↗
Interactive Brokers7.04 €Open account ↗XTB1.00 €★ featured · affiliateOpen account ↗Interactive Brokers7.04 €Open account ↗XTB1.00 €★ featured · affiliateOpen account ↗200.00 € order · cheapest cheapest available in your country iCompare all 22 brokers →What does it do?
PSP Swiss Property is a Swiss real estate company that owns, manages, and develops high-quality commercial and residential properties in prime Swiss locations, generating income primarily from rents.
Listed on SIX Swiss Exchange · Symbol PSPN.SW · SWX: PSPN · Currency CHF
Key points
from its scores- ✓Strong growth9.3
- ✓Favourable backdrop8.0
- ✕Little or no dividend3.5
- ✕Fragile balance sheet4.0
- !Somewhat demanding valuation5.0
AI analysis
bottom line, main risk, context and newsHigh leverage and interest rate exposure offset strong growth, so caution is warranted until the balance sheet is deleveraged.
PSP Swiss Property shows exceptional revenue growth (171.8%) and solid cash conversion (91.4%), but its financial health is fragile due to very high leverage (Net Debt/EBITDA of 9.85x) and modest return on equity (ROE 8.1%), making it vulnerable to rising debt costs.
The main risk is the high financial leverage (Net Debt/EBITDA of 9.85x), which in a rising interest rate environment could significantly compress margins and refinancing capacity.
Context and risks
PSP is a Swiss REIT with very high leverage (Net Debt/EBITDA of 9.85x), which materially exposes it to the global tightening of financial conditions and the rise in long-term rates. Although Switzerland offers a stable institutional environment, the company's balance sheet structure amplifies interest rate risk, which is its main vulnerability in the current environment.
Is PSP Swiss Property stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 27% below the Real Estate median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 14.5 | 21.6 | −33% |
| EV / EBITDA | 29.0 | 18.5 | +57% |
| Price / book | 1.1 | 1.4 | −20% |
| Price / sales | 13.0 | 6.3 | +106% |
Sector: median of the 100 Real Estate companies analysed. In bold, the multiples used for the comparison.
Valuation score: 5.0 out of 10 (median for Real Estate: 4.9).
Average analyst target: 158.00 CHF, +11.2% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 4.0 (sector 5.5), Growth 9.3 (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
- 14.5
- Forward P/E
- 26.7
- EV / EBITDA
- 29.0
- Price / book
- 1.1
- Price / sales
- 13.0
- PEG
- 6.19
- Market cap
- 6.5B CHF
- Enterprise value
- 9.9B CHF
Profitability
- ROE
- 8.1%
- ROA
- 2.1%
- ROIC (approx.)
- 2.6%
- Gross margin
- 74.0%
- Operating margin
- 47.7%
- Net margin
- 89.9%
- Free cash flow
- 310.9M CHF
- FCF yield
- 4.8%
- Cash conversion
- 91%
Solvency
- Total debt
- 3.4B CHF
- Net debt
- 3.3B CHF
- Cash
- 39.4M CHF
- EBITDA
- 340.1M CHF
- Net debt / EBITDA
- 9.85
- Debt / equity
- 59.43
- Current ratio
- 0.10
- Quick ratio
- 0.07
Growth
- Revenue growth
- +171.8%
- Earnings growth
- +28.4%
- EPS (TTM)
- 9.83 CHF
- EPS (forward)
- 5.32 CHF
Dividend
- Dividend yield
- 2.8%
- Payout
- 40.2%
Risk and market
- Beta
- 0.46
- Analyst consensus
- none (7)
- Target price
- 158.00 CHF
- 52-week range
- 132.30 – 168.40
Recent news
All PSPN.SW news →Compare it with its sector
All 100 in Real Estate →Frequently asked questions about PSP Swiss Property
Is PSP Swiss Property stock cheap or expensive?
On P/E and Price / book, it trades 27% below the Real Estate median on average. Valuation score: 5.0 out of 10 (median for Real Estate: 4.9). Average analyst target: 158.00 CHF, +11.2% versus the price. This is not investment advice.
What score does PSP Swiss Property get on MeridIAn Screener?
It scores 5.4 out of 10, rank 1,496 of 2,130 (better than 29% of the companies analysed). Its strongest category is Growth (9.3) and its weakest, Dividend (3.5). Analysis of 08/10/2026.
What is PSP Swiss Property's P/E ratio?
Its P/E is 14.5: the share price equals 14.5 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 26.7.
How much is PSP Swiss Property worth on the stock market?
Its market capitalisation is 6.5B CHF.
Does PSP Swiss Property pay a dividend?
Yes: its dividend yield is 2.78% and it pays out 40% of its earnings.
How has PSP Swiss Property stock performed over the last year?
It has risen 6.9% over the last year, excluding dividends. Over the last 52 weeks it has traded between 132.30 and 168.40 CHF. Past performance does not guarantee future results.
What do analysts think of PSP Swiss Property?
7 analysts cover it; their average recommendation is “none” and their average target is 158.00 CHF (+11.2% versus the price). It is an estimate, not market data.