Shopper Park Plus Nyilvánosan Muködo Részvénytársaság

€13.00As of Sun 8 Nov 2026, 12:00 UTC

BUD:SPLUSReal Estate

Country Hungary

PE (Fwd) •••

TSR 3Y CAGR 13.75%

Div yield 7.16%

ROE 23.74%

Real Estate Investment Trusts

Beta (5Y) (0.08)

PE TTM 4.310

TSR TTM 18.64%

Mkt cap €313.8M

ROIC 4.52%

SE Grade™

Value

Quality

Moat

Consensus

Reference

€15

14.52%

(31.75%)

Hold 9|9|7|4|12

TTM

FYE 31 Dec EUR

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

34.14

Revenue€M

43.36

45.92

48.91

50.84

54.60

56.34

58.58

62.22

66.70

70.81

37.11

5.34%

5.52%

27.79

Revenue growth%

20.47

22.02

22.26

25.17

24.71

25.64

22.98

24.08

21.76

20.69

22.75

22.98

22.62

6.95

Gross margin%

4.79

4.51

3.79

5.16

3.19

0.68

2.61

2.37

3.67

2.72

9.48

2.61

3.43

21.56

Operating margin%

22.76

25.73

24.60

23.85

26.53

24.10

21.87

21.54

20.32

22.58

7.06

21.87

23.30

14.42

Net margin%

16.88

14.24

15.49

17.96

16.85

19.69

17.70

19.08

20.42

23.12

16.69

19.69

17.83

7.719

P/E ratio (avg)x

19.29

18.35

21.15

20.89

23.76

24.98

28.88

33.38

33.22

32.48

26.85

32.48

24.37

14.79

EV/EBITx

35.45

38.95

36.29

32.98

33.23

33.95

33.78

31.11

27.86

30.41

31.08

31.11

33.50

8.54

FCF yield (avg)%

12.09

10.38

8.24

8.26

7.40

5.41

5.99

3.50

6.24

6.33

4.69

5.99

6.87

19.92

FCF margin%

28.26

27.12

27.81

28.64

30.83

33.30

34.44

35.87

38.07

40.29

21.45

35.87

32.06

0.575

FCF / Net incomex

2.021

2.364

2.323

2.299

2.519

2.770

3.020

3.466

3.362

3.897

0.169

3.362

2.644

8.01

ROIC%

14.85

13.23

11.63

13.11

14.91

16.36

18.65

17.83

19.92

20.68

13.23

18.65

15.63

2.26

Return on equity%

19.98

22.11

20.84

21.27

18.56

16.62

14.40

12.49

15.04

13.48

16.86

14.40

17.59

7.71

Return on assets%

2.96

5.01

5.38

7.55

9.20

6.80

3.81

3.02

5.05

6.03

29.63

5.05

5.21

1.44

EPS€

0.59

0.62

0.72

0.79

0.91

1.01

1.04

1.19

1.24

1.53

9.60%

7.66%

—

21.87

EPS growth%

27.21

26.16

25.40

24.13

24.15

22.19

19.98

22.46

21.45

24.36

16.84

22.19

24.14

0.67

Bookvalue per sh€

1.62

1.58

1.65

1.53

1.76

1.87

1.81

2.06

2.15

2.24

1.17

4.87%

3.48%

—

0.43

FCF per share€

0.73

0.71

0.72

0.66

0.70

0.65

0.60

0.64

0.70

0.63

0.74

(2.26%)

(2.37%)

—

0.45

Dividend per sh€

0.38

0.39

0.41

0.38

0.42

0.39

0.43

0.41

0.44

0.59

2.81%

1.72%

—

6.51

Div yield (avg)%

5.70

8.60

9.10

6.59

5.58

5.19

7.93

8.34

8.15

6.13

8.28

7.93

7.26

27.69

Payout ratio%

23.98

25.73

22.82

20.54

17.87

17.98

17.87

19.40

19.06

18.96

13.77

18.96

19.23

23.84

Shares (diluted)M

41.54

44.85

42.67

47.56

52.80

50.68

50.19

57.94

66.69

77.36

23.93

7.94%

7.36%

6.65

Buyback yield%

0.84

0.40

2.39

3.88

4.90

2.71

1.84

3.67

20.59

3.67

2.12

1.378

D/E ratiox

1.368

1.332

1.341

1.572

1.746

1.991

2.173

2.357

2.782

2.675

0.996

2.357

1.869

32.04

Enterprise value€M

43.88

42.21

43.20

44.77

43.77

51.04

52.63

57.87

59.70

67.60

49.92

9.08%

5.70%

6.953

LT debt€M

5.700

6.713

6.411

6.810

6.458

6.873

6.934

7.626

8.739

10.04

34.89

9.22%

7.36%

Peers (US$352.3M)

Cap (US$)

GOPD Nyilvánosan…

568.6M

—

SunDell Estate…

281.3M

35.33x

Graphisoft Park SE…

168.5M

5.689x

IGB Commercial Real…

365.4M

13.01x

Capital

TTM

10Y

Leveragex

1.420

1.311

1.045

EBIT/Intx

19.91

0.273

0.265

Own earn%

72.07

(83.30)

(58.60)

Sh yield%

13.16

9.99

9.29

Owners

Insiders/Inst%

5.95

24.61

Short interest%

1.14

SBC / revenue%

5.00

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

20–27

$1 testx

−0.1

Incr. ROIC%

Shopper Park Plus Nyilvánosan Muködo Részvénytársaság owns, operates, and leases retail parks in Hungary, Poland, Slovakia, and the Czech Republic. It develops and manages commercial real estate properties. The company was incorporated in 2019 and is based in Budapest, Hungary.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

€70.81M

5.52%

1.00×

Cost of revenue

€37.60M

4.94%

0.95×

Operating expenses

€16.50M

6.15%

1.06×