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Pasal Real Estate Development

ATSE:PASAL
Snowflake Description

Good value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PASAL
ATSE
€1M
Market Cap
  1. Home
  2. GR
  3. Real Estate
Company description

Pasal Real Estate Development S.A., a real estate development company, invests in and develops real estate properties. The last earnings update was 184 days ago. More info.


Add to Portfolio Compare Print
  • Pasal Real Estate Development has significant price volatility in the past 3 months.
PASAL Share Price and Events
7 Day Returns
0%
ATSE:PASAL
7.3%
GR Real Estate
1.8%
GR Market
1 Year Returns
28.6%
ATSE:PASAL
-16%
GR Real Estate
-20.5%
GR Market
PASAL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pasal Real Estate Development (PASAL) 0% -2.2% -0.6% 28.6% -16.7% -30.8%
GR Real Estate 7.3% -20.2% -30.9% -16% 17.6% 60.7%
GR Market 1.8% -18.6% -35% -20.5% -9.7% -67.7%
1 Year Return vs Industry and Market
  • PASAL outperformed the Real Estate industry which returned -16% over the past year.
  • PASAL outperformed the Market in Greece which returned -20.5% over the past year.
Price Volatility
PASAL
Industry
5yr Volatility vs Market

PASAL Value

 Is Pasal Real Estate Development undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Pasal Real Estate Development to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Pasal Real Estate Development.

ATSE:PASAL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 29.3%
Perpetual Growth Rate 10-Year GR Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ATSE:PASAL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GR Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 13.7%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.003 (1 + (1- 29%) (9234.66%))
45.066
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.92% + (2 * 13.68%)
29.28%

Discounted Cash Flow Calculation for ATSE:PASAL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Pasal Real Estate Development is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

ATSE:PASAL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 29.28%)
2020 1.58 Est @ 26.67% 1.23
2021 1.89 Est @ 19.25% 1.13
2022 2.16 Est @ 14.05% 1.00
2023 2.38 Est @ 10.41% 0.85
2024 2.57 Est @ 7.86% 0.71
2025 2.72 Est @ 6.08% 0.58
2026 2.85 Est @ 4.83% 0.47
2027 2.97 Est @ 3.96% 0.38
2028 3.07 Est @ 3.35% 0.30
2029 3.16 Est @ 2.92% 0.24
Present value of next 10 years cash flows €6.00
ATSE:PASAL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €3.16 × (1 + 1.92%) ÷ (29.28% – 1.92%)
€11.76
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €11.76 ÷ (1 + 29.28%)10
€0.90
ATSE:PASAL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €6.00 + €0.90
€6.90
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €6.90 / 14.97
€0.46
ATSE:PASAL Discount to Share Price
Calculation Result
Value per share (EUR) From above. €0.46
Current discount Discount to share price of €0.09
= -1 x (€0.09 - €0.46) / €0.46
80.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Pasal Real Estate Development is available for.
Intrinsic value
>50%
Share price is €0.09 vs Future cash flow value of €0.46109
Current Discount Checks
For Pasal Real Estate Development to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pasal Real Estate Development's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Pasal Real Estate Development's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Pasal Real Estate Development's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pasal Real Estate Development's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ATSE:PASAL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €0.24
ATSE:PASAL Share Price ** ATSE (2020-03-26) in EUR €0.09
Europe Real Estate Industry PE Ratio Median Figure of 247 Publicly-Listed Real Estate Companies 10.46x
Greece Market PE Ratio Median Figure of 94 Publicly-Listed Companies 11.94x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Pasal Real Estate Development.

ATSE:PASAL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ATSE:PASAL Share Price ÷ EPS (both in EUR)

= 0.09 ÷ 0.24

0.38x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pasal Real Estate Development is good value based on earnings compared to the Europe Real Estate industry average.
  • Pasal Real Estate Development is good value based on earnings compared to the Greece market.
Price based on expected Growth
Does Pasal Real Estate Development's expected growth come at a high price?
Raw Data
ATSE:PASAL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 0.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Real Estate Industry PEG Ratio Median Figure of 95 Publicly-Listed Real Estate Companies 0.21x
Greece Market PEG Ratio Median Figure of 24 Publicly-Listed Companies 0.55x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Pasal Real Estate Development, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Pasal Real Estate Development's assets?
Raw Data
ATSE:PASAL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €-3.81
ATSE:PASAL Share Price * ATSE (2020-03-26) in EUR €0.09
Greece Real Estate Industry PB Ratio Median Figure of 5 Publicly-Listed Real Estate Companies 0.92x
Greece Market PB Ratio Median Figure of 134 Publicly-Listed Companies 0.73x
ATSE:PASAL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ATSE:PASAL Share Price ÷ Book Value per Share (both in EUR)

= 0.09 ÷ -3.81

-0.02x

* Primary Listing of Pasal Real Estate Development.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pasal Real Estate Development has negative assets, we can't compare the value of its assets to the GR Real Estate industry average.
X
Value checks
We assess Pasal Real Estate Development's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. Pasal Real Estate Development has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PASAL Future Performance

 How is Pasal Real Estate Development expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Pasal Real Estate Development has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-11.2%
Expected Real Estate industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pasal Real Estate Development expected to grow at an attractive rate?
  • Unable to compare Pasal Real Estate Development's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Pasal Real Estate Development's earnings growth to the Greece market average as no estimate data is available.
  • Unable to compare Pasal Real Estate Development's revenue growth to the Greece market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ATSE:PASAL Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -11.2%
Europe Real Estate Industry Revenue Growth Rate Market Cap Weighted Average -4.3%
Greece Market Earnings Growth Rate Market Cap Weighted Average 16.5%
Greece Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ATSE:PASAL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ATSE:PASAL Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 3 1 4
2019-03-31 4 1 -1
2018-12-31 4 1 -6
2018-09-30 4 0 -12
2018-06-30 4 0 -17
2018-03-31 4 0 -19
2017-12-31 3 1 -21
2017-09-30 3 1 -23
2017-06-30 3 1 -24
2017-03-31 3 0 -22
2016-12-31 3 0 -20
2016-09-30 4 -1 -26

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Pasal Real Estate Development is high growth as no earnings estimate data is available.
  • Unable to determine if Pasal Real Estate Development is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ATSE:PASAL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Pasal Real Estate Development Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:PASAL Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 0.24
2019-03-31 -0.10
2018-12-31 -0.43
2018-09-30 -0.78
2018-06-30 -1.13
2018-03-31 -1.28
2017-12-31 -1.43
2017-09-30 -1.51
2017-06-30 -1.58
2017-03-31 -1.47
2016-12-31 -1.36
2016-09-30 -1.74

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Pasal Real Estate Development will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Pasal Real Estate Development is trading at Pasal Real Estate Development'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Pasal Real Estate Development's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Real Estate companies here
  3. Pasal Real Estate Development's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Pasal Real Estate Development's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Pasal Real Estate Development has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PASAL Past Performance

  How has Pasal Real Estate Development performed over the past 5 years?

  • Pasal Real Estate Development's last earnings update was 184 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Pasal Real Estate Development's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Pasal Real Estate Development's year on year earnings growth rate has been positive over the past 5 years.
  • Pasal Real Estate Development has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Pasal Real Estate Development has become profitable in the last year making it difficult to compare the Europe Real Estate industry average.
Earnings and Revenue History
Pasal Real Estate Development's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Pasal Real Estate Development Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:PASAL Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 3.45 3.55 0.81
2019-03-31 3.53 -1.47 0.81
2018-12-31 3.61 -6.49 0.81
2018-09-30 3.58 -11.71 0.80
2018-06-30 3.56 -16.93 0.80
2018-03-31 3.52 -19.17 0.81
2017-12-31 3.48 -21.41 0.82
2017-09-30 3.47 -22.55 0.84
2017-06-30 3.46 -23.69 0.86
2017-03-31 3.48 -21.99 0.84
2016-12-31 3.50 -20.29 0.83
2016-09-30 3.57 -26.06 0.83
2016-06-30 3.48 -19.88 0.82
2016-03-31 3.57 -25.46 0.84
2015-12-31 3.79 -24.34 0.84
2015-09-30 3.95 -12.45 0.82
2015-06-30 4.16 -9.97 0.81
2015-03-31 4.22 -5.13 0.78
2014-12-31 4.32 -6.15 0.80
2014-09-30 4.49 -14.18 0.82
2014-06-30 4.70 -14.68 0.81
2014-03-31 4.92 -14.27 0.82
2013-12-31 5.12 -15.50 0.78
2013-09-30 5.54 -19.74 0.76
2013-06-30 5.99 -19.77 0.78

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Pasal Real Estate Development has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • Pasal Real Estate Development used its assets more efficiently than the Europe Real Estate industry average last year based on Return on Assets.
  • Pasal Real Estate Development has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Pasal Real Estate Development's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Pasal Real Estate Development has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PASAL Health

 How is Pasal Real Estate Development's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Pasal Real Estate Development's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pasal Real Estate Development's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Pasal Real Estate Development's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Pasal Real Estate Development's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Pasal Real Estate Development has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Pasal Real Estate Development Company Filings, last reported 9 months ago.

ATSE:PASAL Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 -56.66 118.59 1.65
2019-03-31 -56.66 118.59 1.65
2018-12-31 -65.21 128.12 1.13
2018-09-30 -65.21 128.12 1.13
2018-06-30 -60.07 126.13 0.82
2018-03-31 -60.07 126.13 0.82
2017-12-31 -58.50 124.71 1.03
2017-09-30 -58.50 124.71 1.03
2017-06-30 -42.93 122.82 0.82
2017-03-31 -42.93 122.82 0.82
2016-12-31 -36.87 121.11 0.33
2016-09-30 -36.87 121.11 0.33
2016-06-30 -19.19 118.59 0.24
2016-03-31 -19.19 118.59 0.24
2015-12-31 -16.44 117.14 0.18
2015-09-30 -1.73 115.78 0.51
2015-06-30 0.96 114.26 0.73
2015-03-31 7.80 102.22 0.13
2014-12-31 8.03 129.25 0.10
2014-09-30 6.81 127.41 0.07
2014-06-30 7.05 127.40 2.21
2014-03-31 9.16 136.76 1.21
2013-12-31 10.41 135.22 1.12
2013-09-30 21.17 132.09 1.17
2013-06-30 21.88 130.38 1.71
  • Pasal Real Estate Development has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Pasal Real Estate Development's debt level has increased considering it has negative shareholder equity.
  • Debt is not well covered by operating cash flow (1.1%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Pasal Real Estate Development's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Pasal Real Estate Development has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PASAL Dividends

 What is Pasal Real Estate Development's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Pasal Real Estate Development dividends.
If you bought €2,000 of Pasal Real Estate Development shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Pasal Real Estate Development's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Pasal Real Estate Development's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ATSE:PASAL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Europe Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 171 Stocks 3.6%
Greece Market Average Dividend Yield Market Cap Weighted Average of 50 Stocks 5%
Greece Minimum Threshold Dividend Yield 10th Percentile 1.7%
Greece Bottom 25% Dividend Yield 25th Percentile 3%
Greece Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ATSE:PASAL Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2009-11-25 0.000 0.000
2009-10-30 0.000 0.000
2009-06-30 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Pasal Real Estate Development has not reported any payouts.
  • Unable to verify if Pasal Real Estate Development's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Pasal Real Estate Development's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Pasal Real Estate Development has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Pasal Real Estate Development's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Pasal Real Estate Development afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pasal Real Estate Development has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PASAL Management

 What is the CEO of Pasal Real Estate Development's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sotiris Theodoridis
AGE 80
CEO Bio

Mr. Sotirios Theodoridis serves as the Chief Executive Officer at Pasal Real Estate Development SA (alternately PASAL Development SA) which was founded in 1991. Mr. Theodoridis served as Managing Director of Trastor Real Estate Investment Company SA since October 31, 2011. He served as the Chief Executive Officer of Trastor Real Estate Investment Company SA. He founded the Office Furniture Industry SATO SA in 1964, where he served as the Chief Executive Officer until September of 2007. Mr. Theodoridis serves as the Executive Chairman of the Board at Pasal Real Estate Development SA (alternately PASAL Development SA), which was founded in 1991. Mr. Theodoridis served as the Chairman and Vice Chairman at Trastor Real Estate Investment Company SA. He served as Executive Director of Trastor Real Estate Investment Company SA.

CEO Compensation
  • Insufficient data for Sotiris to compare compensation growth.
  • Insufficient data for Sotiris to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team

Sotiris Theodoridis

TITLE
Chairman of the Board & CEO
AGE
80

Kostas Markazos

TITLE
VP, CFO & Executive Director
AGE
57
TENURE
12.6 yrs

Maria Anastasiou

TITLE
Chief Accountant
AGE
56
TENURE
12.8 yrs
Board of Directors

Sotiris Theodoridis

TITLE
Chairman of the Board & CEO
AGE
80

Kostas Markazos

TITLE
VP, CFO & Executive Director
AGE
57

Theodoros Apostolidis

TITLE
Independent Non-Executive Director
AGE
70

Panagiota Papanastasiou

TITLE
Non-Executive Director
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Pasal Real Estate Development's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Pasal Real Estate Development has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PASAL News

Simply Wall St News

Pasal Real Estate Development (ATH:PASAL) Has A Somewhat Strained Balance Sheet

View our latest analysis for Pasal Real Estate Development What Is Pasal Real Estate Development's Debt? … ATSE:PASAL Historical Debt, August 29th 2019 A Look At Pasal Real Estate Development's Liabilities We can see from the most recent balance sheet that Pasal Real Estate Development had liabilities of €121.8m falling due within a year, and liabilities of €23.7m due beyond that. … Over the last year, Pasal Real Estate Development actually produced more free cash flow than EBIT.

Simply Wall St -

Did Changing Sentiment Drive Pasal Real Estate Development's (ATH:PASAL) Share Price Down By 43%?

Unfortunately, that's been the case for longer term Pasal Real Estate Development S.A. … View our latest analysis for Pasal Real Estate Development Pasal Real Estate Development isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … In the last three years Pasal Real Estate Development saw its revenue shrink by 0.6% per year.

Simply Wall St -

How Does Pasal Real Estate Development SA (ATH:PASAL) Affect Your Portfolio Volatility?

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

One Thing To Consider Before Buying Pasal Real Estate Development SA (ATH:PASAL)

For Pasal Real Estate Development SA’s (ATH:PASAL) shareholders, and also potential investors in the stock, understanding how the stock’s risk and return characteristics can impact your portfolio is important. … The second risk is market-wide, which arises from investing in the stock market. … A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one.

Simply Wall St -

Should You Be Holding Pasal Real Estate Development SA. (ATH:PASAL) Right Now?

For Pasal Real Estate Development SA.’s (ATSE:PASAL) shareholders, and also potential investors in the stock, understanding how the stock’s risk and return characteristics can impact your portfolio is important. … See our latest analysis for Pasal Real Estate Development What is PASAL’s market risk? … Pasal Real Estate Development’s beta of 0.68 indicates that the company is less volatile relative to the diversified market portfolio.

Simply Wall St -

PASAL Company Info

Description

Pasal Real Estate Development S.A., a real estate development company, invests in and develops real estate properties. Its property portfolio includes commercial properties, including shopping malls and store buildings, as well as logistics centers, such as warehouses and distribution centers. The company was founded in 1991 and is based in Heraklion, Greece.

Details
Name: Pasal Real Estate Development S.A.
PASAL
Exchange: ATSE
Founded: 1991
€1,347,114
14,967,940
Website: http://www.pasal.gr
Address: Pasal Real Estate Development S.A.
Precast 6,
Heraklion,
141 22,
Greece
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ATSE PASAL Registered Shares The Athens Stock Exchange GR EUR 04. Jan 2008
DB 3FD Registered Shares Deutsche Boerse AG DE EUR 04. Jan 2008
LSE 0MQU Registered Shares London Stock Exchange GB EUR 04. Jan 2008
Number of employees
Current staff
Staff numbers
0
Pasal Real Estate Development employees.
Industry
Real Estate Operating Companies
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/01 02:33
End of day share price update: 2020/03/26 00:00
Last earnings filing: 2019/09/30
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.