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VARN.SW$13.80+15.65%
Fair $13.80+0.0%

VARN.SW

Varia US Properties AG

Real Estate / Real Estate ServicesSwiss

$13.80

+2.05 (+15.65%)

Fairly Valued+0.0%Fair Value $13.80Fund rank 25/100 · Data gapFallback financials|
SA 11/F
F-Score: 5/9
Declining RevenueLow Profitability

Book/ROE base 3Y

n/d

n/d CAGR · P/B n/d

Book/ROE base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 100% · confianza 20%

Book/ROE escenarios

weak_data · book/share n/d · quality 0.0/100

Data gap 25/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 41/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

11/100

F

Piotroski

5/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 2unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Sector-specific NAV/AFFO model required: REIT/real-estate targets are disabled until FFO/AFFO/NAV/cap-rate data exists. REIT NAV/AFFO valuation requires positive AFFO/share history or TTM AFFO/share; generic FCF remains disabled. Revenue has declined for 3 consecutive years ROE is -9.8%, below the 5% threshold
Thesis & Journal · VARN.SWLocal privado en este navegador · Varia US Properties AG
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$140M

P/E

N/A

•

EV/EBITDA

N/A

•

ROE

-9.8%

↓

Gross Margin

67.0%

↑

Debt/Equity

1.81

↑
52-Week Range$14
$12$22

TradingView lightweight chart

VARN.SW price, volumen y niveles de valoración

Último $15.15Periodo -57.5%
Fair value: $13.80

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2022–2025 · 3 años de histórico normalizado

Revenue CAGR

-8.1%

FCF CAGR

+23.2%

FCF margin

19.9%

FCF / Net income

-0.62x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $98.3M · net income $-31.8M · FCF $19.6M

2022-FY → 2025-FY

Gross margin

67.0%+8.0% pts

Operating margin

37.5%+3.3% pts

Net margin

-32.3%-129.2% pts

FCF margin

19.9%+11.6% pts
MetricTTM
2025
2024
2023
2022
Income Statement
Revenue$98.3M$98.3M$108.6M$124.0M$126.5M
Net Income$-31.8M$-31.8M$-17.5M$-139.0M$122.6M
EBITDA$-3.9M$-3.9M$18.1M$-133.3M$196.0M
EPS-3.14-3.14-1.73-13.7312.11
Gross Margin67.0%67.0%65.2%56.6%58.9%
Operating Margin37.5%37.5%41.6%32.8%34.2%
Net Margin-32.3%-32.3%-16.1%-112.1%96.9%
Balance Sheet
Debt/Equity1.811.812.162.191.66
Current Ratio1.111.11———
Cash Flow
Free Cash Flow$19.6M$19.6M$20.3M$1.4M$10.5M
Returns
ROE-9.8%-9.8%-4.9%-35.0%20.1%
Valuation
P/E————3.87
EV/EBITDA——56.84—7.20
P/B0.430.430.860.980.78
Growth & Yield
Revenue Growth-9.4%-9.4%-12.4%-2.0%—
EPS Growth-81.5%-81.5%87.4%-213.4%—
Dividend Yield13.7%13.7%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%
Reverse DCF requires positive EPS; loss-making or zero-EPS companies cannot produce a clean EPS hurdle.

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total -4.2%

Total return

-4.2%

Start / end P/E

n/dx → n/dx

EPS bridge

-1.73 → -3.14

Residual

-17.9%

EPS growthn/d
Multiple reratingn/d
Dividend+13.7%
Residual / FX / buybacks / cross-term-17.9%

EPS/multiple decomposition requires positive EPS at both endpoints; residual absorbs price move not explained by dividends.

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.