Company	Price	Valuation					Profitability					Cash & leverage					Quality				Rating
		P/E	P/B	P/S	EV / EBITDA	DCF upside	Gross margin	Operating margin	Net margin	ROE	ROIC	FCF yield	Debt / equity	Net debt / EBITDA	Interest coverage	Current ratio	Dividend yield	Piotroski (0-9)	Altman Z	Rating score (1-5)
VNA.DEthis companyVonovia SE	€17.23	5.49×	0.74×	4.11×	19.64×	27.7%	50.1%	35.8%	74.8%	13.6%	1.9%	6.4%	1.58×	13.01×	47.26×	0.97×	3.2%	4	0.7	4	A
ADADJ.DEAdler Group S.A.	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ATAT1.DEAroundtown S.A.	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
DWNI.DEDeutsche Wohnen SE	€15.88	7.16×	0.58×	6.09×	18.67×	-1278.2%	0.6%	15.2%	84.9%	8.1%	0.8%	7.1%	0.57×	8.98×	1.28×	0.68×	0.2%	6	0.9	5	A+
GYGYC.DEGrand City Properties S.A.	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
INS.DEInstone Real Estate Group SE	€5.54	7.5×	0.55×	0.81×	5.48×	875.1%	23.1%	3.7%	10.8%	7.3%	0.6%	-9.5%	0.82×	1.56×	0.65×	2.71×	6.5%	7	1.12	4	A+
Peer median	—	7.33×	0.56×	3.45×	12.08×	-201.6%	11.9%	9.5%	47.9%	7.7%	0.7%	-1.2%	0.69×	5.27×	0.96×	1.7×	3.3%	7	1.01	5	—