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Ctp N.v.CTPNV.ASCompetitor analysis, valuation and peers

Netherlands · EUR·Real Estate›Real Estate Development

Europe's largest listed logistics/industrial real estate developer and landlord, focused on Central and Eastern Europe.

≈ A European PrologisMomentum weak 28
Mkt cap
$7.43B
US dollars, full cap
Free float
25%
of shares outstanding
$/day
$3.53M
20-day average traded
Fwd P/E
13.0×
forward earnings
ROIC−WACC
n/a
WACC 5.7%
Hurdle
n/a
no reverse DCF
Next earnings
111 days
25 Feb 2027
Close · EUR€13.20
1D-0.9%
1W+6.5%
1M+8.2%
3M-8.5%
6M-18.2%
YTD-26.0%
1Y-27.0%
ATR %2.4%
52w lowhigh32.7% off high

What Ctp does

Europe's largest listed logistics/industrial real estate developer and landlord, focused on Central and Eastern Europe.

Earns rent on mostly euro-denominated leases, usually indexed to inflation, from parks it builds itself on land it holds, then keeps rather than sells, so development gains flow into reported profit. The Czech Republic, its home market, is the largest. Founder and chief executive Remon Vos holds a controlling stake.

In one line: A European Prologis.

Products and services

  • Logistics/warehouse parks
  • Light industrial/manufacturing space
  • Build-to-suit development

Customers

  • E-commerce/logistics operators
  • Manufacturers
  • Automotive supply chain tenants

Where it sits in the supply chain

  • Real estate
  • Industrial/logistics real estate
  • Development, ownership & leasing of…

What could go right

  • Nearshoring of manufacturing to CEE
  • E-commerce logistics space demand

What could go wrong

  • Interest rate sensitivity (REIT valuations)
  • CEE economic/geopolitical risk

Moat: narrow (scale, installed base, cost advantage). Large land bank and in-house development platform across CEE give a low-cost, first-mover position.

Headquarters: Amsterdam, Netherlands · Founded: 1998 · Employees: 951

Named competitors

  • Prologis PLD
  • Segro SGRO.L
  • P3 Logistic Parks (private) private or unlisted
  • VGP private or unlisted
  • Warehouses De Pauw WDP.PA
  • Tritax Big Box REIT private or unlisted
  • Montea private or unlisted

Ctp at a glance

Size Ctp (CTPNV.AS) is a Netherlands Real Estate company (Real Estate Development) with a market value of $7.43B, the 25th largest of 61 Netherlands companies the cockpit tracks. Shares closed at €13.20 on 6 Nov 2026.

Performance Over six months the shares fell 18.2%, against +1.2% for the median peer and +0.4% for the Netherlands market (cap-weighted) — 4th lowest of 21 in its peer set.

Growth Revenue grew 11.9% over the last twelve months (peer median +6.2%); the operating margin is 66.9% (peer median 33.3%).

Valuation It trades at 13.0× forward earnings against a peer median of 16.1× (7th cheapest of 18).

Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).

Relative performance

809010011 May 202611 Aug 20266 Nov 2026Peer median 102CTPNV.AS 83
Six months, rebased to 100: Ctp against the median of its 20 peers (local-currency closes).

Ctp financials

Reported figures in EUR; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue€1.08B€984M€881M€684M€596M
Revenue growth—+12%+29%+15%—
Gross profit€854M€779M€681M€552M€460M
EBITDA€742M€680M€594M€461M€372M
Net income€539M€1.08B€1.08B€923M€767M
Free cash flow€198M€288M€306M€251M€240M
Capital expenditure€106M€95.0M€34.4M€70.6M€50.3M
Total debt€9.61B€9.28B€8.15B€7.01B€5.92B

Quarterly statements and history in the cockpit →

Ctp competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-20%0%+20%-10%0%+10%+20%PRESTIGE1878DWNICOMP0004SAGA-AO5GPHOENIXLTDOBEROIRLTYFSVBALD-BNRPPSPN3003GODREJPROP6008953289600048000002CTPNV.AS6-month return →1-month return →
Up and to the right = strong over both horizons. Ctp is the large dot.

Fundamentals: revenue growth against valuation

0%+25%+50%+75%20×40×PRESTIGE1878DWNI0004SAGA-APHOENIXLTDOBEROIRLTYFSVNRPPSPN3003GODREJPROP6008953289600048CTPNV.ASRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Ctp is the large dot.

Ctp competitors and peer comparison

Head to head with its named competitors (CTPNV.AS vs PLD vs SGRO.L vs WDP.PA)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Ctp CTPNV.AS$7.43B-18%+12%67%13.0×n/a
Prologis PLD$123B-11%+7%38%39.0×n/a
SEGRO SGRO.L$16.6B+33%+7%69%23.8×n/a
Warehouses De Pauw WDP.PAn/a-13%n/an/an/an/a

How Ctp compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Ctp against its 20 peers (data as of 6 Nov 2026)
MeasureCTPNV.ASPeer medianRank in peer set
1-month return+8.2%+7.9%11th highest of 21
6-month return-18.2%+1.2%4th lowest of 21
Distance from 52-week high-32.7%-14.1%5th lowest of 21
Revenue growth (TTM)+11.9%+6.2%10th highest of 21
Operating margin66.9%33.3%3rd highest of 21
Forward P/E13.0×16.1×7th cheapest of 18

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Ctp CTPNV.ASNetherlands$7.43B-18%+12%67%13.0×n/an/a
Prestige Estates Projects PRESTIGE.NSIndia$7.42B+10%+66%24%38.5×n/an/a
Daito Trust Construction 1878.TJapan$7.10B-7%+6%7%9.7×n/an/a
Deutsche Wohnen DWNI.DEGermany$7.05B-20%0%48%11.0×n/an/a
Compass COMPUnited States$7.84B+17%+68%0%n/an/an/a
Wharf (Holdings) 0004.HKHong Kong$7.92B-32%-1%41%15.7×n/an/a
AB Sagax SAGA-A.STSweden$6.96B+5%+5%78%15.7×n/an/a
Cpi Property O5G.DEGermany$6.85B-1%-8%41%n/an/an/a
Phoenix Mills PHOENIXLTD.NSIndia$8.13B+18%+13%52%52.0×n/an/a
Oberoi Realty OBEROIRLTY.NSIndia$6.66B+4%+16%57%20.0×n/an/a
FirstService FSV.TOCanada$6.46B+18%+3%6%23.6×n/an/a
Fastighets AB Balder BALD-B.STSweden$6.43B-2%+4%66%12.2×n/an/a
NEPI Rockcastle NRP.ASNetherlands$6.34B+9%+20%62%12.1×n/an/a
PSP Swiss Property PSPN.SWSwitzerland$8.73B+5%+44%68%27.9×n/an/a
Hulic 3003.TJapan$9.16B+7%+25%23%11.5×n/an/a
Castellum CAST.STSweden$5.94B+10%-3%67%16.1×n/an/a
Godrej Properties GODREJPROP.NSIndia$5.77B-4%+17%21%24.5×n/an/a
Shanghai Zhangjiang Hi-Tech Park Development 600895.SSChina$5.71B-33%+89%26%36.4×n/an/a
Tokyu Fudosan Holdings Corporat 3289.TJapan$5.69B-7%+6%14%8.6×n/an/a
Poly Developments & 600048.SSChina$10.1B-9%-4%4%48.6×n/an/a
China Vanke 000002.SZChina$5.36B-17%-32%-24%n/an/an/a

Questions

Who are Ctp's main competitors?
Named competitors: Prologis (PLD), Segro (SGRO.L), P3 Logistic Parks (private) (private or unlisted), VGP (private or unlisted), Warehouses De Pauw (WDP.PA), Tritax Big Box REIT (private or unlisted). The cockpit's measured peer set (industry) also includes Prestige Estates Projects (PRESTIGE.NS), Daito Trust Construction (1878.T), Deutsche Wohnen (DWNI.DE), Compass (COMP), Wharf (Holdings) (0004.HK), AB Sagax (SAGA-A.ST).
Is Ctp expensive compared with its peers?
On forward p/e it trades at 13.0× against a peer median of 16.1×, 7th cheapest of 18 in its peer set.
How has Ctp stock performed?
Over six months to 6 Nov 2026 the shares returned -18.2% against +1.2% for the median peer; over one year -27.0%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.