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German residential real-estate company owning rental apartments across Germany and residential development in Poland.
German residential real-estate company owning rental apartments across Germany and residential development in Poland.
Rents mostly lower-priced apartments in eastern and northern German cities, so it earns steady rent plus a margin from upgrading flats and reletting at new rents. Its Polish arm builds apartments for sale, a cyclical side that differs from the rent income.
In one line: A German apartment REIT similar to LEG Immobilien.
Moat: narrow (scale, installed base). Diversified regional apartment portfolio, but rent regulation and high leverage limit pricing power and flexibility.
Headquarters: Hamburg, Germany · Founded: 2001 · Employees: 1,922
Size TAG Immobilien (TEG.DE) is a Germany Real Estate company (Real Estate Development) with a market value of $2.51B, the 98th largest of 205 Germany companies the cockpit tracks. Shares closed at €11.77 on 6 Nov 2026.
Performance Over six months the shares fell 19.6%, against -6.3% for the median peer and +2.6% for the Germany market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue fell 5.0% over the last twelve months (peer median +7.3%); the operating margin is 30.8% (peer median 31.2%).
Valuation It trades at 10.1× forward earnings against a peer median of 15.8× (4th cheapest of 18).
Credit TAG Immobilien has 3 bonds outstanding ($1.48B), rated BBB by the agencies and trading like BBB- at a weighted spread of 152 bp.
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €979M | €974M | €1.09B | €1.34B | €960M |
| Revenue growth | — | -10% | -19% | +39% | — |
| Gross profit | €453M | €433M | €407M | €401M | €354M |
| EBITDA | €316M | €305M | €292M | €294M | €252M |
| Net income | €54.9M | €93.4M | €121M | -€397M | €113M |
| Free cash flow | €174M | €215M | €132M | €286M | €125M |
| Capital expenditure | €17.3M | €18.1M | €11.5M | €7.16M | €8.64M |
| Total debt | €4.18B | €4.33B | €3.76B | €3.32B | €3.82B |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| TAG Immobilien TEG.DE | $2.51B | -20% | -5% | 31% | 10.1× | n/a |
| Vonovia VNA.DE | $16.1B | -24% | -17% | 40% | 9.4× | n/a |
| LEG Immobilien LEG.DE | $4.39B | -11% | +1% | 34% | 8.1× | n/a |
| Grand City Properties GYC.DE | $1.42B | -19% | +2% | 55% | 5.3× | n/a |
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.
| Measure | TEG.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.8% | +0.8% | 2nd highest of 21 |
| 6-month return | -19.6% | -6.3% | 7th lowest of 20 |
| Distance from 52-week high | -29.9% | -24.9% | 7th lowest of 21 |
| Revenue growth (TTM) | -5.0% | +7.3% | 4th lowest of 20 |
| Operating margin | 30.8% | 31.2% | 10th lowest of 20 |
| Forward P/E | 10.1× | 15.8× | 4th cheapest of 18 |
| Bond spread | 152 bp | 164 bp | tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TAG Immobilien TEG.DE | Germany | $2.51B | -20% | -5% | 31% | 10.1× | n/a | n/a |
| Savills SVS.L | United Kingdom | $2.56B | +37% | +7% | 5% | 13.4× | n/a | n/a |
| Wallenstam WALL-B.ST | Sweden | $2.57B | -2% | +2% | 60% | 19.3× | n/a | n/a |
| Highwealth Construction 2542.TW | Taiwan | $2.42B | -5% | +111% | 25% | 4.3× | n/a | n/a |
| Eaglerock Land LLC EROK | United States | $2.60B | n/a | n/a | n/a | 29.6× | n/a | n/a |
| Catena CATE.ST | Sweden | $2.61B | -11% | +17% | 82% | 13.4× | n/a | n/a |
| Greenland 600606.SS | China | $2.66B | -20% | -30% | -12% | 63.0× | n/a | n/a |
| Vantone Neo Development 600246.SS | China | $2.69B | -14% | +22% | -152% | n/a | n/a | n/a |
| Shenzhen Special Economic Zone Real Estate and Properties (Group) 000029.SZ | China | $2.73B | -6% | -24% | 14% | n/a | n/a | n/a |
| Relo 8876.T | Japan | $2.30B | +21% | +7% | 20% | 15.5× | n/a | n/a |
| Wihlborgs Fastigheter WIHL.ST | Sweden | $2.28B | -14% | +7% | 70% | 10.8× | n/a | n/a |
| Investis IREN.SW | Switzerland | $2.26B | -2% | +10% | 67% | 32.9× | n/a | n/a |
| Frasers Property TQ5.SI | Singapore | $2.80B | -20% | -21% | 29% | 26.8× | n/a | n/a |
| Onewo 2602.HK | Hong Kong | $2.84B | +6% | +8% | 3% | 20.6× | n/a | n/a |
| Green Development Electricity Group of Tianjin 000537.SZ | China | $2.19B | -28% | +13% | 31% | 37.3× | n/a | n/a |
| Hysan Development 0014.HK | Hong Kong | $2.16B | -20% | -2% | 72% | 7.5× | n/a | n/a |
| Newmark NMRK | United States | $2.16B | -29% | +16% | 7% | 6.1× | n/a | n/a |
| Hang Lung 0010.HK | Hong Kong | $2.14B | -25% | +9% | 53% | n/a | n/a | n/a |
| Lumo Homes LUMO.HE | Finland | $2.14B | -3% | +1% | 59% | 15.8× | n/a | n/a |
| Sirius Real Estate SRE.L | United Kingdom | $2.14B | +1% | +13% | 41% | 13.6× | n/a | n/a |
| Hufvudstaden HUFV-A.ST | Sweden | $2.14B | -5% | -4% | 47% | 20.9× | n/a | n/a |
TAG Immobilien has 3 bonds outstanding with $1.48B face value. The agencies rate it BBB; its bonds trade like BBB-. Weighted yield 4.52%, a spread of 152 bp over government bonds.