PLAZZA AG (PLAN) AI Stock Analysis

PLAZZA AG

(Six Swiss:PLAN)

Select Model

Rating:68Neutral

Price Target:CHF 472.00▲(10.54% Upside)

Action:downgraded

Date:08/04/26

The score is driven primarily by solid financial performance (strong 2025 revenue growth and high reported profitability) but tempered by earnings-quality and cash-flow consistency concerns plus higher leverage than in prior years. Technical signals are somewhat weak (negative MACD, RSI below 50, and price below key short/medium moving averages). Valuation is reasonable with a mid-teens P/E and a ~2.3% dividend yield.

Positive Factors

Strong 2025 revenue accelerationA substantial 2025 revenue acceleration indicates strengthening underlying demand for the company’s rental and development offerings. Durable top-line momentum provides capacity for reinvestment in projects, supports long-term rental growth trajectories, and underpins future earnings generation independent of short-term market swings.

Negative Factors

Marked rise in leverage since 2020A meaningful increase in debt over a few years materially reduces financial flexibility compared with earlier low-leverage levels. Higher leverage raises interest and refinancing risk, constrains ability to fund opportunistic acquisitions or weather real-estate cycles, and makes returns more sensitive to cash-flow variability.

PLAZZA AG (PLAN) vs. iShares MSCI Switzerland ETF (EWL)

Market Cap: CHF 778.30M
Dividend Yield: 2.34%
Average Volume (3M): 1,002
Price to Earnings (P/E): 11.4
Beta (1Y): -0.01
Revenue Growth: 6.29%
EPS Growth: 39.64%
Country: Switzerland
Employees: 22
Sector: General
Sector Strength: 55
Industry: Real Estate - Development

PLAZZA AG Business Overview & Revenue Model

Company Description

Operating across Switzerland, Plazza AG handles the full scope of real estate activities, encompassing strategic planning, development, administration, and sales. The company's diverse property holdings include residential units, commercial facilitie...

How the Company Makes Money

PLAZZA AG primarily makes money through recurring rental income generated by leasing space in its investment property portfolio, with residential rents typically forming the core base of revenue. In addition, it can generate earnings from property de...

PLAZZA AG Financial Statement Overview

Summary

Strong reported results with a sharp 2025 revenue acceleration (+42.6%) and very high profitability, but earnings quality looks less consistent (at times economically atypical margins) and cash alignment with earnings weakened in 2025 (cash flow coverage ~0.35). Balance sheet remains supported by a sizable equity base, though leverage has risen materially (debt up to ~328M; ~0.42 debt-to-equity).

Income Statement

86Very Positive

Balance Sheet

74Positive

Cash Flow

63Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	40.56M	40.11M	33.42M	28.92M	28.27M	26.95M
Gross Profit	36.51M	39.21M	30.57M	25.24M	26.13M	26.14M
EBITDA	96.42M	75.86M	62.05M	21.21M	20.41M	20.59M
Net Income	77.53M	60.70M	50.70M	18.27M	23.60M	71.94M
Balance Sheet
Total Assets	1.36B	1.29B	1.15B	1.02B	953.52M	890.76M
Cash, Cash Equivalents and Short-Term Investments	2.09M	1.31M	34.49M	1.51M	1.98M	2.63M
Total Debt	367.33M	327.53M	249.66M	157.60M	94.40M	47.20M
Total Liabilities	555.12M	498.87M	403.11M	308.10M	245.51M	191.86M
Stockholders Equity	809.45M	788.00M	745.93M	711.79M	708.01M	698.90M
Cash Flow
Free Cash Flow	25.97M	27.05M	17.49M	21.46M	17.56M	22.13M
Operating Cash Flow	26.12M	27.20M	17.64M	21.53M	17.59M	22.15M
Investing Cash Flow	-63.02M	-118.06M	-60.16M	-70.71M	-50.95M	-75.31M
Financing Cash Flow	35.84M	57.67M	75.50M	48.71M	32.71M	34.78M

PLAZZA AG Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

CH:PLAN against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CH:PLAN	68Neutral	CHF 883.89M	11.40	9.71%	2.34%	6.29%	39.64%
CH:FREN	66Neutral	CHF 572.56M	13.51	―	3.58%	2.64%	-20.98%
CH:PSPN	63Neutral	CHF 6.97B	15.47	―	2.60%	44.13%	9.13%
CH:SFPN	63Neutral	CHF 346.92M	8.13	―	3.53%	-0.75%	38.54%
CH:NREN	56Neutral	CHF 380.39M	10.97	―	3.88%	5.76%	15.10%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

CH:PLAN and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
CH:PLAN	PLAZZA AG Class A	427.00	36.79	9.43%
CH:PSPN	PSP Swiss Property AG	151.90	15.72	11.54%
CH:EPH.EUR	EPH European Property Holdings Limited	15.30	-6.70	-30.45%
CH:NREN	Novavest Real Estate AG	37.40	-1.15	-2.98%
CH:FREN	Fundamenta Real Estate AG	16.75	0.15	0.92%
CH:SFPN	SF Urban Properties AG	103.50	8.52	8.97%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 04, 2026

PLAZZA AG AI Stock Analysis