Phoenix Spree Deutschland Ltd (PSDL) AI Stock Analysis

• Market Cap: £159.78M
• Dividend Yield: N/A
• Average Volume (3M): 31.01K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.57
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: UK
• Employees: N/A
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): -0.06
• Shares Outstanding: 91,827,360
• 10 Day Avg. Volume: 27,346
• 30 Day Avg. Volume: 31,014
• PEG Ratio: 0.08
• Price to Book (P/B): 0.68
• Price to Sales (P/S): -9.28
• P/FCF Ratio: 18.41
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.83
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: 169.00p ▲(0.30% Upside)

The score is held back primarily by weak financial performance—multiple years of losses, volatile revenue, and a gradually weakening balance sheet—partly offset by positive recent free cash flow. Technicals are moderately supportive with a mild upward trend and neutral momentum, while valuation cannot be meaningfully assessed due to missing P/E and dividend yield data.

Phoenix Spree Deutschland Ltd Business Overview & Revenue Model

Company Description

Phoenix Spree Deutschland Limited is an real estate investment firm. It specializes it's investments in mid-market. It prefers to invests in residential, commercial and apartment buildings. The fund focuses on Germany, particularly Berlin.

How the Company Makes Money

Phoenix Spree Deutschland Ltd Financial Statement Overview

Summary

Profitability has deteriorated materially with multiple years of net losses (2022–2024) and highly volatile revenue including a sharp decline in 2024. The balance sheet remains supported by meaningful equity but has weakened as equity and assets contracted and leverage rose toward ~1.0 debt-to-equity. Operating cash flow/free cash flow are positive in 2023–2024, providing some stabilization, but variability and weaker earnings keep the profile below average.

Income Statement

Earnings quality has deteriorated materially: the company swung from solid profitability in 2020–2021 (positive net income) to sizable losses in 2022–2024, with 2024 net income at -38.9m. Revenue has also become highly volatile, including a sharp decline in 2024 (revenue growth -172.8% vs. 2023). While margins appear distorted by the revenue sign (e.g., net profit margin > 100%), the absolute trend is clear—weak profitability and unstable top-line performance are the key negatives.

Balance Sheet

Leverage is meaningful but not extreme for the sector: debt-to-equity is ~1.0 in 2023–2024 (0.97 in 2024), up from lower levels in 2020–2022. The balance sheet has weakened as equity declined (from ~440.0m in 2021 to ~276.2m in 2024) alongside shrinking assets (from ~826.3m in 2021 to ~612.5m in 2024). Negative returns on equity in 2022–2024 further pressure balance-sheet quality, though the company still retains a sizable equity base.

Cash Flow

Cash generation is a relative bright spot: operating cash flow and free cash flow are positive in 2023 and 2024 (free cash flow ~10.2m in 2024). However, cash flow momentum is mixed—free cash flow fell ~35% in 2024 and was sharply negative in 2022 (-11.5m). Importantly, cash flow has recently held up despite accounting losses (free cash flow roughly matches net income in 2023–2024 in the provided data), but the variability limits the score.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	24.95M	-20.24M	-90.59M	25.93M	25.79M	23.90M
Gross Profit	24.95M	-20.24M	-90.59M	25.93M	25.79M	23.90M
EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Net Income	-26.25M	-38.90M	-98.11M	-15.44M	37.31M	29.79M
Balance Sheet
Total Assets	583.06M	612.51M	709.03M	815.33M	826.27M	817.54M
Cash, Cash Equivalents and Short-Term Investments	21.09M	46.52M	11.00M	12.48M	10.44M	37.00M
Total Debt	244.17M	267.45M	321.24M	312.08M	294.12M	304.73M
Total Liabilities	312.33M	334.97M	391.40M	398.94M	382.64M	383.59M
Stockholders Equity	269.37M	276.17M	315.07M	413.18M	440.04M	430.43M
Cash Flow
Free Cash Flow	3.90M	10.20M	6.79M	-11.54M	7.99M	6.74M
Operating Cash Flow	3.92M	10.25M	6.85M	1.69M	7.99M	6.74M
Investing Cash Flow	36.89M	45.13M	-7.73M	-8.18M	4.30M	-2.85M
Financing Cash Flow	-37.97M	-19.86M	-606.00K	8.53M	-38.84M	-9.30M

Phoenix Spree Deutschland Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SRE	77 Outperform	£1.48B	8.36	12.51%	5.71%	4.80%	37.75%
PNS	76 Outperform	£50.33M	7.03	6.15%	3.92%	-6.10%	889.93%
MTVW	68 Neutral	£350.91M	16.26	5.35%	5.88%	-6.52%	-20.26%
GRI	67 Neutral	£1.43B	7.08	10.30%	3.62%	-8.66%	553.35%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
HLCL	55 Neutral	£237.37M	9.46	6.07%	2.71%	-14.09%	―
PSDL	51 Neutral	£159.78M	―	―	―	―	―

Phoenix Spree Deutschland Ltd Corporate Events

Phoenix Spree Deutschland Beats 2025 Condo Sales Target and Sets Out Capital Return Plan

Phoenix Spree Deutschland has reported condominium sales of €36m for 2025, materially ahead of its €30m target, with a record month in December and average prices of €4,132 per sqm, exceeding balance sheet carrying values and highlighting resilient demand, particularly for vacant units. Supported by a recent full debt refinancing and an expanded broker panel, the company plans to grow its condominium sales pipeline, targets at least €55m of notarisations in 2026, and will begin returning capital to shareholders in 2026 via compulsory pro-rata redemptions funded by net sale proceeds, marking a key step in executing its managed wind-down and realisation strategy.

The most recent analyst rating on (GB:PSDL) stock is a Hold with a £169.00 price target. To see the full list of analyst forecasts on Phoenix Spree Deutschland Ltd stock, see the GB:PSDL Stock Forecast page.

Phoenix Spree Deutschland’s Property Advisor Increases Shareholding in Strategic Move

Phoenix Spree Deutschland Limited announced that its Property Advisor, QSix Residential Limited, has purchased an additional 25,399 ordinary shares in the company, fulfilling its commitment to reinvest post-tax proceeds from disposal fees into PSD shares under the PAIR agreement. This recent acquisition brings QSix’s cumulative purchases to 412,146 shares, signaling strong alignment and reinvestment strategy that may bolster investor confidence and underscore the commitment of key stakeholders in the company’s long-term growth strategy.

Phoenix Spree Deutschland Completes Debt Refinancing and Exceeds Sales Targets

Phoenix Spree Deutschland Limited has successfully completed a comprehensive refinancing of its debt facilities, significantly enhancing its financial and operational flexibility. This move supports the company’s strategy to wind down operations and realize assets, with plans to return capital to shareholders through a compulsory pro rata redemption program starting in 2026. The company has exceeded its 2025 condominium sales target, achieving a total of €30.2 million in sales, and plans to expand its condominium sales pool further. The refinancing removes previous restrictions on sales and distributions, allowing for increased sales volume and shareholder distributions, while maintaining a stable capital structure.