Fact based stock research
Property For Industry Limited (NZSE:PFI)

NZPFIE0001S5

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Property For Industry Limited stock research in summary

propertyforindustry.co.nz

ANALYSIS: With an Obermatt Combined Rank of 28 (worse than 72% compared with investment alternatives), Property For Industry Limited (REITs: Industrials, New Zealand) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Property For Industry Limited are low in value (priced high) with a consolidated Value Rank of 13 (worse than 87% of alternatives), show below-average growth (Growth Rank of 32), and are riskily financed (Safety Rank of 21), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 28, is a hold recommendation based on Property For Industry Limited's financial characteristics. As the company Property For Industry Limited's key financial metrics all exhibit below-average performance, such as low value (Obermatt Value Rank of 13), low growth (Obermatt Growth Rank of 32), and risky financing practices (Obermatt Safety Rank of 21), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. Such poor financial performance sometimes indicates that the company's business is all concentrated in some distant future. This is sometimes the case for high-tech or biotechnology companies. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and risky today. In such cases, the Obermatt Method has limited value as it is based on facts we can observe today. If the facts are all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that should only amount to a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	13
Growth Rank	32
Safety Rank	21
Combined Rank	28

Country	New Zealand
Industry	REITs: Industrials
Index	NZSX 50
Size class	X-Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Property For Industry Limited

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	29	34	25	13
GROWTH
GROWTH	7	59	43	32
SAFETY
SAFETY	26	42	23	21
SENTIMENT
SENTIMENT	16	16	6	^new
360° VIEW
360° VIEW	1	20	8	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Property For Industry Limited is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	29	34	25	13
GROWTH
GROWTH	7	59	43	32
SAFETY
SAFETY	26	42	23	21
COMBINED
COMBINED	6	48	15	28

Last update of combined financial performance: 24-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Property For Industry Limited the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 13 (worse than 87% compared with alternatives), Property For Industry Limited shares are significantly more expensive than comparable stocks. The Value Rank is based on consolidating four value indicators where three out of four are below average for Property For Industry Limited. Only the Price-to-Book Capital ratio (also referred to as market-to-book ratio) indicates good stock value with a Price-to-Book Rank of 67, which means that the stock price is lower compared with invested capital than for 67% of comparable investments. All other value indicators are below the market median. Price-to-Sales is 13 which means the stock price compared with what market professionals expect for future profits is higher than 87% of comparable companies, indicating a low value concerning Property For Industry Limited's revenue levels. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Book Rank of 67 and for the dividend yields rank which is lower than for 99% of comparable companies, making the stock more expensive as regards to with the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 13, is a sell recommendation based on Property For Industry Limited's stock price compared with the company's operational size and dividend yields. Why are market participants paying such a high price for Property For Industry Limited, where three out of four value indicators are below par? One reason could be that the company is well financed, indicated by the high book capital level, and has a promising future that is not yet visible in reported revenues and profits. That would also explain the low dividend yield because the company needs the cash to invest in its future. If investors can verify a picture in this sense, the stock may still be a good investment, even though current company-reported financials don't fully explain current stock prices. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	9	12	10	13
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	10	12	16	16
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	77	82	81	67
DIVIDEND YIELD
DIVIDEND YIELD	44	46	51	1
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	29	34	25	13

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Property For Industry Limited; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 32 (better than 32% compared with alternatives), Property For Industry Limited shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Property For Industry Limited. Profit Growth has a rank of 99, which means that currently professionals expect the company to grow its profits more than 99% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 57 (above 57% of alternative investments). But Sales Growth has a below the median rank of 1, which means that, currently, professionals expect the company to grow less than 99% of its competitors, and Capital Growth also has a lower rank of 44. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 32, is a hold recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for Property For Industry Limited. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	35	34	39	1
PROFIT GROWTH
PROFIT GROWTH	23	100	98	99
CAPITAL GROWTH
CAPITAL GROWTH	17	41	10	44
STOCK RETURNS
STOCK RETURNS	35	33	33	57
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	7	59	43	32

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Property For Industry Limited.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 21 (better than 21% compared with alternatives), the company Property For Industry Limited has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Property For Industry Limited is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Property For Industry Limited and the other two below average. Leverage is at a rank of 61 meaning the company has a below-average debt-to-equity ratio. It has less debt than 61% of its competitors.Refinancing is at a rank of 13, which means that the portion of the debt about to be refinanced is above-average. It has more debt in the refinancing stage than 87% of its competitors. Liquidity is at a rank of 36, meaning that the company generates less profit to service its debt than 64% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 21 (worse than 79% compared with alternatives), Property For Industry Limited has a financing structure that is significantly riskier than that of its competitors. This is an indication that the company is on the riskier side when it comes to debt service. There is only below-market average liquidity, and a short-term refinancing issue might be around the corner. But in the long-term, the debt levels of Property For Industry Limited are on the safer side. Investors may have a short-term debt challenge and liquidity issues with Property For Industry Limited and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	57	66	57	61
REFINANCING
REFINANCING	20	23	1	13
LIQUIDITY
LIQUIDITY	37	48	48	36
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	26	42	23	21

Last update of Safety Rank: 24-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Property For Industry Limited and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	3	1	^new
OPINIONS CHANGE
OPINIONS CHANGE	13	83	50	^new
PRO HOLDINGS
PRO HOLDINGS	55	22	36	^new
MARKET PULSE
MARKET PULSE	88	53	7	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	16	16	6	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Property For Industry Limited.
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