Varia US Properties is a Swiss-listed owner of US commercial real estate, and its income rests on rent collected from office and mixed-use assets rather than on any services business the sector label might suggest. The company's edge is a concentrated, hands-on portfolio in a small number of US markets, which lets it run assets directly, though that concentration cuts both ways. Revenue fell 23.9% over the period in the data, so the near-term story is about stabilising the top line, and we have no catalyst date or occupancy figure in hand to say when that happens. At a 116M CHF market cap, a 34.7% operating margin sits alongside a negative 11.7% return on equity, and forward earnings are priced at 13.7 times, which suggests the market expects the margin to hold while the revenue base shrinks. That gap between a strong operating margin and a shrinking top line is the question worth taking to the balance sheet and lease schedule before anything else.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:53 CEST | ACCE price target | CHF 11.50 | first publication | CHF 11.50 |
Answered from Varia US Properties AG fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| VARN.SW Varia US Properties AG | CHF 11.30 | - | - | - | -11.7% | 46 | 27 |
| ZOFRI.SN Zona Franca de Iquique S.A | CLP 1010.00 | - | - | 12.0x | 28.0% | 90 | 53 |
| PAZ.SN Paz Corp | CLP 1030.70 | - | - | 16.8x | 6.8% | 54 | 62 |
| LOGI-B.ST Logistea AB (publ) | kr 14.08 | kr 14 | 3% below | 8.1x | 10.3% | 76 | 59 |
| PLAZ-B.ST Platzer Fastigheter Holding AB (publ) | kr 62.60 | kr 70 | 11% below | 9.2x | 6.2% | 76 | 58 |
| SLP-B.ST Swedish Logistic Property AB | kr 34.10 | kr 27 | 26% above | 12.4x | 11.2% | 76 | 59 |
| SBB-D.ST Samhällsbyggnadsbolaget i Norden AB (publ) | kr 6.15 | - | - | 87.9x | 2.7% | 49 | 29 |
Where VARN.SW ranks against its sector peers on each metric.