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"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
Activia Properties does not have enough data to calculate Owner Earnings per Share (TTM), so as Price-to-Owner-Earnings ratio.
The historical rank and industry rank for Activia Properties's Owner Earnings per Share (TTM) or its related term are showing as below:
FRA:7ZY'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 6.17 Med: 51.41 Max: 79.72
Current: 45.7
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by FactSet. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
Activia Properties Owner Earnings per Share (TTM) Related Terms
Activia Properties Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for Activia Properties's Owner Earnings per Share (TTM) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Activia Properties Owner Earnings per Share (TTM) Chart
FRA:7ZY vs VICI, WPC: Owner Earnings per Share (TTM) Comparison
For the REIT - Diversified subindustry, Activia Properties's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Activia Properties Price-to-Owner-Earnings vs REITs Industry
For the REITs industry and Real Estate sector, Activia Properties's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Activia Properties's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
What does a Owner Earnings per Share (TTM) of 15.86 mean?
Activia Properties (FRA:7ZY) has a Owner Earnings per Share (TTM) of 15.86 as of Nov. 2025. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Activia Properties. According to the industry distribution chart, Activia Properties ranks #306 out of 336 companies in the REITs industry, placing it in the top 91.1%.
Is Activia Properties' Owner Earnings per Share (TTM) too high?
Activia Properties' current Owner Earnings per Share (TTM) is 15.86. The REITs industry median Owner Earnings per Share (TTM) is 13.20. Activia Properties' value of 15.86 is 20.2% above this industry median. Based on the distribution chart, Activia Properties ranks #306 out of 336 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Activia Properties has a GF Score™ of 68/100, reflecting its overall financial health beyond just this single metric.
How does Activia Properties' Owner Earnings per Share (TTM) compare to VICI and WPC?
According to the REITs industry distribution chart, Activia Properties ranks #306 out of 336 companies for Owner Earnings per Share (TTM). This places Activia Properties in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 13.20. Activia Properties' value of 15.86 is 20.2% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Owner Earnings per Share (TTM) for a REITs company?
The median Owner Earnings per Share (TTM) among REITs companies is 13.20, based on 336 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Activia Properties's current Owner Earnings per Share (TTM) of 15.86 is 20.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Activia Properties. For the REITs industry, the median Owner Earnings per Share (TTM) is 13.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Activia Properties's current Owner Earnings per Share (TTM) is 15.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Activia Properties stock overvalued right now?
Activia Properties (FRA:7ZY) has a current Owner Earnings per Share (TTM) of 15.86. The stock's GF Value™ is €753.25, compared to a current price of €715.00 — trading 5.1% below its estimated fair value. The current Owner Earnings per Share (TTM) is 15.86 and 20.2% above the REITs industry median of 13.20. Activia Properties' overall GF Score™ is 68/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Activia Properties (FRA:7ZY), the current Owner Earnings per Share (TTM) is 15.86 as of Nov. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Activia Properties (FRA:7ZY) Overvalued in 2026?
Based on GuruFocus' analysis, Activia Properties stock appears to be undervalued.
The current stock price of €715.00 is trading 5.1% below its estimated GF Value™ of €753.25.
Key valuation signals for FRA:7ZY:
Owner Earnings per Share (TTM): 15.86
GF Value™: €753.25 vs. price of €715.00 (5.1% below fair value)
Industry Position: 20.2% above the REITs median (#306 of 336)
No single metric tells the full story. See the FRA:7ZY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Activia Properties Inc, or API, is a Japanese real estate investment trust principally involved in the ownership of properties in the Greater Tokyo area. The majority of these properties are either urban retail units near train stations, corporate office properties, or other popular areas in Tokyo. API derives the vast majority of its income in the form of rental revenue from its real estate holdings. Its urban retail properties encompass the larger overall share of these holdings. The company's tenants include the Tokyu Land Corporation, a Japanese railway operator. Tokyu Land Corp is also the controlling shareholder of the firm that works with Activia through an asset management agreement, TLC Activia Investment Management Inc.
68GF Score
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Owner Earnings per Share (TTM) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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