SHUR Stock Analysis: Shurgard Self Storage | BR
REIT - Specialty | BR, Belgium | Market Cap: 2.388m EUR | 12M Return: -24.4% | GG00BQZCBZ44 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.15M
EPS Trend: 70.4%
Qual. Beats: 0
Rev. Trend: 88.6%
Warnings
Tailwinds
No distinct edge detected
Seasonality 7.9 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Shurgard Self Storage SA is a Luxembourg-based real estate company that acquires, develops, and operates self-storage facilities serving both business and personal customers across seven European countries: France, the Netherlands, the United Kingdom, Sweden, Germany, Belgium, and Denmark. Founded in 1995, the company operates 267 facilities totaling approximately 1.4 million net rentable square meters. In addition to rental units, Shurgard provides ancillary services including the sale of storage supplies (such as locks, boxes, and packing materials) and merchandise protection through an independent insurance partner covering customers stored goods.
The company is classified within the Real Estate Operating Companies sub-industry and trades on the Brussels Stock Exchange under the ticker SHUR. As a self-storage operator, Shurgards business model is built on recurring rental income, with revenue driven primarily by occupancy rates and pricing per square meter, supported by relatively low ongoing operational costs compared with traditional commercial or residential real estate.
- Same-store revenue growth accelerates across European portfolio
- Acquisition pipeline expands net rentable square meters in Western Europe
- Interest rate environment pressures REIT financing costs and yields
| Net Income: 312.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -2.72 > 1.0 |
| NWC/Revenue: -1.64% < 20% (prev -2.70%; Δ 1.07% < -1%) |
| CFO/TA 0.03 > 3% & CFO 189.5m > Net Income 312.7m |
| Net Debt (1.87b) to EBITDA (452.5m): 4.12 < 3 |
| Current Ratio: 0.93 > 1.5 & < 3 |
| Outstanding Shares: last quarter (101.6m) vs 12m ago 3.61% < -2% |
| Gross Margin: 61.90% > 18% (prev 38.00%; Δ 23.90% > 0.5%) |
| Asset Turnover: 6.33% > 50% (prev 3.15%; Δ 3.18% > 0%) |
| Interest Coverage Ratio: 8.40 > 6 (EBIT TTM 446.4m / Interest Expense TTM 53.1m) |
| A: -0.00 (Total Current Assets 99.3m - Total Current Liabilities 106.8m) / Total Assets 7.42b |
| B: 0.48 (Retained Earnings 3.59b / Total Assets 7.42b) |
| C: 0.06 (EBIT TTM 446.4m / Avg Total Assets 7.25b) |
| D: 1.58 (Book Value of Equity 4.54b / Total Liabilities 2.88b) |
| Altman-Z'' = 3.64 = AA |
| DSRI: 0.46 (Receivables 28.5m/30.4m, Revenue 458.8m/223.1m) |
| GMI: 0.61 (GM 38.00% / 61.90%) |
| AQI: 0.01 (AQ_t 0.01 / AQ_t-1 0.97) |
| SGI: 2.06 (Revenue 458.8m / 223.1m) |
| TATA: 0.02 (NI 312.7m - CFO 189.5m) / TA 7.42b) |
| Beneish M = -3.65 (Cap -4..+1) = AAA |
As of September 27, 2026, the stock is trading at EUR 23.30 with a total of 94,473 shares traded. Over the past week, the price has changed by -1.48%, over one month by -1.89%, over three months by -8.63% and over the past year by -24.40%.
Current recommended Stop Loss: 22.40 (which is 3.9% or 1.7 ATR below the current price).
Shurgard Self Storage has no consensus analysts rating.
P/E Trailing = 7.6537
P/E Forward = 13.986
P/S = 5.221
P/B = 0.5266
Revenue TTM = 458.8m EUR
EBIT TTM = 446.4m EUR
EBITDA TTM = 452.5m EUR
Long Term Debt = 1.63b EUR (from longTermDebt, last quarter)
Short Term Debt = 6.56m EUR (from shortTermDebt, last quarter)
Debt = 1.94b EUR (from shortLongTermDebtTotal, last quarter) + Leases 150.7m
Net Debt = 1.87b EUR (calculated: Debt 1.94b - CCE 70.2m)
Enterprise Value = 4.25b EUR (2.39b + Debt 1.94b - CCE 70.2m)
Interest Coverage Ratio = 8.40 (Ebit TTM 446.4m / Interest Expense TTM 53.1m)
EV/FCF = 13.20x (Enterprise Value 4.25b / FCF TTM 322.1m)
FCF Yield = 7.57% (FCF TTM 322.1m / Enterprise Value 4.25b)
FCF Margin = 70.22% (FCF TTM 322.1m / Revenue TTM 458.8m)
Net Margin = 68.16% (Net Income TTM 312.7m / Revenue TTM 458.8m)
Gross Margin = 61.90% ((Revenue TTM 458.8m - Cost of Revenue TTM 174.8m) / Revenue TTM)
Gross Margin QoQ = 58.39% (prev 65.42%)
Tobins Q-Ratio = 0.57 (Enterprise Value 4.25b / Total Assets 7.42b)
Interest Expense / Debt = 2.75% (Interest Expense 53.1m / Debt 1.94b)
Taxrate = 20.07% (78.9m / 393.3m)
NOPAT = 356.8m (EBIT 446.4m * (1 - 20.07%))
Current Ratio = 0.47 (Total Current Assets 99.3m / Total Current Liabilities 213.3m)
Debt / Equity = 0.43 (Debt 1.94b / totalStockholderEquity, last quarter 4.54b)
Debt / EBITDA = 4.12 (Net Debt 1.87b / EBITDA 452.5m)
Debt / FCF = 5.79 (Net Debt 1.87b / FCF TTM 322.1m)
Total Stockholder Equity = 4.34b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.31% (Net Income 312.7m / Total Assets 7.42b)
RoE = 7.20% (Net Income TTM 312.7m / Total Stockholder Equity 4.34b)
RoCE = 7.47% (EBIT 446.4m / Capital Employed (Equity 4.34b + L.T.Debt 1.63b))
RoIC = 4.82% (NOPAT 356.8m / Invested Capital 7.40b)
WACC = 4.62% (E(2.39b)/V(4.32b) * Re(6.59%) + D(1.94b)/V(4.32b) * Rd(2.75%) * (1-Tc(0.20)))
Discount Rate = 6.59% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 89.80 | Cagr: 4.81%
[DCF] Terminal Value 73.10% ; FCFF base≈393.2m ; Y1≈344.8m ; Y5≈278.6m
[DCF] Fair Price = 25.82 (EV 4.47b - Net Debt 1.87b = Equity 2.61b / Shares 101.0m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 70.43 | EPS CAGR: 52.87% | SUE: 0.0 | # QB: 0
Revenue Correlation: 88.62 | Revenue CAGR: 10.01% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=1.65 | Chg30d=-4.84% | Revisions=-79% | GrowthEPS=-4.8% | GrowthRev=+3.7%
EPS next Year (2027-12-31): EPS=1.71 | Chg30d=-6.66% | Revisions=-80% | GrowthEPS=+3.9% | GrowthRev=+5.5%
[Analyst] Revisions Ratio: -88% (up=0, down=23)