Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Varia US Properties AG is a Switzerland-based real estate investment company founded in 2015 and headquartered in Zug. It specializes in acquiring, holding, and selling multifamily housing properties exclusively in the United States, with a primary focus on low-moderate income and workforce housing in secondary and tertiary markets. The company's portfolio targets affordable residential real estate, generating revenue primarily from rental income, as evidenced by its trailing twelve-month figures showing CHF 90.76 million in revenue and a gross margin of 51.36%. Varia US Properties AG plays a significant role in the real estate sector by providing Swiss investors targeted exposure to the stable U.S. multifamily market, emphasizing properties that serve essential housing needs for working populations. Notable for its ESG commitments, including partnerships like the Arbor Day Foundation and improvements in GRESB scores through asset management collaborations, it maintains a high debt-to-equity ratio of 218.1%, reflecting a leveraged investment approach typical in real estate. Listed since 2016 with an initial market capitalization of CHF 229 million, Varia US Properties AG contributes to diversified real estate investment strategies amid fluctuating market conditions.
37.47% operating margin is above average. ROIC at 2.87%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue declined 9.4% YoY. Margins deteriorated 4.2pp alongside, both lines moving the wrong way.
Net debt of $561M represents 28.7x FCF, leverage limits flexibility. Operating margin contracted 4.2pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$95M
▼ -9.4% YoY
Net Income (TTM)
-$29M
▼ -81.3% YoY
Op. Margin
36.20%
▼ -4.2pp YoY
ROIC
2.87%
▼ -0.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$21M
▼ -3.5% YoY
Op. Cash Flow (TTM)
$46M
▼ -18.2% YoY
Net Debt
$561M
Cash & Equiv.
$22M
3Y CAGR: -8.1%
3Y CAGR: +23.2%
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