REA Group Ltd

REA: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$496.00	Mxp	Fsrvvvp

REA Group Results: Strength in Australia not Repeated in India

Roy Van Keulen

Feb 8, 2024

We increase our fair value estimate for wide moat REA Group by 2% to AUD 112.50 following first-half results. Results were broadly in line with our expectations, with Australian residential tracking for a bumper year and REA India continuing to incur heavy losses. Our fair value increase is driven by the time value of money. At current prices, REA shares continue to screen as materially overvalued.

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