Company Valuation: American Homes 4 Rent

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,583 10,653 13,020 13,827 11,912 12,324 - -
Change - -26.95% 22.22% 6.2% -13.85% 3.45% - -
Enterprise Value (EV) 1 18,415 15,100 17,422 18,638 16,900 17,439 17,697 17,853
Change - -18% 15.38% 6.98% -9.33% 3.19% 1.48% 0.88%
P/E 106x 42.5x 35.6x 34.6x 27.2x 35.3x 44.5x 49.8x
PBR 2.43x 1.64x 1.88x 1.93x 1.67x 2.01x 1.94x 1.96x
PEG - 0.6x 0.8x 4.99x 2.94x -2x -2.1x -4.7x
Capitalization / Revenue 11.2x 7.15x 8.02x 8x 6.44x 6.47x 6.26x 5.94x
EV / Revenue 14.1x 10.1x 10.7x 10.8x 9.13x 9.16x 8.98x 8.61x
EV / EBITDA 27.9x 20.6x 21.5x 20.4x 17.4x 17.2x 16.8x 16.1x
EV / EBIT 64x 45.6x 49.4x 46.5x 36.4x 34.7x 32.8x 30x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.4 0.72 0.88 1.04 1.2 1.317 1.389 1.46
Rate of return 0.92% 2.39% 2.45% 2.78% 3.74% 3.86% 4.07% 4.28%
EPS 2 0.41 0.71 1.01 1.08 1.18 0.9664 0.7663 0.6846
Distribution rate 97.6% 101% 87.1% 96.3% 102% 136% 181% 213%
Net sales 1 1,304 1,491 1,624 1,729 1,850 1,904 1,970 2,073
EBITDA 1 660.4 734.2 809.3 912.1 968.5 1,014 1,056 1,108
EBIT 1 287.5 331.2 352.7 400.7 464.1 502.3 538.9 595.1
Net income 1 135.3 250.8 366.2 398.5 439 383.3 304 312.6
Net Debt 1 3,832 4,447 4,402 4,811 4,987 5,115 5,373 5,529
Reference price 2 43.61 30.14 35.96 37.42 32.10 34.08 34.08 34.08
Nbr of stocks (in thousands) 334,396 353,445 362,056 369,507 371,106 359,815 - -
Announcement Date 2/24/22 2/23/23 2/22/24 2/20/25 2/19/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
32.76x11.38x18.67x3.87% 26.23B
51.4x10.4x17.48x4.26% 24.74B
50.21x12.84x19.57x3.61% 18.47B
33.05x8.89x16.98x3.97% 17.9B
36.6x9.56x16.97x4.57% 15.57B
-87.02x8.77x19.47x3.71% 14.64B
31.6x10.08x20.64x3.33% 12.62B
35.44x9.16x17.19x3.84% 12.32B
38.51x10.58x16.95x4.58% 12.19B
Average 24.73x 10.18x 18.21x 3.97% 17.19B
Weighted average by Cap. 27.48x 10.33x 18.20x 3.98%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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