Company Valuation: BWP Trust

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 2,499 2,332 2,469 2,512 2,747 2,819 - -
Change - -6.68% 5.87% 1.73% 9.36% 2.62% - -
Enterprise Value (EV) 1 2,943 2,783 3,213 3,293 3,388 3,568 3,612 3,655
Change - -5.41% 15.43% 2.5% 2.88% 5.32% 1.21% 1.2%
P/E 5.14x 63.6x 12.7x 9.46x 6.78x 16.5x 15.9x 15.3x
PBR 1.01x 0.97x 0.91x 0.88x 0.92x 0.83x 0.8x 0.76x
PEG - -0.7x 0x 0.3x 0.1x -0.3x 3.67x 4.6x
Capitalization / Revenue 16.3x 14.7x 14.2x 12.4x 13.1x 13.1x 12.4x 11.9x
EV / Revenue 19.2x 17.6x 18.4x 16.2x 16.2x 16.6x 15.9x 15.4x
EV / EBITDA 22.9x 21.5x 22.2x 20x 18.1x 18.9x 18.1x 17.6x
EV / EBIT 22.9x 21.5x 22.2x 20x 18.1x 19x 18.2x 17.7x
EV / FCF 25.5x 25.4x - 34.9x 60.9x 60.8x 32.5x 30.4x
FCF Yield 3.92% 3.94% - 2.87% 1.64% 1.64% 3.08% 3.29%
Dividend per Share 2 0.1829 0.1829 0.1829 0.1865 0.1941 0.2 0.204 0.2113
Rate of return 4.7% 5.04% 5.29% 5.3% 5.12% 5.57% 5.68% 5.89%
EPS 2 0.7575 0.0571 0.2729 0.3722 0.559 0.217 0.2264 0.2339
Distribution rate 24.1% 320% 67% 50.1% 34.7% 92.2% 90.1% 90.3%
Net sales 1 153.3 158.2 174.5 203.3 209.3 215.4 227.4 236.6
EBITDA 1 128.5 129.4 144.7 164.7 187.6 188.8 199.8 208
EBIT 1 128.5 129.4 144.7 164.7 187.6 187.5 198.7 206.4
Net income 1 486.6 36.69 180.2 265.6 409.2 190.8 198.8 216.6
Net Debt 1 443.7 451.6 744.3 781.7 641.4 749.7 793 836.2
Reference price 2 3.890 3.630 3.460 3.520 3.790 3.590 3.590 3.590
Nbr of stocks (in thousands) 642,384 642,384 713,511 713,511 724,733 785,137 - -
Announcement Date 8/2/22 8/1/23 8/13/24 8/4/25 8/18/26 - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.54x16.56x18.9x5.57% 2B
37.44x14.86x15.34x5.77% 53.32B
16.74x23.44x28.08x3.44% 17.13B
8.22x12.06x14.78x5.81% 15.7B
17.6x16.04x23.3x5.37% 13.97B
9.27x13.31x15.86x5.39% 12B
26.06x10.54x16.58x4.14% 9.6B
36.84x7.7x12.37x5.35% 9.38B
14.39x11.65x18.31x6.55% 9.04B
7.37x19.66x26.6x3.36% 8.91B
Average 19.05x 14.58x 19.01x 5.07% 15.11B
Weighted average by Cap. 23.79x 14.92x 18.29x 5.22%

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

-40%: Exceptional extension
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