Company Valuation: Covivio

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 6,813 5,199 4,872 5,403 6,274 4,809 - -
Change - -23.69% -6.29% 10.89% 16.12% -23.35% - -
Enterprise Value (EV) 1 17,785 5,199 11,797 12,248 13,335 12,759 13,016 13,106
Change - -70.77% 126.9% 3.82% 8.88% -4.32% 2.01% 0.69%
P/E 7.37x 8.39x -3.34x 76.5x 8.5x 9.29x 8.91x 6.87x
PBR 0.79x 0.55x 0.6x 0.66x 0.73x 0.5x 0.49x 0.47x
PEG - -0.3x 0x -1x 0x -0.3x 2.09x 0.2x
Capitalization / Revenue 11.5x 8.57x 7.91x 5.4x 9.88x 6.84x 6.63x 6.4x
EV / Revenue 29.9x 8.57x 19.2x 12.2x 21x 18.1x 18x 17.4x
EV / EBITDA 32.6x 9.73x 21.4x 20.9x 20.7x 19.8x 19.2x 18.5x
EV / EBIT 35.7x 10x 22.3x 21.4x 21.7x 16.5x 15.9x 14x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 3.75 3.75 3.3 3.5 3.75 3.95 4.038 4.167
Rate of return 5.19% 6.76% 6.78% 7.18% 6.62% 9.1% 9.3% 9.6%
EPS 2 9.791 6.606 -14.55 0.637 6.667 4.672 4.871 6.321
Distribution rate 38.3% 56.8% -22.7% 549% 56.2% 84.5% 82.9% 65.9%
Net sales 1 594.6 606.8 615.6 1,000 634.8 703.3 724.9 751.7
EBITDA 1 545.6 534.3 551 587 643 644.2 679.2 709.8
EBIT 1 498 517.5 530 571.8 615.7 773.3 817.4 932.9
Net income 1 923.6 620.7 -1,419 68.1 738.7 575.8 637.8 814.3
Net Debt 1 10,972 - 6,925 6,845 7,061 7,950 8,207 8,297
Reference price 2 72.20 55.45 48.68 48.76 56.65 43.40 43.40 43.40
Nbr of stocks (in thousands) 94,369 93,764 100,084 110,805 110,750 110,804 - -
Announcement Date 2/22/22 2/21/23 2/15/24 2/19/25 2/18/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.29x18.14x19.81x9.1% 5.41B
38.39x18.29x23.22x3.32% 123B
30.6x13.85x17.62x4.48% 65.02B
35.8x14.47x14.94x6.03% 51.06B
17.75x15x17.09x1.16% 36.82B
16.07x25.01x27.38x3.57% 16.38B
25.99x10.48x14.46x4.84% 14.92B
7.92x11.67x14.3x6.3% 14.23B
17.95x16.04x23.31x5.37% 13.93B
28.77x11.06x16.15x4.24% 13.08B
Average 22.85x 15.40x 18.83x 4.84% 35.34B
Weighted average by Cap. 30.04x 15.94x 19.51x 4.1%

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