Company Valuation: Equity Residential

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 33,939 22,297 23,224 27,228 23,985 26,166 - -
Change - -34.3% 4.16% 17.24% -11.91% 9.09% - -
Enterprise Value (EV) 1 42,157 29,669 30,564 35,287 32,104 34,478 34,549 34,693
Change - -29.62% 3.02% 15.46% -9.02% 7.4% 0.21% 0.41%
P/E 25.6x 28.8x 27.8x 26.4x 21.4x 51x 44.8x 39.8x
PBR 3.09x 1.99x 2.09x 2.47x 2.21x 2.55x 2.67x 2.8x
PEG - -0.7x 3.8x 1.1x 2.65x -1x 3.2x 3.1x
Capitalization / Revenue 13.8x 8.15x 8.08x 9.14x 7.75x 8.25x 7.97x 7.65x
EV / Revenue 17.1x 10.8x 10.6x 11.8x 10.4x 10.9x 10.5x 10.1x
EV / EBITDA 28.8x 17.7x 17.2x 19.2x 17x 18.2x 17.5x 16.9x
EV / EBIT 67.9x 36.6x 34.8x 40.5x 36.9x 36.9x 35.7x 33.9x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2.41 2.5 2.65 2.7 2.77 2.817 2.877 2.959
Rate of return 2.66% 4.24% 4.33% 3.76% 4.39% 4.03% 4.12% 4.24%
EPS 2 3.54 2.05 2.2 2.72 2.94 1.37 1.559 1.756
Distribution rate 68.1% 122% 120% 99.3% 94.2% 206% 185% 168%
Net sales 1 2,464 2,735 2,874 2,980 3,094 3,172 3,282 3,421
EBITDA 1 1,461 1,679 1,774 1,834 1,892 1,892 1,978 2,052
EBIT 1 620.4 811.7 878 871.7 869.8 934.9 968.4 1,024
Net income 1 1,330 773.8 832.3 1,033 1,119 506.7 588.3 660.3
Net Debt 1 8,218 7,372 7,340 8,059 8,119 8,312 8,383 8,526
Reference price 2 90.50 59.00 61.16 71.76 63.04 69.83 69.83 69.83
Nbr of stocks (in thousands) 375,016 377,919 379,725 379,429 380,475 374,712 - -
Announcement Date 2/1/22 2/9/23 1/30/24 2/3/25 2/5/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
50.99x10.87x18.22x4.03% 26.17B
34.48x11.8x19.33x3.68% 27.48B
49.21x13.36x20.08x3.5% 19.17B
39.84x9.26x17.18x3.94% 18.14B
41.94x9.98x17.85x4.32% 16.55B
55.48x8.16x18.7x3.6% 15.24B
47.91x11.17x17.97x4.23% 13.35B
32.82x10.23x21.08x3.25% 12.85B
45.29x9.22x17.35x3.85% 12.29B
105x10.09x18.39x3.64% 12.02B
Average 50.30x 10.42x 18.61x 3.81% 17.33B
Weighted average by Cap. 48.30x 10.61x 18.64x 3.82%

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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  4. Valuation Equity Residential