Financials Essex Property Trust, Inc.

Equities

ESS

US2971781057

Residential REITs

Market Closed - Nyse 16:00:02 2024-06-24 EDT 5-day change 1st Jan Change
279.2 USD +0.35% Intraday chart for Essex Property Trust, Inc. -0.75% +12.60%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,881 15,481 22,926 13,723 15,914 17,927 - -
Enterprise Value (EV) 1 25,609 21,722 29,155 19,638 21,719 23,899 23,870 23,848
P/E ratio 45.2 x 27.3 x 46.9 x 33.8 x 39.2 x 37.8 x 47.8 x 45.4 x
Yield 2.59% 3.5% 2.37% - 3.73% 3.47% 3.59% 3.68%
Capitalization / Revenue 13.7 x 10.4 x 16 x 8.6 x 9.6 x 10.4 x 10.1 x 9.8 x
EV / Revenue 17.7 x 14.6 x 20.4 x 12.3 x 13.1 x 13.9 x 13.4 x 13 x
EV / EBITDA 22.7 x 19.3 x 23.1 x 19 x 21.4 x 19.7 x 19.8 x 19.9 x
EV / FCF 48.7 x 50.1 x 50.2 x - 26.9 x 31.9 x 33.2 x 32.6 x
FCF Yield 2.05% 2% 1.99% - 3.71% 3.14% 3.01% 3.07%
Price to Book 3.2 x 2.57 x 3.83 x - 2.94 x 3.47 x 3.65 x 3.82 x
Nbr of stocks (in thousands) 66,082 65,205 65,088 64,754 64,185 64,209 - -
Reference price 2 300.9 237.4 352.2 211.9 247.9 279.2 279.2 279.2
Announcement Date 1/29/20 2/4/21 2/2/22 2/7/23 2/6/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,451 1,486 1,431 1,596 1,658 1,721 1,775 1,829
EBITDA 1 1,130 1,124 1,261 1,033 1,017 1,211 1,207 1,200
EBIT 1 481.1 491.4 530 500.8 525.1 538.6 560.6 583.2
Operating Margin 33.17% 33.07% 37.03% 31.39% 31.67% 31.3% 31.58% 31.89%
Earnings before Tax (EBT) 1 464.4 599.3 515.7 433 430.7 449.6 373.9 416.3
Net income 1 439.3 568.9 488.6 408.3 405.8 524.4 400.4 397.6
Net margin 30.28% 38.28% 34.13% 25.59% 24.47% 30.48% 22.56% 21.74%
EPS 2 6.660 8.690 7.510 6.270 6.320 7.387 5.836 6.149
Free Cash Flow 1 525.3 434 580.8 - 806.7 749.5 719.2 731.2
FCF margin 36.21% 29.2% 40.58% - 48.65% 43.57% 40.51% 39.98%
FCF Conversion (EBITDA) 46.47% 38.6% 46.08% - 79.31% 61.87% 59.58% 60.91%
FCF Conversion (Net income) 119.59% 76.29% 118.88% - 198.79% 142.93% 179.6% 183.89%
Dividend per Share 2 7.800 8.310 8.360 - 9.240 9.679 10.02 10.27
Announcement Date 1/29/20 2/4/21 2/2/22 2/7/23 2/6/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 369.2 379.2 397.2 406.9 412.4 409.7 413.3 416.4 418.9 424.2 430.8 434.2 435.8 436.7 441.9
EBITDA 1 334.5 257 237.5 268.3 286.3 278.2 296 284.2 274.4 329.4 299 297.4 297.7 298.7 301.8
EBIT 1 101.3 109.8 128.6 128.6 133.7 128.1 134.8 131.8 130.3 132.4 141.9 137.6 139.9 136.4 143.2
Operating Margin 27.43% 28.97% 32.38% 31.61% 32.43% 31.28% 32.63% 31.65% 31.11% 31.2% 32.95% 31.7% 32.1% 31.24% 32.41%
Earnings before Tax (EBT) 1 144.1 78.38 - - - - - - 70.35 285.1 90.7 89.19 89.17 91.54 86.7
Net income 1 136.9 73.25 57.05 92.84 185.2 153.5 99.62 87.28 65.39 272.7 94.21 92.55 93.14 95.43 101
Net margin 37.08% 19.32% 14.36% 22.82% 44.9% 37.48% 24.11% 20.96% 15.61% 64.29% 21.87% 21.31% 21.37% 21.85% 22.85%
EPS 2 2.100 1.120 0.8700 1.430 2.860 2.380 1.550 1.360 1.020 4.250 1.364 1.347 1.348 1.445 1.506
Dividend per Share 2 2.090 2.200 2.200 2.200 - 2.310 2.310 2.310 2.310 2.450 2.426 2.426 2.426 2.506 2.513
Announcement Date 2/2/22 4/26/22 7/26/22 10/26/22 2/7/23 4/27/23 7/27/23 10/26/23 2/6/24 4/30/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 5,728 6,242 6,229 5,916 5,805 5,972 5,943 5,921
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.067 x 5.551 x 4.941 x 5.724 x 5.707 x 4.93 x 4.924 x 4.933 x
Free Cash Flow 1 525 434 581 - 807 750 719 731
ROE (net income / shareholders' equity) 7.04% 9.31% 8.15% 6.97% 7.29% 9.42% 7.03% 8.13%
ROA (Net income/ Total Assets) 3.5% 4.44% 3.77% 3.22% 3.28% 3.35% 3.09% 3.49%
Assets 1 12,545 12,821 12,967 12,685 12,367 15,672 12,955 11,391
Book Value Per Share 2 94.10 92.30 91.90 - 84.50 80.40 76.40 73.10
Cash Flow per Share 2 13.90 12.20 13.90 - 15.30 15.20 15.70 16.30
Capex 1 394 659 324 - 173 200 254 278
Capex / Sales 27.14% 44.36% 22.67% - 10.45% 11.62% 14.3% 15.22%
Announcement Date 1/29/20 2/4/21 2/2/22 2/7/23 2/6/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
25
Last Close Price
279.2 USD
Average target price
265.9 USD
Spread / Average Target
-4.76%
Consensus
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  4. Financials Essex Property Trust, Inc.