Company Valuation: Essex Property Trust, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,926 13,723 15,914 18,345 16,853 17,456 - -
Change - -40.14% 15.97% 15.27% -8.13% 3.58% - -
Enterprise Value (EV) 1 29,155 19,638 21,719 24,870 23,568 24,007 24,035 24,030
Change - -32.64% 10.6% 14.51% -5.24% 1.86% 0.11% -0.02%
P/E 46.9x 33.8x 39.2x 24.7x 25.2x 48.4x 41.6x 37.8x
PBR 3.83x - 2.94x 3.31x 3.04x 3.41x 3.66x 3.82x
PEG - -2x 49.16x 0.3x -2.55x -1.1x 2.5x 3.7x
Capitalization / Revenue 16x 8.6x 9.6x 10.4x 8.97x 8.92x 8.64x 8.32x
EV / Revenue 20.4x 12.3x 13.1x 14.1x 12.5x 12.3x 11.9x 11.5x
EV / EBITDA 23.1x 19x 21.4x 20.1x 18.7x 18.8x 18x 17.6x
EV / EBIT 55x 39.2x 41.4x 47.1x 39.3x 39.9x 35.3x 32.6x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 8.36 - 9.24 9.8 10.28 10.36 10.68 11.02
Rate of return 2.37% - 3.73% 3.43% 3.93% 3.82% 3.93% 4.06%
EPS 2 7.51 6.27 6.32 11.54 10.4 5.616 6.534 7.193
Distribution rate 111% - 146% 84.9% 98.8% 185% 163% 153%
Net sales 1 1,431 1,596 1,658 1,764 1,878 1,957 2,020 2,098
EBITDA 1 1,261 1,033 1,017 1,237 1,263 1,275 1,332 1,369
EBIT 1 530 500.8 525.1 527.5 599.8 602.1 681.1 737.1
Net income 1 488.6 408.3 405.8 741.5 669.7 367.9 418.3 442.5
Net Debt 1 6,229 5,916 5,805 6,526 6,715 6,551 6,579 6,574
Reference price 2 352.23 211.92 247.94 285.44 261.68 271.61 271.61 271.61
Nbr of stocks (in thousands) 65,088 64,754 64,185 64,267 64,404 64,268 - -
Announcement Date 2/2/22 2/7/23 2/6/24 2/4/25 2/4/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
48.37x12.27x18.83x3.82% 17.46B
41.45x12.87x22.95x - 47.6B
27.01x8.15x15.6x4.52% 15.72B
31.68x8.74x15.51x5.18% 13.73B
-18.27x8.55x18.45x3.98% 13.67B
28.48x9.39x19.19x3.64% 11.49B
31.42x8.47x15.88x4.3% 11.02B
32.41x9.83x15.98x5.14% 10.87B
71.45x8.84x15.88x4.32% 10.06B
73.15x8.57x15.41x4.85% 3.44B
Average 36.71x 9.57x 17.37x 4.42% 15.51B
Weighted average by Cap. 34.98x 10.44x 18.79x 4.36%

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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