Company Valuation: Gecina

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 9,059 7,022 8,134 6,688 5,992 5,184 - -
Change - -22.49% 15.83% -17.78% -10.41% -13.48% - -
Enterprise Value (EV) 1 15,957 14,199 14,334 13,188 12,746 11,850 12,196 12,217
Change - -11.02% 0.95% -7.99% -3.36% -7.02% 2.92% 0.17%
P/E 10.7x 41.4x -4.56x 21.7x 13.4x 8.73x 8.97x 8.43x
PBR 0.7x 0.55x 0.77x 0.64x 0.57x 0.49x 0.48x 0.47x
PEG - -0.5x 0x -0x 0.3x 0.3x -3.36x 1.31x
Capitalization / Revenue 14.8x 11.2x 12.2x 9.63x 8.41x 7.26x 7.11x 6.77x
EV / Revenue 26x 22.7x 21.5x 19x 17.9x 16.6x 16.7x 16x
EV / EBITDA 33.5x 28.6x 26.8x 23.3x 21.6x 20x 20.2x 19.2x
EV / EBIT 34.3x 28.9x 28.4x 23.8x 21.9x 20.2x 20.1x 19.2x
EV / FCF 23.6x 64.9x 99.2x 90.8x 47.4x 24.3x 32.2x 18x
FCF Yield 4.23% 1.54% 1.01% 1.1% 2.11% 4.11% 3.11% 5.55%
Dividend per Share 2 5.3 5.3 5.3 5.45 5.5 5.607 5.678 5.847
Rate of return 4.31% 5.57% 4.81% 6.03% 6.8% 8.01% 8.11% 8.35%
EPS 2 11.53 2.299 -24.15 4.175 6.028 8.015 7.802 8.303
Distribution rate 46% 231% -21.9% 131% 91.2% 70% 72.8% 70.4%
Net sales 1 613.3 625.9 666.8 694.5 712.6 713.7 729.4 765.5
EBITDA 1 476.4 496.5 535 565.7 589.7 592.6 604 634.9
EBIT 1 464.6 491.5 505.3 554 582.2 585.9 607.2 635.2
Net income 1 849.3 169.6 -1,787 309.8 448.2 423.4 687.5 768.9
Net Debt 1 6,898 7,177 6,200 6,500 6,754 6,666 7,012 7,033
Reference price 2 122.90 95.15 110.10 90.45 80.90 70.00 70.00 70.00
Nbr of stocks (in thousands) 73,714 73,802 73,881 73,945 74,065 74,060 - -
Announcement Date 2/17/22 2/15/23 2/14/24 2/13/25 2/10/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.7x13.52x15.79x5.25% 16.21B
8.71x14.12x18.24x6.04% 7.01B
23.32x14.91x16.26x4.13% 6.64B
12.28x14.65x15.62x5.2% 6.45B
8.9x16.74x20.17x7.86% 6.16B
10.6x14.95x16.05x6.69% 6.19B
8.74x14.08x18.06x5.7% 6.01B
12.69x12.21x13.05x5.45% 5.23B
Average 13.62x 14.40x 16.65x 5.79% 7.49B
Weighted average by Cap. 15.33x 14.29x 16.58x 5.69%

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