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 4,873 - -
Change - -22.49% 15.83% -17.78% -10.41% -18.67% - -
Enterprise Value (EV) 1 15,957 14,199 14,334 13,188 12,746 11,665 11,879 11,894
Change - -11.02% 0.95% -7.99% -3.36% -8.48% 1.84% 0.12%
P/E 10.7x 41.4x -4.56x 21.7x 13.4x 9.42x 8.69x 7.92x
PBR 0.7x 0.55x 0.77x 0.64x 0.57x 0.46x 0.45x 0.44x
PEG - -0.5x 0x -0x 0.3x 0.6x 1.03x 0.82x
Capitalization / Revenue 14.8x 11.2x 12.2x 9.63x 8.41x 6.82x 6.7x 6.38x
EV / Revenue 26x 22.7x 21.5x 19x 17.9x 16.3x 16.3x 15.6x
EV / EBITDA 33.5x 28.6x 26.8x 23.3x 21.6x 19.7x 19.7x 18.7x
EV / EBIT 34.3x 28.9x 28.4x 23.8x 21.9x 19.8x 19.6x 18.7x
EV / FCF 23.6x 64.9x 99.2x 90.8x 47.4x 24x 31.3x 17.5x
FCF Yield 4.23% 1.54% 1.01% 1.1% 2.11% 4.18% 3.19% 5.7%
Dividend per Share 2 5.3 5.3 5.3 5.45 5.5 5.603 5.674 5.847
Rate of return 4.31% 5.57% 4.81% 6.03% 6.8% 8.52% 8.62% 8.89%
EPS 2 11.53 2.299 -24.15 4.175 6.028 6.983 7.574 8.309
Distribution rate 46% 231% -21.9% 131% 91.2% 80.2% 74.9% 70.4%
Net sales 1 613.3 625.9 666.8 694.5 712.6 714.3 727.2 764.4
EBITDA 1 476.4 496.5 535 565.7 589.7 592.6 604 634.9
EBIT 1 464.6 491.5 505.3 554 582.2 588.4 606.7 635.2
Net income 1 849.3 169.6 -1,787 309.8 448.2 375.6 668.9 768.9
Net Debt 1 6,898 7,177 6,200 6,500 6,754 6,791 7,006 7,021
Reference price 2 122.90 95.15 110.10 90.45 80.90 65.80 65.80 65.80
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.($)
21.98x12.93x15.09x5.65% 15.08B
7.97x13.47x17.4x6.6% 6.31B
11.73x14.25x15.19x5.44% 6.13B
20.32x13.12x14.75x4.74% 5.79B
9.71x14.48x15.47x7.15% 5.67B
8.22x13.63x17.38x6.02% 5.56B
9.34x16.27x19.61x8.59% 5.54B
12.01x10.98x12.58x5.76% 4.92B
Average 12.66x 13.64x 15.93x 6.24% 6.88B
Weighted average by Cap. 14.23x 13.55x 15.83x 6.14%

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

-40%: Exceptional extension
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