Company Valuation: Hammerson

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,447 1,188 1,411 1,373 1,750 2,115 - -
Change - -17.88% 18.77% -2.73% 27.46% 20.89% - -
Enterprise Value (EV) 1 3,266 2,920 2,738 2,172 3,119 3,539 3,567 3,559
Change - -10.59% -6.26% -20.67% 43.64% 13.47% 0.76% -0.2%
P/E -3.35x -7.21x -28.4x -2.64x 7.17x 10x 10x 9.47x
PBR 0.53x 0.45x 0.57x 0.76x 0.79x 0.89x 0.84x 0.8x
PEG - 0.1x 0.4x -0x -0x -0.5x 190.28x 1.68x
Capitalization / Revenue 5.99x 5.52x 6.77x 7.26x 7.58x 7.66x 6.97x 6.71x
EV / Revenue 13.5x 13.6x 13.1x 11.5x 13.5x 12.8x 11.7x 11.3x
EV / EBITDA 22.3x 17.5x 16.5x 15.9x 21.6x 18.6x 17.1x 15.7x
EV / EBIT 21.2x 18.3x 16.8x 16.2x 21.6x 18.6x 16.8x 15.7x
EV / FCF -22.2x 88x 140x - 142x 58.7x 39.5x 28.8x
FCF Yield -4.51% 1.14% 0.72% - 0.7% 1.7% 2.53% 3.47%
Dividend per Share 2 0.04 0.02 0.15 0.1563 0.165 0.1833 0.1957 0.2046
Rate of return 1.22% 0.84% 5.28% 5.59% 5% 5.06% 5.41% 5.65%
EPS 2 -0.98 -0.33 -0.1 -1.06 0.46 0.3615 0.3617 0.3821
Distribution rate -4.08% -6.06% -150% -14.7% 35.9% 50.7% 54.1% 53.5%
Net sales 1 241.6 215.2 208.4 189 230.9 276.1 303.6 315.1
EBITDA 1 146.4 166.4 166 136.9 144.2 190.3 209.1 226.6
EBIT 1 154.3 159.4 163 133.8 144.6 190.5 212 226.4
Net income 1 -429.1 -164.2 -51.4 -526.3 232.1 197.1 210.7 222.7
Net Debt 1 1,819 1,732 1,326 799 1,370 1,424 1,451 1,444
Reference price 2 3.280 2.380 2.840 2.796 3.300 3.620 3.620 3.620
Nbr of stocks (in thousands) 441,130 499,228 496,906 490,939 530,184 583,323 - -
Announcement Date 3/4/22 3/9/23 2/29/24 2/26/25 2/25/26 - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
40.24x15.69x16.05x5.29% 58.23B
16.65x23.35x27.98x3.46% 17.3B
8.42x12.14x14.88x5.69% 16.27B
19.53x16.48x23.66x5.18% 14.57B
9.94x13.61x16.17x5.21% 12.6B
27.65x10.97x17.27x3.9% 10.18B
7.76x20.31x27.48x3.2% 9.53B
14.57x11.79x18.33x6.38% 9.35B
36.05x7.62x12.25x5.47% 9.18B
Average 20.09x 14.66x 19.34x 4.86% 17.47B
Weighted average by Cap. 25.45x 15.34x 18.64x 4.97%

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