Financials Home Invest Belgium NV

Equities

Market Closed - Euronext Bruxelles Other stock markets 11:35:22 2024-06-25 EDT			5-day change	1st Jan Change
17.28 ^EUR	-2.81%		-4.00%	+11.48%

03-29	An unknown buyer acquired Two Non-Strategic Properties in Ghent and Liège from Home Invest Belgium S.A. for ?6.6 million.	CI
03-02	Home Invest Belgium S.A. Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	374.8	379.8	401.2	387.6	304	347.4	-	-
Enterprise Value (EV) ¹	374.8	379.8	401.2	387.6	304	347.4	347.4	347.4
P/E ratio	6.75 x	20.1 x	-	6.51 x	-20.4 x	4.26 x	14.8 x	14.5 x
Yield	4.25%	4.29%	4.07%	-	6.52%	6.22%	6.34%	6.45%
Capitalization / Revenue	14.9 x	14.3 x	-	-	8.79 x	9.58 x	8.97 x	8.7 x
EV / Revenue	14.9 x	14.3 x	-	-	8.79 x	9.58 x	8.97 x	8.7 x
EV / EBITDA	-	-	-	-	-	13 x	12 x	11.5 x
EV / FCF	-	22.5 x	-	-	-	12.1 x	56 x	15.7 x
FCF Yield	-	4.44%	-	-	-	8.23%	1.78%	6.36%
Price to Book	1.21 x	1.22 x	-	-	-	-	-	-
Nbr of stocks (in thousands)	16,441	16,441	16,443	17,786	19,615	20,106	-	-
Reference price ²	22.80	23.10	24.40	21.80	15.50	17.28	17.28	17.28
Announcement Date	2/20/20	2/24/21	4/2/22	4/1/23	3/2/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	25.18	26.57	-	-	34.6	36.25	38.75	39.95
EBITDA ¹	-	-	-	-	-	26.7	28.9	30.1
EBIT ¹	18.86	20.61	-	-	25.25	26.8	28.65	29.65
Operating Margin	74.9%	77.56%	-	-	72.99%	73.93%	73.94%	74.22%
Earnings before Tax (EBT) ¹	-	-	-	-	-13.95	82.1	24.2	24.4
Net income ¹	-	-	-	57.23	-14.28	81.8	23.8	24.2
Net margin	-	-	-	-	-41.28%	225.66%	61.42%	60.58%
EPS ²	3.376	1.148	-	3.350	-0.7600	4.060	1.170	1.190
Free Cash Flow ¹	-	16.85	-	-	-	28.6	6.2	22.1
FCF margin	-	63.41%	-	-	-	78.9%	16%	55.32%
FCF Conversion (EBITDA)	-	-	-	-	-	107.12%	21.45%	73.42%
FCF Conversion (Net income)	-	-	-	-	-	34.96%	26.05%	91.32%
Dividend per Share ²	0.9700	0.9900	0.9920	-	1.010	1.075	1.095	1.115
Announcement Date	2/20/20	2/24/21	4/2/22	4/1/23	3/2/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-
Free Cash Flow ¹	-	16.8	-	-	28.6	6.2	22.1
ROE (net income / shareholders' equity)	19.2%	6.09%	-	5.12%	6.4%	6%	5.7%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share	18.80	18.90	-	-	-	-	-
Cash Flow per Share	-	-	-	-	-	-	-
Capex ¹	-	0.14	-	-	35	18	1
Capex / Sales	-	0.53%	-	-	96.55%	46.45%	2.5%
Announcement Date	2/20/20	2/24/21	4/1/23	3/2/24	-	-	-

¹EUR in Million

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

17.28 EUR

Average target price

19.25 EUR

Spread / Average Target

+11.40%

	1st Jan change	Capi.
HOME INVEST BELGIUM NV	+11.48%	372M
AVALONBAY COMMUNITIES, INC.	+9.12%	29.01B
EQUITY RESIDENTIAL	+12.15%	25.99B
INVITATION HOMES INC.	+4.19%	21.77B
ESSEX PROPERTY TRUST, INC.	+11.16%	17.7B
MID-AMERICA APARTMENT COMMUNITY, INC.	+4.95%	16.49B
SUN COMMUNITIES, INC.	-10.94%	14.84B
UDR INC.	+6.61%	13.44B
AMERICAN HOMES 4 RENT	+0.81%	13.28B
EQUITY LIFESTYLE PROPERTIES, INC.	-8.93%	11.98B