Company Valuation: ICON Properties plc

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Market Cap 1 70,140 81,964 86,105 79,826 119,238 120,574
Change - 16.86% 5.05% -7.29% 49.37% 1.12%
Enterprise Value (EV) 1 69,169 81,844 77,851 76,241 115,939 111,161
Change - 18.32% -4.88% -2.07% 52.07% -4.12%
P/E 9.68x 9.53x 10x 4.78x 6.22x 4.94x
PBR 0.95x 1.01x 0.98x 0.77x 0.99x 0.84x
PEG - 0.5x 107.79x 0.1x 0.4x 0.2x
Capitalization / Revenue 12.9x 15.5x 16.5x 14.2x 17.8x 15.3x
EV / Revenue 12.7x 15.5x 14.9x 13.6x 17.3x 14.1x
EV / EBITDA 22x - 34x 31.4x 41.8x 42.9x
EV / EBIT 22x 25.8x 34x 31.4x 41.9x 43.4x
EV / FCF 6.11x -154x -948x 20.6x 67.1x 65.9x
FCF Yield 16.4% -0.65% -0.11% 4.86% 1.49% 1.52%
Dividend per Share 2 0.21 0.23 0.24 0.25 0.27 0.29
Rate of return 2% 1.87% 1.86% 2.09% 1.51% 1.61%
EPS 2 1.085 1.288 1.289 2.501 2.868 3.656
Distribution rate 19.4% 17.9% 18.6% 10% 9.41% 7.93%
Net sales 1 5,436 5,294 5,232 5,617 6,706 7,880
EBITDA 1 3,143 - 2,290 2,432 2,773 2,591
EBIT 1 3,140 3,171 2,287 2,428 2,770 2,564
Net income 1 7,249 8,605 8,613 16,706 19,159 24,424
Net Debt 1 -970.6 -119.3 -8,254 -3,585 -3,299 -9,413
Reference price 2 10.50 12.27 12.89 11.95 17.85 18.05
Nbr of stocks (in thousands) 6,680,000 6,680,000 6,680,000 6,680,000 6,680,000 6,680,000
Announcement Date 5/12/20 4/30/21 11/11/22 7/26/23 7/5/24 6/30/25
1MWK in Million2MWK
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 65.58M
21.07x4.29x17.6x1.19% 31.25B
5.74x0.67x1.37x8.7% 27.67B
14.27x3.1x14.88x2.46% 25.64B
15.33x6.87x18.44x1.4% 21.75B
32.18x15.26x49.41x1.28% 17.3B
7.4x1.64x5.3x2.98% 16.63B
9.53x28.06x - 2.31% 16.35B
27.06x11.07x26.73x3.71% 15.3B
Average 16.57x 8.87x 19.10x 3% 19.11B
Weighted average by Cap. 16.09x 7.57x 17.50x 3.13%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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