Company Valuation: Irish Residential Properties REIT plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 887.4 590 586.8 481.9 491.9 568.5 - -
Change - -33.52% -0.54% -17.87% 2.08% 15.57% - -
Enterprise Value (EV) 1 1,500 1,235 1,146 1,031 1,024 1,093 1,122 1,139
Change - -17.69% -7.17% -10.09% -0.64% 6.75% 2.58% 1.57%
P/E 13.1x -50.6x -5.06x -70x 9.87x 19x 6.95x 7.55x
PBR 1.01x 0.7x 0.84x 0.72x 0.71x 0.76x 0.71x 0.66x
PEG - 0x -0x 0.7x -0x -0.5x 0x -0.94x
Capitalization / Revenue 11.1x 6.95x 6.68x 5.65x 5.76x 7.34x 6.64x 6.31x
EV / Revenue 18.8x 14.6x 13x 12.1x 12x 14.1x 13.1x 12.6x
EV / EBITDA 29x 22.8x 20.5x 19.4x 18.8x 14x 15.4x 15.2x
EV / EBIT 18.4x 250x -13.1x 61.8x 13.8x 10.6x 9.43x 9.8x
EV / FCF 45.9x 37.2x 23.2x 24.8x 22.4x 32x 25.3x 24.7x
FCF Yield 2.18% 2.69% 4.31% 4.03% 4.47% 3.13% 3.95% 4.05%
Dividend per Share 2 0.0599 0.0511 0.0445 0.0408 0.0489 0.0515 0.0573 0.0592
Rate of return 3.57% 4.59% 4.02% 4.48% 5.21% 4.75% 5.29% 5.46%
EPS 2 0.128 -0.022 -0.219 -0.013 0.095 0.057 0.156 0.1435
Distribution rate 46.8% -232% -20.3% -314% 51.5% 90.4% 36.8% 41.2%
Net sales 1 79.74 84.86 87.85 85.27 85.46 77.4 85.63 90.1
EBITDA 1 51.72 54.21 56.01 53.22 54.56 78.05 73.03 75
EBIT 1 81.43 4.939 -87.8 16.69 74.03 103.4 118.9 116.2
Net income 1 67.55 -11.82 -116 -6.676 49.75 56.05 80.57 95.2
Net Debt 1 613.1 645 559.6 548.8 532.2 524.8 553 570.7
Reference price 2 1.676 1.114 1.108 0.910 0.938 1.084 1.084 1.084
Nbr of stocks (in thousands) 529,454 529,579 529,579 529,579 524,442 524,442 - -
Announcement Date 2/23/22 2/24/23 2/23/24 2/20/25 2/19/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.02x14.13x14.01x4.75% 661M
44.04x13.53x24.3x - 50.57B
49.61x12.5x19.16x3.72% 17.91B
28.81x8.5x16.28x4.23% 16.77B
34.39x9.26x16.42x4.78% 14.89B
-45.67x8.81x19.43x3.75% 14.55B
30.36x9.76x19.99x3.45% 12.11B
35.38x10.3x16.76x4.78% 11.69B
33.3x8.82x16.53x4.05% 11.68B
91.16x9.32x16.63x4.01% 10.84B
Average 32.04x 10.49x 17.95x 4.17% 16.17B
Weighted average by Cap. 34.74x 10.94x 19.75x 4.1%

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

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