Company Valuation: Kiwi Property Group Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,727 1,430 1,337 1,414 1,500 1,552 - -
Change - -17.22% -6.47% 5.73% 6.11% 3.41% - -
Enterprise Value (EV) 1 2,851 2,543 2,514 2,685 2,707 2,577 2,570 2,550
Change - -10.82% -1.13% 6.78% 0.84% -4.79% -0.27% -0.82%
P/E 7.7x -6.28x -646x 24.4x 29.7x 12.5x 9.88x 9.26x
PBR 0.76x 0.74x 0.72x 0.76x 0.82x 0.83x 0.8x 0.79x
PEG - 0x 6.5x -0x -2.1x 0x 0.4x 1.38x
Capitalization / Revenue 9.23x 7.02x 7.23x 7.28x 7.27x 8.21x 8.08x 7.84x
EV / Revenue 15.2x 12.5x 13.6x 13.8x 13.1x 13.6x 13.4x 12.9x
EV / EBITDA 17.5x 13.6x 14.8x 14.8x 14.3x 15.7x 15.4x 14.9x
EV / EBIT 17.5x 14.7x 16.1x 15.5x 15x 15.6x 15.3x 14.8x
EV / FCF - - - - 106x 12.4x 26x 19x
FCF Yield - - - - 0.94% 8.05% 3.85% 5.26%
Dividend per Share 2 0.056 0.057 0.057 0.054 0.056 0.0575 0.0584 0.059
Rate of return 5.09% 6.26% 6.79% 6.21% 6.15% 6.12% 6.21% 6.28%
EPS 2 0.1429 -0.1449 -0.0013 0.0356 0.0306 0.0751 0.0952 0.1015
Distribution rate 39.2% -39.3% -4,385% 152% 183% 76.6% 61.3% 58.1%
Net sales 1 187.1 203.7 184.9 194.1 206.5 188.9 192.1 198
EBITDA 1 163 187.1 170 181.6 189.3 164.6 167.4 170.8
EBIT 1 163 173.6 156.3 173.1 180.2 165.2 168 172.2
Net income 1 224.3 -227.7 -2.119 56.99 50.45 125.8 161.7 162.7
Net Debt 1 1,124 1,113 1,177 1,271 1,207 1,026 1,019 998
Reference price 2 1.1000 0.9100 0.8400 0.8700 0.9100 0.9400 0.9400 0.9400
Nbr of stocks (in thousands) 1,570,095 1,571,172 1,591,972 1,625,216 1,648,787 1,650,542 - -
Announcement Date 5/22/22 5/22/23 5/26/24 5/26/25 5/18/26 - - -
1NZD in Million2NZD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
12.52x13.64x15.66x6.12% 914M
15.12x4.83x12.98x3.35% 43.02B
8.99x1.53x8x3.95% 31.08B
18.21x4.03x16.43x1.35% 27.8B
5.54x0.73x1.56x8.99% 26.76B
13.54x3.04x14.65x2.6% 24.64B
8.15x0.9x3.29x2.74% 20.84B
10.6x2.06x9.6x4.19% 20.07B
13.56x6.58x17.59x1.57% 19.63B
10.32x1.66x14.33x3.66% 18.8B
Average 11.66x 3.90x 11.41x 3.85% 23.36B
Weighted average by Cap. 11.87x 2.97x 10.95x 3.66%

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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