Company Valuation: Mesa Royalty Trust

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 7.613 11.46 41.02 24.6 11.01 8.051
Change - 50.55% 257.89% -40.03% -55.23% -26.9%
Enterprise Value (EV) 7.613 11.22 39.96 24.23 10.96 7.927
Change - 47.37% 256.17% -39.36% -54.79% -27.65%
P/E Ratio 13.5x 15.1x 11.1x 8.61x 23.8x 15.8x
PBR 2.94x 4.59x 15.2x 8.09x 3.52x 2.55x
PEG - 0.4x 0x -0.4x -0.3x 1.5x
Capitalization / Revenue 9.09x 12.6x 9.91x 7.25x 15.1x 11.8x
EV / Revenue 0x 0x 0x 0x 0x 0x
EV / EBITDA - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 0x
EV / FCF - - - - - -
FCF Yield - - - - - -
Dividend per Share 2 0.3089 0.4223 1.969 1.488 0.2109 0.2329
Rate of return 7.56% 6.87% 8.95% 11.3% 3.57% 5.39%
EPS 2 0.3036 0.4061 1.976 1.533 0.2484 0.2742
Distribution rate 102% 104% 99.7% 97.1% 84.9% 84.9%
Net sales 1 0.8379 0.9083 4.139 3.394 0.7314 0.6827
EBITDA - - - - - -
EBIT 1 0.644 0.7355 3.942 3.207 0.535 0.5109
Net income 1 0.5658 0.7568 3.682 2.857 0.463 0.5109
Net Debt - -0.242 -1.059 -0.3666 -0.0581 -0.124
Reference price 2 4.085 6.150 22.010 13.200 5.910 4.320
Nbr of stocks (in thousands) 1,864 1,864 1,864 1,864 1,864 1,864
Announcement Date 3/31/21 3/31/22 3/23/23 4/1/24 3/31/25 3/30/26
1USD in Million2USD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 6.82M
11.63x2.19x5.03x2.89% 143B
11.35x3.16x5.99x3.94% 94.47B
7.74x2.61x4.3x3.02% 72.78B
7.5x2.5x4.04x1.81% 56.24B
11.53x3.47x4.85x2.26% 54.05B
8.76x1.34x4.56x2.17% 52.91B
8.9x2.36x4.6x2.6% 52.26B
11.16x3.13x4.58x7.15% 41.88B
5.45x1.63x3.76x4.65% 34.05B
Average 9.33x 2.49x 4.63x 3.39% 60.12B
Weighted average by Cap. 9.85x 2.51x 4.80x 3.22%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Mesa Royalty Trust
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