Company Valuation: Mid-America Apartment Communities, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 26,417 18,129 15,690 18,066 16,264 15,485 - -
Change - -31.38% -13.45% 15.15% -9.98% -4.79% - -
Enterprise Value (EV) 1 30,880 22,505 20,189 23,004 21,609 21,492 21,465 21,652
Change - -27.12% -10.29% 13.95% -6.06% -0.54% -0.12% 0.87%
P/E 49.8x 28.6x 28.5x 34.4x 36.7x 36.2x 42.6x 37x
PBR - 3.02x 2.64x 3.12x 2.94x 3.04x 3.3x 3.57x
PEG - 1.5x -2x -7.36x -2.3x -15.2x -2.8x 2.4x
Capitalization / Revenue 14.9x 8.98x 7.3x 8.25x 7.36x 6.95x 6.75x 6.44x
EV / Revenue 17.4x 11.1x 9.4x 10.5x 9.78x 9.64x 9.35x 9.01x
EV / EBITDA 30.5x 19.1x 16x 18.4x 17.3x 17.2x 16.8x 16.1x
EV / EBIT 66.4x 35.8x 29.3x 35x 34.9x 36.6x 33.6x 20.6x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.162 4.675 5.67 5.925 6.075 6.142 6.271 6.43
Rate of return 1.81% 2.98% 4.22% 3.83% 4.37% 4.6% 4.7% 4.82%
EPS 2 4.61 5.48 4.71 4.49 3.78 3.69 3.136 3.61
Distribution rate 90.3% 85.3% 120% 132% 161% 166% 200% 178%
Net sales 1 1,778 2,020 2,148 2,191 2,209 2,229 2,295 2,404
EBITDA 1 1,013 1,178 1,262 1,247 1,247 1,252 1,280 1,343
EBIT 1 464.9 628.9 688.9 656.8 619.4 587.1 638.9 1,049
Net income 1 530.1 633.7 549.1 523.9 443.2 431.2 365.6 380.9
Net Debt 1 4,462 4,376 4,499 4,938 5,345 6,006 5,980 6,166
Reference price 2 229.44 156.99 134.46 154.57 138.91 133.47 133.47 133.47
Nbr of stocks (in thousands) 115,138 115,477 116,688 116,880 117,082 116,022 - -
Announcement Date 2/2/22 2/1/23 2/7/24 2/5/25 2/4/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.17x9.64x17.17x4.6% 15.49B
34.84x11.58x19.04x3.77% 26.92B
51.3x10.62x17.88x4.16% 25.33B
48.55x12.98x19.55x3.62% 18.37B
36.94x8.97x17.01x3.94% 18.01B
56.2x8.63x19.56x3.62% 14.92B
32x10.13x20.85x3.29% 12.74B
40.54x10.73x18.14x4.49% 12.43B
45.32x9.23x17.35x3.82% 12.42B
98.15x9.68x17.58x3.83% 11.35B
Average 48.00x 10.22x 18.41x 3.91% 16.8B
Weighted average by Cap. 46.33x 10.39x 18.43x 3.92%

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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