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 15,313 - -
Change - -31.38% -13.45% 15.15% -9.98% -5.85% - -
Enterprise Value (EV) 1 30,880 22,505 20,189 23,004 21,609 21,065 21,266 21,512
Change - -27.12% -10.29% 13.95% -6.06% -2.52% 0.95% 1.16%
P/E 49.8x 28.6x 28.5x 34.4x 36.7x 36x 42.6x 38x
PBR - 3.02x 2.64x 3.12x 2.94x 2.98x 3.24x 3.54x
PEG - 1.5x -2x -7.36x -2.3x -11.88x -2.8x 3.1x
Capitalization / Revenue 14.9x 8.98x 7.3x 8.25x 7.36x 6.87x 6.69x 6.42x
EV / Revenue 17.4x 11.1x 9.4x 10.5x 9.78x 9.45x 9.29x 9.02x
EV / EBITDA 30.5x 19.1x 16x 18.4x 17.3x 16.8x 16.7x 17.9x
EV / EBIT 66.4x 35.8x 29.3x 35x 34.9x 35.8x 35.3x 33.2x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.162 4.675 5.67 5.925 6.075 6.139 6.268 5.943
Rate of return 1.81% 2.98% 4.22% 3.83% 4.37% 4.65% 4.75% 4.5%
EPS 2 4.61 5.48 4.71 4.49 3.78 3.665 3.101 3.477
Distribution rate 90.3% 85.3% 120% 132% 161% 167% 202% 171%
Net sales 1 1,778 2,020 2,148 2,191 2,209 2,229 2,290 2,385
EBITDA 1 1,013 1,178 1,262 1,247 1,247 1,256 1,275 1,200
EBIT 1 464.9 628.9 688.9 656.8 619.4 588.9 602.8 648.8
Net income 1 530.1 633.7 549.1 523.9 443.2 434.7 364.6 383.3
Net Debt 1 4,462 4,376 4,499 4,938 5,345 5,752 5,954 6,200
Reference price 2 229.44 156.99 134.46 154.57 138.91 131.98 131.98 131.98
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.($)
51.39x13.02x19.89x3.53% 18.87B
30.48x8.92x17.18x3.95% 17.99B
36.31x9.51x16.87x4.61% 15.45B
-47.19x9.04x19.95x3.62% 15.03B
31.95x10.17x20.82x3.29% 12.76B
36.49x9.24x17.32x3.78% 12.53B
38.21x10.68x17.38x4.53% 12.33B
93.01x9.59x17.2x3.89% 11.19B
Average 33.83x 10.02x 18.33x 3.9% 14.52B
Weighted average by Cap. 32.26x 10.10x 18.38x 3.89%

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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