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 16,378 - -
Change - -31.38% -13.45% 15.15% -9.98% 0.7% - -
Enterprise Value (EV) 1 30,880 22,505 20,189 23,004 21,609 22,179 22,321 22,413
Change - -27.12% -10.29% 13.95% -6.06% 2.64% 0.64% 0.41%
P/E 49.8x 28.6x 28.5x 34.4x 36.7x 41.5x 44.5x 37.4x
PBR - 3.02x 2.64x 3.12x 2.94x 3.2x 3.44x 3.62x
PEG - 1.5x -2x -7.36x -2.3x -4x -6.65x 2x
Capitalization / Revenue 14.9x 8.98x 7.3x 8.25x 7.36x 7.32x 7.1x 6.79x
EV / Revenue 17.4x 11.1x 9.4x 10.5x 9.78x 9.91x 9.68x 9.29x
EV / EBITDA 30.5x 19.1x 16x 18.4x 17.3x 17.7x 17.4x 16.5x
EV / EBIT 66.4x 35.8x 29.3x 35x 34.9x 37.1x 36.4x 33.5x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.162 4.675 5.67 5.925 6.075 6.145 6.272 6.475
Rate of return 1.81% 2.98% 4.22% 3.83% 4.37% 4.37% 4.46% 4.6%
EPS 2 4.61 5.48 4.71 4.49 3.78 3.39 3.163 3.765
Distribution rate 90.3% 85.3% 120% 132% 161% 181% 198% 172%
Net sales 1 1,778 2,020 2,148 2,191 2,209 2,238 2,307 2,413
EBITDA 1 1,013 1,178 1,262 1,247 1,247 1,252 1,285 1,360
EBIT 1 464.9 628.9 688.9 656.8 619.4 598.3 613.2 668.4
Net income 1 530.1 633.7 549.1 523.9 443.2 391.6 375.5 374.7
Net Debt 1 4,462 4,376 4,499 4,938 5,345 5,801 5,944 6,035
Reference price 2 229.44 156.99 134.46 154.57 138.91 140.72 140.72 140.72
Nbr of stocks (in thousands) 115,138 115,477 116,688 116,880 117,082 116,385 - -
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.($)
33.8x11.62x19.04x3.75% 26.94B
49.93x10.7x17.94x4.12% 25.62B
48.72x13.26x19.93x3.54% 18.98B
39.75x9.24x17.15x3.95% 18.09B
53.32x8.02x18.45x3.67% 14.94B
46.62x10.96x17.63x4.35% 12.99B
31.7x10x20.57x3.37% 12.46B
45.3x9.22x17.35x3.85% 12.29B
104.16x10.03x18.27x3.67% 11.93B
Average 50.37x 10.34x 18.48x 3.81% 17.14B
Weighted average by Cap. 48.17x 10.54x 18.50x 3.82%

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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  5. Valuation Mid-America Apartment Communities, Inc.