Company Valuation: PSP Swiss Property AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,215 4,977 5,394 5,912 6,582 6,587 - -
Change - -4.57% 8.39% 9.61% 11.33% 0.07% - -
Enterprise Value (EV) 1 8,200 8,041 8,718 9,240 9,906 9,836 9,830 9,842
Change - -1.94% 8.42% 5.99% 7.21% -0.71% -0.06% 0.12%
P/E 8.77x 15.1x 26x 15.8x 16.1x 18.8x 19.8x 20.1x
PBR 1.04x 0.96x 1.03x 1.09x 1.17x 1.13x 1.1x 1.07x
PEG - -0.3x -0.7x 0.2x 1.78x -1.3x -4.06x -12.59x
Capitalization / Revenue 16.8x 15.7x 16.3x 16.9x 18.8x 18.2x 18.1x 18.1x
EV / Revenue 26.5x 25.4x 26.3x 26.4x 28.4x 27.2x 27x 27.1x
EV / EBITDA 29.4x 27.4x 29.3x 30.3x 32.8x 30.1x 30.6x 30.8x
EV / EBIT 29.6x 27.5x 29.4x 30.4x 32.9x 30.3x 30.8x 31x
EV / FCF 42.6x 85.3x -114x 52.9x 53.9x 88.8x 59.8x 53.8x
FCF Yield 2.35% 1.17% -0.88% 1.89% 1.85% 1.13% 1.67% 1.86%
Dividend per Share 2 3.75 3.8 3.85 3.9 3.95 4.008 4.065 4.119
Rate of return 3.3% 3.5% 3.27% 3.03% 2.75% 2.8% 2.84% 2.88%
EPS 2 12.97 7.19 4.53 8.17 8.91 7.604 7.233 7.117
Distribution rate 28.9% 52.9% 85% 47.7% 44.3% 52.7% 56.2% 57.9%
Net sales 1 309.6 316.2 331.9 350 349.2 361.4 363.5 363.8
EBITDA 1 278.8 293.8 297.7 304.9 302 326.4 321 319.2
EBIT 1 277.4 292.5 296.6 304 300.9 324.3 319.1 317.2
Net income 1 595 330 207.6 374.9 408.5 329.7 318.6 312.8
Net Debt 1 2,985 3,065 3,324 3,328 3,324 3,249 3,243 3,255
Reference price 2 113.70 108.50 117.60 128.90 143.50 143.20 143.20 143.20
Nbr of stocks (in thousands) 45,868 45,868 45,868 45,868 45,868 45,868 - -
Announcement Date 2/22/22 2/21/23 2/27/24 2/25/25 2/24/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
18.83x27.17x30.08x2.8% 8.14B
15.32x4.85x13.03x3.31% 43.62B
20.93x4.27x17.53x1.2% 31.13B
8.13x1.43x7.17x4.38% 29.27B
5.92x0.69x1.42x8.43% 28.54B
13.98x3.07x14.73x2.51% 25.18B
15.13x6.83x18.32x1.41% 21.51B
8.77x2.22x7.12x4.03% 20.29B
Average 13.38x 6.32x 13.68x 3.51% 25.96B
Weighted average by Cap. 13.17x 4.32x 12.13x 3.61%

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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  4. Valuation PSP Swiss Property AG