Company Valuation: Retail Estates sa

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 977.4 917 934.4 886.9 991.7 1,034 - -
Change - -6.18% 1.9% -5.09% 11.83% 4.24% - -
Enterprise Value (EV) 1 977.4 917 934.4 886.9 991.7 1,948 2,011 2,046
Change - -6.18% 1.9% -5.09% 11.83% 96.4% 3.23% 1.74%
P/E 7.22x 5.01x 7.56x 8.27x 8.03x 10.8x 10.5x 9.12x
PBR 1.06x 0.84x 0.8x 0.73x 0.77x 0.78x 0.78x 0.76x
PEG - 0.2x -0.2x -0.5x 0.6x -0.5x 3.6x 0.6x
Capitalization / Revenue 8.44x 7.29x 6.7x 6.18x 6.79x 6.82x 6.53x 6.29x
EV / Revenue 8.44x 7.29x 6.7x 6.18x 6.79x 12.8x 12.7x 12.4x
EV / EBITDA - - 8.37x - 8.4x 15.8x 15.5x 15x
EV / EBIT 10.1x 15.5x 8.37x 7.76x 8.4x 16.1x 15.7x 15.5x
EV / FCF - - 12.4x - 13.6x 109x 58.7x 46.5x
FCF Yield - - 8.04% - 7.33% 0.91% 1.7% 2.15%
Dividend per Share 2 4.6 4.9 5 5.1 5.2 5.238 5.288 5.35
Rate of return 6.22% 7.53% 7.69% 8.46% 7.88% 7.61% 7.69% 7.78%
EPS 2 10.23 12.99 8.6 7.29 8.22 6.383 6.57 7.545
Distribution rate 45% 37.7% 58.1% 70% 63.3% 82% 80.5% 70.9%
Net sales 1 115.8 125.9 139.5 143.4 146.1 151.7 158.2 164.5
EBITDA 1 - - 111.6 - 118 123 129.4 136
EBIT 1 96.93 59.28 111.6 114.3 118 121.3 128.1 132.3
Net income 1 - - 123 - 123 95.75 99.65 108
Net Debt 1 - - - - - 914 977 1,012
Reference price 2 73.90 65.10 65.00 60.30 66.00 68.80 68.80 68.80
Nbr of stocks (in thousands) 13,226 14,086 14,376 14,707 15,026 15,026 - -
Announcement Date 6/16/22 5/26/23 5/27/24 5/26/25 5/22/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.78x12.84x15.83x7.61% 1.18B
34.95x15.38x19.9x3.99% 73.31B
30.63x11.5x16.12x4.14% 17.08B
32.84x11.98x18.04x3.75% 14.78B
15.18x11.02x16x6.6% 12.57B
26.57x10.27x15.1x3.98% 9.57B
40.24x15.77x19.03x4.1% 9.33B
23.2x14.38x15.81x5.11% 9.04B
12.12x17.39x19.12x4.68% 8.5B
-177.27x12.57x18.94x2.7% 7.58B
Average 4.92x 13.31x 17.39x 4.67% 16.29B
Weighted average by Cap. 20.71x 13.95x 18.36x 4.26%

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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