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 1,028 - -
Change - -6.18% 1.9% -5.09% 11.83% 3.64% - -
Enterprise Value (EV) 1 977.4 917 934.4 886.9 991.7 1,942 2,005 2,040
Change - -6.18% 1.9% -5.09% 11.83% 95.8% 3.24% 1.75%
P/E 7.22x 5.01x 7.56x 8.27x 8.03x 10.7x 10.4x 9.07x
PBR 1.06x 0.84x 0.8x 0.73x 0.77x 0.78x 0.77x 0.75x
PEG - 0.2x -0.2x -0.5x 0.6x -0.5x 3.56x 0.6x
Capitalization / Revenue 8.44x 7.29x 6.7x 6.18x 6.79x 6.78x 6.5x 6.25x
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 16x 15.6x 15.4x
EV / FCF - - 12.4x - 13.6x 109x 58.5x 46.4x
FCF Yield - - 8.04% - 7.33% 0.92% 1.71% 2.16%
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% 7.66% 7.73% 7.82%
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 68.40 68.40 68.40
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.($)
10.65x12.76x15.73x7.7% 1.16B
33.88x15.06x19.45x4.12% 71.05B
30.21x11.39x15.89x4.2% 16.84B
32.34x11.85x17.84x3.81% 14.56B
15.01x10.94x15.88x6.68% 12.42B
26.3x10.21x14.99x4.02% 9.48B
40.39x15.85x19.05x4.1% 9.34B
22.89x14.26x15.68x5.18% 8.92B
12.03x17.28x19x4.71% 8.4B
-172.47x12.36x18.62x2.78% 7.37B
Average 5.12x 13.20x 17.21x 4.73% 15.95B
Weighted average by Cap. 20.34x 13.75x 18.06x 4.35%

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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