Company Valuation: Retail Estates sa

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 977.4 917 934.4 886.9 991.7 985.7 - -
Change - -6.18% 1.9% -5.09% 11.83% -0.61% - -
Enterprise Value (EV) 1 977.4 917 934.4 886.9 991.7 1,900 1,963 1,998
Change - -6.18% 1.9% -5.09% 11.83% 91.56% 3.32% 1.78%
P/E 7.22x 5.01x 7.56x 8.27x 8.03x 10.3x 9.98x 8.69x
PBR 1.06x 0.84x 0.8x 0.73x 0.77x 0.75x 0.74x 0.72x
PEG - 0.2x -0.2x -0.5x 0.6x -0.5x 3.42x 0.6x
Capitalization / Revenue 8.44x 7.29x 6.7x 6.18x 6.79x 6.5x 6.23x 5.99x
EV / Revenue 8.44x 7.29x 6.7x 6.18x 6.79x 12.5x 12.4x 12.1x
EV / EBITDA - - 8.37x - 8.4x 15.4x 15.2x 14.7x
EV / EBIT 10.1x 15.5x 8.37x 7.76x 8.4x 15.7x 15.3x 15.1x
EV / FCF - - 12.4x - 13.6x 107x 57.3x 45.4x
FCF Yield - - 8.04% - 7.33% 0.94% 1.75% 2.2%
Dividend per Share 2 4.6 4.9 5 5.1 5.2 5.24 5.28 5.325
Rate of return 6.22% 7.53% 7.69% 8.46% 7.88% 7.99% 8.05% 8.12%
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% 82.1% 80.4% 70.6%
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 65.60 65.60 65.60
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
10.28x12.53x15.44x7.99% 1.15B
34.28x14.79x19.14x4.13% 70.63B
28.74x11.11x15.16x4.46% 16.11B
30.6x11.56x16.83x3.99% 13.9B
15.93x11.36x16.53x6.29% 13.16B
39.23x15.59x18.83x4.32% 9.18B
25.08x9.91x14.74x4.24% 8.99B
22.11x14.16x15.55x5.33% 8.8B
15.14x15.95x17.49x5.15% 8.71B
-145.55x12.11x16.41x2.81% 6.93B
Average 7.58x 12.91x 16.61x 4.87% 15.76B
Weighted average by Cap. 21.80x 13.51x 17.60x 4.44%

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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