Company Valuation: Trade Estates REIC

Data adjusted to current consolidation scope
Fiscal Period: December 2023 2024 2025 2026 2027 2028
Market Cap 1 212.1 198.6 238 233.5 - -
Change - -6.36% 19.83% -1.92% - -
Enterprise Value (EV) 1 212.1 431 491.1 515 544.4 607.4
Change - 103.18% 13.95% 4.85% 5.71% 11.57%
P/E 4.37x 8.26x 5.95x 11.4x 7.57x 8.04x
PBR - 0.64x - - - -
PEG - -0.2x 0.1x -0.2x 0.2x -1.37x
Capitalization / Revenue - 4.3x 4.59x 4.27x 3.98x 3.93x
EV / Revenue - 9.33x 9.47x 9.41x 9.27x 10.2x
EV / EBITDA - 14.3x 15.7x 14.8x 14.4x 15.8x
EV / EBIT - 14.6x 16x 9.63x 9.99x 10.8x
EV / FCF - - - - - -
FCF Yield - - - - - -
Dividend per Share 2 - 0.1 0.1953 0.135 0.145 0.145
Rate of return - 6.07% 9.94% 6.99% 7.51% 7.51%
EPS 2 0.4031 0.1994 0.33 0.17 0.255 0.24
Distribution rate - 50.2% 59.2% 79.4% 56.9% 60.4%
Net sales 1 - 46.19 51.87 54.7 58.7 59.4
EBITDA 1 - 30.08 31.3 34.85 37.8 38.4
EBIT 1 - 29.58 30.65 53.5 54.5 56
Net income 1 37.71 24.04 39.91 38.2 35.9 32.55
Net Debt 1 - 232.4 253.1 281.5 310.9 373.9
Reference price 2 1.760 1.648 1.965 1.930 1.930 1.930
Nbr of stocks (in thousands) 120,529 120,529 121,132 120,963 - -
Announcement Date 3/12/24 4/2/25 3/16/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.35x9.41x14.78x6.99% 269M
16.8x15.89x16.53x4.68% 14.37B
21.3x13.71x16.98x1.53% 8.9B
53.71x16.06x27.42x0.17% 7.09B
25.21x11.98x16.85x1.24% 3.85B
133.22x16.09x23.99x2.22% 3.52B
10.72x6.16x8.41x3.7% 2.72B
15.48x5.9x7.87x12.98% 2.66B
10.28x5.79x9.26x2.02% 2.14B
Average 33.12x 11.22x 15.79x 3.95% 5.06B
Weighted average by Cap. 32.37x 13.50x 17.57x 3.19%

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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