Company Valuation: Argosy Property Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,168 939.9 953.1 843.7 987 895.8 - -
Change - -19.55% 1.4% -11.48% 16.99% -9.24% - -
Enterprise Value (EV) 1 1,905 1,698 1,689 1,598 1,839 1,700 1,686 1,689
Change - -10.89% -0.5% -5.39% 15.07% -7.54% -0.84% 0.2%
P/E 4.93x -11.6x -17.2x 6.64x 7.64x 7.54x 7.52x -
PBR 0.79x 0.7x 0.78x 0.64x 0.71x 0.62x 0.6x 0.58x
PEG - 0x 0.5x -0x -37.77x -0.93x 28.4x -
Capitalization / Revenue 11.1x 8.33x 8.18x 7.22x 8.17x 7.43x 7x 6.83x
EV / Revenue 18.1x 15.1x 14.5x 13.7x 15.2x 14.1x 13.2x 12.9x
EV / EBITDA 20.4x 16.6x 16.1x 15.2x 16.8x 15.6x 14.6x 14.3x
EV / EBIT 20.4x 16.6x 16.1x 15.2x 16.8x 15.6x 14.6x 14.3x
EV / FCF - - 69.4x - -30.8x 22x 36.5x 37.5x
FCF Yield - - 1.44% - -3.24% 4.55% 2.74% 2.66%
Dividend per Share 2 0.0655 0.0665 0.0665 0.0665 0.0665 0.0665 0.0665 0.0665
Rate of return 4.75% 5.99% 5.91% 6.75% 5.88% 6.49% 6.49% 6.49%
EPS 2 0.2801 -0.0955 -0.0653 0.1483 0.148 0.136 0.1363 -
Distribution rate 23.4% -69.6% -102% 44.8% 44.9% 48.9% 48.8% -
Net sales 1 105.1 112.8 116.5 116.9 120.8 120.6 127.9 131.2
EBITDA 1 93.3 102 104.9 105.5 109.4 108.8 115.8 118.4
EBIT 1 93.3 102 104.9 105.5 109.4 108.8 115.8 118.4
Net income 1 236.2 -80.8 -55.3 125.9 127.7 107.6 112 115.4
Net Debt 1 737.1 757.9 736.2 754.5 852.1 804.7 790.3 793.6
Reference price 2 1.380 1.110 1.125 0.985 1.130 1.025 1.025 1.025
Nbr of stocks (in thousands) 846,551 846,724 847,169 856,547 873,475 873,970 - -
Announcement Date 5/17/22 A 5/16/23 A 5/21/24 A 5/21/25 A 5/19/26 A - - -
1NZD in Million2NZD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
7.54x14.1x15.63x6.49% 505M
61.61x - - - 65.82B
14.08x4.56x12.27x3.6% 40.07B
5.7x0.76x1.57x8.64% 27.87B
8.36x1.48x7.93x4.24% 27.77B
17.83x3.95x15.87x1.37% 27.62B
13.63x3.06x14.66x2.57% 25.25B
9.19x3.49x7.71x-.--% 21.67B
8.18x0.91x3.3x2.73% 20.93B
10.37x2.04x8.39x4.05% 20.85B
Average 15.65x 3.82x 9.70x 3.74% 27.83B
Weighted average by Cap. 23.13x 2.71x 9.33x 3.53%

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 Argosy Property Limited