Company Valuation: Canadian Apartment Properties Real Estate Investment Trust

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 10,502 7,343 8,264 7,098 5,739 5,400 - -
Change - -30.08% 12.54% -14.11% -19.15% -5.9% - -
Enterprise Value (EV) 1 10,502 14,347 8,264 7,098 5,739 11,453 11,504 5,400
Change - 36.62% -42.4% -14.11% -19.15% 99.59% 0.45% -53.06%
P/E 7.49x 547x -20.2x 24.6x 29.9x 46.7x 13.7x -
PBR - - - - - - - -
PEG - -5.5x 0x -0x -1x -1.2x 0x -
Capitalization / Revenue 11.3x 7.29x 7.76x 6.38x 5.72x 5.41x 5.28x 5.17x
EV / Revenue 11.3x 14.2x 7.76x 6.38x 5.72x 11.5x 11.3x 5.17x
EV / EBITDA 18.3x 23.4x 13x 10.5x 9.52x 19x 18.5x -
EV / EBIT - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.409 1.45 1.45 1.471 1.546 1.566 1.592 -
Rate of return 2.35% 3.4% 2.97% 3.45% 4.19% 4.48% 4.55% -
EPS 2 8.003 0.078 -2.419 1.73 1.232 0.75 2.55 -
Distribution rate 17.6% 1,859% -59.9% 85% 125% 209% 62.4% -
Net sales 1 933.1 1,007 1,065 1,113 1,003 999 1,022 1,044
EBITDA 1 575.2 612.4 636.2 673.1 603.1 601.8 621.3 -
EBIT - - - - - - - -
Net income 1 1,393 13.64 -411.6 292.7 197.1 115.3 398.1 397.8
Net Debt 1 - 7,004 - - - 6,053 6,104 -
Reference price 2 59.96 42.68 48.80 42.63 36.87 34.99 34.99 34.99
Nbr of stocks (in thousands) 175,145 172,046 169,339 166,492 155,642 154,336 - -
Announcement Date 2/23/22 A 2/22/23 A 2/22/24 A 2/13/25 A 2/12/26 A - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
46.65x11.46x19.03x4.48% 3.82B
33.35x11.7x19.17x3.72% 27.18B
50.16x10.74x18x4.1% 25.74B
48.43x13.21x19.84x3.56% 18.86B
38.67x8.76x16.82x4.07% 17.58B
39.9x9.62x17.21x4.54% 15.74B
53.12x7.98x18.32x3.75% 14.65B
46.33x10.97x17.62x4.38% 12.91B
31.44x9.89x20.37x3.39% 12.31B
44.21x9.06x17.06x3.94% 12B
Average 43.22x 10.34x 18.34x 3.99% 16.08B
Weighted average by Cap. 42.85x 10.46x 18.34x 3.95%

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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