Company Valuation: DEXUS

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 9,551 8,389 6,953 7,133 5,775 5,974 - -
Change - -12.16% -17.12% 2.59% -19.04% 3.44% - -
Enterprise Value (EV) 1 14,418 13,611 11,809 11,790 10,291 10,497 10,591 10,728
Change - -5.6% -13.24% -0.16% -12.71% 2% 0.89% 1.29%
P/E 5.99x -11.1x -4.4x 52.4x 12.5x 9.35x 9.09x 8.61x
PBR 0.7x 0.68x 0.68x 0.72x 0.58x 0.62x 0.61x 0.58x
PEG - 0x -0x -0x 0x 0.2x 3.18x 1.54x
Capitalization / Revenue 10.9x 9.89x 7.71x 7.5x 8.13x 7.48x 7.09x 6.66x
EV / Revenue 16.5x 16x 13.1x 12.4x 14.5x 13.1x 12.6x 12x
EV / EBITDA 15.5x 15.1x 13.5x 13x 11.1x 14.2x 13.7x 13.1x
EV / EBIT 15.8x 15.3x 13.7x 13.3x 11.4x 14x 13.5x 13x
EV / FCF 26x 24.8x 25.3x 16x 21.8x 24.9x 36.4x 27.4x
FCF Yield 3.85% 4.02% 3.95% 6.26% 4.59% 4.02% 2.75% 3.65%
Dividend per Share 2 0.532 0.516 0.48 0.37 0.37 0.3692 0.3748 0.3941
Rate of return 5.99% 6.62% 7.41% 5.56% 6.85% 6.61% 6.71% 7.05%
EPS 2 1.484 -0.7 -1.473 0.1268 0.4334 0.5977 0.6148 0.6491
Distribution rate 35.9% -73.7% -32.6% 292% 85.4% 61.8% 61% 60.7%
Net sales 1 874.3 848.4 902.2 951.2 710 798.7 843.1 896.3
EBITDA 1 928.4 899.9 876.9 903.6 923.6 741.2 775.2 816
EBIT 1 914.6 891.5 863 885.5 901.4 750.3 787.2 823.2
Net income 1 1,583 -752.7 -1,584 136.1 482.2 602.7 614.9 634.6
Net Debt 1 4,867 5,222 4,856 4,657 4,516 4,523 4,617 4,754
Reference price 2 8.880 7.800 6.480 6.650 5.400 5.590 5.590 5.590
Nbr of stocks (in thousands) 1,075,565 1,075,565 1,073,020 1,072,665 1,069,489 1,068,719 - -
Announcement Date 8/16/22 A 8/15/23 A 8/19/24 A 8/19/25 A 8/19/26 A - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
9.25x13.06x14.08x6.68% 4.22B
30.26x7.17x12.65x4.38% 10.22B
24.06x16.09x26.07x4.09% 6.93B
22.78x15.75x26.34x4.47% 5.38B
158.08x7.74x12.1x4.56% 4.65B
38.04x12.23x15.95x6.33% 4.34B
141.15x7.59x13.2x6.29% 4B
23.74x8.28x15.17x3.72% 3.87B
-23.63x9.79x22.17x4.75% 3.67B
Average 47.08x 10.86x 17.53x 5.03% 5.26B
Weighted average by Cap. 44.59x 10.83x 17.54x 4.89%

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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