Company Valuation: Goodman Property Trust

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 3,298 3,003 3,508 2,877 2,902 2,985 - -
Change - -8.94% 16.83% -17.98% 0.86% 2.84% - -
Enterprise Value (EV) 1 4,380 4,256 4,959 4,327 3,596 3,416 3,456 3,477
Change - -2.82% 16.52% -12.74% -16.9% -5% 1.18% 0.59%
P/E 4.41x -22.2x -5.67x 26.3x 11.8x 13.8x 13.3x 13.2x
PBR 0.9x 0.87x 1.13x 0.92x 0.89x 0.89x 0.85x 0.81x
PEG - 0x -0x -0x 0x -1.1x 3.52x 24.26x
Capitalization / Revenue 21x 17x 14.4x 12.5x 15.7x 16.2x 15.2x 14.6x
EV / Revenue 27.9x 24x 20.3x 18.8x 19.5x 18.5x 17.6x 17x
EV / EBITDA 29.7x 25.6x 24.4x 19.8x 20.3x 21.8x 20.3x 19.1x
EV / EBIT 31.7x 27.3x 27.2x 20.8x 22.3x 18.1x 17.4x 16.6x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.055 0.059 0.062 0.065 0.0682 0.0717 0.0751 0.0787
Rate of return 2.33% 2.76% 2.72% 3.48% 3.6% 3.68% 3.85% 4.04%
EPS 2 0.5357 -0.0965 -0.4021 0.0712 0.1612 0.1417 0.147 0.1478
Distribution rate 10.3% -61.1% -15.4% 91.3% 42.3% 50.6% 51.1% 53.2%
Net sales 1 157.1 177 244.1 230.5 184.5 184.5 196.4 204.8
EBITDA 1 147.6 166.1 203.1 218.4 177.3 156.6 170.6 181.7
EBIT 1 138 156 182.3 208.5 161.2 189.2 199 209.8
Net income 1 748.6 -135.4 -564.9 109.6 248 194.5 218.6 273.8
Net Debt 1 1,082 1,253 1,451 1,450 693.5 431.3 471.7 491.9
Reference price 2 2.360 2.140 2.280 1.870 1.895 1.950 1.950 1.950
Nbr of stocks (in thousands) 1,397,303 1,403,255 1,538,769 1,538,769 1,531,556 1,530,611 - -
Announcement Date 5/18/22 A 5/17/23 A 5/27/24 A 5/28/25 A 5/25/26 A - - -
1NZD in Million2NZD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.77x18.52x21.81x3.68% 1.74B
14.04x4.51x12.17x3.61% 39.98B
17.8x3.94x15.85x1.38% 28.22B
7.88x1.42x7.8x4.49% 26.51B
5.45x0.65x1.36x9.17% 26.23B
13.78x3.08x14.74x2.54% 26.13B
10.63x2.15x9.15x3.95% 21.37B
7.85x0.87x3.17x2.85% 20.08B
13.11x6.41x16.85x1.66% 19.31B
37.44x13.73x34.11x3.16% 18.14B
Average 14.17x 5.53x 13.70x 3.65% 22.77B
Weighted average by Cap. 13.69x 3.93x 12.31x 3.72%

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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