Company Valuation: H&R Real Estate Investment Trust

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 4,687 3,220 2,592 2,432 2,686 2,713 -
Change - -31.3% -19.48% -6.21% 10.47% 0.99% -
Enterprise Value (EV) 1 4,687 7,283 6,393 6,035 2,686 6,032 2,713
Change - 55.39% -12.22% -5.6% -55.49% 124.59% -55.03%
P/E 7.82x 4.19x 45.2x -21.7x -3.62x 15.9x 11.2x
PBR - - - - - - -
PEG - 0.1x -0.5x 0x -0x -0x 0.3x
Capitalization / Revenue 4x 3.34x 2.6x 2.5x 2.74x 3.73x 3.43x
EV / Revenue 4x 7.55x 6.41x 6.2x 2.74x 8.29x 3.43x
EV / EBITDA 7.4x 12.1x 10.2x 9.91x 4.33x 13.5x 6.61x
EV / EBIT - - - - - - -
EV / FCF 11.6x - 25.2x 25.7x - -12.7x 93.5x
FCF Yield 8.64% - 3.96% 3.89% - -7.89% 1.07%
Dividend per Share 2 0.69 0.54 0.7 0.6 0.6 0.5967 0.5967
Rate of return 4.25% 4.46% 7.07% 6.47% 5.87% 5.68% 5.68%
EPS 2 2.078 2.893 0.2189 -0.4277 -2.827 0.66 0.94
Distribution rate 33.2% 18.7% 320% -140% -21.2% 90.4% 63.5%
Net sales 1 1,172 965 997.8 973.4 980.5 728 790
EBITDA 1 633.6 601.7 627 608.8 620.2 448.3 410.3
EBIT - - - - - - -
Net income 1 597.9 844.8 61.69 -119.7 -791.6 171.3 263
Net Debt 1 - 4,063 3,801 3,604 - 3,320 -
Reference price 2 16.25 12.11 9.90 9.28 10.23 10.50 10.50
Nbr of stocks (in thousands) 288,440 265,885 261,868 262,016 262,566 264,637 -
Announcement Date 2/14/22 A 2/13/23 A 2/13/24 A 2/12/25 A 2/12/26 A - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
23.9x13.49x16.02x5.28% 16.1B
9.08x14.25x18.44x5.94% 7.08B
15.26x15.32x16.43x4.75% 7.03B
23.22x14.78x16.04x4.13% 6.62B
9.24x17.03x20.51x7.57% 6.33B
10.5x14.86x15.96x6.75% 6.1B
8.83x14.15x18.16x5.65% 6.03B
11.78x11.45x13.03x5.41% 4.94B
Average 13.98x 14.42x 16.82x 5.69% 7.53B
Weighted average by Cap. 15.67x 14.34x 16.79x 5.61%

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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  5. Valuation H&R Real Estate Investment Trust