Company Valuation: Hammerson

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,447 1,188 1,411 1,373 1,750 1,997 - -
Change - -17.88% 18.77% -2.73% 27.46% 14.16% - -
Enterprise Value (EV) 1 3,266 2,920 2,738 2,172 3,119 3,419 3,446 3,445
Change - -10.59% -6.26% -20.67% 43.64% 9.61% 0.8% -0.06%
P/E -3.35x -7.21x -28.4x -2.64x 7.17x 10.3x 10.2x 8.81x
PBR 0.53x 0.45x 0.57x 0.76x 0.79x 0.84x 0.8x 0.76x
PEG - 0.1x 0.4x -0x -0x -0.4x 7.64x 0.6x
Capitalization / Revenue 5.99x 5.52x 6.77x 7.26x 7.58x 7.25x 6.59x 6.38x
EV / Revenue 13.5x 13.6x 13.1x 11.5x 13.5x 12.4x 11.4x 11x
EV / EBITDA 22.3x 17.5x 16.5x 15.9x 21.6x 17.9x 16.4x 15.2x
EV / EBIT 21.2x 18.3x 16.8x 16.2x 21.6x 17.9x 16.3x 15.3x
EV / FCF -22.2x 88x 140x - 142x 82.1x 63.1x 48x
FCF Yield -4.51% 1.14% 0.72% - 0.7% 1.22% 1.58% 2.08%
Dividend per Share 2 0.04 0.02 0.15 0.1563 0.165 0.1848 0.1964 0.2055
Rate of return 1.22% 0.84% 5.28% 5.59% 5% 5.4% 5.74% 6%
EPS 2 -0.98 -0.33 -0.1 -1.06 0.46 0.332 0.3364 0.3888
Distribution rate -4.08% -6.06% -150% -14.7% 35.9% 55.7% 58.4% 52.8%
Net sales 1 241.6 215.2 208.4 189 230.9 275.4 303.1 313.1
EBITDA 1 146.4 166.4 166 136.9 144.2 191.3 210.7 226.1
EBIT 1 154.3 159.4 163 133.8 144.6 191.1 212.1 225.6
Net income 1 -429.1 -164.2 -51.4 -526.3 232.1 188.2 208.4 226.2
Net Debt 1 1,819 1,732 1,326 799 1,370 1,422 1,449 1,447
Reference price 2 3.280 2.380 2.840 2.796 3.300 3.424 3.424 3.424
Nbr of stocks (in thousands) 441,130 499,228 496,906 490,939 530,184 583,323 - -
Announcement Date 3/4/22 A 3/9/23 A 2/29/24 A 2/26/25 A 2/25/26 A - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.83x14.71x15.19x5.87% 52.45B
16.75x23.45x28.1x3.44% 17.04B
8.01x11.94x14.63x5.96% 15.24B
17.75x16.13x23.44x5.32% 14.04B
9.23x13.27x15.81x5.42% 11.89B
25.81x10.48x16.47x4.18% 9.5B
35.48x7.56x12.16x5.56% 9.04B
14.52x11.71x18.4x6.49% 9.09B
7.33x19.59x26.5x3.38% 8.83B
Average 19.08x 14.32x 18.97x 5.07% 16.35B
Weighted average by Cap. 23.53x 14.85x 18.24x 5.27%

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