Company Valuation: Mesa Royalty Trust

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 7.613 11.46 41.02 24.6 11.01 8.051
Change - 50.55% 257.89% -40.03% -55.23% -26.9%
Enterprise Value (EV) 7.613 11.22 39.96 24.23 10.96 7.927
Change - 47.37% 256.17% -39.36% -54.79% -27.65%
P/E 13.5x 15.1x 11.1x 8.61x 23.8x 15.8x
PBR 2.94x 4.59x 15.2x 8.09x 3.52x 2.55x
PEG - 0.4x 0x -0.4x -0.3x 1.5x
Capitalization / Revenue 9.09x 12.6x 9.91x 7.25x 15.1x 11.8x
EV / Revenue 0x 0x 0x 0x 0x 0x
EV / EBITDA - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 0x
EV / FCF - - - - - -
FCF Yield - - - - - -
Dividend per Share 2 0.3089 0.4223 1.969 1.488 0.2109 0.2329
Rate of return 7.56% 6.87% 8.95% 11.3% 3.57% 5.39%
EPS 2 0.3036 0.4061 1.976 1.533 0.2484 0.2742
Distribution rate 102% 104% 99.7% 97.1% 84.9% 84.9%
Net sales 1 0.8379 0.9083 4.139 3.394 0.7314 0.6827
EBITDA - - - - - -
EBIT 1 0.644 0.7355 3.942 3.207 0.535 0.5109
Net income 1 0.5658 0.7568 3.682 2.857 0.463 0.5109
Net Debt - -0.242 -1.059 -0.3666 -0.0581 -0.124
Reference price 2 4.085 6.150 22.010 13.200 5.910 4.320
Nbr of stocks (in thousands) 1,864 1,864 1,864 1,864 1,864 1,864
Announcement Date 3/31/21 A 3/31/22 A 3/23/23 A 4/1/24 A 3/31/25 A 3/30/26 A
1USD in Million2USD
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 5.33M
10.74x2.2x4.93x2.9% 141B
11.88x3.16x6.16x3.91% 93.85B
8.06x2.48x4.32x3.07% 70.68B
6.61x2.44x4.1x1.86% 55.89B
10.67x3.49x4.99x2.3% 52.66B
8.96x1.3x4.21x2.18% 52.11B
8.51x2.34x4.63x2.58% 49.42B
12.03x3.29x4.95x5.95% 42.8B
6.57x1.71x4.11x4.55% 36.05B
Average 9.34x 2.49x 4.71x 3.26% 59.47B
Weighted average by Cap. 9.71x 2.50x 4.84x 3.16%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Mesa Royalty Trust