Company Valuation: Mid-America Apartment Communities, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 26,417 18,129 15,690 18,066 16,264 15,475 - -
Change - -31.38% -13.45% 15.15% -9.98% -4.85% - -
Enterprise Value (EV) 1 30,880 22,505 20,189 23,004 21,609 21,310 21,487 21,696
Change - -27.12% -10.29% 13.95% -6.06% -1.38% 0.83% 0.97%
P/E 49.8x 28.6x 28.5x 34.4x 36.7x 39.2x 41.8x 35.7x
PBR - 3.02x 2.64x 3.12x 2.94x 3.02x 3.25x 3.42x
PEG - 1.5x -2x -7.36x -2.3x -3.8x -6.59x 2.1x
Capitalization / Revenue 14.9x 8.98x 7.3x 8.25x 7.36x 6.92x 6.71x 6.41x
EV / Revenue 17.4x 11.1x 9.4x 10.5x 9.78x 9.53x 9.31x 8.98x
EV / EBITDA 30.5x 19.1x 16x 18.4x 17.3x 17x 16.7x 16x
EV / EBIT 66.4x 35.8x 29.3x 35x 34.9x 35.6x 34.8x 31.9x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.162 4.675 5.67 5.925 6.075 6.138 6.263 6.445
Rate of return 1.81% 2.98% 4.22% 3.83% 4.37% 4.62% 4.71% 4.85%
EPS 2 4.61 5.48 4.71 4.49 3.78 3.393 3.177 3.724
Distribution rate 90.3% 85.3% 120% 132% 161% 181% 197% 173%
Net sales 1 1,778 2,020 2,148 2,191 2,209 2,237 2,308 2,415
EBITDA 1 1,013 1,178 1,262 1,247 1,247 1,252 1,284 1,356
EBIT 1 464.9 628.9 688.9 656.8 619.4 598.5 617.5 680.5
Net income 1 530.1 633.7 549.1 523.9 443.2 393.7 373.8 386.4
Net Debt 1 4,462 4,376 4,499 4,938 5,345 5,836 6,013 6,222
Reference price 2 229.44 156.99 134.46 154.57 138.91 132.96 132.96 132.96
Nbr of stocks (in thousands) 115,138 115,477 116,688 116,880 117,082 116,385 - -
Announcement Date 2/2/22 A 2/1/23 A 2/7/24 A 2/5/25 A 2/4/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
39.19x9.53x17.03x4.62% 15.47B
33.36x11.69x19.26x3.7% 27.32B
50.38x10.77x18.07x4.08% 25.86B
48.06x13.17x19.84x3.56% 18.82B
38.88x8.87x17.09x3.99% 17.89B
54.95x8.32x18.75x3.67% 14.97B
44.32x10.98x17.64x4.37% 12.92B
32.53x10.18x20.94x3.28% 12.75B
45.14x9.2x17.34x3.83% 12.26B
109.08x9.81x17.87x3.76% 11.58B
Average 49.59x 10.25x 18.38x 3.89% 16.98B
Weighted average by Cap. 47.38x 10.45x 18.44x 3.89%

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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