Company Valuation: Retail Estates sa

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 977.4 917 934.4 886.9 991.7 984.2 - -
Change - -6.18% 1.9% -5.09% 11.83% -0.76% - -
Enterprise Value (EV) 1 977.4 917 934.4 886.9 991.7 1,898 1,961 1,996
Change - -6.18% 1.9% -5.09% 11.83% 91.4% 3.32% 1.78%
P/E 7.22x 5.01x 7.56x 8.27x 8.03x 10.3x 9.97x 8.68x
PBR 1.06x 0.84x 0.8x 0.73x 0.77x 0.75x 0.74x 0.72x
PEG - 0.2x -0.2x -0.5x 0.6x -0.5x 3.41x 0.6x
Capitalization / Revenue 8.44x 7.29x 6.7x 6.18x 6.79x 6.49x 6.22x 5.98x
EV / Revenue 8.44x 7.29x 6.7x 6.18x 6.79x 12.5x 12.4x 12.1x
EV / EBITDA - - 8.37x - 8.4x 15.4x 15.2x 14.7x
EV / EBIT 10.1x 15.5x 8.37x 7.76x 8.4x 15.6x 15.3x 15.1x
EV / FCF - - 12.4x - 13.6x 107x 57.3x 45.4x
FCF Yield - - 8.04% - 7.33% 0.94% 1.75% 2.2%
Dividend per Share 2 4.6 4.9 5 5.1 5.2 5.24 5.28 5.325
Rate of return 6.22% 7.53% 7.69% 8.46% 7.88% 8% 8.06% 8.13%
EPS 2 10.23 12.99 8.6 7.29 8.22 6.383 6.57 7.545
Distribution rate 45% 37.7% 58.1% 70% 63.3% 82.1% 80.4% 70.6%
Net sales 1 115.8 125.9 139.5 143.4 146.1 151.7 158.2 164.5
EBITDA 1 - - 111.6 - 118 123 129.4 136
EBIT 1 96.93 59.28 111.6 114.3 118 121.3 128.1 132.3
Net income 1 - - 123 - 123 95.75 99.65 108
Net Debt 1 - - - - - 914 977 1,012
Reference price 2 73.90 65.10 65.00 60.30 66.00 65.50 65.50 65.50
Nbr of stocks (in thousands) 13,226 14,086 14,376 14,707 15,026 15,026 - -
Announcement Date 6/16/22 A 5/26/23 A 5/27/24 A 5/26/25 A 5/22/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.26x12.52x15.43x8% 1.15B
33.74x14.54x19.08x4.19% 69.53B
28.18x11.03x15.06x4.51% 15.97B
30.31x11.53x16.75x4.02% 13.79B
15.74x11.28x16.4x6.37% 13.01B
38.87x15.49x18.7x4.36% 9.09B
24.91x9.87x14.68x4.27% 8.93B
21.87x14.07x15.44x5.39% 8.7B
14.33x15.34x16.82x5.45% 8.28B
-129.58x11.78x15.98x2.86% 6.8B
Average 8.86x 12.74x 16.43x 4.94% 15.52B
Weighted average by Cap. 22.12x 13.30x 17.47x 4.51%

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

  1. Stock Market
  2. Stocks
  3. RET Stock
  4. Valuation Retail Estates sa