Company Valuation: Alexandria Real Estate Equities, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 34,551 23,903 22,030 17,048 8,458 9,181 - -
Change - -30.82% -7.84% -22.61% -50.39% 8.55% - -
Enterprise Value (EV) 1 42,981 33,237 32,727 28,740 20,310 20,048 20,017 20,101
Change - -22.67% -1.54% -12.18% -29.33% -1.29% -0.15% 0.42%
P/E 58.4x 45.8x 235x 54.2x -5.8x 36x -54.1x -54.1x
PBR 2.02x 1.31x 1.17x 0.94x 0.54x 0.53x 0.58x 0.61x
PEG - -2.7x -2.8x 0x 0x -0x 0x 2,107.58x
Capitalization / Revenue 16.3x 9.23x 7.63x 5.47x 2.79x 3.49x 3.64x 3.52x
EV / Revenue 20.3x 12.8x 11.3x 9.22x 6.71x 7.62x 7.94x 7.7x
EV / EBITDA 32.1x 20.4x 17.9x 14.1x 10.2x 12.2x 13.8x 12.8x
EV / EBIT 83x 53.1x 44.6x 34.4x 31.9x 54.4x 69.3x 59.6x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.48 4.72 4.96 5.19 4.68 2.881 2.881 2.89
Rate of return 2.01% 3.24% 3.91% 5.32% 9.56% 5.47% 5.47% 5.48%
EPS 2 3.82 3.18 0.54 1.8 -8.44 1.462 -0.9739 -0.9737
Distribution rate 117% 148% 919% 288% -55.5% 197% -296% -297%
Net sales 1 2,114 2,589 2,886 3,116 3,027 2,631 2,522 2,609
EBITDA 1 1,339 1,629 1,827 2,039 1,987 1,637 1,449 1,567
EBIT 1 518.1 626.4 733.7 836.4 636.4 368.2 288.9 337.1
Net income 1 563.4 513.3 92.44 309.6 -1,438 266.9 -156.8 -195.4
Net Debt 1 8,431 9,335 10,697 11,692 11,851 10,866 10,836 10,920
Reference price 2 222.96 145.67 126.77 97.55 48.94 52.69 52.69 52.69
Nbr of stocks (in thousands) 154,964 164,087 173,775 174,762 172,825 174,248 - -
Announcement Date 31/01/22 30/01/23 29/01/24 27/01/25 26/01/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
40.24x15.69x16.05x5.29% 58.23B
16.65x23.35x27.98x3.46% 17.3B
8.42x12.14x14.88x5.69% 16.27B
19.53x16.48x23.66x5.18% 14.57B
9.94x13.61x16.17x5.21% 12.6B
27.65x10.97x17.27x3.9% 10.18B
7.76x20.31x27.48x3.2% 9.53B
14.57x11.79x18.33x6.38% 9.35B
36.05x7.62x12.25x5.47% 9.18B
Average 20.09x 14.66x 19.34x 4.86% 17.47B
Weighted average by Cap. 25.45x 15.34x 18.64x 4.97%

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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