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 15,741 - -
Change - -31.38% -13.45% 15.15% -9.98% -3.21% - -
Enterprise Value (EV) 1 30,880 22,505 20,189 23,004 21,609 21,543 21,685 21,776
Change - -27.12% -10.29% 13.95% -6.06% -0.31% 0.66% 0.42%
P/E 49.8x 28.6x 28.5x 34.4x 36.7x 39.8x 43.1x 35.9x
PBR - 3.02x 2.64x 3.12x 2.94x 3.08x 3.31x 3.48x
PEG - 1.5x -2x -7.36x -2.3x -3.98x -5.49x 1.8x
Capitalization / Revenue 14.9x 8.98x 7.3x 8.25x 7.36x 7.03x 6.82x 6.52x
EV / Revenue 17.4x 11.1x 9.4x 10.5x 9.78x 9.62x 9.4x 9.03x
EV / EBITDA 30.5x 19.1x 16x 18.4x 17.3x 17.2x 16.9x 16x
EV / EBIT 66.4x 35.8x 29.3x 35x 34.9x 36x 35.4x 32.6x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.162 4.675 5.67 5.925 6.075 6.145 6.272 6.475
Rate of return 1.81% 2.98% 4.22% 3.83% 4.37% 4.54% 4.64% 4.79%
EPS 2 4.61 5.48 4.71 4.49 3.78 3.402 3.135 3.765
Distribution rate 90.3% 85.3% 120% 132% 161% 181% 200% 172%
Net sales 1 1,778 2,020 2,148 2,191 2,209 2,238 2,306 2,413
EBITDA 1 1,013 1,178 1,262 1,247 1,247 1,252 1,285 1,360
EBIT 1 464.9 628.9 688.9 656.8 619.4 598.3 613.2 668.4
Net income 1 530.1 633.7 549.1 523.9 443.2 391.3 373.9 374.7
Net Debt 1 4,462 4,376 4,499 4,938 5,345 5,801 5,944 6,035
Reference price 2 229.44 156.99 134.46 154.57 138.91 135.25 135.25 135.25
Nbr of stocks (in thousands) 115,138 115,477 116,688 116,880 117,082 116,385 - -
Announcement Date 02/02/22 01/02/23 07/02/24 05/02/25 04/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
39.76x9.62x17.2x4.54% 15.74B
33.35x11.7x19.17x3.72% 27.18B
50.16x10.74x18x4.1% 25.74B
48.14x13.2x19.84x3.56% 18.86B
38.67x8.76x16.82x4.07% 17.58B
53.12x7.98x18.32x3.75% 14.65B
44.86x10.98x17.65x4.38% 12.91B
31.44x9.89x20.37x3.39% 12.31B
44.21x9.05x17.03x3.94% 11.97B
101.16x9.81x17.87x3.78% 11.58B
Average 48.49x 10.17x 18.23x 3.92% 16.85B
Weighted average by Cap. 46.62x 10.39x 18.29x 3.92%

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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