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 15,570 - -
Change - -31.38% -13.45% 15.15% -9.98% -4.27% - -
Enterprise Value (EV) 1 30,880 22,505 20,189 23,004 21,609 21,313 21,510 21,753
Change - -27.12% -10.29% 13.95% -6.06% -1.37% 0.93% 1.13%
P/E 49.8x 28.6x 28.5x 34.4x 36.7x 36.6x 43.3x 39.1x
PBR - 3.02x 2.64x 3.12x 2.94x 3.04x 3.32x 3.62x
PEG - 1.5x -2x -7.36x -2.3x -12.24x -2.8x 3.7x
Capitalization / Revenue 14.9x 8.98x 7.3x 8.25x 7.36x 6.99x 6.79x 6.53x
EV / Revenue 17.4x 11.1x 9.4x 10.5x 9.78x 9.56x 9.39x 9.12x
EV / EBITDA 30.5x 19.1x 16x 18.4x 17.3x 17x 16.7x 14.4x
EV / EBIT 66.4x 35.8x 29.3x 35x 34.9x 36x 33.6x 18.7x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.162 4.675 5.67 5.925 6.075 6.139 6.268 5.943
Rate of return 1.81% 2.98% 4.22% 3.83% 4.37% 4.57% 4.67% 4.43%
EPS 2 4.61 5.48 4.71 4.49 3.78 3.667 3.101 3.43
Distribution rate 90.3% 85.3% 120% 132% 161% 167% 202% 173%
Net sales 1 1,778 2,020 2,148 2,191 2,209 2,228 2,292 2,386
EBITDA 1 1,013 1,178 1,262 1,247 1,247 1,256 1,289 1,515
EBIT 1 464.9 628.9 688.9 656.8 619.4 591.6 640.9 1,163
Net income 1 530.1 633.7 549.1 523.9 443.2 432.3 363.6 371.1
Net Debt 1 4,462 4,376 4,499 4,938 5,345 5,743 5,940 6,183
Reference price 2 229.44 156.99 134.46 154.57 138.91 134.20 134.20 134.20
Nbr of stocks (in thousands) 115,138 115,477 116,688 116,880 117,082 116,022 - -
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
36.19x9.5x16.85x4.64% 15.57B
32.2x11.25x18.48x3.96% 26.23B
49.04x10.25x17.29x4.36% 24.74B
47.77x12.78x19.33x3.69% 18.47B
33.15x8.78x16.73x4.04% 17.9B
54.39x8.66x19.22x3.76% 14.64B
31.27x9.97x20.39x3.41% 12.62B
35.75x9.08x17.04x3.89% 12.32B
39.14x10.43x16.97x4.67% 12.19B
102.25x9.58x16.79x3.91% 11.33B
Average 46.12x 10.03x 17.91x 4.03% 16.6B
Weighted average by Cap. 44.36x 10.18x 17.93x 4.05%

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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