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 15,828 - -
Change - -31.38% -13.45% 15.15% -9.98% -2.68% - -
Enterprise Value (EV) 1 30,880 22,505 20,189 23,004 21,609 21,630 21,772 21,863
Change - -27.12% -10.29% 13.95% -6.06% 0.1% 0.66% 0.42%
P/E 49.8x 28.6x 28.5x 34.4x 36.7x 40.1x 43x 36.1x
PBR - 3.02x 2.64x 3.12x 2.94x 3.09x 3.33x 3.5x
PEG - 1.5x -2x -7.36x -2.3x -3.9x -6.43x 1.9x
Capitalization / Revenue 14.9x 8.98x 7.3x 8.25x 7.36x 7.07x 6.86x 6.56x
EV / Revenue 17.4x 11.1x 9.4x 10.5x 9.78x 9.66x 9.44x 9.06x
EV / EBITDA 30.5x 19.1x 16x 18.4x 17.3x 17.3x 16.9x 16.1x
EV / EBIT 66.4x 35.8x 29.3x 35x 34.9x 36.2x 35.5x 32.7x
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% 4.52% 4.61% 4.76%
EPS 2 4.61 5.48 4.71 4.49 3.78 3.39 3.163 3.765
Distribution rate 90.3% 85.3% 120% 132% 161% 181% 198% 172%
Net sales 1 1,778 2,020 2,148 2,191 2,209 2,238 2,307 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 1 530.1 633.7 549.1 523.9 443.2 391.6 375.5 374.7
Net Debt 1 4,462 4,376 4,499 4,938 5,345 5,801 5,944 6,035
Reference price 2 229.44 156.99 134.46 154.57 138.91 136.00 136.00 136.00
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.($)
40.12x9.66x17.28x4.52% 15.83B
33.68x11.59x19x3.77% 26.84B
49.72x10.66x17.88x4.14% 25.51B
48.02x13.13x19.72x3.59% 18.71B
38.37x9.02x16.73x4.1% 17.45B
53.06x7.97x18.3x3.75% 14.63B
46.28x10.96x17.61x4.38% 12.9B
31.38x9.88x20.34x3.4% 12.29B
43.77x9x16.94x3.98% 11.88B
101.46x9.83x17.91x3.76% 11.62B
Average 48.59x 10.17x 18.17x 3.94% 16.77B
Weighted average by Cap. 46.72x 10.38x 18.22x 3.94%

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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