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 15,582 - -
Change - -31.38% -13.45% 15.15% -9.98% -4.19% - -
Enterprise Value (EV) 1 30,880 22,505 20,189 23,004 21,609 21,393 21,590 21,748
Change - -27.12% -10.29% 13.95% -6.06% -1% 0.92% 0.73%
P/E 49.8x 28.6x 28.5x 34.4x 36.7x 39.5x 42.8x 37.1x
PBR - 3.02x 2.64x 3.12x 2.94x 3.05x 3.31x 3.59x
PEG - 1.5x -2x -7.36x -2.3x -3.8x -5.58x 2.4x
Capitalization / Revenue 14.9x 8.98x 7.3x 8.25x 7.36x 6.96x 6.76x 6.48x
EV / Revenue 17.4x 11.1x 9.4x 10.5x 9.78x 9.56x 9.37x 9.05x
EV / EBITDA 30.5x 19.1x 16x 18.4x 17.3x 17.1x 16.9x 16.2x
EV / EBIT 66.4x 35.8x 29.3x 35x 34.9x 35.7x 33.7x 20.7x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.162 4.675 5.67 5.925 6.075 6.137 6.257 6.43
Rate of return 1.81% 2.98% 4.22% 3.83% 4.37% 4.58% 4.67% 4.8%
EPS 2 4.61 5.48 4.71 4.49 3.78 3.39 3.13 3.61
Distribution rate 90.3% 85.3% 120% 132% 161% 181% 200% 178%
Net sales 1 1,778 2,020 2,148 2,191 2,209 2,237 2,304 2,404
EBITDA 1 1,013 1,178 1,262 1,247 1,247 1,252 1,281 1,343
EBIT 1 464.9 628.9 688.9 656.8 619.4 599.8 641 1,049
Net income 1 530.1 633.7 549.1 523.9 443.2 396.3 365.9 380.9
Net Debt 1 4,462 4,376 4,499 4,938 5,345 5,812 6,008 6,166
Reference price 2 229.44 156.99 134.46 154.57 138.91 133.88 133.88 133.88
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.($)
39.5x9.56x17.09x4.58% 15.58B
32.88x11.61x19.11x3.75% 26.9B
50.43x10.66x17.92x4.15% 25.44B
48.5x13.23x19.88x3.53% 18.86B
38.49x8.84x16.99x4.03% 17.69B
55.12x8.34x18.8x3.66% 15.01B
42.12x10.98x17.59x4.39% 12.86B
32.13x10.19x21x3.27% 12.81B
44.22x9.07x17.08x3.91% 12.01B
108.12x9.89x18.02x3.73% 11.66B
Average 49.15x 10.24x 18.35x 3.9% 16.88B
Weighted average by Cap. 47.10x 10.42x 18.39x 3.91%

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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