Company Valuation: Retail Estates sa

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 977.4 917 934.4 886.9 991.7 994.7 - -
Change - -6.18% 1.9% -5.09% 11.83% 0.3% - -
Enterprise Value (EV) 1 977.4 917 934.4 886.9 991.7 1,909 1,972 2,007
Change - -6.18% 1.9% -5.09% 11.83% 92.46% 3.3% 1.78%
P/E 7.22x 5.01x 7.56x 8.27x 8.03x 10.3x 10x 8.71x
PBR 1.06x 0.84x 0.8x 0.73x 0.77x 0.75x 0.74x 0.72x
PEG - 0.2x -0.2x -0.5x 0.6x -0.5x 3.42x 0.6x
Capitalization / Revenue 8.44x 7.29x 6.7x 6.18x 6.79x 6.56x 6.29x 6.05x
EV / Revenue 8.44x 7.29x 6.7x 6.18x 6.79x 12.6x 12.5x 12.2x
EV / EBITDA - - 8.37x - 8.4x 15.5x 15.2x 14.8x
EV / EBIT 10.1x 15.5x 8.37x 7.76x 8.4x 15.7x 15.4x 15.2x
EV / FCF - - 12.4x - 13.6x 107x 57.6x 45.6x
FCF Yield - - 8.04% - 7.33% 0.93% 1.74% 2.19%
Dividend per Share 2 4.6 4.9 5 5.1 5.2 5.24 5.28 5.325
Rate of return 6.22% 7.53% 7.69% 8.46% 7.88% 7.98% 8.04% 8.11%
EPS 2 10.23 12.99 8.6 7.29 8.22 6.383 6.57 7.545
Distribution rate 45% 37.7% 58.1% 70% 63.3% 82.1% 80.4% 70.6%
Net sales 1 115.8 125.9 139.5 143.4 146.1 151.7 158.2 164.5
EBITDA 1 - - 111.6 - 118 123 129.4 136
EBIT 1 96.93 59.28 111.6 114.3 118 121.3 128.1 132.3
Net income 1 - - 123 - 123 95.75 99.65 108
Net Debt 1 - - - - - 914 977 1,012
Reference price 2 73.90 65.10 65.00 60.30 66.00 65.70 65.70 65.70
Nbr of stocks (in thousands) 13,226 14,086 14,376 14,707 15,026 15,026 - -
Announcement Date 16/06/22 26/05/23 27/05/24 26/05/25 22/05/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.29x12.54x15.45x7.98% 1.12B
36.28x15.6x20.05x3.89% 75.13B
32.03x11.85x16.39x3.98% 17.79B
33.36x12.41x18.26x3.69% 15.03B
15.66x11.24x16.35x6.4% 12.93B
27.53x10.51x15.51x3.84% 9.93B
41.4x16.14x19.45x3.97% 9.65B
24.02x14.7x16.17x4.94% 9.36B
12.07x17.09x18.78x4.71% 8.5B
-193.91x12.71x19.58x2.63% 7.78B
Average 3.87x 13.48x 17.60x 4.6% 16.72B
Weighted average by Cap. 20.95x 14.18x 18.58x 4.15%

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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