Company Valuation: American Homes 4 Rent

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,583 10,653 13,020 13,827 11,912 12,187 - -
Change - -26.95% 22.22% 6.2% -13.85% 2.3% - -
Enterprise Value (EV) 1 18,415 15,100 17,422 18,638 16,900 17,309 17,569 17,730
Change - -18% 15.38% 6.98% -9.33% 2.42% 1.5% 0.92%
P/E 106x 42.5x 35.6x 34.6x 27.2x 35.8x 44.2x 49.6x
PBR 2.43x 1.64x 1.88x 1.93x 1.67x 2.01x 1.93x 1.95x
PEG - 0.6x 0.8x 4.99x 2.94x -1.8x -2.3x -4.5x
Capitalization / Revenue 11.2x 7.15x 8.02x 8x 6.44x 6.4x 6.2x 5.89x
EV / Revenue 14.1x 10.1x 10.7x 10.8x 9.13x 9.1x 8.93x 8.57x
EV / EBITDA 27.9x 20.6x 21.5x 20.4x 17.4x 17.1x 16.6x 16x
EV / EBIT 64x 45.6x 49.4x 46.5x 36.4x 34.5x 32.7x 29.9x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.4 0.72 0.88 1.04 1.2 1.317 1.389 1.46
Rate of return 0.92% 2.39% 2.45% 2.78% 3.74% 3.89% 4.1% 4.31%
EPS 2 0.41 0.71 1.01 1.08 1.18 0.9464 0.7663 0.6826
Distribution rate 97.6% 101% 87.1% 96.3% 102% 139% 181% 214%
Net sales 1 1,304 1,491 1,624 1,729 1,850 1,903 1,967 2,068
EBITDA 1 660.4 734.2 809.3 912.1 968.5 1,014 1,056 1,107
EBIT 1 287.5 331.2 352.7 400.7 464.1 501.9 538 593.6
Net income 1 135.3 250.8 366.2 398.5 439 383.3 303.7 311.7
Net Debt 1 3,832 4,447 4,402 4,811 4,987 5,122 5,382 5,543
Reference price 2 43.61 30.14 35.96 37.42 32.10 33.87 33.87 33.87
Nbr of stocks (in thousands) 334,396 353,445 362,056 369,507 371,106 359,815 - -
Announcement Date 24/2/22 23/2/23 22/2/24 20/2/25 19/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
33.93x11.35x18.66x3.87% 26.22B
50.11x10.4x17.54x4.27% 24.68B
48.1x12.88x19.43x3.66% 18.2B
33.91x8.8x16.77x4.02% 17.65B
35.86x9.56x16.98x4.64% 15.35B
54.41x8.52x19.08x3.75% 14.44B
31.46x10.03x20.54x3.36% 12.53B
36.06x9.15x17.16x3.86% 12.28B
40.21x10.53x17.74x4.61% 12.1B
Average 40.45x 10.13x 18.21x 4% 17.05B
Weighted average by Cap. 40.80x 10.29x 18.19x 4.01%

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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