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 12,068 - -
Change - -26.95% 22.22% 6.2% -13.85% 1.31% - -
Enterprise Value (EV) 1 18,415 15,100 17,422 18,638 16,900 17,141 17,390 17,519
Change - -18% 15.38% 6.98% -9.33% 1.43% 1.45% 0.74%
P/E 106x 42.5x 35.6x 34.6x 27.2x 35.2x 43.2x 48.7x
PBR 2.43x 1.64x 1.88x 1.93x 1.67x 1.98x 1.9x 1.92x
PEG - 0.6x 0.8x 4.99x 2.94x -1.8x -2.3x -4.3x
Capitalization / Revenue 11.2x 7.15x 8.02x 8x 6.44x 6.33x 6.12x 5.83x
EV / Revenue 14.1x 10.1x 10.7x 10.8x 9.13x 9x 8.82x 8.46x
EV / EBITDA 27.9x 20.6x 21.5x 20.4x 17.4x 16.9x 16.4x 15.8x
EV / EBIT 64x 45.6x 49.4x 46.5x 36.4x 34.7x 32.9x 30.2x
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% 3.93% 4.14% 4.35%
EPS 2 0.41 0.71 1.01 1.08 1.18 0.954 0.7766 0.6889
Distribution rate 97.6% 101% 87.1% 96.3% 102% 138% 179% 212%
Net sales 1 1,304 1,491 1,624 1,729 1,850 1,905 1,971 2,070
EBITDA 1 660.4 734.2 809.3 912.1 968.5 1,016 1,058 1,108
EBIT 1 287.5 331.2 352.7 400.7 464.1 494 528.2 580.9
Net income 1 135.3 250.8 366.2 398.5 439 380 294.9 275.5
Net Debt 1 3,832 4,447 4,402 4,811 4,987 5,073 5,321 5,450
Reference price 2 43.61 30.14 35.96 37.42 32.10 33.54 33.54 33.54
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
50.47x13.58x23.84x - 50.79B
49.72x12.68x19.38x3.65% 18.25B
29.57x8.67x16.59x4.11% 17.27B
-47x9.01x19.88x3.64% 14.97B
35.13x9.33x16.54x4.74% 15.04B
31x9.92x20.32x3.39% 12.37B
35.16x9x16.87x3.93% 12.07B
36.94x10.44x16.99x4.68% 11.93B
91.73x9.36x16.73x3.99% 10.91B
Average 34.75x 10.22x 18.57x 4.02% 18.18B
Weighted average by Cap. 37.01x 11.03x 19.79x 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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  5. Valuation American Homes 4 Rent