Company Valuation: Hammerson plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,447 1,188 1,411 1,373 1,750 1,949 - -
Change - -17.88% 18.77% -2.73% 27.46% 11.42% - -
Enterprise Value (EV) 1 3,266 2,920 2,738 2,172 3,119 3,371 3,399 3,397
Change - -10.59% -6.26% -20.67% 43.64% 8.08% 0.81% -0.06%
P/E -3.35x -7.21x -28.4x -2.64x 7.17x 10.8x 10.4x 9.1x
PBR 0.53x 0.45x 0.57x 0.76x 0.79x 0.83x 0.8x 0.76x
PEG - 0.1x 0.4x -0x -0x -0.3x 2.34x 0.7x
Capitalization / Revenue 5.99x 5.52x 6.77x 7.26x 7.58x 6.94x 6.31x 6.03x
EV / Revenue 13.5x 13.6x 13.1x 11.5x 13.5x 12x 11x 10.5x
EV / EBITDA 22.3x 17.5x 16.5x 15.9x 21.6x 17.8x 16.3x 15.3x
EV / EBIT 21.2x 18.3x 16.8x 16.2x 21.6x 17.6x 16x 15.1x
EV / FCF -22.2x 88x 140x - 142x 80.9x 49.9x 42.1x
FCF Yield -4.51% 1.14% 0.72% - 0.7% 1.24% 2% 2.38%
Dividend per Share 2 0.04 0.02 0.15 0.1563 0.165 0.1852 0.1968 0.207
Rate of return 1.22% 0.84% 5.28% 5.59% 5% 5.54% 5.89% 6.2%
EPS 2 -0.98 -0.33 -0.1 -1.06 0.46 0.3087 0.3224 0.3671
Distribution rate -4.08% -6.06% -150% -14.7% 35.9% 60% 61% 56.4%
Net sales 1 241.6 215.2 208.4 189 230.9 281 308.8 323.4
EBITDA 1 146.4 166.4 166 136.9 144.2 189.7 208.1 221.6
EBIT 1 154.3 159.4 163 133.8 144.6 191.1 212.1 225.6
Net income 1 -429.1 -164.2 -51.4 -526.3 232.1 188.2 208.4 226.2
Net Debt 1 1,819 1,732 1,326 799 1,370 1,422 1,449 1,447
Reference price 2 3.280 2.380 2.840 2.796 3.300 3.342 3.342 3.342
Nbr of stocks (in thousands) 441,130 499,228 496,906 490,939 530,184 583,323 - -
Announcement Date 4/3/22 9/3/23 29/2/24 26/2/25 25/2/26 - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
38.39x18.29x23.22x3.32% 123B
30.6x13.85x17.62x4.48% 65.02B
35.8x14.47x14.94x6.03% 51.06B
17.75x15x17.09x1.16% 36.82B
16.07x25.01x27.38x3.57% 16.38B
25.99x10.48x14.46x4.84% 14.92B
7.92x11.67x14.3x6.3% 14.23B
17.95x16.04x23.31x5.37% 13.93B
28.77x11.06x16.15x4.24% 13.08B
Average 24.36x 15.10x 18.72x 4.37% 38.66B
Weighted average by Cap. 30.36x 15.90x 19.50x 4.02%

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