Company Valuation: Retail Estates sa

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 977.4 917 934.4 886.9 991.7 928.6 - -
Change - -6.18% 1.9% -5.09% 11.83% -6.36% - -
Enterprise Value (EV) 1 977.4 917 934.4 886.9 991.7 1,869 1,939 1,938
Change - -6.18% 1.9% -5.09% 11.83% 88.44% 3.77% -0.07%
P/E 7.22x 5.01x 7.56x 8.27x 8.03x 9.53x 9.87x 8.69x
PBR 1.06x 0.84x 0.8x 0.73x 0.77x 0.71x 0.7x 0.68x
PEG - 0.2x -0.2x -0.5x 0.6x -0.5x -2.85x 0.6x
Capitalization / Revenue 8.44x 7.29x 6.7x 6.18x 6.79x 6.1x 5.84x 5.63x
EV / Revenue 8.44x 7.29x 6.7x 6.18x 6.79x 12.3x 12.2x 11.7x
EV / EBITDA - - 8.37x - 8.4x 15x 14.8x 14.3x
EV / EBIT 10.1x 15.5x 8.37x 7.76x 8.4x 15.3x 15.1x 14.5x
EV / FCF - - 12.4x - 13.6x 105x 120x 44x
FCF Yield - - 8.04% - 7.33% 0.95% 0.84% 2.27%
Dividend per Share 2 4.6 4.9 5 5.1 5.2 5.25 5.29 5.33
Rate of return 6.22% 7.53% 7.69% 8.46% 7.88% 8.5% 8.56% 8.62%
EPS 2 10.23 12.99 8.6 7.29 8.22 6.485 6.26 7.112
Distribution rate 45% 37.7% 58.1% 70% 63.3% 81% 84.5% 74.9%
Net sales 1 115.8 125.9 139.5 143.4 146.1 152.3 159.1 165.1
EBITDA 1 - - 111.6 - 118 124.4 130.6 135.9
EBIT 1 96.93 59.28 111.6 114.3 118 122 128.8 133.2
Net income 1 - - 123 - 123 81.25 90.35 97.7
Net Debt 1 - - - - - 940.2 1,011 1,009
Reference price 2 73.90 65.10 65.00 60.30 66.00 61.80 61.80 61.80
Nbr of stocks (in thousands) 13,226 14,086 14,376 14,707 15,026 15,026 - -
Announcement Date 16/6/22 26/5/23 27/5/24 26/5/25 22/5/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.53x12.27x15.02x8.5% 1.04B
34.07x18.19x22.83x3.34% 122B
33.24x14.69x18.87x4.14% 70.46B
37.77x14.9x15.4x5.73% 53.7B
18.5x15.6x17.81x1.12% 38.84B
14x22.71x27.43x3.59% 16.54B
28.53x11.15x15.29x4.42% 16.29B
8.24x11.94x14.63x6.06% 14.69B
18.27x16.28x23.88x5.27% 14.23B
29.92x11.35x16.61x4.07% 13.63B
Average 23.21x 14.91x 18.78x 4.62% 36.11B
Weighted average by Cap. 29.71x 16.02x 19.73x 3.9%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Retail Estates sa

Historical PBR trend

Valuation ratios - PBR - Retail Estates sa

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Retail Estates sa

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Retail Estates sa


Year-on-year evolution of the Yield

Valuation ratios - Yield - Retail Estates sa
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