Company Valuation: Agree Realty Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,431 6,269 6,315 7,277 8,265 9,625 - -
Change - 15.43% 0.73% 15.24% 13.57% 16.45% - -
Enterprise Value (EV) 1 7,076 8,181 8,715 10,083 11,568 13,560 13,844 14,092
Change - 15.63% 6.52% 15.69% 14.72% 17.22% 2.1% 1.79%
P/E 40.1x 38.8x 37x 39.6x 40.7x 41.3x 39.4x 39.5x
PBR - 1.38x 1.22x 1.37x 1.38x 1.53x 1.5x 1.49x
PEG - 13.81x -5.21x 8.41x -72.45x 4.23x 8.03x -126.2x
Capitalization / Revenue 16x 14.6x 11.7x 11.8x 11.5x 11.4x 10.1x 8.91x
EV / Revenue 20.9x 19x 16.2x 16.3x 16.1x 16.1x 14.6x 13x
EV / EBITDA 26x 23.6x 20x 20x 19.7x 19.4x 17.2x 15.6x
EV / EBIT 40x 38.3x 33.6x 33.8x 33.3x 31.9x 28.9x 26.7x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 2.604 2.805 2.919 3 3.081 3.191 3.298 3.37
Rate of return 3.65% 3.95% 4.64% 4.26% 4.28% 3.98% 4.11% 4.2%
EPS 2 1.78 1.83 1.7 1.78 1.77 1.943 2.038 2.032
Distribution rate 146% 153% 172% 169% 174% 164% 162% 166%
Net sales 1 339.3 429.8 537.5 617.1 718.4 841.5 951.1 1,081
EBITDA 1 272.2 346.8 436 505 586.2 698.2 806 905.4
EBIT 1 177.1 213.8 259.7 298 346.9 424.7 478.4 528.4
Net income 1 120.1 145 162.5 181.8 196.9 252.9 296.6 312.6
Net Debt 1 1,644 1,912 2,400 2,806 3,303 3,935 4,220 4,468
Reference price 2 71.36 70.93 62.95 70.45 72.03 80.26 80.26 80.26
Nbr of stocks (in thousands) 76,110 88,386 100,323 103,300 114,740 119,917 - -
Announcement Date 22/02/22 14/02/23 13/02/24 11/02/25 10/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
41.31x16.11x19.42x3.98% 9.62B
35.51x15.36x19.74x3.98% 73.55B
31.69x11.76x16.52x4.02% 17.6B
33.26x12.39x18.18x3.7% 14.99B
27.82x10.58x15.62x3.8% 10.03B
23.94x14.67x16.14x4.95% 9.33B
12.25x17.33x19.06x4.64% 8.65B
-190.35x12.57x19.35x2.68% 7.63B
11.52x7.87x10.41x8.5% 6.72B
81.56x11.35x16.91x3.91% 6.06B
Average 10.85x 13.00x 17.14x 4.42% 16.42B
Weighted average by Cap. 23.10x 13.93x 18.24x 4.16%

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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