Company Valuation: Canadian Apartment Properties Real Estate Investment Trust

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 10,502 7,343 8,264 7,098 5,739 5,135 - -
Change - -30.08% 12.54% -14.11% -19.15% -10.53% - -
Enterprise Value (EV) 1 10,502 14,347 8,264 7,098 5,739 11,247 11,306 5,135
Change - 36.62% -42.4% -14.11% -19.15% 96% 0.53% -54.59%
P/E 7.49x 547x -20.2x 24.6x 29.9x -108x 13.1x 12.6x
PBR - - - - - - - -
PEG - -5.5x 0x -0x -1x 1x -0x 3.21x
Capitalization / Revenue 11.3x 7.29x 7.76x 6.38x 5.72x 5.18x 5.08x 4.95x
EV / Revenue 11.3x 14.2x 7.76x 6.38x 5.72x 11.3x 11.2x 4.95x
EV / EBITDA 18.3x 23.4x 13x 10.5x 9.52x 18.9x 18.2x 7.99x
EV / EBIT - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.409 1.45 1.45 1.471 1.546 1.564 1.588 1.66
Rate of return 2.35% 3.4% 2.97% 3.45% 4.19% 4.69% 4.76% 4.98%
EPS 2 8.003 0.078 -2.419 1.73 1.232 -0.31 2.55 2.65
Distribution rate 17.6% 1,859% -59.9% 85% 125% -505% 62.3% 62.6%
Net sales 1 933.1 1,007 1,065 1,113 1,003 991.9 1,011 1,037
EBITDA 1 575.2 612.4 636.2 673.1 603.1 596.1 619.7 642.3
EBIT - - - - - - - -
Net income 1 1,393 13.64 -411.6 292.7 197.1 -49.2 393.7 410.4
Net Debt 1 - 7,004 - - - 6,113 6,172 -
Reference price 2 59.96 42.68 48.80 42.63 36.87 33.33 33.33 33.33
Nbr of stocks (in thousands) 175,145 172,046 169,339 166,492 155,642 154,051 - -
Announcement Date 23/02/22 22/02/23 22/02/24 13/02/25 12/02/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-107.52x11.34x18.87x4.69% 3.7B
50.47x13.58x23.84x - 50.79B
49.72x12.67x19.39x3.65% 18.25B
29.57x8.67x16.59x4.11% 17.27B
35.13x9.33x16.54x4.74% 15.04B
-47x9.01x19.88x3.64% 14.97B
31x9.93x20.32x3.38% 12.37B
35.16x9x16.87x3.93% 12.07B
36.94x10.44x16.99x4.68% 11.93B
91.73x9.36x16.73x3.99% 10.91B
Average 20.52x 10.33x 18.60x 4.09% 16.73B
Weighted average by Cap. 33.82x 11.03x 19.77x 4.03%

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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