Company Valuation: Gecina

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 9,059 7,022 8,134 6,688 5,992 4,447 - -
Change - -22.49% 15.83% -17.78% -10.41% -25.78% - -
Enterprise Value (EV) 1 15,957 14,199 14,334 13,188 12,746 11,239 11,453 11,468
Change - -11.02% 0.95% -7.99% -3.36% -11.82% 1.91% 0.13%
P/E 10.7x 41.4x -4.56x 21.7x 13.4x 8.6x 7.93x 7.23x
PBR 0.7x 0.55x 0.77x 0.64x 0.57x 0.42x 0.41x 0.41x
PEG - -0.5x 0x -0x 0.3x 0.5x 0.94x 0.74x
Capitalization / Revenue 14.8x 11.2x 12.2x 9.63x 8.41x 6.23x 6.12x 5.81x
EV / Revenue 26x 22.7x 21.5x 19x 17.9x 15.7x 15.8x 15x
EV / EBITDA 33.5x 28.6x 26.8x 23.3x 21.6x 19x 19x 18.1x
EV / EBIT 34.3x 28.9x 28.4x 23.8x 21.9x 19.1x 18.9x 18.1x
EV / FCF 23.6x 64.9x 99.2x 90.8x 47.4x 23.1x 30.2x 16.9x
FCF Yield 4.23% 1.54% 1.01% 1.1% 2.11% 4.33% 3.31% 5.91%
Dividend per Share 2 5.3 5.3 5.3 5.45 5.5 5.603 5.674 5.847
Rate of return 4.31% 5.57% 4.81% 6.03% 6.8% 9.33% 9.45% 9.74%
EPS 2 11.53 2.299 -24.15 4.175 6.028 6.983 7.574 8.309
Distribution rate 46% 231% -21.9% 131% 91.2% 80.2% 74.9% 70.4%
Net sales 1 613.3 625.9 666.8 694.5 712.6 714.3 727.2 765.6
EBITDA 1 476.4 496.5 535 565.7 589.7 592.6 604 634.6
EBIT 1 464.6 491.5 505.3 554 582.2 588.4 606.7 635.2
Net income 1 849.3 169.6 -1,787 309.8 448.2 375.6 668.9 690.5
Net Debt 1 6,898 7,177 6,200 6,500 6,754 6,791 7,006 7,021
Reference price 2 122.90 95.15 110.10 90.45 80.90 60.05 60.05 60.05
Nbr of stocks (in thousands) 73,714 73,802 73,881 73,945 74,065 74,060 - -
Announcement Date 17/02/22 15/02/23 14/02/24 13/02/25 10/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.91x15.96x19.24x9% 5.24B
21.33x12.73x14.9x5.8% 14.72B
7.73x13.33x17.22x6.73% 6.14B
11.94x14.4x15.35x5.34% 6.09B
19.6x12.81x14.4x4.92% 5.58B
9.6x14.38x15.37x7.22% 5.57B
8.07x13.5x17.21x6.13% 5.42B
12.69x11.39x13.05x5.45% 5.08B
18.31x9.84x12.49x6.59% 4.3B
Average 13.13x 13.15x 15.47x 6.35% 6.46B
Weighted average by Cap. 14.29x 13.17x 15.46x 6.25%

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