Company Valuation: Grand City Properties S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,444 1,516 1,755 2,026 1,733 1,710 - -
Change - -55.99% 15.74% 15.44% -14.44% -1.32% - -
Enterprise Value (EV) 1 6,787 5,022 4,956 4,946 1,733 4,552 4,592 1,710
Change - -26% -1.31% -0.21% -64.96% 162.64% 0.88% -62.76%
P/E ratio 7.2x 12.1x -3.2x 10.3x 3.69x 5.49x 6.42x 7.24x
PBR 0.66x 0.3x 0.37x 0.41x - 0.36x 0.36x 0.38x
PEG - -0.2x 0x -0x 0x -0.2x -0.4x -0.6x
Capitalization / Revenue 6.57x 2.6x 2.89x 3.39x 2.88x 2.74x 2.65x 2.63x
EV / Revenue 12.9x 8.62x 8.16x 8.28x 2.88x 7.3x 7.11x 2.63x
EV / EBITDA 22.7x 16.3x 15.5x 14.8x 5.1x 13.3x 13x 4.49x
EV / EBIT 6.88x 12.2x -8.52x 13.4x 2.88x 7.25x 8.75x 3.38x
EV / FCF 46.6x 35.6x 29.1x 24.9x - 21.8x 37.3x 11.8x
FCF Yield 2.15% 2.81% 3.43% 4.02% - 4.59% 2.68% 8.48%
Dividend per Share 2 0.834 - - 0.81 - 0.5896 0.6259 0.4469
Rate of return 3.99% - - 6.89% - 6.07% 6.45% 4.6%
EPS 2 2.9 0.76 -3.18 1.14 2.67 1.77 1.513 1.341
Distribution rate 28.8% - - 71.1% - 33.3% 41.4% 33.3%
Net sales 1 524.6 582.5 607.7 597 601.5 623.4 645.9 649.1
EBITDA 1 298.6 308 320 335 339.6 341 353.8 381
EBIT 1 986 412.8 -581.6 370.4 602.7 628 524.6 505.7
Net income 1 523.5 179.1 -638.1 242 587.6 297.6 273 257.6
Net Debt 1 3,342 3,506 3,202 2,921 - 2,842 2,882 -
Reference price 2 20.880 9.190 10.180 11.750 9.840 9.710 9.710 9.710
Nbr of stocks (in thousands) 164,962 164,963 172,356 172,386 176,126 176,126 - -
Announcement Date 16/03/22 16/03/23 13/03/24 11/03/25 03/03/26 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
5.49x7.3x13.35x6.07% 1.98B
87.01x - - - 41.79B
7.86x17.76x21.86x5.2% 23.77B
4.19x0.27x0.54x7.04% 15.9B
11.29x3.85x9.58x-.--% 15.04B
18.01x - - 5.91% 9.49B
-1.75x1.34x-28.1x-.--% 7.57B
9.71x0.96x7.87x2.01% 7.31B
5.6x14.57x21.19x5.05% 5.33B
25.57x - - - 4.4B
Average 17.30x 6.58x 6.61x 3.91% 13.26B
Weighted average by Cap. 33.50x 7.72x 8.54x 3.99%

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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  4. Valuation Grand City Properties S.A.
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