Company Valuation: PSP Swiss Property AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,215 4,977 5,394 5,912 6,582 6,807 - -
Change - -4.57% 8.39% 9.61% 11.33% 3.41% - -
Enterprise Value (EV) 1 8,200 8,041 8,718 9,240 9,906 10,029 10,020 10,017
Change - -1.94% 8.42% 5.99% 7.21% 1.23% -0.09% -0.03%
P/E 8.77x 15.1x 26x 15.8x 16.1x 14.6x 18.6x 18.8x
PBR 1.04x 0.96x 1.03x 1.09x 1.17x 1.16x 1.13x 1.1x
PEG - -0.3x -0.7x 0.2x 1.78x 1x -0.9x -22.59x
Capitalization / Revenue 16.8x 15.7x 16.3x 16.9x 18.8x 19.2x 19x 18.7x
EV / Revenue 26.5x 25.4x 26.3x 26.4x 28.4x 28.3x 27.9x 27.6x
EV / EBITDA 29.4x 27.4x 29.3x 30.3x 32.8x 32.2x 31.7x 31.4x
EV / EBIT 29.6x 27.5x 29.4x 30.4x 32.9x 31.9x 32.1x 31.7x
EV / FCF 42.6x 85.3x -114x 52.9x 53.9x 60.1x 60.9x 54.8x
FCF Yield 2.35% 1.17% -0.88% 1.89% 1.85% 1.66% 1.64% 1.83%
Dividend per Share 2 3.75 3.8 3.85 3.9 3.95 4.008 4.065 4.119
Rate of return 3.3% 3.5% 3.27% 3.03% 2.75% 2.7% 2.74% 2.78%
EPS 2 12.97 7.19 4.53 8.17 8.91 10.18 7.972 7.905
Distribution rate 28.9% 52.9% 85% 47.7% 44.3% 39.4% 51% 52.1%
Net sales 1 309.6 316.2 331.9 350 349.2 353.9 359.1 363.2
EBITDA 1 278.8 293.8 297.7 304.9 302 311.3 315.7 318.6
EBIT 1 277.4 292.5 296.6 304 300.9 314.4 312.1 315.9
Net income 1 595 330 207.6 374.9 408.5 367.8 330.4 321.5
Net Debt 1 2,985 3,065 3,324 3,328 3,324 3,222 3,213 3,210
Reference price 2 113.70 108.50 117.60 128.90 143.50 148.40 148.40 148.40
Nbr of stocks (in thousands) 45,868 45,868 45,868 45,868 45,868 45,868 - -
Announcement Date 22/02/22 21/02/23 27/02/24 25/02/25 24/02/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.58x28.34x32.21x2.7% 8.29B
14.23x4.6x12.38x3.56% 40.53B
5.75x0.77x1.62x8.61% 27.96B
17.85x3.95x15.88x1.37% 27.62B
7.92x1.42x7.85x4.46% 26.47B
13.72x3.07x14.71x2.55% 25.39B
10.31x2.02x8.33x4.07% 20.72B
8.17x0.91x3.3x2.73% 20.9B
13.01x6.39x16.79x1.67% 18.7B
37.97x13.91x35.01x3.13% 18.33B
Average 14.35x 6.54x 14.81x 3.49% 23.49B
Weighted average by Cap. 13.76x 4.70x 12.90x 3.65%

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

  1. Stock Market
  2. Stocks
  3. PSPN Stock
  4. Valuation PSP Swiss Property AG
-40%: Exceptional extension
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