Financials Public Storage Sao Paulo

Equities

P1SA34

BRP1SABDR008

Specialized REITs

Delayed Sao Paulo 14:10:20 28/05/2024 BST 5-day change 1st Jan Change
282.8 BRL +5.36% Intraday chart for Public Storage -1.89% -3.73%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 37,200 40,372 65,681 49,212 53,630 47,866 - -
Enterprise Value (EV) 1 38,693 42,659 72,421 55,308 62,363 58,156 58,420 58,937
P/E ratio 29.2 x 36.7 x 37.9 x 11.9 x 27.6 x 26.1 x 24.6 x 23 x
Yield 3.76% 3.46% 2.14% 7.55% 3.93% 4.42% 4.6% 4.64%
Capitalization / Revenue 13.1 x 13.8 x 20.5 x 11.8 x 11.9 x 10.1 x 9.69 x 9.26 x
EV / Revenue 13.6 x 14.6 x 22.6 x 13.2 x 13.8 x 12.3 x 11.8 x 11.4 x
EV / EBITDA 19.6 x 21.7 x 30.3 x 18.3 x 19.1 x 16.9 x 16.3 x 16 x
EV / FCF 33,416,538 x - - 23,596,872 x - - - -
FCF Yield 0% - - 0% - - - -
Price to Book 4.1 x 4.71 x 7.04 x 4.87 x 5.35 x 6.84 x 7.25 x 9.16 x
Nbr of stocks (in thousands) 174,680 174,822 175,355 175,638 175,836 175,725 - -
Reference price 2 213.0 230.9 374.6 280.2 305.0 272.4 272.4 272.4
Announcement Date 25/02/20 24/02/21 22/02/22 21/02/23 20/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,847 2,915 3,204 4,182 4,518 4,731 4,940 5,172
EBITDA 1 1,978 1,964 2,394 3,015 3,263 3,434 3,582 3,694
EBIT 1 1,465 1,411 1,681 2,126 2,293 2,277 2,381 2,492
Operating Margin 51.47% 48.41% 52.46% 50.84% 50.75% 48.13% 48.2% 48.19%
Earnings before Tax (EBT) 1 1,526 1,361 1,960 4,366 2,171 2,056 2,182 2,296
Net income 1 1,273 1,098 1,732 4,142 1,949 1,830 1,940 2,091
Net margin 44.71% 37.68% 54.08% 99.05% 43.14% 38.67% 39.28% 40.44%
EPS 2 7.290 6.290 9.870 23.50 11.06 10.42 11.06 11.84
Free Cash Flow 1,158 - - 2,344 - - - -
FCF margin 40.67% - - 56.04% - - - -
FCF Conversion (EBITDA) 58.54% - - 77.75% - - - -
FCF Conversion (Net income) 90.97% - - 56.58% - - - -
Dividend per Share 2 8.000 8.000 8.000 21.15 12.00 12.03 12.52 12.65
Announcement Date 25/02/20 24/02/21 22/02/22 21/02/23 20/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 869.7 973.4 1,032 1,088 1,089 1,094 1,120 1,144 1,160 1,157 1,182 1,206 1,205 1,216 1,260
EBITDA 1 665.2 689.4 748 781.6 795.5 796.3 814.5 826.3 833.1 807.7 862.3 876.5 867.7 849.8 894.7
EBIT 1 459.9 467.2 529.3 560.8 569 574.7 592.3 587.5 545.6 522.5 583.3 592.7 576.3 561.8 605.6
Operating Margin 52.88% 48% 51.29% 51.54% 52.27% 52.52% 52.9% 51.36% 47.04% 45.15% 49.35% 49.14% 47.83% 46.21% 48.07%
Earnings before Tax (EBT) 1 622 516.3 653.8 2,769 414.9 520.4 - 613.3 444.3 513.2 512.9 520.9 511.5 521.8 570.8
Net income 1 558.1 464.1 603.4 2,712 362.6 467.6 528.3 563.2 389.7 459.2 453.4 462.6 453.6 458 508.6
Net margin 64.17% 47.68% 58.46% 249.25% 33.31% 42.73% 47.18% 49.24% 33.59% 39.68% 38.35% 38.36% 37.65% 37.67% 40.37%
EPS 2 3.170 2.630 3.420 15.38 2.060 2.650 3.000 3.200 2.210 2.600 2.602 2.648 2.611 2.598 2.883
Dividend per Share 2 2.000 2.000 2.000 15.15 2.000 2.000 3.000 3.000 3.000 - 3.000 3.000 3.000 3.115 3.115
Announcement Date 22/02/22 03/05/22 04/08/22 01/11/22 21/02/23 03/05/23 02/08/23 30/10/23 20/02/24 30/04/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,493 2,287 6,741 6,096 8,733 10,291 10,554 11,071
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.7547 x 1.164 x 2.816 x 2.022 x 2.677 x 2.997 x 2.947 x 2.997 x
Free Cash Flow 1,158 - - 2,344 - - - -
ROE (net income / shareholders' equity) 14% 12.5% 19.4% 42.7% 19.4% 29.7% 30.2% 30.3%
ROA (Net income/ Total Assets) 11.4% 9.48% 11.9% 23.7% 10.4% 9.21% 10.6% 12%
Assets 1 11,147 11,591 14,599 17,467 18,681 19,857 18,345 17,471
Book Value Per Share 2 52.00 49.00 53.20 57.50 57.00 39.80 37.60 29.70
Cash Flow per Share 2 - - - 17.70 - 17.20 17.70 18.40
Capex 1 910 1,152 5,599 773 - 856 716 752
Capex / Sales 31.96% 39.51% 174.78% 18.49% - 18.1% 14.5% 14.54%
Announcement Date 25/02/20 24/02/21 22/02/22 21/02/23 20/02/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
19
Last Close Price
272.4 USD
Average target price
309.4 USD
Spread / Average Target
+13.57%
Consensus