Company Valuation: RAM Essential Services Property Fund

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 409.1 359.5 314.4 288.1 202.9 210.4 - -
Change - -12.1% -12.57% -8.35% -29.57% 3.7% - -
Enterprise Value (EV) 1 650.2 648 589.5 550.9 202.9 341.7 414.5 426.2
Change - -0.34% -9.04% -6.54% -63.17% 68.4% 21.3% 2.81%
P/E 6.54x -21.2x -12.9x -19.6x -6.75x 8.78x 8.65x 4.4x
PBR 1.45x 1.43x 1.43x 0.71x - 0.47x 0.45x 0.4x
PEG - 0x -0.3x 0.5x -0x -0x 5.59x 0x
Capitalization / Revenue 13.8x 6.38x 5.64x 4.96x 4.64x 5.27x 5.28x 4.92x
EV / Revenue 22x 11.5x 10.6x 9.49x 4.64x 8.56x 10.4x 9.96x
EV / EBITDA 22.9x 16.8x 19.9x 14.3x 6.83x 13.2x 15.8x -
EV / EBIT 27.1x 19.4x 25.7x 18.5x 10.2x 9.86x 11.5x 12.2x
EV / FCF - 32.9x - - - 19x 23x -
FCF Yield - 3.04% - - - 5.27% 4.34% -
Dividend per Share 2 0.04 0.057 0.056 0.05 - 0.0409 0.0416 0.0432
Rate of return 5.1% 8.26% 9.11% 8.7% - 9.73% 9.9% 10.3%
EPS 2 0.12 -0.0325 -0.0478 -0.0294 -0.06 0.0478 0.0486 0.0954
Distribution rate 33.3% -175% -117% -170% - 85.5% 85.6% 45.3%
Net sales 1 29.6 56.32 55.7 58.03 43.72 39.94 39.85 42.81
EBITDA 1 28.38 38.67 29.56 38.42 29.7 25.8 26.3 -
EBIT 1 23.96 33.36 22.98 29.79 19.85 34.65 35.99 35.01
Net income 1 61.46 -16.63 -24.46 -5.531 -14.22 1 4.8 -
Net Debt 1 241.2 288.5 275.1 262.8 - 131.3 204.1 215.7
Reference price 2 0.7850 0.6900 0.6150 0.5750 0.4050 0.4200 0.4200 0.4200
Nbr of stocks (in thousands) 521,084 521,084 511,151 501,065 501,065 501,065 - -
Announcement Date 21/08/22 27/08/23 19/08/24 26/08/25 25/08/26 - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.57x8.43x13.05x9.97% 148M
23.33x13.42x15.67x5.32% 16.01B
8.24x13.71x17.7x6.38% 6.61B
22.56x14.45x15.9x4.27% 6.42B
11.94x14.4x15.35x5.35% 6.3B
8.45x16.4x19.76x8.23% 5.86B
10.03x14.45x15.52x7.07% 5.84B
8.4x13.78x17.69x5.93% 5.75B
12.69x12.21x13.05x5.45% 5.25B
Average 12.69x 13.47x 15.97x 6.44% 6.47B
Weighted average by Cap. 14.99x 13.99x 16.24x 5.88%

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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  3. REP Stock
  4. Valuation RAM Essential Services Property Fund