Company Valuation: Vonovia

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 37,665 17,525 23,250 24,126 20,812 14,737 - -
Change - -53.47% 32.67% 3.77% -13.74% -29.19% - -
Enterprise Value (EV) 1 84,006 60,981 65,446 65,696 60,865 54,197 54,317 54,395
Change - -27.41% 7.32% 0.38% -7.35% -10.96% 0.22% 0.14%
P/E 11.5x -26.9x -3.66x -26.9x 5.67x 6.92x 6.02x 6.77x
PBR 1.13x 0.56x 0.74x 1.01x 0.76x 0.51x 0.4x 0.41x
PEG - 0x -0x 0.3x -0x -0.2x 0.4x -0.6x
Capitalization / Revenue 15.9x 5.54x 7.15x 7.26x 6.09x 4.19x 4.08x 3.96x
EV / Revenue 35.6x 19.3x 20.1x 19.8x 17.8x 15.4x 15x 14.6x
EV / EBITDA 37x 22.1x 25.3x 25x 21.7x 18.3x 17.3x 16.5x
EV / EBIT -69.3x 41.1x 30.9x 26.4x 26.6x 20.7x 17.8x 16.2x
EV / FCF 88.3x -156x 82.1x 57.8x 34.2x 37.2x 35.4x 29.6x
FCF Yield 1.13% -0.64% 1.22% 1.73% 2.92% 2.69% 2.83% 3.37%
Dividend per Share 2 1.66 - 0.9 1.22 1.25 1.264 1.329 1.377
Rate of return 3.42% - 3.15% 4.16% 5.09% 7.28% 7.65% 7.93%
EPS 2 4.22 -0.82 -7.8 -1.09 4.33 2.512 2.887 2.566
Distribution rate 39.3% - -11.5% -112% 28.9% 50.3% 46.1% 53.7%
Net sales 1 2,362 3,163 3,253 3,324 3,417 3,514 3,616 3,723
EBITDA 1 2,269 2,763 2,584 2,625 2,801 2,958 3,136 3,305
EBIT 1 -1,213 1,484 2,119 2,491 2,287 2,624 3,052 3,359
Net income 1 2,642 -643.8 -6,285 -896 3,723 2,264 2,597 3,040
Net Debt 1 46,342 43,457 42,196 41,570 40,053 39,460 39,579 39,658
Reference price 2 48.50 22.02 28.54 29.32 24.54 17.37 17.37 17.37
Nbr of stocks (in thousands) 776,597 795,850 814,645 822,853 848,090 848,425 - -
Announcement Date 18/03/22 16/03/23 15/03/24 18/03/25 19/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
65.91x - - - 70.26B
9.31x3.53x7.8x-.--% 21.91B
6.92x15.42x18.32x7.28% 16.86B
4.3x0.01x0.02x7.52% 14.48B
7.44x15.99x - 7.1% 7.32B
-1.9x1.71x-19396.31x-.--% 6.23B
7.15x0.76x6.2x2.84% 5.31B
4.36x13.26x19.21x6.56% 3.97B
Average 12.94x 7.24x -3,224.12x 4.47% 18.3B
Weighted average by Cap. 34.93x 6.86x -1,749.27x 4.27%

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

-40%: Exceptional extension
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