Company Valuation: Alexandria Real Estate Equities, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 24,050 34,551 23,903 22,030 17,048 12,981 - -
Change - 43.66% -30.82% -7.84% -22.61% -23.86% - -
Enterprise Value (EV) 1 31,044 42,981 33,237 32,727 28,740 25,148 24,739 23,662
Change - 38.45% -22.67% -1.54% -12.18% -12.5% -1.63% -4.35%
P/E ratio 29.7x 58.4x 45.8x 235x 54.2x 40.1x 26.8x 41.6x
PBR 1.92x 2.02x 1.31x 1.17x 0.94x 0.59x 0.69x 0.63x
PEG - -1.6x -2.7x -2.8x 0x 9.81x 0.5x -1.2x
Capitalization / Revenue 12.8x 16.3x 9.23x 7.63x 5.47x 4.31x 4.17x 4.14x
EV / Revenue 16.5x 20.3x 12.8x 11.3x 9.22x 8.36x 7.94x 7.55x
EV / EBITDA 25.4x 32.1x 20.4x 17.9x 14.1x 13.2x 12.6x 11.9x
EV / EBIT 59.2x 83x 53.1x 44.6x 34.4x 42.7x 34.6x 40.2x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 4.24 4.48 4.72 4.96 5.19 5.333 5.452 5.725
Rate of return 2.38% 2.01% 3.24% 3.91% 5.32% 7.11% 7.26% 7.63%
EPS 2 6.01 3.82 3.18 0.54 1.8 1.874 2.802 1.802
Distribution rate 70.5% 117% 148% 919% 288% 285% 195% 318%
Net sales 1 1,886 2,114 2,589 2,886 3,116 3,009 3,116 3,136
EBITDA 1 1,222 1,339 1,629 1,827 2,039 1,908 1,969 1,980
EBIT 1 524 518.1 626.4 733.7 836.4 589.3 715.9 588.5
Net income 1 760.8 563.4 513.3 92.44 309.6 313.3 374.9 263.1
Net Debt 1 6,995 8,431 9,335 10,697 11,692 12,167 11,758 10,681
Reference price 2 178.22 222.96 145.67 126.77 97.55 75.04 75.04 75.04
Nbr of stocks (in thousands) 134,944 154,964 164,087 173,775 174,762 172,989 - -
Announcement Date 2/1/21 1/31/22 1/30/23 1/29/24 1/27/25 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
41.05x8.46x13.35x6.93% 13.31B
42.21x14.99x15.75x5.57% 52.09B
9.55x11.09x14.56x5.48% 13.47B
19.23x15.73x23.06x5.06% 12.63B
9.79x20.47x23.13x4.66% 12.35B
9.57x13.27x16.09x5.71% 11.21B
17.48x12.68x19.86x5.55% 9.9B
30.59x9.96x15.59x4.62% 8.26B
10.8x19.27x26.11x3.74% 7.39B
-343.27x8.32x19.65x1.95% 7.25B
Average -15.30x 13.42x 18.72x 4.93% 14.79B
Weighted average by Cap. 9.21x 13.89x 17.67x 5.25%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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