Company Valuation: American Homes 4 Rent

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,583 10,653 13,020 13,827 11,912 12,352 - -
Change - -26.95% 22.22% 6.2% -13.85% 3.69% - -
Enterprise Value (EV) 1 18,415 15,100 17,422 18,638 16,900 17,425 17,674 17,803
Change - -18% 15.38% 6.98% -9.33% 3.11% 1.43% 0.73%
P/E 106x 42.5x 35.6x 34.6x 27.2x 36.6x 44.7x 49.8x
PBR 2.43x 1.64x 1.88x 1.93x 1.67x 2.02x 1.95x 1.97x
PEG - 0.6x 0.8x 4.99x 2.94x -1.8x -2.4x -4.9x
Capitalization / Revenue 11.2x 7.15x 8.02x 8x 6.44x 6.49x 6.27x 5.97x
EV / Revenue 14.1x 10.1x 10.7x 10.8x 9.13x 9.15x 8.97x 8.6x
EV / EBITDA 27.9x 20.6x 21.5x 20.4x 17.4x 17.2x 16.7x 16.1x
EV / EBIT 64x 45.6x 49.4x 46.5x 36.4x 35.3x 33.5x 30.6x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 0.4 0.72 0.88 1.04 1.2 1.317 1.389 1.46
Rate of return 0.92% 2.39% 2.45% 2.78% 3.74% 3.84% 4.04% 4.25%
EPS 2 0.41 0.71 1.01 1.08 1.18 0.939 0.7676 0.6889
Distribution rate 97.6% 101% 87.1% 96.3% 102% 140% 181% 212%
Net sales 1 1,304 1,491 1,624 1,729 1,850 1,904 1,970 2,070
EBITDA 1 660.4 734.2 809.3 912.1 968.5 1,015 1,056 1,108
EBIT 1 287.5 331.2 352.7 400.7 464.1 494 528.2 580.9
Net income 1 135.3 250.8 366.2 398.5 439 379.9 293.1 275.5
Net Debt 1 3,832 4,447 4,402 4,811 4,987 5,073 5,321 5,450
Reference price 2 43.61 30.14 35.96 37.42 32.10 34.33 34.33 34.33
Nbr of stocks (in thousands) 334,396 353,445 362,056 369,507 371,106 359,815 - -
Announcement Date 2/24/22 2/23/23 2/22/24 2/20/25 2/19/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
35.31x9.05x16.96x3.91% 12.11B
49.8x10.15x17.16x4.41% 23.87B
49.66x12.69x19.4x3.66% 18.23B
32.42x8.77x16.76x4.04% 17.55B
35.5x9.35x16.6x4.72% 15.1B
-87.01x8.77x19.47x3.71% 14.64B
31.34x10.02x20.51x3.35% 12.52B
36.91x10.43x16.98x4.69% 11.92B
91.42x9.47x16.98x3.96% 11B
113.91x9.2x16.74x4.24% 3.85B
Average 38.93x 9.79x 17.75x 4.07% 14.08B
Weighted average by Cap. 32.89x 9.92x 17.82x 4.07%

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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