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 12,360 - -
Change - -26.95% 22.22% 6.2% -13.85% 3.75% - -
Enterprise Value (EV) 1 18,415 15,100 17,422 18,638 16,900 17,432 17,681 17,810
Change - -18% 15.38% 6.98% -9.33% 3.15% 1.43% 0.73%
P/E 106x 42.5x 35.6x 34.6x 27.2x 36x 44.2x 49.9x
PBR 2.43x 1.64x 1.88x 1.93x 1.67x 2.03x 1.95x 1.97x
PEG - 0.6x 0.8x 4.99x 2.94x -1.9x -2.4x -4.4x
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 30.7x
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% 3.83% 4.04% 4.25%
EPS 2 0.41 0.71 1.01 1.08 1.18 0.954 0.7766 0.6889
Distribution rate 97.6% 101% 87.1% 96.3% 102% 138% 179% 212%
Net sales 1 1,304 1,491 1,624 1,729 1,850 1,905 1,971 2,070
EBITDA 1 660.4 734.2 809.3 912.1 968.5 1,016 1,058 1,108
EBIT 1 287.5 331.2 352.7 400.7 464.1 494 528.2 580.9
Net income 1 135.3 250.8 366.2 398.5 439 380 294.9 275.5
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 34.35 34.35 34.35
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
50.59x12.86x19.66x3.59% 18.57B
31.52x8.86x16.94x3.99% 17.78B
35.81x9.41x16.7x4.68% 15.23B
-46.52x8.95x19.75x3.68% 14.82B
31.82x10.14x20.75x3.3% 12.7B
36.01x9.15x17.16x3.83% 12.36B
37.59x10.56x17.19x4.6% 12.13B
91.68x9.49x17.02x3.94% 11.03B
Average 33.56x 9.93x 18.15x 3.95% 14.33B
Weighted average by Cap. 32.04x 10.01x 18.19x 3.94%

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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