Financials Cairn Homes plc

Equities

Market Closed - London S.E. Other stock markets 11:35:04 2024-04-26 am EDT			5-day change	1st Jan Change
133.6 ^GBX	-0.15%		-2.34%	+15.37%

Feb. 29	Ireland's two big homebuilders eye growth in state-partnered projects	RE
Feb. 29	Cairn Homes profit grows on back of jumping house prices; demand high	AN

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	976.1	722.8	849.4	609.7	874.3	1,010	-	-
Enterprise Value (EV) ¹	1,068	891.1	958.9	759	1,023	1,124	1,105	1,097
P/E ratio	19.5 x	56.7 x	19.5 x	7.8 x	10.6 x	8.76 x	7.98 x	8.2 x
Yield	1.97%	-	4.86%	6.86%	4.72%	6.94%	8%	4.81%
Capitalization / Revenue	2.24 x	2.76 x	2 x	0.99 x	1.31 x	1.16 x	1.07 x	1.01 x
EV / Revenue	2.45 x	3.4 x	2.26 x	1.23 x	1.53 x	1.29 x	1.17 x	1.1 x
EV / EBITDA	15.5 x	35.4 x	16.2 x	7.24 x	8.85 x	7.65 x	7.16 x	7 x
EV / FCF	9.67 x	-24.2 x	10.9 x	-	9.93 x	6.68 x	6.67 x	-
FCF Yield	10.3%	-4.13%	9.19%	-	10.1%	15%	15%	-
Price to Book	1.31 x	0.99 x	1.09 x	0.81 x	1.15 x	1.34 x	1.29 x	-
Nbr of stocks (in thousands)	770,655	749,450	749,932	685,777	654,915	647,752	-	-
Reference price ²	1.267	0.9644	1.133	0.8890	1.335	1.559	1.559	1.559
Announcement Date	3/3/20	3/4/21	3/3/22	3/2/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	435.3	261.9	424	617.4	666.8	872.8	943.1	995
EBITDA ¹	68.79	25.14	59.19	104.8	115.6	147	154.2	156.7
EBIT ¹	68.05	24.45	58.38	103	113.4	144.9	152.1	155
Operating Margin	15.63%	9.33%	13.77%	16.69%	17%	16.6%	16.13%	15.58%
Earnings before Tax (EBT) ¹	58.59	14.79	50.24	93.47	99.42	132.6	139.5	143
Net income ¹	51.22	12.71	43.24	81.03	85.43	115	120.2	124
Net margin	11.77%	4.85%	10.2%	13.13%	12.81%	13.18%	12.75%	12.46%
EPS ²	0.0650	0.0170	0.0580	0.1140	0.1260	0.1780	0.1953	0.1900
Free Cash Flow ¹	110.5	-36.77	88.11	-	102.9	168.2	165.7	-
FCF margin	25.39%	-14.04%	20.78%	-	15.44%	19.27%	17.57%	-
FCF Conversion (EBITDA)	160.66%	-	148.85%	-	89.07%	114.45%	107.46%	-
FCF Conversion (Net income)	215.77%	-	203.76%	-	120.48%	146.26%	137.85%	-
Dividend per Share ²	0.0250	-	0.0550	0.0610	0.0630	0.1082	0.1247	0.0750
Announcement Date	3/3/20	3/4/21	3/3/22	3/2/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	92.4	168	110	149	148	115	94.9	86.9
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.343 x	6.693 x	1.85 x	1.425 x	1.283 x	0.7794 x	0.6154 x	0.5546 x
Free Cash Flow ¹	111	-36.8	88.1	-	103	168	166	-
ROE (net income / shareholders' equity)	6.77%	1.68%	5.65%	11%	13%	15.4%	16.4%	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	0.9600	0.9800	1.040	1.100	1.160	1.170	1.210	-
Cash Flow per Share	0.1300	-0.0500	0.1200	0.1300	-	-	-	-
Capex ¹	1.31	0.18	0.41	-	1.69	1.8	2.3	1.8
Capex / Sales	0.3%	0.07%	0.1%	-	0.25%	0.21%	0.24%	0.18%
Announcement Date	3/3/20	3/4/21	3/3/22	3/2/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.559 EUR

Average target price

1.904 EUR

Spread / Average Target

+22.17%

	1st Jan change	Capi.
CAIRN HOMES PLC	+15.37%	1.08B
DR HORTON	-4.38%	47.86B
PULTEGROUP, INC.	+10.25%	23.94B
DAIWA HOUSE INDUSTRY CO., LTD.	+1.83%	17.68B
SEKISUI HOUSE, LTD.	+13.06%	14.58B
TOLL BROTHERS, INC.	+16.96%	12.52B
THE BERKELEY GROUP HOLDINGS PLC	+0.30%	6.2B
SUMITOMO FORESTRY CO., LTD.	+12.71%	6.16B
TAYLOR MORRISON HOME CORPORATION	+7.89%	6.11B
SEKISUI CHEMICAL CO., LTD.	+9.62%	5.96B