Company Valuation: H&R Real Estate Investment Trust

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 4,687 3,220 2,592 2,432 2,686 2,940 -
Change - -31.3% -19.48% -6.21% 10.47% 9.46% -
Enterprise Value (EV) 1 4,687 7,283 6,393 6,035 2,686 6,260 6,237
Change - 55.39% -12.22% -5.6% -55.49% 133.06% -0.36%
P/E 7.82x 4.19x 45.2x -21.7x -3.62x 16.8x 11.8x
PBR - - - - - - -
PEG - 0.1x -0.5x 0x -0x -0x 0.3x
Capitalization / Revenue 4x 3.34x 2.6x 2.5x 2.74x 3.94x 3.91x
EV / Revenue 4x 7.55x 6.41x 6.2x 2.74x 8.38x 8.3x
EV / EBITDA 7.4x 12.1x 10.2x 9.91x 4.33x 14.4x 15.3x
EV / EBIT - - - - - - -
EV / FCF 11.6x - 25.2x 25.7x - -13.2x 215x
FCF Yield 8.64% - 3.96% 3.89% - -7.6% 0.46%
Dividend per Share 2 0.69 0.54 0.7 0.6 0.6 0.5975 0.5975
Rate of return 4.25% 4.46% 7.07% 6.47% 5.87% 5.38% 5.38%
EPS 2 2.078 2.893 0.2189 -0.4277 -2.827 0.66 0.94
Distribution rate 33.2% 18.7% 320% -140% -21.2% 90.5% 63.6%
Net sales 1 1,172 965 997.8 973.4 980.5 746.7 751.9
EBITDA 1 633.6 601.7 627 608.8 620.2 434.5 406.7
EBIT - - - - - - -
Net income 1 597.9 844.8 61.69 -119.7 -791.6 171.3 263.5
Net Debt 1 - 4,063 3,801 3,604 - 3,320 3,297
Reference price 2 16.25 12.11 9.90 9.28 10.23 11.11 11.11
Nbr of stocks (in thousands) 288,440 265,885 261,868 262,016 262,566 264,637 -
Announcement Date 2/14/22 2/13/23 2/13/24 2/12/25 2/12/26 - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
24.49x13.36x15.68x5.19% 16.02B
23.91x14.46x15.93x4.09% 6.75B
8.85x13.78x17.88x6.26% 6.67B
14.23x14.6x15.67x5.09% 6.48B
9.85x17x20.56x7.83% 6.12B
10.66x14.8x15.88x6.89% 5.93B
8.66x13.78x17.75x5.87% 5.79B
11.51x11.16x12.71x5.66% 4.69B
Average 14.02x 14.12x 16.51x 5.86% 7.31B
Weighted average by Cap. 15.95x 14.07x 16.46x 5.73%

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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  5. Valuation H&R Real Estate Investment Trust