NATIONAL STORAGE REIT |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.18 AUD | +2.35% |
|
-2.68% | -5.22% |
| Mar. 27 | National Storage Reit Announces Board and Executive Changes | CI |
| Feb. 21 | Maas Group Signs Self-Storage Portfolio Sale, Development Contracts with National Storage REIT | MT |
Valuation
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,353 | 1,870 | 2,342 | 2,558 | 3,169 | 2,919 | - | - |
| Enterprise Value (EV) 1 | 2,018 | 2,458 | 3,005 | 3,447 | 4,043 | 4,198 | 4,426 | 4,569 |
| P/E ratio | 7.86 x | 12.6 x | 6.55 x | 4.11 x | 9.13 x | 19.2 x | 18.4 x | 17.4 x |
| Yield | 5.49% | 4.39% | 4.14% | 4.67% | 4.68% | 5.11% | 5.26% | 5.42% |
| Capitalization / Revenue | 8.89 x | 10.7 x | 10.8 x | 9.17 x | 9.6 x | 8.15 x | 7.48 x | 6.92 x |
| EV / Revenue | 13.3 x | 14.1 x | 13.8 x | 12.4 x | 12.2 x | 11.7 x | 11.3 x | 10.8 x |
| EV / EBITDA | 22.6 x | 26.6 x | 23.6 x | 21.2 x | 21 x | 20.9 x | 20.2 x | 19.2 x |
| EV / FCF | 24.5 x | 30.5 x | 22.4 x | 29.2 x | - | 34.1 x | 29.3 x | 28.3 x |
| FCF Yield | 4.09% | 3.28% | 4.47% | 3.42% | - | 2.94% | 3.41% | 3.54% |
| Price to Book | 1.04 x | 1.09 x | 1.17 x | 0.9 x | 0.94 x | 0.85 x | 0.82 x | 0.8 x |
| Nbr of stocks (in thousands) | 773,344 | 1,013,741 | 1,183,070 | 1,195,498 | 1,348,383 | 1,370,353 | - | - |
| Reference price 2 | 1.750 | 1.845 | 1.980 | 2.140 | 2.350 | 2.130 | 2.130 | 2.130 |
| Announcement Date | 8/27/19 | 8/25/20 | 8/24/21 | 8/21/22 | 8/22/23 | - | - | - |
1AUD in Million2AUD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 152.2 | 174.6 | 217.7 | 278.9 | 330 | 358.3 | 390.1 | 421.8 |
| EBITDA 1 | 89.2 | 92.4 | 127.4 | 162.3 | 192.6 | 201.3 | 219.6 | 238.2 |
| EBIT 1 | 88.2 | 91.5 | 125.1 | 159.1 | 189.8 | 198.5 | 219 | 238.8 |
| Operating Margin | 57.95% | 52.41% | 57.44% | 57.06% | 57.5% | 55.41% | 56.15% | 56.61% |
| Earnings before Tax (EBT) 1 | 145 | 119.5 | 310.6 | 630.9 | 334.2 | 155.9 | 161.9 | 173.1 |
| Net income 1 | 144.7 | 121.8 | 309.7 | 27.22 | 37.3 | 151.5 | 160.6 | 171.5 |
| Net margin | 95.07% | 69.76% | 142.23% | 9.76% | 11.3% | 42.28% | 41.17% | 40.65% |
| EPS 2 | 0.2226 | 0.1467 | 0.3021 | 0.5205 | 0.2575 | 0.1111 | 0.1156 | 0.1226 |
| Free Cash Flow 1 | 82.55 | 80.6 | 134.4 | 118 | - | 123.3 | 151 | 161.5 |
| FCF margin | 54.24% | 46.16% | 61.72% | 42.32% | - | 34.4% | 38.71% | 38.3% |
| FCF Conversion (EBITDA) | 92.54% | 87.23% | 105.47% | 72.71% | - | 61.25% | 68.76% | 67.81% |
| FCF Conversion (Net income) | 57.05% | 66.17% | 43.39% | 433.55% | - | 81.36% | 94.02% | 94.21% |
| Dividend per Share 2 | 0.0960 | 0.0810 | 0.0820 | 0.1000 | 0.1100 | 0.1089 | 0.1121 | 0.1154 |
| Announcement Date | 8/27/19 | 8/25/20 | 8/24/21 | 8/21/22 | 8/22/23 | - | - | - |
1AUD in Million2AUD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: June | 2020 S1 | 2020 S2 | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S1 |
|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 85.4 | 89.2 | 99.61 | 118.1 | 131.6 | 147.2 | - | 167.6 | 169.3 |
| EBITDA 1 | 50.6 | - | - | 69.11 | - | - | - | - | 109.9 |
| EBIT 1 | - | - | - | 67.34 | 75.13 | 84 | - | 95.84 | 109.1 |
| Operating Margin | - | - | - | 57% | 57.07% | 57.05% | - | 57.2% | 64.44% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - |
| Net income | 150.7 | - | 101.4 | 208.3 | 274.1 | - | 18.46 | 18.84 | - |
| Net margin | 176.46% | - | 101.78% | 176.34% | 208.22% | - | - | 11.24% | - |
| EPS | 0.1922 | - | - | 0.2023 | 0.2307 | - | 0.1520 | 0.1055 | - |
| Dividend per Share | 0.0470 | 0.0340 | 0.0400 | 0.0420 | 0.0460 | 0.0540 | 0.0550 | 0.0550 | - |
| Announcement Date | 2/25/20 | 8/25/20 | 2/22/21 | 8/24/21 | 2/24/22 | 8/21/22 | 2/21/23 | 8/22/23 | 2/20/24 |
1AUD in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: June | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 665 | 587 | 662 | 888 | 874 | 1,279 | 1,507 | 1,650 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 7.456 x | 6.357 x | 5.196 x | 5.473 x | 4.537 x | 6.354 x | 6.864 x | 6.928 x |
| Free Cash Flow 1 | 82.6 | 80.6 | 134 | 118 | - | 123 | 151 | 162 |
| ROE (net income / shareholders' equity) | 5.69% | 4.47% | 4.32% | 4.94% | 4.56% | 4.55% | 4.51% | 4.64% |
| ROA (Net income/ Total Assets) | 7.67% | 5.08% | 2.94% | 3.46% | 3.28% | 3.65% | 3.73% | 3.8% |
| Assets 1 | 1,886 | 2,399 | 10,548 | 786 | 1,136 | 4,156 | 4,306 | 4,516 |
| Book Value Per Share 2 | 1.690 | 1.700 | 1.700 | 2.370 | 2.510 | 2.510 | 2.580 | 2.680 |
| Cash Flow per Share 2 | 0.1400 | 0.1100 | 0.1300 | 0.1400 | 0.1500 | 0.1100 | 0.1100 | 0.1200 |
| Capex 1 | 10.8 | 8.88 | 430 | 47.7 | 213 | 252 | 209 | 201 |
| Capex / Sales | 7.07% | 5.09% | 197.35% | 17.12% | 64.52% | 70.4% | 53.68% | 47.62% |
| Announcement Date | 8/27/19 | 8/25/20 | 8/24/21 | 8/21/22 | 8/22/23 | - | - | - |
1AUD in Million2AUD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
12
Last Close Price
2.13
AUD
Average target price
2.41
AUD
Spread / Average Target
+13.14%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -5.22% | 1.9B | |
| -15.50% | 45.28B | |
| -16.75% | 28.24B | |
| -15.74% | 3.92B | |
| -15.79% | 2.73B | |
| -10.44% | 2.63B | |
| -12.89% | 2.08B | |
| +0.44% | 943M | |
| -14.83% | 896M | |
| -13.78% | 422M |
- Stock Market
- Equities
- NSR Stock
- Financials National Storage REIT
