Financials Empiric Student Property Plc

Equities

ESP

GB00BLWDVR75

Residential REITs

Real-time Estimate Cboe Europe 05:46:35 03/05/2024 pm IST 5-day change 1st Jan Change
92.35 GBX -0.70% Intraday chart for Empiric Student Property Plc +1.44% -2.52%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 588.1 451.8 518.8 508 572.1 561.2 - -
Enterprise Value (EV) 1 921.3 803.1 852.6 840 888.3 902.1 929.4 957.9
P/E ratio 10.7 x -18.9 x 17.8 x 7.59 x 10.8 x - 6.6 x 6.16 x
Yield 5.13% 1.67% 3.63% 3.27% 3.69% 4.19% 4.57% 4.7%
Capitalization / Revenue 8.29 x 7.6 x 9.27 x 6.96 x 7.11 x 6.51 x 6.04 x 5.77 x
EV / Revenue 13 x 13.5 x 15.2 x 11.5 x 11 x 10.5 x 10 x 9.85 x
EV / EBITDA 24 x 29.8 x 38.1 x 23.6 x 21.5 x 19.8 x 18.4 x 17.5 x
EV / FCF 22.7 x 47.5 x 20.6 x 20.1 x 21.1 x 30.4 x 28.9 x 28.3 x
FCF Yield 4.41% 2.11% 4.86% 4.96% 4.74% 3.29% 3.46% 3.53%
Price to Book - - - - - - - -
Nbr of stocks (in thousands) 6,03,161 6,03,161 6,03,203 6,03,352 6,03,438 6,03,438 - -
Reference price 2 0.9750 0.7490 0.8600 0.8420 0.9480 0.9300 0.9300 0.9300
Announcement Date 18/03/20 17/03/21 03/03/22 16/03/23 14/03/24 - - -
1GBP in Million2GBP
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 70.91 59.44 55.97 73 80.5 86.15 92.85 97.22
EBITDA 1 38.34 26.95 22.36 35.6 41.3 45.66 50.56 54.64
EBIT 1 38.15 26.63 21.9 35 40.5 46.84 50.19 51.77
Operating Margin 53.8% 44.79% 39.13% 47.95% 50.31% 54.37% 54.05% 53.25%
Earnings before Tax (EBT) 1 54.77 -23.97 29.2 67.7 53.4 73.4 81.55 91.3
Net income 1 54.77 -23.97 29.2 67.7 53.4 66 84.47 91.3
Net margin 77.24% -40.32% 52.17% 92.74% 66.34% 76.61% 90.97% 93.91%
EPS 0.0907 -0.0397 0.0484 0.1110 0.0880 - 0.1410 0.1510
Free Cash Flow 1 40.62 16.92 41.44 41.7 42.1 29.68 32.12 33.84
FCF margin 57.29% 28.46% 74.05% 57.12% 52.3% 34.46% 34.59% 34.81%
FCF Conversion (EBITDA) 105.97% 62.77% 185.36% 117.13% 101.94% 65.01% 63.53% 61.93%
FCF Conversion (Net income) 74.17% - 141.95% 61.6% 78.84% 44.98% 38.03% 37.06%
Dividend per Share 2 0.0500 0.0125 0.0312 0.0275 0.0350 0.0390 0.0425 0.0437
Announcement Date 18/03/20 17/03/21 03/03/22 16/03/23 14/03/24 - - -
1GBP in Million2GBP
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 333 351 334 332 316 341 368 397
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 8.693 x 13.04 x 14.93 x 9.326 x 7.656 x 7.465 x 7.282 x 7.259 x
Free Cash Flow 1 40.6 16.9 41.4 41.7 42.1 29.7 32.1 33.8
ROE (net income / shareholders' equity) - 2.13% 2.13% 3.06% - - - -
ROA (Net income/ Total Assets) - - - 1.86% - - - -
Assets 1 - - - 3,641 - - - -
Book Value Per Share - - - - - - - -
Cash Flow per Share - - - - - - - -
Capex 0.09 14.7 0.96 1.9 - - - -
Capex / Sales 0.12% 24.73% 1.72% 2.6% - - - -
Announcement Date 18/03/20 17/03/21 03/03/22 16/03/23 14/03/24 - - -
1GBP in Million
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+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
0.93 GBP
Average target price
1.142 GBP
Spread / Average Target
+22.85%
Consensus

Annual profits - Rate of surprise

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