Company Valuation: RAM Essential Services Property Fund

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 409.1 359.5 314.4 288.1 202.9 205.4 - -
Change - -12.1% -12.57% -8.35% -29.57% 1.23% - -
Enterprise Value (EV) 1 650.2 648 589.5 550.9 482.4 336.7 409.5 421.2
Change - -0.34% -9.04% -6.54% -12.45% -30.19% 21.62% 2.85%
P/E 6.54x -21.2x -12.9x -19.6x -6.75x 8.57x 8.44x 4.3x
PBR 1.45x 1.43x 1.43x 0.71x 0.57x 0.46x 0.44x 0.4x
PEG - 0x -0.3x 0.5x -0x -0x 5.46x 0x
Capitalization / Revenue 13.8x 6.38x 5.64x 4.96x 4.64x 5.14x 5.16x 4.8x
EV / Revenue 22x 11.5x 10.6x 9.49x 11x 8.43x 10.3x 9.84x
EV / EBITDA 22.9x 16.8x 19.9x 14.3x 16.2x 13.1x 15.6x -
EV / EBIT 27.1x 19.4x 25.7x 18.5x 24.3x 9.72x 11.4x 12x
EV / FCF - 32.9x - - 22x 18.7x 22.8x -
FCF Yield - 3.04% - - 4.55% 5.35% 4.4% -
Dividend per Share 2 0.04 0.057 0.056 0.05 0.0455 0.0409 0.0416 0.0432
Rate of return 5.1% 8.26% 9.11% 8.7% 11.2% 9.97% 10.1% 10.5%
EPS 2 0.12 -0.0325 -0.0478 -0.0294 -0.06 0.0478 0.0486 0.0954
Distribution rate 33.3% -175% -117% -170% -75.8% 85.5% 85.6% 45.3%
Net sales 1 29.6 56.32 55.7 58.03 43.72 39.94 39.85 42.81
EBITDA 1 28.38 38.67 29.56 38.42 29.7 25.8 26.3 -
EBIT 1 23.96 33.36 22.98 29.79 19.85 34.65 35.99 35.01
Net income 1 61.46 -16.63 -24.46 -5.531 -14.22 1 4.8 -
Net Debt 1 241.2 288.5 275.1 262.8 279.4 131.3 204.1 215.7
Reference price 2 0.7850 0.6900 0.6150 0.5750 0.4050 0.4100 0.4100 0.4100
Nbr of stocks (in thousands) 5,21,084 5,21,084 5,11,151 5,01,065 5,01,065 5,01,065 - -
Announcement Date 21/08/22 27/08/23 19/08/24 26/08/25 25/08/26 - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.57x8.43x13.05x9.97% 14Cr
21.3x12.71x14.88x5.81% 1.47TCr
7.62x13.14x16.98x6.84% 602.68Cr
11.6x14.15x15.09x5.5% 591.13Cr
19.7x12.86x14.44x4.91% 560.15Cr
9.2x14.02x14.98x7.54% 531.48Cr
7.89x13.37x17.02x6.29% 528.03Cr
8.51x15.67x18.88x9.43% 495.13Cr
12.21x11.11x12.73x5.66% 488.16Cr
Average 11.84x 12.83x 15.34x 6.88% 586.77Cr
Weighted average by Cap. 13.85x 13.25x 15.49x 6.36%

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

  1. Stock Market
  2. Stocks
  3. REP Stock
  4. Valuation RAM Essential Services Property Fund