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 1 409.1 359.5 314.4 288.1 202.9 207.9 - -
Change - -12.1% -12.57% -8.35% -29.57% 2.47% - -
Enterprise Value (EV) 1 650.2 648 589.5 550.9 202.9 339.2 412 423.7
Change - -0.34% -9.04% -6.54% -63.17% 67.17% 21.46% 2.83%
P/E 6.54x -21.2x -12.9x -19.6x -6.75x 8.67x 8.54x 4.35x
PBR 1.45x 1.43x 1.43x 0.71x - 0.47x 0.44x 0.4x
PEG - 0x -0.3x 0.5x -0x -0x 5.52x 0x
Capitalization / Revenue 13.8x 6.38x 5.64x 4.96x 4.64x 5.21x 5.22x 4.86x
EV / Revenue 22x 11.5x 10.6x 9.49x 4.64x 8.49x 10.3x 9.9x
EV / EBITDA 22.9x 16.8x 19.9x 14.3x 6.83x 13.1x 15.7x -
EV / EBIT 27.1x 19.4x 25.7x 18.5x 10.2x 9.79x 11.4x 12.1x
EV / FCF - 32.9x - - - 18.8x 22.9x -
FCF Yield - 3.04% - - - 5.31% 4.37% -
Dividend per Share 2 0.04 0.057 0.056 0.05 - 0.0409 0.0416 0.0432
Rate of return 5.1% 8.26% 9.11% 8.7% - 9.85% 10% 10.4%
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% - 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 - 131.3 204.1 215.7
Reference price 2 0.7850 0.6900 0.6150 0.5750 0.4050 0.4150 0.4150 0.4150
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
9.09x8.74x13.54x9.4% 16Cr
23.43x13.45x15.71x5.3% 1.61TCr
8.23x13.7x17.69x6.39% 660.25Cr
22.7x14.24x15.97x4.25% 646.44Cr
11.83x14.33x15.27x5.39% 626.67Cr
8.6x16.51x19.89x8.31% 580.99Cr
9.93x14.37x15.39x7.14% 578.77Cr
8.38x13.76x17.66x5.94% 574.27Cr
12.45x11.25x12.89x5.55% 517.2Cr
Average 12.74x 13.37x 16.00x 6.41% 645.31Cr
Weighted average by Cap. 15.03x 13.88x 16.24x 5.9%

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
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