Metoda mnożnikowa – opiera się na porównaniu mnożników firm z branży, w której działa wyceniana spółka (np.
EV/EBITDA, P/E, P/BV). Metoda ta bardzo dobrze odzwierciedla bieżący stan rynku, wymaga mniejszej liczby założeń
oraz jest prostsza w zastosowaniu.
Do jej wad można zaliczyć dużą podatność wyceny na zmienność cen porównywanych spółek, subiektywny dobór
porównywalnych firm oraz uproszczenie obrazu spółki prowadzące do pominięcia bardzo istotnych parametrów (np.
przewaga konkurencyjna, tempo wzrostu, poziom rentowności, strukturę zadłużenia).
|
EV/EBITDA TTM |
P/E TTM |
P/B TTM |
| Mediana dla branży |
6.9
|
29.9
|
1.0
|
| Universal Health Realty Income Trust |
2.6
|
30.2
|
3.3
|
| Mediana / Universal Health Realty Income Trust |
2.7
|
1.0
|
0.3
|
Pozostałe spółki z branży REIT - Healthcare Facilities
| Nazwa firmy |
Symbol |
Kapitalizacja (mln $) |
EV/EBITDA |
P/E |
P/B |
Giełda |
| LTC Properties, Inc. |
LTC |
1,608 |
7.3 |
18.1 |
1.7 |
New York Stock Exchange |
| Diversified Healthcare Trust |
DHC |
837 |
7.2 |
-2.8 |
0.4 |
NASDAQ Global Select |
| American Healthcare REIT, Inc. |
AHR |
6,034 |
25.7 |
-145.8 |
2.6 |
New York Stock Exchange |
| Vital Healthcare Property Trust |
VHP.NZ |
806 |
0.6 |
-12.4 |
0.7 |
NZSE |
| Parkway Life Real Estate Investment Trust |
C2PU.SI |
2,046 |
572.5 |
29.5 |
1.6 |
Stock Exchange of Singapore |
| Chartwell Retirement Residences |
CSH-UN.TO |
3,711 |
6.7 |
86.9 |
4.3 |
Toronto Stock Exchange |
| Global Medical REIT Inc. |
GMRE |
481 |
5.2 |
60.4 |
0.9 |
New York Stock Exchange |
| CareTrust REIT, Inc. |
CTRE |
5,817 |
20.0 |
35.0 |
1.9 |
New York Stock Exchange |
| Sila Realty Trust, Inc. |
SILA |
1,354 |
5.9 |
38.0 |
1.0 |
New York Stock Exchange |
| Ventas, Inc. |
VTR |
29,705 |
8.8 |
203.4 |
2.5 |
New York Stock Exchange |
| HealthCo Healthcare and Wellness REIT |
HCW.AX |
271 |
-0.7 |
-120.4 |
0.5 |
Australian Securities Exchange |
| Diversified Healthcare Trust |
DHCNL |
873 |
7.2 |
-2.8 |
0.4 |
NASDAQ Global Select |
| Medical Properties Trust, Inc. |
MPW |
2,451 |
9.4 |
-1.5 |
0.5 |
New York Stock Exchange |
| First Real Estate Investment Trust |
AW9U.SI |
442 |
2.2 |
9.2 |
0.9 |
Stock Exchange of Singapore |
| Aedifica SA |
AED.BR |
3,551 |
2.8 |
15.9 |
0.8 |
Brussels |
| NorthWest Healthcare Properties Real Estate Investment Trust |
NWH-UN.TO |
893 |
-164.7 |
-4.8 |
0.8 |
Toronto Stock Exchange |
| Welltower Inc. |
WELL |
103,985 |
35.3 |
94.5 |
3.0 |
New York Stock Exchange |
| Global Medical REIT Inc. |
GMRE-PA |
484 |
5.2 |
60.4 |
0.9 |
New York Stock Exchange |
| Primary Health Properties PLC |
PHP.L |
1,720 |
9.2 |
31.0 |
0.9 |
London Stock Exchange |
| Target Healthcare REIT PLC |
THRL.L |
819 |
6.8 |
8.5 |
0.9 |
London Stock Exchange |
| National Health Investors, Inc. |
NHI |
3,291 |
8.1 |
22.8 |
2.3 |
New York Stock Exchange |
| Sabra Health Care REIT, Inc. |
SBRA |
4,300 |
6.1 |
30.5 |
1.6 |
NASDAQ Global Select |
| Healthcare Realty Trust Incorporated |
HR |
5,683 |
1.1 |
-14.5 |
1.1 |
New York Stock Exchange |
| Omega Healthcare Investors, Inc. |
OHI |
10,978 |
7.0 |
24.0 |
2.3 |
New York Stock Exchange |
| Care Property Invest NV |
CPINV.BR |
530 |
-2.0 |
17.7 |
0.7 |
Brussels |
| Assura Plc |
AGR.L |
2,184 |
0.4 |
23.4 |
1.0 |
London Stock Exchange |
| Healthcare Trust, Inc. |
HTIBP |
417 |
nan |
nan |
nan |
NASDAQ Global Market |
| Universal Health Realty Income Trust |
UHT |
561 |
2.5 |
29.9 |
3.3 |
New York Stock Exchange |
| Healthpeak Properties, Inc. |
DOC |
12,727 |
2.3 |
45.9 |
1.6 |
New York Stock Exchange |
| Healthcare Trust, Inc. |
HTIA |
418 |
nan |
nan |
nan |
NASDAQ Global Market |
| Strawberry Fields REIT LLC |
STRW |
127 |
-4.6 |
14.7 |
3.7 |
American Stock Exchange |
| Community Healthcare Trust Incorporated |
CHCT |
459 |
5.4 |
-73.2 |
0.9 |
New York Stock Exchange |