Financials Cairn Homes plc

Equities

Market Closed - London S.E. Other stock markets 11:35:22 2024-04-29 am EDT			5-day change	1st Jan Change
135.8 ^GBX	+1.65%		+0.15%	+17.27%

Feb. 29	Ireland's two big homebuilders eye growth in state-partnered projects	RE
Feb. 29	Cairn Homes profit grows on back of jumping house prices; demand high	AN

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	976.1	722.8	849.4	609.7	874.3	1,030	-	-
Enterprise Value (EV) ¹	1,068	891.1	958.9	759	1,023	1,149	1,126	1,117
P/E ratio	19.5 x	56.7 x	19.5 x	7.8 x	10.6 x	8.99 x	8.18 x	8.35 x
Yield	1.97%	-	4.86%	6.86%	4.72%	6.66%	7.69%	4.71%
Capitalization / Revenue	2.24 x	2.76 x	2 x	0.99 x	1.31 x	1.18 x	1.09 x	1.06 x
EV / Revenue	2.45 x	3.4 x	2.26 x	1.23 x	1.53 x	1.32 x	1.19 x	1.15 x
EV / EBITDA	15.5 x	35.4 x	16.2 x	7.24 x	8.85 x	7.82 x	7.3 x	7.13 x
EV / FCF	9.67 x	-24.2 x	10.9 x	-	9.93 x	6.32 x	7.74 x	-
FCF Yield	10.3%	-4.13%	9.19%	-	10.1%	15.8%	12.9%	-
Price to Book	1.31 x	0.99 x	1.09 x	0.81 x	1.15 x	1.38 x	1.32 x	-
Nbr of stocks (in thousands)	770,655	749,450	749,932	685,777	654,915	647,652	-	-
Reference price ²	1.267	0.9644	1.133	0.8890	1.335	1.591	1.591	1.591
Announcement Date	3/3/20	3/4/21	3/3/22	3/2/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	435.3	261.9	424	617.4	666.8	873	943.2	969.6
EBITDA ¹	68.79	25.14	59.19	104.8	115.6	147	154.2	156.7
EBIT ¹	68.05	24.45	58.38	103	113.4	144.9	152.1	155
Operating Margin	15.63%	9.33%	13.77%	16.69%	17%	16.6%	16.12%	15.98%
Earnings before Tax (EBT) ¹	58.59	14.79	50.24	93.47	99.42	132.6	139.5	143
Net income ¹	51.22	12.71	43.24	81.03	85.43	114.1	120.3	124
Net margin	11.77%	4.85%	10.2%	13.13%	12.81%	13.07%	12.75%	12.79%
EPS ²	0.0650	0.0170	0.0580	0.1140	0.1260	0.1769	0.1944	0.1905
Free Cash Flow ¹	110.5	-36.77	88.11	-	102.9	182	145.4	-
FCF margin	25.39%	-14.04%	20.78%	-	15.44%	20.85%	15.42%	-
FCF Conversion (EBITDA)	160.66%	-	148.85%	-	89.07%	123.83%	94.32%	-
FCF Conversion (Net income)	215.77%	-	203.76%	-	120.48%	159.56%	120.94%	-
Dividend per Share ²	0.0250	-	0.0550	0.0610	0.0630	0.1059	0.1223	0.0750
Announcement Date	3/3/20	3/4/21	3/3/22	3/2/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	92.4	168	110	149	148	119	96	86.9
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.343 x	6.693 x	1.85 x	1.425 x	1.283 x	0.811 x	0.6226 x	0.5546 x
Free Cash Flow ¹	111	-36.8	88.1	-	103	182	145	-
ROE (net income / shareholders' equity)	6.77%	1.68%	5.65%	11%	13%	15.3%	16.5%	-
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	0.9600	0.9800	1.040	1.100	1.160	1.150	1.200	-
Cash Flow per Share	0.1300	-0.0500	0.1200	0.1300	-	-	-	-
Capex ¹	1.31	0.18	0.41	-	1.69	2.37	2.53	1.8
Capex / Sales	0.3%	0.07%	0.1%	-	0.25%	0.27%	0.27%	0.19%
Announcement Date	3/3/20	3/4/21	3/3/22	3/2/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

1.591 EUR

Average target price

1.941 EUR

Spread / Average Target

+22.02%

	1st Jan change	Capi.
CAIRN HOMES PLC	+17.27%	1.08B
DR HORTON	-3.95%	47.86B
PULTEGROUP, INC.	+10.99%	23.94B
DAIWA HOUSE INDUSTRY CO., LTD.	+1.83%	17.68B
SEKISUI HOUSE, LTD.	+13.06%	14.58B
TOLL BROTHERS, INC.	+18.31%	12.52B
THE BERKELEY GROUP HOLDINGS PLC	+1.32%	6.2B
SUMITOMO FORESTRY CO., LTD.	+12.71%	6.16B
TAYLOR MORRISON HOME CORPORATION	+8.15%	6.11B
SEKISUI CHEMICAL CO., LTD.	+9.62%	5.96B