PS Business Parks
Financial ratios & Valuation

Historical Multiples (2014 – 2021)

2014 2015 2016 2017 2018 2019 2020 2021 TTM Median
Valuation Ratios
Price/Earnings ratio
12.2918.0724.6521.9515.8425.9321.109.280.8315.84
Price/Sales ratio
5.676.318.148.468.6810.558.8111.600.768.68
Price/Book Value ratio
1.241.421.952.002.032.592.082.930.152.03
Price/Cash Flow ratio
9.399.9012.6012.5313.0015.6113.2216.836.5013.00
Price/Free Cash Flow ratio
12.3112.3014.4415.4815.2018.4516.3123.3042.8615.48
Price/Earnings Growth ratio
0.22-0.71-10.841.070.35-1.12-22.360.040.000.35
Dividend Yield
N/AN/AN/AN/AN/AN/AN/AN/A10.68%N/A
Profitability Indicator Ratios
Gross Profit Margin
66.20%67.55%68.22%68.83%69.39%70.14%69.80%70.16%71.56%68.83%
Operating Profit Margin
33.30%35.71%38.70%42.98%42.94%42.68%43.13%103.35%14.01%42.94%
Pretax Profit Margin
54.30%39.86%37.42%44.58%43.14%43.58%49.73%126.05%120.18%44.58%
Net Profit Margin
46.15%34.91%33.04%38.54%54.82%40.70%41.75%125.00%91.13%38.54%
Effective Tax Rate
45.30%19.34%0.49%4.30%0.84%2.39%13.79%0.84%0.00%0.84%
Return on Assets
7.81%5.96%6.04%7.38%10.95%8.54%8.43%25.82%6.12%10.95%
Return On Equity
10.15%7.85%7.93%9.15%12.84%10.02%9.87%31.61%20.34%9.15%
Return on Capital Employed
5.81%6.32%7.34%8.55%8.95%9.35%9.07%22.73%0.96%8.95%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/A1.64N/A
Quick Ratio
2.632.882.031.850.841.141.300.510.790.84
Cash ratio
2.212.481.631.430.430.740.840.200.740.43
Days of Sales Outstanding
27.9729.8529.8830.8030.6329.1933.6432.617.4630.63
Days of Inventory outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
27.9729.8529.8830.8030.6329.1933.6432.611.8430.63
Days of Payables Outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Conversion Cycle
27.9729.8529.8830.8030.6329.1933.6432.617.4630.63
Debt Ratios
Debt Ratio
0.110.11N/AN/AN/AN/AN/A0.010.66N/A
Debt Equity Ratio
0.140.15N/AN/AN/AN/AN/A0.011.99N/A
Long-term Debt to Capitalization
0.120.13N/AN/AN/AN/AN/AN/A0.64N/A
Total Debt to Capitalization
0.120.13N/AN/AN/AN/AN/A0.01N/AN/A
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/A3.93N/A
Cash Flow to Debt Ratio
0.910.95N/AN/AN/AN/AN/A9.44N/AN/A
Company Equity Multiplier
1.291.311.311.241.171.171.171.223.001.24
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.600.630.640.670.660.670.660.680.110.66
Free Cash Flow / Operating Cash Flow Ratio
0.760.800.870.800.850.840.810.720.150.85
Cash Flow Coverage Ratio
0.910.95N/AN/AN/AN/AN/A9.44N/AN/A
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/AN/A9.44N/AN/A
Dividend Payout Ratio
N/AN/AN/AN/AN/AN/AN/AN/A8.96%N/A