Company Valuation: CapitaLand Ascendas REIT

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 12,384 11,519 13,313 11,309 13,052 10,840 - -
Change - -6.98% 15.57% -15.05% 15.41% -16.95% - -
Enterprise Value (EV) 1 18,704 18,091 20,258 18,296 20,163 18,639 18,790 18,939
Change - -3.28% 11.98% -9.69% 10.2% -7.56% 0.81% 0.79%
P/E 12.8x 15.3x 77.2x 15x 16.7x 14.2x 13.6x 12.9x
PBR 1.24x 1.16x 1.34x 1.13x 1.24x 0.93x 0.93x 0.93x
PEG - -0.7x -1x 0x -12.64x -1.43x 3.2x 2.41x
Capitalization / Revenue 10.1x 8.52x 9x 7.43x 8.48x 6.55x 6.23x 6.02x
EV / Revenue 15.3x 13.4x 13.7x 12x 13.1x 11.3x 10.8x 10.5x
EV / EBITDA 22.8x 20.8x 22x 19.2x 20.9x 17.7x 17x 16.5x
EV / EBIT 22.8x 20.8x 22x 19.2x 20.9x 17.8x 17.1x 16.7x
EV / FCF 30.5x 20.3x 25.8x 20.7x 21.1x 40.6x 17.4x 16.9x
FCF Yield 3.27% 4.93% 3.88% 4.84% 4.74% 2.46% 5.74% 5.91%
Dividend per Share 2 0.1526 0.158 0.1516 0.152 0.15 0.1511 0.1564 0.1616
Rate of return 5.17% 5.77% 5% 5.92% 5.3% 6.96% 7.21% 7.45%
EPS 2 0.2297 0.1789 0.0393 0.1718 0.1695 0.1526 0.1591 0.1676
Distribution rate 66.4% 88.3% 386% 88.5% 88.5% 99% 98.3% 96.4%
Net sales 1 1,226 1,353 1,480 1,523 1,539 1,656 1,741 1,801
EBITDA 1 819.9 868 920.4 951.3 963.5 1,053 1,107 1,148
EBIT 1 819.9 868 920.4 951.3 963.5 1,049 1,101 1,137
Net income 1 957 760.4 178.5 764.1 769.7 734.4 780.2 812.8
Net Debt 1 6,320 6,572 6,946 6,987 7,111 7,799 7,951 8,099
Reference price 2 2.950 2.740 3.030 2.570 2.830 2.170 2.170 2.170
Nbr of stocks (in thousands) 4,197,930 4,203,991 4,393,607 4,400,309 4,611,952 4,995,215 - -
Announcement Date 08/02/22 02/02/23 01/02/24 06/02/25 05/02/26 - - -
1SGD in Million2SGD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.28x11.29x17.75x6.93% 8.49B
33.76x18.29x24.03x3.37% 121B
30.97x13.98x17.69x4.43% 65.81B
36.76x14.71x15.18x5.87% 52.4B
18.07x15.3x17.4x1.14% 37.31B
16.22x25.16x27.55x3.54% 16.56B
26.49x10.61x14.62x4.74% 15.21B
8.26x11.77x14.4x6.15% 14.51B
17.73x15.95x23.19x5.42% 13.77B
29.35x11.22x16.38x4.16% 13.35B
Average 23.19x 14.83x 18.82x 4.58% 35.81B
Weighted average by Cap. 28.66x 15.87x 19.79x 4.07%

Y-o-Y evolution of P/E

Valuation ratios - P/E - CapitaLand Ascendas REIT

Historical PBR trend

Valuation ratios - PBR - CapitaLand Ascendas REIT

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - CapitaLand Ascendas REIT

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - CapitaLand Ascendas REIT


Year-on-year evolution of the Yield

Valuation ratios - Yield - CapitaLand Ascendas REIT
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