Company Valuation: Lendlease Global Commercial REIT

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,810 1,534 1,331 1,272 1,896 1,747 - -
Change - -15.28% -13.22% -4.4% 49.06% -7.89% - -
Enterprise Value (EV) 1 3,209 2,992 2,833 2,871 3,509 3,359 3,359 3,357
Change - -6.76% -5.31% 1.36% 22.21% -4.25% -0.03% -0.04%
P/E 8.09x 15.1x 22.6x 24x 15.3x 15.4x 15.2x 14.7x
PBR 1.02x 0.84x 0.74x 0.69x 0.81x 0.75x 0.76x 0.77x
PEG - -0.3x -0.5x -1.9x 0.2x -1.85x 16.25x 4.49x
Capitalization / Revenue 17.8x 7.49x 6.02x 6.16x 8.95x 7.12x 6.91x 6.74x
EV / Revenue 31.6x 14.6x 12.8x 13.9x 16.6x 13.7x 13.3x 12.9x
EV / EBITDA 53.8x 22.9x 19.7x 22.5x 27x 21.8x 21.1x 20.4x
EV / EBIT 53.8x 22.9x 19.7x 22.5x 27x 21.8x 21.1x 20.4x
EV / FCF -1.83x 17.7x 23.4x 19.5x 26.3x 20.6x 17.7x 17.3x
FCF Yield -54.6% 5.64% 4.28% 5.14% 3.8% 4.85% 5.66% 5.78%
Dividend per Share 2 0.0485 0.047 0.0387 0.036 0.037 0.0382 0.0388 0.0394
Rate of return 6.1% 7.12% 6.91% 6.92% 6.49% 7.27% 7.39% 7.5%
EPS 2 0.0983 0.0436 0.0248 0.0217 0.0373 0.0342 0.0345 0.0356
Distribution rate 49.3% 108% 156% 166% 99.2% 112% 112% 111%
Net sales 1 101.7 204.9 220.9 206.5 211.9 245.2 252.7 259.3
EBITDA 1 59.64 130.9 143.5 127.5 129.7 153.8 159.1 164.8
EBIT 1 59.64 130.9 143.5 127.5 129.7 153.8 159.3 164.8
Net income 1 140.4 99.92 58.23 52.41 107 101.8 104.6 107.1
Net Debt 1 1,398 1,458 1,502 1,599 1,612 1,613 1,612 1,611
Reference price 2 0.7950 0.6600 0.5600 0.5200 0.5700 0.5250 0.5250 0.5250
Nbr of stocks (in thousands) 2,277,126 2,323,662 2,376,578 2,446,669 3,327,029 3,327,029 - -
Announcement Date 07/08/22 07/08/23 05/08/24 04/08/25 03/08/26 - - -
1SGD in Million2SGD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.5x13.77x21.95x7.2% 1.38B
37.83x17.73x22.84x3.45% 118B
30.83x13.94x17.63x4.45% 65.52B
36.71x14.67x15.17x5.88% 52.36B
18.01x15.24x17.35x1.15% 37.53B
15.73x24.64x26.98x3.65% 16.15B
26.52x10.62x14.63x4.73% 15.22B
7.96x11.66x14.29x6.27% 14.26B
17.73x15.95x23.19x5.42% 13.8B
29.1x11.15x16.28x4.19% 13.23B
Average 23.59x 14.94x 19.03x 4.64% 34.74B
Weighted average by Cap. 30.23x 15.71x 19.35x 4.06%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Lendlease Global Commercial REIT

Historical PBR trend

Valuation ratios - PBR - Lendlease Global Commercial REIT

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Lendlease Global Commercial REIT

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Lendlease Global Commercial REIT


Year-on-year evolution of the Yield

Valuation ratios - Yield - Lendlease Global Commercial REIT
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