Company Valuation: Mapletree Logistics Trust

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 8,848 8,235 7,291 6,637 5,878 6,297 - -
Change - -6.92% -11.47% -8.97% -11.45% 7.14% - -
Enterprise Value (EV) 1 13,467 12,810 12,296 11,920 11,065 11,625 11,678 11,672
Change - -4.88% -4.01% -3.06% -7.18% 5.06% 0.46% -0.05%
P/E 10.7x 15.1x 23.9x 35.9x 23.2x 21.6x 21x 21.7x
PBR 1.25x 1.19x 1.06x 1x 0.91x 0.97x 0.98x 0.99x
PEG - -0.4x -0.5x -0.9x 0.6x 1.4x 7.43x -6.46x
Capitalization / Revenue 13x 11.3x 9.93x 9.13x 8.3x 8.66x 8.51x 8.36x
EV / Revenue 19.8x 17.5x 16.8x 16.4x 15.6x 16x 15.8x 15.5x
EV / EBITDA 26.4x 24.6x 23.7x 22.6x 21.2x 22.1x 21.7x 21.5x
EV / EBIT 26.5x 24.8x 23.9x 22.8x 21.5x 22.2x 21.8x 21.5x
EV / FCF -35.8x 36.6x 21.4x 25.3x 21.6x 22.9x 19.3x 18.9x
FCF Yield -2.79% 2.73% 4.66% 3.95% 4.62% 4.37% 5.19% 5.28%
Dividend per Share 2 0.0879 0.0901 0.09 0.0805 0.0726 0.0721 0.0741 0.0753
Rate of return 4.75% 5.27% 6.17% 6.15% 6.31% 5.86% 6.02% 6.12%
EPS 2 0.1723 0.1136 0.0611 0.0365 0.0496 0.057 0.0586 0.0566
Distribution rate 51% 79.3% 147% 221% 146% 126% 126% 133%
Net sales 1 678.6 730.6 733.9 727 708.3 727.4 740.3 752.9
EBITDA 1 511 521.6 518.9 527.4 522.2 526.9 538.6 543.7
EBIT 1 507.4 517.5 513.9 522 515.4 524.6 536.3 543.6
Net income 1 762.9 545.1 303.1 183.5 254.5 301.1 308.5 314.8
Net Debt 1 4,619 4,575 5,005 5,283 5,187 5,327 5,381 5,375
Reference price 2 1.850 1.710 1.460 1.310 1.150 1.230 1.230 1.230
Nbr of stocks (in thousands) 4,782,707 4,816,004 4,993,959 5,066,733 5,110,907 5,119,897 - -
Announcement Date 28/04/22 01/05/23 29/04/24 23/04/25 30/04/26 - - -
1SGD in Million2SGD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.58x15.98x22.06x5.86% 4.88B
45.48x19.24x25.13x3.04% 131B
24.75x19.97x22.92x1.01% 42.63B
35.86x16.4x23.23x3.03% 11.25B
28.37x13.96x20.71x3.04% 8.62B
27.34x11.08x15.73x5.11% 7.64B
34.87x11.8x16.24x3.96% 7.45B
15.93x13.56x17.45x4.39% 7.38B
35.65x16.3x24.88x3.05% 7.37B
8.34x19.11x21.59x5.17% 5.92B
Average 27.82x 15.74x 20.99x 3.77% 23.46B
Weighted average by Cap. 37.02x 18.20x 23.48x 2.92%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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