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 10,940 - -
Change - -6.98% 15.57% -15.05% 15.41% -16.18% - -
Enterprise Value (EV) 1 18,704 18,091 20,258 18,296 20,163 18,733 18,885 19,033
Change - -3.28% 11.98% -9.69% 10.2% -7.09% 0.81% 0.79%
P/E 12.8x 15.3x 77.2x 15x 16.7x 14.3x 13.8x 13.1x
PBR 1.24x 1.16x 1.34x 1.13x 1.24x 0.94x 0.94x 0.94x
PEG - -0.7x -1x 0x -12.64x -1.44x 3.25x 2.44x
Capitalization / Revenue 10.1x 8.52x 9x 7.43x 8.48x 6.61x 6.29x 6.08x
EV / Revenue 15.3x 13.4x 13.7x 12x 13.1x 11.3x 10.9x 10.6x
EV / EBITDA 22.8x 20.8x 22x 19.2x 20.9x 17.8x 17.1x 16.6x
EV / EBIT 22.8x 20.8x 22x 19.2x 20.9x 17.9x 17.2x 16.8x
EV / FCF 30.5x 20.3x 25.8x 20.7x 21.1x 40.8x 17.5x 17x
FCF Yield 3.27% 4.93% 3.88% 4.84% 4.74% 2.45% 5.71% 5.89%
Dividend per Share 2 0.1526 0.158 0.1516 0.152 0.15 0.1511 0.1564 0.1623
Rate of return 5.17% 5.77% 5% 5.92% 5.3% 6.9% 7.14% 7.41%
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% 96.8%
Net sales 1 1,226 1,353 1,480 1,523 1,539 1,655 1,740 1,800
EBITDA 1 819.9 868 920.4 951.3 963.5 1,052 1,105 1,145
EBIT 1 819.9 868 920.4 951.3 963.5 1,048 1,098 1,134
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 7,794 7,945 8,094
Reference price 2 2.950 2.740 3.030 2.570 2.830 2.190 2.190 2.190
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 2/8/22 2/2/23 2/1/24 2/6/25 2/5/26 - - -
1SGD in Million2SGD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
38.57x18.38x23.5x3.31% 123B
30.37x13.77x17.28x4.52% 64.52B
35.86x14.48x14.96x6.02% 51.1B
18.61x15.71x17.9x1.11% 38.76B
16.14x25.08x27.47x3.56% 16.46B
25.9x10.46x14.41x4.84% 14.86B
7.9x11.71x14.35x6.32% 14.13B
17.92x16.04x23.31x5.38% 13.91B
28.96x11.11x16.28x4.22% 13.16B
Average 24.47x 15.19x 18.83x 4.36% 38.89B
Weighted average by Cap. 30.44x 16.01x 19.64x 4%

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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