Company Valuation: CapitaLand China Trust

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,975 1,875 1,571 1,239 1,349 1,046 - -
Change - -5.07% -16.22% -21.14% 8.92% -22.51% - -
Enterprise Value (EV) 1 3,675 3,590 3,278 2,861 2,809 2,512 2,511 2,514
Change - -2.34% -8.67% -12.73% -1.81% -10.59% -0.05% 0.14%
P/E 17.3x 15.3x 38.8x -67.9x -136x 12.7x 13.9x 13.6x
PBR 0.76x 0.81x 0.77x 0.64x 0.75x 0.58x 0.59x 0.59x
PEG - 2.39x -0.6x 0x 2.9x -0x -1.58x 5.39x
Capitalization / Revenue 5.22x 4.89x 4.31x 3.63x 4.44x 3.47x 3.43x 3.35x
EV / Revenue 9.72x 9.37x 8.99x 8.38x 9.25x 8.35x 8.23x 8.05x
EV / EBITDA 16x 15.5x 14.6x 13.8x 15.5x 14.1x 13.7x 13.4x
EV / EBIT 16.1x 15.5x 14.6x 13.9x 15.5x 14.6x 14.3x 13.9x
EV / FCF 19.7x 25.1x 19.4x 18x 20.7x 96.6x 139x 1,257x
FCF Yield 5.07% 3.99% 5.15% 5.54% 4.83% 1.04% 0.72% 0.08%
Dividend per Share 2 0.0873 0.075 0.0674 0.0565 0.0482 0.0478 0.0484 0.0507
Rate of return 7.34% 6.7% 7.25% 7.85% 6.22% 8.03% 8.13% 8.52%
EPS 2 0.0686 0.073 0.024 -0.0106 -0.0057 0.047 0.0428 0.0439
Distribution rate 127% 103% 281% -533% -846% 102% 113% 116%
Net sales 1 378 383.2 364.7 341.5 303.7 300.9 304.9 312.4
EBITDA 1 230.3 232.3 225.1 206.9 181.4 177.9 182.8 187.2
EBIT 1 228.9 231.1 224 206.2 180.8 172.4 176 180.4
Net income 1 103.3 119.6 37.45 -18.07 -9.938 85.42 79.94 85.78
Net Debt 1 1,701 1,715 1,708 1,622 1,460 1,466 1,465 1,469
Reference price 2 1.1900 1.1200 0.9300 0.7200 0.7750 0.5950 0.5950 0.5950
Nbr of stocks (in thousands) 1,659,528 1,673,893 1,688,862 1,720,367 1,740,903 1,757,150 - -
Announcement Date 1/30/22 2/2/23 1/29/24 2/5/25 2/4/26 - - -
1SGD in Million2SGD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
12.67x8.35x14.12x8.03% 818M
33.26x18.03x21.82x3.35% 122B
34.04x14.67x18.81x4.14% 70.46B
37.77x14.9x15.4x5.73% 53.7B
18.5x15.6x17.81x1.12% 38.84B
14x22.71x27.43x3.59% 16.54B
28.53x11.04x15.17x4.4% 16.29B
8.24x11.94x14.63x6.06% 14.69B
18.05x16.28x23.88x5.27% 14.23B
29.92x11.35x16.61x4.07% 13.63B
Average 23.50x 14.49x 18.57x 4.58% 36.08B
Weighted average by Cap. 29.61x 15.96x 19.38x 3.9%

Y-o-Y evolution of P/E

Valuation ratios - P/E - CapitaLand China Trust

Historical PBR trend

Valuation ratios - PBR - CapitaLand China Trust

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - CapitaLand China Trust

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - CapitaLand China Trust


Year-on-year evolution of the Yield

Valuation ratios - Yield - CapitaLand China Trust
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