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 1,081 - -
Change - -5.07% -16.22% -21.14% 8.92% -19.9% - -
Enterprise Value (EV) 1 3,675 3,590 3,278 2,861 2,809 2,544 2,544 2,549
Change - -2.34% -8.67% -12.73% -1.81% -9.46% 0.01% 0.21%
P/E 17.3x 15.3x 38.8x -67.9x -136x 13.4x 14.4x 14x
PBR 0.76x 0.81x 0.77x 0.64x 0.75x 0.6x 0.61x 0.61x
PEG - 2.39x -0.6x 0x 2.9x -0x -2.13x 5.55x
Capitalization / Revenue 5.22x 4.89x 4.31x 3.63x 4.44x 3.55x 3.52x 3.46x
EV / Revenue 9.72x 9.37x 8.99x 8.38x 9.25x 8.35x 8.29x 8.16x
EV / EBITDA 16x 15.5x 14.6x 13.8x 15.5x 14.3x 13.9x 13.6x
EV / EBIT 16.1x 15.5x 14.6x 13.9x 15.5x 14.8x 14.5x 14.1x
EV / FCF 19.7x 25.1x 19.4x 18x 20.7x 23x 23.4x 25.2x
FCF Yield 5.07% 3.99% 5.15% 5.54% 4.83% 4.34% 4.27% 3.96%
Dividend per Share 2 0.0873 0.075 0.0674 0.0565 0.0482 0.0481 0.0495 0.0506
Rate of return 7.34% 6.7% 7.25% 7.85% 6.22% 7.82% 8.05% 8.23%
EPS 2 0.0686 0.073 0.024 -0.0106 -0.0057 0.0459 0.0428 0.0439
Distribution rate 127% 103% 281% -533% -846% 105% 116% 115%
Net sales 1 378 383.2 364.7 341.5 303.7 304.6 307 312.4
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 86.08 83.21 85.78
Net Debt 1 1,701 1,715 1,708 1,622 1,460 1,463 1,463 1,469
Reference price 2 1.1900 1.1200 0.9300 0.7200 0.7750 0.6150 0.6150 0.6150
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.39x8.35x14.3x7.82% 845M
38.39x18.29x23.22x3.32% 123B
30.6x13.85x17.62x4.48% 65.02B
35.8x14.47x14.94x6.03% 51.06B
17.75x15x17.09x1.16% 36.82B
16.07x25.01x27.38x3.57% 16.38B
25.99x10.48x14.46x4.84% 14.92B
7.92x11.67x14.3x6.3% 14.23B
17.95x16.04x23.31x5.37% 13.93B
28.77x11.06x16.15x4.24% 13.08B
Average 23.26x 14.42x 18.28x 4.71% 34.88B
Weighted average by Cap. 30.32x 15.88x 19.49x 4.03%

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

  1. Stock Market
  2. Stocks
  3. AU8U Stock
  4. Valuation CapitaLand China Trust