Company Valuation: Frasers Logistics & Commercial Trust

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,686 4,918 4,528 4,860 4,204 3,901 - -
Change - -13.51% -7.92% 7.32% -13.49% -7.2% - -
Enterprise Value (EV) 1 8,240 6,978 6,826 7,461 6,982 6,752 6,778 6,805
Change - -15.31% -2.19% 9.3% -6.41% -3.3% 0.38% 0.4%
P/E 7.42x 6.12x -38.2x 28.8x 17.4x 19x 17.6x 17.1x
PBR 1.24x 0.93x 0.9x 1x 0.85x 0.84x 0.84x 0.84x
PEG - 1.45x 0x -0x 0.4x -1.2x 2.24x 5.94x
Capitalization / Revenue 12.1x 9.87x 9.38x 9.5x 7.52x 7.37x 6.98x 6.75x
EV / Revenue 17.5x 14x 14.1x 14.6x 12.5x 12.8x 12.1x 11.8x
EV / EBITDA 25.7x 20.9x 22x 23.4x 20x 19.9x 18.7x 17.8x
EV / EBIT 25.7x 20.9x 22x 23.4x 20x 19.9x 18.7x 18x
EV / FCF -315x 7.66x 42.2x 29.3x 23.4x 18.4x 17.8x 17.3x
FCF Yield -0.32% 13.1% 2.37% 3.41% 4.27% 5.42% 5.62% 5.77%
Dividend per Share 2 0.0772 0.0836 0.0807 0.0776 0.0705 0.0644 0.0654 0.0667
Rate of return 4.99% 6.28% 6.65% 6% 6.34% 6.27% 6.37% 6.5%
EPS 2 0.2084 0.2172 -0.0318 0.0449 0.0641 0.0541 0.0584 0.0601
Distribution rate 37% 38.5% -254% 173% 110% 119% 112% 111%
Net sales 1 471.7 498.2 482.5 511.3 558.8 529.5 558.7 577.7
EBITDA 1 320.7 333.4 309.9 319.3 349.8 339.7 363.3 383.1
EBIT 1 320.7 333.3 309.9 319.2 349.8 339.1 361.5 379
Net income 1 734.8 806.3 -118.1 168.9 243.1 201.7 214.6 225.6
Net Debt 1 2,554 2,061 2,297 2,601 2,778 2,851 2,877 2,904
Reference price 2 1.547 1.331 1.214 1.293 1.113 1.026 1.026 1.026
Nbr of stocks (in thousands) 3,676,420 3,696,167 3,728,941 3,757,818 3,778,193 3,801,262 - -
Announcement Date 11/10/21 11/9/22 11/1/23 11/5/24 11/6/25 - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
42.02x19.5x24.91x3.06% 133B
18.96x16.03x18.24x1.09% 40.61B
33.78x15.79x22.34x3.19% 10.71B
615.49x9.31x13.12x4.73% 8.24B
24x13.64x19.91x3.22% 8.2B
22.16x13.51x17.48x4.03% 7.55B
31.38x16.23x24.63x3.3% 7.21B
33.94x11.61x15.84x4.15% 7.18B
8.63x19.18x22.06x5.32% 6.24B
Average 92.26x 14.98x 19.83x 3.57% 25.44B
Weighted average by Cap. 55.37x 17.58x 22.38x 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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