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 4,083 - -
Change - -13.51% -7.92% 7.32% -13.49% -2.87% - -
Enterprise Value (EV) 1 8,240 6,978 6,826 7,461 6,982 6,937 6,963 6,989
Change - -15.31% -2.19% 9.3% -6.41% -0.65% 0.37% 0.39%
P/E 7.42x 6.12x -38.2x 28.8x 17.4x 19.8x 18.4x 17.9x
PBR 1.24x 0.93x 0.9x 1x 0.85x 0.88x 0.88x 0.88x
PEG - 1.45x 0x -0x 0.4x -1.3x 2.34x 6.23x
Capitalization / Revenue 12.1x 9.87x 9.38x 9.5x 7.52x 7.71x 7.3x 7.06x
EV / Revenue 17.5x 14x 14.1x 14.6x 12.5x 13.1x 12.5x 12.1x
EV / EBITDA 25.7x 20.9x 22x 23.4x 20x 20.4x 19.2x 18.2x
EV / EBIT 25.7x 20.9x 22x 23.4x 20x 20.4x 19.2x 18.4x
EV / FCF -315x 7.66x 42.2x 29.3x 23.4x 18.9x 18.3x 17.8x
FCF Yield -0.32% 13.1% 2.37% 3.41% 4.27% 5.28% 5.47% 5.62%
Dividend per Share 2 0.0772 0.0836 0.0807 0.0776 0.0705 0.0644 0.0654 0.0668
Rate of return 4.99% 6.28% 6.65% 6% 6.34% 6% 6.09% 6.21%
EPS 2 0.2084 0.2172 -0.0318 0.0449 0.0641 0.0542 0.0584 0.0601
Distribution rate 37% 38.5% -254% 173% 110% 119% 112% 111%
Net sales 1 471.7 498.2 482.5 511.3 558.8 529.8 559 578.1
EBITDA 1 320.7 333.4 309.9 319.3 349.8 339.7 363.3 383.1
EBIT 1 320.7 333.3 309.9 319.2 349.8 339.4 361.7 379.2
Net income 1 734.8 806.3 -118.1 168.9 243.1 201.8 214.7 225.7
Net Debt 1 2,554 2,061 2,297 2,601 2,778 2,853 2,879 2,906
Reference price 2 1.547 1.331 1.214 1.293 1.113 1.074 1.074 1.074
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.($)
42.09x19.55x24.5x3.05% 133B
24.74x20.06x22.93x1.01% 43.25B
34.14x16.02x22.67x3.14% 10.88B
24.92x13.93x20.37x3.13% 8.44B
68.43x9.16x12.95x4.78% 8.17B
32.28x16.65x25.06x3.17% 7.49B
21.53x13.1x18.99x4.57% 7.29B
33.99x11.62x15.87x4.15% 7.19B
8.5x19.29x21.89x5.08% 6.09B
Average 32.29x 15.49x 20.58x 3.56% 25.78B
Weighted average by Cap. 36.69x 18.36x 23.07x 2.88%

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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