Company Valuation: Mapletree Logistics Trust

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 8,848 8,235 7,291 6,637 5,878 6,349 - -
Change - -6.92% -11.47% -8.97% -11.45% 8.02% - -
Enterprise Value (EV) 1 13,467 12,810 12,296 11,920 11,065 11,500 11,712 11,667
Change - -4.88% -4.01% -3.06% -7.18% 3.94% 1.84% -0.39%
P/E 10.7x 15.1x 23.9x 35.9x 23.2x 21.2x 20.9x 21.7x
PBR 1.25x 1.19x 1.06x 1x 0.91x 0.97x 0.98x 1x
PEG - -0.4x -0.5x -0.9x 0.6x 1.2x 14.73x -6.19x
Capitalization / Revenue 13x 11.3x 9.93x 9.13x 8.3x 8.82x 8.61x 8.47x
EV / Revenue 19.8x 17.5x 16.8x 16.4x 15.6x 16x 15.9x 15.6x
EV / EBITDA 26.4x 24.6x 23.7x 22.6x 21.2x 22.3x 21.9x 21.6x
EV / EBIT 26.5x 24.8x 23.9x 22.8x 21.5x 22.1x 21.9x 21.6x
EV / FCF -35.8x 36.6x 21.4x 25.3x 21.6x 22.8x 19.4x 19x
FCF Yield -2.79% 2.73% 4.66% 3.95% 4.62% 4.38% 5.15% 5.26%
Dividend per Share 2 0.0879 0.0901 0.09 0.0805 0.0726 0.0717 0.0742 0.0752
Rate of return 4.75% 5.27% 6.17% 6.15% 6.31% 5.78% 5.98% 6.06%
EPS 2 0.1723 0.1136 0.0611 0.0365 0.0496 0.0585 0.0593 0.0572
Distribution rate 51% 79.3% 147% 221% 146% 123% 125% 131%
Net sales 1 678.6 730.6 733.9 727 708.3 720.1 737.8 749.7
EBITDA 1 511 521.6 518.9 527.4 522.2 516.4 534.3 539.7
EBIT 1 507.4 517.5 513.9 522 515.4 520 534.9 541.2
Net income 1 762.9 545.1 303.1 183.5 254.5 330.2 316.3 316.4
Net Debt 1 4,619 4,575 5,005 5,283 5,187 5,152 5,363 5,318
Reference price 2 1.850 1.710 1.460 1.310 1.150 1.240 1.240 1.240
Nbr of stocks (in thousands) 4,782,707 4,816,004 4,993,959 5,066,733 5,110,907 5,119,897 - -
Announcement Date 4/28/22 5/1/23 4/29/24 4/23/25 4/30/26 - - -
1SGD in Million2SGD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.2x15.97x22.27x5.78% 4.95B
43.43x19.73x24.51x2.96% 135B
24.59x19.94x22.79x1.01% 42.73B
35.2x16.45x23.28x3.05% 11.22B
25.53x14.25x20.84x3.03% 8.73B
419.67x10.84x15.31x4.64% 8.4B
36.84x16.79x25.57x2.96% 7.62B
22.36x13.47x18.79x4.46% 7.48B
35.43x11.83x16.15x4.05% 7.38B
8.73x19.68x22.23x4.94% 6.22B
Average 67.30x 15.90x 21.17x 3.69% 23.97B
Weighted average by Cap. 49.74x 18.49x 23.18x 2.87%

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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