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 5,990 - -
Change - -6.92% -11.47% -8.97% -11.45% 1.92% - -
Enterprise Value (EV) 1 13,467 12,810 12,296 11,920 11,065 11,142 11,354 11,308
Change - -4.88% -4.01% -3.06% -7.18% 0.7% 1.9% -0.4%
P/E 10.7x 15.1x 23.9x 35.9x 23.2x 20x 19.7x 20.4x
PBR 1.25x 1.19x 1.06x 1x 0.91x 0.91x 0.93x 0.94x
PEG - -0.4x -0.5x -0.9x 0.6x 1.1x 13.88x -5.82x
Capitalization / Revenue 13x 11.3x 9.93x 9.13x 8.3x 8.32x 8.12x 7.99x
EV / Revenue 19.8x 17.5x 16.8x 16.4x 15.6x 15.5x 15.4x 15.1x
EV / EBITDA 26.4x 24.6x 23.7x 22.6x 21.2x 21.6x 21.3x 21x
EV / EBIT 26.5x 24.8x 23.9x 22.8x 21.5x 21.4x 21.2x 20.9x
EV / FCF -35.8x 36.6x 21.4x 25.3x 21.6x 22.1x 18.8x 18.4x
FCF Yield -2.79% 2.73% 4.66% 3.95% 4.62% 4.52% 5.31% 5.42%
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% 6.13% 6.34% 6.43%
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 1 511 521.6 518.9 527.4 522.2 516.5 534.3 539.7
EBIT 1 507.4 517.5 513.9 522 515.4 520.1 534.9 541.2
Net income 1 762.9 545.1 303.1 183.5 254.5 316.6 316.3 316.4
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 1.170 1.170 1.170
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.01x15.47x21.57x6.13% 4.72B
42.58x19.71x25.17x3.02% 135B
17.37x15.77x17.94x1.11% 39.97B
34.03x15.89x22.48x3.17% 10.79B
24.41x13.81x20.17x3.17% 8.34B
618.64x9.35x13.18x4.71% 8.28B
32.31x16.64x25.26x3.21% 7.43B
21.72x13.26x18.39x4.45% 7.46B
33.42x11.49x15.67x4.22% 7.07B
8.69x19.59x22.26x5.32% 6.32B
Average 85.32x 15.10x 20.21x 3.85% 23.51B
Weighted average by Cap. 54.92x 17.65x 22.57x 2.98%

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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