Company Valuation: CapitaLand Ascendas REIT

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 12,384 11,519 13,313 11,309 13,052 10,989 - -
Change - -6.98% 15.57% -15.05% 15.41% -15.8% - -
Enterprise Value (EV) 1 18,704 18,091 20,258 18,296 20,163 18,783 18,935 19,083
Change - -3.28% 11.98% -9.69% 10.2% -6.84% 0.81% 0.78%
P/E 12.8x 15.3x 77.2x 15x 16.7x 14.3x 13.9x 13.3x
PBR 1.24x 1.16x 1.34x 1.13x 1.24x 0.94x 0.94x 0.94x
PEG - -0.7x -1x 0x -12.64x -1.59x 5.5x 3.01x
Capitalization / Revenue 10.1x 8.52x 9x 7.43x 8.48x 6.64x 6.32x 6.1x
EV / Revenue 15.3x 13.4x 13.7x 12x 13.1x 11.3x 10.9x 10.6x
EV / EBITDA 22.8x 20.8x 22x 19.2x 20.9x 17.9x 17.1x 16.7x
EV / EBIT 22.8x 20.8x 22x 19.2x 20.9x 17.9x 17.2x 16.8x
EV / FCF 30.5x 20.3x 25.8x 20.7x 21.1x 2,783x 20.9x 20.2x
FCF Yield 3.27% 4.93% 3.88% 4.84% 4.74% 0.04% 4.78% 4.96%
Dividend per Share 2 0.1526 0.158 0.1516 0.152 0.15 0.1512 0.1567 0.1623
Rate of return 5.17% 5.77% 5% 5.92% 5.3% 6.88% 7.12% 7.38%
EPS 2 0.2297 0.1789 0.0393 0.1718 0.1695 0.1543 0.1582 0.1652
Distribution rate 66.4% 88.3% 386% 88.5% 88.5% 98% 99% 98.2%
Net sales 1 1,226 1,353 1,480 1,523 1,539 1,655 1,740 1,800
EBITDA 1 819.9 868 920.4 951.3 963.5 1,052 1,105 1,145
EBIT 1 819.9 868 920.4 951.3 963.5 1,048 1,098 1,134
Net income 1 957 760.4 178.5 764.1 769.7 737 784.8 819.9
Net Debt 1 6,320 6,572 6,946 6,987 7,111 7,794 7,945 8,094
Reference price 2 2.950 2.740 3.030 2.570 2.830 2.200 2.200 2.200
Nbr of stocks (in thousands) 4,197,930 4,203,991 4,393,607 4,400,309 4,611,952 4,995,215 - -
Announcement Date 8/2/22 2/2/23 1/2/24 6/2/25 5/2/26 - - -
1SGD in Million2SGD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.23x11.36x17.84x6.85% 8.62B
37.92x18.12x23x3.36% 121B
30.09x13.69x17.42x4.56% 63.93B
35.28x14.35x14.8x6.12% 50.32B
17.9x15.13x17.23x1.15% 37.19B
16.05x24.98x27.35x3.58% 16.33B
25.53x10.36x14.28x4.91% 14.66B
8.04x11.79x14.44x6.21% 14.36B
18.19x16.18x23.51x5.3% 14.11B
28.45x10.97x16.01x4.29% 12.94B
Average 23.17x 14.69x 18.59x 4.63% 35.34B
Weighted average by Cap. 29.57x 15.70x 19.35x 4.12%

Y-o-Y evolution of P/E

Valuation ratios - P/E - CapitaLand Ascendas REIT

Historical PBR trend

Valuation ratios - PBR - CapitaLand Ascendas REIT

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - CapitaLand Ascendas REIT

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - CapitaLand Ascendas REIT


Year-on-year evolution of the Yield

Valuation ratios - Yield - CapitaLand Ascendas REIT
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