Financials Daiwa House Logistics Trust

Equities

DHLU

SGXC62140063

Commercial REITs

Delayed Singapore S.E. 09:08:59 08/05/2024 BST 5-day change 1st Jan Change
0.58 SGD +1.75% Intraday chart for Daiwa House Logistics Trust +1.75% -11.45%

Valuation

Fiscal Period: December 2022 2023 2024 2025 2026
Capitalization 1 439.8 455.6 397 - -
Enterprise Value (EV) 1 729.1 455.6 757.4 759.2 670.4
P/E ratio 3.04 x 10.5 x 13.1 x 12.8 x 14.3 x
Yield 8.98% - 8.95% 8.95% 8.77%
Capitalization / Revenue 6.4 x 7.61 x 6.34 x 6.12 x 6.22 x
EV / Revenue 10.6 x 7.61 x 12.1 x 11.7 x 10.5 x
EV / EBITDA 15.5 x 11.5 x 17 x 16.6 x 16 x
EV / FCF - - - - -
FCF Yield - - - - -
Price to Book 0.75 x - 0.74 x 0.74 x -
Nbr of stocks (in thousands) 692,535 695,503 696,460 - -
Reference price 2 0.6350 0.6550 0.5700 0.5700 0.5700
Announcement Date 23/02/23 27/02/24 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2022 2023 2024 2025 2026
Net sales 1 71.02 68.72 59.85 62.66 64.84 63.82
EBITDA 1 - 47.03 39.48 44.62 45.63 42.01
EBIT 1 - 47.03 39.48 44.62 45.63 42.01
Operating Margin - 68.44% 65.96% 71.21% 70.37% 65.82%
Earnings before Tax (EBT) 1 - 162.5 49.71 39 40 -
Net income 1 25.95 140.3 42.47 33 34 -
Net margin 36.54% 204.16% 70.96% 52.67% 52.44% -
EPS 2 - 0.2090 0.0626 0.0435 0.0445 0.0400
Free Cash Flow - - - - - -
FCF margin - - - - - -
FCF Conversion (EBITDA) - - - - - -
FCF Conversion (Net income) - - - - - -
Dividend per Share 2 - 0.0570 - 0.0510 0.0510 0.0500
Announcement Date 23/11/21 23/02/23 27/02/24 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2023 S1
Net sales 1 30.9
EBITDA -
EBIT -
Operating Margin -
Earnings before Tax (EBT) -
Net income -
Net margin -
EPS -
Dividend per Share 2 0.0261
Announcement Date 02/08/23
1SGD in Million2SGD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2022 2023 2024 2025 2026
Net Debt 1 - 289 - 360 362 273
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) - 6.152 x - 8.078 x 7.939 x 6.508 x
Free Cash Flow - - - - - -
ROE (net income / shareholders' equity) - 23.8% - 5.93% 6.01% 5.48%
ROA (Net income/ Total Assets) - 11.9% - 2.9% 2.9% -
Assets 1 - 1,177 - 1,138 1,172 -
Book Value Per Share 2 - 0.8500 - 0.7700 0.7700 -
Cash Flow per Share 2 - 0.0900 - 0.0600 0.0500 -
Capex 1 - 886 - 59 2 -
Capex / Sales - 1,288.9% - 94.16% 3.08% -
Announcement Date 23/11/21 23/02/23 27/02/24 - - -
1SGD in Million2SGD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
4
Last Close Price
0.57 SGD
Average target price
0.75 SGD
Spread / Average Target
+31.58%
Consensus

Annual profits - Rate of surprise

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