Financials Link Real Estate Investment Trust

Equities

823

HK0823032773

Commercial REITs

Market Closed - Hong Kong S.E. 09:08:30 22/04/2026 BST 5-day change 1st Jan Change
39.04 HKD +1.04% Intraday chart for Link Real Estate Investment Trust +1.30% +12.38%

Projected Income Statement: Link Real Estate Investment Trust

Forecast Balance Sheet: Link Real Estate Investment Trust

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 36,106 51,343 47,574 49,262 49,303 50,037 50,850 51,604
Change - 42.2% -7.34% 3.55% 0.08% 1.49% 1.62% 1.48%
Announcement Date 17/06/21 01/06/22 31/05/23 29/05/24 27/05/25 - - -
1HKD in Million
Estimates

Cash Flow Forecast: Link Real Estate Investment Trust

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 1,646 886 820 1,062 1,202 962.3 795.6 795.6
Change - -46.17% -7.45% 29.51% 13.18% -19.94% -17.32% 0%
Free Cash Flow (FCF) 1 5,432 5,812 6,821 7,419 7,811 8,259 8,107 8,180
Change - 7% 17.36% 8.77% 5.28% 5.74% -1.84% 0.9%
Announcement Date 17/06/21 01/06/22 31/05/23 29/05/24 27/05/25 - - -
1HKD in Million
Estimates

Forecast Financial Ratios: Link Real Estate Investment Trust

Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 73.54% 71.95% 70.61% 69.21% 68.83% 67.4% 67.38% 67.5%
EBIT Margin (%) 72.69% 71.23% 69.85% 68.52% 68.23% 67.12% 67.44% 67.62%
EBT Margin (%) 17.16% 70.13% 133.23% -6.74% -62.34% 55.91% 55.11% 57.55%
Net margin (%) 11.03% 59.42% 126.3% -14.6% -62.31% 46.72% 46.2% 51.33%
FCF margin (%) 50.56% 50.09% 55.75% 54.64% 54.92% 59.26% 58.59% 58.79%
FCF / Net Income (%) 458.4% 84.31% 44.15% -374.13% -88.13% 126.85% 126.81% 114.53%

Profitability

        
ROA 0.57% 3.17% 2.72% 2.17% 3.08% 2.95% 2.86% 2.97%
ROE 0.74% 4.29% 3.82% 3.07% 4.33% 4% 4% 4.01%

Financial Health

        
Leverage (Debt/EBITDA) 4.57x 6.15x 5.51x 5.24x 5.04x 5.33x 5.45x 5.49x
Debt / Free cash flow 6.65x 8.83x 6.97x 6.64x 6.31x 6.06x 6.27x 6.31x

Capital Intensity

        
CAPEX / Current Assets (%) 15.32% 7.64% 6.7% 7.82% 8.45% 6.9% 5.75% 5.72%
CAPEX / EBITDA (%) 20.83% 10.61% 9.49% 11.3% 12.28% 10.24% 8.53% 8.47%
CAPEX / FCF (%) 30.3% 15.24% 12.02% 14.31% 15.39% 11.65% 9.81% 9.73%

Items per share

        
Cash flow per share 1 3.42 3.146 3.407 3.311 3.508 3.138 3.143 3.072
Change - -8.01% 8.28% -2.8% 5.93% -10.55% 0.16% -2.25%
Dividend per Share 1 2.9 3.057 2.743 2.626 2.723 2.543 2.518 2.545
Change - 5.41% -10.26% -4.25% 3.69% -6.62% -1% 1.08%
Book Value Per Share 1 76.24 77.1 73.98 70.02 63.3 62.41 62.49 63.04
Change - 1.13% -4.05% -5.35% -9.6% -1.41% 0.13% 0.89%
EPS 1 0.57 3.27 6.92 -0.77 -3.45 2.508 2.512 2.755
Change - 473.68% 111.62% -111.13% -348.05% 172.7% 0.17% 9.66%
Nbr of stocks (in thousands) 2,081,863 2,110,194 2,553,845 2,553,845 2,582,396 2,598,939 2,598,939 2,598,939
Announcement Date 17/06/21 01/06/22 31/05/23 29/05/24 27/05/25 - - -
1HKD
Estimates
2026 *2027 *
P/E ratio 15.4x 15.4x
PBR 0.62x 0.62x
EV / Sales 10.8x 10.9x
Yield 6.58% 6.52%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
38.64HKD
Average target price
42.16HKD
Spread / Average Target
+9.10%

Quarterly revenue - Rate of surprise

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