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 6,195 - -
Change - -6.92% -11.47% -8.97% -11.45% 5.4% - -
Enterprise Value (EV) 1 13,467 12,810 12,296 11,920 11,065 11,523 11,577 11,571
Change - -4.88% -4.01% -3.06% -7.18% 4.15% 0.47% -0.05%
P/E 10.7x 15.1x 23.9x 35.9x 23.2x 21.2x 20.6x 21.4x
PBR 1.25x 1.19x 1.06x 1x 0.91x 0.95x 0.96x 0.97x
PEG - -0.4x -0.5x -0.9x 0.6x 1.4x 7.29x -6.37x
Capitalization / Revenue 13x 11.3x 9.93x 9.13x 8.3x 8.53x 8.38x 8.25x
EV / Revenue 19.8x 17.5x 16.8x 16.4x 15.6x 15.9x 15.7x 15.4x
EV / EBITDA 26.4x 24.6x 23.7x 22.6x 21.2x 22x 21.6x 21.4x
EV / EBIT 26.5x 24.8x 23.9x 22.8x 21.5x 22x 21.6x 21.4x
EV / FCF -35.8x 36.6x 21.4x 25.3x 21.6x 22.7x 19.1x 18.8x
FCF Yield -2.79% 2.73% 4.66% 3.95% 4.62% 4.4% 5.24% 5.33%
Dividend per Share 2 0.0879 0.0901 0.09 0.0805 0.0726 0.0721 0.0741 0.0753
Rate of return 4.75% 5.27% 6.17% 6.15% 6.31% 5.96% 6.12% 6.22%
EPS 2 0.1723 0.1136 0.0611 0.0365 0.0496 0.057 0.0586 0.0566
Distribution rate 51% 79.3% 147% 221% 146% 126% 126% 133%
Net sales 1 678.6 730.6 733.9 727 708.3 726.1 739 751.2
EBITDA 1 511 521.6 518.9 527.4 522.2 524.6 536.2 540.6
EBIT 1 507.4 517.5 513.9 522 515.4 523.2 534.9 541.4
Net income 1 762.9 545.1 303.1 183.5 254.5 301.1 308.5 314.8
Net Debt 1 4,619 4,575 5,005 5,283 5,187 5,328 5,382 5,376
Reference price 2 1.850 1.710 1.460 1.310 1.150 1.210 1.210 1.210
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 28/04/22 01/05/23 29/04/24 23/04/25 30/04/26 - - -
1SGD in Million2SGD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.23x15.87x21.97x5.96% 4.8B
51.47x20.05x24.12x2.86% 140B
24.29x19.61x22.5x1.02% 41.99B
38.01x17.26x24.45x2.86% 11.93B
30.07x14.61x21.66x2.87% 9.13B
29.61x11.85x16.84x4.66% 8.39B
37.29x12.37x17.02x3.7% 7.97B
38.59x17.49x26.63x2.82% 7.98B
15.92x13.58x17.58x4.48% 7.36B
8.58x19.46x21.99x5.03% 6.11B
Average 29.51x 16.22x 21.47x 3.63% 24.54B
Weighted average by Cap. 41.02x 18.73x 23.08x 2.8%

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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