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 5,888 - -
Change - -6.92% -11.47% -8.97% -11.45% 0.18% - -
Enterprise Value (EV) 1 13,467 12,810 12,296 11,920 11,065 11,040 11,251 11,206
Change - -4.88% -4.01% -3.06% -7.18% -0.22% 1.92% -0.4%
P/E 10.7x 15.1x 23.9x 35.9x 23.2x 19.7x 19.4x 20.1x
PBR 1.25x 1.19x 1.06x 1x 0.91x 0.9x 0.91x 0.92x
PEG - -0.4x -0.5x -0.9x 0.6x 1.1x 13.67x -5.73x
Capitalization / Revenue 13x 11.3x 9.93x 9.13x 8.3x 8.18x 7.98x 7.85x
EV / Revenue 19.8x 17.5x 16.8x 16.4x 15.6x 15.3x 15.3x 14.9x
EV / EBITDA 26.4x 24.6x 23.7x 22.6x 21.2x 21.4x 21.1x 20.8x
EV / EBIT 26.5x 24.8x 23.9x 22.8x 21.5x 21.2x 21x 20.7x
EV / FCF -35.8x 36.6x 21.4x 25.3x 21.6x 21.9x 18.7x 18.3x
FCF Yield -2.79% 2.73% 4.66% 3.95% 4.62% 4.56% 5.36% 5.47%
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% 6.24% 6.45% 6.54%
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 1.150 1.150 1.150
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.49x15.26x21.28x6.29% 4.61B
41.55x19.33x24.69x3.09% 131B
18.78x15.85x18.07x1.1% 40.33B
33.6x15.57x22.06x3.19% 10.66B
26.15x13.53x19.77x3.21% 8.18B
614.99x9.31x13.14x4.74% 8.23B
21.63x13.27x17.17x4.13% 7.4B
34.35x11.71x15.97x4.1% 7.27B
33.33x16.28x24.63x3.28% 7.17B
8.45x18.9x21.74x5.44% 6.1B
Average 85.23x 14.90x 19.85x 3.86% 23.14B
Weighted average by Cap. 54.63x 17.37x 22.17x 3.01%

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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