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 6,093 - -
Change - -6.92% -11.47% -8.97% -11.45% 3.66% - -
Enterprise Value (EV) 1 13,467 12,810 12,296 11,920 11,065 11,429 11,492 11,469
Change - -4.88% -4.01% -3.06% -7.18% 3.3% 0.55% -0.2%
P/E 10.7x 15.1x 23.9x 35.9x 23.2x 20.7x 20.1x 21.3x
PBR 1.25x 1.19x 1.06x 1x 0.91x 0.93x 0.94x 0.96x
PEG - -0.4x -0.5x -0.9x 0.6x 1.3x 6.39x -3.75x
Capitalization / Revenue 13x 11.3x 9.93x 9.13x 8.3x 8.4x 8.25x 8.12x
EV / Revenue 19.8x 17.5x 16.8x 16.4x 15.6x 15.8x 15.6x 15.3x
EV / EBITDA 26.4x 24.6x 23.7x 22.6x 21.2x 21.9x 21.5x 21.2x
EV / EBIT 26.5x 24.8x 23.9x 22.8x 21.5x 21.9x 21.5x 21.2x
EV / FCF -35.8x 36.6x 21.4x 25.3x 21.6x 22.7x 19.1x 18.7x
FCF Yield -2.79% 2.73% 4.66% 3.95% 4.62% 4.41% 5.25% 5.35%
Dividend per Share 2 0.0879 0.0901 0.09 0.0805 0.0726 0.0721 0.0741 0.0752
Rate of return 4.75% 5.27% 6.17% 6.15% 6.31% 6.06% 6.23% 6.32%
EPS 2 0.1723 0.1136 0.0611 0.0365 0.0496 0.0575 0.0594 0.056
Distribution rate 51% 79.3% 147% 221% 146% 125% 125% 134%
Net sales 1 678.6 730.6 733.9 727 708.3 725.6 738.3 750.4
EBITDA 1 511 521.6 518.9 527.4 522.2 521.6 534.2 539.9
EBIT 1 507.4 517.5 513.9 522 515.4 523 534.8 541.4
Net income 1 762.9 545.1 303.1 183.5 254.5 304.4 313.9 314.2
Net Debt 1 4,619 4,575 5,005 5,283 5,187 5,336 5,399 5,376
Reference price 2 1.850 1.710 1.460 1.310 1.150 1.190 1.190 1.190
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.($)
20.68x15.75x21.91x6.06% 4.72B
44.22x20.01x24.86x2.91% 137B
24.39x19.75x22.59x1.02% 42.22B
35.5x16.59x23.45x3.02% 11.32B
29.34x14.35x20.95x3% 8.81B
32.26x11.06x15.59x4.53% 8.61B
36.36x12.15x16.72x3.8% 7.77B
37.53x17.07x25.99x2.9% 7.76B
23.16x13.29x18.61x4.51% 7.34B
8.86x19.86x22.44x4.87% 6.23B
Average 29.23x 15.99x 21.31x 3.66% 24.22B
Weighted average by Cap. 36.92x 18.65x 23.40x 2.83%

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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