MAPLETREE INDUSTRIAL TRUST |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.27 SGD | 0.00% |
|
+3.65% | -9.56% |
| Apr. 26 | Transcript : Mapletree Industrial Trust, Q4 2024 Earnings Call, Apr 26, 2024 | |
| Apr. 26 | Mapletree Industrial Trust's DPU Edges Up in Fiscal Q4 | MT |
Valuation
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 4,244 | 5,348 | 6,442 | 7,200 | 6,493 | 6,435 | - | - |
| Enterprise Value (EV) 1 | 5,214 | 6,354 | 8,653 | 9,990 | 9,228 | 9,500 | 9,558 | 9,630 |
| P/E ratio | 14.7 x | 14 x | 38.5 x | 15.9 x | 22.7 x | 17.1 x | 15.8 x | 15.1 x |
| Yield | 5.79% | 5.04% | 4.58% | 5.13% | 5.73% | 5.83% | 5.94% | 6.1% |
| Capitalization / Revenue | 11.3 x | 13.2 x | 14.4 x | 11.8 x | 9.48 x | 9.24 x | 8.99 x | 8.76 x |
| EV / Revenue | 13.9 x | 15.7 x | 19.3 x | 16.4 x | 13.5 x | 13.6 x | 13.4 x | 13.1 x |
| EV / EBITDA | 20.5 x | 22.5 x | 27.8 x | 24.4 x | 20.5 x | 20.2 x | 19.7 x | 19.3 x |
| EV / FCF | 21.3 x | 22.2 x | 36.6 x | 20.1 x | 31.5 x | 19.9 x | 20.4 x | 19 x |
| FCF Yield | 4.7% | 4.51% | 2.74% | 4.98% | 3.18% | 5.02% | 4.91% | 5.25% |
| Price to Book | 1.39 x | 1.5 x | 1.65 x | 1.45 x | 1.28 x | 1.2 x | 1.2 x | 1.2 x |
| Nbr of stocks (in thousands) | 2,021,111 | 2,201,002 | 2,351,158 | 2,676,562 | 2,739,870 | 2,834,670 | - | - |
| Reference price 2 | 2.100 | 2.430 | 2.740 | 2.690 | 2.370 | 2.270 | 2.270 | 2.270 |
| Announcement Date | 4/22/19 | 4/27/20 | 4/29/21 | 4/26/22 | 4/27/23 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 376.1 | 405.9 | 447.2 | 610.1 | 684.9 | 696.2 | 715.7 | 734.2 |
| EBITDA 1 | 254.3 | 282 | 311.2 | 408.6 | 450.6 | 470.8 | 485.6 | 499.9 |
| EBIT 1 | 254.3 | 282 | 311.1 | 408.6 | 450.6 | 471.4 | 490 | 507.7 |
| Operating Margin | 67.61% | 69.48% | 69.57% | 66.97% | 65.79% | 67.7% | 68.47% | 69.15% |
| Earnings before Tax (EBT) 1 | 271.1 | 367.2 | 197.9 | 469.4 | 315.1 | 396.6 | 399.7 | 414.5 |
| Net income 1 | 271.1 | 367.1 | 164.5 | 430.8 | 281.7 | 368.1 | 416 | 442.8 |
| Net margin | 72.09% | 90.46% | 36.78% | 70.62% | 41.13% | 52.87% | 58.12% | 60.31% |
| EPS 2 | 0.1425 | 0.1737 | 0.0711 | 0.1687 | 0.1043 | 0.1326 | 0.1434 | 0.1507 |
| Free Cash Flow 1 | 244.8 | 286.8 | 236.7 | 497 | 293.1 | 477.3 | 469.5 | 505.8 |
| FCF margin | 65.09% | 70.68% | 52.93% | 81.47% | 42.79% | 68.55% | 65.59% | 68.89% |
| FCF Conversion (EBITDA) | 96.25% | 101.71% | 76.07% | 121.63% | 65.04% | 101.38% | 96.68% | 101.18% |
| FCF Conversion (Net income) | 90.29% | 78.13% | 143.9% | 115.38% | 104.06% | 129.66% | 112.86% | 114.22% |
| Dividend per Share 2 | 0.1216 | 0.1224 | 0.1255 | 0.1380 | 0.1357 | 0.1323 | 0.1347 | 0.1385 |
| Announcement Date | 4/22/19 | 4/27/20 | 4/29/21 | 4/26/22 | 4/27/23 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: Marzo | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | 2025 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 155.6 | 162.4 | 164.1 | 167.8 | 175.5 | 170.4 | 171.1 | 170.6 | 174.1 | 173.9 | 196 | 183.3 | 183.3 | 183.3 | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 105.6 | 107.1 | 103.6 | 113.2 | 114 | 112.5 | 110.7 | 114.8 | 111.1 | 113.1 | 134.6 | 123.1 | 123.1 | 123.4 | 125.7 |
| Operating Margin | 67.88% | 66% | 63.14% | 67.49% | 64.98% | 66.02% | 64.72% | 67.3% | 63.79% | 65.02% | 68.68% | 67.15% | 67.15% | 67.32% | - |
| Earnings before Tax (EBT) | 101.1 | 101.7 | 180.5 | 106.5 | 99.11 | - | - | - | - | - | - | - | - | - | - |
| Net income 1 | 95.46 | 96.47 | 155.6 | - | - | 93.03 | -4.172 | 91.68 | 91.05 | 92.93 | 103.3 | 97.4 | 97.4 | 98.04 | 161.7 |
| Net margin | 61.36% | 59.42% | 94.8% | - | - | 54.58% | -2.44% | 53.73% | 52.29% | 53.44% | 52.7% | 53.13% | 53.13% | 53.48% | - |
| EPS 2 | 0.0368 | 0.0372 | 0.0592 | - | - | 0.0352 | -0.001500 | 0.0332 | 0.0324 | 0.0328 | 0.0365 | 0.0345 | 0.0345 | 0.0347 | 0.0564 |
| Dividend per Share 2 | 0.0347 | 0.0349 | 0.0349 | 0.0349 | 0.0336 | - | 0.0333 | 0.0339 | 0.0332 | 0.0336 | 0.0345 | 0.0344 | 0.0344 | 0.0347 | 0.0346 |
| Announcement Date | 10/26/21 | 1/25/22 | 4/26/22 | 7/25/22 | 10/26/22 | 1/26/23 | 4/27/23 | 7/26/23 | 10/25/23 | 1/25/24 | - | - | - | - | - |
1SGD in Million2SGD
Estimates
Balance Sheet Analysis
| Fiscal Period: Marzo | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 969 | 1,005 | 2,211 | 2,790 | 2,734 | 3,066 | 3,124 | 3,195 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.811 x | 3.565 x | 7.104 x | 6.828 x | 6.068 x | 6.512 x | 6.433 x | 6.392 x |
| Free Cash Flow 1 | 245 | 287 | 237 | 497 | 293 | 477 | 469 | 506 |
| ROE (net income / shareholders' equity) | 9.41% | 11.1% | 4.41% | 9.39% | 7.11% | 7.02% | 7.13% | 7.33% |
| ROA (Net income/ Total Assets) | 6.25% | 7.63% | 2.84% | 5.79% | 4.45% | 4.34% | 4.71% | 4.8% |
| Assets 1 | 4,337 | 4,811 | 5,790 | 7,436 | 6,327 | 8,485 | 8,829 | 9,224 |
| Book Value Per Share 2 | 1.510 | 1.620 | 1.660 | 1.860 | 1.850 | 1.890 | 1.890 | 1.900 |
| Cash Flow per Share 2 | 0.1200 | 0.1300 | 0.1000 | 0.1900 | 0.1700 | 0.1600 | 0.1500 | 0.1500 |
| Capex 1 | 132 | 50.1 | 303 | 1,903 | 155 | 13.8 | 16.6 | 17.3 |
| Capex / Sales | 35.01% | 12.36% | 67.74% | 311.91% | 22.63% | 1.98% | 2.32% | 2.35% |
| Announcement Date | 4/22/19 | 4/27/20 | 4/29/21 | 4/26/22 | 4/27/23 | - | - | - |
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
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
2.27
SGD
Average target price
2.575
SGD
Spread / Average Target
+13.42%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -9.56% | 4.72B | |
| -6.46% | 46.25B | |
| -8.31% | 20.33B | |
| -3.56% | 13.07B | |
| +16.05% | 11.53B | |
| -4.85% | 9.68B | |
| -0.83% | 8.48B | |
| -14.19% | 8.38B | |
| +1.38% | 7.63B | |
| -18.42% | 5.53B |
- Stock Market
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- ME8U Stock
- Financials Mapletree Industrial Trust
