FRASERS CENTREPOINT TRUST |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.11 SGD | -1.40% |
|
-2.31% | -6.64% |
| Apr. 25 | Frasers Centrepoint Trust's DPU Falls in Fiscal H1 | MT |
| Apr. 25 | Frasers Centrepoint Trust Announces Distribution for 5 February 2024 to 31 March 2024, Payable on 30 May 2024 | CI |
Valuation
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 3,059 | 2,675 | 3,857 | 3,693 | 3,742 | 3,819 | - | - |
| Enterprise Value (EV) 1 | 4,086 | 3,907 | 5,624 | 5,465 | 5,905 | 5,654 | 5,677 | 5,688 |
| P/E ratio | 13.2 x | 17.6 x | 22.5 x | 17.8 x | 17.7 x | 19.2 x | 18.2 x | 17 x |
| Yield | 4.41% | 3.78% | 5.32% | 5.63% | 5.55% | 5.63% | 5.82% | 6% |
| Capitalization / Revenue | 15.6 x | 16.3 x | 11.3 x | 10.3 x | 10.1 x | 10.7 x | 10.4 x | 10.2 x |
| EV / Revenue | 20.8 x | 23.8 x | 16.5 x | 15.3 x | 16 x | 15.8 x | 15.4 x | 15.2 x |
| EV / EBITDA | 33.9 x | 43.3 x | 26.7 x | 24.6 x | 26.1 x | 24.2 x | 23.5 x | 22.8 x |
| EV / FCF | 32.5 x | 58.3 x | 29.2 x | 24 x | 25.1 x | 21.9 x | 21.3 x | 18.7 x |
| FCF Yield | 3.08% | 1.72% | 3.42% | 4.17% | 3.98% | 4.56% | 4.69% | 5.35% |
| Price to Book | 1.24 x | 1.05 x | 0.98 x | 0.93 x | 0.94 x | 0.92 x | 0.92 x | 0.91 x |
| Nbr of stocks (in thousands) | 1,116,284 | 1,119,447 | 1,699,269 | 1,702,058 | 1,708,459 | 1,809,938 | - | - |
| Reference price 2 | 2.740 | 2.390 | 2.270 | 2.170 | 2.190 | 2.110 | 2.110 | 2.110 |
| Announcement Date | 10/23/19 | 11/2/20 | 10/26/21 | 10/25/22 | 10/24/23 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 196.4 | 164.4 | 341.1 | 356.9 | 369.7 | 357.6 | 368.2 | 374.6 |
| EBITDA 1 | 120.7 | 90.26 | 210.5 | 222.4 | 225.9 | 233.6 | 241.2 | 249.2 |
| EBIT 1 | 120.6 | 90.2 | 210.5 | 222.4 | 225.9 | 223.1 | 232.2 | 237.3 |
| Operating Margin | 61.41% | 54.87% | 61.69% | 62.3% | 61.09% | 62.38% | 63.07% | 63.35% |
| Earnings before Tax (EBT) 1 | 206 | 151.8 | 172.2 | 201.2 | 212.2 | 188.5 | 210.1 | 217.8 |
| Net income 1 | 205.9 | 151.7 | 168.6 | 207.3 | 212 | 190.9 | 217.1 | 234.7 |
| Net margin | 104.87% | 92.27% | 49.43% | 58.07% | 57.33% | 53.38% | 58.95% | 62.64% |
| EPS 2 | 0.2074 | 0.1355 | 0.1008 | 0.1217 | 0.1239 | 0.1100 | 0.1161 | 0.1242 |
| Free Cash Flow 1 | 125.7 | 67.02 | 192.6 | 227.7 | 234.8 | 257.7 | 266.3 | 304.5 |
| FCF margin | 64.02% | 40.77% | 56.46% | 63.79% | 63.51% | 72.06% | 72.33% | 81.29% |
| FCF Conversion (EBITDA) | 104.16% | 74.26% | 91.5% | 102.37% | 103.94% | 110.28% | 110.4% | 122.17% |
| FCF Conversion (Net income) | 61.05% | 44.19% | 114.22% | 109.84% | 110.78% | 134.99% | 122.7% | 129.76% |
| Dividend per Share 2 | 0.1207 | 0.0904 | 0.1208 | 0.1223 | 0.1215 | 0.1189 | 0.1228 | 0.1266 |
| Announcement Date | 10/23/19 | 11/2/20 | 10/26/21 | 10/25/22 | 10/24/23 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: September | 2021 S1 | 2021 S2 | 2022 S1 | 2022 S2 | 2023 S1 | 2023 S2 | 2024 S2 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 173.6 | 167.5 | 176.2 | 180.7 | 187.6 | 184.1 | 183.6 |
| EBITDA | - | - | - | - | - | - | - |
| EBIT 1 | 111.8 | 102.5 | 120.5 | 110.1 | 118 | 109.8 | 121.2 |
| Operating Margin | 64.39% | 61.18% | 68.38% | 60.91% | 62.89% | 59.66% | 66.04% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - |
| EPS | - | - | - | - | - | - | - |
| Dividend per Share 2 | - | 0.0609 | 0.0614 | 0.0609 | - | 0.0602 | 0.0602 |
| Announcement Date | 4/22/21 | 10/26/21 | 4/26/22 | 10/25/22 | 4/25/23 | 10/24/23 | - |
1SGD in Million2SGD
Estimates
Balance Sheet Analysis
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,028 | 1,231 | 1,767 | 1,772 | 2,163 | 1,836 | 1,858 | 1,869 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 8.513 x | 13.64 x | 8.392 x | 7.967 x | 9.576 x | 7.856 x | 7.703 x | 7.498 x |
| Free Cash Flow 1 | 126 | 67 | 193 | 228 | 235 | 258 | 266 | 305 |
| ROE (net income / shareholders' equity) | 4.39% | 6.06% | 5.22% | 5.21% | 5.19% | 4.52% | 4.92% | 5.04% |
| ROA (Net income/ Total Assets) | 3% | 4.05% | 3.45% | 3.47% | 3.34% | 2.9% | 3.18% | 3.26% |
| Assets 1 | 6,871 | 3,747 | 4,888 | 5,981 | 6,340 | 6,579 | 6,825 | 7,188 |
| Book Value Per Share 2 | 2.210 | 2.270 | 2.310 | 2.330 | 2.330 | 2.290 | 2.300 | 2.310 |
| Cash Flow per Share 2 | 0.1300 | 0.0700 | 0.1200 | 0.1400 | 0.1400 | 0.1200 | 0.1200 | 0.1500 |
| Capex 1 | 5.02 | 11.1 | 5.83 | 5.9 | 8.33 | 21.1 | 5.43 | 5.99 |
| Capex / Sales | 2.56% | 6.76% | 1.71% | 1.65% | 2.25% | 5.91% | 1.48% | 1.6% |
| Announcement Date | 10/23/19 | 11/2/20 | 10/26/21 | 10/25/22 | 10/24/23 | - | - | - |
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
16
Last Close Price
2.11
SGD
Average target price
2.431
SGD
Spread / Average Target
+15.23%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -6.64% | 2.83B | |
| +0.20% | 46.56B | |
| -10.37% | 12.88B | |
| -22.01% | 11.18B | |
| -11.94% | 10.88B | |
| -3.02% | 7.66B | |
| -4.64% | 6.69B | |
| -6.62% | 5.9B | |
| -6.62% | 5.73B | |
| -7.83% | 4.63B |
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- Financials Frasers Centrepoint Trust
