MAPLETREE LOGISTICS TRUST |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 1.36 SGD | +0.74% |
|
+1.49% | -21.84% |
| Apr. 30 | Mapletree Logistics Trust's DPU Slips in Fiscal Q4 | MT |
| Apr. 29 | Transcript : Mapletree Logistics Trust, Q4 2024 Earnings Call, Apr 29, 2024 |
Valuation
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 6,004 | 8,267 | 8,848 | 8,235 | 7,291 | 6,742 | - | - |
| Enterprise Value (EV) 1 | 9,398 | 12,212 | 13,467 | 12,810 | 7,291 | 12,075 | 12,039 | 12,202 |
| P/E ratio | 15.5 x | 17.3 x | 10.7 x | 15.1 x | 23.9 x | 19.9 x | 20.2 x | 19.6 x |
| Yield | 5.15% | 4.31% | 4.75% | 5.27% | - | 6.37% | 6.39% | 6.41% |
| Capitalization / Revenue | 12.2 x | 14.7 x | 13 x | 11.3 x | 9.93 x | 8.74 x | 8.46 x | 8.33 x |
| EV / Revenue | 19.2 x | 21.8 x | 19.8 x | 17.5 x | 9.93 x | 15.7 x | 15.1 x | 15.1 x |
| EV / EBITDA | 24.9 x | 27.6 x | 26.4 x | 24.6 x | 14.1 x | 21.3 x | 20.2 x | 19.4 x |
| EV / FCF | 25.5 x | -241 x | -35.8 x | 36.6 x | - | 20.1 x | 23.8 x | 19.9 x |
| FCF Yield | 3.93% | -0.42% | -2.79% | 2.73% | - | 4.97% | 4.2% | 5.02% |
| Price to Book | 1.31 x | 1.45 x | 1.25 x | 1.19 x | - | 0.99 x | 0.94 x | 1 x |
| Nbr of stocks (in thousands) | 3,800,274 | 4,283,206 | 4,782,707 | 4,816,004 | 4,993,959 | 4,993,959 | - | - |
| Reference price 2 | 1.580 | 1.930 | 1.850 | 1.710 | 1.460 | 1.350 | 1.350 | 1.350 |
| Announcement Date | 4/23/20 | 4/21/21 | 4/28/22 | 5/1/23 | 4/29/24 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 490.8 | 561.1 | 678.6 | 730.6 | 733.9 | 771.1 | 797.3 | 809.2 |
| EBITDA 1 | 377.5 | 442.3 | 511 | 521.6 | 518.9 | 567.7 | 594.5 | 630.4 |
| EBIT 1 | 377.5 | 439.3 | 507.4 | 517.5 | 513.9 | 567.1 | 594.2 | 608.3 |
| Operating Margin | 76.91% | 78.28% | 74.77% | 70.83% | 70.03% | 73.55% | 74.52% | 75.17% |
| Earnings before Tax (EBT) 1 | 446.5 | 565.7 | 993.7 | 657.4 | 393.1 | 400.9 | 403.5 | 404.4 |
| Net income 1 | 377.2 | 445.7 | 762.9 | 545.1 | 303.1 | 360.1 | 362.3 | 375.5 |
| Net margin | 76.85% | 79.43% | 112.44% | 74.6% | 41.31% | 46.7% | 45.44% | 46.41% |
| EPS 2 | 0.1019 | 0.1118 | 0.1723 | 0.1136 | 0.0611 | 0.0677 | 0.0670 | 0.0690 |
| Free Cash Flow 1 | 369.3 | -50.77 | -376 | 350.1 | - | 600 | 505.7 | 613 |
| FCF margin | 75.24% | -9.05% | -55.41% | 47.92% | - | 77.81% | 63.42% | 75.75% |
| FCF Conversion (EBITDA) | 97.82% | - | - | 67.11% | - | 105.69% | 85.05% | 97.24% |
| FCF Conversion (Net income) | 97.9% | - | - | 64.23% | - | 166.62% | 139.56% | 163.24% |
| Dividend per Share 2 | 0.0814 | 0.0833 | 0.0879 | 0.0901 | - | 0.0860 | 0.0863 | 0.0865 |
| Announcement Date | 4/23/20 | 4/21/21 | 4/28/22 | 5/1/23 | 4/29/24 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 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 | 166.9 | 182.9 | 187.7 | 183.9 | 180.2 | 178.9 | 182.2 | 186.7 | 184 | 181 | 193.5 | 193.5 | 193.5 | 193.5 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 122.4 | 132.9 | 131.8 | 135.1 | 122.6 | 133.2 | 138.1 | 120.9 | 132.2 | 122.8 | 143.4 | 143.4 | 143.4 | 143.4 |
| Operating Margin | 73.34% | 72.66% | 70.22% | 73.46% | 68.01% | 74.46% | 75.79% | 64.75% | 71.82% | 67.87% | 74.11% | 74.11% | 74.11% | 74.11% |
| Earnings before Tax (EBT) | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net income | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | 0.0227 | 0.0225 | - | - | 0.0227 | 0.0227 | - | - | - | - | - | - |
| Announcement Date | 1/28/22 | 4/28/22 | 7/21/22 | 10/25/22 | 1/19/23 | 5/1/23 | 7/25/23 | 10/24/23 | 1/24/24 | 4/29/24 | - | - | - | - |
1SGD in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,394 | 3,945 | 4,619 | 4,575 | - | 5,333 | 5,297 | 5,460 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 8.991 x | 8.921 x | 9.04 x | 8.77 x | - | 9.394 x | 8.909 x | 8.662 x |
| Free Cash Flow 1 | 369 | -50.8 | -376 | 350 | - | 600 | 506 | 613 |
| ROE (net income / shareholders' equity) | 9.23% | 8.02% | 11.1% | 7.19% | - | 4.74% | 4.98% | 5.03% |
| ROA (Net income/ Total Assets) | 5.21% | 4.4% | 6.13% | 4.02% | - | 2.42% | 2.76% | 3% |
| Assets 1 | 7,235 | 10,128 | 12,447 | 13,556 | - | 14,893 | 13,143 | 12,534 |
| Book Value Per Share 2 | 1.210 | 1.330 | 1.480 | 1.440 | - | 1.370 | 1.430 | 1.350 |
| Cash Flow per Share 2 | 0.1000 | 0.1100 | 0.1100 | 0.1300 | - | 0.1100 | 0.1100 | 0.1200 |
| Capex 1 | 653 | 497 | 870 | 43.5 | - | 60 | 46.4 | 18.5 |
| Capex / Sales | 132.98% | 88.49% | 128.2% | 5.95% | - | 7.79% | 5.82% | 2.29% |
| Announcement Date | 4/23/20 | 4/21/21 | 4/28/22 | 5/1/23 | 4/29/24 | - | - | - |
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
1.35
SGD
Average target price
1.692
SGD
Spread / Average Target
+25.36%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -21.84% | 4.94B | |
| -23.57% | 94.32B | |
| +25.57% | 38.87B | |
| -24.46% | 9.21B | |
| -14.54% | 7.54B | |
| -11.33% | 6.33B | |
| -26.16% | 6.35B | |
| -12.63% | 6.09B | |
| -10.60% | 5.85B | |
| -13.39% | 5.24B |
- Stock Market
- Equities
- M44U Stock
- Financials Mapletree Logistics Trust
