Financials AIMS APAC REIT

Equities

O5RU

SG2D63974620

Commercial REITs

Market Closed - Singapore S.E. 02:34:04 18/06/2024 pm IST 5-day change 1st Jan Change
1.26 SGD -0.79% Intraday chart for AIMS APAC REIT -1.56% -3.08%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 981.1 734.9 911.6 989.7 950.9 1,022 - -
Enterprise Value (EV) 1 1,466 1,352 1,492 1,823 1,729 1,038 1,733 1,734
P/E ratio 19.5 x 8.48 x 19.2 x 11 x 10.1 x 23.9 x 11.3 x 11.2 x
Yield 7.22% 9.13% 6.94% 6.81% 7.53% 7.62% 7.4% 7.54%
Capitalization / Revenue 8.31 x 6.18 x 7.43 x 6.95 x 5.68 x 5.85 x 5.73 x 5.63 x
EV / Revenue 12.4 x 11.4 x 12.2 x 12.8 x 10.3 x 5.85 x 9.72 x 9.56 x
EV / EBITDA - 17.2 x 19.7 x 20.6 x 17.2 x 9.09 x 14.4 x 14.7 x
EV / FCF - - - - - - 2,23,08,062 x 1,89,87,620 x
FCF Yield - - - - - - 0% 0%
Price to Book - 0.77 x 0.95 x 0.99 x 0.96 x 0.93 x 0.97 x 0.98 x
Nbr of stocks (in thousands) 6,90,913 7,06,663 7,06,663 7,12,017 7,20,344 8,10,955 - -
Reference price 2 1.420 1.040 1.290 1.390 1.320 1.270 1.270 1.270
Announcement Date 23/04/19 11/05/20 04/05/21 27/04/22 04/05/23 06/05/24 - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 118.1 118.9 122.6 142.4 167.4 177.3 178.3 181.3
EBITDA 1 - 78.68 75.54 88.58 100.3 114.2 120.5 118
EBIT 1 68.95 78.68 75.54 88.58 100.3 114.2 112 114
Operating Margin 58.39% 66.19% 61.6% 62.21% 59.9% 64.41% 62.8% 62.87%
Earnings before Tax (EBT) 1 52.77 93.08 60.07 112.3 112.1 56.39 98.87 103.3
Net income 1 50.05 85.52 47.57 89.24 93.36 42.35 90.5 93.45
Net margin 42.39% 71.95% 38.79% 62.67% 55.78% 23.89% 50.75% 51.53%
EPS 2 0.0730 0.1227 0.0673 0.1259 0.1301 0.0535 0.1125 0.1136
Free Cash Flow - - - - - - 77.7 91.3
FCF margin - - - - - - 43.57% 50.35%
FCF Conversion (EBITDA) - - - - - - 64.48% 77.37%
FCF Conversion (Net income) - - - - - - 85.86% 97.7%
Dividend per Share 2 0.1025 0.0950 0.0895 0.0946 0.0994 0.0968 0.0940 0.0958
Announcement Date 23/04/19 11/05/20 04/05/21 27/04/22 04/05/23 06/05/24 - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2024 S1
Net sales 1 86.83
EBITDA -
EBIT -
Operating Margin -
Earnings before Tax (EBT) -
Net income 1 30.99
Net margin 35.69%
EPS 2 0.0401
Dividend per Share -
Announcement Date 02/11/23
1SGD in Million2SGD
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 485 617 580 833 778 746 712 712
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - 7.846 x 7.682 x 9.405 x 7.757 x 6.906 x 5.905 x 6.032 x
Free Cash Flow - - - - - - 77.7 91.3
ROE (net income / shareholders' equity) 5.36% 9.08% 5.43% 9.09% 8.06% 8.23% 8.4% 8.87%
ROA (Net income/ Total Assets) 3.38% 5.46% 2.98% 4.2% 2.22% 3.21% 3.3% 3.48%
Assets 1 1,481 1,567 1,598 2,125 4,215 2,628 2,742 2,683
Book Value Per Share 2 - 1.350 1.360 1.400 1.370 1.370 1.300 1.300
Cash Flow per Share 2 0.1100 0.1200 0.1100 0.1300 0.1500 0.1000 0.1000 0.0900
Capex 1 14.3 28.6 139 493 3.05 18.8 19.1 17.2
Capex / Sales 12.14% 24.05% 113.51% 345.99% 1.82% 10.85% 10.71% 9.46%
Announcement Date 23/04/19 11/05/20 04/05/21 27/04/22 04/05/23 06/05/24 - -
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
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
1.27 SGD
Average target price
1.467 SGD
Spread / Average Target
+15.49%
Consensus

Annual profits - Rate of surprise

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