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 6,297 - -
Change - -6.92% -11.47% -8.97% -11.45% 7.14% - -
Enterprise Value (EV) 1 13,467 12,810 12,296 11,920 11,065 11,449 11,661 11,615
Change - -4.88% -4.01% -3.06% -7.18% 3.48% 1.85% -0.39%
P/E 10.7x 15.1x 23.9x 35.9x 23.2x 21x 20.7x 21.5x
PBR 1.25x 1.19x 1.06x 1x 0.91x 0.96x 0.97x 0.99x
PEG - -0.4x -0.5x -0.9x 0.6x 1.2x 14.58x -6.13x
Capitalization / Revenue 13x 11.3x 9.93x 9.13x 8.3x 8.75x 8.54x 8.4x
EV / Revenue 19.8x 17.5x 16.8x 16.4x 15.6x 15.9x 15.8x 15.5x
EV / EBITDA 26.4x 24.6x 23.7x 22.6x 21.2x 22.2x 21.8x 21.5x
EV / EBIT 26.5x 24.8x 23.9x 22.8x 21.5x 22x 21.8x 21.5x
EV / FCF -35.8x 36.6x 21.4x 25.3x 21.6x 22.7x 19.3x 18.9x
FCF Yield -2.79% 2.73% 4.66% 3.95% 4.62% 4.4% 5.17% 5.28%
Dividend per Share 2 0.0879 0.0901 0.09 0.0805 0.0726 0.0717 0.0742 0.0752
Rate of return 4.75% 5.27% 6.17% 6.15% 6.31% 5.83% 6.03% 6.11%
EPS 2 0.1723 0.1136 0.0611 0.0365 0.0496 0.0585 0.0593 0.0572
Distribution rate 51% 79.3% 147% 221% 146% 123% 125% 131%
Net sales 1 678.6 730.6 733.9 727 708.3 720.1 737.8 749.7
EBITDA 1 511 521.6 518.9 527.4 522.2 516.5 534.3 539.7
EBIT 1 507.4 517.5 513.9 522 515.4 520.1 534.9 541.2
Net income 1 762.9 545.1 303.1 183.5 254.5 316.6 316.3 316.4
Net Debt 1 4,619 4,575 5,005 5,283 5,187 5,152 5,363 5,318
Reference price 2 1.850 1.710 1.460 1.310 1.150 1.230 1.230 1.230
Nbr of stocks (in thousands) 47,82,707 48,16,004 49,93,959 50,66,733 51,10,907 51,19,897 - -
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.($)
21.03x15.9x22.17x5.83% 490.84Cr
43.29x19.7x24.68x2.97% 13TCr
24.68x20.01x22.87x1.01% 4.27TCr
35.11x16.42x23.23x3.05% 1.12TCr
25.41x14.25x20.83x3.04% 868.62Cr
418.78x10.81x15.29x4.65% 838.07Cr
36.86x16.8x25.59x2.96% 762.22Cr
33.69x11.92x16.3x4.02% 743.66Cr
22.18x13.39x18.68x4.67% 743.32Cr
8.65x19.56x22.1x4.99% 614.05Cr
Average 66.97x 15.88x 21.17x 3.72% 2.39TCr
Weighted average by Cap. 49.59x 18.48x 23.28x 2.88%

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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