Jardine Cycle & Carriage

Southeast Asia Urban Trends And EV Moves Will Drive Mixed Outcomes

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

09 Mar 25

Updated

03 Dec 25

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

14.6%

7D

-1.1%

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1Y

14.6%

7D

-1.1%

You can edit this narrative until Dec 4 9:06 PM. Then, changes will post as Updates.

Author's Valuation

S$28.3318.7% overvalued

AnalystConsensusTarget Fair Value

Shared on 03 Dec 25

Fair value Increased 9.96%

C07: Future Profit Margins Will Likely Fail To Offset Anticipated Revenue Contraction

Analysts have lifted their price target on Jardine Cycle & Carriage from approximately $25.77 to $28.33, citing a slightly lower discount rate, improved margin expectations, and a higher anticipated future P/E multiple, despite trimming top line growth assumptions. What's in the News Group Finance Director Hsu Hai Yeh will cease his role at Jardine Cycle & Carriage to become Chief Financial Officer of principal subsidiary PT Astra International Tbk in Indonesia, subject to Astra shareholder approval in November (company announcement) Jardine Cycle & Carriage has appointed Lee Liang Whye (Freddy Lee) as Group Finance Director, effective November 01, 2025, with overall responsibility for the group’s financial matters (company announcement) Incoming Group Finance Director Freddy Lee brings prior experience as Interim Group Finance Director at Jardine Cycle & Carriage and Group Chief of Audit and Risk Advisory at PT Astra International Tbk, alongside earlier senior finance and management roles in the region (company announcement) Valuation Changes Fair Value: Raised slightly from SGD 25.77 to SGD 28.33 per share, reflecting a modest uplift in the intrinsic valuation.

Shared on 19 Nov 25

Fair value Increased 5.02%

C07: Future Profit Margins May Struggle To Offset Weaker Revenue Assumptions

Analysts have raised their price target for Jardine Cycle & Carriage from $24.53 to $25.77. They cite a lower assumed discount rate and an improved profit margin outlook, even as revenue growth forecasts are expected to moderate.

Shared on 12 Sep 25

Fair value Increased 7.01%

The upward revision in Jardine Cycle & Carriage's consensus price target reflects improved revenue growth expectations and a higher projected P/E multiple, raising fair value from SGD22.93 to SGD24.53. Valuation Changes Summary of Valuation Changes for Jardine Cycle & Carriage The Consensus Analyst Price Target has risen from SGD22.93 to SGD24.53.

Shared on 01 Aug 25

Fair value Decreased 6.65%

The consensus price target for Jardine Cycle & Carriage has been revised downward, primarily driven by a notable shift from positive to negative revenue growth expectations, while the future P/E multiple has increased, resulting in a decreased fair value estimate from SGD24.56 to SGD23.30. What's in the News Approved a final dividend of 84 US cents per share for the year ended 31 December 2024.

Shared on 01 May 25

Fair value Increased 0.37%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 23 Apr 25

Fair value Decreased 0.20%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 17 Apr 25

Fair value Increased 5.93%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

Fair value Decreased 6.02%

Shared on 02 Apr 25

Fair value Increased 0.41%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 26 Mar 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 19 Mar 25

Fair value Increased 0.45%

AnalystConsensusTarget has increased revenue growth from 0.9% to 1.6%.

Shared on 13 Mar 25

Fair value Increased 5.43%

AnalystConsensusTarget has increased revenue growth from -1.1% to 0.9%.

AnalystConsensusTarget Fair Value

S$28.33

18.7% overvalued

Future estimation in

% p.a.

0

Decrease

Increase

Current revenue growth rate

0.03%

Industrials revenue growth rate

0.17%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

7.67%

Calculation

US$1.27b

Earnings '28

x

8.51x

PE Ratio '28

=

US$10.79b

Market Cap '28

US$10.79b

Market Cap '28

/

395.24m

No. shares '28

=

US$27.29

Share Price '28

US$27.29 Share Price '28

Discounted to 2025 @ 7.64% p.a.

=

US$21.88

Fair Value '25

US$21.88 Fair Value '25

Converted to SGD @ 1.2943 USD/SGD Exchange Rate

=

S$28.32

Fair Value '25