Digital Core REIT Valuation

Is DCRU undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of DCRU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DCRU ($0.61) is trading below our estimate of fair value ($1.16)

Significantly Below Fair Value: DCRU is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for DCRU?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for DCRU. This is calculated by dividing DCRU's market cap by their current preferred multiple.
What is DCRU's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	US$785.36m

DCRU key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	20x
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does DCRU's PS Ratio compare to its peers?

The above table shows the PS ratio for DCRU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	7.4x
AJBU Keppel DC REIT	13.4x	5.6%	S$3.9b
O5RU AIMS APAC REIT	5.8x	2.4%	S$1.0b
J85 CDL Hospitality Trusts	4.4x	5.6%	S$1.2b
P40U Starhill Global Real Estate Investment Trust	6.1x	2.4%	S$1.2b
DCRU Digital Core REIT	11.3x	13.7%	US$785.4m

Price-To-Sales vs Peers: DCRU is expensive based on its Price-To-Sales Ratio (11.3x) compared to the peer average (7.4x).

Price to Earnings Ratio vs Industry

How does DCRU's PE Ratio compare vs other companies in the Global Specialized REITs Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	11.3%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	11.3%
	n/a	n/a	n/a

No more companies

Price-To-Sales vs Industry: DCRU is expensive based on its Price-To-Sales Ratio (11.3x) compared to the Global Specialized REITs industry average (8.5x).

Price to Sales Ratio vs Fair Ratio

What is DCRU's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

DCRU PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	11.3x
Fair PS Ratio	3x

Price-To-Sales vs Fair Ratio: DCRU is expensive based on its Price-To-Sales Ratio (11.3x) compared to the estimated Fair Price-To-Sales Ratio (3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst DCRU forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	US$0.60	US$0.76 +25.6%	12.8%	US$0.95	US$0.70	n/a	5
Oct ’25	US$0.61	US$0.75 +22.3%	9.3%	US$0.88	US$0.70	n/a	5
Sep ’25	US$0.61	US$0.73 +20.0%	5.9%	US$0.81	US$0.70	n/a	5
Aug ’25	US$0.57	US$0.73 +27.3%	5.9%	US$0.81	US$0.70	n/a	5
Jul ’25	US$0.58	US$0.74 +27.6%	7.9%	US$0.85	US$0.70	n/a	5
Jun ’25	US$0.58	US$0.71 +21.8%	8.2%	US$0.79	US$0.60	n/a	6
May ’25	US$0.61	US$0.71 +15.8%	8.2%	US$0.79	US$0.60	n/a	6
Apr ’25	US$0.59	US$0.71 +18.8%	8.2%	US$0.79	US$0.60	n/a	6
Mar ’25	US$0.59	US$0.71 +18.8%	8.2%	US$0.79	US$0.60	n/a	6
Feb ’25	US$0.64	US$0.72 +13.0%	12.9%	US$0.90	US$0.60	n/a	6
Jan ’25	US$0.65	US$0.69 +6.2%	14.9%	US$0.90	US$0.60	n/a	6
Dec ’24	US$0.60	US$0.69 +13.2%	14.9%	US$0.90	US$0.60	n/a	6
Nov ’24	US$0.50	US$0.68 +36.7%	15.1%	US$0.90	US$0.59	US$0.60	6
Oct ’24	US$0.53	US$0.69 +29.6%	15.7%	US$0.90	US$0.57	US$0.61	6
Sep ’24	US$0.56	US$0.67 +20.4%	16.2%	US$0.90	US$0.57	US$0.61	6
Aug ’24	US$0.51	US$0.67 +32.3%	16.2%	US$0.90	US$0.57	US$0.57	6
Jul ’24	US$0.47	US$0.69 +44.2%	15.5%	US$0.90	US$0.57	US$0.58	6
Jun ’24	US$0.41	US$0.73 +77.6%	16.1%	US$0.90	US$0.57	US$0.58	6
May ’24	US$0.43	US$0.73 +67.4%	16.1%	US$0.90	US$0.57	US$0.61	6
Apr ’24	US$0.45	US$0.77 +73.4%	11.9%	US$0.90	US$0.60	US$0.59	6
Mar ’24	US$0.59	US$0.82 +37.8%	11.3%	US$0.97	US$0.70	US$0.59	6
Feb ’24	US$0.66	US$0.81 +22.9%	14.5%	US$0.98	US$0.63	US$0.64	6
Jan ’24	US$0.55	US$0.84 +52.7%	11.3%	US$0.98	US$0.70	US$0.65	5
Dec ’23	US$0.61	US$0.89 +46.4%	8.2%	US$0.98	US$0.80	US$0.60	3
Nov ’23	US$0.55	US$0.89 +62.4%	8.2%	US$0.98	US$0.80	US$0.50	3

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.