Calculating The Intrinsic Value Of Hongkong Land Holdings Limited (SGX:H78)
Feb 17
Have your own idea? Try our Stock Screener
Singaporean (SGX) Real Estate Sector Analysis
UpdatedFeb 21, 2025
DataAggregated Company Financials
Companies90
- 7D-0.7%
- 3M-3.2%
- 1Y-4.4%
- YTD-3.0%
The Real Estate is pretty flat in the last 7 days, but Hongkong Land Holdings has stood out, gaining 5.3%. As for the longer term, the industry has declined 3.1% in the last year. As for the next few years, earnings are expected to grow by 15% per annum.
Sector Valuation and Performance
Has the Singaporean Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 21 Feb 2025 | S$140.6b | S$47.8b | S$5.0b | 15.5x | 28.1x | 2.9x |
| Sun, 19 Jan 2025 | S$143.5b | S$47.9b | S$3.9b | 17x | 36.4x | 3x |
| Tue, 17 Dec 2024 | S$142.8b | S$47.9b | S$3.9b | 16.2x | 36.5x | 3x |
| Thu, 14 Nov 2024 | S$145.0b | S$47.2b | S$3.7b | 14.3x | 39.2x | 3.1x |
| Sat, 12 Oct 2024 | S$152.2b | S$47.2b | S$3.6b | 14.3x | 42.4x | 3.2x |
| Mon, 09 Sep 2024 | S$147.7b | S$47.1b | S$3.5b | 12.9x | 41.6x | 3.1x |
| Wed, 07 Aug 2024 | S$136.1b | S$47.6b | S$4.0b | 13.5x | 34.3x | 2.9x |
| Fri, 05 Jul 2024 | S$136.5b | S$47.1b | S$4.2b | 13.8x | 32.1x | 2.9x |
| Sun, 02 Jun 2024 | S$138.4b | S$47.8b | S$4.0b | 14x | 34.6x | 2.9x |
| Tue, 30 Apr 2024 | S$138.9b | S$48.0b | S$4.5b | 15.3x | 31x | 2.9x |
| Thu, 28 Mar 2024 | S$141.5b | S$47.8b | S$4.5b | 15x | 31.4x | 3x |
| Sat, 24 Feb 2024 | S$144.3b | S$45.8b | S$5.2b | 16.7x | 27.5x | 3.1x |
| Mon, 22 Jan 2024 | S$153.5b | S$47.8b | S$6.7b | 14.9x | 23x | 3.2x |
| Wed, 20 Dec 2023 | S$155.4b | S$47.8b | S$6.7b | 15.3x | 23.3x | 3.3x |
| Fri, 17 Nov 2023 | S$152.7b | S$47.8b | S$6.7b | 14.5x | 22.8x | 3.2x |
| Sun, 15 Oct 2023 | S$151.2b | S$47.7b | S$8.2b | 14.2x | 18.3x | 3.2x |
| Tue, 12 Sep 2023 | S$156.5b | S$47.5b | S$8.2b | 15.3x | 19x | 3.3x |
| Thu, 10 Aug 2023 | S$160.9b | S$45.7b | S$10.9b | 15x | 14.8x | 3.5x |
| Sat, 08 Jul 2023 | S$159.1b | S$45.4b | S$12.4b | 12.4x | 12.9x | 3.5x |
| Mon, 05 Jun 2023 | S$162.7b | S$45.5b | S$12.4b | 12.6x | 13.2x | 3.6x |
| Wed, 03 May 2023 | S$169.5b | S$45.3b | S$12.5b | 13.1x | 13.6x | 3.7x |
| Fri, 31 Mar 2023 | S$167.0b | S$45.2b | S$12.9b | 12.7x | 12.9x | 3.7x |
| Sun, 26 Feb 2023 | S$171.3b | S$45.3b | S$14.0b | 12x | 12.2x | 3.8x |
| Tue, 24 Jan 2023 | S$173.2b | S$44.2b | S$15.4b | 10x | 11.3x | 3.9x |
| Thu, 22 Dec 2022 | S$166.9b | S$44.2b | S$15.5b | 10.2x | 10.8x | 3.8x |
| Sat, 19 Nov 2022 | S$167.4b | S$44.1b | S$15.5b | 10.5x | 10.8x | 3.8x |
| Mon, 17 Oct 2022 | S$159.8b | S$44.2b | S$15.3b | 9.6x | 10.5x | 3.6x |
| Wed, 14 Sep 2022 | S$182.7b | S$44.3b | S$15.4b | 11.4x | 11.9x | 4.1x |
| Fri, 12 Aug 2022 | S$186.7b | S$43.9b | S$13.9b | 12.5x | 13.4x | 4.3x |
| Sun, 10 Jul 2022 | S$179.4b | S$43.5b | S$12.2b | 12.9x | 14.7x | 4.1x |
| Tue, 07 Jun 2022 | S$182.2b | S$43.4b | S$12.2b | 13.6x | 14.9x | 4.2x |
| Thu, 05 May 2022 | S$186.5b | S$43.7b | S$12.1b | 13.1x | 15.4x | 4.3x |
| Sat, 02 Apr 2022 | S$187.7b | S$43.8b | S$11.8b | 13.5x | 15.9x | 4.3x |
| Mon, 28 Feb 2022 | S$179.9b | S$42.3b | S$9.9b | 14.7x | 18.1x | 4.3x |
Price to Earnings Ratio
18.1x
Current Industry PE
- Investors are optimistic on the Singaporean Real Estate industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 29.2x which is higher than its 3-year average PE of 22.2x.
- The 3-year average PS ratio of 3.5x is higher than the industry's current PS ratio of 3.0x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 21% per year over the last three years.
- Meanwhile revenues for these companies have grown 4.1% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Singaporean Real Estate sector?
| SG Market | 0.77% | |
| Real Estate | -0.67% | |
| Residential REITs | 0% | 0 |
| Real Estate | -0.063% | |
| Retail REITs | -0.81% | |
| REITS | -0.88% | |
| Industrial REITs | -0.92% | |
| Specialized REITs | -0.95% | |
| Hotel and Resort REITs | -1.68% | |
| Office REITs | -1.75% | |
| Health Care REITs | -3.11% | |
Industry PE
- Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio of 32.0x.
- Analysts are expecting annual earnings growth of 26.8%, which is higher than its past year's earnings decline of 1.5% per year.
Forecasted Growth
- Analysts are most optimistic on the Office REITs industry, expecting annual earnings growth of 32% over the next 5 years.
- This is better than its past earnings decline of 41% per year.
- In contrast, the Specialized REITs industry is expected to see its earnings decline by 13% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| H78 Hongkong Land Holdings | US$4.52 | 3.9% +US$375.1m | 38.2% | PS4.6x | |
| AJBU Keppel DC REIT | S$2.14 | 1.9% +S$88.4m | 21.6% | PB1.4x | |
| J91U ESR-REIT | S$0.24 | 2.1% +S$39.6m | -23.4% | PB0.8x | |
| DCRU Digital Core REIT | US$0.57 | 1.8% +US$13.0m | -5.8% | PB0.7x | |
| CRPU Sasseur Real Estate Investment Trust | S$0.69 | 1.5% +S$12.5m | 0.7% | PB0.8x |