An Intrinsic Calculation For CapitaLand Investment Limited (SGX:9CI) Suggests It's 34% Undervalued
May 22
Singaporean (SGX) Real Estate Industry Analysis
UpdatedMay 23, 2024
DataAggregated Company Financials
Companies54
- 7D1.4%
- 3M-2.9%
- 1Y-17.5%
- YTD-7.4%
The Real Estate industry has been flat over the last week, but ProsperCap has lost 7.3%. Unfortunately though, the industry is down 17% over the past 12 months. Earnings are forecast to grow by 23% annually.
Industry Valuation and Performance
Has the Singaporean Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 23 May 2024 | S$53.0b | S$34.9b | S$1.3b | 13x | 40.5x | 1.5x |
| Sat, 20 Apr 2024 | S$50.1b | S$35.4b | S$1.5b | 14.8x | 34.2x | 1.4x |
| Mon, 18 Mar 2024 | S$52.1b | S$35.2b | S$1.5b | 14.2x | 35.7x | 1.5x |
| Wed, 14 Feb 2024 | S$54.3b | S$33.5b | S$2.2b | 13.1x | 24.2x | 1.6x |
| Fri, 12 Jan 2024 | S$57.7b | S$34.7b | S$2.2b | 16.9x | 25.8x | 1.7x |
| Sun, 10 Dec 2023 | S$57.1b | S$34.8b | S$2.2b | 16.6x | 25.4x | 1.6x |
| Tue, 07 Nov 2023 | S$58.0b | S$34.7b | S$3.1b | 16.5x | 19x | 1.7x |
| Thu, 05 Oct 2023 | S$59.3b | S$34.8b | S$3.1b | 16.6x | 19.4x | 1.7x |
| Sat, 02 Sep 2023 | S$59.9b | S$34.6b | S$3.0b | 16.1x | 19.9x | 1.7x |
| Mon, 31 Jul 2023 | S$62.8b | S$32.6b | S$5.4b | 12.1x | 11.5x | 1.9x |
| Wed, 28 Jun 2023 | S$61.9b | S$32.9b | S$6.2b | 9.7x | 10.1x | 1.9x |
| Fri, 26 May 2023 | S$64.8b | S$32.9b | S$6.2b | 9.2x | 10.5x | 2x |
| Sun, 23 Apr 2023 | S$68.0b | S$32.8b | S$6.1b | 9.1x | 11.1x | 2.1x |
| Tue, 21 Mar 2023 | S$64.6b | S$32.8b | S$6.1b | 8.9x | 10.5x | 2x |
| Thu, 16 Feb 2023 | S$69.3b | S$32.5b | S$7.5b | 8.9x | 9.3x | 2.1x |
| Sat, 14 Jan 2023 | S$69.3b | S$32.5b | S$7.5b | 7.7x | 9.3x | 2.1x |
| Mon, 12 Dec 2022 | S$68.0b | S$32.4b | S$7.5b | 8.8x | 9.1x | 2.1x |
| Wed, 09 Nov 2022 | S$63.6b | S$32.5b | S$7.3b | 8.5x | 8.7x | 2x |
| Fri, 07 Oct 2022 | S$67.5b | S$32.7b | S$7.4b | 8.9x | 9.2x | 2.1x |
| Sun, 04 Sep 2022 | S$71.3b | S$32.8b | S$7.4b | 9.5x | 9.6x | 2.2x |
| Tue, 02 Aug 2022 | S$73.8b | S$32.3b | S$5.5b | 12x | 13.3x | 2.3x |
| Thu, 30 Jun 2022 | S$73.3b | S$32.4b | S$4.4b | 11x | 16.7x | 2.3x |
| Sat, 28 May 2022 | S$72.7b | S$32.6b | S$4.4b | 10.1x | 16.6x | 2.2x |
| Mon, 25 Apr 2022 | S$74.9b | S$32.7b | S$4.5b | 10.5x | 16.6x | 2.3x |
| Wed, 23 Mar 2022 | S$73.8b | S$33.3b | S$4.5b | 10.8x | 16.5x | 2.2x |
| Fri, 18 Feb 2022 | S$78.2b | S$30.3b | -S$1,391,024,440.00 | 12.7x | -56.2x | 2.6x |
| Sun, 16 Jan 2022 | S$74.1b | S$29.7b | -S$1,455,036,063.00 | 12.6x | -50.9x | 2.5x |
| Tue, 14 Dec 2021 | S$73.3b | S$27.8b | -S$1,008,613,594.00 | 12.4x | -72.7x | 2.6x |
| Thu, 11 Nov 2021 | S$96.8b | S$34.7b | -S$2,284,510,480.00 | 15.5x | -42.4x | 2.8x |
| Sat, 09 Oct 2021 | S$94.2b | S$34.5b | -S$2,303,285,984.00 | 12.7x | -40.9x | 2.7x |
| Mon, 06 Sep 2021 | S$75.7b | S$34.3b | -S$2,306,950,911.93 | 12.9x | -32.8x | 2.2x |
| Wed, 04 Aug 2021 | S$76.8b | S$34.5b | -S$2,372,779,048.67 | 12.7x | -32.4x | 2.2x |
Price to Earnings Ratio
-19.4x
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 40.6x which is higher than its 3-year average PE of 2.2x.
- The 3-year average PS ratio of 2.1x is higher than the industry's current PS ratio of 1.5x.
Past Earnings Growth
- Total earnings for the Real Estate industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 2.0% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Trends
Which industries have driven the changes within the Singaporean Real Estate industry?
| SG Market | 0.36% | |
| Real Estate | 1.37% | |
| Real Estate | 1.36% | |
| Real Estate Operating Companies | 2.10% | |
| Diversified Real Estate | 1.00% | |
| Real Estate Development | 0.40% | |
| Real Estate Services | -0.71% | |
Industry PE
- Investors are most optimistic about the Real Estate Services industry, which is trading close to its 3-year average PE ratio of 13.5x.
- Analysts are expecting annual earnings growth of 5.5%, which is higher than its past year's earnings decline of 39.5% per year.
Forecasted Growth
- Analysts are most optimistic on the Real Estate Development industry, expecting annual earnings growth of 53% over the next 5 years.
- This is better than its past earnings decline of 24% per year.
- In contrast, the Diversified Real Estate industry is expected to see its earnings decline by 8.1% 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 | |
|---|---|---|---|---|---|
| 9CI CapitaLand Investment | S$2.68 | 2.7% +S$346.6m | -23.6% | PE74.8x | |
| H78 Hongkong Land Holdings | US$3.47 | 2.1% +US$154.5m | -21.3% | PS4.2x | |
| LJ3 OUE | S$1.15 | 10.6% +S$92.4m | 2.7% | PE11.9x | |
| TQ5 Frasers Property | S$0.80 | 1.9% +S$58.9m | -8.6% | PS0.9x | |
| C09 City Developments | S$5.85 | 0.9% +S$44.7m | -14.0% | PE17.1x |
