Mapletree Pan Asia Commercial Trust

DB:BI0 Stock Report

Market Cap: €4.5b

Mapletree Pan Asia Commercial Trust Valuation

Is BI0 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BI0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BI0 (€0.77) is trading below our estimate of fair value (€0.79)

Significantly Below Fair Value: BI0 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BI0?

Key metric: As BI0 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BI0. This is calculated by dividing BI0's market cap by their current earnings.
What is BI0's PE Ratio?
PE Ratio13.9x
EarningsS$458.09m
Market CapS$6.37b

Price to Earnings Ratio vs Peers

How does BI0's PE Ratio compare to its peers?

The above table shows the PE ratio for BI0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average39.2x
HABA Hamborner REIT
62.4x9.5%€510.8m
SRC Spirit Realty Capital
24.1x-8.7%US$6.0b
GGC General de Galerías Comerciales SOCIMI
30.1xn/a€3.7b
ADC Agree Realty
40.3x10.3%US$7.3b
BI0 Mapletree Pan Asia Commercial Trust
13.9x2.2%€6.4b

Price-To-Earnings vs Peers: BI0 is good value based on its Price-To-Earnings Ratio (13.9x) compared to the peer average (39.2x).

Price to Earnings Ratio vs Industry

How does BI0's PE Ratio compare vs other companies in the European Retail REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BI0 13.9xIndustry Avg. 21.2xNo. of Companies4PE01632486480+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BI0 is good value based on its Price-To-Earnings Ratio (13.9x) compared to the European Retail REITs industry average (21.2x).

Price to Earnings Ratio vs Fair Ratio

What is BI0's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BI0 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BI0's Price-To-Earnings Fair Ratio for valuation analysis.

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 BI0 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.77
€1.07
+38.6%
11.1%€1.27€0.88n/a14
Dec ’25€0.78
€1.07
+36.8%
10.8%€1.27€0.88n/a14
Nov ’25€0.82
€1.06
+30.3%
9.9%€1.26€0.90n/a13
Oct ’25€0.98
€1.09
+10.6%
9.1%€1.23€0.91n/a13
Sep ’25€0.86
€1.03
+19.2%
9.3%€1.20€0.89n/a12
Aug ’25€0.82
€1.04
+26.2%
9.3%€1.21€0.90n/a12
Jul ’25€0.82
€1.05
+26.9%
11.8%€1.30€0.89n/a12
Jun ’25€0.81
€1.05
+29.8%
12.0%€1.29€0.89n/a12
May ’25€0.84
€1.07
+27.0%
11.4%€1.30€0.89n/a12
Apr ’25€0.85
€1.12
+32.0%
10.3%€1.38€0.93n/a13
Mar ’25€0.88
€1.12
+27.9%
10.3%€1.38€0.93n/a13
Feb ’25€0.96
€1.12
+17.1%
10.0%€1.38€0.93n/a14
Jan ’25€1.04
€1.10
+5.8%
11.0%€1.38€0.87n/a14
Dec ’24€0.91
€1.08
+18.7%
11.8%€1.37€0.85€0.7814
Nov ’24€0.88
€1.11
+25.3%
12.2%€1.38€0.86€0.8214
Oct ’24€0.96
€1.21
+25.5%
6.3%€1.37€1.06€0.9814
Sep ’24€1.01
€1.24
+23.6%
6.8%€1.40€1.09€0.8615
Aug ’24€1.10
€1.27
+15.6%
6.0%€1.40€1.16€0.8215
Jul ’24€1.06
€1.31
+23.1%
5.1%€1.41€1.17€0.8215
Jun ’24€1.11
€1.31
+17.8%
5.1%€1.41€1.17€0.8115
May ’24€1.17
€1.28
+9.7%
6.8%€1.40€1.07€0.8415
Apr ’24€1.21
€1.30
+7.8%
7.9%€1.45€1.10€0.8515
Mar ’24€1.16
€1.30
+11.3%
9.1%€1.46€1.05€0.8816
Feb ’24€1.23
€1.30
+5.8%
10.2%€1.57€1.05€0.9616
Jan ’24€1.13
€1.29
+14.2%
9.8%€1.56€1.04€1.0416
Dec ’23€1.16
€1.29
+10.9%
8.3%€1.43€1.05€0.9114

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/25 04:57
End of Day Share Price 2024/12/23 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Mapletree Pan Asia Commercial Trust is covered by 26 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Donald ChuaBofA Global Research
Siti Bte SalikinCFRA Equity Research
Justin JenkinsCGS International