CapitaLand Investment Limited

SGX:9CI Stock Report

Market Cap: S$12.7b

CapitaLand Investment Valuation

Is 9CI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 9CI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9CI (SGD2.55) is trading above our estimate of fair value (SGD1.26)

Significantly Below Fair Value: 9CI is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9CI?

Key metric: As 9CI is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 9CI. This is calculated by dividing 9CI's market cap by their current earnings.
What is 9CI's PE Ratio?
PE Ratio78.9x
EarningsS$161.00m
Market CapS$12.71b

Price to Earnings Ratio vs Peers

How does 9CI's PE Ratio compare to its peers?

The above table shows the PE ratio for 9CI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.3x
CY6U CapitaLand India Trust
7.9x3.5%S$1.4b
OU8 Centurion
3.4x-28.7%S$802.9m
H30 Hong Fok
7.9xn/aS$667.7m
BTE Bund Center Investment
26xn/aS$277.0m
9CI CapitaLand Investment
78.9x27.9%S$12.7b

Price-To-Earnings vs Peers: 9CI is expensive based on its Price-To-Earnings Ratio (78.9x) compared to the peer average (11.3x).

Price to Earnings Ratio vs Industry

How does 9CI's PE Ratio compare vs other companies in the SG Real Estate Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
AZA IPC
1.9xn/aUS$6.17m
No more companies available in this PE range
9CI 78.9xIndustry Avg. 13.9xNo. of Companies6PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 9CI is expensive based on its Price-To-Earnings Ratio (78.9x) compared to the SG Real Estate industry average (13.9x).

Price to Earnings Ratio vs Fair Ratio

What is 9CI'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.

9CI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio78.9x
Fair PE Ratio23.4x

Price-To-Earnings vs Fair Ratio: 9CI is expensive based on its Price-To-Earnings Ratio (78.9x) compared to the estimated Fair Price-To-Earnings Ratio (23.4x).

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 9CI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentS$2.55
S$3.59
+40.6%
9.5%S$4.30S$3.03n/a14
Dec ’25S$2.73
S$3.59
+31.4%
9.5%S$4.30S$3.03n/a14
Nov ’25S$2.84
S$3.58
+25.9%
10.3%S$4.30S$3.03n/a14
Oct ’25S$3.08
S$3.61
+17.0%
10.7%S$4.30S$3.03n/a14
Sep ’25S$2.71
S$3.59
+32.4%
10.8%S$4.30S$2.85n/a15
Aug ’25S$2.71
S$3.74
+37.9%
10.0%S$4.30S$3.00n/a15
Jul ’25S$2.65
S$3.74
+41.0%
10.0%S$4.30S$3.00n/a15
Jun ’25S$2.66
S$3.79
+42.6%
10.8%S$4.44S$3.00n/a15
May ’25S$2.66
S$3.79
+42.6%
10.8%S$4.44S$3.00n/a15
Apr ’25S$2.70
S$3.80
+40.9%
10.3%S$4.44S$3.03n/a15
Mar ’25S$2.71
S$3.87
+42.8%
8.7%S$4.44S$3.15n/a15
Feb ’25S$2.91
S$3.93
+35.2%
9.3%S$4.57S$3.30n/a16
Jan ’25S$3.16
S$3.94
+24.8%
9.5%S$4.57S$3.30n/a16
Dec ’24S$3.05
S$3.93
+28.8%
9.3%S$4.57S$3.30S$2.7316
Nov ’24S$2.94
S$4.06
+38.0%
8.4%S$4.57S$3.47S$2.8415
Oct ’24S$3.10
S$4.07
+31.4%
8.6%S$4.57S$3.47S$3.0815
Sep ’24S$3.24
S$4.09
+26.2%
8.8%S$4.57S$3.47S$2.7115
Aug ’24S$3.42
S$4.19
+22.4%
6.5%S$4.68S$3.65S$2.7115
Jul ’24S$3.31
S$4.21
+27.3%
6.5%S$4.68S$3.65S$2.6515
Jun ’24S$3.31
S$4.25
+28.5%
5.7%S$4.68S$3.65S$2.6614
May ’24S$3.72
S$4.23
+13.7%
6.1%S$4.61S$3.65S$2.6614
Apr ’24S$3.68
S$4.24
+15.3%
6.2%S$4.68S$3.65S$2.7014
Mar ’24S$3.69
S$4.26
+15.6%
6.1%S$4.67S$3.65S$2.7115
Feb ’24S$3.97
S$4.28
+7.8%
6.1%S$4.67S$3.59S$2.9115
Jan ’24S$3.70
S$4.29
+15.9%
6.1%S$4.67S$3.59S$3.1615
Dec ’23S$3.72
S$4.28
+14.9%
6.1%S$4.67S$3.59S$3.0516

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 Analysis2024/12/21 21:56
End of Day Share Price 2024/12/20 00:00
Earnings2024/06/30
Annual Earnings2023/12/31

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

CapitaLand Investment Limited is covered by 27 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
Justin JenkinsCGS International
Mun Yee LockCGS International