Frasers Hospitality Trust (SGX:ACV) Stock Valuation, Peer Comparison & Price Targets

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

ACV (SGD0.43) is trading below our estimate of [[fair value]] (SGD0.74)

Share Price vs Fair Value

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

Below Fair Value: ACV (SGD0.43) is trading below our estimate of fair value (SGD0.74)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ACV. This is calculated by dividing ACV's market cap by their current earnings.
What is ACV's PE Ratio?
PE Ratio	40.3x
Earnings	S$20.29m
Market Cap	S$818.58m

ACV 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	11.1x
Enterprise Value/EBITDA	18.5x
PEG Ratio	1.7x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ACV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	14x
J85 CDL Hospitality Trusts	8.5x	-26.5%	S$1.1b
Q5T Far East Hospitality Trust	10.5x	-14.9%	S$1.2b
HMN CapitaLand Ascott Trust	14.1x	-9.4%	S$3.4b
O5RU AIMS APAC REIT	22.8x	21.1%	S$1.0b
ACV Frasers Hospitality Trust	40.3x	24.1%	S$818.6m

Price-To-Earnings vs Peers: ACV is expensive based on its Price-To-Earnings Ratio (40.3x) compared to the peer average (14x).

Price to Earnings Ratio vs Industry

How does ACV's PE Ratio compare vs other companies in the Asian Hotel and Resort REITs Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: ACV is expensive based on its Price-To-Earnings Ratio (40.3x) compared to the Asian Hotel and Resort REITs industry average (11.8x).

Price to Earnings Ratio vs Fair Ratio

What is ACV'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.

ACV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	40.3x
Fair PE Ratio	21.8x

Price-To-Earnings vs Fair Ratio: ACV is expensive based on its Price-To-Earnings Ratio (40.3x) compared to the estimated Fair Price-To-Earnings Ratio (21.8x).

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 ACV 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	S$0.42	S$0.47 +9.4%	3.2%	S$0.48	S$0.45	n/a	2
Nov ’25	S$0.43	S$0.55 +27.9%	12.7%	S$0.62	S$0.48	n/a	2
Oct ’25	S$0.47	S$0.55 +18.3%	12.7%	S$0.62	S$0.48	n/a	2
Sep ’25	S$0.43	S$0.55 +26.4%	12.7%	S$0.62	S$0.48	n/a	2
Aug ’25	S$0.42	S$0.56 +34.5%	9.7%	S$0.62	S$0.51	n/a	2
Jul ’25	S$0.41	S$0.56 +36.1%	9.7%	S$0.62	S$0.51	n/a	2
Jun ’25	S$0.43	S$0.56 +31.4%	9.7%	S$0.62	S$0.51	n/a	2
May ’25	S$0.46	S$0.57 +25.0%	7.8%	S$0.62	S$0.53	n/a	2
Apr ’25	S$0.47	S$0.57 +23.7%	7.8%	S$0.62	S$0.53	n/a	2
Mar ’25	S$0.47	S$0.57 +23.7%	7.8%	S$0.62	S$0.53	n/a	2
Feb ’25	S$0.47	S$0.57 +22.3%	7.8%	S$0.62	S$0.53	n/a	2
Jan ’25	S$0.49	S$0.57 +16.2%	7.8%	S$0.62	S$0.53	n/a	2
Dec ’24	S$0.50	S$0.57 +15.0%	7.8%	S$0.62	S$0.53	n/a	2
Nov ’24	S$0.51	S$0.56 +9.8%	3.6%	S$0.58	S$0.54	S$0.43	2
Oct ’24	S$0.51	S$0.56 +10.9%	3.6%	S$0.58	S$0.54	S$0.47	2
Sep ’24	S$0.47	S$0.56 +17.9%	3.6%	S$0.58	S$0.54	S$0.43	2
Aug ’24	S$0.48	S$0.56 +16.7%	3.6%	S$0.58	S$0.54	S$0.42	2
Jul ’24	S$0.47	S$0.56 +19.1%	3.6%	S$0.58	S$0.54	S$0.41	2
Jun ’24	S$0.47	S$0.56 +17.9%	3.6%	S$0.58	S$0.54	S$0.43	2
May ’24	S$0.48	S$0.56 +16.7%	3.6%	S$0.58	S$0.54	S$0.46	2
Apr ’24	S$0.45	S$0.56 +24.4%	3.6%	S$0.58	S$0.54	S$0.47	2
Mar ’24	S$0.47	S$0.56 +19.1%	3.6%	S$0.58	S$0.54	S$0.47	2
Feb ’24	S$0.50	S$0.56 +13.0%	2.7%	S$0.58	S$0.55	S$0.47	2
Jan ’24	S$0.45	S$0.56 +27.0%	2.7%	S$0.58	S$0.55	S$0.49	2
Dec ’23	S$0.44	S$0.56 +28.4%	2.7%	S$0.58	S$0.55	S$0.50	2

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Frasers Hospitality Trust Valuation