Frasers Logistics & Commercial Trust (SGX:BUOU) Stock Valuation, Peer Comparison & Price Targets

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

BUOU (SGD0.91) is trading below our estimate of [[fair value]] (SGD1.86)

Share Price vs Fair Value

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

Below Fair Value: BUOU (SGD0.91) is trading below our estimate of fair value (SGD1.86)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BUOU. This is calculated by dividing BUOU's market cap by their current earnings.
What is BUOU's PE Ratio?
PE Ratio	23.2x
Earnings	S$147.53m
Market Cap	S$3.42b

BUOU 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	12.9x
Enterprise Value/EBITDA	20.6x
PEG Ratio	2x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BUOU 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	45.4x
M44U Mapletree Logistics Trust	24.8x	12.1%	S$6.3b
ME8U Mapletree Industrial Trust	54x	22.4%	S$6.5b
A17U CapitaLand Ascendas REIT	80.1x	23.0%	S$11.3b
O5RU AIMS APAC REIT	22.8x	21.1%	S$1.0b
BUOU Frasers Logistics & Commercial Trust	23.2x	11.7%	S$3.4b

Price-To-Earnings vs Peers: BUOU is good value based on its Price-To-Earnings Ratio (23.2x) compared to the peer average (45.4x).

Price to Earnings Ratio vs Industry

How does BUOU's PE Ratio compare vs other companies in the Asian Industrial REITs Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: BUOU is expensive based on its Price-To-Earnings Ratio (23.2x) compared to the Asian Industrial REITs industry average (20.7x).

Price to Earnings Ratio vs Fair Ratio

What is BUOU'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.

BUOU PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	23.2x
Fair PE Ratio	20.6x

Price-To-Earnings vs Fair Ratio: BUOU is expensive based on its Price-To-Earnings Ratio (23.2x) compared to the estimated Fair Price-To-Earnings Ratio (20.6x).

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 BUOU 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$0.91	S$1.18 +29.5%	13.4%	S$1.43	S$0.85	n/a	9
Nov ’25	S$1.07	S$1.26 +18.2%	9.5%	S$1.49	S$1.14	n/a	9
Oct ’25	S$1.16	S$1.28 +10.6%	9.2%	S$1.50	S$1.15	n/a	9
Sep ’25	S$1.09	S$1.25 +14.2%	9.2%	S$1.43	S$1.13	n/a	8
Aug ’25	S$1.02	S$1.21 +18.9%	8.6%	S$1.41	S$1.06	n/a	9
Jul ’25	S$0.94	S$1.27 +34.2%	11.0%	S$1.55	S$1.10	n/a	9
Jun ’25	S$0.99	S$1.26 +27.0%	10.8%	S$1.56	S$1.10	n/a	10
May ’25	S$0.99	S$1.40 +41.0%	32.1%	S$2.72	S$1.15	n/a	10
Apr ’25	S$1.06	S$1.39 +31.4%	32.0%	S$2.69	S$1.14	n/a	10
Mar ’25	S$1.03	S$1.27 +23.7%	11.2%	S$1.62	S$1.14	n/a	10
Feb ’25	S$1.09	S$1.29 +17.9%	11.0%	S$1.62	S$1.13	n/a	11
Jan ’25	S$1.15	S$1.29 +11.8%	8.3%	S$1.49	S$1.14	n/a	11
Dec ’24	S$1.09	S$1.31 +20.4%	10.2%	S$1.50	S$1.11	n/a	11
Nov ’24	S$1.04	S$1.32 +27.3%	11.7%	S$1.50	S$0.98	S$1.07	11
Oct ’24	S$1.07	S$1.34 +25.1%	10.6%	S$1.51	S$1.05	S$1.16	10
Sep ’24	S$1.20	S$1.40 +17.1%	7.2%	S$1.52	S$1.18	S$1.09	11
Aug ’24	S$1.24	S$1.43 +15.2%	5.8%	S$1.53	S$1.24	S$1.02	11
Jul ’24	S$1.25	S$1.46 +16.5%	5.8%	S$1.56	S$1.26	S$0.94	11
Jun ’24	S$1.28	S$1.42 +10.9%	6.1%	S$1.53	S$1.24	S$0.99	11
May ’24	S$1.35	S$1.37 +1.3%	7.7%	S$1.52	S$1.17	S$0.99	12
Apr ’24	S$1.31	S$1.35 +2.8%	7.4%	S$1.51	S$1.17	S$1.06	12
Mar ’24	S$1.26	S$1.38 +9.8%	7.6%	S$1.57	S$1.21	S$1.03	11
Feb ’24	S$1.30	S$1.36 +4.6%	8.1%	S$1.56	S$1.22	S$1.09	11
Jan ’24	S$1.16	S$1.34 +15.6%	7.4%	S$1.54	S$1.20	S$1.15	11
Dec ’23	S$1.14	S$1.37 +20.2%	8.4%	S$1.56	S$1.20	S$1.09	11
Nov ’23	S$1.11	S$1.43 +29.2%	6.2%	S$1.63	S$1.31	S$1.04	11

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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