| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 4/6 |
| Past Performance | 0/6 |
| Financial Health | 2/6 |
| Dividends | 3/6 |
C09 Stock Overview
City Developments Limited (CDL) is a leading global real estate operating company with a network spanning 103 locations in 29 countries and regions.
City Developments Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | S$7.11 |
| 52 Week High | S$8.38 |
| 52 Week Low | S$6.55 |
| Beta | 1.37 |
| 1 Month Change | 4.87% |
| 3 Month Change | -4.31% |
| 1 Year Change | -7.06% |
| 3 Year Change | -20.82% |
| 5 Year Change | -20.47% |
| Change since IPO | 115.46% |
Recent News & Updates
Is City Developments (SGX:C09) Using Debt Sensibly?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
Is City Developments (SGX:C09) Using Too Much Debt?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Is There An Opportunity With City Developments Limited's (SGX:C09) 35% Undervaluation?
In this article we are going to estimate the intrinsic value of City Developments Limited ( SGX:C09 ) by taking the...
Why City Developments Limited (SGX:C09) Could Be Worth Watching
City Developments Limited ( SGX:C09 ), might not be a large cap stock, but it received a lot of attention from a...
Shareholder Returns
| C09 | SG Real Estate | SG Market | |
|---|---|---|---|
| 7D | 3.9% | -0.07% | 1.5% |
| 1Y | -7.1% | 2.7% | 4.4% |
Return vs Industry: C09 underperformed the SG Real Estate industry which returned 2.7% over the past year.
Return vs Market: C09 underperformed the SG Market which returned 4.4% over the past year.
Price Volatility
| C09 volatility | |
|---|---|
| C09 Average Weekly Movement | 2.0% |
| Real Estate Industry Average Movement | 3.1% |
| Market Average Movement | 4.7% |
| 10% most volatile stocks in SG Market | 13.5% |
| 10% least volatile stocks in SG Market | 2.1% |
Stable Share Price: C09 is less volatile than 75% of SG stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: C09's weekly volatility (2%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1963 | n/a | Sherman Kwek | https://www.cdl.com.sg |
City Developments Limited (CDL) is a leading global real estate operating company with a network spanning 103 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its income-stable and geographically-diverse portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls.
City Developments Fundamentals Summary
| C09 fundamental statistics | |
|---|---|
| Market Cap | S$6.45b |
| Earnings (TTM) | -S$1.97b |
| Revenue (TTM) | S$2.23b |
2.9x
P/S Ratio-3.3x
P/E RatioIs C09 overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| C09 income statement (TTM) | |
|---|---|
| Revenue | S$2.23b |
| Cost of Revenue | S$1.43b |
| Gross Profit | S$799.27m |
| Expenses | S$2.76b |
| Earnings | -S$1.97b |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | -2.17 |
| Gross Margin | 35.88% |
| Net Profit Margin | -88.23% |
| Debt/Equity Ratio | 124.1% |
How did C09 perform over the long term?
See historical performance and comparisonDividends
2.1%
Current Dividend Yield-4%
Payout RatioValuation
Is City Developments undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: C09 (SGD7.11) is trading below our estimate of fair value (SGD14.3)
Significantly Below Fair Value: C09 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: C09 is unprofitable, so we can't compare its PE Ratio to the SG Real Estate industry average.
PE vs Market: C09 is unprofitable, so we can't compare its PE Ratio to the SG market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate C09's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: C09 is overvalued based on its PB Ratio (0.8x) compared to the SG Real Estate industry average (0.5x).
Future Growth
How is City Developments forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?
33.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: C09 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.8%).
Earnings vs Market: C09 is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: C09's is expected to become profitable in the next 3 years.
Revenue vs Market: C09's revenue (16.5% per year) is forecast to grow faster than the SG market (7.7% per year).
High Growth Revenue: C09's revenue (16.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: C09's Return on Equity is forecast to be low in 3 years time (6.7%).
Past Performance
How has City Developments performed over the past 5 years?
-57.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: C09 is currently unprofitable.
Growing Profit Margin: C09 is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: C09 is unprofitable, and losses have increased over the past 5 years at a rate of 57.4% per year.
Accelerating Growth: Unable to compare C09's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: C09 is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (19.9%).
Return on Equity
High ROE: C09 has a negative Return on Equity (-20.48%), as it is currently unprofitable.
Financial Health
How is City Developments's financial position?
Financial Position Analysis
Short Term Liabilities: C09's short term assets (SGD12.3B) exceed its short term liabilities (SGD6.9B).
Long Term Liabilities: C09's short term assets (SGD12.3B) exceed its long term liabilities (SGD8.4B).
Debt to Equity History and Analysis
Debt Level: C09's net debt to equity ratio (95%) is considered high.
Reducing Debt: C09's debt to equity ratio has increased from 57.6% to 124.1% over the past 5 years.
Debt Coverage: C09's debt is not well covered by operating cash flow (6.7%).
Interest Coverage: Insufficient data to determine if C09's interest payments on its debt are well covered by EBIT.
Balance Sheet
Dividend
What is City Developments's current dividend yield, its reliability and sustainability?
2.11%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: C09's dividend (2.11%) is higher than the bottom 25% of dividend payers in the SG market (2%).
High Dividend: C09's dividend (2.11%) is low compared to the top 25% of dividend payers in the SG market (5.49%).
Stability and Growth of Payments
Stable Dividend: C09's dividend payments have been volatile in the past 10 years.
Growing Dividend: C09's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: C09 is paying a dividend but the company is unprofitable.
Future Payout to Shareholders
Future Dividend Coverage: C09's dividends in 3 years are forecast to be well covered by earnings (33.7% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.5yrs
Average management tenure
CEO
Sherman Kwek (46 yo)
4yrs
Tenure
S$1,015,000
Compensation
Mr. Eik Tse Kwek, also known as Sherman, has been Group Chief Executive Officer of City Developments Limited (“CDL”) since January 1, 2018. Mr. Kwek serves as Executive Director of City Developments Limite...
CEO Compensation Analysis
Compensation vs Market: Sherman's total compensation ($USD753.24K) is about average for companies of similar size in the SG market ($USD946.58K).
Compensation vs Earnings: Sherman's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: C09's management team is seasoned and experienced (5.5 years average tenure).
Board Members
Experienced Board: C09's board of directors are not considered experienced ( 1.2 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
City Developments Limited's employee growth, exchange listings and data sources
Key Information
- Name: City Developments Limited
- Ticker: C09
- Exchange: SGX
- Founded: 1963
- Industry: Diversified Real Estate Activities
- Sector: Real Estate
- Implied Market Cap: S$6.448b
- Shares outstanding: 906.90m
- Website: https://www.cdl.com.sg
Number of Employees
Location
- City Developments Limited
- 9 Raffles Place
- Suite 12-01 Republic Plaza
- Singapore
- 48619
- Singapore
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/01/16 11:02 |
| End of Day Share Price | 2022/01/14 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
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.