CapitaLand Ascott Trust

SGX:HMN Stock Report

Market Cap: S$3.3b

CapitaLand Ascott Trust Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Discounted Cash Flow
Simply Wall St
S$1.43
Fair Value
39.2% undervalued intrinsic discount
9
Number of Analysts

Below Fair Value: HMN (SGD0.87) is trading below our estimate of fair value (SGD1.43)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HMN. This is calculated by dividing HMN's market cap by their current earnings.
What is HMN's PE Ratio?
PE Ratio14.6x
EarningsS$226.76m
Market CapS$3.28b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HMN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average42.2x
Q5T Far East Hospitality Trust
10.4x-16.7%S$1.2b
ACV Frasers Hospitality Trust
53.6x24.1%S$1.1b
J85 CDL Hospitality Trusts
72.2x38.0%S$1.0b
K71U Keppel REIT
32.4x15.2%S$3.2b
HMN CapitaLand Ascott Trust
14.6x-5.7%S$3.3b

Price-To-Earnings vs Peers: HMN is good value based on its Price-To-Earnings Ratio (14.6x) compared to the peer average (42.2x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HMN 14.6xIndustry Avg. 11.3xNo. of Companies5PE01020304050+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HMN is expensive based on its Price-To-Earnings Ratio (14.6x) compared to the Asian Hotel and Resort REITs industry average (11.3x).

Price to Earnings Ratio vs Fair Ratio

What is HMN'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.

HMN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.6x
Fair PE Ratio19.1x

Price-To-Earnings vs Fair Ratio: HMN is good value based on its Price-To-Earnings Ratio (14.6x) compared to the estimated Fair Price-To-Earnings Ratio (19.1x).

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 HMN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentS$0.87
S$1.07
+23.4%
14.5%S$1.38S$0.85n/a9
Jan ’26S$0.87
S$1.08
+23.9%
14.6%S$1.38S$0.85n/a9
Dec ’25S$0.89
S$1.08
+21.7%
14.2%S$1.38S$0.85n/a9
Nov ’25S$0.91
S$1.11
+22.5%
13.0%S$1.38S$0.85n/a8
Oct ’25S$0.97
S$1.10
+12.9%
12.8%S$1.37S$0.85n/a8
Sep ’25S$0.91
S$1.09
+19.9%
11.4%S$1.30S$0.85n/a8
Aug ’25S$0.91
S$1.09
+20.6%
11.4%S$1.30S$0.85n/a8
Jul ’25S$0.88
S$1.12
+27.6%
14.3%S$1.40S$0.85n/a8
Jun ’25S$0.90
S$1.13
+26.7%
13.7%S$1.40S$0.85n/a10
May ’25S$0.91
S$1.13
+24.6%
13.7%S$1.40S$0.85n/a10
Apr ’25S$0.94
S$1.16
+22.3%
14.0%S$1.45S$0.90n/a10
Mar ’25S$0.90
S$1.15
+28.9%
14.1%S$1.45S$0.90n/a10
Feb ’25S$0.96
S$1.16
+20.8%
13.3%S$1.45S$0.90S$0.9011
Jan ’25S$0.99
S$1.13
+14.2%
11.8%S$1.32S$0.90S$0.8711
Dec ’24S$0.94
S$1.12
+20.3%
12.4%S$1.32S$0.90S$0.8911
Nov ’24S$0.91
S$1.13
+24.1%
12.8%S$1.32S$0.90S$0.9111
Oct ’24S$0.96
S$1.24
+28.9%
10.0%S$1.35S$0.90S$0.9710
Sep ’24S$0.97
S$1.24
+27.9%
9.6%S$1.35S$0.90S$0.9111
Aug ’24S$1.12
S$1.23
+9.9%
9.8%S$1.39S$0.90S$0.9111
Jul ’24S$1.08
S$1.24
+14.5%
9.7%S$1.39S$0.90S$0.8811
Jun ’24S$1.07
S$1.24
+15.5%
9.7%S$1.39S$0.90S$0.9011
May ’24S$1.08
S$1.24
+14.5%
9.7%S$1.39S$0.90S$0.9111
Apr ’24S$0.99
S$1.24
+24.3%
10.8%S$1.39S$0.85S$0.9411
Mar ’24S$1.01
S$1.20
+18.9%
13.4%S$1.39S$0.85S$0.9011
Feb ’24S$1.09
S$1.17
+7.4%
14.8%S$1.40S$0.85S$0.9611
Analyst Price Target
Consensus Narrative from 9 Analysts
S$1.07
Fair Value
18.9% undervalued intrinsic discount
9
Number of Analysts

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 Analysis2025/02/07 10:49
End of Day Share Price 2025/02/07 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

CapitaLand Ascott Trust is covered by 23 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Siti Bte SalikinCFRA Equity Research
Justin JenkinsCGS International
Brandon I. LeeCitigroup Inc