Lendlease Global Commercial REIT (SGX:JYEU) Stock Valuation, Peer Comparison & Price Targets

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

JYEU (SGD0.56) is trading above our estimate of [[fair value]] (SGD0.44)

Share Price vs Fair Value

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

Below Fair Value: JYEU (SGD0.56) is trading above our estimate of fair value (SGD0.44)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for JYEU. This is calculated by dividing JYEU's market cap by their current earnings.
What is JYEU's PE Ratio?
PE Ratio	23.3x
Earnings	S$58.23m
Market Cap	S$1.33b

JYEU 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	12.8x
Enterprise Value/EBITDA	19.6x
PEG Ratio	2.7x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for JYEU 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	29.8x
AU8U CapitaLand China Trust	77.8x	37.2%	S$1.2b
P40U Starhill Global Real Estate Investment Trust	17.9x	15.0%	S$1.1b
CRPU Sasseur Real Estate Investment Trust	13.9x	9.6%	S$875.5m
SK6U Paragon REIT	9.7x	-20.9%	S$2.5b
JYEU Lendlease Global Commercial REIT	23.3x	8.6%	S$1.3b

Price-To-Earnings vs Peers: JYEU is good value based on its Price-To-Earnings Ratio (23.3x) compared to the peer average (29.8x).

Price to Earnings Ratio vs Industry

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

0 Companies	Price / Earnings	Estimated Growth	Market Cap

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: JYEU is expensive based on its Price-To-Earnings Ratio (23.3x) compared to the Asian Retail REITs industry average (14.1x).

Price to Earnings Ratio vs Fair Ratio

What is JYEU'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.

JYEU PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	23.3x
Fair PE Ratio	19.1x

Price-To-Earnings vs Fair Ratio: JYEU is expensive based on its Price-To-Earnings Ratio (23.3x) 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 JYEU 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$0.56	S$0.70 +25.9%	11.1%	S$0.80	S$0.58	n/a	6
Nov ’25	S$0.58	S$0.71 +21.7%	10.2%	S$0.80	S$0.58	n/a	7
Oct ’25	S$0.61	S$0.71 +14.7%	10.2%	S$0.80	S$0.58	n/a	7
Sep ’25	S$0.58	S$0.70 +18.9%	10.6%	S$0.80	S$0.58	n/a	7
Aug ’25	S$0.61	S$0.79 +29.2%	12.2%	S$0.90	S$0.62	n/a	6
Jul ’25	S$0.56	S$0.81 +43.8%	11.2%	S$0.90	S$0.67	n/a	6
Jun ’25	S$0.56	S$0.79 +41.6%	15.1%	S$0.96	S$0.61	n/a	7
May ’25	S$0.55	S$0.76 +38.8%	16.5%	S$0.93	S$0.58	n/a	8
Apr ’25	S$0.58	S$0.76 +30.4%	16.5%	S$0.93	S$0.58	n/a	8
Mar ’25	S$0.57	S$0.76 +32.7%	16.5%	S$0.93	S$0.58	n/a	8
Feb ’25	S$0.62	S$0.75 +20.4%	15.2%	S$0.90	S$0.58	n/a	9
Jan ’25	S$0.65	S$0.75 +16.8%	13.6%	S$0.90	S$0.58	n/a	9
Dec ’24	S$0.61	S$0.75 +22.3%	13.5%	S$0.90	S$0.58	n/a	9
Nov ’24	S$0.52	S$0.76 +46.6%	13.2%	S$0.90	S$0.58	S$0.58	9
Oct ’24	S$0.55	S$0.78 +43.3%	10.5%	S$0.90	S$0.61	S$0.61	9
Sep ’24	S$0.57	S$0.80 +39.7%	13.4%	S$1.00	S$0.61	S$0.58	9
Aug ’24	S$0.68	S$0.84 +23.5%	9.6%	S$1.00	S$0.75	S$0.61	9
Jul ’24	S$0.66	S$0.84 +28.0%	9.9%	S$1.00	S$0.75	S$0.56	8
Jun ’24	S$0.67	S$0.84 +26.1%	9.9%	S$1.00	S$0.75	S$0.56	8
May ’24	S$0.70	S$0.84 +20.7%	9.9%	S$1.00	S$0.75	S$0.55	8
Apr ’24	S$0.68	S$0.84 +22.9%	10.3%	S$1.00	S$0.75	S$0.58	7
Mar ’24	S$0.69	S$0.82 +17.8%	11.7%	S$1.00	S$0.70	S$0.57	7
Feb ’24	S$0.74	S$0.82 +10.4%	11.9%	S$1.00	S$0.70	S$0.62	7
Jan ’24	S$0.70	S$0.83 +17.7%	12.5%	S$1.00	S$0.70	S$0.65	7
Dec ’23	S$0.72	S$0.86 +19.1%	14.1%	S$1.05	S$0.70	S$0.61	8
Nov ’23	S$0.71	S$0.92 +30.1%	13.3%	S$1.10	S$0.70	S$0.52	8

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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Lendlease Global Commercial REIT Valuation