Mapletree Logistics Trust Valuation

Is M44U undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 M44U when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: M44U (SGD1.28) is trading below our estimate of fair value (SGD1.97)

Significantly Below Fair Value: M44U is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for M44U?

Key metric: As M44U is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for M44U. This is calculated by dividing M44U's market cap by their current earnings.
What is M44U's PE Ratio?
PE Ratio25.4x
EarningsS$254.47m
Market CapS$6.47b

Price to Earnings Ratio vs Peers

How does M44U's PE Ratio compare to its peers?

The above table shows the PE ratio for M44U vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average45.3x
ME8U Mapletree Industrial Trust
53.7x21.2%S$6.4b
A17U CapitaLand Ascendas REIT
81.4x23.0%S$11.4b
BUOU Frasers Logistics & Commercial Trust
22.4x10.9%S$3.3b
O5RU AIMS APAC REIT
23.6x21.1%S$1.0b
M44U Mapletree Logistics Trust
25.4x11.9%S$6.5b

Price-To-Earnings vs Peers: M44U is good value based on its Price-To-Earnings Ratio (25.4x) compared to the peer average (45.3x).


Price to Earnings Ratio vs Industry

How does M44U's PE Ratio compare vs other companies in the Asian Industrial REITs Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
M44U 25.4xIndustry Avg. 20.8xNo. of Companies6PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: M44U is expensive based on its Price-To-Earnings Ratio (25.4x) compared to the Asian Industrial REITs industry average (20.8x).


Price to Earnings Ratio vs Fair Ratio

What is M44U'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.

M44U PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25.4x
Fair PE Ratio21.3x

Price-To-Earnings vs Fair Ratio: M44U is expensive based on its Price-To-Earnings Ratio (25.4x) compared to the estimated Fair Price-To-Earnings Ratio (21.3x).


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 M44U forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentS$1.28
S$1.59
+24.0%
7.1%S$1.75S$1.30n/a14
Jan ’26S$1.27
S$1.59
+25.2%
6.8%S$1.75S$1.30n/a14
Dec ’25S$1.28
S$1.59
+24.2%
6.8%S$1.75S$1.30n/a14
Nov ’25S$1.32
S$1.60
+21.4%
5.0%S$1.75S$1.45n/a13
Oct ’25S$1.48
S$1.60
+8.3%
5.1%S$1.75S$1.44n/a13
Sep ’25S$1.36
S$1.56
+14.9%
5.9%S$1.75S$1.37n/a13
Aug ’25S$1.32
S$1.56
+18.4%
5.9%S$1.75S$1.37n/a13
Jul ’25S$1.30
S$1.62
+24.9%
9.4%S$1.89S$1.30n/a13
Jun ’25S$1.33
S$1.62
+22.1%
9.4%S$1.89S$1.30n/a13
May ’25S$1.35
S$1.69
+25.2%
9.1%S$1.87S$1.30n/a13
Apr ’25S$1.48
S$1.77
+19.4%
5.6%S$1.88S$1.60n/a13
Mar ’25S$1.46
S$1.77
+21.3%
6.1%S$1.98S$1.60n/a14
Feb ’25S$1.52
S$1.78
+16.9%
5.7%S$1.98S$1.60n/a15
Jan ’25S$1.74
S$1.76
+1.1%
5.4%S$1.89S$1.60S$1.2715
Dec ’24S$1.61
S$1.75
+8.6%
6.1%S$1.89S$1.55S$1.2815
Nov ’24S$1.48
S$1.74
+17.7%
7.0%S$1.89S$1.45S$1.3215
Oct ’24S$1.68
S$1.82
+8.5%
5.0%S$2.05S$1.66S$1.4815
Sep ’24S$1.68
S$1.81
+8.0%
5.3%S$2.05S$1.66S$1.3616
Aug ’24S$1.67
S$1.80
+8.0%
6.0%S$2.05S$1.59S$1.3216
Jul ’24S$1.62
S$1.81
+11.6%
6.2%S$2.00S$1.59S$1.3016
Jun ’24S$1.67
S$1.81
+8.3%
6.2%S$2.00S$1.59S$1.3316
May ’24S$1.74
S$1.77
+1.8%
6.5%S$1.99S$1.59S$1.3516
Apr ’24S$1.71
S$1.77
+3.6%
6.5%S$1.99S$1.59S$1.4816
Mar ’24S$1.69
S$1.76
+4.1%
8.1%S$2.00S$1.56S$1.4616
Feb ’24S$1.71
S$1.77
+3.7%
9.7%S$2.15S$1.55S$1.5216
Jan ’24S$1.59
S$1.77
+11.3%
9.9%S$2.15S$1.50S$1.7416

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 Analysis2025/01/08 18:28
End of Day Share Price 2025/01/08 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

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 here.

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 .

Analyst Sources

Mapletree Logistics Trust is covered by 34 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tricia SongBarclays
Kang Ho ChongBNP Paribas Securities (Asia)
Donald ChuaBofA Global Research