We’ve recently updated our valuation analysis.

Mapletree Logistics Trust Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

M44U 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/Revenue17.1x
Enterprise Value/EBITDA23.4x
PEG Ratio37x

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.
CompanyPEEstimated GrowthMarket Cap
Peer Average11.5x
ME8U Mapletree Industrial Trust
14.5x2.8%S$6.3b
A17U CapitaLand Ascendas REIT
12.1x0.1%S$11.8b
BUOU Frasers Logistics & Commercial Trust
6.4x-38.9%S$4.6b
O5RU AIMS APAC REIT
13x0.9%S$940.6m
M44U Mapletree Logistics Trust
10.8x0.3%S$7.9b

Price-To-Earnings vs Peers: M44U is good value based on its Price-To-Earnings Ratio (10.8x) compared to the peer average (11.5x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a1.2%
n/an/an/a

Price-To-Earnings vs Industry: M44U is good value based on its Price-To-Earnings Ratio (10.8x) compared to the SG REITs industry average (11.4x)


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 Ratio10.8x
Fair PE Ratio11.2x

Price-To-Earnings vs Fair Ratio: M44U is good value based on its Price-To-Earnings Ratio (10.8x) compared to the estimated Fair Price-To-Earnings Ratio (11.2x).


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 (SGD1.69) is trading above our estimate of fair value (SGD0.48)

Significantly Below Fair Value: M44U is trading above our estimate of fair value.


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$1.69
S$1.77
+4.9%
9.7%S$2.15S$1.55n/a16
Jan ’24S$1.59
S$1.77
+11.3%
9.9%S$2.15S$1.50n/a16
Dec ’23S$1.63
S$1.76
+8.0%
10.8%S$2.15S$1.40n/a16
Nov ’23S$1.52
S$1.81
+19.1%
11.9%S$2.15S$1.40n/a16
Oct ’23S$1.56
S$1.91
+22.5%
9.2%S$2.15S$1.60n/a16
Sep ’23S$1.67
S$1.94
+15.9%
9.0%S$2.15S$1.60n/a16
Aug ’23S$1.76
S$1.94
+10.3%
8.8%S$2.15S$1.65n/a16
Jul ’23S$1.69
S$2.00
+18.5%
8.7%S$2.31S$1.65n/a16
Jun ’23S$1.66
S$2.00
+20.2%
9.3%S$2.31S$1.65n/a17
May ’23S$1.79
S$2.03
+13.4%
6.7%S$2.31S$1.80n/a17
Apr ’23S$1.86
S$2.05
+10.0%
8.2%S$2.35S$1.80n/a17
Mar ’23S$1.79
S$2.08
+16.1%
8.7%S$2.35S$1.80n/a17
Feb ’23S$1.69
S$2.09
+23.9%
8.3%S$2.35S$1.80n/a17
Jan ’23S$1.90
S$2.14
+12.9%
7.3%S$2.35S$1.85S$1.5917
Dec ’22S$1.87
S$2.15
+15.1%
7.5%S$2.35S$1.76S$1.6317
Nov ’22S$2.00
S$2.16
+8.0%
7.4%S$2.35S$1.76S$1.5217
Oct ’22S$2.00
S$2.16
+7.9%
7.7%S$2.35S$1.76S$1.5617
Sep ’22S$2.05
S$2.15
+5.0%
7.7%S$2.35S$1.76S$1.6717
Aug ’22S$2.11
S$2.15
+1.7%
7.5%S$2.35S$1.76S$1.7618
Jul ’22S$2.04
S$2.12
+4.1%
8.2%S$2.40S$1.75S$1.6918
Jun ’22S$2.00
S$2.12
+6.2%
8.2%S$2.40S$1.75S$1.6618
May ’22S$1.99
S$2.12
+6.6%
8.1%S$2.40S$1.75S$1.7918
Apr ’22S$1.94
S$2.11
+8.7%
8.5%S$2.40S$1.70S$1.8618
Mar ’22S$1.85
S$2.20
+19.0%
7.8%S$2.40S$1.73S$1.7917
Feb ’22S$1.94
S$2.20
+13.5%
7.8%S$2.40S$1.73S$1.6917
Jan ’22S$2.01
S$2.20
+9.7%
8.5%S$2.40S$1.73S$1.9017

Analyst Forecast: Target price is less than 20% higher than the current share price.


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