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ME8U

Mapletree Industrial Trust SGX:ME8U Stock Report

Last Price

S$2.43

Market Cap

S$6.5b

7D

-0.8%

1Y

-12.9%

Updated

22 May, 2022

Data

Company Financials +
ME8U fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance4/6
Financial Health1/6
Dividends5/6

ME8U Stock Overview

Mapletree Industrial Trust is a real estate investment trust (“REIT”) listed on the Main Board of Singapore Exchange.

Mapletree Industrial Trust Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Mapletree Industrial Trust
Historical stock prices
Current Share PriceS$2.43
52 Week HighS$3.02
52 Week LowS$2.41
Beta0.40
1 Month Change-8.99%
3 Month Change-5.45%
1 Year Change-12.90%
3 Year Change15.71%
5 Year Change35.00%
Change since IPO109.48%

Recent News & Updates

Shareholder Returns

ME8USG REITsSG Market
7D-0.8%0.5%1.4%
1Y-12.9%-2.6%-0.3%

Return vs Industry: ME8U underperformed the SG REITs industry which returned -2.6% over the past year.

Return vs Market: ME8U underperformed the SG Market which returned -0.3% over the past year.

Price Volatility

Is ME8U's price volatile compared to industry and market?
ME8U volatility
ME8U Average Weekly Movement1.7%
REITs Industry Average Movement3.0%
Market Average Movement5.2%
10% most volatile stocks in SG Market12.1%
10% least volatile stocks in SG Market2.5%

Stable Share Price: ME8U is less volatile than 75% of SG stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: ME8U's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2008193Kuo Wei Thamhttps://www.mapletreeindustrialtrust.com

Mapletree Industrial Trust is a real estate investment trust (“REIT”) listed on the Main Board of Singapore Exchange. Its principal investment strategy is to invest in a diversified portfolio of income-producing real estate used primarily for industrial purposes in Singapore and income-producing real estate used primarily as data centres worldwide beyond Singapore, as well as real estate-related assets. As at 30 September 2020, MIT’s total assets under management was S$6.6 billion, which comprised 84 properties in Singapore and 27 properties in North America (including 13 data centres held through the joint venture with Mapletree Investments Pte Ltd).

Mapletree Industrial Trust Fundamentals Summary

How do Mapletree Industrial Trust's earnings and revenue compare to its market cap?
ME8U fundamental statistics
Market CapS$6.51b
Earnings (TTM)S$430.80m
Revenue (TTM)S$610.06m

15.1x

P/E Ratio

10.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ME8U income statement (TTM)
RevenueS$610.06m
Cost of RevenueS$191.64m
Gross ProfitS$418.42m
Other Expenses-S$12.38m
EarningsS$430.80m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.16
Gross Margin68.59%
Net Profit Margin70.62%
Debt/Equity Ratio54.9%

How did ME8U perform over the long term?

See historical performance and comparison

Dividends

5.7%

Current Dividend Yield

63%

Payout Ratio

Valuation

Is Mapletree Industrial Trust undervalued compared to its fair value and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


37.1%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: ME8U (SGD2.43) is trading below our estimate of fair value (SGD3.86)

Significantly Below Fair Value: ME8U is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: ME8U is poor value based on its PE Ratio (15.1x) compared to the SG REITs industry average (13.8x).

PE vs Market: ME8U is poor value based on its PE Ratio (15.1x) compared to the SG market (11.9x).


Price to Earnings Growth Ratio

PEG Ratio: ME8U's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ME8U is overvalued based on its PB Ratio (1.2x) compared to the SG REITs industry average (0.9x).


Future Growth

How is Mapletree Industrial Trust forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-3.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ME8U's earnings are forecast to decline over the next 3 years (-3.1% per year).

Earnings vs Market: ME8U's earnings are forecast to decline over the next 3 years (-3.1% per year).

High Growth Earnings: ME8U's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ME8U's revenue (3.7% per year) is forecast to grow slower than the SG market (7.7% per year).

High Growth Revenue: ME8U's revenue (3.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ME8U's Return on Equity is forecast to be low in 3 years time (7.5%).


Past Performance

How has Mapletree Industrial Trust performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


0.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ME8U has a large one-off gain of SGD89.7M impacting its March 31 2022 financial results.

Growing Profit Margin: ME8U's current net profit margins (70.6%) are higher than last year (36.8%).


Past Earnings Growth Analysis

Earnings Trend: ME8U's earnings have grown by 0.2% per year over the past 5 years.

Accelerating Growth: ME8U's earnings growth over the past year (161.9%) exceeds its 5-year average (0.2% per year).

Earnings vs Industry: ME8U earnings growth over the past year (161.9%) exceeded the REITs industry 101.1%.


Return on Equity

High ROE: ME8U's Return on Equity (8.3%) is considered low.


Financial Health

How is Mapletree Industrial Trust's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ME8U's short term assets (SGD193.1M) do not cover its short term liabilities (SGD535.2M).

Long Term Liabilities: ME8U's short term assets (SGD193.1M) do not cover its long term liabilities (SGD2.7B).


Debt to Equity History and Analysis

Debt Level: ME8U's net debt to equity ratio (52%) is considered high.

Reducing Debt: ME8U's debt to equity ratio has increased from 43.9% to 54.9% over the past 5 years.

Debt Coverage: ME8U's debt is not well covered by operating cash flow (17.2%).

Interest Coverage: ME8U's interest payments on its debt are well covered by EBIT (5.9x coverage).


Balance Sheet


Dividend

What is Mapletree Industrial Trust current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


5.68%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: ME8U's dividend (5.68%) is higher than the bottom 25% of dividend payers in the SG market (2.22%).

High Dividend: ME8U's dividend (5.68%) is low compared to the top 25% of dividend payers in the SG market (5.95%).


Stability and Growth of Payments

Stable Dividend: ME8U's dividends per share have been stable in the past 10 years.

Growing Dividend: ME8U's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (62.5%), ME8U's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (74.3%), ME8U's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

6.3yrs

Average management tenure


CEO

Kuo Wei Tham (52 yo)

no data

Tenure

Mr. Kuo Wei Tham serves as the Chief Executive Officer of Mapletree Industrial Trust Management Ltd. and has been its Executive Director since July 23, 2010. Mr. Tham served as the Chief Investment Officer...


Leadership Team

Experienced Management: ME8U's management team is seasoned and experienced (6.3 years average tenure).


Board Members

Experienced Board: ME8U's board of directors are considered experienced (3.4 years average tenure).


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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 13.8%.


Top Shareholders

Company Information

Mapletree Industrial Trust's employee growth, exchange listings and data sources


Key Information

  • Name: Mapletree Industrial Trust
  • Ticker: ME8U
  • Exchange: SGX
  • Founded: 2008
  • Industry: Industrial REITs
  • Sector: Real Estate
  • Implied Market Cap: S$6.505b
  • Shares outstanding: 2.68b
  • Website: https://www.mapletreeindustrialtrust.com

Number of Employees


Location

  • Mapletree Industrial Trust
  • 10 Pasir Panjang Road
  • No.13-01, Mapletree Business City
  • Singapore
  • 117438
  • Singapore

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/22 00:00
End of Day Share Price2022/05/20 00:00
Earnings2022/03/31
Annual Earnings2022/03/31


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.