Mapletree Pan Asia Commercial Trust

OTCPK:MPCM.F Stock Report

Market Cap: US$4.8b

Mapletree Pan Asia Commercial Trust Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: MPCM.F ($1) is trading above our estimate of fair value ($0.95)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MPCM.F?

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

The above table shows the Price to Earnings ratio for MPCM.F. This is calculated by dividing MPCM.F's market cap by their current earnings.
What is MPCM.F's PE Ratio?
PE Ratio14x
EarningsS$458.09m
Market CapS$6.42b

Price to Earnings Ratio vs Peers

How does MPCM.F's PE Ratio compare to its peers?

The above table shows the PE ratio for MPCM.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average48.3x
SRC Spirit Realty Capital
24.1x-8.7%US$6.0b
PECO Phillips Edison
83x16.3%US$5.4b
SKT Tanger
42.6x1.8%US$4.2b
ADC Agree Realty
43.4x9.3%US$7.9b
MPCM.F Mapletree Pan Asia Commercial Trust
14x3.1%US$6.4b

Price-To-Earnings vs Peers: MPCM.F is good value based on its Price-To-Earnings Ratio (14x) compared to the peer average (48.3x).

Price to Earnings Ratio vs Industry

How does MPCM.F's PE Ratio compare vs other companies in the US Retail REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SITC SITE Centers
1.2x-118.9%US$844.13m
RVIC Retail Value
0.2xn/aUS$5.72m
No more companies available in this PE range
MPCM.F 14.0xIndustry Avg. 34.9xNo. of Companies6PE020406080100+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MPCM.F is good value based on its Price-To-Earnings Ratio (14x) compared to the US Retail REITs industry average (34.9x).

Price to Earnings Ratio vs Fair Ratio

What is MPCM.F'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.

MPCM.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MPCM.F's Price-To-Earnings Fair Ratio for valuation analysis.

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 MPCM.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
US$1.15
0%
9.9%US$1.36US$0.97n/a13
Nov ’25US$1.08
US$1.15
+6.6%
9.9%US$1.36US$0.97n/a13
Oct ’25n/a
US$1.21
0%
9.1%US$1.36US$1.01n/a13
Sep ’25n/a
US$1.14
0%
9.3%US$1.34US$0.99n/a12
Aug ’25n/a
US$1.12
0%
9.3%US$1.31US$0.97n/a12
Jul ’25n/a
US$1.13
0%
11.8%US$1.41US$0.96n/a12
Jun ’25n/a
US$1.14
0%
12.0%US$1.40US$0.96n/a12
May ’25n/a
US$1.14
0%
11.4%US$1.39US$0.95n/a12
Apr ’25n/a
US$1.21
0%
10.3%US$1.49US$1.00n/a13
Mar ’25US$0.98
US$1.21
+23.6%
10.3%US$1.49US$1.00n/a13
Feb ’25US$0.97
US$1.22
+25.8%
10.0%US$1.49US$1.01n/a14
Jan ’25n/a
US$1.19
0%
11.0%US$1.49US$0.93n/a14
Dec ’24US$1.16
US$1.18
+2.0%
11.8%US$1.50US$0.94n/a14
Nov ’24n/a
US$1.18
0%
12.2%US$1.47US$0.92US$1.0814
Oct ’24n/a
US$1.29
0%
6.3%US$1.46US$1.14n/a14
Sep ’24n/a
US$1.34
0%
6.8%US$1.51US$1.18n/a15
Aug ’24US$1.21
US$1.39
+14.9%
6.0%US$1.53US$1.27n/a15
Jul ’24US$1.19
US$1.42
+19.1%
5.1%US$1.53US$1.27n/a15
Jun ’24n/a
US$1.42
0%
5.1%US$1.53US$1.27n/a15
May ’24n/a
US$1.40
0%
6.8%US$1.53US$1.17n/a15
Apr ’24US$1.69
US$1.40
-17.1%
7.9%US$1.56US$1.18n/a15
Mar ’24n/a
US$1.39
0%
9.1%US$1.57US$1.13US$0.9816
Feb ’24n/a
US$1.42
0%
10.2%US$1.72US$1.15US$0.9716
Jan ’24n/a
US$1.37
0%
9.8%US$1.66US$1.10n/a16
Dec ’23n/a
US$1.34
0%
8.3%US$1.49US$1.09US$1.1614
Nov ’23n/a
US$1.34
0%
9.7%US$1.63US$1.06n/a13

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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