Financials Mapletree Pan Asia Commercial Trust Deutsche Boerse AG

Equities

BI0

SG2D18969584

Commercial REITs

Delayed Deutsche Boerse AG 02:10:25 2024-07-09 am EDT 5-day change 1st Jan Change
0.8132 EUR -0.11% Intraday chart for Mapletree Pan Asia Commercial Trust -0.36% -21.91%

Valuation

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 6,053 7,030 6,281 9,431 6,724 6,414 - -
Enterprise Value (EV) 1 8,995 9,867 9,162 15,998 6,724 12,864 12,880 12,874
P/E ratio 10.3 x 102 x 18.1 x 17.2 x 11.6 x 15 x 13.9 x 12.6 x
Yield 4.37% 4.48% 5.04% 5.34% - 7.03% 7.32% 7.53%
Capitalization / Revenue 12.5 x 14.7 x 12.6 x 11.4 x 7.02 x 6.7 x 6.58 x 6.41 x
EV / Revenue 18.6 x 20.6 x 18.3 x 19.4 x 7.02 x 13.4 x 13.2 x 12.9 x
EV / EBITDA 27 x 28.5 x 26.2 x 26.9 x 8.11 x 18.7 x 18.3 x 17.8 x
EV / FCF 25.5 x 27.8 x 25.2 x 26.5 x - 17.1 x 17 x 15.8 x
FCF Yield 3.93% 3.6% 3.97% 3.78% - 5.84% 5.9% 6.33%
Price to Book 1.05 x 1.23 x 1.09 x 1.02 x - 0.69 x 0.69 x 0.69 x
Nbr of stocks (in thousands) 3,307,511 3,316,204 3,323,514 5,239,332 5,252,985 5,257,046 - -
Reference price 2 1.830 2.120 1.890 1.800 1.280 1.220 1.220 1.220
Announcement Date 4/22/20 4/27/21 4/20/22 4/27/23 4/23/24 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 482.8 479 499.5 826.2 958.1 956.6 975.1 1,001
EBITDA 1 332.7 346.1 349.2 595.1 829.1 688.3 701.9 722.5
EBIT 1 332.6 345.9 349 594.2 828 683.9 696.4 715.7
Operating Margin 68.89% 72.22% 69.88% 71.93% 86.43% 71.5% 71.42% 71.5%
Earnings before Tax (EBT) 1 543.1 68.61 347 485 602.6 438.3 471.6 494
Net income 1 543.1 68.61 347 482.6 577.9 433.5 448.5 478.3
Net margin 112.48% 14.32% 69.48% 58.41% 60.32% 45.32% 46% 47.78%
EPS 2 0.1774 0.0207 0.1045 0.1045 0.1102 0.0816 0.0877 0.0966
Free Cash Flow 1 353.1 355.4 363.6 604.8 - 750.7 759.8 815
FCF margin 73.14% 74.19% 72.79% 73.21% - 78.47% 77.92% 81.42%
FCF Conversion (EBITDA) 106.15% 102.69% 104.13% 101.64% - 109.06% 108.24% 112.8%
FCF Conversion (Net income) 65.02% 517.96% 104.77% 125.33% - 173.15% 169.4% 170.4%
Dividend per Share 2 0.0800 0.0949 0.0953 0.0961 - 0.0857 0.0894 0.0918
Announcement Date 4/22/20 4/27/21 4/20/22 4/27/23 4/23/24 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 Q3 2023 S2 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 218.7 260.3 243.7 255.8 353.2 - 233.3 237.1 240.2 241.6 239.2 240.5 240.5 240.5 240.5
EBITDA - - - - - - - - - - - - - - -
EBIT 1 - - 170.1 178.9 263 - 331.2 - 171.3 169.6 314.8 171.3 171.3 171.3 171.3
Operating Margin - - 69.79% 69.96% 74.48% - 141.99% - 71.31% 70.19% 131.58% 71.22% 71.22% 71.22% 71.22%
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income - - - - - 110.9 - - - - - - - - -
Net margin - - - - - - - - - - - - - - -
EPS - - - - - 0.0209 - - - - - - - - -
Dividend per Share - 0.0483 0.0439 0.0514 0.0494 - - 0.0218 0.0224 - - - - - -
Announcement Date - 4/27/21 10/27/21 4/20/22 10/27/22 1/31/23 4/27/23 7/31/23 10/26/23 1/29/24 4/23/24 - - - -
1SGD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 2,942 2,837 2,880 6,568 - 6,451 6,466 6,460
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 8.844 x 8.198 x 8.249 x 11.04 x - 9.371 x 9.212 x 8.942 x
Free Cash Flow 1 353 355 364 605 - 751 760 815
ROE (net income / shareholders' equity) 5.07% 4.54% 6.03% 6.32% - 4.67% 4.8% 4.97%
ROA (Net income/ Total Assets) 3.87% 2.91% 3.87% 3.74% - 2.61% 2.67% 2.84%
Assets 1 14,039 2,360 8,968 12,907 - 16,627 16,780 16,855
Book Value Per Share 2 1.750 1.720 1.740 1.760 - 1.760 1.770 1.780
Cash Flow per Share 2 0.1200 0.1100 0.1100 0.1300 - 0.1300 0.1300 0.1400
Capex 1 17.3 14.4 18.7 43.6 - 31.2 34.2 37.5
Capex / Sales 3.58% 3.01% 3.75% 5.27% - 3.26% 3.5% 3.74%
Announcement Date 4/22/20 4/27/21 4/20/22 4/27/23 4/23/24 - - -
1SGD in Million2SGD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
1.22 SGD
Average target price
1.507 SGD
Spread / Average Target
+23.50%
Consensus

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Equities
  3. N2IU Stock
  4. BI0 Stock
  5. Financials Mapletree Pan Asia Commercial Trust