CAPITALAND CHINA TRUST |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 0.67 SGD | 0.00% |
|
-1.47% | -27.96% |
| Apr. 24 | CapitaLand China Trust Logs Lower Net Property Income, Gross Revenue in Q1 | MT |
| Apr. 24 | Transcript : CapitaLand China Trust, Q1 2024 Earnings Call, Apr 24, 2024 |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,947 | 2,094 | 1,975 | 1,875 | 1,571 | 1,142 | - | - |
| Enterprise Value (EV) 1 | 3,218 | 3,272 | 3,675 | 3,590 | 3,278 | 2,848 | 2,850 | 2,788 |
| P/E ratio | 10.5 x | -145 x | 17.3 x | 15.3 x | 38.8 x | 13.1 x | 11.6 x | 13 x |
| Yield | 6.15% | 4.57% | 7.34% | 6.7% | 7.25% | 9.72% | 10.8% | 10.4% |
| Capitalization / Revenue | 8.17 x | 9.95 x | 5.22 x | 4.89 x | 4.31 x | 3.3 x | 3.08 x | 3.14 x |
| EV / Revenue | 13.5 x | 15.5 x | 9.72 x | 9.37 x | 8.99 x | 8.23 x | 7.7 x | 7.68 x |
| EV / EBITDA | 20 x | 27.6 x | 16 x | 15.5 x | 14.6 x | 13.1 x | 12.8 x | 12.3 x |
| EV / FCF | 30.3 x | 63.6 x | 19.7 x | 25.1 x | 19.4 x | 12.5 x | 15.3 x | 10.7 x |
| FCF Yield | 3.3% | 1.57% | 5.07% | 3.99% | 5.15% | 7.97% | 6.53% | 9.32% |
| Price to Book | 1.04 x | 0.93 x | 0.76 x | 0.81 x | 0.77 x | 0.56 x | 0.55 x | 0.56 x |
| Nbr of stocks (in thousands) | 1,209,067 | 1,506,433 | 1,659,528 | 1,673,893 | 1,688,862 | 1,704,357 | - | - |
| Reference price 2 | 1.610 | 1.390 | 1.190 | 1.120 | 0.9300 | 0.6700 | 0.6700 | 0.6700 |
| Announcement Date | 2/6/20 | 1/28/21 | 1/30/22 | 2/2/23 | 1/29/24 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 238.2 | 210.5 | 378 | 383.2 | 364.7 | 346 | 370.2 | 363.3 |
| EBITDA 1 | 160.7 | 118.6 | 230.3 | 232.3 | 225.1 | 217.4 | 222 | 227 |
| EBIT 1 | 159.6 | 117.7 | 228.9 | 231.1 | 224 | 215.4 | 234.7 | 222.7 |
| Operating Margin | 67.02% | 55.91% | 60.56% | 60.32% | 61.43% | 62.24% | 63.39% | 61.31% |
| Earnings before Tax (EBT) 1 | 241.2 | 28.34 | 189.6 | 242.9 | 125 | 152.6 | 167.1 | 160.3 |
| Net income 1 | 165.4 | -12.64 | 103.3 | 119.6 | 37.45 | 86.51 | 99.35 | 90.05 |
| Net margin | 69.45% | -6% | 27.33% | 31.22% | 10.27% | 25% | 26.84% | 24.79% |
| EPS 2 | 0.1539 | -0.009600 | 0.0686 | 0.0730 | 0.0240 | 0.0511 | 0.0580 | 0.0516 |
| Free Cash Flow 1 | 106.2 | 51.44 | 186.4 | 143.3 | 168.8 | 227 | 186 | 260 |
| FCF margin | 44.57% | 24.43% | 49.31% | 37.4% | 46.29% | 65.6% | 50.25% | 71.57% |
| FCF Conversion (EBITDA) | 66.05% | 43.37% | 80.93% | 61.68% | 75.02% | 104.43% | 83.8% | 114.55% |
| FCF Conversion (Net income) | 64.17% | - | 180.4% | 119.8% | 450.82% | 262.39% | 187.22% | 288.72% |
| Dividend per Share 2 | 0.0990 | 0.0635 | 0.0873 | 0.0750 | 0.0674 | 0.0651 | 0.0721 | 0.0694 |
| Announcement Date | 2/6/20 | 1/28/21 | 1/30/22 | 2/2/23 | 1/29/24 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S2 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 S1 | 2023 S1 |
|---|---|---|---|---|---|---|
| Net sales | 109 | 176.9 | - | - | 199.3 | 184.5 |
| EBITDA | - | - | - | - | - | - |
| EBIT 1 | - | - | 60.07 | 60.07 | - | - |
| Operating Margin | - | - | - | - | - | - |
| Earnings before Tax (EBT) | - | - | - | - | - | - |
| Net income 1 | - | - | 20.98 | 20.98 | - | - |
| Net margin | - | - | - | - | - | - |
| EPS | - | - | 0.0100 | - | - | - |
| Dividend per Share 2 | 0.0333 | 0.0423 | 0.0200 | 0.0180 | 0.0432 | 0.0374 |
| Announcement Date | 1/28/21 | 7/29/21 | 7/25/22 | 1/30/22 | 7/25/22 | 7/26/23 |
1SGD in Million2SGD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,271 | 1,178 | 1,701 | 1,715 | 1,708 | 1,707 | 1,708 | 1,646 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 7.91 x | 9.935 x | 7.386 x | 7.381 x | 7.587 x | 7.851 x | 7.695 x | 7.254 x |
| Free Cash Flow 1 | 106 | 51.4 | 186 | 143 | 169 | 227 | 186 | 260 |
| ROE (net income / shareholders' equity) | 9.65% | 2.48% | 3.9% | 4.7% | 2.41% | 4.12% | 4.58% | 4.25% |
| ROA (Net income/ Total Assets) | 4.87% | 1.29% | 2.09% | 2.21% | 1.07% | 1.89% | 1.88% | 2.01% |
| Assets 1 | 3,394 | -980 | 4,943 | 5,413 | 3,494 | 4,583 | 5,293 | 4,476 |
| Book Value Per Share 2 | 1.550 | 1.490 | 1.560 | 1.380 | 1.210 | 1.190 | 1.220 | 1.210 |
| Cash Flow per Share 2 | 0.1200 | 0.0600 | 0.1400 | 0.1100 | 0.1200 | 0.1000 | 0.1000 | 0.1200 |
| Capex 1 | 21.3 | 27.1 | 27.7 | 38.8 | 37.8 | 19.4 | 19.5 | - |
| Capex / Sales | 8.92% | 12.89% | 7.34% | 10.12% | 10.37% | 5.61% | 5.28% | - |
| Announcement Date | 2/6/20 | 1/28/21 | 1/30/22 | 2/2/23 | 1/29/24 | - | - | - |
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
B+
Sell
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
0.67
SGD
Average target price
0.962
SGD
Spread / Average Target
+43.58%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -27.96% | 838M | |
| -0.20% | 46.38B | |
| -13.75% | 12.39B | |
| -22.69% | 11.06B | |
| -13.01% | 10.74B | |
| -5.43% | 7.45B | |
| -6.66% | 6.54B | |
| -8.23% | 5.8B | |
| -7.60% | 5.6B | |
| -7.00% | 4.67B |
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- Financials CapitaLand China Trust
