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CapitaLand Ascendas REIT (SGX:A17U) Intrinsic Value: Projected FCF : S$3.50 (As of Apr. 27, 2024)


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What is CapitaLand Ascendas REIT Intrinsic Value: Projected FCF?

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.

As of today (2024-04-27), CapitaLand Ascendas REIT's Intrinsic Value: Projected FCF is S$3.50. The stock price of CapitaLand Ascendas REIT is S$2.60. Therefore, CapitaLand Ascendas REIT's Price-to-Intrinsic-Value-Projected-FCF of today is 0.7.

The historical rank and industry rank for CapitaLand Ascendas REIT's Intrinsic Value: Projected FCF or its related term are showing as below:

SGX:A17U' s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 0.74   Med: 0.87   Max: 0.9
Current: 0.74

During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of CapitaLand Ascendas REIT was 0.90. The lowest was 0.74. And the median was 0.87.

SGX:A17U's Price-to-Projected-FCF is ranked worse than
57.38% of 549 companies
in the REITs industry
Industry Median: 0.66 vs SGX:A17U: 0.74

CapitaLand Ascendas REIT Intrinsic Value: Projected FCF Historical Data

The historical data trend for CapitaLand Ascendas REIT's Intrinsic Value: Projected FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

CapitaLand Ascendas REIT Intrinsic Value: Projected FCF Chart

CapitaLand Ascendas REIT Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Dec20 Dec21 Dec22 Dec23
Intrinsic Value: Projected FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.24 3.36 3.30 3.46 3.50

CapitaLand Ascendas REIT Semi-Annual Data
Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
Intrinsic Value: Projected FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.30 - 3.46 - 3.50

Competitive Comparison of CapitaLand Ascendas REIT's Intrinsic Value: Projected FCF

For the REIT - Industrial subindustry, CapitaLand Ascendas REIT's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


CapitaLand Ascendas REIT's Price-to-Projected-FCF Distribution in the REITs Industry

For the REITs industry and Real Estate sector, CapitaLand Ascendas REIT's Price-to-Projected-FCF distribution charts can be found below:

* The bar in red indicates where CapitaLand Ascendas REIT's Price-to-Projected-FCF falls into.



CapitaLand Ascendas REIT Intrinsic Value: Projected FCF Calculation

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.

The details of how we calculate the intrinsic value of stocks are described in detail here.

This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + 0.8 * Total Stockholders Equity (most recent) ) / Shares Outstanding (Diluted Average)

In the case of negative Total Stockholders Equity, the following formula is used (see Explanation section below for the reason):

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + Total Stockholders Equity (most recent) / 0.8 ) / Shares Outstanding (Diluted Average)


Add all the Free Cash Flow together and divide 6 will get CapitaLand Ascendas REIT's Free Cash Flow(6 year avg) = S$730.15.

CapitaLand Ascendas REIT's Intrinsic Value: Projected FCF for today is calculated as

Intrinsic Value: Projected FCF=(Growth Multiple*Free Cash Flow (6 year avg)+Total Stockholders Equity (Dec23)*0.8)/Shares Outstanding (Diluted Average)
=(9.5203515959648*730.148+10220.271*0.8)/4316.899
=3.50

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


CapitaLand Ascendas REIT  (SGX:A17U) Intrinsic Value: Projected FCF Explanation

The growth multiple is capped between 8.35 and 17.74.

Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.

CapitaLand Ascendas REIT's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as

Price-to-Intrinsic-Value-Projected-FCF=Share Price/Intrinsic Value: Projected FCF
=2.60/3.5042474880905
=0.74

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


CapitaLand Ascendas REIT Intrinsic Value: Projected FCF Related Terms

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CapitaLand Ascendas REIT (SGX:A17U) Business Description

Industry
Traded in Other Exchanges
Address
168 Robinson Road, No. 30-01 Capital Tower, Singapore, SGP, 068912
CapitaLand Ascendas REIT is a real estate investment trust focusing on the industrial and business space. As of Dec. 31, 2022, it held a SGD 16.4 billion portfolio of 220 properties across Singapore, Australia, Europe, and the U.S. The property types encompass business and science parks, high-specification industrial properties, data centers, light industrial properties, and logistics and distribution centers. The trust is externally managed by Ascendas Funds Management, a subsidiary of CapitaLand Investment, which owns an 18% stake in the trust.

CapitaLand Ascendas REIT (SGX:A17U) Headlines

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