A17U Stock Analysis: Ascendas Real Estate | SG
REIT - Industrial | SG, Singapore | Market Cap: 12.688m SGD | 12M Return: -2.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 52.0M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: under 40 is mostly noise, over 50 gets interesting, and over 70 is strong.
CapitaLand Ascendas REIT (CLAR), listed on the Singapore Exchange under ticker A17U, is Singapores first and largest listed business space and industrial REIT, having been listed in November 2002. It has grown into a global REIT anchored in Singapore, with a focus on technology and logistics properties across developed markets including Singapore, Australia, the US, and the UK/Europe.
As of 31 December 2025, CLARs investment properties under management were valued at USD 18.2 billion, comprising 226 properties across three segments: Business Space & Life Sciences, Industrial & Data Centres, and Logistics. The REIT serves 1,731 international and local tenants across diverse industries, with major tenants including Sea Group, DSO National Laboratories, Stripe, Singtel, DHL, Seagate Singapore, DBS Bank, and Citibank.
As an industrial REIT, CLAR operates under the standard REIT business model, owning and operating income-producing real estate and distributing the majority of its taxable income as dividends to unitholders. Its diversification across multiple geographies, property segments, and tenant industries is a structural approach commonly used by large REITs to mitigate concentration risk and stabilize cash flows across economic cycles.
- Data centre segment expansion drives rental income growth
- Rising interest rates pressure distribution per unit yields
- Singapore industrial property demand supports occupancy
| Net Income: 779.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.21 > 1.0 |
| NWC/Revenue: -130.5% < 20% (prev -76.84%; Δ -53.69% < -1%) |
| CFO/TA 0.05 > 3% & CFO 1.07b > Net Income 779.7m |
| Net Debt (395.3m) to EBITDA (868.3m): 0.46 < 3 |
| Current Ratio: 0.16 > 1.5 & < 3 |
| Outstanding Shares: last quarter (4.61b) vs 12m ago 4.97% < -2% |
| Gross Margin: 69.39% > 18% (prev 68.94%; Δ 0.45% > 0.5%) |
| Asset Turnover: 8.08% > 50% (prev 8.34%; Δ -0.25% > 0%) |
| Interest Coverage Ratio: 3.23 > 6 (EBIT TTM 868.3m / Interest Expense TTM 268.9m) |
| DSRI: 0.95 (Receivables 28.9m/30.3m, Revenue 1.54b/1.52b) |
| GMI: 0.99 (GM 68.94% / 69.39%) |
| AQI: 1.00 (AQ_t 0.95 / AQ_t-1 0.95) |
| SGI: 1.01 (Revenue 1.54b / 1.52b) |
| TATA: -0.01 (NI 779.7m - CFO 1.07b) / TA 19.8b) |
| Beneish M = -3.07 (Cap -4..+1) = AA |
As of July 02, 2026, the stock is trading at SGD 2.49 with a total of 19,968,200 shares traded. Over the past week, the price has changed by -1.19%, over one month by -0.40%, over three months by -1.19% and over the past year by -2.18%.
Current recommended Stop Loss: 2.40 (which is 3.6% or 2.3 ATR below the current price).
Ascendas Real Estate has no consensus analysts rating.
P/E Trailing = 14.9412
P/E Forward = 16.8634
P/S = 13.6684
P/B = 1.1645
P/EG = 51.1111
Revenue TTM = 1.54b SGD
EBIT TTM = 868.3m SGD
EBITDA TTM = 868.3m SGD
Long Term Debt = 5.61b SGD (from longTermDebt, last quarter)
Short Term Debt = 1.71b SGD (from shortLongTermDebt, last quarter)
Debt = 604.8m SGD (Leases only: 604.8m)
Net Debt = 395.3m SGD (calculated: Debt 604.8m - CCE 209.4m)
Enterprise Value = 13.1b SGD (12.7b + Debt 604.8m - CCE 209.4m)
Interest Coverage Ratio = 3.23 (Ebit TTM 868.3m / Interest Expense TTM 268.9m)
EV/FCF = 12.24x (Enterprise Value 13.1b / FCF TTM 1.07b)
FCF Yield = 8.17% (FCF TTM 1.07b / Enterprise Value 13.1b)
FCF Margin = 69.47% (FCF TTM 1.07b / Revenue TTM 1.54b)
Net Margin = 50.68% (Net Income TTM 779.7m / Revenue TTM 1.54b)
Gross Margin = 69.39% ((Revenue TTM 1.54b - Cost of Revenue TTM 471.0m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.66 (Enterprise Value 13.1b / Total Assets 19.8b)
Interest Expense / Debt = 44.46% (Interest Expense 268.9m / Debt 604.8m)
Taxrate = 6.68% (55.8m / 835.5m)
NOPAT = 810.3m (EBIT 868.3m * (1 - 6.68%))
Current Ratio = 0.16 (Total Current Assets 386.1m / Total Current Liabilities 2.39b)
Debt / Equity = 0.06 (Debt 604.8m / totalStockholderEquity, last quarter 10.9b)
Debt / EBITDA = 0.46 (Net Debt 395.3m / EBITDA 868.3m)
Debt / FCF = 0.37 (Net Debt 395.3m / FCF TTM 1.07b)
Total Stockholder Equity = 10.5b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.10% (Net Income 779.7m / Total Assets 19.8b)
RoE = 7.46% (Net Income TTM 779.7m / Total Stockholder Equity 10.5b)
RoCE = 5.41% (EBIT 868.3m / Capital Employed (Equity 10.5b + L.T.Debt 5.61b))
RoIC = 4.68% (NOPAT 810.3m / Invested Capital 17.3b)
WACC = 8.02% (E(12.7b)/V(13.3b) * Re(6.42%) + D(604.8m)/V(13.3b) * Rd(44.46%) * (1-Tc(0.07)))
Discount Rate = 6.42% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 15.37%
[DCF] Terminal Value 77.62% ; FCFF base≈1.02b ; Y1≈1.15b ; Y5≈1.61b
[DCF] Fair Price = 4.79 (EV 24.3b - Net Debt 395.3m = Equity 23.9b / Shares 5.00b; r=8.35% [WACC [floored]]; 5y FCF grow 12.77% → 2.50% )
Revenue Correlation: 96.38 | Revenue CAGR: 1.97% | SUE: -0.01 | # QB: 0
EPS current Year (2026-12-31): EPS=0.15 | Chg30d=-1.03% | Revisions=-43% | GrowthEPS=+1.6% | GrowthRev=+7.4%
EPS next Year (2027-12-31): EPS=0.16 | Chg30d=-0.92% | Revisions=-14% | GrowthEPS=+4.5% | GrowthRev=+5.3%
[Analyst] Revisions Ratio: -43%