J69U Stock Analysis: Frasers Centrepoint Trust | SG
REIT - Retail | SG, Singapore | Market Cap: 4.446m SGD | 12M Return: -0.1% | SG1T60930966 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 12.3M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Frasers Centrepoint Trust (J69U) is a Singapore-listed retail real estate investment trust and one of the largest owners of suburban retail malls in the country. With assets under management of approximately S$6.5 billion, its portfolio comprises nine retail malls and one office property, all located in Singapores suburban residential catchments near public transport. The retail assets span roughly 2.9 million square feet of net lettable area across more than 1,600 leases, with a tenant mix weighted toward necessity spending, food and beverage, and essential services. Key properties include Causeway Point, NEX (25.5% effective interest), Tampines 1, Tiong Bahru Plaza, and Waterway Point (50.0% interest), with Central Plaza held as the office component.
As a Singapore REIT (S-REIT), FCT operates under a tax-transparent structure that generally requires distribution of at least 90% of taxable income to unitholders, supporting its focus on stable, recurring cash flows. The trust has been listed on the Main Board of the Singapore Exchange since 5 July 2006 and is a constituent of major benchmarks including the Straits Times Index, FTSE EPRA/NAREIT Global Developed Index, and SGX iEdge S-REIT Leaders Index.
FCT is externally managed by Frasers Centrepoint Asset Management Ltd (FCAM), a wholly owned subsidiary of Frasers Property Limited, giving it a developer-sponsor pipeline for potential asset acquisitions. Footfall across its malls is supported by surrounding residential populations and commuter traffic, reflecting a defensive, non-discretionary retail positioning.
- Singapore suburban retail sales recovery boosts tenant rentals
- Interest rate cuts lower REIT borrowing costs
- Sponsor pipeline acquisitions from Frasers Property expand portfolio
| Net Income: 197.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -1.41 > 1.0 |
| NWC/Revenue: -16.28% < 20% (prev -139.0%; Δ 122.7% < -1%) |
| CFO/TA 0.03 > 3% & CFO 215.7m > Net Income 197.5m |
| Net Debt/EBITDA: error (cannot be calculated) |
| Current Ratio: 0.74 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.04b) vs 12m ago 12.42% < -2% |
| Gross Margin: 61.21% > 18% (prev 61.92%; Δ -0.71% > 0.5%) |
| Asset Turnover: 5.01% > 50% (prev 5.80%; Δ -0.79% > 0%) |
| Interest Coverage Ratio: 3.15 > 6 (EBIT TTM 254.3m / Interest Expense TTM 80.8m) |
| DSRI: 1.79 (Receivables 14.2m/8.33m, Revenue 351.7m/369.7m) |
| GMI: 1.01 (GM 61.92% / 61.21%) |
| AQI: 0.98 (AQ_t 0.98 / AQ_t-1 0.99) |
| SGI: 0.95 (Revenue 351.7m / 369.7m) |
| TATA: -0.00 (NI 197.5m - CFO 215.7m) / TA 7.67b) |
| Beneish M = -2.41 (Cap -4..+1) = BBB |
As of August 27, 2026, the stock is trading at SGD 2.18 with a total of 3,721,400 shares traded. Over the past week, the price has changed by +0.46%, over one month by -3.54%, over three months by -3.54% and over the past year by -0.11%.
Current recommended Stop Loss: 2.10 (which is 3.7% or 2.7 ATR below the current price).
Frasers Centrepoint Trust has no consensus analysts rating.
P/E Trailing = 19.8182
P/E Forward = 18.0832
P/S = 8.9119
P/B = 0.925
P/EG = 3.6905
Revenue TTM = 351.7m SGD
EBIT TTM = 254.3m SGD
EBITDA TTM = 254.3m SGD
Long Term Debt = 2.56b SGD (from longTermDebt, last quarter)
Short Term Debt = 102.9m SGD (from shortLongTermDebt, last quarter)
Debt = unknown
Net Debt = unknown
Enterprise Value = 4.30b SGD (4.45b + (null Debt) - CCE 150.2m)
Interest Coverage Ratio = 3.15 (Ebit TTM 254.3m / Interest Expense TTM 80.8m)
EV/FCF = 24.68x (Enterprise Value 4.30b / FCF TTM 174.0m)
FCF Yield = 4.05% (FCF TTM 174.0m / Enterprise Value 4.30b)
FCF Margin = 49.47% (FCF TTM 174.0m / Revenue TTM 351.7m)
Net Margin = 56.16% (Net Income TTM 197.5m / Revenue TTM 351.7m)
Gross Margin = 61.21% ((Revenue TTM 351.7m - Cost of Revenue TTM 136.4m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.56 (Enterprise Value 4.30b / Total Assets 7.67b)
Interest Expense / Debt = unknown (Interest Expense 80.8m / Debt none)
Taxrate = 25.0% (non-US conservative default 25%)
NOPAT = 190.7m (EBIT 254.3m * (1 - 25.00%))
Current Ratio = 0.74 (Total Current Assets 164.4m / Total Current Liabilities 221.6m)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 254.3m)
Debt / FCF = unknown (Net Debt none / FCF TTM 174.0m)
Total Stockholder Equity = 4.30b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.81% (Net Income 197.5m / Total Assets 7.67b)
RoE = 4.59% (Net Income TTM 197.5m / Total Stockholder Equity 4.30b)
RoCE = 3.71% (EBIT 254.3m / Capital Employed (Equity 4.30b + L.T.Debt 2.56b))
RoIC = 2.57% (NOPAT 190.7m / Invested Capital 7.43b)
WACC = 5.43% (E(4.45b)/V(4.45b) * Re(5.43%) + (debt-free company))
Discount Rate = 5.43% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 83.77 | Cagr: 23.80%
[DCF] Terminal Value 73.10% ; FCFF base≈198.3m ; Y1≈173.9m ; Y5≈140.5m
[DCF] Fair Price = 1.11 (EV 2.26b - Net Debt 0.0 = Equity 2.26b / Shares 2.04b; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
Revenue Correlation: -28.61 | Revenue CAGR: -0.73% | SUE: N/A | # QB: 0
EPS current Year (2026-09-30): EPS=0.12 | Chg30d=-2.23% | Revisions=+0% | GrowthEPS=+8.1% | GrowthRev=+10.6%
EPS next Year (2027-09-30): EPS=0.12 | Chg30d=-0.34% | Revisions=-40% | GrowthEPS=-0.3% | GrowthRev=-1.5%
[Analyst] Revisions Ratio: -29% (up=1, down=3)