(J69U) Frasers Centrepoint Trust - SG
Sector: Real Estate | Industry: REIT - Retail | Exchange: SG (Singapore) | Market Cap: 4.626m SGD | Total Return: 8.2% in 12m
Avg Turnover: 9.79M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Frasers Centrepoint Trust (J69U) is a Singapore-based real estate investment trust specializing in suburban retail properties. The portfolio includes nine retail malls and one office building, totaling approximately 2.9 million square feet of net lettable area. These assets are strategically positioned near residential hubs and transportation nodes to capture consistent commuter and local shopper traffic.
The business model focuses on necessity spending, which includes essential services and food and beverage tenants. This strategy provides defensive cash flows, as suburban malls typically experience more resilient footfall compared to discretionary-heavy downtown shopping districts during economic downturns. As a developer-sponsored REIT, the trust benefits from the pipeline and management expertise of its parent, Frasers Property Limited.
The trust is a constituent of major indices, including the Straits Times Index and the FTSE EPRA/NAREIT Global Real Estate Index Series. Investors looking for deeper valuation metrics may find ValueRay helpful for further analysis. Listed on the SGX since 2006, the trust maintains a diversified tenant base of over 1,600 leases to mitigate concentration risk.
- Suburban retail demand drives positive rental reversions and high occupancy
- Elevated interest rates pressure distribution per unit and financing costs
- Strategic acquisitions of dominant suburban malls expand assets under management
- Resilient necessity spending supports stable shopper traffic and tenant sales
| 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 June 19, 2026, the stock is trading at SGD 2.24 with a total of 4,808,700 shares traded.
Over the past week, the price has changed by +0.44%,
over one month by +2.71%,
over three months by +4.14% and
over the past year by +8.24%.
Frasers Centrepoint Trust has no consensus analysts rating.
P/E Trailing = 20.6364
P/E Forward = 18.315
P/S = 9.2731
P/B = 0.9669
P/EG = 3.9369
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 = 4.48b SGD (4.63b + (null Debt) - CCE 150.2m)
Interest Coverage Ratio = 3.15 (Ebit TTM 254.3m / Interest Expense TTM 80.8m)
EV/FCF = 25.72x (Enterprise Value 4.48b / FCF TTM 174.0m)
FCF Yield = 3.89% (FCF TTM 174.0m / Enterprise Value 4.48b)
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 = 0.58 (Enterprise Value 4.48b / 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 = 5.69% (E(4.63b)/V(4.63b) * Re(5.69%) + (debt-free company))
Discount Rate = 5.69% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | 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=-2.61% | Revisions=+43% | GrowthEPS=+12.3% | GrowthRev=+10.0%
EPS next Year (2027-09-30): EPS=0.13 | Chg30d=-0.70% | Revisions=+33% | GrowthEPS=+3.2% | GrowthRev=+2.5%
[Analyst] Revisions Ratio: +43%