ESR-REIT (9A4U) AI Stock Analysis

• Market Cap: S$1.86B
• Dividend Yield: 7.91%
• Average Volume (3M): 897.06K
• Price to Earnings (P/E): 68.8
• Beta (1Y): 0.67
• Revenue Growth: 10.51%
• EPS Growth: -40.93%
• Country: SG
• Employees: 83
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): -1.13
• Shares Outstanding: 806,451,200
• 10 Day Avg. Volume: 792,330
• 30 Day Avg. Volume: 897,061
• PEG Ratio: -0.55
• Price to Book (P/B): 1.06
• Price to Sales (P/S): 4.80
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: S$3.43
• Price Target Upside: 44.12% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.2
• Revenue Forecast (FY): S$426.16M

• Rating: 46 Neutral
• Price Target: S$2.50 ▲(5.04% Upside)
• Action: Reiterated Date: 02/05/26
• Date: Action: Reiterated 02/05/26

The score is primarily constrained by weaker fundamentals—rising leverage and a 2025 free-cash-flow drop to zero—despite improving revenue and a return to profitability. Technicals are broadly neutral, while valuation is pressured by an extremely high P/E despite a strong dividend yield.

Positive Factors

Industrial & logistics portfolio focus

A concentrated industrial/logistics portfolio aligns with structural demand from e-commerce and supply-chain reshoring. Long-leased warehouse assets typically deliver durable, contracted rental cash flows and higher occupancy stickiness, supporting predictable income over the next 2–6 months.

Negative Factors

Materially higher leverage

A near-doubling of debt-to-equity sharply reduces financial flexibility and raises refinancing and interest-rate sensitivity. Elevated leverage increases default and covenant risk and constrains capital deployment or acquisitions over the coming months absent deleveraging.

ESR-REIT Business Overview & Revenue Model

Company Description

ESR-REIT is a leading New Economy and future-ready Asia Pacific S-REIT. Listed on the Singapore Exchange Securities Trading Limited since 25 July 2006, ESR-REIT invests in quality income-producing industrial properties in key gateway markets. As a...

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ESR-REIT is a leading New Economy and future-ready Asia Pacific S-REIT. Listed on the Singapore Exchange Securities Trading Limited since 25 July 2006, ESR-REIT invests in quality income-producing industrial properties in key gateway markets. As a...

How the Company Makes Money

ESR-REIT makes money primarily by leasing space in its industrial and logistics properties to tenants and collecting recurring rental income. This rental income (contracted base rent and, where applicable, recoveries/charges billed to tenants) for...

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ESR-REIT makes money primarily by leasing space in its industrial and logistics properties to tenants and collecting recurring rental income. This rental income (contracted base rent and, where applicable, recoveries/charges billed to tenants) for...

ESR-REIT Financial Statement Overview

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	415.84M	453.89M	370.50M	386.35M	348.57M	248.99M
Gross Profit	281.48M	312.61M	261.65M	251.24M	228.38M	173.26M
EBITDA	0.00	302.85M	8.56M	244.89M	217.87M	155.65M
Net Income	-86.03M	31.66M	-127.78M	-67.45M	-278.26M	101.52M
Balance Sheet
Total Assets	5.91B	5.86B	6.01B	5.11B	5.65B	3.33B
Cash, Cash Equivalents and Short-Term Investments	67.69M	60.29M	83.94M	41.98M	45.58M	24.15M
Total Debt	2.81B	3.84B	2.86B	2.15B	2.61B	1.41B
Total Liabilities	3.25B	3.28B	3.33B	2.34B	2.81B	1.58B
Stockholders Equity	2.59B	2.06B	2.62B	2.77B	2.75B	1.75B
Cash Flow
Free Cash Flow	315.09M	0.00	243.43M	167.27M	95.06M	124.29M
Operating Cash Flow	315.09M	199.08M	269.62M	260.08M	193.63M	152.77M
Investing Cash Flow	-486.99M	-38.31M	-436.95M	360.85M	-267.02M	-149.34M
Financing Cash Flow	182.43M	-183.03M	200.41M	-626.33M	93.14M	2.62M

ESR-REIT Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.38
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:9A4U, the sentiment is Negative. The current price of 2.38 is above the 20-day moving average (MA) of 2.33, below the 50-day MA of 2.45, and below the 200-day MA of 2.56, indicating a bearish trend. The MACD of -0.05 indicates Negative momentum. The RSI at 42.13 is Neutral, neither overbought nor oversold. The STOCH value of 63.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:9A4U.

ESR-REIT Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BUOU	71 Outperform	S$3.40B	17.46	4.77%	6.04%	2.01%	38.17%
A17U	67 Neutral	S$11.85B	16.40	7.40%	5.43%	2.35%	365.31%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
ME8U	64 Neutral	S$5.57B	16.12	6.73%	6.51%	-1.96%	175.59%
DHLU	60 Neutral	S$350.37M	11.08	7.30%	8.04%	-5.80%	-27.16%
M44U	54 Neutral	S$5.98B	41.02	2.73%	5.83%	-1.81%	-18.43%
9A4U	46 Neutral	S$1.86B	68.78	-4.88%	7.91%	10.51%	-40.93%

ESR-REIT Corporate Events