CapitaLand Investment Limited (SG:9CI)
SGX:9CI
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Earnings Data
Report Date
Apr 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.03Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a broadly constructive operational and strategic story: core operating metrics improved (operating PATMI +6%, fee growth +6%, operating cash flow >$900m), fundraising and private fund momentum were strong (private funds +24%, $4.9bn raised), and the group has a healthy balance sheet (debt/equity ~0.43x) providing headroom for disciplined M&A and platform investments. Key challenges center on China-related valuation declines and realized divestment discounts (notably portfolio gains down 80% and China revals down ~$545m), and margin pressure from deliberate near-term investments into growth areas (private funds, lodging). Management provided clear strategic actions (C-REITs, China-for-China funds, platform building, digital/AI efficiency targets) to address the China exposure and to pivot toward fee-based, asset-light growth. On balance, the positives around fundraising, recurring fee growth, cash generation and platform scale outweigh the near-term valuation and China-related headwinds.Company Guidance
Funds Under Management Growth
FUM increased by about $7–8 billion, representing ~7% growth year-on-year; management highlighted this alongside strong fundraising momentum (described as their best fundraising year, almost double the prior year).
Fundraising and Private Funds Momentum
Total private equity fundraising/third-party equity of $4.9 billion in the year; private funds top-line growth up 24% year-on-year; CLARA II (USD 600m) over 50% deployed and a second fund planned; plans for multiple regional flagship products (~$500m third-party equity each) and strong pipeline for ACP II/III and other themed funds.
Core Operating Performance Improvement
Operating PATMI (core operating performance) was $539 million, up 6% year-on-year; fee growth also up 6%; management views mid-single-digit operating PATMI growth as a sustainable run rate absent major catalysts.
Listed Funds and REIT Performance
Listed funds operating performance up 8%; key Singapore REITs generated strong shareholder returns (c.15% to nearly 30% for some S-REITs); addition from Japan Hotel REIT via SC Capital acquisition contributed to growth; REIT portfolios had active portfolio reconstitution and DPU focus.
Record Lodging Signings and Fee Income Growth
Record signings of ~19,000 keys in the year; lodging fee income grew from roughly $150 million in 2020 to about $350 million now (5-year CAGR ~15%); signed-but-not-open pipeline pushes the group past their $500 million recurring fee target when included.
Commercial Management and Operational Efficiency
Commercial management revenue broadly stable (flat y/y) but margins and operating profits improved due to optimization and cost programs; commercial management contributes >$100 million EBITDA and is viewed as a steady, resilient fee income stream.
Balance Sheet and Cash Flow Strength
Operating cash flow remained strong at >$900 million; dividend maintained at $0.12 for the year; healthy leverage with debt-to-equity ~0.43x and meaningful headroom (management said an additional ~$6bn of borrowing capacity to rise to ~0.9x gearing if required).
Interest Costs and Capital Efficiency
Average interest cost fell from 4.4% to 3.9% year-on-year, with management expecting a modest further decline (~10–15 bps); private funds capital allocation has become more efficient (capital deployed to new funds reduced to ~$5.2 billion from higher legacy levels).
Private Credit and Data Center Capabilities
Private credit platform demonstrating scale (Wingate senior debt AUM crossed AUD 300m; ACP Fund I fully returned with attractive returns; ACP II oversubscribed); firm has ~800 MW of data center capacity operating and under construction and moving to build operating platform for data centers.
China Strategy: C-REIT Progress and Domestic Capital Opportunities
Launched first C-REIT (trading at ~1.21x price/NAV and above underwriting), filed a second C-REIT; management sees C-REITs and China-for-China funds as a route to recycle assets into RMB-denominated fee-generating vehicles and to attract domestic liquidity.
Digital / AI Initiatives and Cost Savings Target
Management is investing in AI and digital initiatives and expects these to drive cost savings and efficiency; target run-rate cost savings from these programs is $30–50 million (group target $50m) by 2027.
SG:9CI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SG:9CI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 10, 2026 | S$3.17 | S$3.06 | -3.47% |
Nov 06, 2025 | S$2.65 | S$2.65 | 0.00% |
Aug 13, 2025 | S$2.82 | S$2.72 | -3.55% |
Feb 27, 2025 | S$2.33 | S$2.44 | +4.72% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does CapitaLand Investment Limited (SG:9CI) report earnings?
CapitaLand Investment Limited (SG:9CI) is schdueled to report earning on Apr 29, 2026, Before Open (Confirmed).
What is CapitaLand Investment Limited (SG:9CI) earnings time?
CapitaLand Investment Limited (SG:9CI) earnings time is at Apr 29, 2026, Before Open (Confirmed).
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What is the P/E ratio of CapitaLand Investment Limited stock?
The P/E ratio of CapitaLand Investment Limited is N/A.
What is SG:9CI EPS forecast?
Currently, no data Available