CapitaLand Investment Limited (9CI) AI Stock Analysis

• Market Cap: S$15.62B
• Dividend Yield: 4.44%
• Average Volume (3M): 10.54M
• Price to Earnings (P/E): 35.0
• Beta (1Y): 0.96
• Revenue Growth: -11.37%
• EPS Growth: 171.65%
• Country: US
• Employees: 10,000
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): N/A
• Shares Outstanding: 5,203,196,000
• 10 Day Avg. Volume: 9,212,380
• 30 Day Avg. Volume: 10,542,183
• PEG Ratio: 0.16
• Price to Book (P/B): 0.97
• Price to Sales (P/S): 4.68
• P/FCF Ratio: 24.31
• 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$3.60
• Price Target Upside: 18.03% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: S$3.00 ▼(-1.64% Downside)

CapitaLand Investment Limited's overall stock score is primarily influenced by its strong financial performance, despite challenges in revenue and cash flow. Technical analysis indicates potential bearish momentum, and the stock appears overvalued based on its P/E ratio, though the dividend yield offers some appeal.

Positive Factors

High and durable margins

Consistently strong gross, EBIT and EBITDA margins indicate the company captures pricing power and manages operating costs effectively across its portfolio. These margins create a structural earnings cushion versus peers, supporting reinvestment, distributions and resilience through real estate cycles over months to years.

Improved leverage and stable capital structure

A lower debt-to-equity ratio and stable equity ratio reduce financial strain and interest burden, enhancing strategic flexibility. This improved leverage profile strengthens the company's ability to finance developments, pursue acquisitions or withstand market stress without immediate recapitalization, aiding medium-term durability.

Diversified revenue streams and fee income

Multiple income sources—rental income, sales, development profits and recurring management fees—dampen volatility tied to any single market. Recurring fee income from fund management provides steadier cash inflows, supporting operational stability and longer-term cash generation even when property transactions slow.

Negative Factors

Material revenue decline

A steep year-over-year revenue drop signals weakening top-line momentum that can persist if driven by asset disposals, weaker occupancies or market softness. Even with healthy margins, falling revenue reduces absolute earnings, constrains reinvestment capacity and risks longer-term growth unless trends reverse.

Free cash flow deterioration and weak cash conversion

A near-30% drop in free cash flow and low operating-cash-to-net-income ratio indicate weaker cash conversion and tighter liquidity. Persistent FCF pressure limits capacity for development spending, deleveraging or consistent distributions, increasing reliance on financing during periods of investment or market stress.

Modest return on equity

A low ROE suggests the company generates limited returns on capital deployed, which can hinder long-term shareholder value creation. If ROE remains subdued, expansion or capital raising may not translate into proportionate profit growth, constraining total returns despite operational scale and margins.

CapitaLand Investment Limited Business Overview & Revenue Model

Company Description

CapitaLand Investment Limited is a real estate investment manager of CapitaLand Group. Its diversified real estate asset classes cover integrated developments, retail, office, lodging and new economy sectors such as business parks, industrial, logistics and data centers. We invest primarily in China and India along with Asia-Pacific, Europe, and the USA. CapitaLand Investment Limited was founded in 2002 and is headquartered in Singapore.

How the Company Makes Money

CapitaLand Investment generates revenue through multiple key streams, primarily from real estate investment, property management, and development activities. The company earns rental income from its extensive portfolio of properties, including shopping malls, office buildings, and residential units. Additionally, it benefits from property sales and development projects, where it develops residential and commercial properties for sale. The company also engages in real estate investment management, collecting management fees from funds it manages on behalf of institutional investors. Strategic partnerships with local and international developers, as well as joint ventures in various markets, further enhance its revenue potential. Market conditions, property valuations, and demand for real estate also play significant roles in influencing the company's earnings.

CapitaLand Investment Limited Financial Statement Overview

Summary

CapitaLand Investment Limited exhibits strong profitability and operational efficiency with healthy margins and improved leverage. However, challenges such as declining revenue and free cash flow growth need addressing to sustain long-term growth.

Income Statement

CapitaLand Investment Limited has shown fluctuating revenue growth with a significant decline of 21.69% in the most recent year. However, the company maintains a strong gross profit margin of 44.94% and a net profit margin of 17.02%, indicating efficient cost management and profitability. The EBIT and EBITDA margins are also robust at 45.51% and 50.48%, respectively, suggesting strong operational performance despite revenue challenges.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.58, indicating a reduction in leverage compared to previous years. Return on equity stands at 3.54%, reflecting moderate profitability relative to shareholder equity. The equity ratio is stable, suggesting a balanced capital structure and financial stability.

Cash Flow

CapitaLand Investment Limited experienced a decline in free cash flow growth by 28.26%, which could indicate potential liquidity challenges. However, the operating cash flow to net income ratio of 0.20 and a free cash flow to net income ratio of 0.97 demonstrate that the company generates sufficient cash relative to its net income, supporting its operational needs.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.28B	2.81B	2.78B	2.88B	2.29B	1.98B
Gross Profit	2.38B	1.26B	2.78B	1.29B	1.06B	872.00M
EBITDA	991.00M	1.42B	1.22B	1.05B	802.00M	-33.00M
Net Income	509.00M	479.00M	181.00M	861.00M	1.35B	-559.00M
Balance Sheet
Total Assets	23.98B	24.71B	34.13B	35.11B	37.65B	38.22B
Cash, Cash Equivalents and Short-Term Investments	1.36B	2.31B	2.46B	2.67B	3.88B	1.74B
Total Debt	8.19B	7.90B	12.72B	12.77B	13.95B	14.99B
Total Liabilities	10.51B	10.30B	15.90B	16.18B	17.55B	22.49B
Stockholders Equity	12.58B	13.55B	14.36B	15.53B	16.44B	12.27B
Cash Flow
Free Cash Flow	613.50M	542.00M	659.00M	579.00M	625.00M	139.00M
Operating Cash Flow	615.50M	561.00M	682.00M	735.00M	667.00M	183.00M
Investing Cash Flow	1.45B	2.57B	-187.00M	-382.00M	1.27B	1.07B
Financing Cash Flow	-3.19B	-3.25B	-637.00M	-1.37B	223.00M	-972.00M

CapitaLand Investment Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.05
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:9CI, the sentiment is Positive. The current price of 3.05 is above the 20-day moving average (MA) of 2.85, above the 50-day MA of 2.73, and above the 200-day MA of 2.67, indicating a bullish trend. The MACD of 0.08 indicates Negative momentum. The RSI at 81.85 is Negative, neither overbought nor oversold. The STOCH value of 80.56 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:9CI.

CapitaLand Investment Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AJBU	76 Outperform	$5.42B	13.62	10.81%	4.55%	23.81%	89.10%
J69U	72 Outperform	S$4.60B	21.65	4.49%	5.29%	10.82%	-5.02%
C38U	71 Outperform	$17.96B	17.40	6.41%	5.26%	0.17%	8.05%
U14	70 Outperform	S$8.71B	20.08	3.80%	2.06%	18.74%	-38.36%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
M44U	59 Neutral	S$6.94B	32.69	3.18%	5.83%	-1.81%	-18.43%
9CI	57 Neutral	S$15.62B	34.98	3.35%	4.44%	-11.37%	171.65%

CapitaLand Investment Limited Corporate Events

CICT Leads S$1.5 Billion Hougang Central Mixed-Use Development to Deepen Singapore Focus

CapitaLand Integrated Commercial Trust has, via a consortium structure, secured a Housing and Development Board tender for a large 99-year leasehold mixed-use commercial and residential site at Hougang Central with a bid of about S$1.5 billion. CICT’s Commercial Trust will fully develop and own the commercial component, comprising around 300,000 square feet of net lettable area, at an expected development cost of about S$1.1 billion and an estimated yield on cost above 5%, with completion targeted around 2030–2031. The transaction deepens CICT’s exposure to the Singapore market, aligns with its strategy of growing through development to create value, and further reinforces its positioning as a core vehicle for investors seeking commercial real estate exposure in one of the region’s most stable and resilient markets.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.65 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Investment Accelerates APAC Logistics Push With New Investment and S$260 Million Singapore Facility

CapitaLand Investment Limited has announced a minority investment in Ally Logistic Property, a specialist in modern smart logistics infrastructure in Asia and an existing partner in the CapitaLand Southeast Asia Logistics Fund, to deepen its operational capabilities and accelerate logistics platform growth across Asia Pacific and into markets such as Australia, Japan and the United States. Concurrently, the CapitaLand Southeast Asia Logistics Fund is expanding its portfolio with a S$260 million commitment to develop OMEGA 1 Singapore, an automated logistics facility on a 5.1-hectare site, underscoring the company’s push to capitalise on strong structural demand for automated logistics solutions driven by digital consumption, rising labour costs and supply chain rationalisation across the region.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.65 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Raises S$150 Million for India Data Centre Fund, Buys Stakes in Three Facilities

CapitaLand Investment Limited has achieved a first close of approximately S$150 million for its CapitaLand India Data Centre Fund, anchored by a global institutional investor and supported by a general partner commitment from the company, as it targets a final fund size of around S$300 million to expand its presence in India’s major data centre hubs. Using proceeds from this first close, the fund will acquire a 20.2% stake in each of three AI-ready, power-secured data centres in Mumbai, Chennai and Hyderabad from CapitaLand India Trust for about S$99.73 million, gaining exposure to a combined gross capacity of 200MW and securing a right of first offer on a fourth Bangalore data centre, thereby strengthening CapitaLand’s positioning in India’s fast-growing digital infrastructure market and supporting demand from hyperscalers and large enterprises.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.65 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Malaysia Trust to Acquire Five Industrial Properties in Johor for RM220.8 Million

CapitaLand Malaysia Trust has agreed, via its trustee MTrustee Berhad, to acquire five single-storey detached factory units with double-storey offices and ancillary buildings to be developed on freehold land in the i-TechValley, Phase 3, Southern Industrial and Logistics Clusters in Iskandar Puteri, Johor, for a total cash consideration of RM220.8 million. The non-related party transaction, representing about 4.2% of CLMT’s total asset value, signals the REIT’s continued expansion into industrial and logistics real estate, potentially enhancing portfolio diversification and future rental income from a strategic growth corridor in southern Malaysia.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.65 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Investment Expands Onshore Fund with New Sub-Fund Closure

CapitaLand Investment Limited has successfully closed its second onshore sub-fund, China Retail RMB Fund I, under its RMB Master Fund, securing a total fund size of RMB1 billion. The sub-fund will recapitalize CapitaMall Xinduxin, a prime retail asset in Qingdao, as its seed asset, reflecting CLI’s strategy to unlock capital for reinvestment and strengthen its position in the domestic market. This move underscores CLI’s ability to attract significant domestic investment and reinforces its domestic-for-domestic fund strategy, having raised nearly RMB55 billion across nine onshore funds since 2021.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.65 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Investment Partners on Johor Bahru’s Largest Retail Landmark

CapitaLand Investment Limited has partnered with Coronade Properties to develop the Coronation Square Mall in Johor Bahru City Centre, marking a significant cross-border retail collaboration in the Johor-Singapore Special Economic Zone. This development, strategically located in the Ibrahim International Business District, is expected to enhance the retail landscape and strengthen economic ties between the regions.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.65 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Investment Explores Retail Insights with J.P. Morgan

CapitaLand Investment Limited hosted a fireside chat with J.P. Morgan, focusing on insights into the retail scene. The discussion, led by Ervin Yeo, Group Chief Strategy Officer and CEO of Commercial Management, aimed to explore beyond mere pricing strategies, potentially impacting the company’s strategic positioning in the retail industry.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.65 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

Ascott Sets New Benchmark with Disability Inclusion Playbook

The Ascott Limited has launched a pioneering Disability Inclusion Playbook for the accommodation sector, setting a new standard for inclusive hospitality. Developed in collaboration with disability inclusion specialists and supported by organizations like SG Enable and the World Sustainable Hospitality Alliance, the playbook offers a comprehensive framework across five key pillars to help hospitality operators embrace disability inclusion. As part of its commitments, Ascott will implement standardized accessibility profiles and disability awareness training, and begin reporting on the hiring of persons with disabilities starting in 2026, aiming to foster a more inclusive environment for both guests and employees.

The most recent analyst rating on (SG:9CI) stock is a Buy with a S$3.65 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Investment Surpasses Fundraising Target with CLARA II

CapitaLand Investment Limited has successfully closed its CapitaLand Ascott Residence Asia Fund II, raising over US$650 million, exceeding its initial target. This achievement highlights investor confidence in CLI’s capabilities and the growth potential of the living and lodging sector, driven by trends such as increased mobility and demand for flexible living arrangements.

The most recent analyst rating on (SG:9CI) stock is a Hold with a S$2.50 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.

CapitaLand Investment Addresses Merger Speculation

CapitaLand Investment Limited addressed media reports about a potential merger with Mapletree Investments, emphasizing its commitment to long-term shareholder value. The company clarified that it regularly evaluates investment opportunities but does not comment on market speculation, ensuring any necessary disclosures are made in compliance with SGX-ST regulations.

The most recent analyst rating on (SG:9CI) stock is a Hold with a S$2.50 price target. To see the full list of analyst forecasts on CapitaLand Investment Limited stock, see the SG:9CI Stock Forecast page.