Frasers Logistics & Commercial Trust (BUOU) AI Stock Analysis

• Market Cap: $3.05B
• Dividend Yield: 5.67%
• Average Volume (3M): 14.01M
• Price to Earnings (P/E): 22.7
• Beta (1Y): 0.94
• Revenue Growth: 11.98%
• EPS Growth: N/A
• Country: SG
• Employees: 22
• Sector: Real Estate
• Sector Strength: 64
• Industry: REIT - Industrial
• EPS (TTM): 0.02
• Shares Outstanding: 3,769,944,600
• 10 Day Avg. Volume: 10,329,990
• 30 Day Avg. Volume: 14,013,272
• PEG Ratio: -1.31
• Price to Book (P/B): 0.94
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 32.08
• 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: $1.03
• Price Target Upside: 27.25% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 58 Neutral
• Price Target: S$1.00 ▲(23.46%Upside)

Frasers Logistics & Commercial Trust exhibits strong financial performance with robust cash flow and improved profitability. However, technical analysis suggests limited upward momentum, and valuation metrics indicate potential overvaluation. The attractive dividend yield provides some balance. Without significant recent earnings call insights or corporate events, the overall score reflects a cautious outlook.

Positive Factors

Growth Potential

FLCT still has the largest ROFR pipeline, valued at more than S$5.0bn, which could double its portfolio, providing a visibility like no other.

Portfolio Occupancy

FLT maintained full occupancy for its logistics properties in Australia, Europe and the UK.

Revenue Growth

Frasers Logistics & Commercial Trust reported a 7.5% increase in revenue, thanks to contributions from new property acquisitions.

Negative Factors

Currency Exposure

The REIT is exposed to currency fluctuations due to distributions being paid in SGD while holding assets in AUD, EUR, and GBP.

Financial Performance

Distributable Income decreased by 13.5% due to increased finance costs.

Interest Expenses

FLT cautioned that the cost of debt would continue to rise as loans are refinanced and interest rate swaps are rolled over at higher interest rates.

Frasers Logistics & Commercial Trust Business Overview & Revenue Model

Company Description

Frasers Logistics & Commercial Trust (BUOU) is a Singapore-based real estate investment trust (REIT) focused on investing in logistics and commercial properties across key markets in Asia Pacific and Europe. The trust's portfolio includes a diverse range of high-quality warehouse, industrial, and office spaces, catering to a broad spectrum of tenants from various sectors. Frasers Logistics & Commercial Trust aims to provide unitholders with sustainable distributions and long-term capital growth through strategic acquisitions and proactive asset management.

How the Company Makes Money

Frasers Logistics & Commercial Trust generates revenue primarily through leasing its logistics and commercial properties to a wide array of tenants. The trust collects rental income, which is the main revenue stream, and optimizes returns through proactive asset management, including property enhancements and tenant retention strategies. Additionally, the trust benefits from property value appreciation and strategically acquires assets that align with its investment criteria, further supporting income growth. Key partnerships with property managers and developers, as well as maintaining high occupancy rates, also significantly contribute to the trust's earnings.

Frasers Logistics & Commercial Trust Financial Statement Overview

Summary

Frasers Logistics & Commercial Trust has shown strong recovery and growth across its financial statements. Revenue and net income have rebounded, leading to improved margins and profitability. The balance sheet reflects a stable equity position, though leverage remains moderate. Cash flow generation is robust, supporting the company's financial health and operational efficiency.

Income Statement

Frasers Logistics & Commercial Trust has demonstrated solid revenue growth over the past year, with a notable increase from 2023 to 2024. The gross profit margin remains robust at approximately 74.5% for 2024. However, the company experienced a negative EBIT and EBITDA in 2023, which has since recovered significantly in 2024. Net profit margin has improved to 29.9% after a negative result in 2023, indicating a strong turnaround.

Balance Sheet

The balance sheet shows a healthy equity ratio of 59.8% in 2024, indicating a strong asset base relative to liabilities. However, the debt-to-equity ratio stands at 56.5%, reflecting moderate leverage. The return on equity has improved from negative in 2023 to 3.5% in 2024, signaling a positive trend in profitability.

Cash Flow

The company has shown impressive growth in free cash flow, with a significant increase of 58.3% from 2023 to 2024. The operating cash flow to net income ratio is strong at 2.11, indicating efficient cash generation relative to net income. The free cash flow to net income ratio is also favorable at 1.51, highlighting effective cash utilization.

Breakdown
Sep 2024	Sep 2023	Sep 2022	Sep 2021	Sep 2020
Income Statement		Total Revenue
446.67M	420.78M	450.19M	469.33M	332.03M
	Gross Profit
321.13M	314.13M	347.92M	365.82M	269.18M
	EBIT
278.85M	-24.33M	902.30M	919.73M	570.44M
	EBITDA
281.62M	-24.95M	902.74M	922.08M	567.62M
	Net Income Common Stockholders
147.53M	-103.03M	728.64M	731.11M	454.72M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
133.57M	152.74M	220.73M	140.37M	168.65M
	Total Assets
7.14B	6.94B	7.41B	7.68B	6.73B
	Total Debt
2.41B	2.16B	2.10B	2.68B	2.62B
	Net Debt
2.28B	2.00B	1.88B	2.54B	2.45B
	Total Liabilities
2.81B	2.51B	2.52B	3.06B	2.93B
	Stockholders Equity
4.27B	4.38B	4.84B	4.57B	3.77B
Cash Flow		Free Cash Flow
223.16M	140.99M	141.51M	231.37M	182.11M
	Operating Cash Flow
311.37M	302.25M	269.13M	260.26M	182.16M
	Investing Cash Flow
-263.66M	-128.31M	523.51M	-325.41M	-453.50M
	Financing Cash Flow
-4.69M	-243.09M	-699.17M	36.81M	323.22M

Frasers Logistics & Commercial Trust Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.81
• 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:BUOU, the sentiment is Neutral. The current price of 0.81 is above the 20-day moving average (MA) of 0.80, below the 50-day MA of 0.82, and below the 200-day MA of 0.90, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 54.12 is Neutral, neither overbought nor oversold. The STOCH value of 79.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:BUOU.

Frasers Logistics & Commercial Trust Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
O5RU	72 Outperform	S$1.08B	32.75	3.17%	7.33%	5.21%	-25.46%
DHLU	69 Neutral	S$395.18M	11.60	6.78%	8.55%	-7.68%	-20.20%
ME8U	62 Neutral	$5.53B	16.41	6.85%	6.90%	1.34%	195.50%
Sector *	61 Neutral	$2.85B	10.96	0.41%	8438.88%	5.73%	-21.25%
M44U	59 Neutral	$5.63B	30.41	2.74%	6.43%	-0.97%	-40.20%
BUOU	58 Neutral	$3.05B	22.69	3.21%	5.67%	11.98%	―
9A4U	53 Neutral	S$1.84B	―	-6.38%	9.43%	-4.01%	-66.90%

Frasers Logistics & Commercial Trust Corporate Events

Frasers Logistics & Commercial Trust Issues New Units for Divestment Fees

Frasers Logistics & Commercial Trust has issued 386,833 new units to its manager as payment for divestment fees related to the sale of minority interests in properties located in Germany. The divestment, completed in November 2024, involved transactions with Frasers Property Investments (Europe) B.V., FPI Netherlands B.V., and Stichting Coeval. These transactions are considered ‘interested party transactions,’ and the units issued as payment will not be sold for at least one year. This issuance increases the total number of units in FLCT to over 3.7 billion, with the manager holding a 0.51% stake.

The most recent analyst rating on (SG:BUOU) stock is a Buy with a S$1.11 price target. To see the full list of analyst forecasts on Frasers Logistics & Commercial Trust stock, see the SG:BUOU Stock Forecast page.

Frasers Logistics & Commercial Trust Issues New Units for Management Fees

Frasers Logistics & Commercial Trust announced the issuance of 7,356,212 new units to pay management fees for the first quarter of 2025. This strategic move reflects the company’s ongoing commitment to efficient financial management and may influence its market positioning by optimizing its asset management operations.

The most recent analyst rating on (SG:BUOU) stock is a Hold with a S$1.10 price target. To see the full list of analyst forecasts on Frasers Logistics & Commercial Trust stock, see the SG:BUOU Stock Forecast page.

Frasers Logistics & Commercial Trust Announces Board and Committee Changes

Frasers Logistics & Commercial Trust announced changes in its Board of Directors and committees, effective from May 25, 2025. Mr. Goh Yong Chian will retire as a Non-Executive and Independent Director, and Ms. Soh Onn Cheng Margaret Jane will replace him in the Audit, Risk, and Compliance Committee. These changes aim to maintain the independence and effectiveness of the board and its committees.

Frasers Logistics & Commercial Trust Secures GBP 115 Million Loan Facility with Key Conditions

Frasers Logistics & Commercial Trust has entered into a GBP 115 million loan facility agreement with Oversea-Chinese Banking Corporation Limited. The agreement includes a condition that could trigger mandatory prepayment if there is a change in the manager of the trust without the lender’s consent, potentially impacting the trust’s financial operations and stability.