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Frasers Logistics & Commercial Trust
(SGX:BUOU)
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Rating:68Neutral
Price Target:
S$1.00
▲(2.04% Upside)
Action:Downgraded
Date:08/04/26
The score is driven primarily by solid financial performance, led by strong cash flow metrics and improved profitability, offset by slightly negative revenue growth and modest ROE. Technicals are broadly neutral with mild positive momentum, while valuation is supported by a strong dividend yield but only a moderate P/E.
Positive Factors
Cash generation & conversion
Consistent free cash flow growth and strong cash conversion ratios indicate durable internal funding for distributions, capex and acquisitions. Higher FCF cushions against rental cyclicality and supports stable payouts and reinvestment without immediate reliance on equity issuance.
Negative Factors
Revenue growth trend
A small decline in revenue signals exposure to occupancy, rental rate pressures or tenant churn that can persist across quarters. If not reversed through asset management or leasing uplifts, slower top-line growth constrains future cash flow expansion and distribution growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & conversion
Consistent free cash flow growth and strong cash conversion ratios indicate durable internal funding for distributions, capex and acquisitions. Higher FCF cushions against rental cyclicality and supports stable payouts and reinvestment without immediate reliance on equity issuance.
Read all positive factors
Frasers Logistics & Commercial Trust (BUOU) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$3.68B
Dividend Yield6.15%
Average Volume (3M)12.94M
Price to Earnings (P/E)17.1
Beta (1Y)0.66
Revenue Growth0.44%
EPS Growth57.42%
CountrySG
Employees22
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)0.06
Shares Outstanding3,808,609,100
10 Day Avg. Volume15,300,489
30 Day Avg. Volume12,938,566
Financial Highlights & Ratios
PEG Ratio0.45
Price to Book (P/B)0.86
Price to Sales (P/S)7.59
P/FCF Ratio14.22
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$1.15Price Target Upside17.35% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.05
Revenue Forecast (FY)S$481.23M
Frasers Logistics & Commercial Trust Business Overview & Revenue Model
Company Description
Frasers Logistics & Commercial Trust (FLCT) is a prominent Singapore-listed real estate investment trust, boasting a substantial portfolio of approximately 100 industrial and commercial properties valued at around S$6.2 billion. Its holdings are s...
How the Company Makes Money
FLT makes money primarily by collecting contractual rental income from tenants that lease space in its logistics/industrial and commercial properties. Revenue is typically secured through lease agreements that specify base rent (and, where applica...
Frasers Logistics & Commercial Trust Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
75
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 476.95M | 471.49M | 446.67M | 420.78M | 450.19M | 469.33M |
| Gross Profit | 312.11M | 338.85M | 321.13M | 314.13M | 347.92M | 365.82M |
| EBITDA | 347.16M | 347.94M | 281.62M | -24.95M | 902.74M | 922.08M |
| Net Income | 212.94M | 205.07M | 147.53M | -103.03M | 728.64M | 731.11M |
Balance Sheet | ||||||
| Total Assets | 7.29B | 7.34B | 7.14B | 6.94B | 7.41B | 7.68B |
| Cash, Cash Equivalents and Short-Term Investments | 120.71M | 299.10M | 133.57M | 152.74M | 220.73M | 140.37M |
| Total Debt | 2.49B | 2.64B | 2.41B | 2.16B | 2.10B | 2.69B |
| Total Liabilities | 2.93B | 3.07B | 2.81B | 2.51B | 2.52B | 3.06B |
| Stockholders Equity | 4.26B | 4.17B | 4.27B | 4.38B | 4.84B | 4.57B |
Cash Flow | ||||||
| Free Cash Flow | 231.19M | 251.69M | 223.16M | 140.99M | 179.33M | 272.93M |
| Operating Cash Flow | 231.19M | 302.26M | 311.37M | 302.25M | 306.94M | 301.81M |
| Investing Cash Flow | 115.32M | -35.94M | -263.66M | -128.31M | 523.51M | -325.41M |
| Financing Cash Flow | -364.26M | -104.23M | -67.38M | -243.09M | -737.69M | -4.79M |
Frasers Logistics & Commercial Trust Technical Analysis
Neutral
0.98
Price Trends
0.97
Negative
0.95
Positive
0.95
Positive
Market Momentum
>-0.01
Positive
37.03
Neutral
14.48
Positive
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 0.98 is above the 20-day moving average (MA) of 0.98, above the 50-day MA of 0.97, and above the 200-day MA of 0.95, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 37.03 is Neutral, neither overbought nor oversold. The STOCH value of 14.48 is Positive, 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
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | S$3.68B | 17.05 | 5.05% | 5.99% | 0.44% | 57.42% | |
68 Neutral | S$11.57B | 15.38 | 7.00% | 7.53% | 6.53% | 0.82% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | S$6.01B | 23.26 | 3.97% | 6.05% | -1.83% | 40.50% | |
61 Neutral | S$1.91B | 115.69 | 1.71% | 8.84% | 4.85% | ― | |
59 Neutral | S$5.45B | 27.29 | 4.42% | 6.59% | -6.27% | -41.14% | |
58 Neutral | S$305.19M | 8.48 | 7.78% | 8.04% | 1.11% | 18.18% |
* Real Estate Sector Average
SG:BUOU
Frasers Logistics & Commercial Trust
0.96
0.11
13.48%
SG:A17U
CapitaLand Ascendas REIT
2.44
-0.09
-3.40%
SG:9A4U
ESR-REIT
2.36
-0.16
-6.50%
SG:M44U
Mapletree Logistics
1.17
0.08
7.73%
SG:ME8U
Mapletree Industrial
1.91
0.03
1.65%
SG:DHLU
Daiwa House Logistics Trust
0.43
-0.09
-17.47%
Frasers Logistics & Commercial Trust Corporate Events
Frasers Logistics & Commercial Trust Issues New Units to Fund Acquisition Fee
Aug 3, 2026
Frasers Logistics Commercial Trust has issued 1,998,458 new units to its manager as payment of an acquisition fee of S$1.98 million, linked to the recent purchase of equity interests in property companies holding four logistics and commercial ass...
Frasers Logistics & Commercial Trust issues new units to pay management fees
Jul 31, 2026
Frasers Logistics Commercial Trust has issued 5,349,057 new units on 31 July 2026 to satisfy 75% of the base management fees for the REIT and its Australian sub-trust for the quarter ended 30 June 2026. The units, priced at S$0.9873 based on the ...
Frasers Logistics & Commercial Trust Delivers Strong Rents and Stable Leverage in 3QFY26
Jul 30, 2026
Frasers Logistics Commercial Trust reported resilient operating metrics for the quarter ended 30 June 2026, with portfolio occupancy at 96.1% and a weighted average lease expiry of 4.9 years. The logistics and industrial segment remained particul...
Frasers Logistics & Commercial Trust reshapes board and audit leadership
Jul 24, 2026
Frasers Logistics Commercial Trust’s manager has reshaped its board and key governance committees, appointing independent director Chang Tou Chen to the board and to both the Audit, Risk and Compliance Committee and the Nominating and Remun...
FLCT Secures US$200 Million Green Loan With Stringent Change-of-Control Covenants
Jun 16, 2026
Frasers Logistics Commercial Trust has entered into a US$200 million green loan facility agreement maturing in June 2026 with The Hongkong and Shanghai Banking Corporation Limited’s Singapore branch, with Perpetual (Asia) Limited acting as ...
FLCT Discloses S$200 Million Loan With Change-of-Manager Trigger
May 26, 2026
Frasers Logistics Commercial Trust has entered into a S$200 million loan facility with United Overseas Bank that includes a change-of-manager clause tied to control of its manager by Frasers Property Limited. If the manager is replaced without re...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.