Capitaland India Trust (SG:CY6U)
SGX:CY6U
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Capitaland India Trust
(SGX:CY6U)
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Rating:71Outperform
Price Target:
S$1.00
▼(-13.04% Downside)
Action:ReiteratedDate:02/03/26
The score is supported by attractive valuation (low P/E and high dividend yield) and constructive technical momentum (price above major moving averages with positive MACD). This is tempered by financial-quality risks—especially the sharp 2025 cash-flow deterioration and weak earnings-to-cash conversion—plus moderate-to-elevated leverage for the sector.
Positive Factors
Recurring rental income model
The REIT’s core business is contracted rental income plus service-charge recoveries, producing recurring cashflows from leases. This business model provides long-term revenue predictability and structural income stability, supporting distributions and asset reinvestment over time.
Negative Factors
Sharp cash-flow deterioration in 2025
A steep fall in operating cash flow and a ~75% decline in FCF materially weakens distributable cash and raises earnings-quality concerns. Sustained cash conversion issues would pressure distributions, limit reinvestment, and heighten reliance on external funding until cash flows normalize.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring rental income model
The REIT’s core business is contracted rental income plus service-charge recoveries, producing recurring cashflows from leases. This business model provides long-term revenue predictability and structural income stability, supporting distributions and asset reinvestment over time.
Read all positive factors
Capitaland India Trust (CY6U) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.51B
Dividend Yield5.83%
Average Volume (3M)2.50M
Price to Earnings (P/E)―
Beta (1Y)0.62
Revenue Growth13.75%
EPS Growth114.36%
CountrySG
Employees22
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.04
Shares Outstanding1,484,810,800
10 Day Avg. Volume2,138,498
30 Day Avg. Volume2,500,366
Financial Highlights & Ratios
PEG Ratio-0.19
Price to Book (P/B)0.83
Price to Sales (P/S)5.44
P/FCF Ratio40.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$1.43Price Target Upside24.64% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.08
Revenue Forecast (FY)S$289.06M
Capitaland India Trust Business Overview & Revenue Model
Company Description
CapitaLand India Trust is a property trust, which engages in owning income-producing real estate. It is involved in developing and acquiring land or uncompleted developments used as business parks. Its real estate portfolio includes International ...
How the Company Makes Money
CapitaLand India Trust makes money mainly by owning leased real estate in India and collecting recurring income from tenants.
1) Rental income (core stream)
- The trust leases office and business park space to corporate occupiers under contracted...
Capitaland India Trust Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
63
Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 291.09M | 301.38M | 277.88M | 234.05M | 210.61M | 192.73M |
| Gross Profit | 215.66M | 108.75M | 181.51M | 160.25M | 166.80M | 155.74M |
| EBITDA | 187.35M | 37.38M | 550.98M | 169.00M | 228.66M | 194.05M |
| Net Income | 390.67M | 322.49M | 438.77M | 147.43M | 137.40M | 192.29M |
Balance Sheet | ||||||
| Total Assets | 4.49B | 4.66B | 4.48B | 3.73B | 3.22B | 3.14B |
| Cash, Cash Equivalents and Short-Term Investments | 128.52M | 142.13M | 134.62M | 179.82M | 167.40M | 167.89M |
| Total Debt | 1.94B | 1.64B | 1.76B | 1.39B | 1.24B | 1.09B |
| Total Liabilities | 2.64B | 2.57B | 2.51B | 2.09B | 1.84B | 1.69B |
| Stockholders Equity | 1.74B | 1.97B | 1.86B | 1.54B | 1.29B | 1.36B |
Cash Flow | ||||||
| Free Cash Flow | 161.44M | 40.44M | 153.61M | 226.51M | 143.76M | 146.35M |
| Operating Cash Flow | 165.74M | 44.89M | 171.06M | 245.04M | 145.28M | 147.58M |
| Investing Cash Flow | -335.16M | -149.57M | -381.63M | -360.89M | -152.63M | -211.40M |
| Financing Cash Flow | 230.97M | 131.53M | 192.70M | 128.69M | 11.12M | 130.19M |
Capitaland India Trust Technical Analysis
Negative
1.15
Price Trends
1.14
Negative
1.15
Negative
1.12
Negative
Market Momentum
-0.03
Negative
38.44
Neutral
17.86
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:CY6U, the sentiment is Negative. The current price of 1.15 is above the 20-day moving average (MA) of 1.04, above the 50-day MA of 1.14, and above the 200-day MA of 1.12, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 38.44 is Neutral, neither overbought nor oversold. The STOCH value of 17.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:CY6U.
Capitaland India Trust Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | S$1.51B | ― | 10.96% | 5.83% | 13.75% | 114.36% | |
68 Neutral | S$728.56M | 18.56 | 1.11% | 1.20% | 1.94% | -69.89% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | S$564.58M | ― | 4.34% | 3.17% | -2.21% | -20.80% | |
64 Neutral | S$88.30M | -25.00 | -0.28% | ― | 3.75% | -100.00% | |
63 Neutral | S$13.87B | 93.20 | 2.29% | 4.44% | -11.37% | 171.65% | |
40 Underperform | S$63.93M | -10.58 | -3.08% | ― | -6.59% | -242.86% |
* Real Estate Sector Average
SG:CY6U
Capitaland India Trust
1.02
0.21
25.31%
SG:5DM
Ying Li International Real Estate Limited
0.02
<0.01
20.00%
SG:O10
Far East Orchard Ltd.
1.16
0.21
21.98%
SG:5AE
Pollux Properties Ltd.
0.03
0.02
83.33%
SG:H30
Hong Fok Corporation Limited
0.90
0.26
39.84%
SG:9CI
CapitaLand Investment Limited
2.76
0.45
19.48%
Capitaland India Trust Corporate Events
CapitaLand India Trust Issues New Units to Pay Manager Fees
Feb 12, 2026
CapitaLand India Trust has issued 5,048,728 new units to its trustee-manager as part payment of base and performance fees for the 2025 period, with the remaining 50% of each fee paid in cash. The units were priced at S$1.2325, based on the volume-...
CapitaLand India Trust Secures Second Hyperscaler Deal, Lifts Data Centre Pre-Leasing to 53%
Jan 15, 2026
CapitaLand India Trust has signed a second long-term agreement with a leading global hyperscaler for Tower 2 of its CapitaLand DC Navi Mumbai facility in Airoli, taking pre-leasing to 53% of the total gross power capacity across its three under-de...
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.