Mapletree Logistics (M44U) AI Stock Analysis

• Market Cap: $5.99B
• Dividend Yield: 6.63%
• Average Volume (3M): 13.52M
• Price to Earnings (P/E): 32.3
• Beta (1Y): 1.07
• Revenue Growth: -0.97%
• EPS Growth: -40.20%
• Country: SG
• Employees: 345
• Sector: Real Estate
• Sector Strength: 58
• Industry: REIT - Industrial
• EPS (TTM): >-0.01
• Shares Outstanding: 5,075,149,000
• 10 Day Avg. Volume: 12,174,270
• 30 Day Avg. Volume: 13,520,472
• PEG Ratio: -0.87
• Price to Book (P/B): 0.89
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 11.69
• 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: $1.32
• Price Target Upside: 12.10% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8

• Rating: 63 Neutral
• Price Target: S$1.00 ▼(-15.25%Downside)

Mapletree Logistics shows financial stability and robust cash flow, but faces challenges with declining earnings and revenue growth, as well as an overvalued stock price with low yield. Technical indicators suggest limited momentum. The latest earnings call reflected mixed results with significant challenges in China and increased borrowing costs, impacting overall performance.

Positive Factors

Executive Actions

CEO Jean Kam acquired shares in the REIT in a day of weakness in a vote of confidence.

Growth Potential

Mapletree Logistics Trust invests in a diversified portfolio of logistics properties across the Asia Pacific region with favorable demand-supply dynamics supporting a steady growth profile for the REIT over time.

Negative Factors

Financial Performance

Mapletree Logistics Trust reported a 0.8% drop in revenue and a 1.6% decline in net property income due to lower contributions from China and other factors.

Market Conditions

Management cautioned that a protracted trade war could affect demand for warehouse space, thereby reducing occupancy and rental rates.

Mapletree Logistics Business Overview & Revenue Model

Company Description

Mapletree Logistics Trust (M44U) is a real estate investment trust (REIT) that focuses on investing in logistics real estate across the Asia-Pacific region. The company operates a diversified portfolio of high-quality logistics assets, including warehouses and distribution centers, strategically located in key logistics hubs to serve a range of sectors such as e-commerce, retail, and manufacturing. Mapletree Logistics Trust is committed to delivering sustainable returns through active asset management and value-enhancing initiatives.

How the Company Makes Money

Mapletree Logistics Trust generates revenue primarily through leasing its logistics properties to tenants. The company earns rental income from a diverse tenant base, which includes multinational corporations and local enterprises involved in industries such as e-commerce, consumer goods, and third-party logistics. The trust seeks to maximize occupancy rates and rental yields through proactive leasing strategies and maintaining strong tenant relationships. Additionally, Mapletree Logistics Trust may engage in strategic acquisitions and asset enhancement initiatives to expand and upgrade its portfolio, further boosting rental income and capital growth. The trust's performance is also supported by its partnerships with various stakeholders, including real estate developers and financial institutions, which can provide opportunities for growth and expansion.

Mapletree Logistics Financial Statement Overview

Summary

Mapletree Logistics exhibits financial stability with strong gross margins and a solid asset base. However, challenges such as declining net income and revenue growth, coupled with a decrease in return on equity, indicate pressure on future profitability. Despite a healthy balance sheet with manageable leverage, the company must enhance earnings to improve shareholder returns. Cash flow remains robust, supporting operational needs and financial obligations.

Income Statement

Mapletree Logistics shows stable gross profit margins, maintaining above 70% in recent years, and net profit margins around 29% in the latest annual report. However, there is a decline in net income from the previous year, indicating potential challenges in maintaining earnings growth. The revenue growth rate is fluctuating, with a slight decline in the latest period, which could point to market saturation or increased competition.

Balance Sheet

The company's debt-to-equity ratio remains stable, with a slight increase in total debt, indicating manageable leverage. Return on equity has decreased, reflecting pressure on profitability. The equity ratio is healthy, showcasing a strong asset base relative to liabilities, supporting financial stability.

Cash Flow

Operating cash flow is strong, with a high operating cash flow to net income ratio, indicating efficient cash generation from operations. Free cash flow remains positive, but the growth rate has slowed, suggesting potential challenges in improving cash reserves. The cash flow statements reflect a stable financial position with adequate liquidity.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	714.78M	733.89M	735.26M	680.02M	567.35M
Gross Profit	520.71M	543.78M	538.09M	504.61M	435.42M
EBITDA	429.02M	536.63M	533.21M	502.93M	434.72M
Net Income	207.77M	327.48M	566.58M	782.44M	462.73M
Balance Sheet
Total Assets	13.89B	13.81B	13.42B	13.69B	11.20B
Cash, Cash Equivalents and Short-Term Investments	299.01M	304.82M	302.50M	338.62M	280.76M
Total Debt	5.67B	5.40B	5.55B	5.64B	4.77B
Total Liabilities	6.65B	6.33B	6.48B	6.60B	5.52B
Stockholders Equity	6.64B	7.47B	6.93B	7.07B	5.68B
Cash Flow
Free Cash Flow	536.03M	573.49M	467.26M	390.11M	352.23M
Operating Cash Flow	536.03M	573.49M	470.63M	385.83M	352.41M
Investing Cash Flow	-243.69M	-844.25M	-235.41M	-1.61B	-1.27B
Financing Cash Flow	-286.74M	280.62M	-245.99M	1.28B	1.05B

Mapletree Logistics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.18
• 50DMA: Positive
• 100DMA: Positive
• 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:M44U, the sentiment is Positive. The current price of 1.18 is above the 20-day moving average (MA) of 1.16, above the 50-day MA of 1.13, and below the 200-day MA of 1.21, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 60.40 is Neutral, neither overbought nor oversold. The STOCH value of 71.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:M44U.

Mapletree Logistics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
O5RU	72 Outperform	S$1.11B	33.75	3.17%	7.44%	5.21%	-25.46%
DHLU	71 Outperform	S$395.18M	11.60	6.78%	8.28%	-7.68%	-20.20%
BUOU	70 Outperform	$3.20B	23.81	3.21%	7.06%	11.98%	―
TQ5	68 Neutral	$3.63B	13.81	2.80%	4.86%	19.82%	―
Sector *	63 Neutral	$6.74B	18.42	-1.93%	6.82%	4.67%	-25.44%
M44U	63 Neutral	$5.99B	32.33	2.74%	6.63%	-0.97%	-40.20%
9A4U	54 Neutral	S$2.01B	―	-6.38%	0.44%	-4.01%	-66.90%

Mapletree Logistics Corporate Events

Mapletree Logistics Trust Secures New Loan Agreement with Key Conditions

Mapletree Logistics Trust Management Ltd. announced that one of its subsidiaries has entered into a loan agreement with conditions similar to existing debt facilities. These conditions require MLTM to remain as the manager of MLT and for the manager to remain a subsidiary of Mapletree Investments Pte Ltd. A breach of these conditions could affect debt facilities amounting to approximately S$5,646 million. As of the announcement date, no conditions have been breached.

The most recent analyst rating on (SG:M44U) stock is a Buy with a S$1.35 price target. To see the full list of analyst forecasts on Mapletree Logistics stock, see the SG:M44U Stock Forecast page.

Mapletree Logistics Trust Issues New Units for Fee Payments

Mapletree Logistics Trust has announced the issuance of 8,415,976 new units at S$1.3078 per unit as part of the payment for base, property management, and lease management fees for certain properties. This issuance, covering the period from January 1 to March 31, 2025, reflects the trust’s ongoing strategy to manage its financial obligations through equity, potentially impacting its unit holders and market positioning by enhancing its asset management capabilities across its diverse property portfolio.

The most recent analyst rating on (SG:M44U) stock is a Buy with a S$1.58 price target. To see the full list of analyst forecasts on Mapletree Logistics stock, see the SG:M44U Stock Forecast page.