Mapletree Logistics (M44U) AI Stock Analysis

• Market Cap: $6.21B
• Dividend Yield: 6.34%
• Average Volume (3M): 19.01M
• Price to Earnings (P/E): 34.1
• Beta (1Y): 1.10
• Revenue Growth: -1.47%
• EPS Growth: -39.12%
• Country: SG
• Employees: 345
• Sector: Real Estate
• Sector Strength: 49
• Industry: REIT - Industrial
• EPS (TTM): 0.01
• Shares Outstanding: 5,093,930,000
• 10 Day Avg. Volume: 20,445,809
• 30 Day Avg. Volume: 19,014,879
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.92
• Enterprise Value/Revenue: 16.71
• Enterprise Value/Gross Profit: 22.86
• Enterprise Value/Ebitda: 28.07
• 1Y Price Target: $1.42
• Price Target Upside: 15.21% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6

• Rating: 61 Neutral
• Price Target: S$1.00 ▼(-18.70% Downside)

Mapletree Logistics' overall stock score is primarily influenced by its solid financial health and attractive dividend yield. However, challenges such as declining net profit margins, high P/E ratio, and negative earnings call sentiment due to higher borrowing costs and China-related issues weigh on the score. Technical indicators suggest a neutral short-term outlook.

Positive Factors

E-commerce and Domestic Demand

Unique Asian E-commerce exposure with a focus on domestic demand.

Interest Costs

84% of its debt is hedged into fixed rates and 74% of distributable income is hedged into S$ for the next 12 months, providing stability in interest costs.

Investor Confidence

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

Negative Factors

China Rental Reversion

Rental reversion in China remained negative at -7.5% and is expected to remain negative for the foreseeable future.

Portfolio Occupancy

Portfolio occupancy dipped slightly due to the inclusion of the newly completed Mapletree Joo Koon Logistics Hub, which had a low take-up rate.

Revenue Decline

Mapletree Logistics Trust reported a 2.4% year-over-year drop in revenue due to income vacuum from divested properties, lower China contributions, and weaker forex.

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 demonstrates solid financial health with stable margins and effective cash management. However, declining net profit margins and revenue growth pose challenges. The balance sheet reflects a balanced leverage strategy, but improving return on equity should be a focus to enhance investor confidence.

Income Statement

Mapletree Logistics shows a stable gross profit margin around 73%, indicating efficient cost management. However, the net profit margin has decreased significantly from previous years, reflecting potential challenges in maintaining profitability. Revenue growth has been negative recently, suggesting a need for strategic initiatives to boost sales.

Balance Sheet

The company's debt-to-equity ratio is moderate at approximately 0.80, indicating a balanced approach to leveraging. However, the return on equity has declined over the years, which may concern investors looking for strong returns. The equity ratio remains stable, reflecting a solid asset base.

Cash Flow

Operating cash flow is robust, with a healthy free cash flow to net income ratio of 1.0, indicating strong cash generation relative to earnings. Free cash flow growth is positive, suggesting effective cash management. However, the operating cash flow to net income ratio has room for improvement.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	714.04M	714.78M	733.89M	735.26M	680.02M	567.35M
Gross Profit	521.83M	520.71M	543.78M	538.09M	504.61M	435.42M
EBITDA	425.00M	429.02M	536.63M	533.21M	502.93M	434.72M
Net Income	204.66M	207.77M	327.48M	566.58M	782.44M	462.73M
Balance Sheet
Total Assets	13.62B	13.89B	13.81B	13.42B	13.69B	11.20B
Cash, Cash Equivalents and Short-Term Investments	315.05M	299.01M	304.82M	302.50M	338.62M	280.76M
Total Debt	5.62B	5.67B	5.40B	5.55B	5.64B	4.77B
Total Liabilities	6.60B	6.65B	6.33B	6.48B	6.60B	5.52B
Stockholders Equity	6.99B	6.64B	7.47B	6.93B	7.07B	5.68B
Cash Flow
Free Cash Flow	542.51M	536.03M	573.49M	467.26M	390.11M	352.23M
Operating Cash Flow	542.51M	536.03M	573.49M	470.63M	385.83M	352.41M
Investing Cash Flow	-61.57M	-243.69M	-844.25M	-235.41M	-1.61B	-1.27B
Financing Cash Flow	-463.76M	-286.74M	280.62M	-245.99M	1.28B	1.05B

Mapletree Logistics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.23
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 1.23 is above the 20-day moving average (MA) of 1.18, above the 50-day MA of 1.17, and above the 200-day MA of 1.17, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 69.71 is Neutral, neither overbought nor oversold. The STOCH value of 82.22 is Negative, 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	67 Neutral	S$1.11B	33.75	3.17%	7.07%	5.21%	-25.46%
Sector *	65 Neutral	$2.10B	15.81	3.79%	4.98%	4.78%	6.63%
M44U	61 Neutral	$6.21B	34.08	2.72%	6.34%	-1.47%	-39.12%
CGIUF	―	$1.73B	―	-4.88%	7.86%	―	―
FSRPF	―	$3.11B	15.88	2.80%	4.38%	―	―
FRLOF	―	$2.73B	27.11	3.21%	6.61%	―	―
DHLU	73 Outperform	S$402.43M	13.52	5.87%	7.90%	-5.80%	-27.16%

Mapletree Logistics Corporate Events

Mapletree Logistics Trust Issues New Units for Fee Payments

Mapletree Logistics Trust has announced the issuance of 18,781,513 new units as part of its fee payment structure for certain properties. This issuance, effective from 15 August 2025, includes units allocated for base fees, performance fees, and property and lease management fees, reflecting the trust’s ongoing strategy to manage its financial obligations and maintain its operational efficiency across its diverse property portfolio.

The most recent analyst rating on (SG:M44U) stock is a Buy with a S$1.56 price target. To see the full list of analyst forecasts on Mapletree Logistics stock, see the SG:M44U Stock Forecast page.

Mapletree Logistics Trust Renews Property Management Contract

Mapletree Logistics Trust has renewed the appointment of Mapletree Property Management Pte. Ltd. as its property manager for another five years, from July 2025 to July 2030. This renewal, under the same terms and conditions as the existing agreements, is expected to maintain stability in the trust’s property management operations, potentially benefiting stakeholders by ensuring consistent management practices.

The most recent analyst rating on (SG:M44U) stock is a Buy with a S$1.56 price target. To see the full list of analyst forecasts on Mapletree Logistics stock, see the SG:M44U Stock Forecast page.

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.