Mapletree Logistics (M44U) AI Stock Analysis

• Market Cap: S$6.58B
• Dividend Yield: 5.88%
• Average Volume (3M): 14.75M
• Price to Earnings (P/E): 31.0
• Beta (1Y): 1.00
• Revenue Growth: -1.81%
• EPS Growth: -18.43%
• Country: SG
• Employees: 345
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): 0.02
• Shares Outstanding: 5,102,587,000
• 10 Day Avg. Volume: 13,979,400
• 30 Day Avg. Volume: 14,754,155
• PEG Ratio: -0.80
• Price to Book (P/B): 1.01
• Price to Sales (P/S): 9.34
• P/FCF Ratio: 12.45
• 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: S$1.51
• Price Target Upside: 17.97% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: S$1.50 ▲(17.19% Upside)

Mapletree Logistics Trust's overall score is driven by solid financial performance and a strong dividend yield, but is tempered by bearish technical indicators and a high P/E ratio. The neutral sentiment from the earnings call, due to revenue and income declines, further impacts the score.

Positive Factors

Strong Portfolio Occupancy

High occupancy rates indicate strong demand for logistics space, enhancing revenue stability and demonstrating effective asset management.

Commitment to Sustainability

Sustainability initiatives improve operational efficiency and appeal to environmentally conscious tenants, supporting long-term growth.

Stable Cost of Debt

Stable and low borrowing costs enhance financial flexibility and reduce risk, supporting future investment and expansion opportunities.

Negative Factors

Revenue Decline

Declining revenue due to currency depreciation and divestments may hinder growth and affect the company's ability to fund new projects.

Drop in Distribution Per Unit

A decrease in DPU can reduce investor returns and may signal challenges in maintaining profitability, impacting investor confidence.

Negative Rent Reversion in China

Negative rent reversion in China suggests challenges in maintaining rental income, potentially affecting overall revenue growth.

Mapletree Logistics Business Overview & Revenue Model

Company Description

Mapletree Logistics Trust (M44U) is a leading logistics real estate investment trust based in Singapore. It focuses on acquiring and managing a diversified portfolio of logistics properties, including warehouses, distribution centers, and integrated logistics facilities across Asia-Pacific markets. The company's strategic investments are aimed at providing high-quality logistics solutions that cater to the growing demand for e-commerce, retail, and industrial logistics services.

How the Company Makes Money

Mapletree Logistics generates revenue primarily through rental income from its portfolio of logistics properties. The company enters into long-term leases with tenants, which include prominent players in retail, e-commerce, and logistics sectors. Additionally, Mapletree Logistics benefits from rental escalations and property appreciation over time. The company's revenue model is further enhanced by its strategic partnerships with major logistics firms and its ability to optimize its asset management practices, which contribute to strong occupancy rates and favorable lease terms. Furthermore, the trust also explores development opportunities and asset enhancement initiatives to increase its earnings potential.

Mapletree Logistics Financial Statement Overview

Summary

Mapletree Logistics demonstrates solid financial health with stable margins and a balanced capital structure. While revenue growth has been a challenge, the company maintains strong cash flow and moderate leverage, positioning it well for future opportunities. Continued focus on revenue enhancement and profitability will be key to sustaining growth.

Income Statement

Mapletree Logistics shows a stable gross profit margin around 73%, indicating efficient cost management. However, the net profit margin has declined from previous highs, 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 0.80, indicating a balanced approach to leveraging. Return on equity has decreased, signaling reduced efficiency in generating returns from equity. The equity ratio remains stable, reflecting a solid capital structure.

Cash Flow

Operating cash flow is strong, with a healthy coverage ratio and consistent free cash flow generation. The free cash flow to net income ratio is robust at 1.0, highlighting effective cash management. Recent growth in free cash flow is a positive sign for future liquidity.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	708.82M	714.78M	733.89M	735.26M	680.02M	567.35M
Gross Profit	513.61M	520.71M	543.78M	538.09M	504.61M	435.42M
EBITDA	442.81M	429.02M	536.63M	533.21M	502.93M	434.72M
Net Income	228.23M	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	296.02M	299.01M	304.82M	302.50M	338.62M	280.76M
Total Debt	6.19B	5.67B	5.40B	5.55B	5.64B	4.77B
Total Liabilities	7.15B	6.65B	6.33B	6.48B	6.60B	5.52B
Stockholders Equity	6.44B	6.64B	7.47B	6.93B	7.07B	5.68B
Cash Flow
Free Cash Flow	492.10M	536.03M	573.49M	467.26M	390.11M	352.23M
Operating Cash Flow	492.10M	536.03M	573.49M	470.63M	385.83M	352.41M
Investing Cash Flow	-70.31M	-243.69M	-844.25M	-235.41M	-1.61B	-1.27B
Financing Cash Flow	-448.94M	-286.74M	280.62M	-245.99M	1.28B	1.05B

Mapletree Logistics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.28
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• 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 1.28 is below the 20-day moving average (MA) of 1.30, below the 50-day MA of 1.29, and above the 200-day MA of 1.19, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 48.37 is Neutral, neither overbought nor oversold. The STOCH value of 55.56 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
DHLU	73 Outperform	S$395.69M	13.17	5.87%	8.11%	-5.80%	-27.16%
BUOU	71 Outperform	S$3.75B	18.30	4.77%	6.01%	2.01%	38.17%
O5RU	70 Outperform	S$1.20B	34.51	3.38%	6.56%	1.72%	-21.69%
TQ5	67 Neutral	S$4.44B	19.28	2.37%	3.98%	-18.13%	40.87%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
M44U	59 Neutral	S$6.58B	31.01	3.18%	5.88%	-1.81%	-18.43%
9A4U	56 Neutral	S$2.15B	-18.78	-4.88%	7.94%	10.51%	-40.93%

Mapletree Logistics Corporate Events

Mapletree Logistics Trust Issues New Units for Fee Payments

Mapletree Logistics Trust has announced the issuance of 8,656,478 new units at S$1.2484 per unit on November 17, 2025. This issuance serves as payment for part of the base fee, property management fee, and lease management fee for certain properties for the term from July 1, 2025, to September 30, 2025, under agreements with HSBC Institutional Trust Services and Mapletree Property Management.

Mapletree Logistics Trust Issues S$75 Million Notes for Corporate Refinancing

Mapletree Logistics Trust announced the issuance of S$75 million in Series 013 Notes under its S$3 billion Euro Medium Term Securities Programme. The proceeds from these notes, which are guaranteed by HSBC Institutional Trust Services, will be used for general corporate purposes, including refinancing existing borrowings, potentially impacting the company’s financial strategy and stakeholder interests.

Mapletree Logistics Trust Secures New Loan Agreements with Key Conditions

Mapletree Logistics Trust Management Ltd. announced that three of its subsidiaries have entered into new loan agreements with conditions similar to existing debt facilities. These conditions require MLTM to remain the manager of MLT and for the manager to be a subsidiary of Mapletree Investments Pte Ltd. A breach of these conditions could affect debt facilities amounting to approximately S$5,726 million, but no breaches have occurred as of the announcement date.