Starhill Global Real Estate Investment (P40U) AI Stock Analysis

• Market Cap: S$1.33B
• Dividend Yield: 6.35%
• Average Volume (3M): 1.38M
• Price to Earnings (P/E): 12.1
• Beta (1Y): 0.41
• Revenue Growth: 0.70%
• EPS Growth: 71.84%
• Country: SG
• Employees: 76
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Retail
• EPS (TTM): N/A
• Shares Outstanding: 2,314,358,000
• 10 Day Avg. Volume: 1,377,810
• 30 Day Avg. Volume: 1,376,496
• PEG Ratio: 0.18
• Price to Book (P/B): 0.67
• Price to Sales (P/S): 6.07
• P/FCF Ratio: 10.13
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 78 Outperform
• Price Target: S$0.50 ▼(-13.79% Downside)

Starhill Global Real Estate Investment's strong financial performance and stable valuation are the primary drivers of its overall score. The technical analysis suggests positive momentum, although caution is advised due to potential overbought conditions. The absence of earnings call data and corporate events does not impact the score.

Positive Factors

Revenue Growth

The significant revenue growth indicates strong demand for its properties and effective asset management, enhancing long-term income stability.

Financial Flexibility

Issuing perpetual securities enhances financial flexibility, allowing the company to manage debt efficiently and invest in growth opportunities.

Sustainability Initiatives

The sustainability-linked loan supports refinancing efforts and aligns with ESG goals, potentially attracting more investors focused on sustainability.

Negative Factors

Free Cash Flow Decline

A decline in free cash flow growth could impact liquidity and limit the company's ability to reinvest in its portfolio or manage debt effectively.

Gross Profit Margin Pressure

Decreasing gross profit margins suggest rising costs or pricing pressures, which could affect profitability if not managed properly.

Management Changes

Frequent management changes can lead to strategic shifts and potential instability, impacting long-term governance and decision-making consistency.

Starhill Global Real Estate Investment Business Overview & Revenue Model

Company Description

Starhill Global Real Estate Investment (P40U) is a real estate investment trust (REIT) focused on investing in a diversified portfolio of income-producing real estate assets, primarily in the retail and hospitality sectors. The company operates a range of properties, including shopping malls, hotels, and office buildings, primarily located in key markets across Asia and Australia. By acquiring high-quality assets and managing them effectively, Starhill Global aims to provide stable returns to its unitholders through rental income and property appreciation.

How the Company Makes Money

Starhill Global generates revenue primarily through rental income derived from its portfolio of properties. The company leases retail spaces in shopping malls, hotel accommodations, and office units to tenants, which provides a steady cash flow. Additionally, Starhill Global benefits from property management fees, which are charged for managing the assets on behalf of its unitholders. The REIT may also realize capital gains when it sells properties at a profit. Significant partnerships with retail brands and hospitality operators enhance occupancy rates and drive revenue growth. Furthermore, strategic asset acquisitions and ongoing property enhancements contribute to its earnings by increasing the overall value and appeal of its real estate holdings.

Starhill Global Real Estate Investment Financial Statement Overview

Summary

Starhill Global Real Estate Investment shows strong financial performance with impressive revenue growth and profitability margins. The balance sheet is stable with moderate leverage, and the company effectively generates cash flow relative to its earnings. Minor concerns include a decrease in free cash flow growth and gross profit margin.

Income Statement

Starhill Global Real Estate Investment has demonstrated strong revenue growth with a 33.1% increase in the latest period. The company maintains robust profitability, evidenced by a high EBIT margin of 83.06% and a net profit margin of 45.72%. These metrics indicate efficient operations and strong cost management. However, the gross profit margin has slightly decreased from previous years, suggesting potential pressure on cost of goods sold.

Balance Sheet

The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.59, indicating moderate leverage. The return on equity has improved to 5.04%, showcasing better utilization of equity capital. However, the equity ratio stands at 61.17%, suggesting a balanced but slightly leveraged capital structure. Overall, the company maintains a healthy balance between debt and equity.

Cash Flow

Cash flow analysis reveals a slight decline in free cash flow growth by 5.8%, which could be a concern for future liquidity. However, the operating cash flow to net income ratio of 1.24 indicates strong cash generation relative to net income. The free cash flow to net income ratio of 0.92 suggests that the company is effectively converting its earnings into free cash flow, despite the recent decline.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	191.46M	192.10M	189.82M	188.19M	184.46M	171.60M
Gross Profit	137.17M	130.07M	136.04M	132.80M	126.80M	110.49M
EBITDA	130.84M	159.56M	115.88M	136.00M	143.51M	120.01M
Net Income	64.14M	87.82M	62.67M	28.17M	49.95M	54.43M
Balance Sheet
Total Assets	2.83B	2.85B	2.84B	2.86B	3.00B	3.08B
Cash, Cash Equivalents and Short-Term Investments	69.21M	84.46M	60.57M	68.30M	85.66M	108.32M
Total Debt	1.03B	1.02B	1.04B	1.15B	1.18B	1.21B
Total Liabilities	1.10B	1.10B	1.12B	1.21B	1.25B	1.29B
Stockholders Equity	1.73B	1.74B	1.62B	1.65B	1.75B	1.79B
Cash Flow
Free Cash Flow	122.15M	115.07M	121.86M	65.41M	84.27M	61.57M
Operating Cash Flow	128.89M	125.63M	136.60M	83.24M	84.27M	96.51M
Investing Cash Flow	10.97M	32.17M	-12.91M	612.00K	-20.08M	-34.94M
Financing Cash Flow	-131.67M	-132.43M	-130.68M	-96.01M	-82.78M	-71.94M

Starhill Global Real Estate Investment Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.58
• 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:P40U, the sentiment is Positive. The current price of 0.58 is above the 20-day moving average (MA) of 0.58, above the 50-day MA of 0.58, and above the 200-day MA of 0.53, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 48.42 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:P40U.

Starhill Global Real Estate Investment Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
P40U	78 Outperform	S$1.33B	12.08	6.62%	6.35%	0.70%	71.84%
CRPU	73 Outperform	S$844.34M	13.27	6.17%	8.93%	5.89%	1.81%
JYEU	70 Neutral	S$1.82B	28.34	2.88%	8.01%	-6.64%	-12.15%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
AU8U	65 Neutral	S$1.36B	1,300.00	0.04%	6.58%	-8.59%	-93.48%
Q5T	65 Neutral	S$1.25B	34.66	1.92%	7.10%	-3.65%	-69.86%
ADN	61 Neutral	S$1.16B	11.99	4.89%	4.51%	-6.67%	581.75%

Starhill Global Real Estate Investment Corporate Events

Starhill Global REIT Reviews FY2024/25 Performance and Strategic Initiatives at AGM

Starhill Global Real Estate Investment Trust held its 16th Annual General Meeting, where the CEO presented the financial highlights for FY2024/25, an operational review, and discussed the rejuvenation of its portfolio and ESG initiatives. The meeting provided insights into the company’s market outlook and strategic direction, potentially impacting its operations and stakeholder interests.

Starhill Global REIT Announces Redemption of Perpetual Securities

Starhill Global Real Estate Investment Trust has announced the redemption of its S$100,000,000 3.85% perpetual securities on December 15, 2025. This strategic financial move is part of the company’s broader debt management strategy, potentially impacting its financial flexibility and stakeholder returns.

Starhill Global REIT Issues New Units for Management Fee Payment

Starhill Global REIT announced the issuance of 1,345,008 new units to its manager, YTL Starhill Global REIT Management Limited, as partial payment of the base management fee for the third quarter of 2025. The issuance reflects the company’s strategy to manage its financial obligations through a combination of cash and equity, potentially impacting its unit distribution and market positioning.

Starhill Global REIT Issues S$100 Million Perpetual Securities

Starhill Global Real Estate Investment Trust has announced the issuance of S$100,000,000 3.25% Subordinated Perpetual Securities under its S$2,000,000,000 Multicurrency Debt Issuance Programme. This issuance, approved in principle by the Singapore Exchange Securities Trading Limited, is expected to enhance the company’s financial flexibility and strengthen its market position, with the securities set to be listed on the SGX-ST on 13 October 2025.

Starhill Global REIT Prices S$100 Million Perpetual Securities

Starhill Global Real Estate Investment Trust has announced the pricing of S$100 million 3.25% Subordinated Perpetual Securities under its S$2 billion Multicurrency Debt Issuance Programme. The issuance, managed by DBS Bank Ltd. and other financial institutions, targets institutional and accredited investors in Singapore, offering a flexible investment option with no fixed redemption date and a structured distribution rate, potentially enhancing the company’s financial flexibility and appeal to investors.