Mapletree Logistics (M44U) AI Stock Analysis

• Market Cap: $6.72B
• Dividend Yield: 5.7%
• Average Volume (3M): 14.75M
• Price to Earnings (P/E): 31.7
• Beta (1Y): 1.02
• 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: 5,093,930,000
• 10 Day Avg. Volume: 13,979,400
• 30 Day Avg. Volume: 14,754,155
• 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: 1.77
• Enterprise Value/Revenue: 16.71
• Enterprise Value/Gross Profit: 22.86
• Enterprise Value/Ebitda: 28.07
• 1Y Price Target: $1.58
• Price Target Upside: 20.23% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: S$1.50 ▲(14.50% Upside)

Mapletree Logistics Trust shows solid financial health and strong cash flow, which are significant strengths. However, the high P/E ratio and overbought technical indicators suggest caution. The earnings call presented a mixed outlook with improvements in occupancy and sustainability, but revenue and income declines pose challenges. The attractive dividend yield provides some support to the valuation.

Positive Factors

Strong Cash Flow

Strong cash flow indicates effective cash management and provides the company with the liquidity needed to invest in growth opportunities and weather economic fluctuations.

Sustainability Initiatives

Commitment to sustainability enhances the company's reputation and aligns with global trends towards green energy, potentially attracting environmentally conscious tenants and investors.

High Occupancy Rates

High occupancy rates reflect strong demand for logistics properties and effective asset management, ensuring stable rental income and reducing vacancy risks.

Negative Factors

Revenue Decline

Declining revenue can strain profitability and limit the company's ability to reinvest in its portfolio, potentially impacting long-term growth and competitive positioning.

Drop in Distribution Per Unit

A decrease in distribution per unit may reduce investor appeal and signal challenges in maintaining income levels, affecting shareholder returns and market confidence.

Negative Rent Reversion in China

Negative rent reversion in China suggests difficulties in maintaining or increasing rental rates, which could impact revenue growth and profitability in a key market.

Mapletree Logistics Business Overview & Revenue Model

Company Description

MLT, the first Asia-focused logistics REIT in Singapore, was listed on the SGX-ST main board on 28 July 2005. MLT's principal strategy is to invest in a diversified portfolio of income-producing logistics real estate and real estate-related assets. As at 31 December 2020, it has a portfolio of 156 logistics assets in Singapore, Hong Kong SAR, Japan, China, Australia, Malaysia, South Korea and Vietnam with assets under management of S$10.2 billion. MLT is managed by Mapletree Logistics Trust Management Ltd., a wholly-owned subsidiary of Mapletree Investments Pte Ltd.

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 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: 1.31
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• 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 1.31 is above the 20-day moving average (MA) of 1.28, above the 50-day MA of 1.25, and above the 200-day MA of 1.17, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 61.81 is Neutral, neither overbought nor oversold. The STOCH value of 44.44 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$402.43M	13.40	5.87%	8.04%	-5.80%	-27.16%
BUOU	72 Outperform	$3.55B	26.33	3.21%	7.72%	11.98%	―
TQ5	71 Outperform	$4.08B	15.52	2.80%	4.33%	19.82%	―
O5RU	70 Outperform	S$1.13B	34.24	3.38%	6.96%	1.72%	-21.69%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
M44U	64 Neutral	$6.72B	31.73	3.18%	5.70%	-1.81%	-18.43%
9A4U	56 Neutral	S$2.24B	-19.62	-4.88%	6.64%	10.51%	-40.93%

Mapletree Logistics Corporate Events

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.

The most recent analyst rating on (SG:M44U) stock is a Hold with a S$1.00 price target. To see the full list of analyst forecasts on Mapletree Logistics stock, see the SG:M44U Stock Forecast page.

Mapletree Logistics Trust Conducts 16th Annual General Meeting

Mapletree Logistics Trust held its 16th Annual General Meeting on July 21, 2025, at Mapletree Business City in Singapore. The meeting was attended by unitholders, directors, management, and representatives from various associated firms, including HSBC Institutional Trust Services and PricewaterhouseCoopers. The meeting confirmed the presence of a quorum and introduced KPMG LLP as the proposed incoming auditor, indicating a potential shift in auditing services that could impact the trust’s financial oversight.

The most recent analyst rating on (SG:M44U) stock is a Hold with a S$1.00 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 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.