Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Mapletree Industrial Trust (ME8U.SI)

Company Dividend Discount ModelIndustry: REIT - IndustrialSector: Real Estate

Valuation Snapshot

Stable Growth$5.99 - $23.63$16.41
Multi-Stage$3.00 - $3.28$3.14
Blended Fair Value$9.77
Current Price$2.13
Upside358.86%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS10.74%14.12%0.130.130.080.110.100.080.070.070.070.04
YoY Growth---4.83%63.62%-24.55%12.69%25.80%7.50%-3.83%4.01%78.01%17.54%
Dividend Yield--6.28%6.38%3.73%4.20%3.42%2.69%3.23%3.88%3.87%2.35%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)338.46
(-) Cash Dividends Paid (M)285.02
(=) Cash Retained (M)53.45
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)67.6942.3125.38
Cash Retained (M)53.4553.4553.45
(-) Cash Required (M)-67.69-42.31-25.38
(=) Excess Retained (M)-14.2511.1428.06
(/) Shares Outstanding (M)2,848.562,848.562,848.56
(=) Excess Retained per Share-0.010.000.01
LTM Dividend per Share0.100.100.10
(+) Excess Retained per Share-0.010.000.01
(=) Adjusted Dividend0.100.100.11
WACC / Discount Rate7.17%7.17%7.17%
Growth Rate5.50%6.50%7.50%
Fair Value$5.99$16.41$23.63
Upside / Downside181.12%670.38%1,009.39%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)338.46360.46383.89408.84435.42463.72477.63
Payout Ratio84.21%85.37%86.53%87.68%88.84%90.00%92.50%
Projected Dividends (M)285.02307.72332.16358.49386.83417.35441.81

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.17%7.17%7.17%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)284.42287.12289.81
Year 2 PV (M)283.77289.18294.64
Year 3 PV (M)283.08291.20299.48
Year 4 PV (M)282.34293.19304.36
Year 5 PV (M)281.55295.15309.26
PV of Terminal Value (M)7,139.287,484.117,842.13
Equity Value (M)8,554.438,939.959,339.69
Shares Outstanding (M)2,848.562,848.562,848.56
Fair Value$3.00$3.14$3.28
Upside / Downside40.99%47.34%53.93%

High-Yield Dividend Screener

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