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STOCK COMPARISON

CapitaLand Mall Trust vs Simon Property Group: Fair Value & Quality

Both stocks run through our valuation models. Here is how CapitaLand Mall Trust (C38U) and Simon Property Group (SPG) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Simon Property Group as the less overvalued of the two: CapitaLand Mall Trust trades at S$2.34 versus a fair value of S$0.91 (-61%), while Simon Property Group trades at $212 versus $84.26 (-60%).
CapitaLand Mall Trust
C38U.SG · SGD · Real Estate
-61%
upside to fair value
overvalued
PriceS$2.34
Fair ValueS$0.91
Quality56/100
Simon Property Group
SPG · USD · Real Estate
-60%
upside to fair value
overvalued
Price$212
Fair Value$84.26
Quality57/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

CapitaLand Mall TrustSimon Property Group
Valuation
14.9×P/E (TTM)14.9×
8.86×P/S (TTM)12.26×
0.91×P/B15.65×
21.4×EV/EBITDA22.2×
7.20×PEG8.74×
−61.1%Fair value upside−60.2%
4.5%Dividend yield4.1%
S$0.11Dividend per share$8.65
Profitability
67%Operating margin43%
1.00×EBIT margin trend (5Y)1.17×
8%Return on equity114%
3%Return on assets6%
Growth
8%Revenue growth (YoY)19%
3.9%Avg. growth/yr (3Y)6.3%
16.8%Avg. growth/yr (5Y)6.7%
+22.6%Value creation/yr+9.9%
Balance & size
2.7×Interest coverage (EBIT/interest)3.3×
0.57×Debt / equity5.46×
$15BMarket cap$82B
healthyGrowth qualityhealthy

CapitaLand Mall Trust leads: 9 to 5 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

CapitaLand Mall Trustof which business quality 54 · market factors 64 Simon Property Groupof which business quality 54 · market factors 62
ProfitabilityMargins and returns on capital today
35
59
Quality GrowthAre margins and returns improving?
35
70
CashflowEarnings quality: real cash, not paper profit
86
77
Fin. StrengthBalance sheet, leverage, solvency risk
45
9
InvestmentDisciplined investing over empire-building
85
35
Low VolatilityCalm price path (market factor)
100
63
MomentumPrice trend over the last 3–12 months (market factor)
49
56
52W MomentumDistance to the 52-week high (market factor)
49
73
Net IssuanceBuybacks instead of dilution
43
83

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyCapitaLand Mall TrustPrice S$2.34Simon Property GroupPrice $212
DCF Models-71%below the priceS$0.68-54%below the price$96.96
Dividend Discount-28%below the priceS$1.68-32%below the price$144
Multiples-58%below the priceS$0.99-40%below the price$128
Asset-Based-41%below the priceS$1.39-95%below the price$10.76
Growth DCF-73%below the priceS$0.63-63%below the price$77.98
Economic Profit-27%below the priceS$1.70-56%below the price$92.53
Minimum-73%below the priceS$0.63-95%below the price$10.76
Maximum-27%below the priceS$1.70-32%below the price$144
Median-49%below the priceS$1.19-55%below the price$94.75
Geometric mean-53%below the priceS$1.09-66%below the price$71.94

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

CapitaLand Mall Trust: 16 of 16 models see the stock below the current price.

Simon Property Group: 16 of 16 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

CapitaLand Mall Trust
Bear S$0.91Fair Value S$0.91Bull S$1.81
S$2.34 = current price (white tick)
Simon Property Group
Bear $61.87Fair Value $84.26Bull $159
$212 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

CapitaLand Mall Trust · Real Estate

Quality score56 · above median
Fair value upside-61% · bottom 25%

Simon Property Group · Real Estate

Quality score57 · above median
Fair value upside-60% · bottom 25%

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Simon Property Group as the less overvalued of the two: CapitaLand Mall Trust trades at S$2.34 versus a fair value of S$0.91 (-61%), while Simon Property Group trades at $212 versus $84.26 (-60%).

Simon Property Group has the higher quality score (57/100).

See the full analysis →
CapitaLand Mall Trust · Simon Property Group

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.