Ascendas Real Estate Investment (A17U) Fair Value & Analysis
Real Estate · SG · Market cap 12.2B SGD (≈ $9.6B) · ISIN SG1M77906915
What is Ascendas Real Estate Investment really worth?
A solid business, but trading 19% above our fair value of 2.00 SGD.
Strengths
Risks
For context
Fair value as of: Aug 28, 2026
From 15 valuation models · updated 8 days ago
Share price −6.0% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.
How to read this chart
60‑month range 1.97 SGD – 2.73 SGD · fair‑value band 1.50 SGD – 2.68 SGD · the 2.38 SGD price screens above the 2.00 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 28, 2026.
Analysis
Ascendas Real Estate Investment (A17U) currently trades at 2.38 SGD, while our model-based Fair Value estimate is 2.00 SGD, implying the stock looks roughly 19.0% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Real Estate sector. Bull case: the Growth DCF group reads highest at a median of 3.30 SGD per share, and 7 of the 15 models we run sit above the 2.38 SGD price. Bear case: the Asset-Based group reads lowest at 1.46 SGD, and 8 of the 15 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Ascendas Real Estate Investment generated revenue of 925M SGD at a net margin of 57.5%. Revenue grew 5.9% year over year. It earns a return on equity of 7.1%. Net debt stands at 7.1B SGD. Fundamentals as of Aug 28, 2026
Our scenario range runs from 1.50 SGD (bear case) to 2.68 SGD (bull case); at 2.38 SGD, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −44% fair-value upside, at −16%, A17U screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 0.0067 SGD per share, which is 0.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 15 models by family
Widest divergence: Growth DCF (3.30 SGD) versus Asset-Based (1.46 SGD). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 50
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
CapitaLand Ascendas REIT (CLAR) is Singapore's first and largest listed business space and industrial real estate investment trust. It was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in November 2002.
Full company description
CapitaLand Ascendas REIT (CLAR) is Singapore's first and largest listed business space and industrial real estate investment trust. It was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in November 2002. CLAR has since grown to be a global REIT anchored in Singapore, with a strong focus on technology and logistics properties in developed markets. As of 31 December 2025, its investment properties under management stood at 18.2 billion US dollars. It owns a total of 226 properties across three segments, namely Business Space & Life Sciences; Industrial & Data Centres; and Logistics. These properties are in the developed markets of Singapore, Australia, the US, and the UK/Europe. These properties house a tenant base of 1,731 international and local companies from a wide range of industries and activities, including data centres, information technology, engineering, logistics and supply chain management, biomedical sciences, financial services (backroom office support), electronics, government and other manufacturing and services industries. Major tenants include Sea Group, DSO National Laboratories, Stripe, Entserve UK, Singtel, DHL, Seagate Singapore, DBS Bank and Citibank. CapitalLand Ascendas REIT was established on October 09, 2002 and was incorporated in 2002 in Singapore.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ascendas Real Estate Investment reported revenue of 1.5B SGD in FY2025 versus 1.2B SGD in FY2021, a compound +5.8%/yr. Reported net income was 780M SGD in FY2025, compounding −5.0%/yr from FY2021.
of which total revenue +8.8 % · buybacks/dilution −5.7 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
A17U screens 19% overvalued. Compare with Prologis, Inc →
Peer Group
REIT - Industrial · 56 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Industrial median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $140.70 | $61.28 | −56% |
| Public Storage, a member of the S&P 500, PSA | $311.20 | $162.43 | −48% |
| Extra Space Storage Inc EXR | $140.12 | $78.38 | −44% |
| EastGroup Properties, Inc EGP | $198.47 | $81.41 | −59% |
| Lineage, Inc LINE | $39.32 | $47.91 | +22% |
| CubeSmart CUBE | $39.73 | $25.06 | −37% |
| First Industrial Realty Trust, Inc FR | $62.39 | $20.72 | −67% |
| Rexford Industrial Realty, Inc REXR | $36.39 | $20.69 | −43% |
| STAG Industrial, Inc STAG | $37.18 | $21.64 | −42% |
| Terreno Realty Corporation TRNO | $66.59 | $36.59 | −45% |
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