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Frasers Logistics & Industrial (BUOU) Fair Value & Analysis

Real Estate · SG · Market cap 3.6B SGD (≈ $2.9B) · ISIN SG1CI9000006

What is Frasers Logistics & Industrial really worth?

FL Frasers Logistics & Industrial BUOU · SG
Price0.9150 SGD
Fair Value0.8600 SGD
Upside−6.0%
Quality61/100

A solid business, currently priced close to our fair value of 0.8600 SGD.

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Strengths

Highly profitable · 44.5% net margin
Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +7.3 %/yr)
!Mixed vs. peers (7/15)
!Moderate moat 62/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 25 out of 100
!Weak on future: 14 out of 100

For context

·6.45% dividend yield
Evidence: Low Range 0.6000 SGD – 1.07 SGD

Fair value as of: Aug 28, 2026

From 14 valuation models · updated 8 days ago

Share price −7.1% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

1.15 SGD 0.7160 SGD Fair Value 0.8600 SGD Jun 2021 Sep 2026

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 0.7160 SGD – 1.15 SGD · fair‑value band 0.6000 SGD – 1.07 SGD · the 0.9150 SGD price screens above the 0.8600 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.

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Analysis

Frasers Logistics & Industrial (BUOU) currently trades at 0.9150 SGD, while our model-based Fair Value estimate is 0.8600 SGD, implying the stock looks roughly 6.4% fairly valued today. The Quality Score stands at 61/100 (solid quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of 0.8700 SGD per share, and 4 of the 14 models we run sit above the 0.9150 SGD price. Bear case: the Growth DCF group reads lowest at 0.6300 SGD, and 10 of the 14 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Frasers Logistics & Industrial generated revenue of 478M SGD at a net margin of 44.5%. Revenue grew 2.8% year over year. It earns a return on equity of 5.2%. Net debt stands at 2.2B SGD. Fundamentals as of Aug 28, 2026

Our scenario range runs from 0.6000 SGD (bear case) to 1.07 SGD (bull case); at 0.9150 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 10% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −43% fair-value upside, at −6%, BUOU screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 11 months have passed since. In that time the company retained roughly 0.0009 SGD per share, which is 0.1 % 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence 0.8300 SGD 0.8300 SGD 0.7700 SGD 76
FCF DCF 0.3300 SGD 0.8700 SGD 1.75 SGD 74
Growth DCF 0.3200 SGD 0.8300 SGD 1.62 SGD 73
All 14 models by family
DCF Models
FCF DCF 0.3300 SGD 0.8700 SGD 1.75 SGD 74
5Y Revenue Exit 0.2000 SGD 0.6400 SGD 1.22 SGD 67
5Y EBITDA Exit 0.4000 SGD 1.05 SGD 1.84 SGD 71
10Y Revenue Exit 0.2200 SGD 0.6400 SGD 1.25 SGD 62
10Y EBITDA Exit 0.3700 SGD 0.9300 SGD 1.74 SGD 64
Multiples
P/S Multiple 0.6000 SGD 0.8100 SGD 1.01 SGD 58
P/B Multiple 0.6900 SGD 0.9200 SGD 1.15 SGD 55
EV/EBIT 0.8300 SGD 1.25 SGD 1.68 SGD 65
EV/EBITDA 0.5300 SGD 0.8600 SGD 1.19 SGD 66
EV/Revenue 0.1500 SGD 0.4100 SGD 0.6700 SGD 50
Asset-Based
NCAV (Graham) 0.5500 SGD 0.7400 SGD 1.10 SGD 54
Growth DCF
Growth DCF 0.3200 SGD 0.8300 SGD 1.62 SGD 73
Rev-Margin DCF 0.2000 SGD 0.6300 SGD 1.15 SGD 68
Economic Profit
Residual Income best evidence 0.8300 SGD 0.8300 SGD 0.7700 SGD 76

Widest divergence: DCF Models (0.8700 SGD) versus Growth DCF (0.6300 SGD). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 15.3
P/S ratio 6.63 P/E × margin
EPS (TTM) 0.0600 SGD price ÷ EPS = P/E 15.3
Dividend yield 6.4% payout 98.3%
Net margin 43.5% FY2025
Return on equity 5.2% TTM
More key figures
Profitability
Return on assets (EBIT) 4.0% avg 5y
Operating margin 64.2% TTM
Growth
Revenue (TTM) 478M SGD TTM
Revenue growth (YoY) +2.8% 3y avg +1.6%
EPS growth (YoY) +8.9%
Balance sheet & cash flow
Free cash flow 252M SGD FY2025
Net debt 2.2B SGD FY2025 · ≈ 8.8 yrs of FCF

Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 59 · Market factors (momentum, volatility) 59

Profitability 34
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 86
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)
Net Issuance 76
Buybacks instead of dilution

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

Frasers Logistics & Commercial Trust is a Singapore-listed real estate investment trust. With a portfolio comprising 113 industrial and commercial properties, worth approximately S7.0 billion dollars as at 31 March 2026, diversified across five major developed markets " Australia, Germany, Singapore, the United Kingdom and the Netherlands.

Full company description

Frasers Logistics & Commercial Trust is a Singapore-listed real estate investment trust. With a portfolio comprising 113 industrial and commercial properties, worth approximately S7.0 billion dollars as at 31 March 2026, diversified across five major developed markets " Australia, Germany, Singapore, the United Kingdom and the Netherlands. FLCT was listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX-ST) on 20 June 2016 as Frasers Logistics & Industrial Trust and was subsequently renamed Frasers Logistics & Commercial Trust on 29 April 2020 following the completion of a merger with Frasers Commercial Trust. FLCT's investment strategy is to invest globally in a diversified portfolio of income-producing properties used predominantly for logistics or industrial purposes located globally, or commercial purposes (comprising primarily CBD office space) or business park purposes (comprising primarily non-CBD office space and/or research and development space) located in the Asia-Pacific region or in Europe (including the United Kingdom). FLCT is sponsored by Frasers Property Limited. FLCT is a constituent of the FTSE EPRA Nareit Global Real Estate Index Series (Global Developed Index), Straits Times Index and Global Property Research (GPR) 250. Frasers Logistics & Commercial Trust was established on November 30, 2015 and incorporated in Singapore.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Frasers Logistics & Industrial reported revenue of 471M SGD in FY2025 versus 469M SGD in FY2021, a compound +0.1%/yr. Reported net income was 205M SGD in FY2025, compounding −27.2%/yr from FY2021.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
471M SGD
Latest YoY
+5.6%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.6%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.3%
Avg. revenue growth/yr (11Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
−0.1% (−6.5 + 6.4)
Revenue +0.1%/yr
FY21 469M SGD
FY22 450M SGD
FY23 421M SGD
FY24 447M SGD
FY25 471M SGD
Net income −27.2%/yr
FY21 731M SGD
FY22 729M SGD
FY23 −103M SGD
FY24 148M SGD
FY25 205M SGD

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Cite: Fair Value Calculator (2026). "Frasers Logistics & Industrial Fair Value". https://www.fairvalue-calculator.com/stock/BUOU

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.

Quality Score 62 · Above median
Fair Value upside −6% · Above median
Return on equity (TTM) 5% · Below median
Return on assets 3% · Below median
Net margin (TTM) 45% · Below median
Operating margin (TTM) 64% · Below median
Revenue growth 3% · Below median
Dividend yield (TTM) 6.4% · Above median
Debt / equity 0.49× · Higher than median

Valuation Multiples vs REIT - Industrial median · lower = cheaper

P/E (TTM) 15.3× · Pricier than median
P/B 0.68× · Cheaper than median
P/S (TTM) 5.97× · Cheaper than median
P/FCF 11.3× · Cheaper than median
EV/EBITDA 15.1× · Cheaper than median
PEG 7.20× · Pricier than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE25 · sector 7
FUTURE14 · sector 16
PAST21 · sector 29
HEALTH76 · sector 77
DIVIDEND100 · sector 100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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%
CapitaLand Ascendas REIT (CLAR) A17U 2.44 SGD 2.00 SGD −18%
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%

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Frequently asked questions

Is Frasers Logistics & Industrial (BUOU) overvalued or undervalued?
As of Aug 28, 2026, our model estimates a fair value of 0.8600 SGD versus a price of 0.9150 SGD, about −6% upside (fairly valued).
What is the fair value of BUOU?
Our model-based fair value for Frasers Logistics & Industrial is 0.8600 SGD (as of Aug 28, 2026), built from audited fundamentals. The current price: 0.9150 SGD.
What is the quality score of BUOU?
Frasers Logistics & Industrial has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Frasers Logistics & Industrial (BUOU)?
Frasers Logistics & Industrial reported trailing-twelve-month revenue of about 478M SGD (latest available figure, as of Aug 28, 2026).
What is the net profit margin of BUOU?
The net profit margin of Frasers Logistics & Industrial is about 44.5%, meaning it keeps roughly 44.5% of revenue as net income. Based on the latest reported figures.
Does Frasers Logistics & Industrial pay a dividend?
Frasers Logistics & Industrial currently shows a dividend yield of about 6.45% relative to its recent price (as of Aug 28, 2026).
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