
Last update at 2026-06-18T20:00:00Z
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Financial Services Roundup: Market Talk
Mon 28 Aug 23, 04:26 PM| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 835.49M | 746.25M | 161.95M | 844.78M | 1043.51M |
| Minority interest | - | - | - | - | - |
| Net income | 779.72M | 764.11M | 168.27M | 760.39M | 957.04M |
| Selling general administrative | 104.01M | 98.58M | 102.77M | 100.79M | 100.87M |
| Selling and marketing expenses | - | - | - | - | - |
| Gross profit | 1067.56M | 1049.92M | 1023.15M | 968.75M | 920.75M |
| Reconciled depreciation | - | - | - | - | - |
| Ebit | - | - | - | 868.31M | 823.18M |
| Ebitda | - | - | - | 1029.50M | 1203.76M |
| Depreciation and amortization | - | - | - | - | - |
| Non operating income net other | - | - | - | - | - |
| Operating income | 963.55M | 951.34M | 920.38M | 867.96M | 819.88M |
| Other operating expenses | - | - | - | - | - |
| Interest expense | 268.86M | 267.45M | 253.99M | 184.72M | 160.25M |
| Tax provision | 55.77M | -17.86100M | -6.32200M | 84.39M | 86.47M |
| Interest income | 2.61M | 2.92M | 2.62M | 2.25M | 6.93M |
| Net interest income | -272.83300M | -271.26500M | -256.66500M | -187.76200M | -158.88000M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | - | - | - | 84.39M | 86.47M |
| Total revenue | 1538.57M | 1523.05M | 1479.78M | 1352.69M | 1226.53M |
| Total operating expenses | 575.03M | 571.70M | 559.40M | 484.73M | 406.64M |
| Cost of revenue | 471.01M | 473.12M | 456.63M | 383.93M | 305.77M |
| Total other income expense net | - | - | - | - | - |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 779.72M | 764.11M | 168.27M | 760.39M | 957.04M |
| Net income applicable to common shares | - | - | - | 751.39M | 948.04M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 19851.18M | 18269.01M | 18269.78M | 17875.99M | 17730.49M |
| Intangible assets | - | - | - | - | - |
| Earning assets | - | - | - | - | - |
| Other current assets | - | - | - | 49.33M | 24.76M |
| Total liab | 8996.87M | 7960.49M | 8049.51M | 7609.37M | 7453.32M |
| Total stockholder equity | 10854.31M | 10308.51M | 10220.27M | 10266.62M | 10277.17M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | 79.17M | 76.66M | 73.82M | 84.67M | 210.84M |
| Common stock | - | - | - | 9967.68M | 9978.23M |
| Capital stock | 10550.11M | 10008.91M | 9921.33M | 9967.68M | 9978.23M |
| Retained earnings | - | - | - | - | - |
| Other liab | - | - | - | 390.86M | 280.39M |
| Good will | - | - | - | - | - |
| Other assets | - | - | - | 217.70M | 95.26M |
| Cash | 209.44M | 167.74M | 221.58M | 217.02M | 368.55M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 2394.42M | 1520.50M | 1603.21M | 1301.85M | 1771.33M |
| Current deferred revenue | - | - | - | - | - |
| Net debt | 7110.78M | 6357.07M | 6299.30M | 5924.98M | 5715.80M |
| Short term debt | - | - | - | - | - |
| Short long term debt | 1712.99M | 980.46M | 1053.55M | 833.03M | 1250.82M |
| Short long term debt total | - | - | - | - | - |
| Other stockholder equity | - | - | - | 298.94M | 298.94M |
| Property plant equipment | - | - | - | 17224.90M | 17144.42M |
| Total current assets | 386.09M | 350.21M | 377.19M | 362.55M | 455.62M |
| Long term investments | - | - | - | - | - |
| Net tangible assets | - | - | - | 10266.62M | 10277.17M |
| Short term investments | - | - | - | - | - |
| Net receivables | 168.09M | 30.30M | 36.39M | 96.20M | 62.83M |
| Long term debt | 5607.23M | 5544.35M | 5467.34M | 5308.96M | 4833.53M |
| Inventory | - | 0.00000M | 62.43M | - | - |
| Accounts payable | 524.63M | 412.10M | 423.54M | 344.46M | 26.91M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | - | - | - | - | - |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | - | - |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | - | - | - | - | - |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 19465.08M | 17918.80M | 17892.59M | 17513.44M | 17274.87M |
| Capital lease obligations | 661.57M | 629.91M | 646.32M | 647.31M | 604.65M |
| Long term debt total | - | - | - | - | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -62.46300M | -925.71200M | -35.61800M | -39.31200M |
| Change to liabilities | - | - | - | 188.42M | -55.92100M |
| Total cashflows from investing activities | - | - | - | -374.26300M | -1914.69100M |
| Net borrowings | 838.42M | 0.67M | 401.60M | 40.70M | 1382.85M |
| Total cash from financing activities | - | - | - | -782.36200M | 1277.39M |
| Change to operating activities | - | - | - | - | - |
| Net income | 779.72M | 764.11M | 178.48M | 760.39M | 957.04M |
| Change in cash | 40.98M | -58.84000M | 2.39M | -151.53100M | 90.57M |
| Begin period cash flow | 167.74M | 221.58M | 217.02M | 368.55M | 277.98M |
| End period cash flow | 209.44M | 167.74M | 221.58M | 217.02M | 368.55M |
| Total cash from operating activities | 1117.69M | 947.83M | 956.28M | 1017.92M | 726.76M |
| Issuance of capital stock | 500.00M | 0.00000M | 500.00M | 0.00000M | 420.00M |
| Depreciation | - | - | - | - | - |
| Other cashflows from investing activities | - | - | - | 2.56M | 8.99M |
| Dividends paid | -669.08600M | -657.75700M | 660.62M | -658.69800M | -387.46100M |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | - | - | - | -16.55000M | -26.81500M |
| Sale purchase of stock | - | - | - | - | - |
| Other cashflows from financing activities | - | - | - | -164.36600M | -138.00600M |
| Change to netincome | - | - | - | 81.22M | -152.19300M |
| Capital expenditures | 0.00000M | 0.00000M | 0.00000M | 0.00000M | 0.00000M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | 110.23M | -32.93900M | 42.45M | 171.87M | -82.73600M |
| Stock based compensation | - | - | - | - | - |
| Other non cash items | 307.37M | 297.46M | 282.02M | 212.20M | 167.72M |
| Free cash flow | 1117.69M | 947.83M | 956.28M | 1017.92M | 726.76M |
Sector: Real Estate Industry: REIT - Industrial
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| ACDSF Ascendas Real Estate Investment Trust |
- -% | 1.80 | 15.23 | 17.42 | 10.76 | 1.17 | 13.17 | 18.35 |
| PLD Prologis Inc |
3.29 2.34% | 143.83 | 42.17 | 52.08 | 14.75 | 2.25 | 18.70 | 23.08 |
| PSA Public Storage |
2.10 0.66% | 320.22 | 27.33 | 27.32 | 11.54 | 8.95 | 14.45 | 20.02 |
| PLDGP Prologis Inc |
0.78 1.49% | 52.99 | 10.93 | - | 5.05 | - | ||
| EXR Extra Space Storage Inc |
0.75 0.52% | 146.08 | 32.06 | 33.67 | 9.20 | 2.31 | 13.29 | 18.59 |
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.
168 Robinson Road, Singapore, Singapore, 068912
| Name | Title | Year Born |
|---|---|---|
| Mr. Wee Leong Tay | CEO & Exec. Non-Independent Director of Ascendas Funds Management (S) Limited (AFM) | 1971 |
| Ms. Lee Sze Koo | Chief Financial Officer of Ascendas Funds Management (S) Limited | 1970 |
| Mr. Ram Soundararajan | Head of Investment for Ascendas Funds Management (S) Limited | 1977 |
| Ms. Kit Peng Yeow | Head of Capital Markets & Investor Relations of Ascendas Funds Management (S) Limited | 1965 |
| Ms. Wylyn Liu | Mang. of Corp. & Marketing Communications | NA |
| Mr. Chat Shen Goh C.F.A., CFA | Head of Portfolio Management | NA |
| Ms. Michelle Lee | Managing Director of Europe, Investment & Portfolio Management | NA |
| Mr. Wei Seng Hon LLB | Company Sec. of Ascendas Funds Management (S) Limited | NA |
| Ms. Chai Ping Koh | Company Sec. of Ascendas Funds Management (s) Limited | NA |
| Mr. Paul Toussaint | Managing Director of Capitaland Australia | 1964 |
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