CDP Relative Valuation - Carindale Property Trust

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Price: 5.43 AUD 2.45% Market Closed

Market Cap: AU$449.3m

C	Carindale Property Trust ASX:CDP	AU
M	Maagh Advertising & Marketing Services Ltd BSE:543624	IN

Multiples-Based Value

The Multiples-Based Value of one CDP stock under the Base Case scenario is 6.93 AUD. Compared to the current market price of 5.43 AUD, Carindale Property Trust is Undervalued by 22%.

Multiples-Based Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

What is Relative Valuation?

How is Multiples-Based Value calculated?

CDP Multiples-Based Value

Base Case

Undervaluation 22%

Multiples-Based Value

Price

Worst Case

Base Case

Best Case

Valuation Multiples

View Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
AU	C	Carindale Property Trust ASX:CDP	449.3m AUD	7.1	8.9	16.4	16.4
US		Simon Property Group Inc NYSE:SPG	59.1B USD	9.3	12.8	18.3	27.3
US		Realty Income Corp NYSE:O	56.1B USD	9.8	53.2	16.7	32.9
SG		CapitaLand Integrated Commercial Trust SGX:C38U	17.5B	0	0	0	0
US		Kimco Realty Corp NYSE:KIM	15.1B USD	7	27.2	17	31.9
US		Regency Centers Corp NASDAQ:REG	13.6B USD	8.8	26.5	18.4	31.3
AU		Scentre Group ASX:SCG	17.9B AUD	6.6	9.9	16.6	16.6
HK		Link Real Estate Investment Trust HKEX:823	94.7B HKD	6.6	-13.7	14.5	14.5
FR		Klepierre SA PAR:LI	9B EUR	5.7	6.9	14.3	14.6
US		Federal Realty Investment Trust NYSE:FRT	8.9B USD	7	22.1	17	31
US		Agree Realty Corp NYSE:ADC	8.9B USD	12.4	45.4	21.5	36.3

				Revenue Growth	P/S to Growth
AU	C	Carindale Property Trust ASX:CDP	Average P/S: 8 7.1	-7%	N/A
US		Simon Property Group Inc NYSE:SPG	9.3	3%	3.1
US		Realty Income Corp NYSE:O	9.8	7%	1.4
SG		CapitaLand Integrated Commercial Trust SGX:C38U	Not Available	4%	N/A
US		Kimco Realty Corp NYSE:KIM	7	3%	2.3
US		Regency Centers Corp NASDAQ:REG	8.8	1%	8.8
AU		Scentre Group ASX:SCG	6.6	0%	N/A
HK		Link Real Estate Investment Trust HKEX:823	6.6	0%	N/A
FR		Klepierre SA PAR:LI	5.7	-3%	N/A
US		Federal Realty Investment Trust NYSE:FRT	7	6%	1.2
US		Agree Realty Corp NYSE:ADC	12.4	10%	1.2

				Earnings Growth	PEG
AU	C	Carindale Property Trust ASX:CDP	Average P/E: 23.7 8.9	-5%	N/A
US		Simon Property Group Inc NYSE:SPG	12.8	-21%	N/A
US		Realty Income Corp NYSE:O	53.2	17%	3.1
SG		CapitaLand Integrated Commercial Trust SGX:C38U	Not Available	2%	N/A
US		Kimco Realty Corp NYSE:KIM	27.2	0%	N/A
US		Regency Centers Corp NASDAQ:REG	26.5	1%	26.5
AU		Scentre Group ASX:SCG	9.9	-9%	N/A
HK		Link Real Estate Investment Trust HKEX:823	Negative Multiple: -13.7	N/A	N/A
FR		Klepierre SA PAR:LI	6.9	-14%	N/A
US		Federal Realty Investment Trust NYSE:FRT	22.1	-9%	N/A
US		Agree Realty Corp NYSE:ADC	45.4	10%	4.5

				EBITDA Growth	EV/EBITDA to Growth
AU	C	Carindale Property Trust ASX:CDP	Average EV/EBITDA: 17.1 16.4	5%	3.3
US		Simon Property Group Inc NYSE:SPG	18.3	4%	4.6
US		Realty Income Corp NYSE:O	16.7	10%	1.7
SG		CapitaLand Integrated Commercial Trust SGX:C38U	Not Available	6%	N/A
US		Kimco Realty Corp NYSE:KIM	17	8%	2.1
US		Regency Centers Corp NASDAQ:REG	18.4	7%	2.6
AU		Scentre Group ASX:SCG	16.6	7%	2.4
HK		Link Real Estate Investment Trust HKEX:823	14.5	0%	N/A
FR		Klepierre SA PAR:LI	14.3	4%	3.6
US		Federal Realty Investment Trust NYSE:FRT	17	5%	3.4
US		Agree Realty Corp NYSE:ADC	21.5	18%	1.2

				EBIT Growth	EV/EBIT to Growth
AU	C	Carindale Property Trust ASX:CDP	Average EV/EBIT: 25.3 16.4	5%	3.3
US		Simon Property Group Inc NYSE:SPG	27.3	7%	3.9
US		Realty Income Corp NYSE:O	32.9	10%	3.3
SG		CapitaLand Integrated Commercial Trust SGX:C38U	Not Available	5%	N/A
US		Kimco Realty Corp NYSE:KIM	31.9	8%	4
US		Regency Centers Corp NASDAQ:REG	31.3	9%	3.5
AU		Scentre Group ASX:SCG	16.6	7%	2.4
HK		Link Real Estate Investment Trust HKEX:823	14.5	0%	N/A
FR		Klepierre SA PAR:LI	14.6	11%	1.3
US		Federal Realty Investment Trust NYSE:FRT	31	-3%	N/A
US		Agree Realty Corp NYSE:ADC	36.3	16%	2.3

Carindale Property Trust
ASX:CDP

Multiples-Based Value

Valuation Multiples

Multiples Across Competitors

CDP Competitors Multiples
Carindale Property Trust Competitors

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Stocks

Carindale Property Trust ASX:CDP

Multiples-Based Value

Valuation Multiples

Multiples Across Competitors

CDP Competitors Multiples Carindale Property Trust Competitors

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Company

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Stocks

Carindale Property Trust
ASX:CDP

CDP Competitors Multiples
Carindale Property Trust Competitors