Link Real Estate Investment Trust
HKEX:823
Decide at what price you'd be comfortable buying and we'll help you stay ready.
|
Johnson & Johnson
NYSE:JNJ
|
US |
|
Berkshire Hathaway Inc
NYSE:BRK.A
|
US |
|
Bank of America Corp
NYSE:BAC
|
US |
|
Mastercard Inc
NYSE:MA
|
US |
|
UnitedHealth Group Inc
NYSE:UNH
|
US |
|
Exxon Mobil Corp
NYSE:XOM
|
US |
|
Pfizer Inc
NYSE:PFE
|
US |
|
Nike Inc
NYSE:NKE
|
US |
|
Visa Inc
NYSE:V
|
US |
|
Alibaba Group Holding Ltd
NYSE:BABA
|
CN |
|
JPMorgan Chase & Co
NYSE:JPM
|
US |
|
Coca-Cola Co
NYSE:KO
|
US |
|
Verizon Communications Inc
NYSE:VZ
|
US |
|
Chevron Corp
NYSE:CVX
|
US |
|
Walt Disney Co
NYSE:DIS
|
US |
|
PayPal Holdings Inc
NASDAQ:PYPL
|
US |
EV/EBITDA
Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.
Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.
Valuation Scenarios
If EV/EBITDA returns to its 3-Year Average (14.3), the stock would be worth HK$36.25 (6% downside from current price).
| Scenario | EV/EBITDA Value | Implied Price | Upside/Downside |
|---|---|---|---|
| Current Multiple | 15.1 | HK$38.5 |
0%
|
| 3-Year Average | 14.3 | HK$36.25 |
-6%
|
| 5-Year Average | 15 | HK$38.19 |
-1%
|
| Industry Average | 13.8 | HK$35.2 |
-9%
|
| Country Average | 9.6 | HK$24.33 |
-37%
|
Forward EV/EBITDA
Today’s price vs future ebitda
| Today's Enterprise Value | EBITDA | Forward EV/EBITDA | ||
|---|---|---|---|---|
|
HK$142.8B
|
/ |
Oct 2025
HK$9.5B
|
= |
|
|
HK$142.8B
|
/ |
Mar 2026
HK$9.5B
|
= |
|
|
HK$142.8B
|
/ |
Mar 2027
HK$9.5B
|
= |
|
|
HK$142.8B
|
/ |
Mar 2028
HK$9.6B
|
= |
|
Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.
Peer Comparison
| Market Cap | EV/EBITDA | P/E | ||||
|---|---|---|---|---|---|---|
| HK |
|
Link Real Estate Investment Trust
HKEX:823
|
100.5B HKD | 15.1 | -14.7 | |
| US |
|
Simon Property Group Inc
NYSE:SPG
|
65.4B USD | 19.6 | 14.2 | |
| US |
|
Realty Income Corp
NYSE:O
|
59.1B USD | 17.1 | 55.9 | |
| SG |
|
CapitaLand Integrated Commercial Trust
SGX:C38U
|
18.9B | 0 | 0 | |
| US |
|
Kimco Realty Corp
NYSE:KIM
|
16B USD | 17.8 | 29 | |
| US |
|
Regency Centers Corp
NASDAQ:REG
|
14.6B USD | 19.5 | 28.5 | |
| AU |
|
Scentre Group
ASX:SCG
|
19.2B AUD | 17.5 | 10.8 | |
| FR |
|
Klepierre SA
PAR:LI
|
10B EUR | 16.3 | 7.7 | |
| US |
|
Federal Realty Investment Trust
NYSE:FRT
|
9.6B USD | 17.8 | 23.7 | |
| US |
|
Brixmor Property Group Inc
NYSE:BRX
|
9.3B USD | 15.1 | 24.1 | |
| US |
|
Agree Realty Corp
NYSE:ADC
|
9.2B USD | 22 | 46.9 |
Market Distribution
| Min | 0 |
| 30th Percentile | 4.8 |
| Median | 9.6 |
| 70th Percentile | 14.9 |
| Max | 9 749.3 |
Other Multiples
Link Real Estate Investment Trust
Glance View
Link Real Estate Investment Trust, often referred to as Link REIT, is a prominent player in the Asian real estate market, known for its diverse portfolio specializing in retail properties. Founded in 2005, Link REIT emerged from a substantial privatization initiative where retail and parking facilities in public housing estates were revamped for the open market. This strategic move allowed the company to tap into a robust stream of rental income while catering to the everyday needs of city dwellers in densely populated urban areas. By acquiring retail spaces in prime locations and managing them efficiently, Link has carved a niche for itself, particularly in Hong Kong, leveraging its strong understanding of community dynamics and consumer behavior. The trust generates revenue primarily through its leasing activities, where retail space is rented out to a spectrum of tenants ranging from large chain retailers to local businesses. Ensuring these properties meet the evolving demands of both tenants and shoppers, Link REIT invests in property enhancements and utilizes sophisticated management strategies to maintain high occupancy rates and increase rental yields. Its asset management approach blends local market expertise with global best practices, helping it to consistently deliver value to unitholders. Moreover, the expansion into Mainland China and overseas markets indicates Link's ambition to diversify and capitalize on new growth opportunities, showcasing its adaptability and forward-thinking stance in an ever-competitive real estate landscape.