Link Real Estate Investment Trust
HKEX:823
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EV/FCFF
Enterprise Value to Free Cash Flow to Firm (EV/FCFF) ratio compares a company`s total enterprise value to the free cash flow available to all investors, both debt and equity holders. It shows how much investors are paying for each dollar of cash flow the business generates before interest payments.
Enterprise Value to Free Cash Flow to Firm (EV/FCFF) ratio compares a company`s total enterprise value to the free cash flow available to all investors, both debt and equity holders. It shows how much investors are paying for each dollar of cash flow the business generates before interest payments.
Valuation Scenarios
If EV/FCFF returns to its 3-Year Average (15.6), the stock would be worth HK$36.72 (6% downside from current price).
| Scenario | EV/FCFF Value | Implied Price | Upside/Downside |
|---|---|---|---|
| Current Multiple | 16.6 | HK$39.2 |
0%
|
| 3-Year Average | 15.6 | HK$36.72 |
-6%
|
| 5-Year Average | 15.6 | HK$36.72 |
-6%
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| Industry Average | 11.4 | HK$26.92 |
-31%
|
| Country Average | 9.3 | HK$21.92 |
-44%
|
Forward EV/FCFF
Today’s price vs future free cash flow to firm
Peer Comparison
| Market Cap | EV/FCFF | P/E | ||||
|---|---|---|---|---|---|---|
| HK |
|
Link Real Estate Investment Trust
HKEX:823
|
101.4B HKD | 16.6 | -14.9 | |
| US |
|
Simon Property Group Inc
NYSE:SPG
|
66.3B USD | 29.2 | 14.3 | |
| US |
|
Realty Income Corp
NYSE:O
|
60B USD | -112.6 | 56.7 | |
| SG |
|
CapitaLand Integrated Commercial Trust
SGX:C38U
|
18B | 0 | 0 | |
| US |
|
Kimco Realty Corp
NYSE:KIM
|
15.9B USD | 43 | 28.9 | |
| US |
|
Regency Centers Corp
NASDAQ:REG
|
14.2B USD | 77.2 | 27.6 | |
| AU |
|
Scentre Group
ASX:SCG
|
19.4B AUD | 31.2 | 11.1 | |
| FR |
|
Klepierre SA
PAR:LI
|
9.9B EUR | 20.7 | 7.6 | |
| US |
|
Federal Realty Investment Trust
NYSE:FRT
|
9.6B USD | -35.7 | 23.7 | |
| US |
|
Agree Realty Corp
NYSE:ADC
|
9.3B USD | -12 | 47.1 | |
| US |
|
Brixmor Property Group Inc
NYSE:BRX
|
9.2B USD | -155.4 | 23.9 |
Market Distribution
| Min | 0 |
| 30th Percentile | 4.7 |
| Median | 9.3 |
| 70th Percentile | 16.9 |
| Max | 20 343.5 |
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.