Mapletree Industrial Trust

Mapletree Industrial Trust

1.28
EUR
+0.01
(+0.85%)
0.05EPS
23.81P/E
3.58BMarket Cap
Oct 27Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
0.17
0.17
0.18
0.18
0.18
0.18
0.18
0.18
0.21
0.23
0.23
0.24
0.23
0.22
Basic EPS, GAAP
0.19
0.22
0.15
0.15
0.16
0.14
0.17
0.07
0.17
0.11
0.04
0.12
0.08
0.08
Free Cash Flow per Basic Share
0.11
0.12
0.12
0.13
0.13
0.13
0.14
0.1
0.19
0.17
0.15
0.17
0.15
0.14
Dividend per Share
0.06
0.06
0.06
0.11
0.12
0.11
0.1
0.12
0.12
0.09
0.14
0.13
0.13
0.13
Book Value per Share
1.2
1.32
1.36
1.4
1.47
1.5
1.61
1.65
1.97
1.96
1.87
1.82
1.84
1.73
Tangible Book Value per Share
1.2
1.32
1.36
1.4
1.47
1.5
1.61
1.65
1.97
1.96
1.87
1.82
1.84
1.73
Basic Weighted Avg Shares
1,668
1,721
1,775
1,807
1,842
1,908
2,121
2,312
2,603
2,701
2,816
2,841
2,852
2,852
Sales/Revenue/Turnover
282
297
314
322
338
350
379
417
554
611
661
681
644
637
Operating Margin (%)
67.04
67.93
68.78
70.56
72.98
72.6
74.37
74.2
73.79
73.72
68.81
68.27
68.19
68.57
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
314
374
273
271
301
271
367
164
439
291
121
345
221
222
Effective Tax Rate (%)
0.02
0.29
- -
- -
0.01
- -
0.02
16.87
6.43
7.6
11.72
7.9
15.47
15.26
Profit Margin (%)
111.31
126.17
86.69
84
88.97
77.4
96.84
39.48
79.32
47.63
18.24
50.68
34.39
34.83
Working Capital
-308
-108
-61
-174
-225
-105
-31
-229
-342
-159
-61
-608
-409
-480
LT Debt
784
949
974
991
1,033
1,321
1,455
1,902
2,552
2,705
3,002
2,673
1,959
2,179
Total Equity
2,029
2,312
2,465
2,533
2,780
3,048
3,560
3,895
5,279
5,376
5,289
5,192
5,246
4,952
Return on Invested Capital (%)
6.31
6.14
6.29
6.37
6.45
6.02
5.95
4.36
5.31
5.05
4.82
5.08
4.62
4.6
Return on Capital (%)
11.35
12.09
8.77
8.28
8.62
7.32
8.66
3.44
6.68
4.8
3.25
5.83
4.01
3.62
Return on Common Equity (%)
16.4
17.25
11.41
10.83
11.31
9.3
11.11
4.41
9.58
5.46
2.26
6.59
4.24
4.37

Capital Structure

SGD

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
782
395
472
LT Borrowings
1,806
1,859
2,080
LT Finance Leases
101
100
99
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2,853
2,853
2,854
Market Capitalization
5,649
5,345
5,282

Working Capital

SGD

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
131
120
116
Cash, Cash Equivalents & STI
101
95
96
Accounts Receivable, Net
21
2
16
Inventories
- -
- -
- -
Total Current Liabilities
917
529
595
Payables & Accruals
- -
- -
- -
ST Debt
782
395
472
Deferred Revenue
- -
- -
- -

Growth Rates

SGD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.33%
6.99%
1.03%
Free Cash Flow
10.92%
19.66%
-11.23%
Net Income, GAAP
20.6%
45.05%
-35.86%
Sales/Revenue/Turnover
7.81%
9.8%
-5.46%
Total Cash Common Dividend
16.24%
10.18%
3.96%

Quarterly Revenue

SGD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
167
174
170
170
681
2026
168
- -
156
156
644
2027
155
- -
- -
- -
- -

Quarterly Earnings Per Share

SGD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
0.03
0.03
0.03
0.02
0.12
2026
0.04
- -
0.03
-0.02
0.08
2027
0.03
- -
- -
- -
- -

Quarterly Dividends Per Share

SGD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
0.04
0.03
0.03
0.03
0.13
2026
0.04
- -
0.03
0.03
0.13
2027
0.03
- -
- -
- -
- -

Company Description

CEO
Anand Tze Ming Chandran
Full Time Employees
186
Sector
Finance
Industry
Real estate investment trusts
Address
10 Pasir Panjang Road Singapore CE Singapore 117438
IPO Date
Oct 21, 2010
Business
Mapletree Industrial Trust (MIT) is a Singapore-based real estate investment trust specializing in income-producing industrial and data centre properties. Its portfolio primarily comprises industrial properties in Singapore, including flatted factories, high-specification business park buildings, hi-tech buildings, stack-up/ramp-up buildings, and light industrial buildings. In addition, MIT holds income-producing data centre assets worldwide beyond Singapore, especially in North America through joint ventures with its sponsor, Mapletree Investments Pte Ltd, and has expanded its presence into Japan and the Asia Pacific. Founded in 2004 and headquartered in Singapore, MIT operates a diversified portfolio serving various industrial sectors such as IT, media, technology, and biomedical industries. MIT’s latest portfolio comprises approximately 143 properties, including 83 industrial properties in Singapore, 59 properties in North America (with 13 data centres), and a mixed-use facility in Tokyo acquired in 2024. The trust's total assets under management stand near SGD 8.9 billion. Recent major changes include divestments of selected properties to streamline the portfolio and reduce gearing, including the divestment of three Singapore industrial assets for SGD 535.3 million, a US data centre asset for USD 15.5 million, and Tanglin Halt flatted factories for SGD 50.6 million. Strategic expansion efforts focus on growing its data centre footprint in Japan, Europe, and Asia Pacific markets. Management changes occurred in mid-2024 with the appointment of Ler Lily as CEO and Khoo Geng Foong as CFO. MIT continues to emphasize proactive portfolio and capital management to enhance financial flexibility, portfolio resilience, and sustainable returns. The trust targets industrial tenants in sectors requiring high-specification and modern industrial and data centre facilities, leveraging strategic locations in Singapore and international data centre hubs. Key business activities include property acquisition, leasing, asset enhancement, and divestment aligned with market demand trends and technological advancements. MIT remains focused on portfolio diversification, upgrading asset quality, and capital recycling to sustain growth amid global economic uncertainty, positioning itself as a leading industrial and data centre real estate investment trust in the Asia-Pacific region and beyond.

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