YTL Hospitality REIT (5109) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of YTL Hospitality REIT MYR 1.41, price MYR 0.99, upside +42.4%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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YTL Hospitality REIT has a market capitalization of approximately RM1.83 billion (as at 30 June 2025) with a wide portfolio of prime hospitality assets across a range of unique locations worldwide.
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YTL Hospitality REIT has a market capitalization of approximately RM1.83 billion (as at 30 June 2025) with a wide portfolio of prime hospitality assets across a range of unique locations worldwide. In Malaysia, these include the JW Marriott Hotel Kuala Lumpur, The Majestic Hotel Kuala Lumpur, The Ritz-Carlton, Kuala Lumpur (Hotel and Suite wings), the Pangkor Laut, Tanjong Jara and Cameron Highlands resorts, Hotel Stripes Kuala Lumpur and the AC hotels in Kuala Lumpur, Penang, Kuantan and Ipoh. The Trust has also acquired a hotel in Puchong, which is currently under renovation (Puchong Hotel) and will relaunch as AC Hotel Puchong. YTL Hospitality REIT's international portfolio comprises Hilton Niseko Village and The Green Leaf Niseko Village in Japan and the Sydney Harbor, Brisbane and Melbourne Marriott hotels in Australia. The Trust is also undertaking the development of a hotel under the Moxy brand (Moxy Niseko) in Hokkaido, Japan. YTL Hospitality REIT's principal objective is to provide unitholders with stable cash distributions through owning and investing in yield accretive real estate assets. This provides potential for sustainable growth in its long-term unit value, rewarding unitholders with noticeable returns. YTL Hospitality REIT was established by a trust deed entered into on 18 November 2005 (as amended and restated) between Pintar Projek Sdn Bhd and Maybank Trustees Berhad, as manager and trustee, respectively, of YTL Hospitality REIT. YTL Hospitality REIT was incorporated in 2005 in Malaysia.
Stock analysis
YTL Hospitality REIT (5109) currently trades at 0.9900 MYR, while our model-based Fair Value estimate is 1.41 MYR, implying the stock looks roughly 29.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 1.50 MYR per share, and 10 of the 16 models we run sit above the 0.9900 MYR price.
Bear case: the Growth DCF group reads lowest at 0.8000 MYR, and 6 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 1.06 MYR (bear) to 1.76 MYR (bull), the price of 0.9900 MYR sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
YTL Hospitality REIT reported revenue of 548M MYR in FY2025 versus 326M MYR in FY2021, a compound +13.9%/yr. Reported net income was 149M MYR in FY2025, compounding +15.7%/yr from FY2021.
Key figures
Market cap 1.7B MYR (≈ $414M) · P/E ratio 9.9 · P/S ratio 2.68 · EPS (TTM) 0.1000 MYR · Dividend yield 8.0% · Net margin 27.1% · Return on equity 5.8% · Return on assets (EBIT) 2.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −15% fair-value upside, at 42%, 5109 screens cheaper than that median.
Fair Value models
Bear 1.06 MYRFair Value 1.41 MYRBull 1.76 MYR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (0.0210 MYR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.68/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.2%
Start year 2020 (pandemic). Over 10 years: +2.8% a year
Revenue growth 14 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.1%
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What shareholders gained per year (last 5 years), in MYR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in MYR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+20.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.4%
Dividend (yield on the price)8.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.36% → 22%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about +4.8% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Hotel & Motel · 35 stocks
Beats the industry median on 14/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside+42% · Above median
Profitability
Return on equity (TTM)6% · Above median
Return on assets3% · Above median
Net margin (TTM)30% · Above median
Operating margin (TTM)43% · Above median
Growth and dividend
Revenue growth5% · Top 25%
Dividend yield (TTM)8.0% · Top 25%
Balance sheet
Debt / equity0.46× · Below median
Valuation Multiplesvs REIT - Hotel & Motel median · lower = cheaper
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Is YTL Hospitality REIT (5109) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 1.41 MYR versus a price of 0.9900 MYR, about +42% upside (undervalued).
What is the fair value of 5109?
Our model-based fair value for YTL Hospitality REIT is 1.41 MYR (as of Sep 23, 2026), built from audited fundamentals. The current price: 0.9900 MYR.
What is the quality score of 5109?
YTL Hospitality REIT has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for YTL Hospitality REIT (5109)?
Our model-based price target is the fair value of 1.41 MYR (as of Sep 23, 2026) from 16 valuation models. Cautious scenario 1.06 MYR, optimistic scenario 1.76 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the YTL Hospitality REIT stock forecast for 2026?
Our models put fair value at 1.41 MYR, about +42% upside versus a price of 0.9900 MYR (undervalued). Cautious scenario 1.06 MYR, optimistic scenario 1.76 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of YTL Hospitality REIT (5109)?
YTL Hospitality REIT reported trailing-twelve-month revenue of about 563M MYR (latest available figure, as of Sep 23, 2026).
Does YTL Hospitality REIT pay a dividend?
YTL Hospitality REIT currently shows a dividend yield of about 7.98% relative to its recent price (as of Sep 23, 2026).
What growth is priced into YTL Hospitality REIT (5109)?
For today's price to be fair in a discounted-cash-flow model, YTL Hospitality REIT would have to grow free cash flow by +6.9 % per year for five years (discount rate 11.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.2 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of 5109 use?
Our models discount YTL Hospitality REIT at 11.1 %: a base by market capitalisation (small), damped by beta 0.31, country premium for Malaysia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For YTL Hospitality REIT that is +6.9 % per year a year over ten years, using the same discount rate (11.1 %) and the same formula as our fair value.
How much growth has YTL Hospitality REIT (5109) delivered so far?
Over the past 5 years revenue at YTL Hospitality REIT grew +5.2 % a year. The price currently implies +6.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of YTL Hospitality REIT (5109) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into YTL Hospitality REIT (+6.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of YTL Hospitality REIT (5109)?
The free-cash-flow yield on the price is 15.19 %: that much free cash flow YTL Hospitality REIT produces per unit of market value. When it exceeds the discount rate of our models (11.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of YTL Hospitality REIT (5109)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For YTL Hospitality REIT it is 1.41 MYR per share (as of Sep 23, 2026), against a price of 0.9900 MYR. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is YTL Hospitality REIT stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 5109 trades below its calculated fair value: price 0.9900 MYR, fair value 1.41 MYR, a gap of about +42% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 5109?
No. The price is what the market pays today (0.9900 MYR); the fair value is what the company's own numbers justify (1.41 MYR). For YTL Hospitality REIT the two are 0.4200 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is YTL Hospitality REIT worth?
The market values YTL Hospitality REIT at about 1.7B MYR (market capitalisation, as of Sep 23, 2026). Per share that is 0.9900 MYR; our models calculate a fair value of 1.41 MYR per share.
What do the bullish and bearish scenarios say about 5109?
Our models span a range for YTL Hospitality REIT: cautious scenario 1.06 MYR, base 1.41 MYR, optimistic 1.76 MYR per share (as of Sep 23, 2026, price 0.9900 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 5109?
YTL Hospitality REIT trades at a price-to-earnings ratio of 9.9 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.41 MYR is built from several models across several years. Other multiples: PEG 3.2, P/B 0.1, P/S 0.7, EV/EBITDA 5.7.
What is the PEG ratio of 5109?
The PEG ratio of YTL Hospitality REIT is 3.23 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of YTL Hospitality REIT (5109)?
Balance-sheet figures for YTL Hospitality REIT (as of Sep 23, 2026): return on equity 5.8%, debt of 0.46 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 5109 from its 52-week high?
YTL Hospitality REIT trades at 0.9900 MYR, about 11% below its 52-week high of 1.11 MYR and 6% above the low of 0.9298 MYR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1.41 MYR is for.
Which stocks are comparable to YTL Hospitality REIT?
From the same area (Real Estate) we also value Host Hotels & Resorts, Inc, Ryman Hospitality Properties, Inc, COVH, Apple Hospitality REIT, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is YTL Hospitality REIT stock attractive at the current price?
The data as of Sep 23, 2026: price 0.9900 MYR, calculated fair value 1.41 MYR (+42%), Quality Score 66/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 5109 calculated?
We run YTL Hospitality REIT through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 1.41 MYR, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. YTL Hospitality REIT currently trades 42 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of YTL Hospitality REIT (5109)?
The closing price on Sep 23, 2026 was 0.9900 MYR. Our model-based fair value is 1.41 MYR, about +42% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with YTL Hospitality REIT right now?
The price is below even our cautious bear case (1.06 MYR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of YTL Hospitality REIT
How large is the market capitalisation of YTL Hospitality REIT (5109)?
The market capitalisation of YTL Hospitality REIT is 1.7B MYR (≈ $414M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of YTL Hospitality REIT (5109)?
The price-to-sales ratio of YTL Hospitality REIT is 2.68 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of YTL Hospitality REIT (5109)?
Earnings per share at YTL Hospitality REIT are 0.1000 MYR (price ÷ EPS = P/E 9.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of YTL Hospitality REIT (5109)?
The dividend yield of YTL Hospitality REIT is 8.0% (payout 79.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of YTL Hospitality REIT (5109)?
The net margin of YTL Hospitality REIT is 27.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of YTL Hospitality REIT (5109)?
The return on equity (ROE) of YTL Hospitality REIT is 5.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of YTL Hospitality REIT (5109)?
On an EBIT basis the return on assets of YTL Hospitality REIT is 2.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of YTL Hospitality REIT (5109)?
The operating margin of YTL Hospitality REIT is 43.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at YTL Hospitality REIT (5109)?
Revenue at YTL Hospitality REIT is growing +4.7% versus a year earlier (3y avg +14.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at YTL Hospitality REIT (5109)?
Earnings per share at YTL Hospitality REIT are growing +47.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does YTL Hospitality REIT (5109) carry?
The net debt of YTL Hospitality REIT is 2.2B MYR (fiscal year 2025, ≈ 8.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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