Ascendas Real Estate Investment (A17U) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Ascendas Real Estate Investment stock S$2.86, price S$2.31, upside +23.8%, quality 61 out of 100. Rating: undervalued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range 1.97 SGD – 2.73 SGD · fair‑value band 1.53 SGD – 4.88 SGD · the 2.31 SGD price screens below the 2.86 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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CapitaLand Ascendas REIT (CLAR) is Singapore's first and largest listed business space and industrial real estate investment trust. It was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in November 2002.
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CLAR has since grown to be a global REIT anchored in Singapore, with a strong focus on technology and logistics properties in developed markets. As of 31 December 2025, its investment properties under management stood at 18.2 billion US dollars.
It owns a total of 226 properties across three segments, namely Business Space & Life Sciences; Industrial & Data Centres; and Logistics. These properties are in the developed markets of Singapore, Australia, the US, and the UK/Europe.
These properties house a tenant base of 1,731 international and local companies from a wide range of industries and activities, including data centres, information technology, engineering, logistics and supply chain management, biomedical sciences, financial services (backroom office support), electronics, government and other manufacturing and services industries.
Major tenants include Sea Group, DSO National Laboratories, Stripe, Entserve UK, Singtel, DHL, Seagate Singapore, DBS Bank and Citibank. CapitalLand Ascendas REIT was established on October 09, 2002 and was incorporated in 2002 in Singapore.
Stock analysis
Ascendas Real Estate Investment (A17U) currently trades at 2.31 SGD, while our model-based Fair Value estimate is 2.86 SGD, implying the stock looks roughly 19% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 4.89 SGD per share, and 9 of the 15 models we run sit above the 2.31 SGD price.
Bear case: the Asset-Based group reads lowest at 1.46 SGD, and 6 of the 15 models stay below the price. Data coverage for this calculation is high.
Scenario range: 1.53 SGD (bear) to 4.88 SGD (bull), the price of 2.31 SGD sits inside 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 61/100 (solid quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Ascendas Real Estate Investment reported revenue of 1.5B SGD in FY2025 versus 1.2B SGD in FY2021, a compound +5.8%/yr. Reported net income was 780M SGD in FY2025, compounding −5.0%/yr from FY2021.
Key figures
Market cap 10.7B SGD (≈ $8.3B) Mid · P/E ratio 14.4 · P/S ratio 6.61 · EPS (TTM) 0.1600 SGD · Dividend yield 6.5% · Net margin 47.3% · Return on equity 6.9% · Return on assets (EBIT) 4.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 67 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −32% fair-value upside, at 24%, A17U screens cheaper than that median.
Fair Value models
Bear1.53 SGDFair Value 2.86 SGDBull4.88 SGD
Price 2.31 SGD · Upside +23.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.0084 SGD 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+1.0%
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.
+4.4%
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.
+8.4%
Start year 2020 (pandemic). Over 10 years: +7.3% a year
Revenue growth 22 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.
+15.4%
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What shareholders gained per year (last 5 years) ⓘ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.
+12.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.3%
Dividend (yield on the price)6.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6.3% vs 1.2%, picking up
Profit margin 2019 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.70% → 63%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
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).
+2.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about +0.6% a year for the price and +3.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (12 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
Compare Ascendas Real Estate Investment with another stock
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 - Industrial · 51 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside+23.8% · Top 25%
Profitability
Return on equity (12 months)6.9% · Below median
Return on assets3.9% · Below median
Net margin (12 months)47.3% · Above median
Operating margin (12 months)62.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)7.8% · Above median
Dividend yield (12 months)6.5% · Above median
Balance sheet
Debt / equity0.52× · Above median
Valuation Multiplesvs REIT - Industrial median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Ascendas Real Estate Investment Fair Value". https://www.fairvalue-calculator.com/stock/A17U
Frequently asked questions
Is Ascendas Real Estate Investment (A17U) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of 2.86 SGD versus a price of 2.31 SGD, about +24% upside (undervalued).
What is the fair value of A17U?
Our model-based fair value for Ascendas Real Estate Investment is 2.86 SGD (as of Nov 1, 2026), built from audited fundamentals. The current price: 2.31 SGD.
What is the quality score of A17U?
Ascendas Real Estate Investment has a Quality Score of 61/100. 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 Ascendas Real Estate Investment (A17U)?
Our model-based price target is the fair value of 2.86 SGD (as of Nov 1, 2026) from 15 valuation models. Cautious scenario 1.53 SGD, optimistic scenario 4.88 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the Ascendas Real Estate Investment stock forecast for 2026?
Our models put fair value at 2.86 SGD, about +24% upside versus a price of 2.31 SGD (undervalued). Cautious scenario 1.53 SGD, optimistic scenario 4.88 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of Ascendas Real Estate Investment (A17U)?
Ascendas Real Estate Investment reported trailing-twelve-month revenue of about 1.6B SGD (latest available figure, as of Nov 1, 2026).
Does Ascendas Real Estate Investment pay a dividend?
Ascendas Real Estate Investment currently shows a dividend yield of 6.50% relative to its recent price (as of Nov 1, 2026).
What growth is priced into Ascendas Real Estate Investment (A17U)?
For today's price to be fair in a discounted-cash-flow model, Ascendas Real Estate Investment would have to grow free cash flow by +2.6 % per year for five years (discount rate 8.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.4 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of A17U use?
Our models discount Ascendas Real Estate Investment at 8.4 %: a base by market capitalisation (mid), damped by beta 0.54, country premium for Singapore. 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 Ascendas Real Estate Investment that is +2.6 % per year a year over ten years, using the same discount rate (8.4 %) and the same formula as our fair value.
How much growth has Ascendas Real Estate Investment (A17U) delivered so far?
Over the past 5 years revenue at Ascendas Real Estate Investment grew +8.4 % a year. The price currently implies +2.6 % 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 Ascendas Real Estate Investment (A17U) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Ascendas Real Estate Investment (+2.6 % 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 Ascendas Real Estate Investment (A17U)?
The free-cash-flow yield on the price is 10.03 %: that much free cash flow Ascendas Real Estate Investment produces per unit of market value. When it exceeds the discount rate of our models (8.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ascendas Real Estate Investment (A17U)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ascendas Real Estate Investment it is 2.86 SGD per share (as of Nov 1, 2026), against a price of 2.31 SGD. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Ascendas Real Estate Investment stock overvalued or undervalued in 2026?
As of Nov 1, 2026, A17U trades below its calculated fair value: price 2.31 SGD, fair value 2.86 SGD, a gap of about +24% (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 A17U?
No. The price is what the market pays today (2.31 SGD); the fair value is what the company's own numbers justify (2.86 SGD). For Ascendas Real Estate Investment the two are 0.5500 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is Ascendas Real Estate Investment worth?
The market values Ascendas Real Estate Investment at about 10.7B SGD (market capitalisation, as of Nov 1, 2026). Per share that is 2.31 SGD; our models calculate a fair value of 2.86 SGD per share.
What do the bullish and bearish scenarios say about A17U?
Our models span a range for Ascendas Real Estate Investment: cautious scenario 1.53 SGD, base 2.86 SGD, optimistic 4.88 SGD per share (as of Nov 1, 2026, price 2.31 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of A17U?
Ascendas Real Estate Investment trades at a price-to-earnings ratio of 14.4 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2.86 SGD is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 15.3 (reported for FY2025: 13.7). Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 15.8. Other multiples: PEG 6.1, P/B 1.0, P/S 6.6, EV/EBITDA 14.5.
What is the PEG ratio of A17U?
The PEG ratio of Ascendas Real Estate Investment is 6.06 (P/E divided by earnings growth, as of Nov 1, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Ascendas Real Estate Investment (A17U)?
Balance-sheet figures for Ascendas Real Estate Investment (as of Nov 1, 2026): return on equity 6.9%, debt of 0.52 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is A17U from its 52-week high?
Ascendas Real Estate Investment trades at 2.31 SGD, about 15% below its 52-week high of 2.73 SGD and 7% above the low of 2.16 SGD (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 2.86 SGD is for.
Which stocks are comparable to Ascendas Real Estate Investment?
From the same area (Real Estate) we also value Prologis, Inc, Public Storage, Extra Space Storage Inc, EastGroup Properties, 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 Ascendas Real Estate Investment stock attractive at the current price?
The data as of Nov 1, 2026: price 2.31 SGD, calculated fair value 2.86 SGD (+24%), Quality Score 61/100, from 15 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 A17U calculated?
We run Ascendas Real Estate Investment through 15 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 2.86 SGD, 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 15.6% above its aggregate fair value. Ascendas Real Estate Investment currently trades 19% 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 Ascendas Real Estate Investment (A17U)?
The closing price on Nov 5, 2026 was 2.31 SGD. Our model-based fair value is 2.86 SGD, about +24% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ascendas Real Estate Investment right now?
The model range is unusually wide (1.53 SGD to 4.88 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (61/100) 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.
Where does the earnings growth of Ascendas Real Estate Investment (A17U) come from?
Earnings per share at Ascendas Real Estate Investment grew −0.2 % a year from 2011 to 2022. Broken into its drivers: revenue per share +2.6 %, EBIT margin +0.4 %, tax rate −0.8 %, residual (interest, one-offs) −2.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Ascendas Real Estate Investment
How large is the market capitalisation of Ascendas Real Estate Investment (A17U)?
The market capitalisation of Ascendas Real Estate Investment is 10.7B SGD (≈ $8.3B). 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 Ascendas Real Estate Investment (A17U)?
The price-to-sales ratio of Ascendas Real Estate Investment is 6.61 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ascendas Real Estate Investment (A17U)?
Earnings per share at Ascendas Real Estate Investment are 0.1600 SGD (price ÷ EPS = P/E 14.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ascendas Real Estate Investment (A17U)?
The dividend yield of Ascendas Real Estate Investment is 6.5% (payout 105%, on adjusted earnings, reported 93.8%). 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 Ascendas Real Estate Investment (A17U)?
The net margin of Ascendas Real Estate Investment is 47.3% (last twelve months). 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 Ascendas Real Estate Investment (A17U)?
The return on equity (ROE) of Ascendas Real Estate Investment is 6.9% (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 Ascendas Real Estate Investment (A17U)?
On an EBIT basis the return on assets of Ascendas Real Estate Investment is 4.9% (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 Ascendas Real Estate Investment (A17U)?
The operating margin of Ascendas Real Estate Investment is 62.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ascendas Real Estate Investment (A17U)?
Revenue at Ascendas Real Estate Investment is growing +7.8% versus a year earlier (3y avg +4.4%). 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 Ascendas Real Estate Investment (A17U)?
Earnings per share at Ascendas Real Estate Investment are growing −13.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Ascendas Real Estate Investment (A17U) carry?
The net debt of Ascendas Real Estate Investment is 7.1B SGD (fiscal year 2025, ≈ 6.7 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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Broad data
Nov 1, 2026