CITY DEVELOPMENTS LTD NCCPS (C70) Fair Value & Analysis

Other · SG · Market cap 927M SGD

Below-average quality, and screening another 19% overvalued on our models.

What matters now

• Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
• Our model range runs from 0.6407 SGD (bear) to 1.06 SGD (bull), base 0.8160 SGD. The closer the price sits to the lower half, the larger the margin of safety.
• Quality 42/100 (below-average quality) with medium evidence: read the verdict with care.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 0.8407 SGD – 1.04 SGD · fair‑value band 0.6407 SGD – 1.06 SGD · the 1.01 SGD price screens above the 0.8160 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

CITY DEVELOPMENTS LTD NCCPS (C70) currently trades at 1.01 SGD, while our model-based Fair Value estimate is 0.8160 SGD, implying the stock looks roughly 18.9% overvalued today. The Quality Score stands at 42/100 (below-average quality), in the Other sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Net debt stands at 11.4B SGD. The stock trades on a trailing P/E of 1.8 (as of Jul 4, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.6407 SGD (bear case) to 1.06 SGD (bull case); at 1.01 SGD, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Other peers we cover trades at -24% fair-value upside, at -19%, C70 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples (11.61 SGD) versus Earnings-Based (3.42 SGD). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

City Developments Limited (CDL) is a Singapore-listed international real estate operating company with a global presence spanning 97 locations in 26 countries.

Full company description

City Developments Limited (CDL) is a Singapore-listed international real estate operating company with a global presence spanning 97 locations in 26 countries. As one of Singapore's largest companies by market capitalisation, its income-stable and geographically-diversified portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls, totalling over 18 million square feet of floor area globally. CDL has hotel assets in one of the world's largest hotel groups ? its London-listed subsidiary, Millennium & Copthorne Hotels plc (M&C), has over 130 hotels globally, many in key gateway cities. Globally, CDL has developed over 40,000 homes and is one of Singapore's largest commercial landlords, with one of the biggest landbanks amongst Singapore private-sector developers. Building on its track record of over 50 years in real estate development, investment and management, CDL has developed growth platforms in five key international markets ? UK, US, China, Japan and Australia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CITY DEVELOPMENTS LTD NCCPS reported revenue of 3.6B SGD in FY2025 versus 2.6B SGD in FY2021, a compound +8.1%/yr. Reported net income was 630M SGD in FY2025, compounding +65.1%/yr from FY2021.

C70 screens 19% overvalued. Compare with Federal Home Loan Mortgage Corporation →

Peer Group

Other · 393 stocks

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.

Valuation Multiples vs Other median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.