City Developments Limited (CDEVY) Fair Value & Analysis

Real Estate · US · Market cap $5.7B

Below-average quality, screening 51% undervalued on our models.

What matters now

• The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain.
• The price is below even our cautious bear case ($6.85). The market is more pessimistic than our downside scenario.
• As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.

How to read this chart

60‑month range $3.10 – $7.96 · fair‑value band $6.85 – $11.42 · the $6.04 price screens below the $9.14 fair value. Dashed = 300-day average. As of Jul 26, 2026.

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Analysis

City Developments Limited (CDEVY) currently trades at $6.04, while our model-based Fair Value estimate is $9.14, implying the stock looks roughly 51.3% undervalued today. The Quality Score stands at 39/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, City Developments Limited generated revenue of $3.6B at a net margin of 17.6%. Revenue grew 11.1% year over year. It earns a return on equity of 6.4%. Net debt stands at $12.6B. Fundamentals as of Jul 26, 2026

Our scenario range runs from $6.85 (bear case) to $11.42 (bull case); at $6.04, the current price sits below 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 24% below its 52-week high and 70% 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 51%, CDEVY 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: Economic Profit ($8.70) versus Dividend Discount ($1.95). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

City Developments Limited (CDL) is a leading global real estate company with a network spanning 167 locations across 28 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalization.

Full company description

City Developments Limited (CDL) is a leading global real estate company with a network spanning 167 locations across 28 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalization. Its income-stable and geographically diverse portfolio comprises residences, offices, hotels, serviced apartments, student accommodation, retail malls and integrated developments. With a proven track record of over 60 years in real estate development, investment, and management, the Group has developed over 55,000 homes and owns around 23 million square feet of gross floor area in residential for lease, commercial and hospitality assets globally. The Group owns, operates and manages more than 160 hotels worldwide, many in key gateway cities, primarily through its flagship Millennium Hotels and Resorts (MHR). City Developments Limited was established on September 7th, 1963 and incorporated in Singapore.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

City Developments Limited reported revenue of $3.5B in FY2025 versus $2.6B in FY2021, a compound +7.8%/yr. Reported net income was $620M in FY2025, compounding +64.5%/yr from FY2021.

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Peer Group

Real Estate - Development · 588 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 Real Estate - Development 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.