Keppel Pacific Oak US REIT (CMOU) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Keppel Pacific Oak US REIT $0.29, price $0.16, upside +85.9%, quality 47 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range $0.1189 – $0.6244 · fair‑value band $0.0800 – $0.5400 · the $0.1560 price screens below the $0.2900 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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KORE US REIT is a distinctive office REIT listed on the main board of the Singapore Exchange Securities Trading Limited on 9 November 2017.
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KORE US REIT is a distinctive office REIT listed on the main board of the Singapore Exchange Securities Trading Limited on 9 November 2017. KORE leverages its focus on the fast-growing technology, advertising, media and information (TAMI), as well as medical and healthcare sectors across key growth markets in the United States (US), and aims to be the first choice US office S-REIT providing sustainable distributions and strong total returns for Unitholders. KORE invests in a diversified portfolio of income-producing commercial assets and real estate-related assets in key growth markets, including the Super Sun Belt and 18-Hour Cities, that combine robust economic fundamentals with vibrant lifestyle offerings. As at 31 December 2025, KORE's portfolio comprised a balanced mix of 13 freehold office buildings and business campuses across eight key growth markets driven by technology and innovation in the US. With a portfolio value of approximately US$1.3 billion and an aggregate net lettable area of approximately 4.8 million sf, these properties encompass a diversified high-quality tenant base in the growing and defensive sectors of TAMI, as well as medical and healthcare, which make up approximately 51% of KORE's portfolio by cash rental income. KORE is managed by Keppel Pacific Oak US REIT Management Pte. Ltd., which is jointly owned by two Sponsors, Keppel and KORE Pacific Advisors. The company was formerly known as Keppel Pacific Oak US REIT and changed its name to KORE US REIT in February 2026. The company is based in Singapore and was incorporated in 2017.
Stock analysis
Keppel Pacific Oak US REIT (CMOU) currently trades at $0.1560, while our model-based Fair Value estimate is $0.2900, implying the stock looks roughly 46.2% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $0.7000 per share, and 10 of the 10 models we run sit above the $0.1560 price.
Bear case: the Growth DCF group reads lowest at $0.2500, and 0 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: $0.0800 (bear) to $0.5400 (bull), the price of $0.1560 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 47/100 (below-average quality), in the Real Estate sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Keppel Pacific Oak US REIT reported revenue of $145M in FY2025 versus $141M in FY2021, a compound +0.7%/yr. Reported net income was −$4.1M in FY2025.
Key figures
Market cap $163M · P/E ex one-offs 5.3 · P/S ratio 1.14 · Dividend yield 4.5% · Net margin −2.8% · Return on equity 0.6% · Return on assets (EBIT) 5.1% · Operating margin 53.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 34% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −1% fair-value upside, at 86%, CMOU screens cheaper than that median.
Fair Value models
Bear $0.0800Fair Value $0.2900Bull $0.5400
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.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.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.36/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
+1.8%
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.
+0.1%
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.
+0.8%
Start year 2020 (pandemic). Over 10 years: +6.8% a year
Revenue growth 11 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.
+7.0%
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Profit margin (trend) ⓘ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.
53.0% (2020) → 49.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than 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).
+21.8%
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.
+2.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +19.0% a year for the price and +0.0% for the forecasts.
Compare Keppel Pacific Oak US REIT 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 - Office · 69 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside+85.9% · Top 25%
Profitability
Return on equity (TTM)0.6% · Below median
Return on assets3.3% · Top 25%
Net margin (TTM)2.8% · Below median
Operating margin (TTM)53.2% · Above median
Growth and dividend
Revenue growth2.8% · Above median
Dividend yield (TTM)4.5% · Below median
Balance sheet
Debt / equity0.59× · Below median
Valuation Multiplesvs REIT - Office 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). "Keppel Pacific Oak US REIT Fair Value". https://www.fairvalue-calculator.com/stock/CMOU
Frequently asked questions
Is Keppel Pacific Oak US REIT (CMOU) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of $0.2900 versus a price of $0.1560, about +86% upside (undervalued).
What is the fair value of CMOU?
Our model-based fair value for Keppel Pacific Oak US REIT is $0.2900 (as of Sep 27, 2026), built from audited fundamentals. The current price: $0.1560.
What is the quality score of CMOU?
Keppel Pacific Oak US REIT has a Quality Score of 47/100. 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 Keppel Pacific Oak US REIT (CMOU)?
Our model-based price target is the fair value of $0.2900 (as of Sep 27, 2026) from 10 valuation models. Cautious scenario $0.0800, optimistic scenario $0.5400. It is a calculation from audited fundamentals, not an analyst target.
What is the Keppel Pacific Oak US REIT stock forecast for 2026?
Our models put fair value at $0.2900, about +86% upside versus a price of $0.1560 (undervalued). Cautious scenario $0.0800, optimistic scenario $0.5400. The calculation is refreshed regularly with new filings.
What is the revenue of Keppel Pacific Oak US REIT (CMOU)?
Keppel Pacific Oak US REIT reported trailing-twelve-month revenue of about $152M (latest available figure, as of Sep 27, 2026).
Does Keppel Pacific Oak US REIT pay a dividend?
Keppel Pacific Oak US REIT currently shows a dividend yield of about 4.49% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Keppel Pacific Oak US REIT (CMOU)?
For today's price to be fair in a discounted-cash-flow model, Keppel Pacific Oak US REIT would have to grow free cash flow by +21.8 % per year for five years (discount rate 14.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.8 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of CMOU use?
Our models discount Keppel Pacific Oak US REIT at 14.5 %: a base by market capitalisation (micro), damped by beta 1.64, 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 Keppel Pacific Oak US REIT that is +21.8 % per year a year over ten years, using the same discount rate (14.5 %) and the same formula as our fair value.
How much growth has Keppel Pacific Oak US REIT (CMOU) delivered so far?
Over the past 5 years revenue at Keppel Pacific Oak US REIT grew +0.8 % a year. The price currently implies +21.8 % 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 Keppel Pacific Oak US REIT (CMOU) growing?
The median revenue growth in the sector is +2.0 % a year. That is the yardstick for the growth priced into Keppel Pacific Oak US REIT (+21.8 % 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 Keppel Pacific Oak US REIT (CMOU)?
The free-cash-flow yield on the price is 24.85 %: that much free cash flow Keppel Pacific Oak US REIT produces per unit of market value. When it exceeds the discount rate of our models (14.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Keppel Pacific Oak US REIT (CMOU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Keppel Pacific Oak US REIT it is $0.2900 per share (as of Sep 27, 2026), against a price of $0.1560. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Keppel Pacific Oak US REIT stock overvalued or undervalued in 2026?
As of Sep 27, 2026, CMOU trades below its calculated fair value: price $0.1560, fair value $0.2900, a gap of about +86% (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 CMOU?
No. The price is what the market pays today ($0.1560); the fair value is what the company's own numbers justify ($0.2900). For Keppel Pacific Oak US REIT the two are $0.1340 per share apart. That gap is exactly why we show both numbers side by side.
How much is Keppel Pacific Oak US REIT worth?
The market values Keppel Pacific Oak US REIT at about $163M (market capitalisation, as of Sep 27, 2026). Per share that is $0.1560; our models calculate a fair value of $0.2900 per share.
What do the bullish and bearish scenarios say about CMOU?
Our models span a range for Keppel Pacific Oak US REIT: cautious scenario $0.0800, base $0.2900, optimistic $0.5400 per share (as of Sep 27, 2026, price $0.1560). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Keppel Pacific Oak US REIT (CMOU)?
Balance-sheet figures for Keppel Pacific Oak US REIT (as of Sep 27, 2026): return on equity 0.6%, debt of 0.59 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is CMOU from its 52-week high?
Keppel Pacific Oak US REIT trades at $0.1560, about 34% below its 52-week high of $0.2369 and at the low of $0.1560 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of $0.2900 is for.
Which stocks are comparable to Keppel Pacific Oak US REIT?
From the same area (Real Estate) we also value BXP, Inc, Vornado Realty Trust, Alexandria Real Estate Equities, Inc, MERLIN Properties SOCIMI, S.A, 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 Keppel Pacific Oak US REIT stock attractive at the current price?
The data as of Sep 27, 2026: price $0.1560, calculated fair value $0.2900 (+86%), Quality Score 47/100, from 10 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 CMOU calculated?
We run Keppel Pacific Oak US REIT through 10 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 $0.2900, 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 14.5 % above its aggregate fair value. Keppel Pacific Oak US REIT currently trades 46 % 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 Keppel Pacific Oak US REIT (CMOU)?
The closing price on Oct 1, 2026 was $0.1560. Our model-based fair value is $0.2900, about +86% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Keppel Pacific Oak US REIT right now?
The model range is unusually wide ($0.0800 to $0.5400). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 (47/100) 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 Keppel Pacific Oak US REIT
How large is the market capitalisation of Keppel Pacific Oak US REIT (CMOU)?
The market capitalisation of Keppel Pacific Oak US REIT is $163M. 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/E ratio of Keppel Pacific Oak US REIT (CMOU) excluding one-off items?
Excluding one-off items, the price-to-earnings ratio of Keppel Pacific Oak US REIT is 5.3 (fiscal year 2025, the reported result was a loss).
What is the P/S ratio of Keppel Pacific Oak US REIT (CMOU)?
The price-to-sales ratio of Keppel Pacific Oak US REIT is 1.14 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Keppel Pacific Oak US REIT (CMOU)?
The dividend yield of Keppel Pacific Oak US REIT is 4.5%. 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 Keppel Pacific Oak US REIT (CMOU)?
The net margin of Keppel Pacific Oak US REIT is −2.8% (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 Keppel Pacific Oak US REIT (CMOU)?
The return on equity (ROE) of Keppel Pacific Oak US REIT is 0.6% (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 Keppel Pacific Oak US REIT (CMOU)?
On an EBIT basis the return on assets of Keppel Pacific Oak US REIT is 5.1% (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 Keppel Pacific Oak US REIT (CMOU)?
The operating margin of Keppel Pacific Oak US REIT is 53.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Keppel Pacific Oak US REIT (CMOU)?
Revenue at Keppel Pacific Oak US REIT is growing +2.8% versus a year earlier (3y avg +0.1%). 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 Keppel Pacific Oak US REIT (CMOU)?
Earnings per share at Keppel Pacific Oak US REIT are growing +71.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Keppel Pacific Oak US REIT (CMOU) carry?
The net debt of Keppel Pacific Oak US REIT is $555M (fiscal year 2025, ≈ 17.6 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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