CapitaLand Integrated Commercial Trust (CICT or the Trust) (CPAMF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of CapitaLand Integrated Commercial Trust (CICT or the Trust) $1.38, price $1.75, upside -21.1%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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CapitaLand Integrated Commercial Trust (CICT or the Trust)
CPAMF · USOvervalued / MonitorQuality is not strong enough to offset the price risk.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range $0.6887 – $2.20 · fair‑value band $0.5000 – $2.26 · the $1.75 price screens above the $1.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
Company profile
CapitaLand Integrated Commercial Trust (CICT or the Trust) is the first and largest real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST). CapitaLand Integrated Commercial Trust has a market capitalization of US14.2 billion dollars or S18.2 billion dollars as at 31 December 2025.
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CapitaLand Integrated Commercial Trust (CICT or the Trust) is the first and largest real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST). CapitaLand Integrated Commercial Trust has a market capitalization of US14.2 billion dollars or S18.2 billion dollars as at 31 December 2025. It debuted on SGX-ST as CapitaLand Mall Trust in July 2002 and was renamed CICT in November 2020 following the merger with CapitaLand Commercial Trust. As the largest proxy for Singapore commercial real estate, CICT owns and invests in quality income-producing assets primarily used for commercial (including retail and/or office) purposes, located predominantly in Singapore. CICT's portfolio comprises 20 properties in Singapore, two properties in Frankfurt, Germany, and three properties in Sydney, Australia with a total property value of S27.0 billion dollars or US21.0 billion dollar based on valuations of its proportionate interests in the portfolio as at 31 December 2025. CICT is managed by CapitaLand Integrated Commercial Trust Management Limited (CICTML or the Manager), a wholly owned subsidiary of CapitaLand Investment Limited, a leading global real asset manager with a strong Asia foothold. CapitaLand Integrated Commercial Trust was established in October 29, 2001 and incorporated in Singapore.
Stock analysis
CapitaLand Integrated Commercial Trust (CICT or the Trust) (CPAMF) currently trades at $1.75, while our model-based Fair Value estimate is $1.38, 21.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $1.33 per share, and 0 of the 16 models we run sit above the $1.75 price.
Bear case: the Growth DCF group reads lowest at $0.5000, and 16 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: $0.5000 (bear) to $2.26 (bull), the price of $1.75 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 57/100 (solid quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
CapitaLand Integrated Commercial Trust (CICT or the Trust) reported revenue of 1.6B SGD in FY2025 versus 1.3B SGD in FY2021, a compound +5.5%/yr. Reported net income was 937M SGD in FY2025, compounding −3.5%/yr from FY2021.
Key figures
Market cap $14.7B · P/E ratio 17.5 · P/S ratio 10.1 · EPS (TTM) $0.1000 · Dividend yield 6.6% · Net margin 57.9% · Return on equity 5.9% · Return on assets (EBIT) 4.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 11% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −22% fair-value upside, at −21%, CPAMF screens cheaper than that median.
Fair Value models
All 16 models by family
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Set up alert →Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 59
Revenue & earnings trend
Growth Forecast
CPAMF screens overvalued: fair value 21% below the price. Compare with Simon Property Group →
Earlier news
- CapitaLand Integrated Commercial Trust (CPAMF) (H1 2026) Earnings Call Highlights: Record NPI ...
- CapitaLand Integrated Commercial Trust Q1 Net Property Income, Revenue Rise
- CapitaLand Integrated Commercial Trust Just Beat EPS By 12%: Here's What Analysts Think Will Happen Next
- CapitaLand Integrated Commercial Trust's (SGX:C38U) largest shareholders are individual investors with 52% ownership, institutions own 40%
Compare CapitaLand Integrated Commercial Trust (CICT or the Trust) with another stock
Price, fair value, quality and upside side by side.
Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more REIT - Retail stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Simon Property Group SPG | $200.76 | $114.08 | −43% |
| Realty Income Corporation O | $55.35 | $87.76 | +59% |
| Kimco Realty Corporation KIM | $22.49 | $17.46 | −22% |
| Unibail-Rodamco-Westfield SE URW | €91.72 | €70.12 | −24% |
| Regency Centers Corporation REG | $73.23 | $38.95 | −47% |
| Scentre Group SCG | A$3.35 | A$3.49 | +4% |
| Link Real Estate Investment Trust (Link REIT) 0823 | HK$37.02 | HK$38.68 | +4% |
| Federal Realty Investment Trust FRT | $108.29 | $40.55 | −63% |
| Brixmor Property Group BRX | $28.07 | $18.82 | −33% |
| Agree Realty Corporation ADC | $66.81 | $99.94 | +50% |
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Frequently asked questions
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Key figures of CapitaLand Integrated Commercial Trust (CICT or the Trust)
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What is the EBIT return on assets of CapitaLand Integrated Commercial Trust (CICT or the Trust) (CPAMF)?
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