Ascendas India Trust (CY6U) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Ascendas India Trust S$1.50, price S$0.91, upside +64.8%, quality 48 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 0.7868 SGD – 1.27 SGD · fair‑value band 0.7300 SGD – 2.61 SGD · the 0.9100 SGD price screens below the 1.50 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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CapitaLand India Trust (CLINT or the Trust) is Singapore's first listed property trust, which owns eight world-class IT business parks, three industrial facilities, one logistics park and three data centre developments in India, valued at S$3.8 billion as at 31 December 2025.
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CapitaLand India Trust (CLINT or the Trust) is Singapore's first listed property trust, which owns eight world-class IT business parks, three industrial facilities, one logistics park and three data centre developments in India, valued at S$3.8 billion as at 31 December 2025. With a total completed floor area of 21.7 million square feet spread across Bangalore, Chennai, Hyderabad, Pune and Mumbai, CLINT is focused on capitalizing on the growing IT industry, industrial and logistics asset class, and new economy asset classes, such as data centres. CLINT is structured as a business trust, offering stable income distributions similar to a real estate investment trust. CLINT focuses on enhancing shareholder value by actively managing existing properties, developing vacant land in its portfolio and acquiring new properties. CLINT's properties provide modern and high-quality business spaces to its tenants. This helps CLINT attract and retain prominent tenants that commit to long leases, thereby fostering a stable income profile for the Trust. The Trust's growth is founded on a prudent approach to capital management. CLINT is geared towards maintaining a strong balance sheet that meets the liquidity needs of the business CapitaLand India Trust was established on December 07, 2004 and incorporated in Singapore.
Stock analysis
Ascendas India Trust (CY6U) currently trades at 0.9100 SGD, while our model-based Fair Value estimate is 1.50 SGD, implying the stock looks roughly 39.3% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 1.62 SGD per share, and 12 of the 16 models we run sit above the 0.9100 SGD price.
Bear case: the Dividend Discount group reads lowest at 0.8300 SGD, and 4 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.7300 SGD (bear) to 2.61 SGD (bull), the price of 0.9100 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 48/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Ascendas India Trust reported revenue of 294M SGD in FY2025 versus 193M SGD in FY2021, a compound +11.2%/yr. Reported net income was 322M SGD in FY2025, compounding +13.8%/yr from FY2021.
Key figures
Market cap 1.5B SGD (≈ $1.2B) · P/E ratio 3.8 · P/S ratio 4.15 · EPS (TTM) 0.2400 SGD · Dividend yield 8.7% · Net margin 110% · Return on equity 29.1% · Return on assets (EBIT) 4.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 29% 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 −10% fair-value upside, at 65%, CY6U screens cheaper than that median.
Fair Value models
Bear 0.7300 SGDFair Value 1.50 SGDBull 2.61 SGD
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.1213 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.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.79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.9%
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.
+11.8%
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.
+9.0%
Start year 2020 (pandemic). Over 10 years: +7.4% a year
Revenue growth 12 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.
+7.7%
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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. Basis: EBIT basis.
≈ +8.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.2%
Dividend (yield on the price)8.7%
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.11.2% vs 4.8%, picking up
Profit margin 2020 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.101% → 65%
Start year 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 101% above its own trend.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
+10.8%
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.
+8.0%
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 +8.5% a year for the price and +5.8% for the forecasts.
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.Real Estate Services · 525 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside+64.8% · Above median
Profitability
Return on equity (TTM)29.1% · Top 25%
Return on assets3.4% · Top 25%
Net margin (TTM)161.2% · Top 25%
Operating margin (TTM)61.5% · Top 25%
Growth and dividend
Revenue growth14.6% · Above median
Dividend yield (TTM)8.7% · Top 25%
Balance sheet
Debt / equity0.57× · Above median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Ascendas India Trust Fair Value". https://www.fairvalue-calculator.com/stock/CY6U
Frequently asked questions
Is Ascendas India Trust (CY6U) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 1.50 SGD versus a price of 0.9100 SGD, about +65% upside (undervalued).
What is the fair value of CY6U?
Our model-based fair value for Ascendas India Trust is 1.50 SGD (as of Sep 27, 2026), built from audited fundamentals. The current price: 0.9100 SGD.
What is the quality score of CY6U?
Ascendas India Trust has a Quality Score of 48/100. 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 India Trust (CY6U)?
Our model-based price target is the fair value of 1.50 SGD (as of Sep 27, 2026) from 16 valuation models. Cautious scenario 0.7300 SGD, optimistic scenario 2.61 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the Ascendas India Trust stock forecast for 2026?
Our models put fair value at 1.50 SGD, about +65% upside versus a price of 0.9100 SGD (undervalued). Cautious scenario 0.7300 SGD, optimistic scenario 2.61 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of Ascendas India Trust (CY6U)?
Ascendas India Trust reported trailing-twelve-month revenue of about 198M SGD (latest available figure, as of Sep 27, 2026).
Does Ascendas India Trust pay a dividend?
Ascendas India Trust currently shows a dividend yield of about 8.68% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Ascendas India Trust (CY6U)?
For today's price to be fair in a discounted-cash-flow model, Ascendas India Trust would have to grow free cash flow by +10.8 % per year for five years (discount rate 10.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.0 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of CY6U use?
Our models discount Ascendas India Trust at 10.0 %: a base by market capitalisation (small), damped by beta 0.65, 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 India Trust that is +10.8 % per year a year over ten years, using the same discount rate (10.0 %) and the same formula as our fair value.
How much growth has Ascendas India Trust (CY6U) delivered so far?
Over the past 5 years revenue at Ascendas India Trust grew +9.0 % a year. The price currently implies +10.8 % 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 Ascendas India Trust (CY6U) growing?
The median revenue growth in the sector is +1.9 % a year. That is the yardstick for the growth priced into Ascendas India Trust (+10.8 % 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 Ascendas India Trust (CY6U)?
The free-cash-flow yield on the price is 10.97 %: that much free cash flow Ascendas India Trust produces per unit of market value. When it exceeds the discount rate of our models (10.0 %), 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 India Trust (CY6U)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ascendas India Trust it is 1.50 SGD per share (as of Sep 27, 2026), against a price of 0.9100 SGD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Ascendas India Trust stock overvalued or undervalued in 2026?
As of Sep 27, 2026, CY6U trades below its calculated fair value: price 0.9100 SGD, fair value 1.50 SGD, a gap of about +65% (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 CY6U?
No. The price is what the market pays today (0.9100 SGD); the fair value is what the company's own numbers justify (1.50 SGD). For Ascendas India Trust the two are 0.5900 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is Ascendas India Trust worth?
The market values Ascendas India Trust at about 1.5B SGD (market capitalisation, as of Sep 27, 2026). Per share that is 0.9100 SGD; our models calculate a fair value of 1.50 SGD per share.
What do the bullish and bearish scenarios say about CY6U?
Our models span a range for Ascendas India Trust: cautious scenario 0.7300 SGD, base 1.50 SGD, optimistic 2.61 SGD per share (as of Sep 27, 2026, price 0.9100 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CY6U?
Ascendas India Trust trades at a price-to-earnings ratio of 3.8 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.50 SGD is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 20.0 (reported for FY2025: 3.8). Other multiples: PEG 3.9, P/B 0.8, P/S 7.8, EV/EBITDA 19.8.
What is the PEG ratio of CY6U?
The PEG ratio of Ascendas India Trust is 3.95 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Ascendas India Trust (CY6U)?
Balance-sheet figures for Ascendas India Trust (as of Sep 27, 2026): return on equity 29.1%, debt of 0.57 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is CY6U from its 52-week high?
Ascendas India Trust trades at 0.9100 SGD, about 29% below its 52-week high of 1.27 SGD and at the low of 0.9100 SGD (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 1.50 SGD is for.
Which stocks are comparable to Ascendas India Trust?
From the same area (Real Estate) we also value CBRE Group, KE Holdings, Swire Properties Limited, Cellnex Telecom, 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 Ascendas India Trust stock attractive at the current price?
The data as of Sep 27, 2026: price 0.9100 SGD, calculated fair value 1.50 SGD (+65%), Quality Score 48/100, from 16 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 CY6U calculated?
We run Ascendas India Trust through 16 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 1.50 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 14.5 % above its aggregate fair value. Ascendas India Trust currently trades 39 % 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 India Trust (CY6U)?
The closing price on Oct 2, 2026 was 0.9100 SGD. Our model-based fair value is 1.50 SGD, about +65% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ascendas India Trust right now?
The model range is unusually wide (0.7300 SGD to 2.61 SGD). 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 (48/100) 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 Ascendas India Trust
How large is the market capitalisation of Ascendas India Trust (CY6U)?
The market capitalisation of Ascendas India Trust is 1.5B SGD (≈ $1.2B). 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 India Trust (CY6U)?
The price-to-sales ratio of Ascendas India Trust is 4.15 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ascendas India Trust (CY6U)?
Earnings per share at Ascendas India Trust are 0.2400 SGD (price ÷ EPS = P/E 3.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ascendas India Trust (CY6U)?
The dividend yield of Ascendas India Trust is 8.7% (payout 172%, on adjusted earnings, reported 32.9%). 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 India Trust (CY6U)?
The net margin of Ascendas India Trust is 110% (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 Ascendas India Trust (CY6U)?
The return on equity (ROE) of Ascendas India Trust is 29.1% (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 India Trust (CY6U)?
On an EBIT basis the return on assets of Ascendas India Trust is 4.2% (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 India Trust (CY6U)?
The operating margin of Ascendas India Trust is 61.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ascendas India Trust (CY6U)?
Revenue at Ascendas India Trust is growing +14.6% versus a year earlier (3y avg +11.8%). 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 India Trust (CY6U)?
Earnings per share at Ascendas India Trust are growing +374% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Ascendas India Trust (CY6U) carry?
The net debt of Ascendas India Trust is 1.5B SGD (fiscal year 2025, ≈ 11.0 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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