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Ascendas India Trust (CY6U) Fair Value & Analysis

Real Estate · SG · Market cap 1.5B SGD

AI Ascendas India Trust CY6U · SG
Price1.01 SGD
Fair Value1.29 SGD
Upside+27.7%
Quality49/100
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Mixed Growth
Highly profitable · 161.2% net margin
Moderate debt · generates free cash flow
13.27% dividend yield
Ranks above peers (9/15)
Evidence: High Range 0.9700 SGD – 1.80 SGD Share as image

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 4 days ago

Share price −1.0% over the past month.

Below-average quality, screening 28% undervalued on our models.

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What matters now

  • Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (0.9700 SGD to 1.80 SGD) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

1.27 SGD 0.7868 SGD Fair Value 1.29 SGD May 2021 Aug 2026

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 0.7868 SGD – 1.27 SGD · fair‑value band 0.9700 SGD – 1.80 SGD · the 1.01 SGD price screens below the 1.29 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Ascendas India Trust (CY6U) currently trades at 1.01 SGD, while our model-based Fair Value estimate is 1.29 SGD, implying the stock looks roughly 27.7% undervalued today. The Quality Score stands at 49/100 (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.

Trailing-twelve-month revenue stands at 198M SGD. Revenue grew 14.6% year over year. It earns a return on equity of 29.1%. Net debt stands at 1.5B SGD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.9700 SGD (bear case) to 1.80 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 21% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at 28%, CY6U 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.

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. Evidence
Highest evidence
Growth DCF 0.2300 SGD 0.6700 SGD 1.27 SGD 80
Residual Income 1.29 SGD 1.64 SGD 3.93 SGD 76
Rev-Margin DCF 0.2500 SGD 0.8400 SGD 1.54 SGD 74
All 16 models by family
DCF Models
FCF DCF 0.2300 SGD 0.7100 SGD 1.38 SGD 38
5Y Revenue Exit 0.2500 SGD 0.8400 SGD 1.61 SGD 39
5Y EBITDA Exit 0.6000 SGD 1.52 SGD 2.63 SGD 41
10Y Revenue Exit 0.2100 SGD 0.7200 SGD 1.44 SGD 36
10Y EBITDA Exit 0.4400 SGD 1.16 SGD 2.18 SGD 37
Dividend Discount
Gordon GGM 0.5100 SGD 0.9100 SGD 1.26 SGD 70
DDM Multi-Stage 0.5100 SGD 0.8300 SGD 0.9700 SGD 61
Multiples
P/S Multiple 0.9700 SGD 1.29 SGD 1.61 SGD 58
P/B Multiple 1.99 SGD 2.65 SGD 3.31 SGD 55
EV/EBIT 1.45 SGD 2.16 SGD 2.87 SGD 53
EV/EBITDA 1.01 SGD 1.58 SGD 2.14 SGD 54
EV/Revenue 0.3000 SGD 0.7200 SGD 1.14 SGD 43
Asset-Based
NCAV (Graham) 0.6600 SGD 0.8900 SGD 1.33 SGD 50
Growth DCF
Growth DCF 0.2300 SGD 0.6700 SGD 1.27 SGD 80
Rev-Margin DCF 0.2500 SGD 0.8400 SGD 1.54 SGD 74
Economic Profit
Residual Income 1.29 SGD 1.64 SGD 3.93 SGD 76

Widest divergence: Economic Profit (1.64 SGD) versus Growth DCF (0.6700 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 198M SGD
Revenue growth (YoY) +14.6%
Net margin 161%
Return on equity 29.1%
Free cash flow 135M SGD FY2025
P/E ratio 4.2
More key figures
Operating margin 61.5%
EPS (TTM) 0.2400 SGD
Dividend yield 13.3%
EPS growth (YoY) +374%
Net debt 1.5B SGD FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 49 · Market factors (momentum, volatility) 44

Profitability 44
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 35
Balance sheet, leverage, solvency risk
Investment 53
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 49
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
294M SGD
Latest YoY
+5.9%
Avg. growth/yr (3Y) 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.
+11.8%
Avg. growth/yr (5Y) 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.
+9.0%
Avg. growth/yr (12Y) 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.
+7.7%
Revenue +11.2%/yr
FY21 193M SGD
FY22 211M SGD
FY23 234M SGD
FY24 278M SGD
FY25 294M SGD
Net income +13.8%/yr
FY21 192M SGD
FY22 137M SGD
FY23 147M SGD
FY24 439M SGD
FY25 322M SGD

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Cite: Fair Value Calculator (2026). "Ascendas India Trust Fair Value". https://www.fairvalue-calculator.com/stock/CY6U

Peer Group

Real Estate Services · 530 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.

Quality Score 50 · Below median
Fair Value upside +28% · Above median
Return on equity (TTM) 29% · Top 25%
Return on assets 3% · Top 25%
Net margin (TTM) 161% · Top 25%
Operating margin (TTM) 61% · Top 25%
Revenue growth 15% · Top 25%
Dividend yield (TTM) 13.3% · Top 25%
Debt / equity 0.57× · Higher than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 4.2× · Cheaper than 75% of peers
P/B 0.61× · Cheaper than median
P/S (TTM) 6.07× · Pricier than 75% of peers
P/FCF 8.9× · Pricier than median
EV/EBITDA 17.2× · Pricier than median
PEG 3.95× · Pricier than 75% of peers

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.

VALUE 70 · sector 34
FUTURE 73 · sector 10
PAST 100 · sector 16
HEALTH 71 · sector 84
DIVIDEND 100 · sector 59

Values & ESG

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

None of the checked exposures detected

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

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 392.00 IDR 1,012 IDR +158%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is Ascendas India Trust (CY6U) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.29 SGD versus a price of 1.01 SGD, about +28% (undervalued).
What is the fair value of CY6U?
Our model-based fair value for Ascendas India Trust is 1.29 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 1.01 SGD.
What is the quality score of CY6U?
Ascendas India Trust has a Quality Score of 49/100. 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 revenue of Ascendas India Trust (CY6U)?
Ascendas India Trust reported trailing-twelve-month revenue of about 198M SGD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of CY6U?
The net profit margin of Ascendas India Trust is about 161.2%, meaning it keeps roughly 161.2% of revenue as net income. Based on the latest reported figures.
Does Ascendas India Trust pay a dividend?
Ascendas India Trust currently shows a dividend yield of about 13.27% relative to its recent price (as of Aug 13, 2026).

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.

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