Lippo Malls Indonesia Retail Tr (D5IU) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Lippo Malls Indonesia Retail Tr S$0.01, price S$0.01, upside +10.6%, quality 59 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 Oct 2, 2026.
How to read this chart
60‑month range 0.0060 SGD – 0.0571 SGD · fair‑value band 0.0073 SGD – 0.0086 SGD · the 0.0070 SGD price screens below the 0.0077 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Landmark REIT, formerly Lippo Malls Indonesia Retail Trust, is the only Indonesia-exposed retail real estate investment trust listed on SGX Securities. It offers investors a unique opportunity to participate in the retail property sector in Southeast Asia's largest economy.
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Landmark REIT, formerly Lippo Malls Indonesia Retail Trust, is the only Indonesia-exposed retail real estate investment trust listed on SGX Securities. It offers investors a unique opportunity to participate in the retail property sector in Southeast Asia's largest economy. With the rebranding, the Trust has expanded its investment mandate to pursue a diversified, multi-asset and multi-geography approach with a focus on real estate opportunities across Asia. Landmark REIT's portfolio comprises 29 retail properties (the Properties) with a total net lettable area of 948,468 square meters and total carrying value of Rp18,609.8 billion as at 31 March 2026. The Properties are strategically located in major cities of Indonesia with large middle-income population. Tenants include well-known retailers such as Hypermart, Matahari Department Store and Sogo, as well as popular consumer brands including Zara, Uniqlo, H&M, Adidas, Victoria Secret, Giordano, Starbucks, Fitness First, Timezone, Miniso and AZKO, among others. Landmark REIT was incorporated in 2007 in Singapore.
Stock analysis
Lippo Malls Indonesia Retail Tr (D5IU) currently trades at 0.0070 SGD, while our model-based Fair Value estimate is 0.0077 SGD, implying the stock looks roughly 9.6% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 0.0500 SGD per share, and 14 of the 14 models we run sit above the 0.0070 SGD price.
Bear case: the Asset-Based group reads lowest at 0.0200 SGD, and 0 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.0073 SGD (bear) to 0.0086 SGD (bull), the price of 0.0070 SGD sits below 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 59/100 (solid quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Lippo Malls Indonesia Retail Tr reported revenue of 205M SGD in FY2025 versus 175M SGD in FY2021, a compound +4.0%/yr. Reported net income was 32.0M SGD in FY2025.
Key figures
Market cap 136M SGD (≈ $106M) · P/S ratio 0.66 · Net margin 15.6% · Return on equity 7.5% · Return on assets (EBIT) 5.8% · Operating margin 54.3% · Revenue (TTM) 208M SGD · Revenue growth (YoY) +1.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 53% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −24% fair-value upside, at 11%, D5IU screens cheaper than that median.
Fair Value models
Bear 0.0073 SGDFair Value 0.0077 SGDBull 0.0086 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.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.78/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.4%
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.
+0.0%
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.
+6.7%
Start year 2020 (pandemic). Over 10 years: +1.7% 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.
+2.5%
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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.
+29.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.6%
Dividend (yield on the price)0.0%
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.29.6% vs −11.5%, picking up
Profit margin 2018 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.50% → 53%
Compare Lippo Malls Indonesia Retail Tr 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 - Retail · 92 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+10.6% · Above median
Profitability
Return on equity (TTM)3.8% · Bottom 25%
Return on assets4.5% · Top 25%
Net margin (TTM)12.8% · Bottom 25%
Operating margin (TTM)53.5% · Below median
Growth and dividend
Revenue growth4.6% · Below median
Balance sheet
Debt / equity0.93× · Highest 25%
Valuation Multiplesvs REIT - Retail 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). "Lippo Malls Indonesia Retail Tr Fair Value". https://www.fairvalue-calculator.com/stock/D5IU
Frequently asked questions
Is Lippo Malls Indonesia Retail Tr (D5IU) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of 0.0077 SGD versus a price of 0.0070 SGD, about +11% upside (undervalued).
What is the fair value of D5IU?
Our model-based fair value for Lippo Malls Indonesia Retail Tr is 0.0077 SGD (as of Oct 2, 2026), built from audited fundamentals. The current price: 0.0070 SGD.
What is the quality score of D5IU?
Lippo Malls Indonesia Retail Tr has a Quality Score of 59/100. 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 Lippo Malls Indonesia Retail Tr (D5IU)?
Our model-based price target is the fair value of 0.0077 SGD (as of Oct 2, 2026) from 14 valuation models. Cautious scenario 0.0073 SGD, optimistic scenario 0.0086 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the Lippo Malls Indonesia Retail Tr stock forecast for 2026?
Our models put fair value at 0.0077 SGD, about +11% upside versus a price of 0.0070 SGD (undervalued). Cautious scenario 0.0073 SGD, optimistic scenario 0.0086 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of Lippo Malls Indonesia Retail Tr (D5IU)?
Lippo Malls Indonesia Retail Tr reported trailing-twelve-month revenue of about 208M SGD (latest available figure, as of Oct 2, 2026).
What is the intrinsic value of Lippo Malls Indonesia Retail Tr (D5IU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lippo Malls Indonesia Retail Tr it is 0.0077 SGD per share (as of Oct 2, 2026), against a price of 0.0070 SGD. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Lippo Malls Indonesia Retail Tr stock overvalued or undervalued in 2026?
As of Oct 2, 2026, D5IU trades below its calculated fair value: price 0.0070 SGD, fair value 0.0077 SGD, a gap of about +11% (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 D5IU?
No. The price is what the market pays today (0.0070 SGD); the fair value is what the company's own numbers justify (0.0077 SGD). For Lippo Malls Indonesia Retail Tr the two are 0.0007 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is Lippo Malls Indonesia Retail Tr worth?
The market values Lippo Malls Indonesia Retail Tr at about 136M SGD (market capitalisation, as of Oct 2, 2026). Per share that is 0.0070 SGD; our models calculate a fair value of 0.0077 SGD per share.
What do the bullish and bearish scenarios say about D5IU?
Our models span a range for Lippo Malls Indonesia Retail Tr: cautious scenario 0.0073 SGD, base 0.0077 SGD, optimistic 0.0086 SGD per share (as of Oct 2, 2026, price 0.0070 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Lippo Malls Indonesia Retail Tr (D5IU)?
Balance-sheet figures for Lippo Malls Indonesia Retail Tr (as of Oct 2, 2026): return on equity 3.8%, debt of 0.93 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is D5IU from its 52-week high?
Lippo Malls Indonesia Retail Tr trades at 0.0070 SGD, about 53% below its 52-week high of 0.0150 SGD and 17% above the low of 0.0060 SGD (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 0.0077 SGD is for.
Which stocks are comparable to Lippo Malls Indonesia Retail Tr?
From the same area (Real Estate) we also value Simon Property Group, Realty Income Corporation, Kimco Realty Corporation, Unibail-Rodamco-Westfield SE, 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 Lippo Malls Indonesia Retail Tr stock attractive at the current price?
The data as of Oct 2, 2026: price 0.0070 SGD, calculated fair value 0.0077 SGD (+11%), Quality Score 59/100, from 14 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 D5IU calculated?
We run Lippo Malls Indonesia Retail Tr through 14 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 0.0077 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. Lippo Malls Indonesia Retail Tr currently trades 10 % 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 Lippo Malls Indonesia Retail Tr (D5IU)?
The closing price on Oct 1, 2026 was 0.0070 SGD. Our model-based fair value is 0.0077 SGD, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lippo Malls Indonesia Retail Tr right now?
The price is below even our cautious bear case (0.0073 SGD). The market is more pessimistic than our downside scenario. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Lippo Malls Indonesia Retail Tr
How large is the market capitalisation of Lippo Malls Indonesia Retail Tr (D5IU)?
The market capitalisation of Lippo Malls Indonesia Retail Tr is 136M SGD (≈ $106M). 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 Lippo Malls Indonesia Retail Tr (D5IU)?
The price-to-sales ratio of Lippo Malls Indonesia Retail Tr is 0.66 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Lippo Malls Indonesia Retail Tr (D5IU)?
The net margin of Lippo Malls Indonesia Retail Tr is 15.6% (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 Lippo Malls Indonesia Retail Tr (D5IU)?
The return on equity (ROE) of Lippo Malls Indonesia Retail Tr is 7.5% (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 Lippo Malls Indonesia Retail Tr (D5IU)?
On an EBIT basis the return on assets of Lippo Malls Indonesia Retail Tr is 5.8% (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 Lippo Malls Indonesia Retail Tr (D5IU)?
The operating margin of Lippo Malls Indonesia Retail Tr is 54.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lippo Malls Indonesia Retail Tr (D5IU)?
Revenue at Lippo Malls Indonesia Retail Tr is growing +1.0% versus a year earlier (3y avg +0.0%). 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 Lippo Malls Indonesia Retail Tr (D5IU)?
Earnings per share at Lippo Malls Indonesia Retail Tr are growing +239% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Lippo Malls Indonesia Retail Tr (D5IU) generate?
The free cash flow of Lippo Malls Indonesia Retail Tr is 77.2M SGD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Lippo Malls Indonesia Retail Tr (D5IU) carry?
The net debt of Lippo Malls Indonesia Retail Tr is 625M SGD (fiscal year 2025, ≈ 8.1 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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