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CDL Hospitality Trusts (J85) Fair Value & Analysis

Real Estate · SG · Market cap 974M SGD

CH CDL Hospitality Trusts J85 · SG
Price0.7950 SGD
Fair Value0.6100 SGD
Upside-23.3%
Quality51/100
Mixed Growth
Loss-making · -10.8% net margin
Moderate debt · generates free cash flow
6.23% dividend yield
Mixed vs. peers (6/14)
Narrow moat 37/100
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Evidence: High Range 0.2300 SGD – 0.9900 SGD Share as image

Fair value as of: Jul 4, 2026

From 15 valuation models · updated 27 days ago

Share price +2.6% over the past month.

What matters now

  • The model range is unusually wide (0.2300 SGD to 0.9900 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (12 months)

0.8750 SGD 0.7482 SGD Fair Value 0.6100 SGD Jul 2025 Jul 2026

12‑month range 0.7482 SGD – 0.8750 SGD · fair‑value band 0.2300 SGD – 0.9900 SGD · the 0.7950 SGD price screens above the 0.6100 SGD fair value. As of Jul 4, 2026.

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Analysis

CDL Hospitality Trusts (J85) currently trades at 0.7950 SGD, while our model-based Fair Value estimate is 0.6100 SGD, implying the stock looks roughly 23.3% overvalued today. We read business quality at 51/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, CDL Hospitality Trusts generated revenue of 268M SGD at a net margin of -10.8%. Revenue grew 7.2% year over year. It earns a return on equity of -1.6%. Net debt stands at 1.2B SGD. Fundamentals as of Jul 4, 2026

Our scenario range runs from 0.2300 SGD (bear case) to 0.9900 SGD (bull case); at 0.7950 SGD, the current price sits within that range. The share trades about 10% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -33% fair-value upside, at -23%, J85 screens cheaper than that median.

Key figures & financial health

Revenue (TTM) 268M SGD
Revenue growth (YoY) +7.2%
Net margin -10.8%
Return on equity -1.6%
Free cash flow 71.7M SGD FY2025
Operating margin 33.3%
More key figures
EPS (TTM) -0.0200 SGD
Dividend yield 6.2%
EPS growth (YoY) -97.3%
Net debt 1.2B SGD FY2025

Figures from reported company fundamentals · as of Jul 4, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100
Profitability 7
Quality Growth 46
Cashflow 82
Fin. Strength 43
Investment 63
Low Volatility 100
Momentum 37
52W Momentum 36
Net Issuance 72

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

CDL Hospitality Trusts is a stapled group comprising CDL Hospitality Real Estate Investment Trust (H-REIT), the first hotel real estate investment trust in Singapore. CDL Hospitality Business Trust (HBT), a business trust. CDLHT was listed on the Main Board of Singapore Exchange Securities Trading Limited on 19 July 2006.

Full company description

CDL Hospitality Trusts is a stapled group comprising CDL Hospitality Real Estate Investment Trust (H-REIT), the first hotel real estate investment trust in Singapore. CDL Hospitality Business Trust (HBT), a business trust. CDLHT was listed on the Main Board of Singapore Exchange Securities Trading Limited on 19 July 2006. CDLHT is one of Asia's leading hospitality trusts with assets under management of S3.5 billion dollar and market capitalization of S1.1 billion dollar as at 31 December 2025. As at 31 December 2025, CDLHT owns 22 properties across 8 countries, with a total of 4,924 hotel rooms, 352 BTR apartments, 404 PBSA beds and a retail mall. The portfolio comprises six hotels and a retail mall in Singapore, two hotels in Australia, one hotel in New Zealand, two hotels in Japan, four hotels and two living assets in the United Kingdom, one hotel in Germany, one hotel in Italy and two resorts in the Maldives. The substantial value of its assets is concentrated in the central locations of Singapore. CDL Hospitality Trusts was established on June 12, 2006 and incorporated in 2006.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CDL Hospitality Trusts reported revenue of 268M SGD in FY2025 versus 158M SGD in FY2021, a compound +14.1%/yr. Reported net income was −28.8M SGD in FY2025.

Revenue +14.1%/yr
FY21 158M SGD
FY22 229M SGD
FY23 258M SGD
FY24 260M SGD
FY25 268M SGD
Net income
FY21 67.9M SGD
FY22 215M SGD
FY23 123M SGD
FY24 14.4M SGD
FY25 −28.8M SGD

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Cite: Fair Value Calculator (2026). "CDL Hospitality Trusts Fair Value". https://www.fairvalue-calculator.com/stock/J85

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 2 / 3
FUTURE 36 / 7
PAST 0 / 6
HEALTH 73 / 70
DIVIDEND 100 / 65

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 REIT - Hotel & Motel stocks, each showing price versus our Fair Value estimate (as of Jul 4, 2026).

Stock Price Fair Value vs Fair Value
Host Hotels & Resorts, Inc HST $24.50 $16.49 -33%
Ryman Hospitality Properties, Inc RHP $129.77 $48.74 -62%
COVH COVH €23.20 €40.93 +76%
Apple Hospitality REIT, Inc APLE $16.64 $12.63 -24%
Park Hotels & Resorts inc. PK $14.34 $20.58 +44%
DiamondRock Hospitality Company DRH $12.31 $6.25 -49%
Sunstone Hotel Investors, Inc SHO $11.74 $3.89 -67%
Pebblebrook Hotel Trust PEB $18.36 $43.55 +137%
Xenia Hotels & Resorts, Inc XHR $21.49 $11.63 -46%
RLJ Lodging Trust (RLJ) RLJ $11.36 $6.57 -42%

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Frequently asked questions

Is CDL Hospitality Trusts (J85) overvalued or undervalued?
As of Jul 4, 2026, our model estimates a fair value of 0.6100 SGD versus a price of 0.7950 SGD, about −23% (overvalued).
What is the fair value of J85?
Our model-based fair value for CDL Hospitality Trusts is 0.6100 SGD (as of Jul 4, 2026), built from audited fundamentals. The current price is 0.7950 SGD.
What is the quality score of J85?
CDL Hospitality Trusts has a Quality Score of 51/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of CDL Hospitality Trusts (J85)?
CDL Hospitality Trusts reported trailing-twelve-month revenue of about 268M SGD (latest available figure, as of Jul 4, 2026).
What is the net profit margin of J85?
The net profit margin of CDL Hospitality Trusts is about -10.8%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does CDL Hospitality Trusts pay a dividend?
CDL Hospitality Trusts currently shows a dividend yield of about 6.23% relative to its recent price (as of Jul 4, 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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