Lendlease Global Commercial REIT (JYEU) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Lendlease Global Commercial REIT S$0.51, price S$0.55, upside -6.4%, quality 50 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 0.4161 SGD – 0.6740 SGD · fair‑value band 0.2380 SGD – 1.13 SGD · the 0.5450 SGD price screens above the 0.5100 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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Lendlease Global Commercial REIT (Lendlease REIT) is established with the principal investment strategy of investing. It does it directly or indirectly in a diversified portfolio of stabilized income producing real estate assets located globally, which are used primarily for retail and/or office purposes.
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Lendlease Global Commercial REIT (Lendlease REIT) is established with the principal investment strategy of investing. It does it directly or indirectly in a diversified portfolio of stabilized income producing real estate assets located globally, which are used primarily for retail and/or office purposes. As at 31 March 2026, its portfolio comprises leasehold properties in Singapore namely Jem and PLQ Mall (suburban retail properties), 313 at somerset (a prime retail property) and freehold interest in three Grade A commercial buildings in Milan. These properties have a total value of approximately S4.2 billion dollars. Other investments include a stake in Parkway Parade (an office and retail property) and development of a multifunctional event space on a site adjacent to 313 at somerset. Lendlease REIT is managed by Lendlease Global Commercial Trust Management Pte. Ltd., an indirect wholly owned subsidiary of Lendlease Corporation Limited. Lendlease Global Commercial REIT was incorporated on 29th January 2019 in Singapore.
Stock analysis
Lendlease Global Commercial REIT (JYEU) currently trades at 0.5450 SGD, while our model-based Fair Value estimate is 0.5100 SGD, so the stock looks roughly fairly valued today (gap 6.9%).
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Valuation
Bull case: the Economic Profit group reads highest at a median of 0.5600 SGD per share, and 6 of the 16 models we run sit above the 0.5450 SGD price.
Bear case: the Growth DCF group reads lowest at 0.2800 SGD, and 10 of the 16 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.2380 SGD (bear) to 1.13 SGD (bull), the price of 0.5450 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 50/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Lendlease Global Commercial REIT reported revenue of 212M SGD in FY2026 versus 102M SGD in FY2022, a compound +20.2%/yr. Reported net income was 121M SGD in FY2026, compounding −3.8%/yr from FY2022.
Key figures
Market cap 1.8B SGD (≈ $1.4B) · P/E ratio 13.6 · P/S ratio 7.81 · EPS (TTM) 0.0400 SGD · Dividend yield 6.8% · Net margin 57.3% · Return on equity 5.2% · Return on assets (EBIT) 3.0%.
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 16% 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 −3% fair-value upside, at −6%, JYEU screens richer than that median.
Fair Value models
Bear 0.2380 SGDFair Value 0.5100 SGDBull 1.13 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 2026 figures (about 3 months old). Earnings retained since then (0.0008 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.95/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.6%
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.
+1.1%
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.
+22.1%
Start year 2021 (pandemic)
Revenue growth 7 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.
+38.7%
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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.
−3.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−10.2%
Dividend (yield on the price)6.8%
Profit margin 2020 to 2026 ⓘ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.60% → 61%
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than 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).
+14.6%
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.
+5.3%
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 +12.4% a year for the price and +3.2% for the forecasts.
Compare Lendlease Global Commercial REIT 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 - Diversified · 153 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+10.1% · Above median
Profitability
Return on equity (TTM)5.2% · Above median
Return on assets2.2% · Below median
Net margin (TTM)53.3% · Above median
Operating margin (TTM)61.3% · Above median
Growth and dividend
Revenue growth8.8% · Above median
Dividend yield (TTM)6.8% · Above median
Balance sheet
Debt / equity0.57× · Above median
Valuation Multiplesvs REIT - Diversified median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Lendlease Global Commercial REIT Fair Value". https://www.fairvalue-calculator.com/stock/JYEU
Frequently asked questions
Is Lendlease Global Commercial REIT (JYEU) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of 0.5100 SGD versus a price of 0.5450 SGD, about −6% upside (fairly valued).
What is the fair value of JYEU?
Our model-based fair value for Lendlease Global Commercial REIT is 0.5100 SGD (as of Oct 2, 2026), built from audited fundamentals. The current price: 0.5450 SGD.
What is the quality score of JYEU?
Lendlease Global Commercial REIT has a Quality Score of 50/100. 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 Lendlease Global Commercial REIT (JYEU)?
Our model-based price target is the fair value of 0.5100 SGD (as of Oct 2, 2026) from 16 valuation models. Cautious scenario 0.2380 SGD, optimistic scenario 1.13 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the Lendlease Global Commercial REIT stock forecast for 2026?
Our models put fair value at 0.5100 SGD, about −6% upside versus a price of 0.5450 SGD (fairly valued). Cautious scenario 0.2380 SGD, optimistic scenario 1.13 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of Lendlease Global Commercial REIT (JYEU)?
Lendlease Global Commercial REIT reported trailing-twelve-month revenue of about 228M SGD (latest available figure, as of Oct 2, 2026).
Does Lendlease Global Commercial REIT pay a dividend?
Lendlease Global Commercial REIT currently shows a dividend yield of about 6.79% relative to its recent price (as of Oct 2, 2026).
What growth is priced into Lendlease Global Commercial REIT (JYEU)?
For today's price to be fair in a discounted-cash-flow model, Lendlease Global Commercial REIT would have to grow free cash flow by +14.6 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +22.1 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of JYEU use?
Our models discount Lendlease Global Commercial REIT at 9.9 %: a base by market capitalisation (small), damped by beta 0.60, 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 Lendlease Global Commercial REIT that is +14.6 % per year a year over ten years, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has Lendlease Global Commercial REIT (JYEU) delivered so far?
Over the past 5 years revenue at Lendlease Global Commercial REIT grew +22.1 % a year. The price currently implies +14.6 % 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 Lendlease Global Commercial REIT (JYEU) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Lendlease Global Commercial REIT (+14.6 % 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 Lendlease Global Commercial REIT (JYEU)?
The free-cash-flow yield on the price is 7.35 %: that much free cash flow Lendlease Global Commercial REIT produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Lendlease Global Commercial REIT (JYEU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lendlease Global Commercial REIT it is 0.5100 SGD per share (as of Oct 2, 2026), against a price of 0.5450 SGD. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Lendlease Global Commercial REIT stock overvalued or undervalued in 2026?
As of Oct 2, 2026, JYEU trades above its calculated fair value: price 0.5450 SGD, fair value 0.5100 SGD, a gap of about −6% (fairly valued). 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 JYEU?
No. The price is what the market pays today (0.5450 SGD); the fair value is what the company's own numbers justify (0.5100 SGD). For Lendlease Global Commercial REIT the two are 0.0350 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is Lendlease Global Commercial REIT worth?
The market values Lendlease Global Commercial REIT at about 1.8B SGD (market capitalisation, as of Oct 2, 2026). Per share that is 0.5450 SGD; our models calculate a fair value of 0.5100 SGD per share.
What do the bullish and bearish scenarios say about JYEU?
Our models span a range for Lendlease Global Commercial REIT: cautious scenario 0.2380 SGD, base 0.5100 SGD, optimistic 1.13 SGD per share (as of Oct 2, 2026, price 0.5450 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JYEU?
Lendlease Global Commercial REIT trades at a price-to-earnings ratio of 13.6 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.5100 SGD is built from several models across several years. Excluding one-off items of fiscal year 2026 it is 22.2 (reported for FY2026: 14.9). Other multiples: P/B 0.7, P/S 8.0, EV/EBITDA 21.6.
How solid is the balance sheet of Lendlease Global Commercial REIT (JYEU)?
Balance-sheet figures for Lendlease Global Commercial REIT (as of Oct 2, 2026): return on equity 5.2%, debt of 0.57 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is JYEU from its 52-week high?
Lendlease Global Commercial REIT trades at 0.5450 SGD, about 16% below its 52-week high of 0.6494 SGD and 3% above the low of 0.5300 SGD (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 0.5100 SGD is for.
Which stocks are comparable to Lendlease Global Commercial REIT?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Stockland, 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 Lendlease Global Commercial REIT stock attractive at the current price?
The data as of Oct 2, 2026: price 0.5450 SGD, calculated fair value 0.5100 SGD (−6%), Quality Score 50/100, 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 JYEU calculated?
We run Lendlease Global Commercial REIT 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 0.5100 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. Lendlease Global Commercial REIT itself currently trades above fair value. 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 Lendlease Global Commercial REIT (JYEU)?
The closing price on Oct 2, 2026 was 0.5450 SGD. Our model-based fair value is 0.5100 SGD, about −6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lendlease Global Commercial REIT right now?
The model range is unusually wide (0.2380 SGD to 1.13 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension. 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 Lendlease Global Commercial REIT
How large is the market capitalisation of Lendlease Global Commercial REIT (JYEU)?
The market capitalisation of Lendlease Global Commercial REIT is 1.8B SGD (≈ $1.4B). 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 Lendlease Global Commercial REIT (JYEU)?
The price-to-sales ratio of Lendlease Global Commercial REIT is 7.81 (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 Lendlease Global Commercial REIT (JYEU)?
Earnings per share at Lendlease Global Commercial REIT are 0.0400 SGD (price ÷ EPS = P/E 13.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lendlease Global Commercial REIT (JYEU)?
The dividend yield of Lendlease Global Commercial REIT is 6.8% (payout 138%, on adjusted earnings, reported 92.5%). 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 Lendlease Global Commercial REIT (JYEU)?
The net margin of Lendlease Global Commercial REIT is 57.3% (fiscal year 2026). 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 Lendlease Global Commercial REIT (JYEU)?
The return on equity (ROE) of Lendlease Global Commercial REIT is 5.2% (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 Lendlease Global Commercial REIT (JYEU)?
On an EBIT basis the return on assets of Lendlease Global Commercial REIT is 3.0% (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 Lendlease Global Commercial REIT (JYEU)?
The operating margin of Lendlease Global Commercial REIT is 61.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lendlease Global Commercial REIT (JYEU)?
Revenue at Lendlease Global Commercial REIT is growing +8.8% versus a year earlier (3y avg +1.1%). 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 Lendlease Global Commercial REIT (JYEU)?
Earnings per share at Lendlease Global Commercial REIT are growing +46.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Lendlease Global Commercial REIT (JYEU) carry?
The net debt of Lendlease Global Commercial REIT is 1.6B SGD (fiscal year 2026, ≈ 12.1 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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