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Keppel REIT (K71U) Fair Value & Analysis

Real Estate · SG · Market cap 4.3B SGD

KR Keppel REIT K71U · SG
Price0.8650 SGD
Fair Value0.3600 SGD
Upside-58.4%
Quality58/100
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Evidence: Medium Range 0.2700 SGD – 0.4500 SGD

Fair value as of: Jul 4, 2026

From 23 valuation models · updated yesterday

Share price +1.2% over the past month.

Price vs Fair Value (12 months)

1.07 SGD 0.8400 SGD Fair Value 0.3600 SGD Jul 2025 Jul 2026

12‑month range 0.8400 SGD – 1.07 SGD · fair‑value band 0.2700 SGD – 0.4500 SGD · the 0.8650 SGD price screens above the 0.3600 SGD fair value. As of Jul 4, 2026.

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Analysis

Keppel REIT (K71U) currently trades at 0.8650 SGD, while our model-based Fair Value estimate is 0.3600 SGD — implying the stock looks roughly 58.4% overvalued today. We read business quality at 58/100 (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: medium).

Trailing-twelve-month revenue stands at 399M SGD. Revenue grew 5.2% year over year. It earns a return on equity of 8.7%. Net debt stands at 3.6B SGD. Fundamentals as of Jul 4, 2026

Key figures & financial health

Revenue (TTM) 399M SGD
Revenue growth (YoY) +5.2%
Net margin 114%
Return on equity 8.7%
Free cash flow 223M SGD FY2025
P/E ratio 7.8
More key figures
Operating margin 68.5%
EPS (TTM) 0.1100 SGD
Dividend yield 6.1%
EPS growth (YoY) +337%
Net debt 3.6B SGD FY2025

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

About the company

Keppel REIT is one of Asia's leading real estate investment trusts with a portfolio of prime commercial assets in Asia Pacific's key business districts. Keppel REIT's objective is to generate stable income and sustainable long-term total return for its Unitholders by owning and investing in a portfolio of quality income-producing commercial real estate and real estate-related assets in Asia Pacific. Keppel REIT has a portfolio value of over 11 billion dollars, comprising properties in Singapore; the key Australian cities of Sydney, Melbourne and Perth; Seoul, South Korea; as well as Tokyo, Japan. Keppel REIT is managed by Keppel REIT Management Limited and sponsored by Keppel, a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Keppel REIT was established on November 28, 2005 and incorporated in Singapore.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Keppel REIT reported revenue of 274M SGD in FY2025 versus 217M SGD in FY2021, a compound +6.1%/yr. Reported net income was 454M SGD in FY2025, compounding +17.2%/yr from FY2021.

Revenue +6.1%/yr
FY21 217M SGD
FY22 219M SGD
FY23 233M SGD
FY24 262M SGD
FY25 274M SGD
Net income +17.2%/yr
FY21 241M SGD
FY22 415M SGD
FY23 178M SGD
FY24 108M SGD
FY25 454M SGD

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Similar stocks

6 more REIT - Office stocks, each showing price versus our Fair Value estimate (as of Jul 4, 2026).

Stock Price Fair Value vs Fair Value
MERLIN Properties SOCIMI, S.A MRL €15.23 €7.92 -48%
BXP, Inc BXP $64.91 $60.75 -6%
Alexandria Real Estate Equities, Inc A1RE34 R$67.25 R$14.87 -78%
Vornado Realty Trust VNORP $51.75 $47.22 -9%
Gecina GECFF $87.89 $128.26 +46%
Hudson Pacific Properties, Inc HPP $14.62 $0.9700 -93%

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Frequently asked questions

Is Keppel REIT (K71U) undervalued?
As of Jul 4, 2026, our model estimates a fair value of 0.3600 SGD versus a price of 0.8650 SGD — about −58% (overvalued). Model-based estimate, not financial advice.
What is the fair value of K71U?
Our model-based fair value for Keppel REIT is 0.3600 SGD (as of Jul 4, 2026), built from audited fundamentals. The current price is 0.8650 SGD.
What is the quality score of K71U?
Keppel REIT has a Quality Score of 58/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Keppel REIT (K71U)?
Keppel REIT reported trailing-twelve-month revenue of about 399M SGD (latest available figure, as of Jul 4, 2026).
What is the net profit margin of K71U?
The net profit margin of Keppel REIT is about 113.9%, meaning it keeps roughly 113.9% of revenue as net income. Based on the latest reported figures.
Does Keppel REIT pay a dividend?
Keppel REIT currently shows a dividend yield of about 6.08% 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.