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Starhill Global Real Estate Investment Trust (P40U) Fair Value & Analysis

Real Estate · SG · Market cap 1.3B SGD

SG Starhill Global Real Estate Investment Trust P40U · SG
Price0.5450 SGD
Fair Value0.5500 SGD
Upside+0.9%
Quality63/100
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Evidence: High Range 0.4000 SGD – 0.5500 SGD

Fair value as of: Jul 4, 2026

From 23 valuation models · updated yesterday

Share price +0.9% over the past month.

Price vs Fair Value (12 months)

0.5818 SGD 0.4873 SGD Fair Value 0.5500 SGD Jul 2025 Jul 2026

12‑month range 0.4873 SGD – 0.5818 SGD · fair‑value band 0.4000 SGD – 0.5500 SGD · the 0.5450 SGD price screens below the 0.5500 SGD fair value. As of Jul 4, 2026.

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Analysis

Starhill Global Real Estate Investment Trust (P40U) currently trades at 0.5450 SGD, while our model-based Fair Value estimate is 0.5500 SGD — implying the stock looks roughly 0.9% undervalued today. We read business quality at 63/100 (solid 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.

Over the trailing twelve months, Starhill Global Real Estate Investment Trust generated revenue of 192M SGD at a net margin of 56.8%. It earns a return on equity of 6.2%. Net debt stands at 935M SGD. The stock trades on a trailing P/E of 9.1. Fundamentals as of Jul 4, 2026

Key figures & financial health

Revenue (TTM) 192M SGD
Net margin 56.8%
Return on equity 6.2%
Free cash flow 115M SGD FY2025
P/E ratio 9.1
Operating margin 66.7%
More key figures
EPS (TTM) 0.0600 SGD
Dividend yield 6.8%
EPS growth (YoY) -0.5%
Net debt 935M SGD FY2025

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

About the company

Starhill Global Real Estate Investment Trust is a Singapore-based real estate investment trust investing primarily in real estate used for retail and office purposes, both in Singapore and overseas. Since its listing on the Mainboard of the Singapore Exchange Securities Trading Limited on 20 September 2005, Starhill Global REIT has grown its initial portfolio from interests in two landmark properties on Orchard Road in Singapore to nine properties in Singapore, Australia, Malaysia, Japan and China, valued at about S$2.8 billion as at 30 June 2025. These comprise interests in Wisma Atria and Ngee Ann City on Orchard Road in Singapore; Myer Centre Adelaide, David Jones Building and Plaza Arcade in Adelaide and Perth, Australia; The Starhill and Lot 10 Property in Kuala Lumpur, Malaysia; and a property each in Tokyo, Japan and Chengdu, China. Starhill Global REIT remains focused on sourcing attractive property assets in Singapore and overseas, while driving organic growth from its …

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Starhill Global Real Estate Investment Trust reported revenue of 192M SGD in FY2025 versus 181M SGD in FY2021, a compound +1.5%/yr. Reported net income was 87.8M SGD in FY2025, compounding −0.1%/yr from FY2021.

Revenue +1.5%/yr
FY21 181M SGD
FY22 186M SGD
FY23 188M SGD
FY24 190M SGD
FY25 192M SGD
Net income −0.1%/yr
FY21 88.2M SGD
FY22 89.8M SGD
FY23 88.9M SGD
FY24 84.7M SGD
FY25 87.8M SGD

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Frequently asked questions

Is Starhill Global Real Estate Investment Trust (P40U) undervalued?
As of Jul 4, 2026, our model estimates a fair value of 0.5500 SGD versus a price of 0.5450 SGD — about +1% (undervalued). Model-based estimate, not financial advice.
What is the fair value of P40U?
Our model-based fair value for Starhill Global Real Estate Investment Trust is 0.5500 SGD (as of Jul 4, 2026), built from audited fundamentals. The current price is 0.5450 SGD.
What is the quality score of P40U?
Starhill Global Real Estate Investment Trust has a Quality Score of 63/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Starhill Global Real Estate Investment Trust (P40U)?
Starhill Global Real Estate Investment Trust reported trailing-twelve-month revenue of about 192M SGD (latest available figure, as of Jul 4, 2026).
What is the net profit margin of P40U?
The net profit margin of Starhill Global Real Estate Investment Trust is about 56.8%, meaning it keeps roughly 56.8% of revenue as net income. Based on the latest reported figures.
Does Starhill Global Real Estate Investment Trust pay a dividend?
Starhill Global Real Estate Investment Trust currently shows a dividend yield of about 6.79% 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.