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IREIT Global which (UD1U) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of IREIT Global which S$0.24, price S$0.19, upside +28.3%, quality 31 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Real Estate · SG · ISIN SG1AB8000006

IG Thin data Sep 24, 2026

IREIT Global which

UD1U · SG

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value 0.2400 SGD · Undervalued (+28.3%)
!Quality 31/100
!Weak Growth (revenue 5y +5.9 %/yr)
!Loss-making · -173.3% net margin (TTM)
!Moderate debt · negative free cash flow
!4.3% dividend yield · Watch coverage
!Trails peers (4/12)
!Narrow moat 35/100
!Evidence only low, so the estimate is less certain
!The models disagree: range 0.0800 SGD to 0.4000 SGD
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

0.4604 SGD 0.1630 SGD Fair Value 0.2400 SGD Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 0.1630 SGD – 0.4604 SGD · fair‑value band 0.0800 SGD – 0.4000 SGD · the 0.1870 SGD price screens below the 0.2400 SGD fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

IREIT Global which was listed on 13 August 2014, is the first Singapore-listed real estate investment trust with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real estate in Europe which is or will be primarily used for office, retail, industrial (including logistics and business parks), …

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IREIT Global which was listed on 13 August 2014, is the first Singapore-listed real estate investment trust with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real estate in Europe which is or will be primarily used for office, retail, industrial (including logistics and business parks), hospitality, hospitality related and other accommodation and/or lodging purposes, as well as real estate-related assets. IREIT Global current portfolio comprises five freehold office properties in Germany, four freehold office properties in Spain and 44 retail properties in France. IREIT Global is managed by IREIT Global Group Pte. Ltd., which is jointly owned by Tikehau Capital and City Developments Limited. Tikehau Capital is a global alternative asset management group listed in France, while CDL is a leading global real estate company listed in Singapore. IREIT Global was incorporated on November 1st, 2013, in Singapore.

Stock analysis

IREIT Global which (UD1U) currently trades at 0.1870 SGD, while our model-based Fair Value estimate is 0.2400 SGD, implying the stock looks roughly 22.1% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 0.2200 SGD per share, and 3 of the 5 models we run sit above the 0.1870 SGD price.

Bear case: the Multiples group reads lowest at 0.0300 SGD, and 2 of the 5 models stay below the price. Evidence for this calculation is low.

Scenario range: 0.0800 SGD (bear) to 0.4000 SGD (bull), the price of 0.1870 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 31/100 (below-average quality), in the Real Estate sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

IREIT Global which reported revenue of €50.4M in FY2025 versus €52.2M in FY2021, a compound −0.8%/yr. Reported net income was −€63.2M in FY2025.

Key figures

Market cap 251M SGD (≈ $197M) · P/S ratio 5.10 · EPS (TTM) −0.0900 SGD · Dividend yield 4.3% · Net margin −125% · Return on equity −18.3% · Return on assets (EBIT) 3.9% · Operating margin 54.8%.

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 36% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −1% fair-value upside, at 28%, UD1U screens cheaper than that median.

Fair Value models

Bear 0.0800 SGD Fair Value 0.2400 SGD Bull 0.4000 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.
Highest evidence
Gordon GGM 0.1100 SGD 0.1900 SGD 0.2500 SGD 66
DDM Multi-Stage 0.1100 SGD 0.1800 SGD 0.2100 SGD 65
EV/EBIT 0.1000 SGD 0.2100 SGD 0.3200 SGD 62
All 5 models by family
Dividend Discount
Gordon GGM 0.1100 SGD 0.1900 SGD 0.2500 SGD 66
DDM Multi-Stage 0.1100 SGD 0.1800 SGD 0.2100 SGD 65
Multiples
EV/EBIT 0.1000 SGD 0.2100 SGD 0.3200 SGD 62
EV/Revenue n/a 0.0300 SGD 0.1100 SGD 50
Asset-Based
NCAV (Graham) 0.1700 SGD 0.2200 SGD 0.3400 SGD 53

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Quality Score breakdown

Overall quality 31/100

Of which business quality 31 · Market factors (momentum, volatility) 32

Profitability 1
Margins and returns on capital today
Quality Growth 8
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 42
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 54
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 13/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−33.3%
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.
−6.5%
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.
+5.9%
Start year 2020 (pandemic). Over 10 years: +6.5% a year
Revenue growth 11 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.
+19.5%
Profit margin (trend) ⓘ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.
67.8% (2020) → 53.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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 - Office · 69 stocks

Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 32 · Bottom 25%
Fair Value upside +28.3% · Above median
Profitability
Return on assets 1.7% · Below median
Net margin (TTM) −173.3% · Bottom 25%
Operating margin (TTM) 54.8% · Above median
Growth and dividend
Revenue growth −2.3% · Below median
Dividend yield (TTM) 4.3% · Below median
Balance sheet
Debt / equity 0.76× · Above median

Valuation Multiplesvs REIT - Office median · lower = cheaper

P/B 0.44× · Cheaper than median
P/S (TTM) 3.95× · Pricier than median
EV/EBITDA 11.0× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)71 · sector 32
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 6
HEALTH (low debt)62 · sector 66
DIVIDEND (yield)86 · sector 100

Context: sector, industry, market

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

Similar stocks

10 more REIT - Office stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
BXP, Inc BXP $63.40 $38.36 −39%
Vornado Realty Trust VNORP $50.11 $49.54 −1%
MERLIN Properties SOCIMI, S.A MRL €12.26 €9.69 −21%
Alexandria Real Estate Equities, Inc ARE $49.93 $98.03 +96%
Hudson Pacific Properties, Inc HPP $12.08 $2.97 −75%
Mapletree Pan Asia Commercial Trust N2IU 1.22 SGD 1.26 SGD +3%
Cousins Properties Incorporated CUZ $28.65 $8.26 −71%
Kilroy Realty Corporation KRC $34.74 $35.56 +2%
Keppel DC REIT AJBU 2.14 SGD 3.04 SGD +42%
DEXUS DXS A$5.56 A$5.33 −4%

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IREIT Global which · Fair Value
0.2400 SGD +22%Fair Value
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Cite: Fair Value Calculator (2026). "IREIT Global which Fair Value". https://www.fairvalue-calculator.com/stock/UD1U

Frequently asked questions

Is IREIT Global which (UD1U) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 0.2400 SGD versus a price of 0.1870 SGD, about +28% upside (undervalued).
What is the fair value of UD1U?
Our model-based fair value for IREIT Global which is 0.2400 SGD (as of Sep 24, 2026), built from audited fundamentals. The current price: 0.1870 SGD.
What is the quality score of UD1U?
IREIT Global which has a Quality Score of 31/100. 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 IREIT Global which (UD1U)?
Our model-based price target is the fair value of 0.2400 SGD (as of Sep 24, 2026) from 5 valuation models. Cautious scenario 0.0800 SGD, optimistic scenario 0.4000 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the IREIT Global which stock forecast for 2026?
Our models put fair value at 0.2400 SGD, about +28% upside versus a price of 0.1870 SGD (undervalued). Cautious scenario 0.0800 SGD, optimistic scenario 0.4000 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of IREIT Global which (UD1U)?
IREIT Global which reported trailing-twelve-month revenue of about €49.8M (latest available figure, as of Sep 24, 2026).
Does IREIT Global which pay a dividend?
IREIT Global which currently shows a dividend yield of about 4.28% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of IREIT Global which (UD1U)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IREIT Global which it is 0.2400 SGD per share (as of Sep 24, 2026), against a price of 0.1870 SGD. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is IREIT Global which stock overvalued or undervalued in 2026?
As of Sep 24, 2026, UD1U trades below its calculated fair value: price 0.1870 SGD, fair value 0.2400 SGD, a gap of about +28% (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 UD1U?
No. The price is what the market pays today (0.1870 SGD); the fair value is what the company's own numbers justify (0.2400 SGD). For IREIT Global which the two are 0.0530 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is IREIT Global which worth?
The market values IREIT Global which at about 251M SGD (market capitalisation, as of Sep 24, 2026). Per share that is 0.1870 SGD; our models calculate a fair value of 0.2400 SGD per share.
What do the bullish and bearish scenarios say about UD1U?
Our models span a range for IREIT Global which: cautious scenario 0.0800 SGD, base 0.2400 SGD, optimistic 0.4000 SGD per share (as of Sep 24, 2026, price 0.1870 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of IREIT Global which (UD1U)?
Balance-sheet figures for IREIT Global which (as of Sep 24, 2026): return on equity −18.3%, debt of 0.76 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is UD1U from its 52-week high?
IREIT Global which trades at 0.1870 SGD, about 36% below its 52-week high of 0.2943 SGD and 15% above the low of 0.1630 SGD (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of 0.2400 SGD is for.
Which stocks are comparable to IREIT Global which?
From the same area (Real Estate) we also value BXP, Inc, Vornado Realty Trust, MERLIN Properties SOCIMI, S.A, Alexandria Real Estate Equities, Inc, 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 IREIT Global which stock attractive at the current price?
The data as of Sep 24, 2026: price 0.1870 SGD, calculated fair value 0.2400 SGD (+28%), Quality Score 31/100, from 5 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 UD1U calculated?
We run IREIT Global which through 5 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 0.2400 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 13.9 % above its aggregate fair value. IREIT Global which currently trades 28 % 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 IREIT Global which (UD1U)?
The closing price on Sep 25, 2026 was 0.1870 SGD. Our model-based fair value is 0.2400 SGD, about +28% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IREIT Global which right now?
The model range is unusually wide (0.0800 SGD to 0.4000 SGD). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 IREIT Global which

How large is the market capitalisation of IREIT Global which (UD1U)?
The market capitalisation of IREIT Global which is 251M SGD (≈ $197M). 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 IREIT Global which (UD1U)?
The price-to-sales ratio of IREIT Global which is 5.10 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of IREIT Global which (UD1U)?
Earnings per share at IREIT Global which are −0.0900 SGD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of IREIT Global which (UD1U)?
The dividend yield of IREIT Global which is 4.3%. 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 IREIT Global which (UD1U)?
The net margin of IREIT Global which is −125% (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 IREIT Global which (UD1U)?
The return on equity (ROE) of IREIT Global which is −18.3% (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 IREIT Global which (UD1U)?
On an EBIT basis the return on assets of IREIT Global which is 3.9% (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 IREIT Global which (UD1U)?
The operating margin of IREIT Global which is 54.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IREIT Global which (UD1U)?
Revenue at IREIT Global which is growing −2.3% versus a year earlier (3y avg −6.5%). 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 IREIT Global which (UD1U)?
Earnings per share at IREIT Global which are growing +256% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does IREIT Global which (UD1U) generate?
The free cash flow of IREIT Global which is −€3.7M (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 IREIT Global which (UD1U) carry?
The net debt of IREIT Global which is €368M (fiscal year 2025). 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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