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Singapore industrial REIT owning data centers, hi-tech buildings and business park properties in Singapore and the US.
Singapore industrial REIT owning data centers, hi-tech buildings and business park properties in Singapore and the US.
Collects rent under multi-year leases, with data centres in the US and Singapore leased to cloud and technology users alongside hi-tech and business-park space in Singapore. As a REIT it passes most income to unit holders, and the sponsor is the Mapletree group, owned by Singapore's Temasek.
In one line: A Singapore industrial and data-center REIT.
Moat: narrow (installed base, scale). Diversified industrial/data-center portfolio with high switching costs for data center tenants.
Headquarters: Singapore · Founded: 2010 · Employees: 186
Size Mapletree Industrial Trust (ME8U.SI) is a Singapore Real Estate company (Real Estate Investment Trusts) with a market value of $3.89B, the 29th largest of 186 Singapore companies the cockpit tracks. Shares closed at S$1.74 on 6 Nov 2026.
Performance Over six months the shares fell 10.3%, against -2.3% for the median peer and -1.2% for the Singapore market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 5.2% over the last twelve months (peer median +4.1%); the operating margin is 65.0% (peer median 44.2%).
Valuation It trades at 1.07× book value against a peer median of 0.95× (7th most expensive of 21).
Price implies The share price implies a return on equity of about 5.0%; Mapletree Industrial Trust delivers 4.1%, so the price asks more than the business earns today.
Next results Next results expected around 26 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$663M | S$679M | S$713M | S$704M | S$705M |
| Revenue growth | — | -5% | +1% | 0% | — |
| Gross profit | S$436M | S$447M | S$471M | S$463M | S$472M |
| EBITDA | S$431M | S$445M | S$463M | S$527M | S$469M |
| Net income | S$192M | S$211M | S$336M | S$111M | S$282M |
| Free cash flow | S$370M | S$367M | S$412M | S$351M | S$384M |
| Capital expenditure | S$5,000 | S$192,000 | S$0 | S$0 | S$0 |
| Total debt | S$2.97B | S$2.95B | S$3.57B | S$3.38B | S$3.18B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Mapletree Industrial Trust ME8U.SI | $3.89B | -10% | -5% | 4% | 1.07× | 5.0% |
| Keppel DC REIT AJBU.SI | $4.67B | -6% | +30% | 11% | 1.26× | 6.8% |
| Digital Realty DLR | $65.9B | -10% | +21% | 4% | 2.39× | 19.2% |
| CapitaLand Ascendas REIT A17U.SI | $8.83B | -9% | +7% | 7% | 0.99× | 5.2% |
| Digital Core REIT DCRU.SI | $588M | -11% | +19% | 4% | 0.57× | 5.0% |
| Equinix EQIX | $100B | -5% | +11% | 26% | 7.03× | n/a |
| Frasers Logistics & Commercial Trust BUOU.SI | $2.76B | -6% | 0% | 5% | 0.82× | 4.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ME8U.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.0% | +3.9% | 2nd lowest of 21 |
| 6-month return | -10.3% | -2.3% | 4th lowest of 21 |
| Return on equity | 4.1% | 6.2% | 6th lowest of 21 |
| Price / book | 1.07× | 0.95× | 7th most expensive of 21 |
| Trailing P/E | 25.9× | 16.1× | 4th most expensive of 19 |
| ROE the price implies | 5.0% | 8.1% | 4th least demanding of 21 |
| ROE delivered | 4.1% | 6.2% | 6th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Mapletree Industrial Trust ME8U.SI | Singapore | $3.89B | -10% | -5% | 4% | 1.07× | 5.0% | 4.1% |
| SL Green Realty SLG | United States | $3.88B | +11% | +9% | -3% | 1.12× | 14.6% | -3.1% |
| Shaftesbury Capital SHC.L | United Kingdom | $3.91B | +16% | +9% | 10% | 0.71× | 10.2% | 9.7% |
| Granite Real Estate Investment Trust GRT-UN.TO | Canada | $3.85B | -6% | +9% | 7% | 0.93× | 10.4% | 6.5% |
| Glp J-reit 3281.T | Japan | $4.00B | -2% | -6% | 7% | 1.43× | 5.4% | 6.8% |
| Nomura Real Estate Master Fund 3462.T | Japan | $3.66B | -23% | -18% | 5% | 0.96× | 4.5% | 4.8% |
| Independence Realty Trust IRT | United States | $3.63B | -9% | +3% | 2% | 1.06× | 9.8% | 1.8% |
| Covivio Hotels SCA COVH.PA | France | $3.61B | -9% | +5% | 9% | 0.89× | 7.2% | 9.5% |
| Kilroy Realty KRC | United States | $4.21B | +3% | -4% | 1% | 0.80× | 9.3% | 0.5% |
| Colonial SFL SOCIMI COL.MC | Spain | $3.58B | -2% | +4% | 6% | 0.55× | 7.6% | 5.6% |
| Curbline Properties CURB | United States | $3.57B | +5% | +51% | 1% | 1.57× | 10.6% | 1.3% |
| First Capital Real Estate Investment Trust FCR-UN.TO | Canada | $3.55B | 0% | +3% | 24% | 1.01× | 8.1% | 24.2% |
| National Health Investors NHI | United States | $3.50B | -5% | +24% | 11% | 2.23× | 13.0% | 10.9% |
| Highwoods Properties HIW | United States | $3.47B | +24% | +6% | 8% | 1.48× | 13.8% | 7.9% |
| KDX Realty Investment 8972.T | Japan | $3.47B | -16% | +3% | 5% | 0.87× | 4.9% | 5.4% |
| Nippon Prologis REIT 3283.T | Japan | $4.37B | -8% | +9% | 6% | 1.39× | 6.6% | 6.0% |
| Canadian Apartment Properties Real Estate Investment Trust CAR-UN.TO | Canada | $3.45B | -14% | -7% | -2% | 0.58× | 6.0% | -1.5% |
| RioCan Real Estate Investment Trust REI-UN.TO | Canada | $4.41B | -3% | -13% | 7% | 0.86× | 7.7% | 6.9% |
| Frasers Centrepoint Trust J69U.SI | Singapore | $3.43B | -5% | +16% | 8% | 0.92× | 3.4% | 7.9% |
| Dexus DXS.AX | Australia | $4.44B | 0% | -28% | 5% | 0.65× | 8.0% | 4.9% |
| Primary Health Properties PHP.L | United Kingdom | $3.41B | +6% | +104% | 8% | 0.99× | 10.9% | 8.0% |