In short
Mapletree Pan Asia Commercial Trust (N2IU.SI) has revenue down 4.4% to SGD 807.7M and net income down 55.3% to SGD 261.3M year on year. Its net margin is 32.3% and gross margin 67.9%, and it trades at 24.0× trailing earnings. Fisclear flags 2 high-severity risks, led by: Revenue has declined for two consecutive years — a sustained downtrend that may signal structural or competitive headwinds. How we calculate this
Valuation
Real EstateLive · Yahoo FinancePrice
S$1.19
S$6.3B
19.6x
6.66%
52-Week Range
4-engine score — Quality and Peers engines require SEC EDGAR (US stocks only)
Operating margin 74.8% — high profitability.
FCF yield 9.3% — 4.3pp above risk-free.
FCF yield 9.3% — strong cash generation.
⚠ Revenue declining 4% YoY.
Based on filing period ending Mar 2026
International FisclearScore uses 4 engines (no EDGAR data). Based on Yahoo Finance & Alpha Vantage reported financials. Not financial advice.
🇸🇬 Singapore Macro Indicators
Full dashboard →CPI Inflation
0.90%→
Near target
Unemployment
2.82%↓
Tight labour market
GDP Growth
5.03%↑
Strong
USD/SGD
1.28→
CPI inflation is 0.9% year-over-year (inflation near target); unemployment stands at 2.8% (tight labour market); GDP growth is 5.0% year-over-year (strong growth); USD/SGD is at 1.2787.
SWOT Analysis — N2IU.SI
Inflationary BoomStrengths
No standout strengths identified from the filing.
Weaknesses
EPS (Diluted): SGD 0.05 (-55.4% YoY) — Earnings per share fell 55%.
Net Income: SGD 261.3M (-55.3% YoY) — Profit fell 55% but remained positive.
Operating Cash Flow: SGD 586.0M (-7.6% YoY) — Operating cash flow fell 8% but remained positive.
Revenue: SGD 807.7M (-4.4% YoY) — Revenue fell 4% — the company generated less from its core operations.
Total Assets: SGD 15.4B (-4.4% YoY) — Total assets shrank 4% — the balance sheet contracted.
Price-to-book ratio of 0.69x — stock trades below book value, which may indicate market concerns about asset quality or profitability.
Opportunities
No clear opportunities identified at this time.
Threats
Revenue has declined for two consecutive years — a sustained downtrend that may signal structural or competitive headwinds.
Current ratio of 0.39x — short-term liabilities exceed current assets, which could create near-term liquidity pressure.
Net income dropped 55% year-over-year — a significant compression in profitability.
Stock is within 10% of its 52-week low (1.18) — the market may be pricing in significant risk or sector weakness.
Financial Charts
Year-over-Year Changes
EPS (Diluted)
SGD 0.05
was SGD 0.11
Earnings per share fell 55%.
Net Income
SGD 261.3M
was SGD 584.2M
Profit fell 55% but remained positive.
Operating Cash Flow
SGD 586.0M
was SGD 634.0M
Operating cash flow fell 8% but remained positive.
Revenue
SGD 807.7M
was SGD 844.7M
Revenue fell 4% — the company generated less from its core operations.
Total Assets
SGD 15.4B
was SGD 16.1B
Total assets shrank 4% — the balance sheet contracted.
Risk Flags
2 high · 2 medium · 1 low- ⚠ High
Revenue has declined for two consecutive years — a sustained downtrend that may signal structural or competitive headwinds.
- ⚠ High
Current ratio of 0.39x — short-term liabilities exceed current assets, which could create near-term liquidity pressure.
- ◈ Medium
Net income dropped 55% year-over-year — a significant compression in profitability.
- ◈ Medium
Stock is within 10% of its 52-week low (1.18) — the market may be pricing in significant risk or sector weakness.
- ○ Low
Price-to-book ratio of 0.69x — stock trades below book value, which may indicate market concerns about asset quality or profitability.
Price HistorySGD
Technical Signals
Daily closes · 1-year dataLatest News
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External Links
Research Mapletree Pan Asia Commercial Trust
Data sourced from SGX, FRED (Federal Reserve), OECD, BIS, and Yahoo Finance. For informational purposes only. Not financial advice.