# Ascendas Real Estate Investment Trust (S3Z.F)

Canonical: https://gigainvestors.com/s/S3Z.F

Analysis as of: 2026-10-16T07:33:27.756Z. 

Listing currency: EUR. Reporting currency: SGD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: EUR 1.50 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

## Price story

Down 28% since Jul 2022

Story as of 2026-10-16T10:01:27.386Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Annual sales are SGD 1.5 billion.

- Source: https://eodhd.com/api/fundamentals/S3Z.F.json#2025-12-31 (filed 2026-10-16T07:33:27.756Z); FY2025: revenue 1538574000; grossProfit 1067560000; margin = grossProfit / revenue.

### Why customers stay

Margins ranged from 68.9% to 69.4% during 2023–25.

- Source: https://eodhd.com/api/fundamentals/S3Z.F.json#2023-12-31 (filed 2026-10-16T07:33:27.756Z); FY2023: grossProfit / revenue = 69.1%.

- Source: https://eodhd.com/api/fundamentals/S3Z.F.json#2024-12-31 (filed 2026-10-16T07:33:27.756Z); FY2024: grossProfit / revenue = 68.9%.

- Source: https://eodhd.com/api/fundamentals/S3Z.F.json#2025-12-31 (filed 2026-10-16T07:33:27.756Z); FY2025: grossProfit / revenue = 69.4%.

### Where the cash goes

Paid dividends in 6 of 6 years.

- Source: https://eodhd.com/api/fundamentals/S3Z.F.json#2020-12-31 (filed 2026-10-16T07:33:27.756Z); FY2020: growth capex 0; upkeep 0; owner earnings 607488800. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/S3Z.F.json#2021-12-31 (filed 2026-10-16T07:33:27.756Z); FY2021: growth capex 0; upkeep 0; owner earnings 605831800. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/S3Z.F.json#2022-12-31 (filed 2026-10-16T07:33:27.756Z); FY2022: growth capex 0; upkeep 0; cash acquisitions 35618000; owner earnings 888463600. Growth capex plus acquisitions / owner earnings = 0.040089430788160595.

- Source: https://eodhd.com/api/fundamentals/S3Z.F.json#2023-12-31 (filed 2026-10-16T07:33:27.756Z); FY2023: growth capex 0; upkeep 0; cash acquisitions 40800000; owner earnings 827017600. Growth capex plus acquisitions / owner earnings = 0.04933389567525528.

- Source: https://eodhd.com/api/fundamentals/S3Z.F.json#2024-12-31 (filed 2026-10-16T07:33:27.756Z); FY2024: growth capex 0; upkeep 0; cash acquisitions 7173000; owner earnings 821859800. Growth capex plus acquisitions / owner earnings = 0.008727765976630077.

- Source: https://eodhd.com/api/fundamentals/S3Z.F.json#2025-12-31 (filed 2026-10-16T07:33:27.756Z); FY2025: growth capex 0; upkeep 0; cash acquisitions 0; owner earnings 947914800. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:33:27.756Z); Dividend observations: [[2020,597883000],[2021,378461000],[2022,649698000],[2023,660616000],[2024,657757000],[2025,669086000]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 0% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); S3Z.F SharesStats.PercentInsiders = 0 percentage points; cache date 2026-10-16.

### What the price says

The price is 6.3 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:33:27.756Z); Closing price 1.4954 EUR; reporting-to-trading FX 0.6958119292237442; FY2025 annual sales per share 0.34045642643939095; price multiple 6.312537481841906. FY2025 cash earnings/share 0.20975506239999506. Closing-price date 2026-10-15.

## Monthly share-price history (EUR per share)

- 2016-10: EUR 1.52 per share

- 2016-11: EUR 1.53 per share

- 2016-12: EUR 1.48 per share

- 2017-01: EUR 1.59 per share

- 2017-02: EUR 1.65 per share

- 2017-03: EUR 1.66 per share

- 2017-04: EUR 1.68 per share

- 2017-05: EUR 1.65 per share

- 2017-06: EUR 1.64 per share

- 2017-07: EUR 1.66 per share

- 2017-08: EUR 1.62 per share

- 2017-09: EUR 1.68 per share

- 2017-10: EUR 1.72 per share

- 2017-11: EUR 1.64 per share

- 2017-12: EUR 1.65 per share

- 2018-01: EUR 1.71 per share

- 2018-02: EUR 1.60 per share

- 2018-03: EUR 1.61 per share

- 2018-04: EUR 1.68 per share

- 2018-05: EUR 1.72 per share

- 2018-06: EUR 1.68 per share

- 2018-07: EUR 1.70 per share

- 2018-08: EUR 1.66 per share

- 2018-09: EUR 1.63 per share

- 2018-10: EUR 1.58 per share

- 2018-11: EUR 1.63 per share

- 2018-12: EUR 1.61 per share

- 2019-01: EUR 1.75 per share

- 2019-02: EUR 1.81 per share

- 2019-03: EUR 1.90 per share

- 2019-04: EUR 1.98 per share

- 2019-05: EUR 1.88 per share

- 2019-06: EUR 2.04 per share

- 2019-07: EUR 1.97 per share

- 2019-08: EUR 1.98 per share

- 2019-09: EUR 2.06 per share

- 2019-10: EUR 2.07 per share

- 2019-11: EUR 1.96 per share

- 2019-12: EUR 1.97 per share

- 2020-01: EUR 2.10 per share

- 2020-02: EUR 1.93 per share

- 2020-03: EUR 1.82 per share

- 2020-04: EUR 1.89 per share

- 2020-05: EUR 1.95 per share

- 2020-06: EUR 2.00 per share

- 2020-07: EUR 2.09 per share

- 2020-08: EUR 2.02 per share

- 2020-09: EUR 1.98 per share

- 2020-10: EUR 1.79 per share

- 2020-11: EUR 1.84 per share

- 2020-12: EUR 1.83 per share

- 2021-01: EUR 1.90 per share

- 2021-02: EUR 1.81 per share

- 2021-03: EUR 1.91 per share

- 2021-04: EUR 1.91 per share

- 2021-05: EUR 1.80 per share

- 2021-06: EUR 1.81 per share

- 2021-07: EUR 1.98 per share

- 2021-08: EUR 1.94 per share

- 2021-09: EUR 1.88 per share

- 2021-10: EUR 1.96 per share

- 2021-11: EUR 1.89 per share

- 2021-12: EUR 1.93 per share

- 2022-01: EUR 1.79 per share

- 2022-02: EUR 1.81 per share

- 2022-03: EUR 1.93 per share

- 2022-04: EUR 1.95 per share

- 2022-05: EUR 1.87 per share

- 2022-06: EUR 1.92 per share

- 2022-07: EUR 2.07 per share

- 2022-08: EUR 2.05 per share

- 2022-09: EUR 1.92 per share

- 2022-10: EUR 1.83 per share

- 2022-11: EUR 1.93 per share

- 2022-12: EUR 1.88 per share

- 2023-01: EUR 2.00 per share

- 2023-02: EUR 1.94 per share

- 2023-03: EUR 1.91 per share

- 2023-04: EUR 1.93 per share

- 2023-05: EUR 1.82 per share

- 2023-06: EUR 1.80 per share

- 2023-07: EUR 1.88 per share

- 2023-08: EUR 1.77 per share

- 2023-09: EUR 1.74 per share

- 2023-10: EUR 1.67 per share

- 2023-11: EUR 1.86 per share

- 2023-12: EUR 1.98 per share

- 2024-01: EUR 1.92 per share

- 2024-02: EUR 1.83 per share

- 2024-03: EUR 1.82 per share

- 2024-04: EUR 1.72 per share

- 2024-05: EUR 1.72 per share

- 2024-06: EUR 1.70 per share

- 2024-07: EUR 1.79 per share

- 2024-08: EUR 1.92 per share

- 2024-09: EUR 1.92 per share

- 2024-10: EUR 1.82 per share

- 2024-11: EUR 1.79 per share

- 2024-12: EUR 1.74 per share

- 2025-01: EUR 1.78 per share

- 2025-02: EUR 1.76 per share

- 2025-03: EUR 1.82 per share

- 2025-04: EUR 1.75 per share

- 2025-05: EUR 1.77 per share

- 2025-06: EUR 1.79 per share

- 2025-07: EUR 1.87 per share

- 2025-08: EUR 1.79 per share

- 2025-09: EUR 1.82 per share

- 2025-10: EUR 1.89 per share

- 2025-11: EUR 1.80 per share

- 2025-12: EUR 1.80 per share

- 2026-01: EUR 1.91 per share

- 2026-02: EUR 1.77 per share

- 2026-03: EUR 1.67 per share

- 2026-04: EUR 1.70 per share

- 2026-05: EUR 1.68 per share

- 2026-06: EUR 1.67 per share

- 2026-07: EUR 1.73 per share

- 2026-08: EUR 1.63 per share

- 2026-09: EUR 1.53 per share

- 2026-10: EUR 1.49 per share

## Annual estimated value (EUR per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.