City Developments Limited (CDL) is a leading global real estate company with a network spanning 167 locations across 28 countries and regions.
FAIL · Does not pass the screen
6.67 USD
At the last full screen 2026-09-10
Screened 2026-09-10 · the tape above runs as of 11:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markup label.
City Developments Limited holds its Markup at $6.67. Consolidating, no directional conviction, held for 21 days.
As held on the ledger · 2026-09-10
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 21 days
Price at the screen
$6.67
Valuation
9.26 trailing · 16.27 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.44
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
249.31%
Below 33%
Interest-bearing debt is 249.3% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
37.53%
Below 33%
Interest-bearing cash and securities are 37.5% of assets, above the one-third limit.
Fail
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads AVOID: it trades above our $5.38 fair value estimate, weak competitive moat, 61.10% revenue growth.
Fair value range in USD, drawn from the 2026-09-10 screen. The gold marker is the market price at the same screen. The price runs 19.4% above the base estimate.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-10 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Property Developer's Debt Load Sinks the Case
Picture a Singapore-based developer with projects scattered across 28 countries yet still leaning hard on borrowed money to keep the machine turning. City Developments fails our ethical screen on its debt ratio, and the rest of the ledger offers little comfort. A weak moat, 6% return on equity and a forward multiple of 14 times leave almost no cushion when the fair value sits 8% below the current price.
We pass for two clear reasons that have nothing to do with short-term rental trends. First, the balance sheet carries too much leverage for an ethical screen that already flags the firm. Second, modest 11% revenue growth and an 18% profit margin fail to generate attractive returns on capital once the debt burden is taken into account.
The main risk is that property cycles can hide leverage problems until interest rates or vacancy rates turn. When that happens, the thin equity returns leave little room to absorb the shock. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Singapore and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
CDEVY trades on PNK (the company is based in Singapore). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-24Markup · changed$5.65-2.1%Entry 5
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 2.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 32%.
2026-07-24Markdown$5.77-12.2%Entry 4
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 12.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 32%.
2026-07-18Markdown$6.57+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 73%. Our forward projection puts the odds of a 10% gain over the next month near 32%.
2026-07-03Markdown$6.57+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markdown$6.57Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
