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Lendlease Global Commercial REIT (SGX:JYEU) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Lendlease Global Commercial REIT Piotroski F-Score Related Terms
Lendlease Global Commercial REIT Piotroski F-Score Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Lendlease Global Commercial REIT Piotroski F-Score Chart
SGX:JYEU vs VICI, WPC, BNL: Piotroski F-Score Comparison
For the REIT - Diversified subindustry, Lendlease Global Commercial REIT's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Lendlease Global Commercial REIT Piotroski F-Score vs REITs Industry
For the REITs industry and Real Estate sector, Lendlease Global Commercial REIT's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Lendlease Global Commercial REIT's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Lendlease Global Commercial REIT's current Net Income (TTM) was 121.4.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Lendlease Global Commercial REIT's current Cash Flow from Operations (TTM) was 143.8.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Lendlease Global Commercial REIT's return on assets of this year was 0.03108589. Lendlease Global Commercial REIT's return on assets of last year was 0.01850925.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Lendlease Global Commercial REIT's gearing of this year was 0.35318714. Lendlease Global Commercial REIT's gearing of last year was 0.34334567.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Lendlease Global Commercial REIT's current ratio of this year was 0.26051256. Lendlease Global Commercial REIT's current ratio of last year was 0.12966348.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Lendlease Global Commercial REIT's number of shares in issue this year was 2869.031. Lendlease Global Commercial REIT's number of shares in issue last year was 2414.538.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Lendlease Global Commercial REIT's gross margin of this year was 0.61228516. Lendlease Global Commercial REIT's gross margin of last year was 0.61727397.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Lendlease Global Commercial REIT's asset turnover of this year was 0.05424646. Lendlease Global Commercial REIT's asset turnover of last year was 0.05393003.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
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+
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Lendlease Global Commercial REIT has an F-score of 6 indicating the company's financial situation is typical for a stable company.
Lendlease Global Commercial REIT (SGX:JYEU) has a Piotroski F-Score of 6 as of Aug. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Lendlease Global Commercial REIT and its competitors. This is 20% above median its historical median of 5.00. Over the past decade, Lendlease Global Commercial REIT's Piotroski F-Score has ranged from 4.00 to 6.00. According to the industry distribution chart, Lendlease Global Commercial REIT ranks #236 out of 870 companies in the REITs industry, placing it in the top 27.1%.
Is Lendlease Global Commercial REIT's Piotroski F-Score too high?
Lendlease Global Commercial REIT's current Piotroski F-Score of 6 is 20% above median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 6.00. The REITs industry median Piotroski F-Score is 6.00. Lendlease Global Commercial REIT's value of 6 is 0% at this industry median. Based on the distribution chart, Lendlease Global Commercial REIT ranks #236 out of 870 companies in the REITs industry, which is above the industry midpoint. Overall, Lendlease Global Commercial REIT has a GF Score™ of 61/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lendlease Global Commercial REIT's Piotroski F-Score compare to VICI and WPC?
According to the REITs industry distribution chart, Lendlease Global Commercial REIT ranks #236 out of 870 companies for Piotroski F-Score. This puts Lendlease Global Commercial REIT in the upper half of its industry. The industry median Piotroski F-Score is 6.00. Lendlease Global Commercial REIT's value of 6 is 0% at this benchmark. Historically, Lendlease Global Commercial REIT's own Piotroski F-Score has ranged from 4.00 to 6.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, Lendlease Global Commercial REIT has consistently been at the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a REITs company?
The median Piotroski F-Score among REITs companies is 6.00, based on 870 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Lendlease Global Commercial REIT's current Piotroski F-Score of 6 is 0% at the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Lendlease Global Commercial REIT and its competitors. For the REITs industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lendlease Global Commercial REIT's current Piotroski F-Score is 6, which is 20% above median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lendlease Global Commercial REIT stock overvalued right now?
Based on GuruFocus' analysis, Lendlease Global Commercial REIT (SGX:JYEU) is currently considered Modestly Overvalued. The stock's GF Value™ is S$0.47, compared to a current price of S$0.57 — trading 21.3% above its estimated fair value. The current Piotroski F-Score is 6, which is 20% above median its 10-year median of 5.00 and 0% at the REITs industry median of 6.00. Lendlease Global Commercial REIT's overall GF Score™ is 61/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Lendlease Global Commercial REIT (SGX:JYEU), the current Piotroski F-Score is 6 as of Aug. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Lendlease Global Commercial REIT (SGX:JYEU) Overvalued in 2026?
Based on GuruFocus' analysis, Lendlease Global Commercial REIT stock appears to be overvalued.
The current stock price of S$0.57 is trading 21.3% above its estimated GF Value™ of S$0.47.
GuruFocus considers Lendlease Global Commercial REIT to be Modestly Overvalued.
Key valuation signals for SGX:JYEU:
Piotroski F-Score: 6 (20% above median its 10-year median of 5.00)
GF Value™: S$0.47 vs. price of S$0.57 (21.3% above fair value)
Industry Position: 0% at the REITs median (#236 of 870)
No single metric tells the full story. See the SGX:JYEU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lendlease Global Commercial REIT is a Singapore real estate investment trust. It is established with the principal investment plans of investing, directly or indirectly, in a diversified portfolio of stabilised income-producing real estate assets located globally that are used for retail and office purposes as well as real estate-related assets in connection with the foregoing. The company's geographical segment includes Singapore segment which comprises of leasing of retail and office buildings in Singapore. and Italy segment which comprises of easing of Sky Complex, comprising three office buildings in Milan. It derives a majority of revenue from Singapore.
61GF Score
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