NTT UD REIT Investment Ratios and Metrics

Market cap in millions JPY. Fiscal year is November - October.

Millions JPY. Fiscal year is Nov - Oct.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Mar '26 Mar 9, 2026	Oct '25 Oct 31, 2025	Oct '24 Oct 31, 2024	Oct '23 Oct 31, 2023	Oct '22 Oct 31, 2022	Oct '21 Oct 31, 2021	2020 - 2016
Market Capitalization	211,426	200,267	161,838	174,784	204,078	199,393	Upgrade
Market Cap Growth	8.25%	23.75%	-7.41%	-14.35%	2.35%	32.00%	Upgrade
Enterprise Value	344,901	342,073	305,809	295,174	322,712	322,197	Upgrade
Last Close Price	144000.00	136400.00	104251.27	113227.01	125758.92	124945.32	Upgrade
PE Ratio	25.10	23.73	18.87	17.40	21.28	20.41	Upgrade
PS Ratio	7.97	7.55	6.81	7.13	8.79	8.98	Upgrade
PB Ratio	1.44	1.37	1.09	1.25	1.48	1.59	Upgrade
P/OCF Ratio	8.15	7.72	13.24	8.41	7.83	10.04	Upgrade
EV/Sales Ratio	13.00	12.89	12.86	12.03	13.91	14.51	Upgrade
EV/EBITDA Ratio	23.09	22.90	23.18	20.94	23.57	23.54	Upgrade
EV/EBIT Ratio	29.99	29.74	31.24	26.96	30.71	30.27	Upgrade
Debt / Equity Ratio	1.00	1.00	1.00	0.88	0.92	1.01	Upgrade
Debt / EBITDA Ratio	9.86	9.86	11.29	8.66	9.20	9.24	Upgrade
Net Debt / Equity Ratio	0.91	0.91	0.96	0.83	0.87	0.95	Upgrade
Net Debt / EBITDA Ratio	8.94	8.94	10.84	8.20	8.70	8.73	Upgrade
Asset Turnover	0.09	0.09	0.08	0.09	0.09	0.09	Upgrade
Quick Ratio	0.50	0.50	0.31	0.36	0.27	0.28	Upgrade
Current Ratio	0.94	0.94	0.94	1.00	0.75	0.79	Upgrade
Return on Equity (ROE)	5.72%	5.72%	5.96%	7.26%	7.29%	7.80%	Upgrade
Return on Assets (ROA)	2.32%	2.32%	2.09%	2.48%	2.41%	2.58%	Upgrade
Return on Invested Capital (ROIC)	3.91%	3.89%	3.50%	4.17%	4.07%	4.35%	Upgrade
Earnings Yield	3.99%	4.21%	5.30%	5.75%	4.70%	4.90%	Upgrade
Dividend Yield	4.33%	4.58%	5.55%	-	5.44%	5.73%	Upgrade
Payout Ratio	105.58%	105.58%	102.13%	83.70%	102.22%	-	Upgrade
Buyback Yield / Dilution	0.71%	0.71%	-5.72%	-0.02%	-6.40%	-	Upgrade
Total Shareholder Return	5.05%	5.29%	-0.17%	-0.02%	-0.96%	5.73%	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.