Financials Food Empire Holdings Limited

Equities

F03

SG1I44882534

Food Processing

Delayed Singapore S.E. 04:43:09 26/06/2024 BST 5-day change 1st Jan Change
1.03 SGD 0.00% Intraday chart for Food Empire Holdings Limited +1.98% -8.85%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 349.4 354.1 413.6 338.9 594.4 542.4 - -
Enterprise Value (EV) 1 349.4 354.1 413.6 221.2 467 439.8 432.8 422.6
P/E ratio 9.61 x 10 x 15.7 x 4.18 x 7.94 x 7.91 x 7.12 x 6.65 x
Yield 1.54% 3.33% 2.1% 6.93% 4.42% 7.85% 7.02% 7.33%
Capitalization / Revenue 0.87 x 0.98 x 0.95 x 0.63 x 1.04 x 0.87 x 0.82 x 0.77 x
EV / Revenue 0.87 x 0.98 x 0.95 x 0.41 x 0.82 x 0.71 x 0.65 x 0.6 x
EV / EBITDA 6.88 x 6.72 x 8.96 x 2.67 x 4.38 x 4.33 x 3.85 x 3.53 x
EV / FCF - - - 2.78 x 9.13 x 7.21 x 7.03 x 6.22 x
FCF Yield - - - 36% 10.9% 13.9% 14.2% 16.1%
Price to Book 1.2 x 1.23 x 1.34 x 0.91 x 1.5 x 1.27 x 1.13 x 1.02 x
Nbr of stocks (in thousands) 537,482 536,580 537,199 533,776 526,054 526,575 - -
Reference price 2 0.6500 0.6600 0.7700 0.6350 1.130 1.030 1.030 1.030
Announcement Date 24/02/20 24/02/21 24/02/22 27/02/23 27/02/24 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 403.1 360.2 435.4 537.2 571.9 620.3 662.5 708.7
EBITDA 1 50.82 52.72 46.18 82.72 106.5 101.6 112.5 119.6
EBIT 1 42.46 44.69 34.53 71.09 95.28 87.41 96.74 103.9
Operating Margin 10.53% 12.41% 7.93% 13.23% 16.66% 14.09% 14.6% 14.66%
Earnings before Tax (EBT) 1 44.05 42.54 35.73 95.35 97.39 88.04 97.74 105.2
Net income 1 36.48 35.34 26.48 81.04 75.91 70.23 77.72 83.78
Net margin 9.05% 9.81% 6.08% 15.09% 13.27% 11.32% 11.73% 11.82%
EPS 2 0.0676 0.0657 0.0489 0.1518 0.1422 0.1303 0.1446 0.1550
Free Cash Flow 1 - - - 79.56 51.13 61.01 61.56 67.94
FCF margin - - - 14.81% 8.94% 9.84% 9.29% 9.59%
FCF Conversion (EBITDA) - - - 96.18% 48% 60.08% 54.71% 56.81%
FCF Conversion (Net income) - - - 98.17% 67.36% 86.88% 79.21% 81.09%
Dividend per Share 2 0.0100 0.0220 0.0162 0.0440 0.0500 0.0809 0.0723 0.0756
Announcement Date 24/02/20 24/02/21 24/02/22 27/02/23 27/02/24 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period:
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 - - - 118 127 103 110 120
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - 79.6 51.1 61 61.6 67.9
ROE (net income / shareholders' equity) 13.6% 12.6% 8.75% 23.8% 19.7% 17% 17.4% 17%
ROA (Net income/ Total Assets) 9.46% 8.64% 5.98% 16.7% 14.4% 12.2% 12.7% 12.8%
Assets 1 385.8 409.1 443.2 486.5 526.8 578 612 654.5
Book Value Per Share 2 0.5400 0.5400 0.5800 0.7000 0.7500 0.8100 0.9100 1.010
Cash Flow per Share - - - - - - - -
Capex 1 53.3 12.9 8.9 18.6 16.8 16 16.6 17.1
Capex / Sales 13.22% 3.59% 2.04% 3.46% 2.94% 2.58% 2.5% 2.42%
Announcement Date 24/02/20 24/02/21 24/02/22 27/02/23 27/02/24 - - -
1SGD in Million2SGD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
5
Last Close Price
1.03 SGD
Average target price
1.486 SGD
Spread / Average Target
+44.27%
Consensus

Annual profits - Rate of surprise

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