Financials DBS Group Holdings Ltd

Equities

D05

SG1L01001701

Banks

Delayed Singapore Stock Exchange 12:51:03 2023-12-04 am EST Intraday chart for DBS Group Holdings Ltd 5-day change 1st Jan Change
31.87 SGD -0.09% +0.41% -6.04%

Valuation

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 60 448 66 101 63 879 83 882 87 297 82 275 - -
Enterprise Value (EV) 1 60 448 66 101 63 879 83 882 87 297 82 275 82 275 82 275
P/E ratio 11,0x 10,5x 13,8x 12,5x 10,8x 8,09x 8,23x 8,17x
Yield 5,07% 4,75% 3,47% 3,67% 4,42% 6,38% 6,84% 7,37%
Capitalization / Revenue 4,59x 4,54x 4,38x 5,87x 5,22x 4,10x 3,98x 3,89x
EV / Revenue 4,59x 4,54x 4,38x 5,87x 5,22x 4,10x 3,98x 3,89x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1,31x 1,35x 1,25x 1,52x 1,60x 1,36x 1,27x 1,22x
Nbr of stocks (in thousands) 2 551 616 2 554 122 2 551 066 2 568 342 2 573 629 2 579 142 - -
Reference price 2 23,7 25,9 25,0 32,7 33,9 31,9 31,9 31,9
Announcement Date 17/02/19 12/02/20 09/02/21 13/02/22 13/02/23 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Net sales 1 13 183 14 544 14 592 14 297 16 709 20 080 20 656 21 129
EBITDA - - - - - - - -
EBIT 1 7 385 8 286 8 434 7 828 9 412 11 966 12 027 12 499
Operating Margin 56,0% 57,0% 57,8% 54,8% 56,3% 59,6% 58,2% 59,2%
Earnings before Tax (EBT) 1 6 659 7 583 5 368 7 776 9 382 11 749 11 650 11 769
Net income 1 5 577 6 391 4 721 6 805 8 193 10 191 10 065 10 210
Net margin 42,3% 43,9% 32,4% 47,6% 49,0% 50,8% 48,7% 48,3%
EPS 2 2,15 2,46 1,81 2,61 3,15 3,94 3,88 3,90
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1,20 1,23 0,87 1,20 1,50 2,03 2,18 2,35
Announcement Date 02/17/19 02/12/20 02/09/21 02/13/22 02/13/23 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period : December 2020 S2 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3
Net sales 1 6 840 3 854 3 589 3 561 3 293 3 747 3 792 4 544 4 626 4 936 5 045 5 192 4 981 5 216 5 220 5 261
EBITDA - - - - - - - - - - - - - - - -
EBIT 1 3 721 2 267 2 046 1 893 1 622 2 103 2 134 2 719 2 456 3 054 3 114 3 154 - - - -
Operating Margin 54,4% 58,8% 57,0% 53,2% 49,3% 56,1% 56,3% 59,8% 53,1% 61,9% 61,7% 60,7% - - - -
Earnings before Tax (EBT) 1 - 2 257 1 967 1 963 1 589 2 048 2 088 2 541 2 705 2 956 3 084 3 001 2 792 2 970 3 007 3 005
Net income 1 - 2 009 1 703 1 700 1 393 1 801 1 815 2 236 2 341 2 571 2 629 2 593 2 414 2 568 2 600 2 598
Net margin - 52,1% 47,5% 47,7% 42,3% 48,1% 47,9% 49,2% 50,6% 52,1% 52,1% 49,9% 48,5% 49,2% 49,8% 49,4%
EPS 2 - 0,79 0,67 0,65 0,53 0,70 0,70 1,15 0,59 1,01 1,01 1,00 0,95 1,02 1,00 0,98
Dividend per Share 2 - 0,18 0,33 0,33 0,36 0,36 0,36 0,36 0,42 0,42 0,48 0,48 0,54 0,54 0,54 0,54
Announcement Date 09.02.21 29.04.21 04.08.21 05.11.21 13.02.22 28.04.22 03.08.22 02.11.22 13.02.23 01.05.23 02.08.23 05.11.23 - - - -
1SGD in Million2SGD
Estimates

Balance Sheet Analysis

Fiscal Period : December 2018 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 12,1% 13,2% 9,10% 12,5% 15,0% 17,6% 16,3% 15,6%
Shareholders' equity 1 46 091 48 417 51 879 54 440 54 620 57 861 61 890 65 429
ROA (Net income/ Total Assets) 1,05% 1,13% 0,75% 1,02% 1,12% 1,35% 1,26% 1,24%
Assets 1 531 143 565 575 629 467 667 157 731 518 755 233 796 771 821 238
Book Value Per Share 2 18,1 19,2 20,1 21,5 21,2 23,5 25,2 26,3
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 17.02.19 12.02.20 09.02.21 13.02.22 13.02.23 - - -
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 :
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
31.90SGD
Average target price
37.44SGD
Spread / Average Target
+17.35%
Consensus
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