Financials Great Eastern Holdings Limited

Equities

G07

SG1I55882803

Life & Health Insurance

Market Closed - Singapore S.E. 05:04:34 2024-04-26 am EDT 5-day change 1st Jan Change
18.69 SGD +0.38% Intraday chart for Great Eastern Holdings Limited +2.47% +6.19%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 11,729 10,295 9,466 9,537 8,756 8,330
Enterprise Value (EV) 1 6,428 4,578 313.4 517.5 -697.8 2,064
P/E ratio 15.9 x 10.3 x 9.85 x 8.57 x 11.2 x 10.8 x
Yield 2.42% 2.76% 3% 3.23% 3.51% 4.26%
Capitalization / Revenue 0.97 x 0.55 x 0.44 x 0.48 x 0.69 x 1.2 x
EV / Revenue 0.53 x 0.25 x 0.01 x 0.03 x -0.06 x 0.3 x
EV / EBITDA 6.81 x 3.42 x 0.38 x 0.2 x -0.85 x 1.87 x
EV / FCF 2.25 x -0.94 x -0.09 x -0.2 x -0.1 x 4.56 x
FCF Yield 44.4% -106% -1,079% -499% -1,045% 21.9%
Price to Book 1.58 x 1.2 x 1.01 x 0.95 x 0.93 x 1.06 x
Nbr of stocks (in thousands) 473,319 473,319 473,319 473,319 473,319 473,319
Reference price 2 24.78 21.75 20.00 20.15 18.50 17.60
Announcement Date 3/26/19 3/22/20 3/23/21 3/27/22 3/30/23 3/15/24
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 12,096 18,675 21,469 19,928 12,673 6,919
EBITDA 1 944.4 1,339 818.8 2,643 817.9 1,102
EBIT 1 887.7 1,276 752.9 2,612 785.3 1,070
Operating Margin 7.34% 6.83% 3.51% 13.11% 6.2% 15.47%
Earnings before Tax (EBT) 1 908.1 1,194 738.7 2,648 707.3 1,070
Net income 1 740.7 1,004 960.6 1,113 784.2 774.6
Net margin 6.12% 5.38% 4.47% 5.59% 6.19% 11.19%
EPS 2 1.560 2.120 2.030 2.350 1.657 1.637
Free Cash Flow 1 2,853 -4,857 -3,380 -2,583 7,292 452.4
FCF margin 23.59% -26.01% -15.74% -12.96% 57.54% 6.54%
FCF Conversion (EBITDA) 302.13% - - - 891.53% 41.06%
FCF Conversion (Net income) 385.21% - - - 929.84% 58.4%
Dividend per Share 2 0.6000 0.6000 0.6000 0.6500 0.6500 0.7500
Announcement Date 3/26/19 3/22/20 3/23/21 3/27/22 3/30/23 3/15/24
1SGD in Million2SGD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 - - - - - -
Net Cash position 1 5,301 5,717 9,153 9,020 9,454 6,266
Leverage (Debt/EBITDA) - - - - - -
Free Cash Flow 1 2,853 -4,857 -3,380 -2,583 7,292 452
ROE (net income / shareholders' equity) 9.91% 12.6% 10.9% 11.6% 8% 10.3%
ROA (Net income/ Total Assets) 0.66% 0.88% 0.46% 1.5% 0.45% 0.63%
Assets 1 111,736 114,250 209,830 74,081 174,422 123,817
Book Value Per Share 2 15.70 18.20 19.80 21.20 19.90 16.70
Cash Flow per Share 2 12.00 13.10 20.40 19.20 20.30 13.30
Capex 1 57.8 81.9 99.1 40.3 13.4 34.3
Capex / Sales 0.48% 0.44% 0.46% 0.2% 0.11% 0.5%
Announcement Date 3/26/19 3/22/20 3/23/21 3/27/22 3/30/23 3/15/24
1SGD in Million2SGD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

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