Financials Ho Bee Land Limited

Equities

H13

SG1H41875896

Real Estate Development & Operations

Market Closed - Singapore S.E. 04:58:44 2024-04-26 am EDT 5-day change 1st Jan Change
1.93 SGD 0.00% Intraday chart for Ho Bee Land Limited 0.00% +9.04%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 1,577 1,603 1,587 1,853 1,614 1,175
Enterprise Value (EV) 1 3,875 3,851 3,931 4,290 4,681 4,077
P/E ratio 5.84 x 4.82 x 11.6 x 5.61 x 9.73 x -4.52 x
Yield 3.38% 3.32% 3.35% 3.58% 3.29% 1.69%
Capitalization / Revenue 7.7 x 7.26 x 7.27 x 4.78 x 3.4 x 2.36 x
EV / Revenue 18.9 x 17.4 x 18 x 11.1 x 9.86 x 8.19 x
EV / EBITDA 26.3 x 22.2 x 22.4 x 18.2 x 15.3 x 13.2 x
EV / FCF 38.5 x 60.6 x 105 x -8,658 x -46.3 x 17.1 x
FCF Yield 2.6% 1.65% 0.96% -0.01% -2.16% 5.86%
Price to Book 0.48 x 0.45 x 0.44 x 0.47 x 0.41 x 0.33 x
Nbr of stocks (in thousands) 665,231 665,231 664,016 664,016 664,016 664,016
Reference price 2 2.370 2.410 2.390 2.790 2.430 1.770
Announcement Date 3/31/19 4/14/20 3/31/21 3/24/22 3/28/23 3/27/24
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 204.7 220.8 218.4 387.7 474.8 497.6
EBITDA 1 147.1 173.4 175.3 235.4 305.2 309.9
EBIT 1 146.4 172.8 174.6 234.4 304.4 309
Operating Margin 71.5% 78.23% 79.95% 60.46% 64.11% 62.1%
Earnings before Tax (EBT) 1 320.2 365 170.7 357.6 177.9 -218.6
Net income 1 270 332.3 137.1 330.5 165.9 -259.8
Net margin 131.92% 150.48% 62.77% 85.24% 34.94% -52.22%
EPS 2 0.4058 0.4995 0.2062 0.4977 0.2498 -0.3913
Free Cash Flow 1 100.6 63.59 37.56 -0.4955 -101 239
FCF margin 49.14% 28.8% 17.2% -0.13% -21.28% 48.03%
FCF Conversion (EBITDA) 68.4% 36.67% 21.42% - - 77.11%
FCF Conversion (Net income) 37.25% 19.14% 27.4% - - -
Dividend per Share 2 0.0800 0.0800 0.0800 0.1000 0.0800 0.0300
Announcement Date 3/31/19 4/14/20 3/31/21 3/24/22 3/28/23 3/27/24
1SGD in Million2SGD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 2,299 2,247 2,344 2,437 3,068 2,902
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 15.63 x 12.96 x 13.37 x 10.36 x 10.05 x 9.364 x
Free Cash Flow 1 101 63.6 37.6 -0.5 -101 239
ROE (net income / shareholders' equity) 8.4% 9.67% 3.94% 8.96% 4.24% -6.87%
ROA (Net income/ Total Assets) 1.73% 1.77% 1.74% 2.24% 2.65% 2.65%
Assets 1 15,629 18,724 7,866 14,739 6,253 -9,807
Book Value Per Share 2 4.940 5.320 5.460 5.920 5.900 5.420
Cash Flow per Share 2 0.2700 0.2900 0.1800 0.1900 0.4900 0.2600
Capex 1 4.93 - - 1.98 - 3.33
Capex / Sales 2.41% - - 0.51% - 0.67%
Announcement Date 3/31/19 4/14/20 3/31/21 3/24/22 3/28/23 3/27/24
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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