Financials Olam International Limited Singapore S.E.

Equities

VC2

SG1Q75923504

Food Processing

End-of-day quote Singapore S.E. 06:00:00 2024-02-04 pm EST 5-day change 1st Jan Change
0.915 SGD -2.14% Intraday chart for Olam International Limited +2.81% -12.02%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 5,251 5,767 4,889 6,458 5,603 3,970
Enterprise Value (EV) 1 13,991 15,103 15,833 18,327 16,121 15,891
P/E ratio 18.2 x 11.5 x 26.2 x 9.72 x 9.5 x 16.2 x
Yield 4.55% 4.42% 4.9% 4.86% 5.82% 6.73%
Capitalization / Revenue 0.17 x 0.17 x 0.14 x 0.14 x 0.1 x 0.08 x
EV / Revenue 0.46 x 0.46 x 0.44 x 0.39 x 0.29 x 0.33 x
EV / EBITDA 12.3 x 11.1 x 11.2 x 10.3 x 8.09 x 8.24 x
EV / FCF 30.8 x 22 x -16.7 x -25.1 x 37.1 x -21.7 x
FCF Yield 3.25% 4.54% -5.97% -3.98% 2.7% -4.61%
Price to Book 0.83 x 0.9 x 0.82 x 0.95 x 0.73 x 0.54 x
Nbr of stocks (in thousands) 3,182,429 3,186,317 3,195,624 3,690,521 3,837,756 3,817,173
Reference price 2 1.650 1.810 1.530 1.750 1.460 1.040
Announcement Date 4/7/19 4/13/20 4/7/21 4/7/22 4/9/23 4/8/24
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 30,532 33,046 35,881 47,065 54,991 48,391
EBITDA 1 1,134 1,355 1,410 1,786 1,993 1,929
EBIT 1 748.6 964.4 983.2 1,322 1,491 1,406
Operating Margin 2.45% 2.92% 2.74% 2.81% 2.71% 2.91%
Earnings before Tax (EBT) 1 380.6 676.2 222.2 736.7 727.2 410.9
Net income 1 347.9 564.2 245.7 686.4 629.1 278.7
Net margin 1.14% 1.71% 0.68% 1.46% 1.14% 0.58%
EPS 2 0.0908 0.1579 0.0585 0.1800 0.1537 0.0641
Free Cash Flow 1 454.2 686 -946 -729.9 434.6 -732.9
FCF margin 1.49% 2.08% -2.64% -1.55% 0.79% -1.51%
FCF Conversion (EBITDA) 40.06% 50.62% - - 21.81% -
FCF Conversion (Net income) 130.57% 121.6% - - 69.09% -
Dividend per Share 2 0.0750 0.0800 0.0750 0.0850 0.0850 0.0700
Announcement Date 4/7/19 4/13/20 4/7/21 4/7/22 4/9/23 4/8/24
1SGD in Million2SGD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 8,740 9,336 10,943 11,868 10,517 11,921
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 7.709 x 6.889 x 7.76 x 6.646 x 5.276 x 6.181 x
Free Cash Flow 1 454 686 -946 -730 435 -733
ROE (net income / shareholders' equity) 4.94% 8.08% 2.89% 9.41% 7.42% 4.46%
ROA (Net income/ Total Assets) 2.05% 2.45% 2.34% 2.81% 2.91% 2.69%
Assets 1 17,006 22,986 10,499 24,406 21,602 10,356
Book Value Per Share 2 1.990 2.020 1.870 1.830 2.000 1.920
Cash Flow per Share 2 0.5000 0.7300 0.7000 0.8900 1.130 0.8500
Capex 1 795 601 596 665 784 663
Capex / Sales 2.61% 1.82% 1.66% 1.41% 1.43% 1.37%
Announcement Date 4/7/19 4/13/20 4/7/21 4/7/22 4/9/23 4/8/24
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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