Financials Sheng Siong Group Ltd

Equities

OV8

SG2D54973185

Food Retail & Distribution

Market Closed - Singapore S.E. 05:06:38 2024-04-30 am EDT 5-day change 1st Jan Change
1.55 SGD -.--% Intraday chart for Sheng Siong Group Ltd +1.31% -3.12%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,864 2,330 2,195 2,481 2,406 2,330 - -
Enterprise Value (EV) 1 1,845 2,152 2,030 2,205 2,406 1,946 1,863 2,330
P/E ratio 24.6 x 16.8 x 16.5 x 18.6 x 18 x 16.5 x 16.2 x 16.1 x
Yield 2.86% 4.19% 4.25% 3.77% - 4.27% 4.37% 4.39%
Capitalization / Revenue 1.88 x 1.67 x 1.6 x 1.85 x 1.76 x 1.64 x 1.58 x 1.55 x
EV / Revenue 1.86 x 1.54 x 1.48 x 1.65 x 1.76 x 1.37 x 1.27 x 1.55 x
EV / EBITDA 16.7 x 11.5 x 11.1 x 12.1 x 13.9 x 10.5 x 9.86 x 12.5 x
EV / FCF 29 x 8.37 x 14.4 x 14 x - 12.1 x 10 x 12.3 x
FCF Yield 3.45% 11.9% 6.95% 7.16% - 8.26% 9.98% 8.1%
Price to Book 5.95 x 8.28 x 5.31 x 5.48 x - 4.32 x 4.01 x 3.73 x
Nbr of stocks (in thousands) 1,503,537 1,503,537 1,503,537 1,503,537 1,503,537 1,503,537 - -
Reference price 2 1.240 1.550 1.460 1.650 1.600 1.550 1.550 1.550
Announcement Date 2/20/20 2/24/21 2/23/22 2/27/23 2/27/24 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 991.3 1,394 1,370 1,339 1,368 1,419 1,473 1,504
EBITDA 1 110.6 186.8 182.7 181.7 173.3 185.2 189 186.3
EBIT 1 92.58 166.1 162.2 162.2 155.4 162.1 166.4 167
Operating Margin 9.34% 11.92% 11.84% 12.11% 11.36% 11.42% 11.3% 11.1%
Earnings before Tax (EBT) 1 91.91 165.1 161 163.1 163.1 169.5 174.7 176.4
Net income 1 75.73 138.6 132.8 133.3 133.6 139.7 143.8 145.6
Net margin 7.64% 9.95% 9.7% 9.95% 9.77% 9.85% 9.76% 9.68%
EPS 2 0.0504 0.0922 0.0883 0.0887 0.0889 0.0938 0.0958 0.0963
Free Cash Flow 1 63.71 257 141 158 - 160.7 186 188.8
FCF margin 6.43% 18.44% 10.29% 11.8% - 11.32% 12.63% 12.55%
FCF Conversion (EBITDA) 57.59% 137.58% 77.2% 86.95% - 86.75% 98.4% 101.32%
FCF Conversion (Net income) 84.13% 185.37% 106.16% 118.53% - 115% 129.33% 129.64%
Dividend per Share 2 0.0355 0.0650 0.0620 0.0622 - 0.0662 0.0678 0.0680
Announcement Date 2/20/20 2/24/21 2/23/22 2/27/23 2/27/24 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 S1 2023 Q1
Net sales 1 - 356.5
EBITDA - -
EBIT 1 - 38.86
Operating Margin - 10.9%
Earnings before Tax (EBT) 1 - 40.56
Net income 1 67.37 33.24
Net margin - 9.32%
EPS 2 0.0448 2.210
Dividend per Share - -
Announcement Date 7/28/22 4/28/23
1SGD in Million2SGD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 19.4 178 165 275 - 384 467 -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 63.7 257 141 158 - 161 186 189
ROE (net income / shareholders' equity) 25.1% 41.4% 33.8% 30.8% - 27.1% 25.9% 24.6%
ROA (Net income/ Total Assets) 15.6% 22.6% 18.6% 17.5% - 16.3% 16.1% 15.5%
Assets 1 484.5 612.4 715.5 762.1 - 858.6 894.6 942.6
Book Value Per Share 2 0.2100 0.1900 0.2800 0.3000 - 0.3600 0.3900 0.4200
Cash Flow per Share 2 0.0800 0.1800 0.1100 0.1100 - 0.1300 0.1400 -
Capex 1 53.6 17.1 31.7 8.8 - 10.8 10.3 10.6
Capex / Sales 5.41% 1.23% 2.31% 0.66% - 0.76% 0.7% 0.7%
Announcement Date 2/20/20 2/24/21 2/23/22 2/27/23 2/27/24 - - -
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
C
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
1.55 SGD
Average target price
1.738 SGD
Spread / Average Target
+12.15%
Consensus

Annual profits - Rate of surprise

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