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BBP

Hor Kew SGX:BBP Stock Report

Last Price

S$0.26

Market Cap

S$13.5m

7D

0%

1Y

-3.7%

Updated

27 Jun, 2022

Data

Company Financials
BBP fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance4/6
Financial Health2/6
Dividends0/6

BBP Stock Overview

Hor Kew Corporation Limited, an investment holding company, provides various integrated range of construction-related products and services in Singapore.

Hor Kew Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Hor Kew
Historical stock prices
Current Share PriceS$0.26
52 Week HighS$0.28
52 Week LowS$0.20
Beta0.15
1 Month Change0%
3 Month Change13.04%
1 Year Change-3.70%
3 Year Change73.33%
5 Year Change-30.67%
Change since IPO-90.10%

Recent News & Updates

Apr 22
Slowing Rates Of Return At Hor Kew (SGX:BBP) Leave Little Room For Excitement

Slowing Rates Of Return At Hor Kew (SGX:BBP) Leave Little Room For Excitement

There are a few key trends to look for if we want to identify the next multi-bagger. Typically, we'll want to notice a...

Mar 16
We Think Hor Kew (SGX:BBP) Is Taking Some Risk With Its Debt

We Think Hor Kew (SGX:BBP) Is Taking Some Risk With Its Debt

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Shareholder Returns

BBPSG ConstructionSG Market
7D0%-0.2%0.2%
1Y-3.7%-4.8%-3.4%

Return vs Industry: BBP exceeded the SG Construction industry which returned -4.8% over the past year.

Return vs Market: BBP matched the SG Market which returned -3.4% over the past year.

Price Volatility

Is BBP's price volatile compared to industry and market?
BBP volatility
BBP Average Weekly Movement7.9%
Construction Industry Average Movement7.9%
Market Average Movement4.8%
10% most volatile stocks in SG Market11.1%
10% least volatile stocks in SG Market2.2%

Stable Share Price: BBP is not significantly more volatile than the rest of SG stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: BBP's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1979n/aBenjamin Awhttps://www.horkew.com.sg

Hor Kew Corporation Limited, an investment holding company, provides various integrated range of construction-related products and services in Singapore. It operates through Property Investment and Development; Construction; and Prefabrication segments. The Property Investment and Development segment is involved in the development, sale, and leasing of residential, commercial, and industrial properties.

Hor Kew Fundamentals Summary

How do Hor Kew's earnings and revenue compare to its market cap?
BBP fundamental statistics
Market CapS$13.54m
Earnings (TTM)S$4.02m
Revenue (TTM)S$56.81m

3.4x

P/E Ratio

0.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BBP income statement (TTM)
RevenueS$56.81m
Cost of RevenueS$43.53m
Gross ProfitS$13.28m
Other ExpensesS$9.26m
EarningsS$4.02m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.077
Gross Margin23.37%
Net Profit Margin7.08%
Debt/Equity Ratio97.3%

How did BBP perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is BBP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BBP?

Other financial metrics that can be useful for relative valuation.

BBP key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.9x
Enterprise Value/EBITDA7.9x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does BBP's PE Ratio compare to its peers?

BBP PE Ratio vs Peers
The above table shows the PE ratio for BBP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average30x
41B Huationg Global
2.8xn/aS$15.9m
1B6 Ocean Sky International
23.4xn/aS$15.9m
43F AcroMeta Group
80.5xn/aS$8.6m
5VC Kori Holdings
13.3xn/aS$15.7m
BBP Hor Kew
3.4xn/aS$13.5m

Price-To-Earnings vs Peers: BBP is good value based on its Price-To-Earnings Ratio (3.4x) compared to the peer average (30x).


Price to Earnings Ratio vs Industry

How does BBP's PE Ratio compare vs other companies in the SG Construction Industry?

Price-To-Earnings vs Industry: BBP is good value based on its Price-To-Earnings Ratio (3.4x) compared to the SG Construction industry average (14.1x)


Price to Earnings Ratio vs Fair Ratio

What is BBP's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BBP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate BBP's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of BBP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BBP (SGD0.26) is trading below our estimate of fair value (SGD7.53)

Significantly Below Fair Value: BBP is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BBP's PEG Ratio to determine if it is good value.


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Future Growth

How is Hor Kew forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


15.5%

Forecasted Capital Goods industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Hor Kew has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


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  • Examine whether Hor Kew is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • Hor Kew competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Hor Kew performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


23.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BBP has a large one-off gain of SGD1.5M impacting its December 31 2021 financial results.

Growing Profit Margin: BBP's current net profit margins (7.1%) are higher than last year (0.7%).


Past Earnings Growth Analysis

Earnings Trend: BBP has become profitable over the past 5 years, growing earnings by 23.9% per year.

Accelerating Growth: BBP's earnings growth over the past year (1111.4%) exceeds its 5-year average (23.9% per year).

Earnings vs Industry: BBP earnings growth over the past year (1111.4%) exceeded the Construction industry 78.1%.


Return on Equity

High ROE: BBP's Return on Equity (6.3%) is considered low.


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Financial Health

How is Hor Kew's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: BBP's short term assets (SGD68.9M) exceed its short term liabilities (SGD56.9M).

Long Term Liabilities: BBP's short term assets (SGD68.9M) exceed its long term liabilities (SGD35.7M).


Debt to Equity History and Analysis

Debt Level: BBP's net debt to equity ratio (57.1%) is considered high.

Reducing Debt: BBP's debt to equity ratio has increased from 63.9% to 97.3% over the past 5 years.

Debt Coverage: BBP's debt is not well covered by operating cash flow (13.9%).

Interest Coverage: BBP's interest payments on its debt are not well covered by EBIT (1x coverage).


Balance Sheet


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Dividend

What is Hor Kew current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate BBP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BBP's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BBP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BBP's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: BBP is not paying a notable dividend for the SG market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as BBP has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

11.4yrs

Average management tenure


CEO

Benjamin Aw (42 yo)

2.17yrs

Tenure

Mr. Chi-Ken Aw, also known as Benjamin, serves as an Executive Chairman & CEO of Hor Kew Corporation Limited since April 1, 2020. He has been an Executive Director of Hor Kew Corp. Ltd. since February 27,...


Leadership Team

Experienced Management: BBP's management team is seasoned and experienced (11.4 years average tenure).


Board Members

Experienced Board: BBP's board of directors are seasoned and experienced ( 19.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Hor Kew Corporation Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Hor Kew Corporation Limited
  • Ticker: BBP
  • Exchange: SGX
  • Founded: 1979
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Implied Market Cap: S$13.537m
  • Shares outstanding: 52.07m
  • Website: https://www.horkew.com.sg

Location

  • Hor Kew Corporation Limited
  • No. 07-01 Hor Kew Business Centre
  • 66 Kallang Pudding Road
  • Singapore
  • 349324
  • Singapore

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/27 00:00
End of Day Share Price2022/06/24 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.