SGX:BN4

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Executive Summary

Keppel Corporation Limited, an investment holding company, engages in the offshore and marine, property, infrastructure, and investment businesses in Singapore, China, Hong Kong, Brazil, other Far East and ASEAN countries, and internationally. More Details


Snowflake Analysis

Moderate growth potential with imperfect balance sheet.


Similar Companies

Share Price & News

How has Keppel's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BN4's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0%

BN4

-2.6%

SG Industrials

-0.4%

SG Market


1 Year Return

-29.3%

BN4

-19.5%

SG Industrials

-21.3%

SG Market

Return vs Industry: BN4 underperformed the SG Industrials industry which returned -20.3% over the past year.

Return vs Market: BN4 underperformed the SG Market which returned -21.7% over the past year.


Shareholder returns

BN4IndustryMarket
7 Day0%-2.6%-0.4%
30 Day-9.5%-5.7%-2.7%
90 Day-29.7%-7.2%-3.8%
1 Year-27.6%-29.3%-16.7%-19.5%-17.1%-21.3%
3 Year-29.8%-36.3%-28.1%-36.6%-18.9%-28.7%
5 Year-26.9%-38.9%-20.1%-32.7%-2.0%-19.9%

Price Volatility Vs. Market

How volatile is Keppel's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Keppel undervalued compared to its fair value and its price relative to the market?

0.73x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: BN4 (SGD4.19) is trading above our estimate of fair value (SGD2.98)

Significantly Below Fair Value: BN4 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BN4 is unprofitable, so we can't compare its PE Ratio to the XA Industrials industry average.

PE vs Market: BN4 is unprofitable, so we can't compare its PE Ratio to the SG market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BN4's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BN4's PB Ratio (0.7x) is in line with the XA Industrials industry average.


Next Steps

Future Growth

How is Keppel forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

58.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BN4 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).

Earnings vs Market: BN4 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: BN4's is expected to become profitable in the next 3 years.

Revenue vs Market: BN4's revenue (4.6% per year) is forecast to grow slower than the SG market (6.5% per year).

High Growth Revenue: BN4's revenue (4.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BN4's Return on Equity is forecast to be low in 3 years time (7.5%).


Next Steps

Past Performance

How has Keppel performed over the past 5 years?

-30.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BN4 is currently unprofitable.

Growing Profit Margin: BN4 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BN4 is unprofitable, and losses have increased over the past 5 years at a rate of 30% per year.

Accelerating Growth: Unable to compare BN4's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BN4 is unprofitable, making it difficult to compare its past year earnings growth to the Industrials industry (-18%).


Return on Equity

High ROE: BN4 has a negative Return on Equity (-1.52%), as it is currently unprofitable.


Next Steps

Financial Health

How is Keppel's financial position?


Financial Position Analysis

Short Term Liabilities: BN4's short term assets (SGD13.6B) exceed its short term liabilities (SGD12.6B).

Long Term Liabilities: BN4's short term assets (SGD13.6B) exceed its long term liabilities (SGD8.5B).


Debt to Equity History and Analysis

Debt Level: BN4's debt to equity ratio (120.2%) is considered high.

Reducing Debt: BN4's debt to equity ratio has increased from 62.5% to 120.2% over the past 5 years.

Debt Coverage: BN4's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: BN4 is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Keppel current dividend yield, its reliability and sustainability?

4.77%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BN4's dividend (4.77%) is higher than the bottom 25% of dividend payers in the SG market (2.53%).

High Dividend: BN4's dividend (4.77%) is low compared to the top 25% of dividend payers in the SG market (5.69%).


Stability and Growth of Payments

Stable Dividend: BN4's dividend payments have been volatile in the past 10 years.

Growing Dividend: BN4's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: BN4 is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: BN4's dividends in 3 years are forecast to be well covered by earnings (49.5% payout ratio).


Next Steps

Management

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

3.3yrs

Average management tenure


CEO

Chin Hua Loh (59 yo)

6.67yrs

Tenure

S$7,179,487

Compensation

Mr. Chin Hua Loh, CFA serves as Director at M1 Limited since June 11, 2019. He has been the Chief Executive Officer and Executive Director of Keppel Corporation Limited since January 1, 2014. Mr. Loh has b ...


CEO Compensation Analysis

Compensation vs Market: Chin Hua's total compensation ($USD5.21M) is above average for companies of similar size in the SG market ($USD3.30M).

Compensation vs Earnings: Chin Hua's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Chin Hua Loh
CEO & Executive Director6.67yrsS$7.18m0.10%
SGD 7.5m
Hon Chew Chan
Chief Financial Officer6.58yrsno datano data
Soo Hwa Tok
General Manager of Group Control & Accountsno datano datano data
Caroline Chang
GM of Group Legal & Company Secretaryno datano datano data
Kenny Mok
General Manager of Group Risk & Compliance1.67yrsno datano data
Tong Yen Ho
Director of Group Corporate Communications5.17yrsno datano data
Joo Ling Lim
Director of Group Corporate Development & MD of Keppel Urban Solutions3.92yrsno datano data
Meng Hin Yeo
Director of Group Human Resources2.67yrsno datano data
Toh Sim Goh
Chief Representative of Chinano datano datano data
Eng Tan
Chief Financial Officer of Keppel Telecommunications & Transportationno datano datano data
Lu-yi Lim
Chief Operating Officer of Keppel Land2.67yrsno datano data
Kevin Chng
Chief Financial Officer of Keppel Offshore & Marine1.67yrsno datano data

3.3yrs

Average Tenure

59yo

Average Age

Experienced Management: BN4's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Chin Hua Loh
CEO & Executive Director6.67yrsS$7.18m0.10%
SGD 7.5m
Siang Yang Eng
Non-Executive & Independent Director5.17yrsS$211.00k0.0021%
SGD 155.7k
Khirn Hai Yeo
Non-Executive & Independent Director11.25yrsS$168.00k0.0056%
SGD 415.1k
Kee Lock Chua
Member of Technology Advisory Panel4.42yrsno datano data
Stefan Thomke
Member of Technology Advisory Panel8.67yrsno datano data
Boon Yang Lee
Non-Executive & Independent Chairman11.17yrsS$750.00k0.020%
SGD 1.5m
Ek Kia Tan
Non-Executive & Independent Director9.92yrsS$227.00k0.0035%
SGD 257.8k
Leong Kay Teoh
Non-Executive & Independent Director9.92yrsS$242.00k0.0052%
SGD 389.0k
Till Bernhard Vestring
Non-Executive & Independent Director5.58yrsS$179.00k0.0049%
SGD 365.1k
Wun Ng
Chairman of Technology Advisory Panel2.67yrsno datano data
Peter Noble
Member of Technology Advisory Panel2.67yrsno datano data
Jean-François Manzoni
Non-Executive & Independent Director1.92yrsS$150.59k0.0059%
SGD 442.6k

6.1yrs

Average Tenure

59yo

Average Age

Experienced Board: BN4's board of directors are considered experienced (6.1 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: BN4 insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Keppel Corporation Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Keppel Corporation Limited
  • Ticker: BN4
  • Exchange: SGX
  • Founded: 1968
  • Industry: Industrial Conglomerates
  • Sector: Capital Goods
  • Market Cap: S$7.452b
  • Shares outstanding: 1.82b
  • Website: https://www.kepcorp.com

Number of Employees


Location

  • Keppel Corporation Limited
  • No. 18-01 Keppel Bay Tower
  • 1 HarbourFront Avenue
  • Singapore
  • 98632
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KPEL.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDJun 1991
BN4SGX (Singapore Exchange)YesOrdinary SharesSGSGDJan 1992
KEP1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
KPEL.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992

Biography

Keppel Corporation Limited, an investment holding company, engages in the offshore and marine, property, infrastructure, and investment businesses in Singapore, China, Hong Kong, Brazil, other Far East and ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/28 12:35
End of Day Share Price2020/09/28 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.