SGX:G13

Stock Analysis Report

Executive Summary

Genting Singapore Limited engages in the development, management, and operation of integrated resort destinations in Asia.


Snowflake Analysis

Flawless balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: G13 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.6%

G13

0.3%

SG Hospitality

-0.7%

SG Market


1 Year Return

-17.8%

G13

-15.5%

SG Hospitality

-3.7%

SG Market

Return vs Industry: G13 underperformed the SG Hospitality industry which returned -15.5% over the past year.

Return vs Market: G13 underperformed the SG Market which returned -3.7% over the past year.


Shareholder returns

G13IndustryMarket
7 Day-0.6%0.3%-0.7%
30 Day-3.3%-3.5%-2.1%
90 Day-6.4%-5.2%-1.5%
1 Year-14.6%-17.8%-12.5%-15.5%0.2%-3.7%
3 Year-3.8%-12.4%0.07%-8.5%8.6%-2.9%
5 Year2.7%-10.7%1.9%-12.2%9.0%-9.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

15.41x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: G13 (SGD0.88) is trading above our estimate of fair value (SGD0.77)

Significantly Below Fair Value: G13 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: G13 is good value based on its PE Ratio (15.4x) compared to the Hospitality industry average (30.4x).

PE vs Market: G13 is poor value based on its PE Ratio (15.4x) compared to the SG market (13.5x).


Price to Earnings Growth Ratio

PEG Ratio: G13 is poor value based on its PEG Ratio (31.2x)


Price to Book Ratio

PB vs Industry: G13 is overvalued based on its PB Ratio (1.3x) compared to the SG Hospitality industry average (0.9x).


Next Steps

Future Growth

How is Genting Singapore forecast to perform in the next 1 to 3 years based on estimates from 19 analysts?

0.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: G13's forecast earnings growth (0.5% per year) is below the savings rate (1.8%).

Earnings vs Market: G13's earnings (0.5% per year) are forecast to grow slower than the SG market (5.4% per year).

High Growth Earnings: G13's earnings are forecast to grow, but not significantly.

Revenue vs Market: G13's revenue (2.1% per year) is forecast to grow slower than the SG market (5.4% per year).

High Growth Revenue: G13's revenue (2.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: G13's Return on Equity is forecast to be low in 3 years time (7.8%).


Next Steps

Past Performance

How has Genting Singapore performed over the past 5 years?

28.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: G13 has high quality earnings.

Growing Profit Margin: G13's current net profit margins (27.8%) are lower than last year (29.7%).


Past Earnings Growth Analysis

Earnings Trend: G13's earnings have grown significantly by 28.6% per year over the past 5 years.

Accelerating Growth: G13's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: G13 had negative earnings growth (-8.8%) over the past year, making it difficult to compare to the Hospitality industry average (-20.2%).


Return on Equity

High ROE: G13's Return on Equity (8.5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Genting Singapore's financial position?


Financial Position Analysis

Short Term Liabilities: G13's short term assets (SGD4.1B) exceed its short term liabilities (SGD703.4M).

Long Term Liabilities: G13's short term assets (SGD4.1B) exceed its long term liabilities (SGD489.1M).


Debt to Equity History and Analysis

Debt Level: G13's debt to equity ratio (3.1%) is considered satisfactory.

Reducing Debt: G13's debt to equity ratio has reduced from 17.5% to 3.1% over the past 5 years.

Debt Coverage: G13's debt is well covered by operating cash flow (440%).

Interest Coverage: G13 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: G13 has a high level of physical assets or inventory.

Debt Coverage by Assets: G13's debt is covered by short term assets (assets are 16.7x debt).


Next Steps

Dividend

What is Genting Singapore's current dividend yield, its reliability and sustainability?

4.55%

Current Dividend Yield


Dividend Yield vs Market

company4.5%marketbottom25%2.6%markettop25%5.7%industryaverage3.7%forecastin3Years4.5%

Current dividend yield vs market & industry

Notable Dividend: G13's dividend (4.55%) is higher than the bottom 25% of dividend payers in the SG market (2.56%).

High Dividend: G13's dividend (4.55%) is low compared to the top 25% of dividend payers in the SG market (5.66%).


Stability and Growth of Payments

Stable Dividend: G13 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: G13's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (70%), G13's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: G13's dividends in 3 years are forecast to be covered by earnings (74.2% payout ratio).


Next Steps

Management

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

10.0yrs

Average management tenure


CEO

Genting Singapore has no CEO, or we have no data on them.


Leadership Team

NamePositionTenureCompensationOwnership
Kok Thay Lim
Executive Chairman26.3yrsno data0.12% SGD12.5m
Hee Teck Tan
President10yrsno data0.13% SGD13.9m
Shi Ruh Lee
Chief Financial Officer10.1yrsno datano data
Weng Chee
Senior Vice President of Legal & Compliance - RWS0yrsno datano data
Nanami Kasasaki
Chief Corporate Officer0yrsno data0.0059% SGD628.1k
Aung Peng Teo
Assistant Chief Operating Officer - RWS0yrsno datano data
Lan Hing Liew
Company Secretary1.8yrsno datano data
On Nam Lee
Executive Officer0yrsno datano data
Jason Horkin
Executive Officer0yrsno datano data
Jason Pearce
Executive Officer0yrsno datano data

10.0yrs

Average Tenure

63yo

Average Age

Experienced Management: G13's management team is seasoned and experienced (10 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kok Thay Lim
Executive Chairman26.3yrsno data0.12% SGD12.5m
Hee Teck Tan
President10yrsno data0.13% SGD13.9m
Seow Chuan Koh
Independent Non-Executive Director11.8yrsno datano data
Jonathan Asherson
Independent Non-Executive Director2.8yrsno data0.0010% SGD110.3k
Wah Yeow Tan
Independent Non-Executive Director2.3yrsno data0.0010% SGD110.3k
Carolina Liang Chan Swee
Lead Independent Director0.8yrsno datano data

6.4yrs

Average Tenure

63yo

Average Age

Experienced Board: G13's board of directors are considered experienced (6.4 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Genting Singapore Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Genting Singapore Limited
  • Ticker: G13
  • Exchange: SGX
  • Founded: 1984
  • Industry: Casinos and Gaming
  • Sector: Consumer Services
  • Market Cap: S$10.610b
  • Shares outstanding: 12.06b
  • Website: https://www.gentingsingapore.com

Number of Employees


Location

  • Genting Singapore Limited
  • 10 Sentosa Gateway
  • Resorts World Sentosa
  • Singapore
  • 98270
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
G13SGX (Singapore Exchange)YesOrdinary SharesSGSGDJan 1992
GIGN.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
36TDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
GIGN.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDNov 2008

Biography

Genting Singapore Limited engages in the development, management, and operation of integrated resort destinations in Asia. Its integrated resort destinations comprise gaming, hospitality, MICE, leisure, and entertainment facilities. The company primarily owns Resorts World Sentosa, a destination resort, which offers a casino, Adventure Cove Waterpark, S.E.A. Aquarium, Universal Studios Singapore Theme Park, MICE facilities, hotels, restaurants, SPA, and specialty retail outlets. It is also involved in the operation of casinos; and provision of sales and marketing support services to leisure and hospitality related businesses, as well as in the investment activities. The company was incorporated in 1984 and is based in Singapore. Genting Singapore Limited is a subsidiary of Genting Group. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 12:47
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
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.