SGX:BEW

Stock Analysis Report

Executive Summary

JB Foods Limited, an investment holding company, produces and sells cocoa ingredient products.

Snowflake

Fundamentals

Solid track record with adequate balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

1.5%

BEW

-0.9%

SG Food

0.9%

SG Market


1 Year Return

6.5%

BEW

5.7%

SG Food

0.7%

SG Market

Return vs Industry: BEW exceeded the SG Food industry which returned 5.7% over the past year.

Return vs Market: BEW exceeded the SG Market which returned 0.7% over the past year.


Shareholder returns

BEWIndustryMarket
7 Day1.5%-0.9%0.9%
30 Day0.8%-8.5%-1.7%
90 Day3.1%-9.8%-7.1%
1 Year11.4%6.5%8.5%5.7%4.7%0.7%
3 Year192.3%123.7%-4.3%-11.5%14.9%2.6%
5 Year107.0%58.4%-11.5%-21.4%10.0%-8.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

20.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: BEW (SGD0.66) is trading below our estimate of fair value (SGD0.83)

Significantly Undervalued: BEW is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BEW is good value based on its PE Ratio (5.4x) compared to the Food industry average (14.7x).

PE vs Market: BEW is good value based on its PE Ratio (5.4x) compared to the SG market (13.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BEW is overvalued based on its PB Ratio (1.1x) compared to the SG Food industry average (0.8x).


Next Steps

Future Growth

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

-10.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BEW's earnings are forecast to decline over the next 3 years (-10.4% per year).

Earnings vs Market: BEW's earnings are forecast to decline over the next 3 years (-10.4% per year).

High Growth Earnings: BEW's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if BEW's revenue is forecast to grow faster than the SG market.

High Growth Revenue: Insufficient data to determine if BEW's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if BEW's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has JB Foods performed over the past 5 years?

71.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BEW has become profitable over the past 5 years, growing earnings by 71.3% per year.

Accelerating Growth: BEW's earnings growth over the past year (10.1%) is below its 5-year average (71.3% per year).

Earnings vs Industry: BEW earnings growth over the past year (10.1%) exceeded the Food industry -16.5%.


Return on Equity

High ROE: BEW's Return on Equity (20.5%) is considered high.


Return on Assets

ROA vs Industry: BEW has a higher Return on Assets than the Food industry average last year.


Return on Capital Employed

ROCE Improving: BEW has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is JB Foods's financial position?


Financial Position Analysis

Short Term Liabilities: BEW's short term assets ($180.7M) exceeds its short term liabilities ($129.1M)

Long Term Liabilities: BEW's short term assets (180.7M) exceeds its long term liabilities (9.0M)


Debt to Equity History and Analysis

Debt Level: BEW's debt to equity ratio (85.3%) is considered high

Reducing Debt: BEW's debt to equity ratio has reduced from 170.2% to 85.3% over the past 5 years.

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

Interest Coverage: BEW's interest payments on its debt are well covered by EBIT (10.5x coverage).


Balance Sheet

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

Debt Coverage by Assets: BEW's debt is covered by short term assets (assets are 1.616290x debt).


Next Steps

Dividend

What is JB Foods's current dividend yield, its reliability and sustainability?

5.97%

Current Dividend Yield


Dividend Yield vs Market

company6.0%marketbottom25%2.5%markettop25%5.7%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BEW's dividend (5.97%) is higher than the bottom 25% of dividend payers in the SG market (2.51%).

High Dividend: BEW's dividend (5.97%) is in the top 25% of dividend payers in the SG market (5.65%)

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

Growing Dividend: BEW has only been paying a dividend for 7 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (24.9%), BEW's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of JB Foods's salary, the management and board of directors tenure and is there insider trading?

6.9yrs

Average management tenure


CEO

How Tey (53yo)

7.8yrs

Tenure

US$1,587,000

Compensation

Mr. How Keong Tey has been the Chief Executive Officer of JB Foods Limited since January 3, 2012. Mr. Tey is responsible for the overall strategic, management and business development of Group. Mr. Tey has ...


CEO Compensation Analysis

Compensation vs. Market: How's total compensation ($USD1.16M) is about average for companies of similar size in the SG market ($USD259.64K).

Compensation vs Earnings: How's compensation has increased by more than 20% in the past year.


Management Age and Tenure

6.9yrs

Average Tenure

48yo

Average Age

Experienced Management: BEW's management team is seasoned and experienced (6.9 years average tenure).


Board Age and Tenure

6.7yrs

Average Tenure

58yo

Average Age

Experienced Board: BEW's board of directors are considered experienced (6.7 years average tenure).


Insider Trading

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


Recent Insider Transactions

BuyUS$344,21121 Aug 19
How Tey
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares546,367
Max PriceUS$0.63
BuyUS$256,00030 May 19
Lee Goh
EntityIndividual
Role
Member of the Board of Directors
Executive Director
Shares400,000
Max PriceUS$0.64
BuyUS$131,84004 Mar 19
How Tey
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares206,000
Max PriceUS$0.64
BuyUS$69,89728 Feb 19
How Tey
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares101,300
Max PriceUS$0.69

Ownership Breakdown


Management Team

  • How Tey (53yo)

    CEO & Executive Director

    • Tenure: 7.8yrs
    • Compensation: US$1.59m
  • Lee Goh (53yo)

    Executive Director

    • Tenure: 7.4yrs
    • Compensation: US$786.00k
  • Poh Saw (43yo)

    Group Sales & Marketing Manager

    • Tenure: 9.1yrs
  • Beng Ong

    Joint Company Secretary

    • Tenure: 6yrs
  • Wing Wong (38yo)

    Chief Financial Officer

    • Tenure: 3.5yrs
  • Peck Hong

    Head of Asia Pacific Operations Manager

    • Tenure: 0yrs

Board Members

  • Koon Chin (63yo)

    Independent and Non-Executive Director

    • Tenure: 5.7yrs
    • Compensation: US$54.00k
  • Wen Loo (44yo)

    Alternate Director

    • Tenure: 6.4yrs
  • Sam Goi (72yo)

    Non-Executive & Non-Independent Vice-Chairman

    • Tenure: 6.6yrs
    • Compensation: US$42.00k
  • Michael Chua (68yo)

    Independent Non-Executive Chairman & Lead Independent Non-Executive Director

    • Tenure: 6.8yrs
    • Compensation: US$66.00k
  • How Tey (53yo)

    CEO & Executive Director

    • Tenure: 7.8yrs
    • Compensation: US$1.59m
  • Lee Goh (53yo)

    Executive Director

    • Tenure: 7.4yrs
    • Compensation: US$786.00k

Company Information

JB Foods Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: JB Foods Limited
  • Ticker: BEW
  • Exchange: SGX
  • Founded: 2012
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Market Cap: S$195.564m
  • Shares outstanding: 303.20m
  • Website: https://www.jbcocoa.com

Number of Employees


Location

  • JB Foods Limited
  • Lot CP1, Jalan Tanjung A/6
  • Pelabuhan Tanjung Pelepas
  • Gelang Patah
  • Johor
  • 81560
  • Malaysia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BEWSGX (Singapore Exchange)YesOrdinary SharesSGSGDJul 2012

Biography

JB Foods Limited, an investment holding company, produces and sells cocoa ingredient products. The company offers cocoa butter, powder, liquor, and cake products. It also procures, markets, and sells cocoa ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/17 12:50
End of Day Share Price2019/10/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.