First Resources
Market Cap
S$2.3b
Last Updated
2021/04/17 11:11 UTC
Data Sources
Company Financials +
Executive Summary
First Resources Limited, an investment holding company, engages in the palm oil production activities in Singapore, Indonesia, Europe, China, and internationally. More Details
Rewards
Risk Analysis
Snowflake Analysis
Flawless balance sheet with acceptable track record.
Share Price & News
How has First Resources's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: EB5 is not significantly more volatile than the rest of SG stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: EB5's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
4.3%
EB5
0.7%
SG Food
0.4%
SG Market
1 Year Return
14.8%
EB5
54.5%
SG Food
22.1%
SG Market
Return vs Industry: EB5 underperformed the SG Food industry which returned 54.5% over the past year.
Return vs Market: EB5 underperformed the SG Market which returned 22.1% over the past year.
Shareholder returns
| EB5 | Industry | Market | |
|---|---|---|---|
| 7 Day | 4.3% | 0.7% | 0.4% |
| 30 Day | 3.5% | 4.4% | 3.7% |
| 90 Day | -10.9% | 5.1% | 6.3% |
| 1 Year | 17.1%14.8% | 60.3%54.5% | 27.7%22.1% |
| 3 Year | -4.4%-11.4% | 47.0%34.0% | -0.2%-12.0% |
| 5 Year | -16.6%-25.0% | 34.7%17.0% | 20.9%-0.2% |
Long-Term Price Volatility Vs. Market
How volatile is First Resources's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Reflecting on First Resources' (SGX:EB5) Share Price Returns Over The Last Five Years3 weeks ago | Simply Wall St
Should You Investigate First Resources Limited (SGX:EB5) At S$1.45?1 month ago | Simply Wall St
Could First Resources Limited (SGX:EB5) Have The Makings Of Another Dividend Aristocrat?Valuation
Is First Resources undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: EB5 (SGD1.47) is trading below our estimate of fair value (SGD4.88)
Significantly Below Fair Value: EB5 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: EB5 is poor value based on its PE Ratio (17.5x) compared to the SG Food industry average (14.8x).
PE vs Market: EB5 is poor value based on its PE Ratio (17.5x) compared to the SG market (16.3x).
Price to Earnings Growth Ratio
PEG Ratio: EB5 is poor value based on its PEG Ratio (1.4x)
Price to Book Ratio
PB vs Industry: EB5 is overvalued based on its PB Ratio (1.6x) compared to the SG Food industry average (1x).
Future Growth
How is First Resources forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
12.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: EB5's forecast earnings growth (12.7% per year) is above the savings rate (2%).
Earnings vs Market: EB5's earnings (12.7% per year) are forecast to grow slower than the SG market (24.8% per year).
High Growth Earnings: EB5's earnings are forecast to grow, but not significantly.
Revenue vs Market: EB5's revenue (5.1% per year) is forecast to grow slower than the SG market (8.7% per year).
High Growth Revenue: EB5's revenue (5.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: EB5's Return on Equity is forecast to be low in 3 years time (12.4%).
Past Performance
How has First Resources performed over the past 5 years?
-2.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: EB5 has high quality earnings.
Growing Profit Margin: EB5's current net profit margins (15.1%) are higher than last year (14.5%).
Past Earnings Growth Analysis
Earnings Trend: EB5's earnings have declined by 2.9% per year over the past 5 years.
Accelerating Growth: EB5's earnings growth over the past year (11.7%) exceeds its 5-year average (-2.9% per year).
Earnings vs Industry: EB5 earnings growth over the past year (11.7%) underperformed the Food industry 21%.
Return on Equity
High ROE: EB5's Return on Equity (9.5%) is considered low.
Financial Health
How is First Resources's financial position?
Financial Position Analysis
Short Term Liabilities: EB5's short term assets ($451.7M) exceed its short term liabilities ($348.5M).
Long Term Liabilities: EB5's short term assets ($451.7M) exceed its long term liabilities ($311.2M).
Debt to Equity History and Analysis
Debt Level: EB5's debt to equity ratio (39%) is considered satisfactory.
Reducing Debt: EB5's debt to equity ratio has reduced from 63.3% to 39% over the past 5 years.
Debt Coverage: EB5's debt is well covered by operating cash flow (43.8%).
Interest Coverage: EB5's interest payments on its debt are well covered by EBIT (11.8x coverage).
Balance Sheet
Dividend
What is First Resources's current dividend yield, its reliability and sustainability?
2.02%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: EB5's dividend (2.02%) is higher than the bottom 25% of dividend payers in the SG market (1.87%).
High Dividend: EB5's dividend (2.02%) is low compared to the top 25% of dividend payers in the SG market (4.62%).
Stability and Growth of Payments
Stable Dividend: EB5's dividend payments have been volatile in the past 10 years.
Growing Dividend: EB5's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (36%), EB5's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: EB5's dividends in 3 years are forecast to be well covered by earnings (49.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
14.3yrs
Average management tenure
CEO
Ciliandra Fangiono (44 yo)
18.25yrs
Tenure
US$1,046,104
Compensation
Mr. Ciliandra Fangiono has been the Chief Executive Officer of First Resources Ltd. since 2003. Mr. Fangiono served as the President Director of Pt Ciliandra Perkasa. He has been an Executive Director of F...
CEO Compensation Analysis
Compensation vs Market: Ciliandra's total compensation ($USD1.05M) is about average for companies of similar size in the SG market ($USD1.06M).
Compensation vs Earnings: Ciliandra's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: EB5's management team is seasoned and experienced (14.3 years average tenure).
Board Members
Experienced Board: EB5'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
First Resources Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: First Resources Limited
- Ticker: EB5
- Exchange: SGX
- Founded: 1992
- Industry: Agricultural Products
- Sector: Food, Beverage & Tobacco
- Market Cap: S$2.325b
- Shares outstanding: 1.58b
- Website: https://www.first-resources.com
Number of Employees
Location
- First Resources Limited
- No. 36-02, Suntec Tower Three
- 8 Temasek Boulevard
- Singapore
- 38988
- Singapore
Listings
Biography
First Resources Limited, an investment holding company, engages in the palm oil production activities in Singapore, Indonesia, Europe, China, and internationally. The company operates in two segments, Plan...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/04/17 11:11 |
| End of Day Share Price | 2021/04/16 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.