SGX:F34

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Wilmar International Limited operates as an agribusiness company in Singapore and internationally. More Details


Snowflake Analysis

Solid track record average dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: F34 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-5.6%

F34

-4.2%

SG Food

-0.09%

SG Market


1 Year Return

14.3%

F34

3.1%

SG Food

-21.9%

SG Market

Return vs Industry: F34 exceeded the SG Food industry which returned 3.1% over the past year.

Return vs Market: F34 exceeded the SG Market which returned -21.8% over the past year.


Shareholder returns

F34IndustryMarket
7 Day-5.6%-4.2%-0.09%
30 Day-2.8%-1.9%2.4%
90 Day-1.2%-2.6%-2.0%
1 Year18.1%14.3%6.5%3.1%-17.6%-21.9%
3 Year38.0%25.8%0.7%-7.9%-20.1%-29.8%
5 Year55.4%35.5%10.8%-2.8%-5.0%-22.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

13.75x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: F34 (SGD4.24) is trading above our estimate of fair value (SGD3.03)

Significantly Below Fair Value: F34 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: F34 is poor value based on its PE Ratio (13.8x) compared to the SG Food industry average (9.5x).

PE vs Market: F34 is poor value based on its PE Ratio (13.8x) compared to the SG market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: F34 is poor value based on its PEG Ratio (2.1x)


Price to Book Ratio

PB vs Industry: F34 is overvalued based on its PB Ratio (1.2x) compared to the SG Food industry average (0.8x).


Next Steps

Future Growth

How is Wilmar International forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

6.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: F34's forecast earnings growth (6.6% per year) is above the savings rate (2.2%).

Earnings vs Market: F34's earnings (6.6% per year) are forecast to grow slower than the SG market (22% per year).

High Growth Earnings: F34's earnings are forecast to grow, but not significantly.

Revenue vs Market: F34's revenue (7.3% per year) is forecast to grow faster than the SG market (6.8% per year).

High Growth Revenue: F34's revenue (7.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: F34's Return on Equity is forecast to be low in 3 years time (7.8%).


Next Steps

Past Performance

How has Wilmar International performed over the past 5 years?

5.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: F34 has high quality earnings.

Growing Profit Margin: F34's current net profit margins (3.2%) are higher than last year (2.5%).


Past Earnings Growth Analysis

Earnings Trend: F34's earnings have grown by 5.5% per year over the past 5 years.

Accelerating Growth: F34's earnings growth over the past year (34.4%) exceeds its 5-year average (5.5% per year).

Earnings vs Industry: F34 earnings growth over the past year (34.4%) exceeded the Food industry 10.4%.


Return on Equity

High ROE: F34's Return on Equity (8.6%) is considered low.


Next Steps

Financial Health

How is Wilmar International's financial position?


Financial Position Analysis

Short Term Liabilities: F34's short term assets ($25.9B) exceed its short term liabilities ($23.1B).

Long Term Liabilities: F34's short term assets ($25.9B) exceed its long term liabilities ($6.6B).


Debt to Equity History and Analysis

Debt Level: F34's debt to equity ratio (138.8%) is considered high.

Reducing Debt: F34's debt to equity ratio has increased from 137.9% to 138.8% over the past 5 years.

Debt Coverage: F34's debt is not well covered by operating cash flow (12.4%).

Interest Coverage: F34's interest payments on its debt are well covered by EBIT (8.4x coverage).


Balance Sheet


Next Steps

Dividend

What is Wilmar International current dividend yield, its reliability and sustainability?

2.78%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: F34's dividend (2.78%) is higher than the bottom 25% of dividend payers in the SG market (2.52%).

High Dividend: F34's dividend (2.78%) is low compared to the top 25% of dividend payers in the SG market (5.36%).


Stability and Growth of Payments

Stable Dividend: F34's dividend payments have been volatile in the past 10 years.

Growing Dividend: F34's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (43.8%), F34's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: F34's dividends in 3 years are forecast to be well covered by earnings (45.8% payout ratio).


Next Steps

Management

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

12.1yrs

Average management tenure


CEO

Khoon Hong Kuok (71 yo)

14.25yrs

Tenure

US$7,354,155

Compensation

Mr. Khoon Hong Kuok serves as Non-Independent Non-Executive Chairman at Perennial Real Estate Holdings Limited since October 27, 2014. He is the Co-founder of Wilmar International Limited and has been its ...


CEO Compensation Analysis

Compensation vs Market: Khoon Hong's total compensation ($USD4.02M) is about average for companies of similar size in the SG market ($USD4.82M).

Compensation vs Earnings: Khoon Hong's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Khoon Hong Kuok
Co-Founder14.25yrsUS$7.35m5.97%
$ 1.6b
Seck Guan Pua
COO & Executive Director4.75yrsUS$2.35m0.014%
$ 3.6m
La-Mei Teo
Group Legal Counsel1.67yrsUS$1.77m0.019%
$ 5.1m
Cheau Leong Loo
Chief Financial Officer0.33yrno data0.00019%
$ 51.2k
Matthew Morgenroth
Group Technical Head20.75yrsno datano data
Nam-Hai Chua
Chief Scientific Advisor13.08yrsno datano data
Kah Chai Tan
Chief Information Officer0.75yrno datano data
Kok Liann Tan
Group Head of Human Resources2.92yrsno datano data
Rahul Kale
Group Head of Oleochemicals & Biofuelsno datano datano data
Soo Chay Tan
Group Head of Internal Audit19.75yrsno datano data
Chek Yee
Country Head of Malaysiano datano datano data
Kin Wai Goon
Chief Sustainability Officer13.33yrsno datano data

12.1yrs

Average Tenure

51.5yo

Average Age

Experienced Management: F34's management team is seasoned and experienced (12.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Khoon Hong Kuok
Co-Founder14.25yrsUS$7.35m5.97%
$ 1.6b
Seck Guan Pua
COO & Executive Director4.75yrsUS$2.35m0.014%
$ 3.6m
La-Mei Teo
Group Legal Counsel1.67yrsUS$1.77m0.019%
$ 5.1m
Weijian Shan
Non-Executive & Independent Director2.75yrsUS$80.00kno data
Khoon Ean Kuok
Non-Executive & Non-Independent Director13.25yrsUS$175.00k0.0089%
$ 2.4m
Thiam Hock Kwah
Non-Executive & Independent Director14.25yrsUS$235.00k0.0079%
$ 2.1m
Siong Seng Teo
Non-Executive & Independent Director1.42yrsUS$53.33k0.00031%
$ 83.6k
Kah-Chye Tay
Non-Executive & Independent Director14.25yrsUS$255.00k0.0063%
$ 1.7m
Siong Guan Lim
Lead Independent Director1.42yrsUS$148.56kno data
Kishore Mahbubani
Non-Executive & Independent Director4.75yrsUS$175.00k0.00016%
$ 43.2k
Khoon Hua Kuok
Non-Executive & Non-Independent Director4.25yrsUS$175.00k0.011%
$ 2.9m
Guy Young
Non-Executive Director & Non-Independent Director1.83yrsUS$175.00kno data

4.5yrs

Average Tenure

66yo

Average Age

Experienced Board: F34's board of directors are considered experienced (4.5 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: F34 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

Wilmar International Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Wilmar International Limited
  • Ticker: F34
  • Exchange: SGX
  • Founded: 1991
  • Industry: Agricultural Products
  • Sector: Food, Beverage & Tobacco
  • Market Cap: S$26.969b
  • Shares outstanding: 6.36b
  • Website: https://www.wilmar-international.com

Number of Employees


Location

  • Wilmar International Limited
  • 56 Neil Road
  • Singapore
  • 88830
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
F34SGX (Singapore Exchange)YesOrdinary SharesSGSGDJul 2006
RTHADB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2006
WLMI.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 2006
WLMI.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDNov 2008

Biography

Wilmar International Limited operates as an agribusiness company in Singapore and internationally. The company operates through four segments: Tropical Oils, Oilseeds and Grains, Sugar, and Others. It enga ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/24 12:54
End of Day Share Price2020/10/23 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.