SGX:F99

Stock Analysis Report

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Executive Summary

Fraser and Neave, Limited engages in the food and beverage, and publishing and printing businesses in Singapore, Malaysia, Thailand, Vietnam, and internationally. More Details


Snowflake Analysis

Mediocre balance sheet and slightly overvalued.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: F99 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.6%

F99

-4.2%

SG Food

-0.5%

SG Market


1 Year Return

-29.8%

F99

8.8%

SG Food

-20.7%

SG Market

Return vs Industry: F99 underperformed the SG Food industry which returned 8.8% over the past year.

Return vs Market: F99 underperformed the SG Market which returned -20.7% over the past year.


Shareholder returns

F99IndustryMarket
7 Day-1.6%-4.2%-0.5%
30 Day-4.8%0.1%0.9%
90 Day-13.7%-0.3%-3.2%
1 Year-27.4%-29.8%12.4%8.8%-16.4%-20.7%
3 Year-49.1%-52.9%5.0%-3.9%-19.5%-29.3%
5 Year-37.5%-44.7%10.6%-3.0%-6.6%-23.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

12.32x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: F99 (SGD1.2) is trading above our estimate of fair value (SGD1.14)

Significantly Below Fair Value: F99 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: F99 is poor value based on its PE Ratio (12.3x) compared to the SG Food industry average (9.7x).

PE vs Market: F99 is good value based on its PE Ratio (12.3x) compared to the SG market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate F99's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: F99 is good value based on its PB Ratio (0.6x) compared to the SG Food industry average (0.8x).


Next Steps

Future Growth

How is Fraser and Neave forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

9.1%

Forecasted Food, Beverage & Tobacco industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Fraser and Neave has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Fraser and Neave performed over the past 5 years?

5.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: F99 has high quality earnings.

Growing Profit Margin: F99's current net profit margins (7.6%) are lower than last year (8.1%).


Past Earnings Growth Analysis

Earnings Trend: F99 has become profitable over the past 5 years, growing earnings by 5% per year.

Accelerating Growth: F99's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: F99 had negative earnings growth (-11.1%) over the past year, making it difficult to compare to the Food industry average (10.4%).


Return on Equity

High ROE: F99's Return on Equity (6%) is considered low.


Next Steps

Financial Health

How is Fraser and Neave's financial position?


Financial Position Analysis

Short Term Liabilities: F99's short term assets (SGD895.7M) do not cover its short term liabilities (SGD1.3B).

Long Term Liabilities: F99's short term assets (SGD895.7M) exceed its long term liabilities (SGD99.4M).


Debt to Equity History and Analysis

Debt Level: F99's debt to equity ratio (26.5%) is considered satisfactory.

Reducing Debt: F99's debt to equity ratio has increased from 8% to 26.5% over the past 5 years.

Debt Coverage: F99's debt is not well covered by operating cash flow (9.6%).

Interest Coverage: F99's interest payments on its debt are well covered by EBIT (10.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Fraser and Neave current dividend yield, its reliability and sustainability?

4.58%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: F99's dividend (4.58%) is higher than the bottom 25% of dividend payers in the SG market (2.51%).

High Dividend: F99's dividend (4.58%) is low compared to the top 25% of dividend payers in the SG market (5.28%).


Stability and Growth of Payments

Stable Dividend: F99's dividend payments have been volatile in the past 10 years.

Growing Dividend: F99's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (56.5%), F99's dividend payments are 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

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

5.6yrs

Average management tenure


CEO

Tat Meng Lee (57 yo)

5.42yrs

Tenure

S$1,275,378

Compensation

Mr. Tat Meng Lee has been Non-Executive Director of Vietnam Dairy Products Joint Stock Company since September 1, 2016. Mr. Lee has been the Chief Executive Officer of Non-Alcoholic Beverages of Fraser & N ...


CEO Compensation Analysis

Compensation vs Market: Tat Meng's total compensation ($USD0.00) is below average for companies of similar size in the SG market ($USD1.67M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Poh Tiong Koh
Non-Executive & Non-Independent Director and Adviser to the Board7.5yrsS$2.13m0.017%
SGD 301.6k
Choon Kit Hui
CFO & Company Secretary8yrsS$1.04mno data
Jennifer Yu
Head of Investor Relationsno datano datano data
Josephine Woo
First Vice President of Group Human Captialno datano datano data
Tat Meng Lee
Chief Executive Officer of Non-Alcoholic Beverages5.42yrsS$1.28mno data
Peng Yap
Head of Research & Developmentno datano datano data
Vivek Chhabra
Head of Mergers & Acquisitions0.83yrno datano data
Kim Neo
Chief Executive Officer of Beer4yrsno datano data
Peng Yim Siew
Chief Executive Officer of Times Publishing Group6yrsS$662.86kno data
Yew Hoe Lim
Chief Executive Officer of Fraser & Neave Holdings Bhd5.83yrsS$1.19mno data
Kah Shen Lai
Financial Controller of F&B Divisionno datano datano data

5.6yrs

Average Tenure

55yo

Average Age

Experienced Management: F99's management team is seasoned and experienced (5.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Poh Tiong Koh
Non-Executive & Non-Independent Director and Adviser to the Board7.5yrsS$2.13m0.017%
SGD 301.6k
Chee Ming Chia
Non-Executive & Independent Director6.75yrsS$144.00kno data
Siripen Sitasuwan
Non-Executive & Independent Director7.42yrsS$174.00kno data
Syed Badarudin Jamalullail Ibni A. Tuanku Syed Putra Jamalullail
Lead Independent & Non-Executive Director5.42yrsS$134.00kno data
Charoen Sirivadhanabhakdi
Non-Executive & Non-Independent Chairman7.67yrsno datano data
Thapana Sirivadhanabhakdi
Non-Independent & Non-Executive Director7.67yrsS$162.00kno data
Sithichai Chaikriangkrai
Non-Executive & Non-Independent Director7.67yrsS$157.00kno data
Khunying Wanna Sirivadhanabhakdi
Non-Independent & Non-Executive Vice-Chairman7.67yrsno datano data
Chotiphat Bijananda
Non-Executive & Non-Independent Director7.67yrsS$80.00kno data
Prapakon Thongtheppairot
Alternate Director7.58yrsS$44.00kno data
Heng Wing Chan
Independent & Non-Executive Director2.75yrsS$79.00kno data
Ming Ying Mak
Independent & Non-Executive Director2.75yrsS$80.00kno data

7.5yrs

Average Tenure

70.5yo

Average Age

Experienced Board: F99's board of directors are considered experienced (7.5 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.


Ownership Breakdown

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


Top Shareholders

Company Information

Fraser and Neave, Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fraser and Neave, Limited
  • Ticker: F99
  • Exchange: SGX
  • Founded: 1883
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Market Cap: S$1.740b
  • Shares outstanding: 1.45b
  • Website: https://www.fraserandneave.com

Number of Employees


Location

  • Fraser and Neave, Limited
  • No. 20-00 Alexandra Point
  • 438 Alexandra Road
  • Singapore
  • 119958
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FNEV.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1981
F99SGX (Singapore Exchange)YesOrdinary SharesSGSGDJan 1981
FNV2DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1981
FNV1XTRA (XETRA Trading Platform)YesOrdinary SharesDEEURJan 1981
FNEV.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDNov 2008

Biography

Fraser and Neave, Limited engages in the food and beverage, and publishing and printing businesses in Singapore, Malaysia, Thailand, Vietnam, and internationally. The company operates through Beverages, Da ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/20 12:35
End of Day Share Price2020/10/20 00:00
Earnings2020/06/30
Annual Earnings2019/09/30


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.