SGX:P34

Stock Analysis Report

Executive Summary

Delfi Limited, an investment holding company, manufactures and distributes chocolate and chocolate confectionery products in Indonesia, Singapore, Malaysia, Hong Kong, Australia, Thailand, China, the Philippines, and Other countries in Asia.

Snowflake

Fundamentals

Excellent balance sheet with proven track record.

Risks

  • Delfi is covered by less than 3 analysts.

Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-4.8%

SGX:P34

-5.4%

SG Food

-1.3%

SG Market


1 Year Return

5.3%

SGX:P34

5.4%

SG Food

-3.3%

SG Market

P34 matched the Food industry (5.4%) over the past year.

P34 outperformed the Market in Singapore which returned -3.3% over the past year.


Share holder returns

P34IndustryMarket
7 Day-4.8%-5.4%-1.3%
30 Day-7.7%-3.4%-6.7%
90 Day-4.8%1.4%-2.5%
1 Year7.5%5.3%8.4%5.4%0.5%-3.3%
3 Year-48.2%-50.6%4.1%-3.2%15.0%2.9%
5 Year-65.3%-69.6%-9.3%-19.0%7.5%-10.4%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Delfi undervalued based on future cash flows and its price relative to the stock market?

22.52x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Delfi's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Delfi's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Delfi is overvalued based on earnings compared to the SG Food industry average.

Delfi is overvalued based on earnings compared to the Singapore market.


Price Based on Expected Growth

Delfi is poor value based on expected growth next year.


Price Based on Value of Assets

Delfi is overvalued based on assets compared to the SG Food industry average.


Next Steps

Future Growth

How is Delfi expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

10.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Delfi's revenue is expected to grow by 9.7% yearly, however this is not considered high growth (20% yearly).

Delfi's earnings are expected to grow by 10.9% yearly, however this is not considered high growth (20% yearly).

Delfi's revenue growth is expected to exceed the Singapore market average.

Delfi's earnings growth is expected to exceed the Singapore market average.

Delfi's earnings growth is expected to exceed the low risk savings rate of 2.3%.


Earnings per Share Growth Estimates


Future Return on Equity

Delfi is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Delfi performed over the past 5 years?

-16.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Delfi's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.

Delfi's 1-year earnings growth exceeds its 5-year average (26.9% vs -16.4%)

Delfi's earnings growth has exceeded the SG Food industry average in the past year (26.9% vs -16.5%).


Return on Equity

Delfi has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Delfi used its assets more efficiently than the SG Food industry average last year based on Return on Assets.


Return on Capital Employed

Delfi has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Delfi's financial position?


Financial Position Analysis

Delfi is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Delfi's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Delfi's level of debt (22.2%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (18.1% vs 22.2% today).

Debt is well covered by operating cash flow (48.2%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 19.3x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 4.7x debt.


Next Steps

Dividend

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

2.89%

Expected Dividend Yield


Upcoming Dividend Payment

Purchase Delfi before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield and Payments Analysis

Delfi's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.66%).

Delfi's dividend is below the markets top 25% of dividend payers in Singapore (5.73%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.8x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

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

1.9yrs

Average management tenure


CEO

John Chuang (71yo)

14.8yrs

Tenure

Mr. Tiong Choon Chuang, also known as John, has been Group Chief Executive Officer of Delfi Limited since November 5, 2004 and serves as its Managing Director. Mr. Chuang is responsible for the overall st ...


Management Age and Tenure

1.9yrs

Average Tenure

63yo

Average Age

The average tenure for the Delfi management team is less than 2 years, this suggests a new team.


Board Age and Tenure

18.2yrs

Average Tenure

61yo

Average Age

The average tenure for the Delfi board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


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Ownership Breakdown


Management Team

  • SB Lim (66yo)

    Chief of Quality Assurance

    • Tenure: 0.5yrs
  • Joseph Chuang (68yo)

    Group Chief Growth & Marketing Officer and Executive Director

  • Nancy Florensia (60yo)

    President Director & Director of Finance - PT Perusahaan Industri Ceres

    • Tenure: 1.9yrs
  • William Chuang (60yo)

    Business Development Director & Executive Director

  • John Chuang (71yo)

    Group CEO

    • Tenure: 14.8yrs
  • Yok Chuang (69yo)

    Company Secretary

    • Tenure: 35.6yrs
  • Mike Wynne (54yo)

    Chief of Manufacturing

    • Tenure: 0.5yrs
  • Alan Koo (48yo)

    Group Chief Financial Officer

    • Tenure: 0.9yrs
  • Raymond Lam

    Company Secretary

    • Tenure: 3.6yrs

Board Members

  • Poh Tiong Koh (73yo)

    Independent Non-Executive Director

    • Tenure: 7.7yrs
    • Compensation: $115.31k
  • Joseph Chuang (68yo)

    Group Chief Growth & Marketing Officer and Executive Director

    • Tenure: 20.4yrs
  • Nancy Florensia (60yo)

    President Director & Director of Finance - PT Perusahaan Industri Ceres

  • William Chuang (60yo)

    Business Development Director & Executive Director

    • Tenure: 18.3yrs
  • John Chuang (71yo)

    Group CEO

    • Tenure: 29.8yrs
  • Pedro Francisco Mata-Bruckmann (75yo)

    Chairman

    • Tenure: 18.2yrs
    • Compensation: $197.86k
  • Nandu Nandkishore (61yo)

    Independent Non-Executive Director

    • Tenure: 2.6yrs
    • Compensation: $102.45k
  • Mike Dean (59yo)

    Independent Non-Executive Director

    • Tenure: 14.3yrs
    • Compensation: $167.22k
  • Davinder Singh (61yo)

    Non-Independent Director

    • Tenure: 18.2yrs
    • Compensation: $74.60k

Company Information

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


Key Information

  • Name: Delfi Limited
  • Ticker: P34
  • Exchange: SGX
  • Founded: 1984
  • Industry: packaged foods and meats
  • Sector: food, beverage & tobacco
  • Market Cap: S$733.388m
  • Shares outstanding: 611.16m
  • Website: Click here

Number of Employees


Location

  • Delfi Limited
  • TripleOne Somerset
  • No. 12-03, 111 Somerset Road
  • Singapore
  • 238164
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
P34SGX (Singapore Exchange)YesOrdinary SharesSGSGDNov 2004
PEFD.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 2004

Biography

Delfi Limited, an investment holding company, manufactures and distributes chocolate and chocolate confectionery products in Indonesia, Singapore, Malaysia, Hong Kong, Australia, Thailand, China, the Phili ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/17 12:34
End of Day Share Price2019/08/16 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.