SGX:AP4

Stock Analysis Report

Riverstone Holdings

Executive Summary

Riverstone Holdings Limited, an investment holding company, manufactures and distributes cleanroom and healthcare gloves in Malaysia.

Snowflake

Fundamentals

Excellent balance sheet with moderate growth potential.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

SGX:AP4

4.2%

SG Medical Equipment

0.08%

SG Market


1 Year Return

-18.3%

SGX:AP4

-9.4%

SG Medical Equipment

-2.6%

SG Market

AP4 underperformed the Medical Equipment industry which returned -7.1% over the past year.

AP4 underperformed the Market in Singapore which returned -2.7% over the past year.


Share holder returns

AP4IndustryMarket
7 Day0%4.2%0.08%
30 Day0%-0.3%-6.3%
90 Day-3.2%0.1%-1.4%
1 Year-16.6%-18.3%-8.4%-9.4%1.2%-2.6%
3 Year9.9%2.8%7.4%3.8%15.8%3.5%
5 Year116.0%92.6%-8.3%-13.0%8.2%-9.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

15.99x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

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

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


Price Based on Earnings

Riverstone Holdings is overvalued based on earnings compared to the Asia Medical Equipment industry average.

Riverstone Holdings is overvalued based on earnings compared to the Singapore market.


Price Based on Expected Growth

Riverstone Holdings is poor value based on expected growth next year.


Price Based on Value of Assets

Riverstone Holdings is overvalued based on assets compared to the Asia Medical Equipment industry average.


Next Steps

Future Growth

How is Riverstone Holdings expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

8.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Riverstone Holdings's revenue is expected to grow by 14.6% yearly, however this is not considered high growth (20% yearly).

Riverstone Holdings's earnings are expected to grow by 8.8% yearly, however this is not considered high growth (20% yearly).

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

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

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


Earnings per Share Growth Estimates


Future Return on Equity

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


Next Steps

Past Performance

How has Riverstone Holdings performed over the past 5 years?

10.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Riverstone Holdings's year on year earnings growth rate has been positive over the past 5 years.

Riverstone Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Riverstone Holdings's 1-year earnings growth is negative, it can't be compared to the Asia Medical Equipment industry average.


Return on Equity

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


Return on Assets

Riverstone Holdings used its assets more efficiently than the Asia Medical Equipment industry average last year based on Return on Assets.


Return on Capital Employed

Riverstone Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Riverstone Holdings's financial position?


Financial Position Analysis

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

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


Debt to Equity History and Analysis

Riverstone Holdings's level of debt (2.2%) compared to net worth is satisfactory (less than 40%).

Unable to establish if Riverstone Holdings's debt level has increased without past 5-year debt data.

Debt is well covered by operating cash flow (1066.3%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 217.8x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 21.4x debt.


Next Steps

Dividend

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

2.88%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Riverstone Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.64%).

Riverstone Holdings's dividend is below the markets top 25% of dividend payers in Singapore (5.74%).

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

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.4x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).


Next Steps

Management

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

3.3yrs

Average management tenure


CEO

Teek Wong (57yo)

14.0yrs

Tenure

0

Mr. Teek Son Wong is a Co-Founder of Riverstone Holdings Ltd. and has been its Chief Executive Officer since August 3, 2005. Mr. Wong has been Executive Chairman of Riverstone Holdings Ltd. since August 3, ...


Management Age and Tenure

3.3yrs

Average Tenure

52yo

Average Age

The tenure for the Riverstone Holdings management team is about average.


Board Age and Tenure

12.8yrs

Average Tenure

52yo

Average Age

The average tenure for the Riverstone Holdings 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.


Ownership Breakdown


Management Team

  • Heng Chee (52yo)

    Sales Manager of Riverstone Resources (S) Pte Ltd. and Director of Riverstone Resources (S) Pte Ltd.

    • Tenure: 0.0yrs
  • Teek Wong (57yo)

    Co-Founder

    • Tenure: 14.0yrs
  • Sing Lim (55yo)

    General Manager

    • Tenure: 2.6yrs
  • Wai Lee (49yo)

    Co-Founder

    • Tenure: 14.0yrs
  • Lai Yin Chan

    Joint Company Secretary

    • Tenure: 0.0yrs
  • Wang Tan (44yo)

    Chief Financial Officer

    • Tenure: 3.0yrs
  • Pay Lee Lee

    Secretary

    • Tenure: 3.7yrs

Board Members

  • Damian Hong (71yo)

    Independent Non-Executive Director

    • Tenure: 12.8yrs
  • Weng Keong Low (67yo)

    Lead Independent Non-Executive Director

    • Tenure: 0.0yrs
  • Albert Ho (52yo)

    Independent Non-Executive Director

    • Tenure: 12.8yrs
  • Heng Chee (52yo)

    Sales Manager of Riverstone Resources (S) Pte Ltd. and Director of Riverstone Resources (S) Pte Ltd.

    • Tenure: 0.0yrs
  • Teek Wong (57yo)

    Co-Founder

    • Tenure: 14.0yrs
  • Teck Wong (46yo)

    Former Executive Director

    • Tenure: 0.3yrs
  • Wai Lee (49yo)

    Co-Founder

    • Tenure: 14.0yrs

Company Information

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


Key Information

  • Name: Riverstone Holdings Limited
  • Ticker: AP4
  • Exchange: SGX
  • Founded: 1989
  • Industry: Health Care Supplies
  • Sector: Healthcare
  • Market Cap: S$674.386m
  • Shares outstanding: 741.08m
  • Website: https://www.riverstone.com.my

Number of Employees


Location

  • Riverstone Holdings Limited
  • No. 03-14 Da Jin Factory Building
  • 362 Upper Paya Lebar Road
  • Singapore
  • 534963
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AP4SGX (Singapore Exchange)YesOrdinary SharesSGSGDNov 2006

Biography

Riverstone Holdings Limited, an investment holding company, manufactures and distributes cleanroom and healthcare gloves in Malaysia. The company offers cleanroom finger cots, packaging bags, facemasks, an ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/20 12:40
End of Day Share Price2019/08/20 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.