OTCPK:GARP.F

Stock Analysis Report

Executive Summary

Golden Agri-Resources Ltd, an investment holding company, operates as an integrated palm oil plantation company in China, Indonesia, India, Rest of Asia, Europe, and internationally.

Snowflake

Fundamentals

Reasonable growth potential and fair value.


Similar Companies

Share Price & News

How has Golden Agri-Resources's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

9.8%

OTCPK:GARP.F

0.6%

US Food

-1.2%

US Market


1 Year Return

n/a

OTCPK:GARP.F

1.8%

US Food

3.3%

US Market

No trading data on GARP.F.

No trading data on GARP.F.


Share holder returns

GARP.FIndustryMarket
7 Day9.8%0.6%-1.2%
30 Day9.8%0.7%0.8%
90 Dayn/a2.9%0.9%
1 Yearn/a4.8%1.8%5.6%3.3%
3 Yearn/a-8.4%-16.1%45.4%35.9%
5 Year-51.1%-51.1%38.6%22.3%59.4%41.7%

Price Volatility Vs. Market

How volatile is Golden Agri-Resources's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Golden Agri-Resources undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Golden Agri-Resources's share price is below the future cash flow value, and at a moderate discount (> 20%).

Golden Agri-Resources's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Golden Agri-Resources is overvalued based on earnings compared to the US Food industry average.

Golden Agri-Resources is overvalued based on earnings compared to the United States of America market.


Price Based on Expected Growth

Golden Agri-Resources is poor value based on expected growth next year.


Price Based on Value of Assets

Golden Agri-Resources is good value based on assets compared to the US Food industry average.


Next Steps

Future Growth

How is Golden Agri-Resources expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

25.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Golden Agri-Resources's revenue is expected to grow by 9.3% yearly, however this is not considered high growth (20% yearly).

Golden Agri-Resources's earnings are expected to grow significantly at over 20% yearly.

Golden Agri-Resources's revenue growth is expected to exceed the United States of America market average.

Golden Agri-Resources's earnings growth is expected to exceed the United States of America market average.

Golden Agri-Resources's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

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


Next Steps

Past Performance

How has Golden Agri-Resources performed over the past 5 years?

-22.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

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

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

Golden Agri-Resources's 1-year earnings growth is negative, it can't be compared to the US Food industry average.


Return on Equity

Golden Agri-Resources has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Golden Agri-Resources used its assets less efficiently than the US Food industry average last year based on Return on Assets.


Return on Capital Employed

Golden Agri-Resources's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Golden Agri-Resources's financial position?


Financial Position Analysis

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

Golden Agri-Resources's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Golden Agri-Resources's level of debt (68.7%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (29.1% vs 68.7% today).

Debt is not well covered by operating cash flow (16.3%, less than 20% of total debt).

Interest payments on debt are not well covered by earnings (EBIT is 1x annual interest expense, ideally 3x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.9x debt.


Next Steps

Dividend

What is Golden Agri-Resources's current dividend yield, its reliability and sustainability?

1.61%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Golden Agri-Resources's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).

Golden Agri-Resources's dividend is below the markets top 25% of dividend payers in United States of America (3.78%).

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 not well covered by earnings (0.1x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).


Next Steps

Management

What is the CEO of Golden Agri-Resources's salary, the management and board of directors tenure and is there insider trading?

13.5yrs

Average management tenure


CEO

Franky Widjaja (61yo)

23.5yrs

Tenure

Mr. Franky Oesman Widjaja has been the Chief Executive Officer and Executive Director of Golden Agri-resources Ltd since 1996. Mr. Widjaja serves as the Head of the Agri-Business and Consumer Food Products ...


Management Age and Tenure

13.5yrs

Average Tenure

56yo

Average Age

The average tenure for the Golden Agri-Resources management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

9.2yrs

Average Tenure

65yo

Average Age

The tenure for the Golden Agri-Resources board of directors is about average.


Insider Trading

No 3 month individual insider trading information.


Recent Insider Transactions

SellUS$547,457,25013 Dec 18
PT Sinar Mas Group
EntityCompany
Shares750,000,000
Max PriceUS$0.73
BuyUS$547,457,25013 Dec 18
PT Sinar Mas Group
EntityCompany
Shares750,000,000
Max PriceUS$0.73
SellUS$512,982,40014 Aug 18
PT Sinar Mas Group
EntityCompany
Shares700,000,000
Max PriceUS$0.73
BuyUS$512,982,40014 Aug 18
PT Sinar Mas Group
EntityCompany
Shares700,000,000
Max PriceUS$0.73
BuyUS$805,17310 Aug 18
Silchester International Investors LLP
EntityCompany
Shares3,922,200
Max PriceUS$0.21

Ownership Breakdown


Management Team

  • Khoo Yeow

    Chief Information Officer

  • Harjanto Tanuwidjaja

    Chief Human Resources Officer

  • Richard Fung

    Director of Investor Relations

  • Anita Neville

    Vice President of Corporate Communications & Sustainability Relations

  • Pedy Harianto

    Head of Controllership & Compliance

  • Franky Widjaja (61yo)

    Chairman & CEO

    • Tenure: 23.5yrs
  • Paul Hickman (53yo)

    Head of Global Vegetable Oils & Oilseeds

    • Tenure: 7.5yrs
  • Hemant Bhatt (56yo)

    Head of Downstream & Commercial

  • Rafael Concepcion (52yo)

    CFO & Executive Director

    • Tenure: 6.5yrs
  • Muktar Widjaja (65yo)

    President & Executive Director

    • Tenure: 19.5yrs

Board Members

  • Syn Pau Lew (65yo)

    Non-Executive Lead Independent Director

    • Tenure: 2.2yrs
  • Meng-Kee Foo (69yo)

    Non-Executive Independent Director

    • Tenure: 2.3yrs
  • Rafael Concepcion (52yo)

    CFO & Executive Director

    • Tenure: 16.9yrs
  • Franky Widjaja (61yo)

    Chairman & CEO

    • Tenure: 19.5yrs
  • Muktar Widjaja (65yo)

    President & Executive Director

    • Tenure: 20.5yrs
  • Kaneyalall Hawabhay (71yo)

    Independent Non-Executive Director

    • Tenure: 16.2yrs
  • William Chung (62yo)

    Non-Executive Independent Director

    • Tenure: 2.3yrs
  • Christian G. H. de Charnace

    Non-Executive Independent Director

    • Tenure: 0.7yrs

Company Information

Golden Agri-Resources Ltd's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Golden Agri-Resources Ltd
  • Ticker: GARP.F
  • Exchange: OTCPK
  • Founded: 1996
  • Industry: agricultural products
  • Sector: food, beverage & tobacco
  • Market Cap: S$3.820b
  • Listing Market Cap: S$2.809b
  • Shares outstanding: 12.73b
  • Website: Click here

Number of Employees


Location

  • Golden Agri-Resources Ltd
  • No. 06-00 Golden agri Plaza
  • 108 Pasir Panjang Road
  • Singapore
  • 118535
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GARP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 1999
E5HSGX (Singapore Exchange)YesOrdinary SharesSGSGDJul 1999
4G3ADB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 1999
GARP.YOTCPK (Pink Sheets LLC)ADRUSUSDNov 2008

Biography

Golden Agri-Resources Ltd, an investment holding company, operates as an integrated palm oil plantation company in China, Indonesia, India, Rest of Asia, Europe, and internationally. It operates in two seg ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/07/22 03:04
End of Day Share Price2019/07/19 00:00
Earnings2019/03/31
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.