OTCPK:KPLI.F

Stock Analysis Report

Keppel Infrastructure Trust

Executive Summary

Keppel Infrastructure Trust is a listed business trust.

Rewards


Snowflake Analysis

Share Price & News

How has Keppel Infrastructure Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

KPLI.F

-1.5%

US Integrated Utilities

-4.2%

US Market


1 Year Return

n/a

KPLI.F

16.3%

US Integrated Utilities

14.0%

US Market

Return vs Industry: Insufficient data to determine how KPLI.F performed against the US Integrated Utilities industry.

Return vs Market: Insufficient data to determine how KPLI.F performed against the US Market.


Shareholder returns

KPLI.FIndustryMarket
7 Day0%-1.5%-4.2%
30 Day-5.3%0.8%-1.8%
90 Day0%6.9%2.6%
1 Yearn/a20.3%16.3%16.3%14.0%
3 Year16.1%16.1%43.7%29.3%43.2%34.0%
5 Year-5.5%-5.5%79.2%43.8%65.9%47.6%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Keppel Infrastructure Trust undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KPLI.F ($0.36) is trading below our estimate of fair value ($2.88)

Significantly Below Fair Value: KPLI.F is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: KPLI.F is poor value based on its PE Ratio (65.3x) compared to the Integrated Utilities industry average (21.3x).

PE vs Market: KPLI.F is poor value based on its PE Ratio (65.3x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: KPLI.F is poor value based on its PEG Ratio (2.5x)


Price to Book Ratio

PB vs Industry: KPLI.F is good value based on its PB Ratio (1.6x) compared to the US Integrated Utilities industry average (2.2x).

Future Growth

How is Keppel Infrastructure Trust forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

26.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KPLI.F's forecast earnings growth (26.4% per year) is above the savings rate (1.7%).

Earnings vs Market: KPLI.F's earnings (26.4% per year) are forecast to grow faster than the US market (13.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: KPLI.F's revenue (5.9% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: KPLI.F's revenue (5.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KPLI.F's Return on Equity is forecast to be low in 3 years time (4.9%).

Past Performance

How has Keppel Infrastructure Trust performed over the past 5 years?

23.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KPLI.F has high quality earnings.

Growing Profit Margin: KPLI.F's current net profit margins (2.4%) are lower than last year (5%).


Past Earnings Growth Analysis

Earnings Trend: KPLI.F has become profitable over the past 5 years, growing earnings by 23.6% per year.

Accelerating Growth: KPLI.F's earnings growth over the past year (20.5%) is below its 5-year average (23.6% per year).

Earnings vs Industry: KPLI.F earnings growth over the past year (20.5%) exceeded the Integrated Utilities industry 3.5%.


Return on Equity

High ROE: KPLI.F's Return on Equity (0.6%) is considered low.


Return on Assets


Return on Capital Employed

Financial Health

How is Keppel Infrastructure Trust's financial position?


Financial Position Analysis

Short Term Liabilities: KPLI.F's short term assets (SGD1.0B) do not cover its short term liabilities (SGD1.7B).

Long Term Liabilities: KPLI.F's short term assets (SGD1.0B) do not cover its long term liabilities (SGD1.6B).


Debt to Equity History and Analysis

Debt Level: KPLI.F's debt to equity ratio (145.8%) is considered high.

Reducing Debt: KPLI.F's debt to equity ratio has reduced from 554.1% to 145.8% over the past 5 years.

Debt Coverage: KPLI.F's debt is not well covered by operating cash flow (13.9%).

Interest Coverage: KPLI.F's interest payments on its debt are not well covered by EBIT (1.1x coverage).


Balance Sheet

Inventory Level: KPLI.F has a high level of physical assets or inventory.

Debt Coverage by Assets: KPLI.F's debt is not covered by short term assets (assets are 0.4x debt).

Dividend

What is Keppel Infrastructure Trust's current dividend yield, its reliability and sustainability?

6.95%

Current Dividend Yield


Dividend Yield vs Market

company7.0%marketbottom25%1.5%markettop25%3.8%industryaverage3.2%forecastin3Years6.9%

Current dividend yield vs market & industry

Notable Dividend: KPLI.F's dividend (6.95%) is higher than the bottom 25% of dividend payers in the US market (1.48%).

High Dividend: KPLI.F's dividend (6.95%) is in the top 25% of dividend payers in the US market (3.77%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (454%), KPLI.F's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KPLI.F's dividends in 3 years are not forecast to be well covered by earnings (185.7% payout ratio).

Management

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

1.6yrs

Average management tenure


CEO

Matthew R. Pollard (51yo)

1.6yrs

Tenure

0

Mr. Matthew R. Pollard has been Chief Executive Officer of Keppel Infrastructure Fund Management since July 01, 2018. He serves as a Director of Infrastructure - Singapore at AIM Group Limited. He also ser ...


Leadership Team

NamePositionTenureCompensationOwnership
Matthew R. Pollard
Chief Executive Officer of Keppel Infrastructure Fund Management1.6yrsno data0.0024% SGD46.0k
Eric Ng
Head of Finance - Keppel Infrastructure Fund Management Pte Ltd1.3yrsno datano data
Apurva Choudhary
Head of Investments0.9yrsno datano data
Marc Liu
Head of Asset Management - Keppel Infrastructure Fund Management Pte Ltd0yrsno datano data
Chih Chi Foo
Senior Vice President of Investment - Keppel Infrastructure Fund Management Pte Ltd0yrsno datano data
Malcolm Robert Eccles
CEO, MD & Director of Basslink Pty Ltd0yrsno datano data
Weiling Mak
Secretary of Keppel Infrastructure Fund Management Pte Ltd0yrsno datano data
Tan Chuan Huat
Chief Executive Officer of City Gas Pte Ltd3.5yrsno datano data
Esther Chua
Secretary of Keppel Infrastructure Fund Management Pte Ltd0yrsno datano data
Kwan Teo
Head-Regulations & Technical Support Div & Project Director-Special Projects Div -City Gas Pte Ltd0yrsno datano data

1.6yrs

Average Tenure

49.5yo

Average Age

Experienced Management: KPLI.F's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Malcolm Robert Eccles
CEO, MD & Director of Basslink Pty Ltd0yrsno datano data
Hock Huat Ee
Non Executive Independent Director of Keppel Infrastructure Fund Management Pte Ltd4.8yrsS$75.00k0.0016% SGD30.2k
Ban Heng Koh
Non-Executive Independent Chairman of Keppel Infrastructure Fund Management Pte Ltd0yrsS$97.00k0.0020% SGD39.0k
Kunnasagaran Chinniah
Non-Executive Independent Director of Keppel Infrastructure Fund Management Pte Ltd4.5yrsS$61.00k0.022% SGD424.2k
Kah Chong Yeo
Non-Executive Independent Director of Keppel Infrastructure Fund Management Pte Ltd4.5yrsS$76.50k0.0016% SGD30.8k
Shen Yi Thio
Non-Executive Independent Director of Keppel Infrastructure Fund Management Pte Ltd10yrsS$68.00k0.0014% SGD27.7k
Hua Mui Tan
Non-Executive & Non-Independent Director of Keppel Infrastructure Fund Management Pte Ltd3.4yrsS$53.50kno data

4.5yrs

Average Tenure

56yo

Average Age

Experienced Board: KPLI.F'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: 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 been diluted in the past year, with total shares outstanding growing by 22%.


Top Shareholders

Company Information

Keppel Infrastructure Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Keppel Infrastructure Trust
  • Ticker: KPLI.F
  • Exchange: OTCPK
  • Founded: 2007
  • Industry: Multi-Utilities
  • Sector: Utilities
  • Market Cap: S$2.672b
  • Listing Market Cap: S$1.910b
  • Shares outstanding: 4.99b
  • Website: https://www.kepinfratrust.com

Location

  • Keppel Infrastructure Trust
  • Keppel Bay Tower
  • Level 2
  • Singapore
  • 98632
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
A7RUSGX (Singapore Exchange)YesOrdinary UnitsSGSGDFeb 2007
KPLI.FOTCPK (Pink Sheets LLC)YesOrdinary UnitsUSUSDFeb 2007

Biography

Keppel Infrastructure Trust is a listed business trust. The firm provides investors with the opportunity to invest in a large and well-diversified portfolio of core infrastructure assets located in jurisdictions with well-developed legal frameworks that support infrastructure investment. It aims to provide long-term, regular and sustainable distributions to its Unitholders. Keppel Infrastructure Trust was incorporated in 2007 and is based in Singapore. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 00:55
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
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.