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Halcyon Agri Corp. Ltd.
(SGX:5VJ)
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Rating:45Neutral
Price Target:
S$0.40
▼(-2.44% Downside)
Action:Upgraded
Date:07/01/26
The score is held down primarily by weak financial performance—thin/volatile profitability, a sharp 2025 revenue decline, and materially higher leverage with shrinking equity—despite a meaningful 2025 improvement in free cash flow. Technicals are neutral (price aligned with major moving averages), while valuation is constrained by loss-making results and a negative P/E.
Positive Factors
Improved cash generation (2025)
A material improvement to positive operating cash flow (~$83m) and free cash flow (~$74m) in 2025 enhances near-term liquidity and provides a practical source to service debt or fund operations. If sustained, stronger FCF supports deleveraging and operational flexibility across cycles.
Negative Factors
Elevated leverage and shrinking equity
Very high debt-to-equity (~5.7) and a halving of equity materially reduce financial flexibility and amplify downside risk. In a cyclical commodity business this increases refinancing risk and constrains capital allocation, making the firm more sensitive to downturns and margin pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation (2025)
A material improvement to positive operating cash flow (~$83m) and free cash flow (~$74m) in 2025 enhances near-term liquidity and provides a practical source to service debt or fund operations. If sustained, stronger FCF supports deleveraging and operational flexibility across cycles.
Read all positive factors
Halcyon Agri Corp. Ltd. (5VJ) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$653.95M
Dividend YieldN/A
Average Volume (3M)0.00
Price to Earnings (P/E)―
Beta (1Y)N/A
Revenue Growth-14.85%
EPS Growth-155.34%
CountrySG
Employees15,000
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-0.02
Shares Outstanding1,595,012,000
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)2.07
Price to Sales (P/S)0.17
P/FCF Ratio6.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Halcyon Agri Corp. Ltd. Business Overview & Revenue Model
Company Description
Halcyon Agri Corporation Ltd. is an investment holding company focused on the global procurement, processing, and sale of natural rubber products. Its expansive operations reach Singapore, China, North America (USA, Canada), Europe, and other part...
How the Company Makes Money
Halcyon Agri generates revenue primarily from the sale of natural rubber and related rubber products to industrial customers. Key revenue streams typically come from (1) processing: converting sourced raw rubber into higher-value processed rubber ...
Halcyon Agri Corp. Ltd. Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
18
Very Negative
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.03B | 3.01B | 3.80B | 2.90B | 2.69B | 2.46B |
| Gross Profit | 162.43M | 108.49M | 190.93M | 146.17M | 170.81M | 162.87M |
| EBITDA | 58.42M | 8.14M | 82.61M | 13.47M | 76.82M | 75.70M |
| Net Income | -49.44M | -90.09M | -29.14M | -87.02M | -17.97M | 11.55M |
Balance Sheet | ||||||
| Total Assets | 2.04B | 1.92B | 2.09B | 1.97B | 2.02B | 2.06B |
| Cash, Cash Equivalents and Short-Term Investments | 129.37M | 58.70M | 83.65M | 48.29M | 121.07M | 33.40M |
| Total Debt | 1.25B | 1.39B | 1.26B | 1.11B | 1.14B | 1.10B |
| Total Liabilities | 1.53B | 1.66B | 1.58B | 1.40B | 1.36B | 1.34B |
| Stockholders Equity | 486.62M | 245.73M | 490.93M | 540.87M | 629.83M | 694.45M |
Cash Flow | ||||||
| Free Cash Flow | 54.86M | 74.34M | -110.22M | 5.36M | 43.31M | -61.66M |
| Operating Cash Flow | 73.02M | 82.99M | -86.81M | 28.16M | 69.63M | -33.56M |
| Investing Cash Flow | -18.81M | -7.31M | 18.22M | 16.35M | 5.35M | -18.71M |
| Financing Cash Flow | 10.02M | -103.55M | 104.53M | -115.14M | 12.16M | 41.80M |
Halcyon Agri Corp. Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | S$650.23M | 8.15 | 9.20% | 4.40% | -8.74% | -6.08% | |
68 Neutral | S$1.15B | 11.59 | 8.57% | 4.77% | 22.92% | 7.37% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | S$40.25M | -3.71 | -19.55% | 0.92% | -7.25% | 95.72% | |
45 Neutral | S$653.95M | -11.02 | ― | ― | -14.85% | -155.34% | |
44 Neutral | S$41.76M | -0.92 | -33.12% | ― | -54.41% | -10.14% |
* General Sector Average
SG:5VJ
Halcyon Agri Corp. Ltd.
0.41
0.00
0.00%
SG:QES
China Sunsine Chemical Holdings Ltd.
0.67
0.05
8.77%
SG:C05
Chemical Industries Far East Ltd.
0.53
0.04
8.16%
SG:BEC
BRC Asia Limited
4.19
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23.49%
SG:5DS
MegaChem Ltd.
0.49
0.10
25.32%
SG:C8R
Jiutian Chemical Group Limited
0.02
>-0.01
-25.00%
Halcyon Agri Corp. Ltd. Corporate Events
Halcyon Agri Cleared to Use Net Asset Value for SGX Materiality Thresholds
Jun 19, 2026
Halcyon Agri Corporation has announced that, because its group net tangible assets stood at approximately negative US$41.3 million as of 31 December 2025, it sought guidance from the Singapore Exchange on how to calculate materiality thresholds un...
Halcyon Agri Shareholders Clear All AGM Resolutions, Renew IPT Mandate
Jun 17, 2026
Shareholders of Halcyon Agri Corporation Limited approved all seven resolutions at the annual general meeting held in Singapore on 22 May 2026. The meeting saw the adoption of the audited financial statements for the year ended 31 December 2025, a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.