Halcyon Agri Corp. Ltd. (5VJ) AI Stock Analysis

• Market Cap: €653.95M
• Dividend Yield: N/A
• Average Volume (3M): 0.00
• Price to Earnings (P/E): ―
• Beta (1Y): 0.00
• Revenue Growth: 29.98%
• EPS Growth: 61.13%
• Country: SG
• Employees: 15,000
• Sector: Basic Materials
• Sector Strength: 73
• Industry: Chemicals - Specialty
• EPS (TTM): >-0.01
• Shares Outstanding: 1,595,012,000
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 0
• PEG Ratio: -0.67
• Price to Book (P/B): 1.26
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.62
• Enterprise Value/Market Cap: 2.58
• Enterprise Value/Revenue: 0.10
• Enterprise Value/Gross Profit: 8.82
• Enterprise Value/Ebitda: 7.69
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 51 Neutral
• Price Target: ―

Halcyon Agri Corp. Ltd. demonstrates strong revenue growth but struggles with profitability and cash flow management, leading to financial instability. The technical analysis shows no clear market momentum, while valuation metrics highlight unattractive investment prospects due to negative earnings and lack of dividends. Strategic financial improvements are essential for long-term viability.

Halcyon Agri Corp. Ltd. Business Overview & Revenue Model

Company Description

Halcyon Agri Corporation Limited, an investment holding company, originates, produces, and distributes natural rubber products in Singapore, China, the United States, Canada, Europe, rest of Asia, and internationally. It operates through Corrie MacColl Group; HRC Group; and Corporate segments. The company processes and produces crumb rubber and latex, as well as constant viscosity rubber products; and owns rubber plantations that covers an area of approximately 110,000 hectares of land in Malaysia, Cameroon, and Ivory Coast. It provides its natural rubber primarily under the HeveaPRO brand, as well as procures other origins and grades of rubber from third party producers. The company offers its products for use in tires, shoe soles, medical gloves, seals, gaskets, and other applications through a network of logistics assets, storage and terminals, laboratories, and sales offices. It is also involved in trading and distribution of natural rubber, latex, and synthetic rubber; and manufactures and distributes plastic products, as well as operates oil palm plantations. The company was founded in 1934 and is headquartered in Singapore. Halcyon Agri Corporation Limited is a subsidiary of Sinochem International (Overseas) Pte. Ltd.

How the Company Makes Money

Halcyon Agri Corp. Ltd. generates revenue primarily through the sale of processed natural rubber products. The company sources raw rubber from plantations and smallholders, processes it in its facilities, and sells it to manufacturers in various sectors, including automotive, healthcare, and consumer goods. Key revenue streams include the sale of technically specified rubber (TSR), ribbed smoked sheets (RSS), and latex concentrates. Additionally, strategic partnerships with major tire manufacturers and long-term supply agreements contribute significantly to its earnings by ensuring steady demand and pricing stability. The company's global presence and logistics capabilities further enhance its ability to meet customer needs efficiently, driving revenue growth.

Halcyon Agri Corp. Ltd. Financial Statement Overview

Summary

Halcyon Agri Corp. Ltd. shows strong revenue growth but faces significant challenges in profitability and cash flow. High leverage and negative profitability, along with cash flow constraints, highlight the need for strategic improvements in cost management, debt reduction, and cash flow generation.

Income Statement

Halcyon Agri Corp. Ltd. shows a strong revenue growth of 30.9% from 2023 to 2024, indicating positive sales momentum. The gross profit margin stands at 5.0% for 2024, a slight improvement from previous years, but the company remains unprofitable at the net level with a net profit margin of -0.8%. The EBIT margin improved significantly to 1.3% from negative in 2023, showing operational improvements. However, the negative net income and low profitability margins indicate challenges in cost management and achieving sustainable profitability.

Balance Sheet

The debt-to-equity ratio is high at 2.56 for 2024, indicating significant leverage which could pose financial risk if not managed carefully. The equity ratio is 23.4%, reflecting moderate reliance on equity financing. Return on Equity (ROE) remains negative due to net losses, indicating inefficiencies in generating returns from shareholders' equity. The balance sheet reflects financial stability challenges with a need for improved equity financing or debt reduction.

Cash Flow

Operating cash flow turned negative in 2024 at -86.8 million, indicating issues in cash generation from core operations. Free cash flow also deteriorated significantly to -110.2 million, raising concerns over liquidity and the ability to fund operations without external financing. The negative free cash flow to net income ratio further highlights inefficiencies in converting income to cash. The cash flow statement suggests a need for strategic improvement in cash management and operational efficiency.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.80B	2.90B	2.69B	2.46B	1.71B
Gross Profit	190.93M	146.17M	170.81M	162.87M	101.57M
EBITDA	82.61M	13.47M	61.10M	67.00M	7.58M
Net Income	-29.14M	-87.02M	-17.97M	11.55M	-53.78M
Balance Sheet
Total Assets	2.09B	1.97B	2.02B	2.06B	1.96B
Cash, Cash Equivalents and Short-Term Investments	83.65M	48.29M	121.07M	33.40M	43.89M
Total Debt	1.26B	1.11B	1.14B	1.10B	1.02B
Total Liabilities	1.58B	1.40B	1.36B	1.34B	1.21B
Stockholders Equity	490.93M	540.87M	629.83M	694.45M	727.71M
Cash Flow
Free Cash Flow	-110.22M	5.36M	43.31M	-61.66M	-66.19M
Operating Cash Flow	-86.81M	28.16M	69.63M	-33.56M	-21.76M
Investing Cash Flow	18.22M	16.35M	5.35M	-18.71M	-48.67M
Financing Cash Flow	104.53M	-115.14M	12.16M	41.80M	56.72M

Halcyon Agri Corp. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
QES	79 Outperform	S$659.94M	8.20	10.37%	2.96%	-1.37%	12.13%
Sector *	59 Neutral	HK$17.74B	4.73	-5.52%	3.33%	-3.57%	-61.41%
5VJ	51 Neutral	€653.95M	―		―	29.98%	61.13%
5DS	―	S$53.32M	6.75	14.57%	2.50%	―	―
C8R	41 Neutral	S$53.69M	―	-21.30%	―	-60.43%	57.93%
N02	―	S$278.30M	13.09	7.50%	56.38%	―	―
P52	71 Outperform	S$720.76M	17.61	16.44%	2.34%	4.93%	12.48%

Halcyon Agri Corp. Ltd. Corporate Events

Halcyon Agri Corporation Holds Smooth AGM, Votes on Key Resolutions

Halcyon Agri Corporation Limited held its Annual General Meeting on April 28, 2025, chaired by Independent Director Mr. Eddie Chan Yean Hoe. The meeting included a business review presentation by the Chief Financial Officer and involved voting on eight resolutions via a poll, with proxy votes managed by the Chairman. The AGM proceeded smoothly without any questions from shareholders, indicating a well-prepared and organized meeting.