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Bonvests Holdings Limited
(SGX:B28)
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Rating:63Neutral
Price Target:
S$1.00
â–²(4.17% Upside)
Action:Reiterated
Date:08/04/26
The score is driven primarily by stable (but not high-quality) financial performance—healthy operating profitability and moderate leverage are offset by volatile net income and a notable 2025 free-cash-flow decline. Technicals are mildly supportive with the price above major moving averages, but valuation is only fair-to-stretched given a ~20x P/E and a modest ~1.22% dividend yield.
Positive Factors
Healthy EBITDA margins
Consistently healthy EBITDA margins indicate the core property and hospitality operations generate robust operating profitability. That margin cushion helps absorb revenue swings, supports ability to fund maintenance and reinvestment, and underpins long-term cash generation resilience.
Negative Factors
Volatile net income
Large swings in net income reduce earnings predictability and make dividend and capital-allocation planning harder. For a firm reliant on property sales and hospitality cycles, earnings volatility increases operational and financial planning risk across development timelines and investor expectations.
Read all positive and negative factors
Positive Factors
Negative Factors
Healthy EBITDA margins
Consistently healthy EBITDA margins indicate the core property and hospitality operations generate robust operating profitability. That margin cushion helps absorb revenue swings, supports ability to fund maintenance and reinvestment, and underpins long-term cash generation resilience.
Read all positive factors
Bonvests Holdings Limited (B28) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$393.49M
Dividend Yield1.22%
Average Volume (3M)4.43K
Price to Earnings (P/E)20.3
Beta (1Y)0.39
Revenue Growth1.78%
EPS Growth927.66%
CountrySG
Employees2,017
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Lodging
Share Statistics
EPS (TTM)0.05
Shares Outstanding401,516,970
10 Day Avg. Volume3,460
30 Day Avg. Volume4,433
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.46
Price to Sales (P/S)1.69
P/FCF Ratio17.49
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
Bonvests Holdings Limited Business Overview & Revenue Model
Company Description
Bonvests Holdings Limited operates as an investment holding company, engaging in a broad spectrum of activities. Its core businesses encompass real estate development and investment, the management and ownership of hotels, alongside providing wast...
How the Company Makes Money
Bonvests makes money mainly through returns from its property and hospitality-related activities. Key revenue and earnings sources typically include (1) rental and related income from investment properties (e.g., leasing space and collecting recur...
Bonvests Holdings Limited Financial Statement Overview
Summary
Income Statement
61
Positive
Balance Sheet
70
Positive
Cash Flow
56
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 228.24M | 224.25M | 216.76M | 209.02M | 134.41M |
| Gross Profit | 93.84M | 199.59M | 95.74M | 185.68M | 123.11M |
| EBITDA | 49.65M | 55.08M | 57.27M | 67.09M | 48.28M |
| Net Income | 19.39M | 1.87M | 7.17M | 20.72M | 12.25M |
Balance Sheet | |||||
| Total Assets | 1.28B | 1.29B | 1.30B | 1.30B | 1.33B |
| Cash, Cash Equivalents and Short-Term Investments | 36.18M | 29.66M | 29.69M | 31.90M | 37.35M |
| Total Debt | 362.46M | 376.31M | 389.94M | 380.02M | 414.88M |
| Total Liabilities | 435.32M | 450.98M | 460.55M | 453.15M | 476.53M |
| Stockholders Equity | 840.56M | 838.28M | 837.71M | 842.24M | 847.61M |
Cash Flow | |||||
| Free Cash Flow | 22.03M | 35.70M | 19.30M | 39.14M | -4.40M |
| Operating Cash Flow | 32.13M | 45.85M | 43.29M | 55.85M | 23.53M |
| Investing Cash Flow | -11.08M | -9.35M | -23.05M | -15.85M | -25.16M |
| Financing Cash Flow | -14.84M | -36.79M | -21.37M | -44.12M | 626.00K |
Bonvests Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | S$1.31B | 11.44 | 9.38% | 2.52% | 16.69% | -66.72% | |
63 Neutral | S$393.49M | 20.33 | 2.33% | 1.24% | 1.78% | 927.66% | |
63 Neutral | S$716.52M | 23.41 | 3.38% | 0.99% | 0.28% | -10.91% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | S$528.69M | -19.02 | -2.21% | 2.10% | 3.67% | -96.30% | |
49 Neutral | S$380.90M | -1.84 | -19.49% | 3.96% | -6.56% | 9.61% | |
46 Neutral | S$121.93M | -13.16 | -2.19% | 1.58% | 3.75% | -578.57% |
* Consumer Cyclical Sector Average
SG:B28
Bonvests Holdings Limited
0.98
>-0.01
-0.20%
SG:5DP
Heeton Holdings Limited
0.23
-0.03
-12.88%
SG:H07
Stamford Land Corporation Ltd
0.48
0.05
11.76%
SG:H18
Hotel Grand Central Ltd.
0.72
<0.01
0.56%
SG:M01
Metro Holdings Ltd
0.45
0.04
9.49%
SG:OU8
Centurion Corporation Limited
1.64
>-0.01
-0.49%
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.