Bonvests Holdings Limited (SG:B28)
SGX:B28
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Bonvests Holdings Limited
(SGX:B28)
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Rating:57Neutral
Price Target:
S$1.00
▲(4.06% Upside)
Action:ReiteratedDate:03/01/26
The score is held back mainly by uneven profitability and choppy/free-cash-flow performance, including a meaningful 2025 FCF decline. Technical indicators also lean weak (negative MACD, RSI below 50), while valuation is only average with a modest P/E and low dividend yield.
Positive Factors
Recurring rental income
A meaningful share of revenue comes from contractual rental and leasing, providing stable, recurring cash inflows that smooth operating volatility from development or hospitality cycles. This durable income supports debt servicing, base EBITDA and planning over the next several quarters.
Negative Factors
Weak recent revenue trend
A switch to negative revenue growth undermines the growth runway for recurring rental and hospitality income. If this marks a structural slowdown in demand or leasing momentum, it constrains ability to expand NOI, fund developments, and improve earnings consistency over a multi-quarter horizon.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring rental income
A meaningful share of revenue comes from contractual rental and leasing, providing stable, recurring cash inflows that smooth operating volatility from development or hospitality cycles. This durable income supports debt servicing, base EBITDA and planning over the next several quarters.
Read all positive factors
Bonvests Holdings Limited (B28) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$393.49M
Dividend Yield0.82%
Average Volume (3M)4.43K
Price to Earnings (P/E)19.9
Beta (1Y)0.43
Revenue Growth0.58%
EPS Growth-9.33%
CountrySG
Employees2,712
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Lodging
Share Statistics
EPS (TTM)0.04
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, an investment holding company, engages in the property development and investment, hotel ownership and management, and waste management and contract cleaning businesses. The company operates through Rental, Hotel, Indust...
How the Company Makes Money
Bonvests Holdings Limited generates revenue through multiple streams primarily related to its real estate and hospitality operations. The company earns rental income from leasing its commercial and retail properties, which provides a steady cash f...
Bonvests Holdings Limited Financial Statement Overview
Summary
Income Statement
61
Positive
Balance Sheet
70
Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 231.94M | 228.24M | 224.25M | 216.76M | 209.02M | 134.41M |
| Gross Profit | 126.39M | 93.84M | 199.59M | 95.74M | 185.68M | 123.11M |
| EBITDA | 53.06M | 49.65M | 55.08M | 57.27M | 67.09M | 48.28M |
| Net Income | 5.46M | 19.39M | 1.87M | 7.17M | 20.72M | 12.25M |
Balance Sheet | ||||||
| Total Assets | 1.26B | 1.28B | 1.29B | 1.30B | 1.30B | 1.33B |
| Cash, Cash Equivalents and Short-Term Investments | 27.65M | 36.18M | 29.66M | 29.69M | 31.90M | 37.35M |
| Total Debt | 370.45M | 362.46M | 376.31M | 389.94M | 380.02M | 414.88M |
| Total Liabilities | 437.41M | 435.32M | 450.98M | 460.55M | 453.15M | 476.53M |
| Stockholders Equity | 820.62M | 840.56M | 838.28M | 837.71M | 842.24M | 847.61M |
Cash Flow | ||||||
| Free Cash Flow | 32.93M | 22.03M | 35.70M | 19.30M | 39.14M | -4.40M |
| Operating Cash Flow | 40.35M | 32.13M | 45.85M | 43.29M | 55.85M | 23.53M |
| Investing Cash Flow | -7.28M | -10.80M | -9.35M | -23.05M | -15.85M | -25.16M |
| Financing Cash Flow | -31.35M | -15.04M | -36.79M | -21.37M | -44.12M | 626.00K |
Bonvests Holdings Limited Technical Analysis
Positive
0.96
Price Trends
0.96
Positive
0.96
Positive
0.97
Positive
Market Momentum
<0.01
Negative
56.10
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:B28, the sentiment is Positive. The current price of 0.96 is below the 20-day moving average (MA) of 0.96, below the 50-day MA of 0.96, and below the 200-day MA of 0.97, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 56.10 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:B28.
Bonvests Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | S$716.52M | ― | 2.88% | 0.99% | -2.69% | -6.28% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | S$393.49M | 19.88 | 0.66% | 0.82% | 0.58% | -9.33% | |
57 Neutral | S$539.78M | -19.00 | -1.45% | 2.14% | -2.09% | -302.48% |
* Consumer Cyclical Sector Average
SG:B28
Bonvests Holdings Limited
0.98
0.15
18.07%
SG:H07
Stamford Land Corporation Ltd
0.48
0.13
37.14%
SG:H12
Hotel Royal Ltd.
1.98
0.37
22.98%
SG:H15
Hotel Properties Limited
4.46
1.07
31.56%
SG:H18
Hotel Grand Central Ltd.
0.73
0.07
10.61%
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.