Bukit Sembawang Estates Limited (B61) AI Stock Analysis

• Market Cap: S$1.16B
• Dividend Yield: 4.18%
• Average Volume (3M): 47.28K
• Price to Earnings (P/E): 8.2
• Beta (1Y): 0.74
• Revenue Growth: -42.76%
• EPS Growth: -9.23%
• Country: SG
• Employees: 31
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): 0.18
• Shares Outstanding: 258,911,320
• 10 Day Avg. Volume: 45,090
• 30 Day Avg. Volume: 47,280
• PEG Ratio: 0.13
• Price to Book (P/B): 0.59
• Price to Sales (P/S): 1.69
• P/FCF Ratio: 5.37
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.4
• Revenue Forecast (FY): S$501.00M

• Rating: 73 Outperform
• Price Target: S$5.00 ▲(3.95% Upside)
• Action: Reiterated Date: 10/29/25
• Date: Action: Reiterated 10/29/25

Bukit Sembawang Estates Limited is financially robust with strong profitability and a solid balance sheet. The valuation is attractive with a low P/E ratio and high dividend yield. However, technical indicators show weak momentum, and recent declines in revenue and free cash flow growth are concerns. The absence of earnings call data and corporate events limits further insights.

Positive Factors

Low leverage / strong balance sheet

The company's very low debt-to-equity and high equity ratio provide durable financial flexibility to fund land purchases, absorb development cycle swings, and avoid refinancing stress. This conservatism supports opportunistic investment and steady capital returns over the medium term.

High and consistent profit margins

Sustained net margins above 20% indicate repeatable pricing power, disciplined land selection and cost control across projects. High margins create a durable buffer against sales volatility, preserving returns on invested capital and supporting stable distributions through cycles.

Positive operating cash flow / strong cash conversion

Consistent positive operating cash flow demonstrates the core development business converts reported earnings into cash. Reliable cash generation supports working capital, project funding and dividends, reducing dependency on external financing during the next several quarters.

Negative Factors

Sharp recent revenue decline

A roughly 42.8% year-over-year revenue drop signals meaningful sales or recognition weakness tied to timing of handovers. Large revenue swings can pressure throughput, limit reinvestment capacity and make near-term earnings outcomes unpredictable across the next 2-6 months.

Negative free cash flow growth

Declining free cash flow growth erodes internal funding for land acquisition or new project starts and may force management to slow launches, cut dividends or access external capital. If the trend continues, it weakens growth optionality and financial resilience.

Earnings volatility from project timing

The business model's reliance on the timing of project launches and completions causes structurally lumpy revenue and profit recognition. That cyclicality complicates forecasting, capital allocation and consistent cash generation, increasing execution risk over multi-quarter horizons.

Bukit Sembawang Estates Limited Business Overview & Revenue Model

Company Description

Bukit Sembawang Estates Limited, an investment holding company, engages in the property development in Singapore. It operates through Property Development, Investment Holding, and Hospitality segments. The company develops and sells residential properties; and holds and manages office buildings and investments. It also operates serviced apartments. Bukit Sembawang Estates Limited was founded in 1911 and is based in Singapore.

How the Company Makes Money

Bukit Sembawang Estates Limited primarily makes money through residential property development and sales. Its main revenue stream comes from selling residential units (e.g., landed housing and condominium apartments) in its development projects; revenue is recognized based on the applicable accounting treatment for property development sales (e.g., upon completion and handover or over time, depending on contract/accounting requirements). Profitability is driven by (1) the ability to acquire land or redevelopment sites at attractive prices, (2) development execution and construction cost control, (3) product positioning and pricing relative to demand in Singapore’s residential market, and (4) the timing of project launches and completions (which can cause earnings to be lumpy from year to year). The company may also earn ancillary income related to its developments (such as interest income, or other property-related income), but specific breakdowns by stream, project-level contributions, or named partnerships are null.

Bukit Sembawang Estates Limited Financial Statement Overview

Summary

Bukit Sembawang Estates Limited shows strong financial health with robust profitability and a solid balance sheet. The low leverage and high equity ratio provide stability, while the consistent profitability margins reflect operational efficiency. However, the recent decline in revenue and free cash flow growth could pose challenges if not addressed.

Income Statement

The company has demonstrated strong profitability with a consistent net profit margin above 20% in recent years, indicating efficient cost management. However, revenue growth has been inconsistent, with a notable decline in the most recent year. The EBIT and EBITDA margins are healthy, reflecting robust operational performance.

Balance Sheet

The balance sheet is strong with a very low debt-to-equity ratio, suggesting minimal leverage and financial risk. The return on equity has improved over the years, indicating effective use of equity capital. The equity ratio is high, underscoring a solid financial position with a significant portion of assets financed by equity.

Cash Flow

The company has maintained a positive operating cash flow, which is a good indicator of financial health. However, free cash flow growth has been negative recently, which could be a concern if it persists. The operating cash flow to net income ratio is strong, indicating good cash conversion from earnings.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	549.96M	561.96M	197.13M	288.23M	580.96M
Gross Profit	131.95M	76.78M	34.11M	100.30M	243.36M
EBITDA	142.29M	89.97M	45.70M	106.02M	239.68M
Net Income	114.29M	70.85M	34.40M	82.92M	189.44M
Balance Sheet
Total Assets	1.70B	1.60B	1.58B	1.67B	1.95B
Cash, Cash Equivalents and Short-Term Investments	582.42M	452.24M	179.28M	522.18M	717.21M
Total Debt	1.01M	650.00K	25.93M	132.11M	338.63M
Total Liabilities	103.31M	78.73M	103.62M	191.38M	466.89M
Stockholders Equity	1.59B	1.52B	1.47B	1.48B	1.48B
Cash Flow
Free Cash Flow	173.60M	209.89M	-85.59M	99.73M	463.99M
Operating Cash Flow	173.78M	210.00M	-85.12M	100.00M	464.59M
Investing Cash Flow	-184.00K	-111.00K	-461.00K	-270.00K	-606.00K
Financing Cash Flow	-43.42M	-51.65M	-150.52M	-298.59M	-34.92M

Bukit Sembawang Estates Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.81
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:B61, the sentiment is Negative. The current price of 4.81 is above the 20-day moving average (MA) of 4.75, below the 50-day MA of 4.93, and above the 200-day MA of 4.40, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 36.02 is Neutral, neither overbought nor oversold. The STOCH value of 50.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:B61.

Bukit Sembawang Estates Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
B61	73 Outperform	S$1.16B	8.16	6.39%	4.18%	-42.76%	-9.23%
U14	73 Outperform	$8.07B	15.33	4.14%	2.06%	18.74%	-38.36%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
O10	65 Neutral	S$574.40M	11.27	4.34%	3.17%	-2.21%	-20.80%
F1E	63 Neutral	S$576.28M	-15.94	-2.34%	2.05%	-39.12%	-326.51%
C09	58 Neutral	S$7.44B	11.35	6.76%	1.23%	-10.52%	-39.75%