Bukit Sembawang Estates Limited (B61) AI Stock Analysis

• Market Cap: S$1.26B
• Dividend Yield: 4.18%
• Average Volume (3M): 47.28K
• Price to Earnings (P/E): 13.1
• Beta (1Y): 0.71
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: S$5.50 ▲(14.35% 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

Balance sheet strength

A very low debt-to-equity ratio and high equity ratio materially reduce financial risk and borrowing dependence. This structural solidity supports funding development cycles internally, gives flexibility to acquire land or withstand downturns, and underpins long-term resilience.

Sustained profitability margins

Consistent net margins above 20% and healthy operating margins indicate persistent pricing power and cost control across projects. Sustained profitability enables reinvestment into new developments, consistent cash returns to stakeholders, and a buffer against cyclical revenue swings.

Operating cash generation

Positive operating cash flow and strong conversion from net income demonstrate real cash generation from core development activities. That structural cash generation reduces reliance on external financing for project completion and supports dividend capacity and capital allocation flexibility.

Negative Factors

Sharp revenue decline

A roughly 42.8% decline in revenue signals a material drop in sales or handovers tied to project timing or weaker demand. For a project-driven developer this can persist across quarters, producing lumpy earnings and pressuring margins and cash balances if recovery is slow.

Negative free cash flow growth

Negative free cash flow growth, despite positive operating cash flow, implies higher capex, working-capital drawdowns or cash absorbed by projects. If sustained, it can erode liquidity buffers, increase refinancing needs for new launches, and constrain strategic investments.

Concentrated market and timing risk

A concentrated focus on Singapore residential development exposes results to a single housing cycle and local policy shifts. Combined with revenue recognition tied to project timing, this structural concentration increases sensitivity to demand swings, policy changes and execution delays.

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 generates revenue primarily through the sale and leasing of residential properties. The company's revenue model is driven by its development projects, where it acquires land, develops residential units, and subsequently sells them to homebuyers or investors. Key revenue streams include the sale of completed properties, pre-sales of units during the construction phase, and ongoing rental income from commercial and residential properties in its portfolio. Significant partnerships with contractors, architects, and real estate agencies enhance its operational efficiency and market reach, while strategic land acquisitions allow the company to expand its development pipeline and capitalize on favorable market conditions.

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

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:B61, the sentiment is Neutral. The current price of 4.81 is below the 20-day moving average (MA) of 5.04, below the 50-day MA of 4.97, and above the 200-day MA of 4.33, indicating a neutral trend. The MACD of -0.01 indicates Positive momentum. The RSI at 38.89 is Neutral, neither overbought nor oversold. The STOCH value of 13.64 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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$1.26B	13.06	6.39%	4.18%	-42.76%	-9.23%
U14	73 Outperform	S$9.28B	19.79	3.80%	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$603.86M	11.73	4.51%	3.17%	-2.21%	-20.80%
F1E	63 Neutral	S$576.28M	-41.49	-2.34%	2.05%	-39.12%	-326.51%
C09	62 Neutral	S$8.60B	14.14	2.25%	1.23%	-10.52%	-39.75%