SIIC Environment Holdings Ltd. (SG:BHK)
SGX:BHK
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SIIC Environment Holdings
(SGX:BHK)
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Rating:61Neutral
Price Target:
S$0.20
▲(8.89% Upside)
Action:ReiteratedDate:03/02/26
The score is anchored by attractive valuation (very low P/E and high dividend yield) and moderately positive technical momentum, but is materially held back by weak financial quality—especially volatile operating/free cash flow and elevated leverage—along with a soft 2025 revenue decline.
Positive Factors
Operating profitability
Consistently strong gross and EBIT margins indicate durable operating leverage and pricing power in core services. Over months this supports stable operating earnings, underpins ability to fund required maintenance capex, and gives margin buffer versus cyclical revenue swings.
Negative Factors
Elevated leverage
High debt-to-equity materially reduces financial flexibility and raises refinancing and interest-rate risk. If costs rise or cash flows weaken, leverage will constrain capex, dividend policy and deleveraging ability, posing a structural constraint on strategic choices.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating profitability
Consistently strong gross and EBIT margins indicate durable operating leverage and pricing power in core services. Over months this supports stable operating earnings, underpins ability to fund required maintenance capex, and gives margin buffer versus cyclical revenue swings.
Read all positive factors
SIIC Environment Holdings (BHK) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$463.62M
Dividend Yield6.29%
Average Volume (3M)385.67K
Price to Earnings (P/E)4.1
Beta (1Y)0.18
Revenue Growth-1.90%
EPS Growth-2.24%
CountrySG
Employees6,252
SectorUtilities
Sector Strength65
IndustryRegulated Water
Share Statistics
EPS (TTM)0.02
Shares Outstanding2,575,665,800
10 Day Avg. Volume137,720
30 Day Avg. Volume385,670
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.22
Price to Sales (P/S)0.35
P/FCF Ratio28.44
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
SIIC Environment Holdings Business Overview & Revenue Model
Company Description
SIIC Environment Holdings Ltd., an investment holding company, engages in the wastewater treatment, water supply, sludge treatment, solid waste incineration, and other environment related businesses primarily in the People's Republic of China. It ...
How the Company Makes Money
SIIC Environment Holdings generates revenue primarily through the provision of water and waste management services. Key revenue streams include long-term service contracts for wastewater treatment and solid waste management, where the company char...
SIIC Environment Holdings Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
52
Neutral
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.99B | 7.60B | 7.57B | 8.30B | 7.27B |
| Gross Profit | 2.43B | 2.62B | 2.70B | 2.63B | 2.40B |
| EBITDA | 2.57B | 2.60B | 2.68B | 2.60B | 2.45B |
| Net Income | 603.29M | 605.14M | 604.02M | 780.20M | 706.16M |
Balance Sheet | |||||
| Total Assets | 44.48B | 44.96B | 42.61B | 40.55B | 37.51B |
| Cash, Cash Equivalents and Short-Term Investments | 3.50B | 2.93B | 2.95B | 2.61B | 2.80B |
| Total Debt | 21.77B | 22.39B | 20.30B | 19.21B | 16.72B |
| Total Liabilities | 27.81B | 28.87B | 27.32B | 25.73B | 23.48B |
| Stockholders Equity | 11.04B | 10.64B | 10.13B | 9.82B | 9.53B |
Cash Flow | |||||
| Free Cash Flow | 87.15M | -1.20B | 772.32M | -1.85B | -555.63M |
| Operating Cash Flow | 788.15M | 565.09M | 1.90B | -1.39B | 315.62M |
| Investing Cash Flow | 68.17M | -1.71B | -1.43B | -658.12M | -867.08M |
| Financing Cash Flow | -1.46B | 1.17B | -89.46M | 1.76B | 678.55M |
SIIC Environment Holdings Technical Analysis
Negative
0.18
Price Trends
0.18
Negative
0.18
Negative
0.18
Positive
Market Momentum
<0.01
Positive
44.61
Neutral
60.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:BHK, the sentiment is Negative. The current price of 0.18 is below the 20-day moving average (MA) of 0.18, below the 50-day MA of 0.18, and above the 200-day MA of 0.18, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 44.61 is Neutral, neither overbought nor oversold. The STOCH value of 60.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:BHK.
SIIC Environment Holdings Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | S$658.00M | 23.21 | 2.22% | 7.88% | -4.16% | -12.99% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | S$12.05B | 10.88 | 18.30% | 4.33% | -6.69% | 6.76% | |
62 Neutral | S$945.12M | 32.03 | 10.29% | 4.78% | 6.50% | 231.23% | |
61 Neutral | S$463.62M | 4.11 | ― | 6.29% | -1.90% | -2.24% | |
60 Neutral | S$390.17M | 8.47 | 15.40% | ― | -5.31% | -47.29% | |
49 Neutral | S$338.72M | 48.02 | -1.18% | ― | 5.38% | 81.93% |
* Utilities Sector Average
SG:BHK
SIIC Environment Holdings
0.18
0.03
20.00%
SG:U9E
China Everbright Water
0.23
<0.01
4.07%
SG:5IG
Gallant Venture
0.06
-0.02
-20.51%
SG:U96
Sembcorp Industries
6.77
0.41
6.50%
SG:BWM
Zheneng Jinjiang Environment Holding Co., Ltd.
0.65
0.22
52.22%
SG:5GD
Sunpower Group Ltd.
0.48
0.26
115.91%
SIIC Environment Holdings Corporate Events
SIIC Environment Reports No Share Capital Changes for January 2026
Feb 5, 2026
SIIC Environment Holdings Ltd., listed in Hong Kong, has filed its routine monthly return for equity securities and Hong Kong depositary receipts as at 31 January 2026. The filing indicates there were no movements in the company’s authorised...
SIIC Environment Reports No Change in Authorised Share Capital for December 2025
Jan 6, 2026
SIIC Environment Holdings Ltd. has filed its monthly return for equity issuers for the month ended 31 December 2025 with Hong Kong Exchanges and Clearing Limited, confirming movements, if any, in its share capital and securities. The latest filing...
SIIC Environment Holdings Granted New Waiver for Compliance
Dec 4, 2025
SIIC Environment Holdings Ltd. has been granted a new waiver from strict compliance with certain Hong Kong Listing Rules due to a change in joint company secretary. The waiver, effective from November 2025 to October 2027, requires Mr. Lee Wei Hsi...
SIIC Environment Holdings Submits Monthly Return for November 2025
Dec 3, 2025
SIIC Environment Holdings Ltd. submitted a new monthly return for equity issuers and Hong Kong Depositary Receipts for November 2025 to the Hong Kong Exchanges and Clearing Limited. This submission reflects the company’s compliance with regu...
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.