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Kencana Agri Limited
(SGX:BNE)
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Rating:60Neutral
Price Target:
S$0.45
▲(61.43% Upside)
Action:Reiterated
Date:07/01/26
The score is driven primarily by improving financial performance (earnings recovery and positive cash generation) but constrained by balance-sheet leverage and business volatility. Technicals are mixed-to-weak in the near term (below 20/50-day averages). Valuation is a major positive, supported by a very low P/E and a ~3.49% dividend yield.
Positive Factors
Integrated palm-oil value chain
Owning and operating both upstream plantations and milling/processing gives durable vertical integration. This structure helps capture more margin across the chain, provides operational flexibility to allocate outputs, and reduces reliance on third-party processors over multi-quarter cycles.
Negative Factors
Elevated financial leverage
A debt-to-equity ratio near 2.7x leaves limited financial flexibility and increases refinancing and interest-rate risk. High leverage heightens vulnerability to commodity price swings and weaker cash flows, constraining the company's ability to invest or weather prolonged downcycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated palm-oil value chain
Owning and operating both upstream plantations and milling/processing gives durable vertical integration. This structure helps capture more margin across the chain, provides operational flexibility to allocate outputs, and reduces reliance on third-party processors over multi-quarter cycles.
Read all positive factors
Kencana Agri Limited (BNE) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$126.28M
Dividend YieldN/A
Average Volume (3M)39.94K
Price to Earnings (P/E)7.5
Beta (1Y)0.12
Revenue Growth26.44%
EPS Growth52.17%
CountrySG
Employees7,556
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)0.10
Shares Outstanding287,011,170
10 Day Avg. Volume16,500
30 Day Avg. Volume39,940
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)1.02
Price to Sales (P/S)0.29
P/FCF Ratio1.69
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)0.09
Revenue Forecast (FY)S$207.00M
Kencana Agri Limited Business Overview & Revenue Model
Company Description
Kencana Agri Limited, encompassing its various subsidiaries, operates as an integrated plantation enterprise with activities spanning Indonesia, Malaysia, and other international markets. Its core business involves cultivating oil palms and proces...
How the Company Makes Money
Kencana Agri Limited makes money mainly by producing and selling palm oil-related commodities. Its key revenue streams typically include: (1) Upstream plantation operations: generating value from harvesting oil palm fresh fruit bunches (FFB) from ...
Kencana Agri Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
43
Neutral
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 245.44M | 201.73M | 153.73M | 136.37M | 152.54M | 128.45M |
| Gross Profit | 77.51M | 56.35M | 43.34M | 26.42M | 43.59M | 41.16M |
| EBITDA | 81.54M | 56.89M | 53.81M | 30.45M | 35.49M | 58.30M |
| Net Income | 27.87M | 18.73M | 11.94M | -283.00K | 2.62M | 16.80M |
Balance Sheet | ||||||
| Total Assets | 290.32M | 263.42M | 288.31M | 293.26M | 299.56M | 334.22M |
| Cash, Cash Equivalents and Short-Term Investments | 14.91M | 26.96M | 9.39M | 3.89M | 2.87M | 3.38M |
| Total Debt | 1.99M | 156.25M | 192.36M | 188.50M | 195.47M | 231.31M |
| Total Liabilities | 239.69M | 206.57M | 247.39M | 262.68M | 269.02M | 303.46M |
| Stockholders Equity | 50.63M | 56.85M | 40.92M | 30.58M | 30.53M | 30.77M |
Cash Flow | ||||||
| Free Cash Flow | 49.48M | 34.29M | 14.26M | 22.28M | 44.04M | 34.04M |
| Operating Cash Flow | 64.85M | 46.28M | 28.79M | 40.33M | 54.36M | 39.69M |
| Investing Cash Flow | -16.87M | -11.77M | -14.16M | -12.45M | -9.45M | -2.60M |
| Financing Cash Flow | -34.17M | -26.38M | -8.47M | -27.22M | -44.84M | -37.80M |
Kencana Agri Limited Technical Analysis
Positive
0.28
Price Trends
0.49
Negative
0.44
Positive
0.35
Positive
Market Momentum
-0.01
Negative
45.29
Neutral
25.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:BNE, the sentiment is Positive. The current price of 0.28 is below the 20-day moving average (MA) of 0.44, below the 50-day MA of 0.49, and below the 200-day MA of 0.35, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 45.29 is Neutral, neither overbought nor oversold. The STOCH value of 25.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:BNE.
Kencana Agri Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | S$3.03B | 14.44 | 13.70% | 6.82% | 12.24% | 15.30% | |
70 Outperform | S$495.55M | 20.38 | 5.15% | 2.67% | 23.98% | 6.22% | |
65 Neutral | S$23.22B | 20.13 | 4.29% | 4.55% | 2.17% | 17.64% | |
64 Neutral | S$5.32B | 17.84 | 15.27% | 5.19% | 56.13% | 41.05% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | S$126.28M | 7.46 | 38.65% | ― | 26.44% | 52.17% | |
56 Neutral | S$3.36B | 8.70 | 9.59% | 2.87% | 16.06% | 7.31% |
* Consumer Defensive Sector Average
SG:BNE
Kencana Agri Limited
0.44
0.36
417.65%
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0.06
19.93%
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.