Penguin International Limited (BTM) AI Stock Analysis

• Market Cap: S$262.00M
• Dividend Yield: 4.07%
• Average Volume (3M): 7.39K
• Price to Earnings (P/E): 6.6
• Beta (1Y): -0.70
• Revenue Growth: 29.29%
• EPS Growth: 112.37%
• Country: SG
• Employees: 14,500
• Sector: Industrials
• Sector Strength: 84
• Industry: Aerospace & Defense
• EPS (TTM): 0.03
• Shares Outstanding: 220,169,770
• 10 Day Avg. Volume: 1,400
• 30 Day Avg. Volume: 7,386
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: S$1.50
• Price Target Upside: 25.79% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 77 Outperform
• Price Target: S$1.50 ▲(26.05% Upside)

The stock's valuation is particularly attractive due to a low P/E ratio and a strong dividend yield, making it potentially undervalued. Financial performance is solid with strong profitability, though cash flow challenges from capital expenditures are a concern. Technical indicators support a neutral to positive outlook, with the stock trading above its long-term moving average.

Penguin International Limited Business Overview & Revenue Model

Company Description

Penguin International Limited (BTM) is a Singapore-based company primarily engaged in the design, construction, repair, and maintenance of high-speed aluminum commercial vessels. It serves various sectors, including offshore oil and gas, security, and transportation. The company's core products include crew boats, security vessels, and passenger ferries, which are highly regarded for their performance and reliability.

How the Company Makes Money

Penguin International Limited generates revenue primarily through the sale and lease of its high-speed vessels. The company operates a dual revenue model by selling custom-built boats to clients and providing chartering services for offshore operations. Significant revenue streams include new vessel construction contracts, leasing agreements, and maintenance services. Additionally, strategic partnerships with maritime operators and government entities in key regions contribute to its earnings by expanding its market reach and securing repeat business.

Penguin International Limited Financial Statement Overview

Summary

Penguin International Limited shows strong financial health with consistent revenue growth and robust profitability margins. The balance sheet is stable with prudent leverage, though rising debt levels need monitoring. Cash flow improvements are evident, but challenges remain in generating positive free cash flow due to capital-intensive operations.

Income Statement

Penguin International Limited has demonstrated strong revenue growth over recent years, with a notable increase of 29.3% from 2023 to 2024. The gross profit margin improved to 35.8%, reflecting efficient cost management. Net profit margin stood at a healthy 15.1%, indicating robust profitability. Additionally, the EBIT margin rose to 19.1%, showing strong operational performance. The EBITDA margin of 27.2% further supports the company's profitability potential.

Balance Sheet

The company's balance sheet reflects a solid financial position with an equity ratio of 59.6%, suggesting financial stability. The debt-to-equity ratio is moderate at 0.25, indicating a conservative leverage approach. Return on equity (ROE) is impressive at 14.6%, demonstrating efficient equity use. However, some potential concerns include increasing total debt over the years, which may pose future risks if not managed carefully.

Cash Flow

Free cash flow improved significantly in 2024 compared to 2023, though it remains negative at $-3.02 million. The operating cash flow to net income ratio has improved, indicating better cash generation from operations relative to profit. However, the free cash flow to net income ratio highlights ongoing challenges in converting earnings into free cash flow due to high capital expenditures.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	200.07M	235.84M	182.41M	135.23M	132.65M	119.42M
Gross Profit	71.87M	84.51M	52.28M	35.92M	37.18M	33.50M
EBITDA	31.05M	64.27M	38.52M	27.39M	25.85M	20.56M
Net Income	24.38M	35.53M	16.74M	10.55M	12.67M	13.21M
Balance Sheet
Total Assets	395.69M	407.21M	373.26M	318.45M	256.82M	237.25M
Cash, Cash Equivalents and Short-Term Investments	25.29M	33.98M	26.76M	15.95M	22.01M	40.88M
Total Debt	51.81M	59.77M	53.26M	31.58M	23.43M	13.59M
Total Liabilities	184.76M	164.52M	161.85M	120.35M	64.93M	62.62M
Stockholders Equity	210.94M	242.70M	211.41M	198.11M	191.89M	174.64M
Cash Flow
Free Cash Flow	-24.86M	-3.02M	-28.50M	-22.64M	-41.50M	-41.45M
Operating Cash Flow	-28.82M	16.86M	-8.92M	25.42M	-17.64M	-5.36M
Investing Cash Flow	35.52M	-7.14M	6.57M	-33.72M	-10.60M	-14.33M
Financing Cash Flow	-10.92M	-3.52M	9.81M	2.05M	11.54M	-2.83M

Penguin International Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.19
• 50DMA: Positive
• 100DMA: Positive
• 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:BTM, the sentiment is Positive. The current price of 1.19 is below the 20-day moving average (MA) of 1.22, above the 50-day MA of 1.15, and above the 200-day MA of 0.95, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 52.92 is Neutral, neither overbought nor oversold. The STOCH value of 52.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:BTM.

Penguin International Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BTM	77 Outperform	S$262.00M	6.60	18.36%	4.07%	29.29%	112.37%
5LY	76 Outperform	S$221.22M	10.35	11.57%	1.69%	-13.64%	-28.75%
A04	66 Neutral	S$65.20M	12.96	4.42%	―	-9.28%	-86.86%
Sector *	65 Neutral	$2.57B	11.54	10.94%	3.88%	-1.42%	38.60%
F83	51 Neutral	S$546.38M	51.25	1.11%	―	-3.24%	200.00%

Penguin International Limited Corporate Events

Penguin International Limited Announces Change in Company Secretaries

Penguin International Limited has announced a change in its company secretaries, appointing Ms Lim Guek Hong and Ms See Kai Li to replace Ms Heng Michelle Fiona and Ms Tan Ching Chek, effective immediately. The Board expressed gratitude to the outgoing secretaries for their contributions, indicating a smooth transition in the company’s administrative operations.

Penguin International Reports Strong FY2024 Performance with Major Shipbuilding Projects

During the 2025 Annual General Meeting, Penguin International Limited reported significant achievements in its FY2024 business performance. The company successfully executed larger and more complex newbuild projects, including the construction of its largest vessels to date. These projects involved two diesel-powered 56-metre passenger-cum-vehicle ferries for a Middle Eastern owner and two hybrid windfarm CTVs for a European owner. Additionally, Penguin expanded its crewboats operations in the Middle East and Africa, benefiting from higher charter rates and improved margins.