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Golden Agri-Resources Ltd (SG:E5H)
SGX:E5H

Golden Agri-Resources (E5H) AI Stock Analysis

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Golden Agri-Resources

(SGX:E5H)

Rating:67Neutral
Price Target:
S$0.50
▲(100.00%Upside)
Golden Agri-Resources shows strong valuation metrics with an attractive P/E ratio and a reasonable dividend yield, contributing significantly to its overall score. However, despite solid revenue growth, financial performance is hindered by cash flow challenges and constrained profitability. Technical analysis indicates limited buying pressure and potential overvaluation, suggesting cautious optimism for investors.

Golden Agri-Resources (E5H) vs. iShares MSCI Singapore ETF (EWS)

Golden Agri-Resources Business Overview & Revenue Model

Company DescriptionGolden Agri-Resources Ltd, an investment holding company, operates as an integrated palm oil plantation company in Europe, China, India, Pakistan, the Middle east, and the United States. It operates in two segments, Plantation and Palm Oil Mills; and Palm, Laurics and Others. The company offers bulk products, such as crude palm oil, palm kernel, palm kernel oil, palm kernel meal, olein, stearin, soybean oil, and soybean meal; oleo chemicals; palm oil based bio-diesel and other renewable resources based energy; and refined products, including cooking oil, margarine, shortening, butter oil substitute, and fats. It also produces processed food products, such as instant noodles, as well as snack products and beverages. The company manages oil palm estates with a total area of 536,013 hectares in Indonesia. In addition, it offers treasury management, building management, business and management consultancy, telecommunication and multimedia, commercial and industrial real estate management, digital analytics; aerial manuring, construction, training, ship management, chartering, and technology product services. Further, the company provides IT consultancy, IT application design, development, and maintenance services; facilities for data center resources and other IT outsourced activities; and port loading, storage, packaging, and transportation service. Additionally, it engages in importing, marketing, and distributing palm oil products; cultivation of ornamental plants; wholesale trade; property investment activities; production and distribution of bottled ionised mineral water and fatty alcohol, acid, derivatives, and other chemical; shipping and logistics; vessels operation; office administration and dormant services; refinery operation; and sale of food and beverage products. The company was incorporated in 1996 and is based in Singapore.
How the Company Makes MoneyGolden Agri-Resources makes money through its vertically integrated business model that spans the full palm oil value chain. The company's primary revenue streams include the sale of crude palm oil and palm kernel oil, which are processed in its refineries. These products are further refined to produce cooking oils, margarines, specialty fats, and oleochemicals for use in various industries such as food, personal care, and biofuels. Additionally, the company benefits from its extensive distribution network and strategic partnerships, which enhance its market reach and efficiency. Revenue is also generated from its downstream business activities, including trading and merchandising of palm oil products, contributing to its diversified income sources.

Golden Agri-Resources Financial Statement Overview

Summary
Golden Agri-Resources demonstrates robust revenue growth and operational stability. However, profitability margins remain constrained, and cash flow challenges highlight areas for improvement in liquidity and cash management. The company exhibits a balanced capital structure, but the high debt levels require careful monitoring to mitigate financial risk.
Income Statement
75
Positive
Golden Agri-Resources showed solid revenue growth, with a notable increase from $9.76 billion in 2023 to $10.91 billion in 2024, marking a growth rate of approximately 11%. The company's gross profit margin improved slightly to 18.8%, while the net profit margin increased to 3.34%. EBIT and EBITDA margins indicate stable operational efficiency, but the net profit margin remains relatively low, highlighting limited profitability.
Balance Sheet
70
Positive
The balance sheet reflects a stable equity base with an equity ratio of 47.7%, indicating a balanced capital structure. The debt-to-equity ratio stands at 0.73, which is reasonable for the industry. However, the return on equity (ROE) is 7.15%, suggesting moderate efficiency in generating returns from equity investments. The company maintains a consistent asset base, but the relatively high total debt could pose potential risk if not managed properly.
Cash Flow
60
Neutral
The cash flow statement indicates challenges, with a negative operating cash flow in 2024. Free cash flow was also negative, signaling potential liquidity issues. The operating cash flow to net income ratio is negative, aligning with the negative operating cash flow, while the free cash flow to net income ratio reveals inefficiencies in converting income to cash flow, posing concerns over cash management and sustainability of operations.
Breakdown
TTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
7.05B10.91B9.76B11.44B10.18B7.08B
Gross Profit
973.47M2.05B1.85B3.03B2.35B1.15B
EBIT
139.38M611.44M476.04M1.46B728.59M305.91M
EBITDA
384.01M1.16B972.37M1.82B1.25B646.51M
Net Income Common Stockholders
38.37M364.55M197.60M782.10M476.18M31.75M
Balance SheetCash, Cash Equivalents and Short-Term Investments
354.98M999.83M1.14B1.15B666.02M1.10B
Total Assets
8.31B10.69B9.72B9.90B9.61B9.13B
Total Debt
3.07B3.71B3.06B2.98B3.00B3.15B
Net Debt
2.91B3.30B2.52B2.29B2.50B2.74B
Total Liabilities
4.21B5.32B4.54B4.65B4.72B4.69B
Stockholders Equity
4.05B5.10B4.93B5.00B4.68B4.25B
Cash FlowFree Cash Flow
150.37M-410.47M238.22M885.48M357.68M543.11M
Operating Cash Flow
654.81M-80.91M554.54M1.09B564.79M743.86M
Investing Cash Flow
-752.14M-626.21M-604.61M-705.86M-196.19M-320.61M
Financing Cash Flow
-46.14M680.07M-175.97M-292.87M-282.66M-231.20M

Golden Agri-Resources Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.25
Price Trends
50DMA
0.24
Positive
100DMA
0.24
Positive
200DMA
0.25
Negative
Market Momentum
MACD
<0.01
Negative
RSI
60.71
Neutral
STOCH
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:E5H, the sentiment is Positive. The current price of 0.25 is above the 20-day moving average (MA) of 0.25, above the 50-day MA of 0.24, and below the 200-day MA of 0.25, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 60.71 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:E5H.

Golden Agri-Resources Peers Comparison

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
SGE5H
67
Neutral
$3.17B6.517.27%3.22%11.22%84.13%
65
Neutral
$8.92B15.034.68%6.11%3.59%-2.49%
$1.76B7.7018.32%7.97%
$2.74B63.621.32%5.31%
$14.78B12.595.84%5.08%
DE2BU
€915.24M6.8316.33%8.79%
SG5JS
70
Outperform
S$432.73M4.597.94%3.23%-4.59%74.87%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SG:E5H
Golden Agri-Resources
0.25
>-0.01
-2.34%
FTROF
First Resources (Singapore)
1.22
0.24
24.49%
OLGPF
Olam Group
0.68
-0.12
-15.00%
WLMIF
Wilmar International
2.36
0.21
9.77%
DE:2BU
Bumitama Agri Ltd.
0.52
0.10
23.81%
SG:5JS
Indofood Agri Resources Ltd.
0.31
0.03
10.71%

Golden Agri-Resources Corporate Events

Golden Agri-Resources Ltd Conducts 2025 Annual Meeting
May 23, 2025

Golden Agri-Resources Ltd held its Annual Meeting on April 25, 2025, at the Orchard Hotel Singapore, where the board members and auditors were introduced, and the meeting was chaired by Mr. Franky Oesman Widjaja. The meeting commenced with a quorum, indicating active shareholder participation, which underscores the company’s commitment to transparency and stakeholder engagement.

Golden Agri-Resources Reports Asset Growth in Q1 2025
Apr 30, 2025

Golden Agri-Resources, through its subsidiary PT Sinar Mas Agro Resources and Technology Tbk, has reported its consolidated financial position as of March 31, 2025, showing a total asset increase to 46,269,755 million Rupiah from 45,333,131 million Rupiah at the end of 2024. The company has seen growth in both current and non-current assets, with notable increases in inventories and fixed assets, indicating a robust operational expansion and potential for enhanced market positioning.

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.