Golden Agri-Resources (E5H) AI Stock Analysis

• Market Cap: $3.17B
• Dividend Yield: 3.22%
• Average Volume (3M): 4.50M
• Price to Earnings (P/E): 6.5
• Beta (1Y): 0.29
• Revenue Growth: 11.22%
• EPS Growth: 84.13%
• Country: SG
• Employees: 100,100
• Sector: Consumer Defensive
• Sector Strength: 63
• Industry: Agricultural Farm Products
• EPS (TTM): <0.01
• Shares Outstanding: 12,837,549,000
• 10 Day Avg. Volume: 8,344,060
• 30 Day Avg. Volume: 4,495,913
• PEG Ratio: <0.01
• Price to Book (P/B): 0.49
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 6.44
• Enterprise Value/Market Cap: 1.63
• Enterprise Value/Revenue: 0.09
• Enterprise Value/Gross Profit: 2.15
• Enterprise Value/Ebitda: 0.93
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 67 Neutral
• 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 Business Overview & Revenue Model

Company Description

Golden 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 Money

Golden 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

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

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

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
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
7.05B	10.91B	9.76B	11.44B	10.18B	7.08B
	Gross Profit
973.47M	2.05B	1.85B	3.03B	2.35B	1.15B
	EBIT
139.38M	611.44M	476.04M	1.46B	728.59M	305.91M
	EBITDA
384.01M	1.16B	972.37M	1.82B	1.25B	646.51M
	Net Income Common Stockholders
38.37M	364.55M	197.60M	782.10M	476.18M	31.75M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
354.98M	999.83M	1.14B	1.15B	666.02M	1.10B
	Total Assets
8.31B	10.69B	9.72B	9.90B	9.61B	9.13B
	Total Debt
3.07B	3.71B	3.06B	2.98B	3.00B	3.15B
	Net Debt
2.91B	3.30B	2.52B	2.29B	2.50B	2.74B
	Total Liabilities
4.21B	5.32B	4.54B	4.65B	4.72B	4.69B
	Stockholders Equity
4.05B	5.10B	4.93B	5.00B	4.68B	4.25B
Cash Flow		Free Cash Flow
150.37M	-410.47M	238.22M	885.48M	357.68M	543.11M
	Operating Cash Flow
654.81M	-80.91M	554.54M	1.09B	564.79M	743.86M
	Investing Cash Flow
-752.14M	-626.21M	-604.61M	-705.86M	-196.19M	-320.61M
	Financing Cash Flow
-46.14M	680.07M	-175.97M	-292.87M	-282.66M	-231.20M

Golden Agri-Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
E5H	67 Neutral	$3.17B	6.51	7.27%	3.22%	11.22%	84.13%
Sector *	65 Neutral	$8.92B	15.03	4.68%	6.11%	3.59%	-2.49%
FTROF		$1.76B	7.70	18.32%	7.97%	―	―
OLGPF		$2.74B	63.62	1.32%	5.31%	―	―
WLMIF		$14.78B	12.59	5.84%	5.08%	―	―
2BU		€915.24M	6.83	16.33%	8.79%	―	―
5JS	70 Outperform	S$432.73M	4.59	7.94%	3.23%	-4.59%	74.87%

Golden Agri-Resources Corporate Events

Golden Agri-Resources Ltd Conducts 2025 Annual Meeting

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

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.