Food Empire Holdings Limited (SG:F03)
SGX:F03
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Food Empire Holdings Limited
(SGX:F03)
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Rating:67Neutral
Price Target:
S$3.00
▼(-3.85% Downside)
Action:ReiteratedDate:02/27/26
The score is driven primarily by solid (but recently volatile) financial performance—moderate leverage and healthy operating margins, tempered by 2025 weakness in revenue growth and net profitability. Technicals add support due to a strong uptrend and positive momentum. Valuation is the main drag given the high P/E, only partly balanced by the dividend yield.
Positive Factors
Established international branded distribution
Food Empire's multi‑market branded distribution is a durable competitive asset: proprietary brands plus established wholesaler/distributor and retail relationships across Eastern Europe, CIS and Asia diversify demand and support recurring unit sales and shelf presence over multiple cycles.
Negative Factors
Recent revenue decline and growth volatility
A significant year decline signals demand, channel or FX pressures that can persist and erode scale advantages. Reduced top-line momentum may limit operating leverage, complicate forecasting and require higher marketing or promotional spend to restore volume growth across international markets.
Read all positive and negative factors
Positive Factors
Negative Factors
Established international branded distribution
Food Empire's multi‑market branded distribution is a durable competitive asset: proprietary brands plus established wholesaler/distributor and retail relationships across Eastern Europe, CIS and Asia diversify demand and support recurring unit sales and shelf presence over multiple cycles.
Read all positive factors
Food Empire Holdings Limited (F03) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.66B
Dividend Yield4.6%
Average Volume (3M)1.79M
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue Growth18.40%
EPS Growth-36.46%
CountrySG
Employees4,450
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)0.08
Shares Outstanding551,427,800
10 Day Avg. Volume1,172,280
30 Day Avg. Volume1,792,670
Financial Highlights & Ratios
PEG Ratio-0.84
Price to Book (P/B)2.77
Price to Sales (P/S)1.74
P/FCF Ratio16.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$3.95Price Target Upside26.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.15
Revenue Forecast (FY)S$639.27M
Food Empire Holdings Limited Business Overview & Revenue Model
Company Description
Food Empire Holdings Limited, an investment holding company, operates as a branding and manufacturing company specializing in the food and beverage industry. Its products include instant beverage products, frozen convenience food, confectionery, a...
How the Company Makes Money
Food Empire primarily makes money by selling branded consumer packaged goods—most notably 2-in-1 and 3-in-1 instant coffee mixes and other instant beverage products—through wholesalers, distributors, retailers, and other trade channels in the coun...
Food Empire Holdings Limited Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
73
Positive
Cash Flow
69
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 650.71M | 585.85M | 476.35M | 425.71M | 398.36M | 320.07M |
| Gross Profit | 205.32M | 196.51M | 144.39M | 141.45M | 118.84M | 93.66M |
| EBITDA | 108.18M | 107.35M | 81.11M | 79.30M | 61.34M | 34.00M |
| Net Income | 41.87M | 36.55M | 52.53M | 56.51M | 60.10M | 19.50M |
Balance Sheet | ||||||
| Total Assets | 494.21M | 565.99M | 460.08M | 402.90M | 381.50M | 340.04M |
| Cash, Cash Equivalents and Short-Term Investments | 135.32M | 181.44M | 130.85M | 131.94M | 125.60M | 60.56M |
| Total Debt | 96.73M | 102.68M | 82.85M | 41.10M | 44.62M | 53.32M |
| Total Liabilities | 180.68M | 195.94M | 163.99M | 108.41M | 105.90M | 113.48M |
| Stockholders Equity | 310.97M | 367.78M | 293.82M | 295.64M | 276.70M | 227.72M |
Cash Flow | ||||||
| Free Cash Flow | 37.52M | 60.32M | 1.09M | 38.06M | 58.64M | 8.02M |
| Operating Cash Flow | 65.92M | 86.70M | 25.52M | 50.58M | 72.83M | 14.67M |
| Investing Cash Flow | -24.56M | -26.29M | -18.34M | -12.37M | 18.98M | -5.80M |
| Financing Cash Flow | 17.07M | -11.63M | -5.74M | -31.54M | -26.22M | -17.01M |
Food Empire Holdings Limited Technical Analysis
Positive
3.12
Price Trends
3.08
Positive
2.81
Positive
2.58
Positive
Market Momentum
0.02
Negative
51.71
Neutral
72.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:F03, the sentiment is Positive. The current price of 3.12 is above the 20-day moving average (MA) of 3.10, above the 50-day MA of 3.08, and above the 200-day MA of 2.58, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 51.71 is Neutral, neither overbought nor oversold. The STOCH value of 72.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:F03.
Food Empire Holdings Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | S$623.38M | ― | 7.15% | 3.56% | -2.70% | -4.71% | |
69 Neutral | S$2.11B | 15.54 | 3.66% | 3.10% | -2.52% | -6.24% | |
67 Neutral | S$1.66B | ― | 8.55% | 4.60% | 18.40% | -36.46% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
48 Neutral | S$163.29M | 3.34 | 102.98% | ― | -65.91% | -318.51% |
* Consumer Defensive Sector Average
SG:F03
Food Empire Holdings Limited
3.05
1.60
110.49%
SG:D03
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23.53%
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0.25
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SG:Y03
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SG:K03
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0.10
12.21%
Food Empire Holdings Limited Corporate Events
Food Empire Transfers Treasury Shares for Employee Option Schemes
Mar 9, 2026
Food Empire Holdings Limited has transferred 572,000 treasury shares on 9 March 2026 to fulfill obligations under its Employees’ Share Option Schemes, reducing its treasury share balance from 1,632,574 to 1,060,574 shares. The move, valuing ...
Food Empire Transfers Treasury Shares for Employee Option Scheme
Mar 6, 2026
Food Empire Holdings has transferred 400,000 treasury shares from its share buyback account to fulfill obligations under its employees’ share option schemes, reducing its treasury share balance from 2,032,574 to 1,632,574. The move, valued a...
Food Empire Cuts Treasury Stock with Share Transfer for Employee Options
Mar 4, 2026
Food Empire Holdings Limited has transferred 185,000 treasury shares from its share buyback account on 4 March 2026 to fulfill obligations under its employees’ share option schemes. Following the transfer, the company’s treasury shareh...
Food Empire Details Deployment of Note and Share Placement Proceeds
Feb 25, 2026
Food Empire Holdings Limited has updated investors on the deployment of proceeds from its US$40 million, 5.5% redeemable exchangeable notes and S$42.84 million raised via a placement of 17 million treasury shares. The group reported that US$19.1 m...
Food Empire Sells 1 Million Treasury Shares to Institutional Investor
Jan 23, 2026
Food Empire Holdings Limited has sold 1,000,000 treasury shares at S$2.75 per share via a married deal to a reputable institutional investor, raising approximately S$1.95 million in cash. The transaction, intended to enhance general working capita...
Food Empire Sells 1 Million Treasury Shares to Institutional Investor
Jan 21, 2026
Food Empire Holdings Limited has sold 1,000,000 treasury shares at S$2.635 per share to a reputable international institutional investor via a married deal, raising approximately S$1.95 million in cash. The transaction, aimed at enhancing general ...
Food Empire Transfers Treasury Shares for Employee Share Option Schemes
Jan 16, 2026
Food Empire Holdings Limited has executed a transfer of 10,000 treasury shares from its share buyback account on 16 January 2026 to fulfil obligations under its Employees’ Share Option Schemes. Following the transfer, the company’s tre...
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.