Food Empire Holdings Limited (SG:F03)
SGX:F03
Want to see SG:F03 full AI Analyst Report?
Top Page
Food Empire Holdings Limited
(SGX:F03)
Select Model
Select Model
Rating:63Neutral
Price Target:
S$3.50
▲(12.18% Upside)
Action:Reiterated
Date:06/03/26
The score is driven primarily by solid-but-uneven fundamentals: healthy operating margins and a strong 2025 cash flow rebound, tempered by the 2025 revenue drop and weaker net profitability/ROE. Technicals are mildly constructive with price above major moving averages but mixed momentum indicators. Valuation is the main drag due to a high P/E, only partly balanced by the dividend yield.
Positive Factors
Strong operating profitability
Sustained operating and EBITDA margins near mid-teens indicate durable cost controls, pricing power and manufacturing efficiency in branded instant beverages. This operating profitability supports cash generation and resilience across cycles, underpinning long-term earnings stability.
Negative Factors
2025 revenue setback
A roughly 10% revenue drop after multi-year expansion signals potential demand weakness, market share pressure or regional exposure risks. Persistent top-line contraction would erode scale benefits, constrain margin leverage and limit predictable earnings growth over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong operating profitability
Sustained operating and EBITDA margins near mid-teens indicate durable cost controls, pricing power and manufacturing efficiency in branded instant beverages. This operating profitability supports cash generation and resilience across cycles, underpinning long-term earnings stability.
Read all positive factors
Food Empire Holdings Limited (F03) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.37B
Dividend Yield4.6%
Average Volume (3M)1.79M
Price to Earnings (P/E)37.7
Beta (1Y)1.06
Revenue Growth18.40%
EPS Growth-36.45%
CountrySG
Employees4,450
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)0.08
Shares Outstanding661,713,400
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$3.63Price Target Upside16.35% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.12
Revenue Forecast (FY)S$634.94M
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 makes money mainly by selling branded consumer packaged goods—primarily instant coffee mixes and other instant beverage products—through a mix of direct distribution and third-party distributors across its operating markets. Revenue is...
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
Neutral
3.12
Price Trends
2.53
Negative
2.44
Positive
2.20
Positive
Market Momentum
>-0.01
Positive
48.76
Neutral
52.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:F03, the sentiment is Neutral. The current price of 3.12 is above the 20-day moving average (MA) of 2.52, above the 50-day MA of 2.53, and above the 200-day MA of 2.20, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 48.76 is Neutral, neither overbought nor oversold. The STOCH value of 52.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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$601.99M | 24.10 | 7.15% | 3.56% | -2.70% | -4.71% | |
69 Neutral | S$2.11B | 17.98 | 3.66% | 3.10% | -2.52% | -6.24% | |
63 Neutral | S$1.37B | 37.70 | 8.55% | 4.60% | 18.40% | -36.45% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
48 Neutral | S$173.01M | -0.19 | 102.98% | ― | -65.91% | -318.51% |
* Consumer Defensive Sector Average
SG:F03
Food Empire Holdings Limited
2.51
1.05
72.39%
SG:D03
Del Monte Pacific
0.09
0.02
31.34%
SG:F99
Fraser & Neave
1.45
0.25
21.24%
SG:P34
Delfi
0.98
0.24
32.25%
SG:Y03
Yeo Hiap Seng Ltd
0.60
0.06
11.73%
SG:K03
Khong Guan Limited
0.92
0.07
8.24%
Food Empire Holdings Limited Corporate Events
Food Empire’s MacCoffee Extends 3‑in‑1 Coffee Reign in Uzbekistan to Fifth Year
May 28, 2026
Food Empire Holdings’ flagship brand MacCoffee has been named “Leader among 3-in-1 Coffee Brands in Uzbekistan in 2025” at the Brand Awards International 2026, marking its fifth consecutive year at the top of this fast‑grow...
Food Empire Uses Treasury Shares for Employee Option Scheme
May 28, 2026
Food Empire Holdings Limited has transferred 120,000 treasury shares from its share buyback account to fulfill obligations under its employees’ share option schemes. The move reduces its treasury share balance from 813,074 to 693,074 shares,...
Food Empire posts record Q1 revenue, launches bonus issue to lift liquidity
May 13, 2026
Food Empire opened FY2026 with record first-quarter revenue of US$159.7 million, up 16.9% year on year, driven by strong performances in Russia, Central Asia and Southeast Asia, as well as full-capacity utilisation at its coffee manufacturing plan...
Food Empire shareholders back board, approve 2025 dividends at AGM
May 12, 2026
Food Empire Holdings Limited held its 2026 annual general meeting in Singapore, where shareholders received and adopted the directors’ statement and audited financial statements for the year ended 31 December 2025. The board reaffirmed its e...
Food Empire Uses Treasury Shares for Employee Option Scheme
May 4, 2026
Food Empire Holdings Limited has transferred 22,500 treasury shares from its share buyback account on 4 May 2026 to fulfill obligations under its Employees’ Share Option Schemes, reducing its treasury share balance from 235,574 to 213,074. T...
Food Empire’s MacCoffee climbs in ranking of Singapore’s most valuable brands
May 4, 2026
Flagship brand MacCoffee has climbed three spots to rank 51st in Brand Finance’s Top 100 Most Valuable Singaporean Brands 2026, marking its second consecutive appearance on the list. The shift from corporate-level recognition to a direct lis...
Food Empire Transfers Treasury Shares for Employee Option Scheme
Apr 27, 2026
Food Empire Holdings Limited has transferred 55,000 treasury shares from its share buyback account to satisfy obligations under its Employees’ Share Option Schemes. The move reduces its treasury shareholding from 290,574 to 235,574 shares, r...
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...
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.