Food Empire Holdings Limited (F03) AI Stock Analysis

• Market Cap: S$1.36B
• Dividend Yield: 4.6%
• Average Volume (3M): 1.79M
• Price to Earnings (P/E): 36.3
• Beta (1Y): 0.90
• Revenue Growth: 13.97%
• EPS Growth: -49.60%
• Country: SG
• Employees: 4,450
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Beverages - Non-Alcoholic
• EPS (TTM): >-0.01
• Shares Outstanding: 550,143,000
• 10 Day Avg. Volume: 1,172,280
• 30 Day Avg. Volume: 1,792,670
• PEG Ratio: -0.78
• Price to Book (P/B): 1.30
• Price to Sales (P/S): 0.80
• P/FCF Ratio: 348.52
• 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$3.18
• Price Target Upside: 26.69% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: S$3.00 ▲(19.52% Upside)

Food Empire Holdings Limited shows strong operational efficiency and financial stability, contributing positively to its score. However, liquidity concerns and a high P/E ratio suggest caution. Technical indicators show bullish momentum, but the stock may be overvalued. The absence of earnings call and corporate events data limits further insights.

Positive Factors

Strong Brand Recognition

The strong brand recognition of 'MacCoffee' enhances market position and customer loyalty, supporting long-term revenue stability and growth.

Solid Balance Sheet

A solid balance sheet with low leverage provides financial stability, enabling the company to invest in growth opportunities and withstand economic downturns.

Healthy Profit Margins

Sustained healthy profit margins indicate efficient cost management and pricing power, contributing to long-term profitability and competitive advantage.

Negative Factors

Revenue Decline

A significant revenue decline poses a risk to growth prospects and could impact the company's ability to invest in future initiatives.

Cash Flow Challenges

Severe cash flow challenges can strain liquidity, limiting the company's ability to fund operations and growth, potentially affecting long-term viability.

EPS Decline

A significant decline in EPS growth indicates potential profitability issues, which could undermine investor confidence and affect future capital raising.

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, and snacks. The company provides regular and flavored coffee mixes and cappuccinos, instant chocolate, and flavored fruit teas and cereal drinks; markets instant breakfast cereal, frozen food, and snack items; and offers coffee capsules. In addition, it engages in the distribution, procurement, wholesale, and trade of beverage products; general trading activities; import, export, and distribution of food products; procurement and sale of raw materials, processed and non-processed food, and finished goods; management and finance support activities; ownership and leasing of factory space and equipment; sale of rights to use intellectual property against royalty rights; office administrative activities; and operation of cafes and restaurants. The company offers its products under the MacCoffee, Petrovskaya Sloboda, Café PHO, Klassno, CafeRite, NutriRite, Hillway, OrienBites, and Kracks brands. The company sells its products to approximately 50 countries, including Russia, Vietnam, Ukraine, Kazakhstan, Central Asia, the Middle East, China, Mongolia, and North America. Food Empire Holdings Limited was founded in 1992 and is headquartered in Singapore.

How the Company Makes Money

Food Empire Holdings generates revenue primarily through the sale of its food and beverage products, with key revenue streams coming from its instant coffee products, snacks, and frozen food offerings. The company benefits from its strong brand recognition, particularly in the instant coffee segment, which contributes significantly to its sales. Additionally, Food Empire has established strategic partnerships and distribution agreements that enhance its market reach and operational efficiency. The company also explores new market opportunities and product innovations to drive growth and increase its earnings potential.

Food Empire Holdings Limited Financial Statement Overview

Summary

Food Empire Holdings Limited demonstrates a mixed financial performance. The income statement shows strong profitability margins despite a decline in revenue, indicating operational efficiency. The balance sheet is solid with low leverage and strong equity, reflecting financial stability. However, the cash flow statement presents challenges with declining free cash flow and low cash conversion ratios, suggesting potential liquidity issues. Overall, the company is profitable and stable but needs to improve cash flow management.

Income Statement

Food Empire Holdings Limited has shown a mixed performance in its income statement. The company experienced a significant revenue decline of 17.28% in the most recent year, which is a concern. However, the gross profit margin remains healthy at 30.31%, and the net profit margin is solid at 11.03%. The EBIT and EBITDA margins are also strong at 14.58% and 17.03%, respectively, indicating good operational efficiency. Despite the revenue drop, the company maintains profitability, which is a positive sign.

Balance Sheet

The balance sheet of Food Empire Holdings Limited is stable with a low debt-to-equity ratio of 0.28, indicating low financial leverage. The return on equity is robust at 17.88%, reflecting effective use of equity to generate profits. The equity ratio stands at 63.87%, suggesting a strong equity base relative to total assets. Overall, the balance sheet reflects financial stability and prudent management of liabilities.

Cash Flow

The cash flow statement reveals challenges, particularly with a sharp decline in free cash flow growth by 94.89%. The operating cash flow to net income ratio is low at 0.26, indicating that cash generation from operations is not keeping pace with net income. The free cash flow to net income ratio is also low at 4.29%, suggesting limited free cash flow relative to net income. These factors highlight potential liquidity concerns that need to be addressed.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	650.71M	476.35M	425.71M	398.36M	320.07M	272.97M
Gross Profit	205.32M	144.39M	141.45M	118.84M	93.66M	104.65M
EBITDA	108.18M	81.11M	79.30M	61.34M	34.00M	40.12M
Net Income	41.87M	52.53M	56.51M	60.10M	19.50M	26.79M
Balance Sheet
Total Assets	494.21M	460.08M	402.90M	381.50M	340.04M	312.64M
Cash, Cash Equivalents and Short-Term Investments	135.32M	130.85M	131.94M	125.60M	60.56M	69.04M
Total Debt	96.73M	82.85M	41.10M	44.62M	53.32M	58.13M
Total Liabilities	180.68M	163.99M	108.41M	105.90M	113.48M	95.68M
Stockholders Equity	310.97M	293.82M	295.64M	276.70M	227.72M	218.02M
Cash Flow
Free Cash Flow	37.52M	1.09M	38.06M	58.64M	8.02M	21.34M
Operating Cash Flow	65.92M	25.52M	50.58M	72.83M	14.67M	33.35M
Investing Cash Flow	-24.56M	-18.34M	-12.37M	18.98M	-5.80M	-11.08M
Financing Cash Flow	17.07M	-5.74M	-31.54M	-26.22M	-17.01M	-7.92M

Food Empire Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.51
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 2.51 is above the 20-day moving average (MA) of 2.42, above the 50-day MA of 2.45, and above the 200-day MA of 2.11, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 58.38 is Neutral, neither overbought nor oversold. The STOCH value of 83.55 is Negative, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5JS	74 Outperform	S$516.48M	5.37	8.46%	2.67%	13.03%	35.10%
Q01	70 Outperform	S$535.00M	20.48	5.51%	5.62%	-0.51%	-25.57%
P34	68 Neutral	S$479.76M	13.63	10.03%	3.56%	-4.54%	-35.71%
F03	66 Neutral	S$1.36B	36.32	9.42%	4.60%	13.97%	-49.60%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
MV4	62 Neutral	S$450.20M	5.87	7.17%	2.72%	47.72%	16.14%

Food Empire Holdings Limited Corporate Events

Food Empire Transfers 160,000 Treasury Shares for Employee Share Options

Food Empire Holdings Limited has transferred 160,000 treasury shares from its share buyback account to fulfill obligations under its Employees’ Share Option Schemes, reflecting the use of equity-based incentives to reward and retain staff. Following the transfer on 30 December 2025, the group’s treasury shareholding decreased from 3,392,874 to 3,232,874 shares, reducing its treasury stock from 0.621% to 0.591% of outstanding ordinary shares, with the transferred block valued at S$290,210.32 based on the weighted average cost, a modest capital management move with limited impact on overall shareholder structure.

The most recent analyst rating on (SG:F03) stock is a Hold with a S$3.00 price target. To see the full list of analyst forecasts on Food Empire Holdings Limited stock, see the SG:F03 Stock Forecast page.

Food Empire Executes Treasury Shares Transfer for Employee Scheme

Food Empire Holdings Limited has transferred 10,000 treasury shares, amounting to S$16,367.30, as part of its Employees’ Share Option Scheme. This transaction slightly adjusts the company’s treasury shares held and reflects its commitment to aligning employee interests with corporate growth and performance, ensuring long-term value for stakeholders.

The most recent analyst rating on (SG:F03) stock is a Buy with a S$3.18 price target. To see the full list of analyst forecasts on Food Empire Holdings Limited stock, see the SG:F03 Stock Forecast page.

Food Empire Transfers Treasury Shares for Employee Incentives

Food Empire Holdings Limited has announced the transfer of 460,000 treasury shares as part of its Employees’ Share Option Schemes. This transfer reduces the company’s treasury shares from 2,312,874 to 1,852,874, reflecting a decrease in the percentage of treasury shares against the total number of ordinary shares outstanding. The move is valued at S$607,955.82 and demonstrates the company’s commitment to employee incentives, potentially impacting its operational dynamics and stakeholder relations.

The most recent analyst rating on (SG:F03) stock is a Buy with a S$3.18 price target. To see the full list of analyst forecasts on Food Empire Holdings Limited stock, see the SG:F03 Stock Forecast page.

Food Empire Transfers Treasury Shares for Employee Incentives

Food Empire Holdings Limited has announced the transfer of 1,682,500 treasury shares from its Share Buyback Account to fulfill obligations under its Employees’ Share Option Schemes. This transfer reduces the company’s treasury shares from 3,845,374 to 2,162,874, which represents a decrease in the percentage of treasury shares against the total number of ordinary shares outstanding from 0.704% to 0.395%. The value of the transferred shares is S$2,092,734.24. This move is likely aimed at incentivizing employees and aligning their interests with the company’s performance, potentially impacting employee satisfaction and retention positively.

The most recent analyst rating on (SG:F03) stock is a Buy with a S$3.18 price target. To see the full list of analyst forecasts on Food Empire Holdings Limited stock, see the SG:F03 Stock Forecast page.

Food Empire Achieves Record Revenue Growth in 2025

Food Empire Holdings Limited is on track for its fifth consecutive year of record revenue, with a 23.9% increase in nine-month revenue for 2025, reaching US$426.7 million. This growth is primarily driven by strong performances in Russia, Ukraine, Kazakhstan, and CIS regions, highlighting the company’s robust market positioning and potential positive implications for stakeholders.

The most recent analyst rating on (SG:F03) stock is a Hold with a S$2.50 price target. To see the full list of analyst forecasts on Food Empire Holdings Limited stock, see the SG:F03 Stock Forecast page.

Food Empire Triumphs at The Edge Singapore Billion Dollar Club Awards 2025

Food Empire Holdings Limited achieved a significant milestone by winning five awards at The Edge Singapore Billion Dollar Club Awards Gala 2025, including the prestigious ‘Company of the Year’ in the Centurion category. This recognition highlights the company’s exceptional financial strength and sustainable growth, reinforcing its position as a leader in the food and beverage industry and demonstrating its commitment to long-term value creation for stakeholders.

The most recent analyst rating on (SG:F03) stock is a Hold with a S$2.50 price target. To see the full list of analyst forecasts on Food Empire Holdings Limited stock, see the SG:F03 Stock Forecast page.

Food Empire Transfers Treasury Shares for Employee Incentive

Food Empire Holdings Limited announced the transfer of 60,000 treasury shares as part of its Employees’ Share Option Schemes. This transfer reduces the company’s treasury shares from 3,905,374 to 3,845,374, slightly decreasing the percentage of treasury shares against the total number of ordinary shares outstanding from 0.715% to 0.704%. This move is part of the company’s ongoing efforts to incentivize employees and align their interests with corporate goals, potentially impacting shareholder value and employee engagement.

The most recent analyst rating on (SG:F03) stock is a Hold with a S$2.50 price target. To see the full list of analyst forecasts on Food Empire Holdings Limited stock, see the SG:F03 Stock Forecast page.

Food Empire Transfers Treasury Shares for Employee Incentives

Food Empire Holdings Limited announced the transfer of 375,000 treasury shares as part of its Employees’ Share Option Schemes. This transfer reduces the company’s treasury shares from 3,478,274 to 3,103,274, reflecting a slight decrease in the percentage of treasury shares against the total number of ordinary shares outstanding. The transfer, valued at S$336,542.47, indicates the company’s commitment to employee incentives and may impact its financial metrics and shareholder value.

The most recent analyst rating on (SG:F03) stock is a Buy with a S$3.09 price target. To see the full list of analyst forecasts on Food Empire Holdings Limited stock, see the SG:F03 Stock Forecast page.