Wilmar International (F34) AI Stock Analysis

• Market Cap: S$21.60B
• Dividend Yield: 4.55%
• Average Volume (3M): 7.04M
• Price to Earnings (P/E): 13.8
• Beta (1Y): 0.43
• Revenue Growth: 3.92%
• EPS Growth: -25.13%
• Country: SG
• Employees: 100,000
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Agricultural Farm Products
• EPS (TTM): 0.06
• Shares Outstanding: 6,403,401,000
• 10 Day Avg. Volume: 7,501,160
• 30 Day Avg. Volume: 7,039,910
• PEG Ratio: -0.58
• Price to Book (P/B): 0.71
• Price to Sales (P/S): 0.21
• P/FCF Ratio: -70.67
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: S$3.50 ▲(3.24% Upside)

Wilmar International's stock is supported by strong technical indicators and reasonable valuation, making it an attractive option for investors. However, financial performance is moderate due to challenges in cash flow and margin management, which slightly dampens the overall score.

Positive Factors

Child Protection Leadership

Wilmar's commitment to child protection enhances its corporate reputation and strengthens stakeholder trust, supporting long-term sustainability.

Subsidiary Performance

Strong subsidiary performance boosts Wilmar's overall profitability and market position, indicating effective operational strategies.

Supply Chain Efficiency

Efficient supply chain management ensures steady raw material flow and cost control, supporting long-term profitability and competitiveness.

Negative Factors

Legal Challenges

Ongoing legal issues could lead to financial and reputational risks, potentially impacting operations and stakeholder confidence.

Margin Pressures

Margin pressures suggest inefficiencies or rising costs, which could hinder profitability and require strategic adjustments to maintain competitiveness.

High Leverage

High leverage increases financial risk and limits flexibility, necessitating careful debt management to avoid potential financial strain.

Wilmar International Business Overview & Revenue Model

Company Description

Wilmar International Limited operates as an agribusiness company in Singapore, South East Asia, the People's Republic of China, India, Europe, Australia/New Zealand, Africa, and internationally. The company operates through four segments: Food Products, Feed and Industrial Products, Plantation and Sugar Milling, and Others. The Food Products segment engages in processing, branding, and distribution of a range of edible food products, including vegetable oil produced from palm and oilseeds, sugar, flour, rice, noodles, specialty fats, snacks, bakery, and dairy products. The Feed and Industrial Products segment is involved in the processing, merchandising, and distribution of products, such as animal feeds, non-edible palm and lauric products, agricultural commodities, oleochemicals, gas oil, and biodiesel. The Plantation and Sugar Milling segment engages in the cultivation and milling of palm oil and sugarcane. The Others segment provides logistics and jetty port services. As of December 31, 2021, Wilmar International Limited owned an oil palm plantation covering an area 230,480 hectares in Indonesia, Malaysia, and Africa. The company was formerly known as Ezyhealth Asia Pacific Ltd and changed its name to Wilmar International Limited in July 2006. Wilmar International Limited was founded in 1991 and is headquartered in Singapore.

How the Company Makes Money

Wilmar International generates revenue through multiple streams primarily focused on agribusiness. Its key revenue sources include the processing of oilseeds and grains, which involves crushing soybeans and oil palm to produce cooking oils and other food products. The company also benefits from its extensive consumer products division, which sells branded food items directly to consumers. Additionally, Wilmar's sugar segment contributes significantly to its income through the production and trading of sugar. The company has established strong partnerships with farmers and suppliers, enhancing its supply chain efficiency and ensuring a steady flow of raw materials. Furthermore, Wilmar's strategic investments in logistics and transportation help optimize its distribution channels, contributing to its profitability.

Wilmar International Financial Statement Overview

Summary

Wilmar International demonstrates stable profitability with consistent revenue growth in the TTM, but faces challenges in maintaining margins and cash flow efficiency. The high leverage requires careful management to avoid financial strain. Overall, the company shows resilience but needs to address cash flow and margin pressures to enhance financial health.

Income Statement

Wilmar International shows a modest revenue growth of 1.43% in the TTM, with stable gross and net profit margins. However, the declining EBIT and EBITDA margins indicate potential cost pressures or inefficiencies. The revenue growth has been inconsistent, with a notable decline in 2023, but the recent TTM period shows recovery.

Balance Sheet

The company's debt-to-equity ratio is relatively high at 1.41, indicating significant leverage, which could pose risks if not managed carefully. However, the return on equity remains stable, suggesting effective use of equity to generate profits. The equity ratio is moderate, reflecting a balanced asset structure.

Cash Flow

Wilmar's cash flow performance is mixed, with a significant decline in free cash flow growth in the TTM. The operating cash flow to net income ratio is low, indicating potential challenges in converting profits into cash. The free cash flow to net income ratio is also low, suggesting limited cash generation relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	69.34B	67.38B	67.16B	73.40B	65.79B	50.53B
Gross Profit	5.37B	5.21B	5.27B	6.55B	7.21B	5.60B
EBITDA	3.51B	4.25B	4.43B	5.16B	4.51B	4.03B
Net Income	1.19B	1.17B	1.52B	2.40B	1.89B	1.53B
Balance Sheet
Total Assets	60.72B	59.57B	61.81B	60.40B	58.72B	51.02B
Cash, Cash Equivalents and Short-Term Investments	12.92B	10.46B	10.51B	8.34B	7.90B	8.69B
Total Debt	29.11B	28.61B	30.94B	30.66B	29.38B	23.41B
Total Liabilities	37.41B	37.18B	39.06B	37.80B	36.12B	29.64B
Stockholders Equity	20.67B	19.86B	20.17B	19.99B	19.92B	18.88B
Cash Flow
Free Cash Flow	122.11M	-200.12M	1.60B	-435.37M	-2.57B	-1.42B
Operating Cash Flow	1.38B	1.37B	3.89B	2.05B	-45.04M	552.79M
Investing Cash Flow	-4.38B	-918.24M	-2.46B	-2.46B	-2.36B	-1.81B
Financing Cash Flow	2.49B	-1.79B	113.23M	667.23M	2.41B	1.79B

Wilmar International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.39
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:F34, the sentiment is Positive. The current price of 3.39 is above the 20-day moving average (MA) of 3.29, above the 50-day MA of 3.17, and above the 200-day MA of 3.03, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 69.77 is Neutral, neither overbought nor oversold. The STOCH value of 77.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:F34.

Wilmar International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EB5	75 Outperform	S$3.32B	8.52	21.70%	5.19%	24.70%	62.15%
5JS	74 Outperform	S$544.40M	5.66	8.46%	2.67%	13.03%	35.10%
F34	69 Neutral	S$21.60B	13.76	5.86%	4.55%	3.92%	-25.13%
P8Z	67 Neutral	S$2.55B	11.47	20.72%	6.82%	15.89%	21.52%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
E5H	62 Neutral	S$3.68B	6.58	8.32%	2.87%	16.86%	252.80%
VC2	52 Neutral	S$3.46B	9.99	3.56%	5.26%	-11.89%	50.41%

Wilmar International Corporate Events

Wilmar International Announces Changes to Board Committees

Wilmar International Limited has announced changes to its Risk Management and Board Sustainability Committees, effective December 1, 2025. Mr. Kuok Khoon Hong will step down from both committees, with Mr. George Yong-Boon Yeo joining the Risk Management Committee and Mr. Soh Gim Teik joining the Board Sustainability Committee. These changes are in line with the company’s commitment to enhancing corporate governance by ensuring independent oversight of risk-related matters.

The most recent analyst rating on (SG:F34) stock is a Buy with a S$3.50 price target. To see the full list of analyst forecasts on Wilmar International stock, see the SG:F34 Stock Forecast page.

Yihai Kerry Arawana Subsidiary Appeals Criminal Judgment

Yihai Kerry Arawana Holdings Co., Ltd has announced that its subsidiary, Guangzhou Yihai, is involved in a legal proceeding concerning a criminal case. The subsidiary has lodged an appeal against a first-instance criminal judgment, and the second-instance hearing is yet to commence. The outcome of this legal matter remains uncertain, and its potential impact on the company’s current and future profits is not yet clear.

The most recent analyst rating on (SG:F34) stock is a Buy with a S$3.50 price target. To see the full list of analyst forecasts on Wilmar International stock, see the SG:F34 Stock Forecast page.

Yihai Kerry Arawana Faces Legal Challenges Amidst Fraud Allegations

Yihai Kerry Arawana Holdings Co., Ltd held an investor briefing where it was disclosed that Guangzhou Yihai, a subsidiary, was found guilty as an accomplice in a contract fraud case. This legal issue may impact the company’s reputation and stakeholder trust, given its previous accolades and substantial tax contributions.

The most recent analyst rating on (SG:F34) stock is a Buy with a S$3.50 price target. To see the full list of analyst forecasts on Wilmar International stock, see the SG:F34 Stock Forecast page.

Wilmar’s China Unit Appeals Fraud Case Verdict

Wilmar International’s subsidiary, Yihai Kerry Arawana Holdings, is appealing a court decision where its sub-unit, Guangzhou Yihai, was found guilty of contractual fraud involving a significant financial penalty. The case, which involves allegations of fraud against a state-owned company, Anhui Huawen, highlights potential legal and financial uncertainties for Wilmar, pending the appeal’s outcome.

The most recent analyst rating on (SG:F34) stock is a Buy with a S$3.50 price target. To see the full list of analyst forecasts on Wilmar International stock, see the SG:F34 Stock Forecast page.