Wilmar International (F34) AI Stock Analysis

• Market Cap: $17.79B
• Dividend Yield: 4.91%
• Average Volume (3M): 5.53M
• Price to Earnings (P/E): 11.5
• Beta (1Y): 0.47
• 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): 0.12
• Shares Outstanding: 6,403,401,000
• 10 Day Avg. Volume: 5,300,231
• 30 Day Avg. Volume: 5,533,661
• 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: 2.77
• Enterprise Value/Revenue: 0.59
• Enterprise Value/Gross Profit: 7.45
• Enterprise Value/Ebitda: 14.20
• 1Y Price Target: $3.07
• Price Target Upside: 7.88% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5

• Rating: 63 Neutral
• Price Target: S$3.00 ▲(5.26% Upside)

Wilmar International's overall stock score is driven by stable financial performance and attractive valuation. However, technical indicators suggest weak momentum, and challenges in profitability and cash flow management pose risks. The stock's reasonable valuation and strong dividend yield are significant positives.

Positive Factors

Negative Factors

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 makes money through its extensive and integrated supply chain operations in the agribusiness sector. The company generates revenue primarily from the production and sale of processed agricultural products, including edible oils, oilseeds, grains, and sugar. Wilmar's key revenue streams include the sale of consumer-packaged products under various brands, bulk sales of commodities to industrial and institutional clients, and the sale of specialty fats and oleochemicals used in food manufacturing and industrial applications. The company also benefits from its strategic investments and partnerships in joint ventures, which enhance its market reach and operational efficiency. Additionally, Wilmar leverages its global distribution network to optimize its supply chain and capitalize on emerging market opportunities, contributing to its overall earnings.

Wilmar International Financial Statement Overview

Summary

Wilmar International shows stable revenue growth and operational efficiency but faces challenges in profitability and cash flow management. Increasing leverage and declining return on equity pose risks. The company maintains a strong asset base, yet needs to focus on improving profitability and cash flow.

Income Statement

The company has shown a consistent revenue growth trajectory, evident from the increase from 2020 to 2023. Gross profit margin has been stable, with a slight dip in the latest year. Net profit margin experienced a decline recently, mainly due to reduced net income. EBIT and EBITDA margins have seen slight fluctuations, but remain relatively stable, indicating consistent operational efficiency. The reduction in net income in the latest year compared to 2022 is a concern but overall income stability remains positive.

Balance Sheet

The balance sheet reveals a rising debt-to-equity ratio over the years, indicating increased leverage. Total assets have grown, but equity growth has been slower, impacting the equity ratio negatively. Return on equity has reduced due to lower net income, highlighting a potential risk. Despite these issues, the company maintains a stable asset base and liquidity position, as shown by steady cash and cash equivalents.

Cash Flow

Cash flow performance has been mixed, with a significant drop in operating cash flow in the latest year. Free cash flow has turned negative again after a positive year in 2023, suggesting challenges in managing cash expenditures. The operating cash flow to net income ratio has decreased, indicating reduced cash conversion efficiency. Despite these concerns, a prior positive free cash flow in 2023 shows potential for cash flow recovery.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	83.53B	67.38B	67.16B	73.40B	65.79B	50.53B
Gross Profit	6.62B	5.21B	5.27B	6.55B	7.21B	5.60B
EBITDA	3.47B	4.25B	4.43B	5.16B	4.51B	4.03B
Net Income	1.55B	1.17B	1.52B	2.40B	1.89B	1.53B
Balance Sheet
Total Assets	55.72B	59.57B	61.81B	60.40B	58.72B	51.02B
Cash, Cash Equivalents and Short-Term Investments	10.39B	10.46B	10.51B	8.34B	7.90B	8.69B
Total Debt	26.81B	28.35B	30.94B	30.66B	29.38B	23.41B
Total Liabilities	33.45B	37.18B	39.06B	37.80B	36.12B	29.64B
Stockholders Equity	19.77B	19.86B	20.17B	19.99B	19.92B	18.88B
Cash Flow
Free Cash Flow	419.71M	-200.12M	1.60B	-435.37M	-2.57B	-1.42B
Operating Cash Flow	2.98B	1.37B	3.89B	2.05B	-45.04M	552.79M
Investing Cash Flow	648.85M	-918.24M	-2.46B	-2.46B	-2.36B	-1.81B
Financing Cash Flow	-5.14B	-1.79B	113.23M	667.23M	2.41B	1.79B

Wilmar International Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.85
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• 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 Negative. The current price of 2.85 is below the 20-day moving average (MA) of 2.93, below the 50-day MA of 2.93, and below the 200-day MA of 2.98, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 33.39 is Neutral, neither overbought nor oversold. The STOCH value of 23.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:F34.

Wilmar International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
E5H	72 Outperform	S$3.74B	6.69	7.15%	2.73%	16.86%	252.80%
5JS	71 Outperform	S$509.51M	5.30	7.82%	2.74%	13.03%	35.10%
EB5	71 Outperform	S$2.58B	6.63	17.82%	6.55%	24.70%	62.15%
P8Z	69 Neutral	S$1.96B	8.81	16.09%	8.03%	15.89%	21.52%
F34	63 Neutral	$17.79B	11.49	5.86%	4.91%	3.92%	-25.13%
VC2	61 Neutral	S$3.78B	10.92	1.23%	2.00%	-11.89%	50.41%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%

Wilmar International Corporate Events

Wilmar’s Subsidiary YKA Reports Strong 1H2025 Financial Results

Wilmar International’s subsidiary, Yihai Kerry Arawana Holdings Co., Ltd, reported strong financial results for the first half of 2025, with a 5.67% increase in revenue and a significant 60.07% rise in profit attributable to owners. The results highlight a substantial improvement in operational cash flow, which surged by 793.97%, indicating robust business performance and potential positive implications for stakeholders and market positioning.

The most recent analyst rating on (SG:F34) stock is a Hold with a S$3.44 price target. To see the full list of analyst forecasts on Wilmar International stock, see the SG:F34 Stock Forecast page.

Wilmar International Faces Investigation Over Rice Quality Allegations

Wilmar International Limited is currently under investigation by the Indonesian National Police Food Task Force due to alleged rice quality violations involving its subsidiary, PT Padi Indonesia Maju. Three employees from PT PIM, including its President Director, have been named as suspects for allegedly selling rice that does not meet packaging quality standards. Wilmar denies these allegations and is cooperating with authorities to resolve the matter.

The most recent analyst rating on (SG:F34) stock is a Hold with a S$3.44 price target. To see the full list of analyst forecasts on Wilmar International stock, see the SG:F34 Stock Forecast page.

Wilmar International Faces Investigation Over Rice Quality Allegations

Wilmar International is currently under investigation by the Indonesian National Police Food Task Force for alleged violations of rice quality and measurement standards. The company denies these allegations and is cooperating with authorities to resolve the matter, which could impact its operations and reputation in the agribusiness sector.

The most recent analyst rating on (SG:F34) stock is a Hold with a S$3.44 price target. To see the full list of analyst forecasts on Wilmar International stock, see the SG:F34 Stock Forecast page.