Boustead Singapore (F9D) AI Stock Analysis

• Market Cap: S$905.48M
• Dividend Yield: 4.26%
• Average Volume (3M): 1.04M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.71
• Revenue Growth: -24.32%
• EPS Growth: 24.61%
• Country: SG
• Employees: 1,311
• Sector: Industrials
• Sector Strength: 72
• Industry: Conglomerates
• EPS (TTM): 0.07
• Shares Outstanding: 527,317,700
• 10 Day Avg. Volume: 1,356,460
• 30 Day Avg. Volume: 1,037,856
• PEG Ratio: 0.10
• Price to Book (P/B): 0.92
• Price to Sales (P/S): 1.01
• P/FCF Ratio: 7.85
• 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$2.45
• Price Target Upside: 36.87% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: S$2.50 ▲(39.66% Upside)
• Action: Upgraded Date: 10/29/25
• Date: Action: Upgraded 10/29/25

Boustead Singapore's strong financial performance, particularly its profitability and low leverage, is a key strength. The stock's positive technical indicators and attractive valuation further enhance its appeal. However, the decline in revenue growth and cash flow challenges are areas to monitor. Overall, the company is well-positioned but needs to address these issues for sustained success.

Positive Factors

Low leverage / strong balance sheet

A very low debt-to-equity ratio (0.07) and a strong ROE (16.35%) give Boustead durable financial flexibility. This reduces refinancing risk, supports bidding on large projects, cushions cyclical revenue swings, and enables capital allocation to growth or shareholder returns without heavy leverage.

Negative Factors

Declining revenue trend

Material negative revenue growth of ~24% is a persistent concern. For a project-driven business, declining top line reduces scale benefits, can raise per-project overhead, and limits reinvestment capacity. If sustained, it pressures long-term growth prospects and margin sustainability.

Boustead Singapore Business Overview & Revenue Model

Company Description

Boustead Singapore Limited, an investment holding company, provides energy-related engineering, real estate, and geospatial and healthcare technology solutions in Africa, the Asia Pacific, Australia and Oceania, Europe, the Middle East, and North ...

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Boustead Singapore Limited, an investment holding company, provides energy-related engineering, real estate, and geospatial and healthcare technology solutions in Africa, the Asia Pacific, Australia and Oceania, Europe, the Middle East, and North ...

How the Company Makes Money

Boustead Singapore generates revenue through several key streams, primarily from its engineering services, which include project management, design, and construction of infrastructure projects in the energy and water sectors. The company also earn...

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Boustead Singapore generates revenue through several key streams, primarily from its engineering services, which include project management, design, and construction of infrastructure projects in the energy and water sectors. The company also earn...

Boustead Singapore Financial Statement Overview

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	527.10M	767.57M	561.64M	631.81M	685.71M
Gross Profit	233.29M	226.74M	157.04M	144.75M	173.60M
EBITDA	134.50M	113.25M	81.42M	70.42M	224.81M
Net Income	95.05M	64.19M	45.33M	30.58M	113.07M
Balance Sheet
Total Assets	1.09B	1.11B	1.14B	1.08B	1.16B
Cash, Cash Equivalents and Short-Term Investments	344.74M	376.39M	332.39M	474.98M	484.97M
Total Debt	40.32M	38.57M	50.63M	68.68M	64.74M
Total Liabilities	494.31M	584.54M	566.98M	451.14M	498.53M
Stockholders Equity	581.39M	505.24M	453.04M	433.57M	446.95M
Cash Flow
Free Cash Flow	68.03M	91.31M	74.00M	51.21M	57.81M
Operating Cash Flow	76.94M	96.38M	76.91M	54.96M	61.55M
Investing Cash Flow	-10.83M	-44.15M	-46.89M	-57.00M	266.89M
Financing Cash Flow	-105.63M	-4.60M	-96.97M	-68.73M	-140.86M

Boustead Singapore Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.79
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:F9D, the sentiment is Negative. The current price of 1.79 is below the 20-day moving average (MA) of 1.96, below the 50-day MA of 2.00, and above the 200-day MA of 1.71, indicating a neutral trend. The MACD of -0.08 indicates Positive momentum. The RSI at 33.70 is Neutral, neither overbought nor oversold. The STOCH value of 19.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:F9D.

Boustead Singapore Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5LY	75 Outperform	S$550.27M	4.87	7.89%	0.60%	-0.58%	23.33%
1MZ	75 Outperform	S$569.37M	4.53	47.96%	―	―	―
F9D	74 Outperform	S$905.48M	―	17.60%	4.26%	-24.32%	24.61%
U96	65 Neutral	S$11.25B	10.88	18.30%	4.33%	-6.69%	6.76%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
BN4	57 Neutral	S$21.50B	―	8.75%	3.29%	-0.62%	34.52%
A04	53 Neutral	S$303.56M	―	12.80%	0.78%	―	―

Boustead Singapore Corporate Events