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Boustead Singapore (SG:F9D)
SGX:F9D

Boustead Singapore (F9D) AI Stock Analysis

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Boustead Singapore

(SGX:F9D)

Rating:76Outperform
Price Target:
Boustead Singapore's strong financial performance, characterized by robust revenue growth and profitability, is the key driver of its overall score. The technical analysis indicates neutrality, while the valuation suggests the stock may be undervalued with an attractive dividend yield. The absence of earnings call and corporate events data does not affect the assessment materially.

Boustead Singapore (F9D) vs. iShares MSCI Singapore ETF (EWS)

Boustead Singapore Business Overview & Revenue Model

Company DescriptionBoustead 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 and South America. The company designs, engineers, and supplies direct-fired process heater systems, waste heat recovery units, and related equipment for the oil and gas, petrochemical, and energy industries. It also designs, engineers, and supplies emergency shutdown and process control systems, including pneumatic and hydraulic, or safety programmable logic controller-based wellhead control panels and hydraulic power units; integrated control and safety shutdown systems; and topside automation systems, chemical injection skids, fire and gas systems, and supervisory control and data acquisition systems for the upstream oil and gas industries. In addition, the company offers water and wastewater treatment plants for the oil and gas, petrochemical, pharmaceutical, power, semiconductor, and special defense industries, as well as for municipal authorities. Further, it designs, engineers, and supplies mini-power plants, solid waste energy recovery plants, and related combustion technology; and provides design-and-build and development expertise for business parks and industrial developments. Additionally, the company offers geographic information systems and location intelligence solutions; and management, professional and training, project management, design, construction and property-related, private business trust, real estate trustee, property fund management, and data set services. It also distributes medical solutions for age-related chronic diseases and mobility issues, as well as Esri geospatial technology; holds, manages, and rents properties; and develops industrial spaces for lease/sale. The company was founded in 1828 and is headquartered in Singapore.
How the Company Makes MoneyBoustead Singapore generates revenue through multiple streams aligned with its diverse business operations. In the energy sector, the company earns income by providing engineering, procurement, and construction (EPC) services for oil and gas infrastructure projects. The real estate segment contributes to earnings through property development, investment, and management services. Additionally, the water and wastewater engineering division generates revenue by designing and constructing water treatment plants and related infrastructure. Boustead's geospatial technology arm earns income by offering geographic information systems (GIS) and related technology solutions, often through strategic partnerships with technology companies. The company's earnings are further supported by its global footprint and ability to secure large-scale projects across various sectors.

Boustead Singapore Financial Statement Overview

Summary
Boustead Singapore demonstrates strong financial performance with robust revenue growth and solid profitability. The balance sheet is stable with low leverage, and cash flows are well-managed, indicating good financial health and operational efficiency.
Income Statement
85
Very Positive
Boustead Singapore shows a robust income statement with a strong gross profit margin of 29.54% and a solid net profit margin of 8.36% for the latest year. The company has achieved a significant revenue growth rate of 36.66%, indicating a positive growth trajectory. EBIT and EBITDA margins are also healthy at 11.81% and 14.76%, respectively, suggesting effective cost management and operational efficiency. Overall, the company's profitability and growth are commendable, though continued monitoring of margins is advisable.
Balance Sheet
80
Positive
The balance sheet of Boustead Singapore is relatively strong, with a low debt-to-equity ratio of 0.08, indicating minimal leverage and financial stability. The return on equity (ROE) stands at 12.70%, reflecting decent returns for shareholders. The equity ratio is quite favorable at 45.36%, suggesting a strong equity base compared to total assets. These metrics indicate a stable financial position with low risk, although ongoing asset management should be monitored.
Cash Flow
78
Positive
Boustead Singapore's cash flow statement reveals a positive trajectory, with a substantial free cash flow growth rate of 23.38%. The operating cash flow to net income ratio of 1.50 indicates strong cash generation relative to net income, while the free cash flow to net income ratio of 1.42 further confirms efficient cash management. These metrics highlight the company's capability to generate and manage cash effectively, though maintaining this growth is crucial.
BreakdownTTMMar 2024Mar 2023Mar 2022Mar 2021Mar 2020
Income Statement
Total Revenue694.85M767.57M561.64M631.81M685.71M726.56M
Gross Profit238.06M226.74M157.04M144.75M173.60M167.23M
EBITDA106.83M113.25M81.42M70.42M212.21M89.46M
Net Income73.31M64.19M45.33M30.58M113.07M30.87M
Balance Sheet
Total Assets1.07B1.11B1.14B1.08B1.16B1.02B
Cash, Cash Equivalents and Short-Term Investments374.27M376.39M332.39M474.98M484.97M288.33M
Total Debt89.50M38.57M50.63M68.68M64.74M215.04M
Total Liabilities506.06M584.54M566.98M451.14M498.53M528.03M
Stockholders Equity535.04M505.24M453.04M433.57M446.95M342.63M
Cash Flow
Free Cash Flow16.09M91.31M74.00M51.21M57.81M135.49M
Operating Cash Flow21.84M96.38M76.91M54.96M61.55M147.15M
Investing Cash Flow-21.02M-44.15M-46.89M-57.00M266.89M-88.23M
Financing Cash Flow-57.33M-4.60M-96.97M-68.73M-140.86M-21.05M

Boustead Singapore Technical Analysis

Technical Analysis Sentiment
Positive
Last Price1.42
Price Trends
50DMA
1.19
Positive
100DMA
1.11
Positive
200DMA
1.06
Positive
Market Momentum
MACD
0.07
Positive
RSI
71.32
Negative
STOCH
78.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:F9D, the sentiment is Positive. The current price of 1.42 is above the 20-day moving average (MA) of 1.37, above the 50-day MA of 1.19, and above the 200-day MA of 1.06, indicating a bullish trend. The MACD of 0.07 indicates Positive momentum. The RSI at 71.32 is Negative, neither overbought nor oversold. The STOCH value of 78.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:F9D.

Boustead Singapore Peers Comparison

Overall Rating
UnderperformOutperform
Sector (71)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
SGF9D
76
Outperform
$703.75M7.2617.60%4.22%1.78%47.73%
SGE3B
75
Outperform
S$436.64M7.938.58%1.68%-10.70%-45.35%
71
Outperform
¥253.62B13.008.49%3.09%6.31%12.77%
$9.96B13.9620.60%5.68%
SGBN4
74
Outperform
S$13.37B14.787.90%7.86%-5.24%-77.23%
SGCHZ
74
Outperform
S$677.11M14.8711.79%8.08%-1.98%-29.50%
SGH30
66
Neutral
S$620.93M20.271.03%1.71%-5.00%-73.03%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SG:F9D
Boustead Singapore
1.42
0.44
44.31%
SCRPF
Sembcorp Industries
5.98
2.63
78.51%
SG:H30
Hong Fok Corporation Limited
0.75
-0.06
-7.41%
SG:BN4
Keppel Corporation Limited
7.60
1.44
23.38%
SG:CHZ
HRnetGroup Ltd.
0.68
0.03
4.62%
SG:E3B
Wee Hur Holdings Ltd.
0.48
0.29
152.63%

Boustead Singapore Corporate Events

Boustead Secures Major Pharmaceutical Facility Contract
Mar 28, 2025

Boustead Singapore’s Real Estate Solutions Division has secured a significant design-and-build contract for a pharmaceutical facility in Tuas Biomedical Park, aimed at enhancing the client’s global network and meeting growing demand for drug discoveries. This contract, along with a previous data center project, increases the division’s order backlog to S$249 million, although it is not expected to materially impact the group’s profitability in the short term.

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.Date of analysis: May 01, 2025