Boustead Singapore (F9D) AI Stock Analysis

• Market Cap: $703.75M
• Dividend Yield: 4.22%
• Average Volume (3M): 839.15K
• Price to Earnings (P/E): 7.3
• Beta (1Y): 0.40
• Revenue Growth: 1.78%
• EPS Growth: 47.73%
• Country: SG
• Employees: 1,311
• Sector: Industrials
• Sector Strength: 86
• Industry: Conglomerates
• EPS (TTM): 0.12
• Shares Outstanding: 514,214,500
• 10 Day Avg. Volume: 687,630
• 30 Day Avg. Volume: 839,146
• PEG Ratio: 0.18
• Price to Book (P/B): 0.87
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 5.35
• 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

• Rating: 76 Outperform
• 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 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 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 Money

Boustead 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

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

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

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.

Breakdown	TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	694.85M	767.57M	561.64M	631.81M	685.71M	726.56M
Gross Profit	238.06M	226.74M	157.04M	144.75M	173.60M	167.23M
EBITDA	106.83M	113.25M	81.42M	70.42M	212.21M	89.46M
Net Income	73.31M	64.19M	45.33M	30.58M	113.07M	30.87M
Balance Sheet
Total Assets	1.07B	1.11B	1.14B	1.08B	1.16B	1.02B
Cash, Cash Equivalents and Short-Term Investments	374.27M	376.39M	332.39M	474.98M	484.97M	288.33M
Total Debt	89.50M	38.57M	50.63M	68.68M	64.74M	215.04M
Total Liabilities	506.06M	584.54M	566.98M	451.14M	498.53M	528.03M
Stockholders Equity	535.04M	505.24M	453.04M	433.57M	446.95M	342.63M
Cash Flow
Free Cash Flow	16.09M	91.31M	74.00M	51.21M	57.81M	135.49M
Operating Cash Flow	21.84M	96.38M	76.91M	54.96M	61.55M	147.15M
Investing Cash Flow	-21.02M	-44.15M	-46.89M	-57.00M	266.89M	-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 Price: 1.42
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
F9D	76 Outperform	$703.75M	7.26	17.60%	4.22%	1.78%	47.73%
E3B	75 Outperform	S$436.64M	7.93	8.58%	1.68%	-10.70%	-45.35%
Sector *	71 Outperform	¥253.62B	13.00	8.49%	3.09%	6.31%	12.77%
SCRPF		$9.96B	13.96	20.60%	5.68%	―	―
BN4	74 Outperform	S$13.37B	14.78	7.90%	7.86%	-5.24%	-77.23%
CHZ	74 Outperform	S$677.11M	14.87	11.79%	8.08%	-1.98%	-29.50%
H30	66 Neutral	S$620.93M	20.27	1.03%	1.71%	-5.00%	-73.03%

Boustead Singapore Corporate Events

Boustead Secures Major Pharmaceutical Facility Contract

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.