Delfi (P34) AI Stock Analysis

• Market Cap: $491.98M
• Dividend Yield: 3.54%
• Average Volume (3M): 698.82K
• Price to Earnings (P/E): 14.0
• Beta (1Y): 0.79
• Revenue Growth: -4.54%
• EPS Growth: -35.71%
• Country: SG
• Employees: 6,000
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Food Confectioners
• EPS (TTM): 0.03
• Shares Outstanding: 611,157,000
• 10 Day Avg. Volume: 774,500
• 30 Day Avg. Volume: 698,823
• PEG Ratio: -0.39
• Price to Book (P/B): 1.32
• Price to Sales (P/S): 0.69
• P/FCF Ratio: 14.76
• Enterprise Value/Market Cap: 0.78
• Enterprise Value/Revenue: 0.77
• Enterprise Value/Gross Profit: 2.87
• Enterprise Value/Ebitda: 8.40
• 1Y Price Target: $0.85
• Price Target Upside: 6.86% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 2

• Rating: 65 Neutral
• Price Target: S$1.00 ▲(25.00% Upside)

Delfi's overall stock score is driven by its stable financial performance and reasonable valuation. The technical analysis indicates bullish momentum, though caution is advised due to overbought signals. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Negative Factors

Delfi Business Overview & Revenue Model

Company Description

Delfi Limited, an investment holding company, manufactures, markets, distributes, and sells chocolate confectionery products in Indonesia, the Philippines, Malaysia, Singapore, and internationally. Its products include molded chocolates, dragees, enrobed wafers, biscuits, chocolate spreads, baking condiments, and beverages. The company also distributes a range of food, healthcare, and other consumer products, including agency brands; and provides management consulting and administrative services. It markets its products under the Delfi, SilverQueen, Van Houten, Ceres, TOP, Selamat, Goya, and Knick Knacks brand names through hypermarkets, supermarkets, wholesalers, and chain stores. The company was formerly known as Petra Foods Limited and changed its name to Delfi Limited in May 2016. The company was incorporated in 1984 and is based in Singapore.

How the Company Makes Money

Delfi (P34) generates revenue primarily through the sale of its confectionery products across various channels, including retail, wholesale, and e-commerce. The company's revenue streams are bolstered by its strong brand portfolio and extensive distribution network throughout Southeast Asia. Significant partnerships with retailers and distributors enhance its market reach and consumer accessibility. Additionally, Delfi's focus on brand innovation and product diversification contributes to its financial performance, allowing it to capitalize on shifting consumer preferences and expand its market share.

Delfi Financial Statement Overview

Summary

Delfi shows a stable financial position with strong cash flow generation and low leverage. However, the decline in revenue and profitability margins indicates challenges in maintaining growth and operational efficiency.

Income Statement

Delfi's income statement shows a mixed performance. The Gross Profit Margin for 2024 is approximately 27.4%, indicating a solid ability to cover its production costs. However, the Net Profit Margin decreased to about 6.8% from 8.6% in 2023, reflecting a decline in profitability. Revenue has decreased by approximately 6.6% from 2023 to 2024, which is a concern. The EBIT Margin stands at 10.1%, and the EBITDA Margin at 12.5%, both showing a decrease compared to the previous year, indicating reduced operational efficiency.

Balance Sheet

Delfi's balance sheet remains strong with a Debt-to-Equity Ratio of approximately 0.09, indicating low leverage and financial stability. The Return on Equity (ROE) for 2024 is about 12.8%, which is a decrease from 17.4% in 2023, suggesting reduced efficiency in generating profits from equity. The Equity Ratio is around 61.8%, reflecting a solid equity base relative to total assets, which enhances financial stability.

Cash Flow

The cash flow statement reveals a robust Operating Cash Flow to Net Income Ratio of 1.55, indicating strong cash generation relative to net income. Free Cash Flow increased significantly from 2023 to 2024, showing a growth rate of 1490%, which is a positive sign of improved cash management. However, the Free Cash Flow to Net Income Ratio is 0.70, suggesting room for improvement in converting net income into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	501.40M	502.65M	538.15M	477.49M	405.13M	385.12M
Gross Profit	134.05M	137.82M	153.24M	145.51M	119.71M	110.11M
EBITDA	45.71M	63.05M	77.58M	75.46M	58.70M	44.57M
Net Income	26.57M	33.95M	46.26M	43.90M	29.27M	17.48M
Balance Sheet
Total Assets	445.88M	428.23M	420.94M	395.09M	363.90M	382.49M
Cash, Cash Equivalents and Short-Term Investments	81.64M	43.78M	59.38M	77.14M	86.24M	65.52M
Total Debt	19.97M	24.78M	40.97M	21.18M	11.45M	50.22M
Total Liabilities	175.28M	163.64M	154.72M	148.89M	124.59M	156.74M
Stockholders Equity	270.59M	264.58M	266.22M	246.19M	239.30M	225.63M
Cash Flow
Free Cash Flow	64.32M	23.64M	1.49M	3.80M	73.81M	37.48M
Operating Cash Flow	72.56M	52.57M	25.23M	7.74M	77.19M	42.41M
Investing Cash Flow	-8.56M	-28.79M	-23.97M	-3.61M	-196.00K	-4.84M
Financing Cash Flow	-33.99M	-34.93M	-22.66M	-13.12M	-54.74M	-28.21M

Delfi Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.80
• 50DMA: Positive
• 100DMA: Positive
• 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:P34, the sentiment is Positive. The current price of 0.8 is below the 20-day moving average (MA) of 0.81, above the 50-day MA of 0.78, and above the 200-day MA of 0.75, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 48.47 is Neutral, neither overbought nor oversold. The STOCH value of 13.75 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:P34.

Delfi Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5JS	74 Outperform	S$523.46M	5.44	8.46%	2.67%	13.03%	35.10%
Q01	71 Outperform	S$517.74M	19.82	5.51%	5.56%	-0.51%	-25.57%
P34	65 Neutral	$491.98M	13.98	10.03%	3.54%	-4.54%	-35.71%
MV4	63 Neutral	€450.20M	5.87	7.17%	0.60%	47.72%	16.14%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%