Pan-United Corporation Ltd. (P52) AI Stock Analysis

• Market Cap: S$545.81M
• Dividend Yield: 3.59%
• Average Volume (3M): 601.56K
• Price to Earnings (P/E): 13.2
• Beta (1Y): 0.12
• Revenue Growth: 4.93%
• EPS Growth: 12.48%
• Country: SG
• Employees: 1,729
• Sector: Basic Materials
• Sector Strength: 66
• Industry: Construction Materials
• EPS (TTM): 0.06
• Shares Outstanding: 701,995,850
• 10 Day Avg. Volume: 435,500
• 30 Day Avg. Volume: 601,560
• PEG Ratio: 0.47
• Price to Book (P/B): 1.31
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 55.20
• 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$0.82
• Price Target Upside: 5.13% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 75 Outperform
• Price Target: S$1.00 ▲(28.21%Upside)

The overall stock score reflects strong financial performance and positive technical analysis, indicating a well-positioned company in the construction materials industry. The valuation suggests a fair market price with an attractive dividend yield, though investors should monitor the slightly overbought technical indicators.

Positive Factors

Financial Performance

Pan-United’s net cash increased significantly, driven by higher revenues and lower borrowings, showcasing a healthy balance sheet.

Market Position

A buy recommendation is maintained with a higher target price, reflecting confidence in the company’s market position and future growth prospects.

Product Innovation

PANU began offering low-carbon concrete ahead of its Singapore peers and continues to invest in research & development to expand its range.

Negative Factors

Market Risks

Downside risks include counterparty credit risks and slowdown in project offtake volumes negatively impacting RMC sales and margins.

Operational Challenges

Slower-than-expected project take-off led to FY24 revenue and PATMI coming in below estimates.

Pan-United Corporation Ltd. Business Overview & Revenue Model

Company Description

Pan-United Corporation Ltd. is a Singapore-based company primarily engaged in the concrete and logistics industry. It specializes in providing innovative and sustainable concrete solutions, serving various sectors including construction, infrastructure, and urban development. The company is recognized for its advanced research and development capabilities in concrete technology, which positions it as a leader in delivering high-performance building materials.

How the Company Makes Money

Pan-United Corporation Ltd. generates revenue through the production and supply of ready-mixed concrete and cement products. The company operates a vertically integrated business model that encompasses the entire supply chain, from the sourcing of raw materials to the delivery of finished products. Key revenue streams include sales of ready-mixed concrete to construction companies, infrastructure developers, and government projects. Additionally, Pan-United benefits from strategic partnerships and collaborations that enhance its market reach and technological capabilities. The company also invests in digital transformation initiatives to optimize its logistics and operational efficiency, thereby contributing to its profitability.

Pan-United Corporation Ltd. Financial Statement Overview

Summary

Pan-United Corporation Ltd. demonstrates strong financial health with notable revenue growth, robust cash flows, and a stable balance sheet. While the company shows strong profitability and cash generation, the drop in EBIT margin warrants attention.

Income Statement

Pan-United Corporation Ltd. has shown strong revenue growth over the years with a 4.92% increase from 2023 to 2024. The company maintains a healthy gross profit margin, however, the EBIT margin decreased to 0% in 2024, indicating a potential concern in operational efficiency. The net profit margin improved, reflecting better profitability in 2024 due to increased net income.

Balance Sheet

The balance sheet reflects a solid equity position with an equity ratio of 53.10% in 2024. The debt-to-equity ratio has decreased slightly, indicating prudent financial management. The company shows an impressive return on equity of 15.39%, signaling effective use of shareholders' funds.

Cash Flow

Cash flow analysis highlights a robust free cash flow growth rate of 40.54% from 2023 to 2024. The operating cash flow to net income ratio is strong, indicating good cash generation relative to income. The free cash flow to net income ratio also improved, showing effective cash utilization.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
1.01B	812.30M	774.14M	703.26M	586.87M	405.02M
	Gross Profit
171.57M	175.76M	80.83M	132.70M	127.04M	84.83M
	EBIT
105.86M	71.47M	43.64M	36.27M	25.00M	4.86M
	EBITDA
89.06M	78.97M	68.68M	52.22M	42.40M	28.78M
	Net Income Common Stockholders
48.22M	40.85M	34.30M	23.35M	18.69M	1.04M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
95.51M	107.01M	64.37M	64.65M	64.15M	67.56M
	Total Assets
459.55M	499.75M	453.88M	421.36M	396.69M	402.31M
	Total Debt
54.91M	56.09M	57.17M	69.01M	66.00M	103.61M
	Net Debt
-40.60M	-50.92M	-7.20M	4.36M	1.85M	36.05M
	Total Liabilities
213.55M	228.83M	216.32M	202.96M	183.22M	199.31M
	Stockholders Equity
240.60M	265.30M	231.82M	211.42M	205.07M	194.69M
Cash Flow		Free Cash Flow
98.65M	69.38M	49.36M	5.00M	48.77M	51.67M
	Operating Cash Flow
114.38M	87.98M	61.27M	20.64M	57.54M	59.61M
	Investing Cash Flow
-12.50M	-14.73M	-7.62M	-9.40M	-4.02M	-7.75M
	Financing Cash Flow
-74.75M	-31.50M	-53.02M	-9.33M	-57.33M	-33.64M

Pan-United Corporation Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.78
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:P52, the sentiment is Positive. The current price of 0.78 is above the 20-day moving average (MA) of 0.74, above the 50-day MA of 0.68, and above the 200-day MA of 0.58, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 70.06 is Negative, neither overbought nor oversold. The STOCH value of 90.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:P52.

Pan-United Corporation Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
P52	75 Outperform	S$545.81M	13.16	16.44%	3.59%	4.93%	12.48%
Sector *	51 Neutral	$2.03B	-1.27	-21.09%	3.98%	2.91%	-30.50%
BTG		S$97.53M	6.83	6.96%	―	―	―
KUO		S$104.50M	17.00	0.82%	―	―	―
N02		S$263.36M	12.92	7.50%	57.14%	―	―
QNS		S$273.84M	―	-6.06%	―	―	―
S44		S$84.87M	77.72	0.42%	4.20%	―	―

Pan-United Corporation Ltd. Corporate Events

Pan-United Corporation Ltd Holds 33rd Annual General Meeting

Pan-United Corporation Ltd held its 33rd Annual General Meeting at the Suntec Singapore Convention and Exhibition Centre, where Executive Chairman Ms. Ng Bee Bee expressed gratitude to shareholders for their continued support. The meeting marked the first address by Mr. Ken Loh as CEO, who provided a business performance summary to the shareholders. The AGM proceeded without any pre-submitted questions from shareholders, but a Q&A session was opened during the meeting to address any substantial and relevant queries.

The most recent analyst rating on (SG:P52) stock is a Buy with a S$0.68 price target. To see the full list of analyst forecasts on Pan-United Corporation Ltd. stock, see the SG:P52 Stock Forecast page.