Financials Wilmar International Limited

Equities

F34

SG1T56930848

Food Processing

Market Closed - Singapore S.E. 05:07:39 2024-05-09 am EDT 5-day change 1st Jan Change
3.17 SGD -1.25% Intraday chart for Wilmar International Limited -1.25% -11.20%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,412 22,238 19,320 19,429 16,895 14,782 - -
Enterprise Value (EV) 1 38,758 39,173 45,741 46,859 43,092 39,913 39,278 39,796
P/E ratio 15 x 14.6 x 10.3 x 8.13 x 11.1 x 9.16 x 7.96 x 7.77 x
Yield 2.91% 2.75% 3.76% 5.46% 4.67% 5.27% 5.65% 5.95%
Capitalization / Revenue 0.46 x 0.44 x 0.29 x 0.26 x 0.25 x 0.21 x 0.21 x 0.19 x
EV / Revenue 0.91 x 0.78 x 0.7 x 0.64 x 0.64 x 0.57 x 0.55 x 0.52 x
EV / EBITDA 13.8 x 10.9 x 11 x 9.9 x 10.9 x 10.1 x 9.45 x 9.16 x
EV / FCF 25.4 x -27.5 x -17.8 x -108 x 26.9 x 25.5 x 33.3 x 31.3 x
FCF Yield 3.93% -3.63% -5.62% -0.93% 3.72% 3.92% 3.01% 3.19%
Price to Book 1.16 x 1.18 x 0.97 x 0.97 x 0.84 x 0.7 x 0.67 x 0.56 x
Nbr of stocks (in thousands) 6,340,872 6,316,232 6,295,171 6,242,473 6,242,733 6,242,733 - -
Reference price 2 3.061 3.521 3.069 3.112 2.706 2.368 2.368 2.368
Announcement Date 2/20/20 2/22/21 2/22/22 2/21/23 2/21/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 42,641 50,527 65,794 73,399 67,155 69,846 71,522 75,868
EBITDA 1 2,807 3,609 4,172 4,734 3,963 3,937 4,158 4,343
EBIT 1 1,929 2,283 2,230 2,353 2,425 2,646 2,909 2,947
Operating Margin 4.52% 4.52% 3.39% 3.21% 3.61% 3.79% 4.07% 3.88%
Earnings before Tax (EBT) 1 1,698 2,311 2,766 3,117 1,956 2,320 2,576 2,722
Net income 1 1,293 1,534 1,890 2,402 1,525 1,672 1,859 1,945
Net margin 3.03% 3.04% 2.87% 3.27% 2.27% 2.39% 2.6% 2.56%
EPS 2 0.2040 0.2410 0.2990 0.3830 0.2440 0.2586 0.2976 0.3046
Free Cash Flow 1 1,525 -1,423 -2,572 -435.1 1,604 1,566 1,181 1,271
FCF margin 3.58% -2.82% -3.91% -0.59% 2.39% 2.24% 1.65% 1.68%
FCF Conversion (EBITDA) 54.31% - - - 40.47% 39.78% 28.41% 29.27%
FCF Conversion (Net income) 117.88% - - - 105.2% 93.67% 63.52% 65.36%
Dividend per Share 2 0.0892 0.0968 0.1152 0.1700 0.1265 0.1248 0.1339 0.1408
Announcement Date 2/20/20 2/22/21 2/22/22 2/21/23 2/21/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 29,534 17,135 19,124 - - - - - - - - - -
EBITDA - 1,140 1,148 - - - - - - - - - -
EBIT 1 1,167 812 812 - - - - - 643.3 672.6 789.6 818.8 721.8
Operating Margin 3.95% 4.74% 4.25% - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - 568.7 570.7 530.3 634.6 766.2 471.3 - - - - - -
Net margin - 3.32% 2.98% - - - - - - - - - -
EPS - 0.0900 0.0900 0.0900 0.0900 0.1000 0.1030 - - - - - -
Dividend per Share 2 - 0.0400 0.0781 0.0200 - 0.0400 0.1700 0.0819 - 0.0261 - 0.0779 -
Announcement Date 8/11/21 10/29/21 2/22/22 4/29/22 8/4/22 10/28/22 2/21/23 2/21/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 19,346 16,935 26,422 27,430 26,197 25,130 24,496 25,014
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 6.891 x 4.692 x 6.333 x 5.795 x 6.61 x 6.383 x 5.891 x 5.76 x
Free Cash Flow 1 1,525 -1,423 -2,572 -435 1,604 1,566 1,181 1,271
ROE (net income / shareholders' equity) 7.66% 8.61% 9.74% 12% 7.6% 8.02% 8.54% 8.62%
ROA (Net income/ Total Assets) 2.71% 3.13% 3.45% 10.6% 2.5% 3.03% 3.24% 3.58%
Assets 1 47,747 49,033 54,869 22,601 61,105 55,215 57,448 54,408
Book Value Per Share 2 2.640 2.990 3.160 3.200 3.230 3.370 3.540 4.270
Cash Flow per Share 2 0.5300 0.0900 -0.0100 0.3300 0.6200 0.4400 0.4200 0.4800
Capex 1 1,813 1,976 2,527 2,483 2,281 1,913 1,895 1,964
Capex / Sales 4.25% 3.91% 3.84% 3.38% 3.4% 2.74% 2.65% 2.59%
Announcement Date 2/20/20 2/22/21 2/22/22 2/21/23 2/21/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
2.368 USD
Average target price
2.769 USD
Spread / Average Target
+16.95%
Consensus
  1. Stock Market
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  4. Financials Wilmar International Limited
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