Keppel Corporation Limited stock analysis
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Keppel Corporation Limited (BN4) Share Price & Analysis
BN4 Stock Chart & Stats
- Day’s Range
- SGD 9.50 - SGD 9.82
- 52-Week Range
- SGD 9.30 - SGD 13.25
- Previous Close
- SGD 9.45
- Volume
- N/A
- Average Volume (3M)
- 4.16M
- Market Cap
- SGD 17.10B
- Enterprise Value
- SGD 30.44B
- Total Cash (Recent Filing)
- SGD 2.24B
- Total Debt (Recent Filing)
- SGD 11.52B
- Price to Earnings (P/E)
- 52.0
- Beta
- 1.05
- Next Earnings
- Feb 04, 2027 (Est.)
- EPS Estimate
- 0.32
- Last Dividend Ex-Date
- Aug 11, 2026
- Dividend Yield
- 3.69%
Bulls Say, Bears Say
Bulls Say
Recurring Income And Asset Management
Growing recurring income and funds under management indicate a broader shift toward fee-based, asset-light earnings. Reaching the FUM target early can support more stable cash generation, strengthen platform scale, and reduce reliance on volatile project or asset-sale profits over time.
Infrastructure And Connectivity Growth
Strong infrastructure and connectivity contributions, supported by newly commercialized assets, reinforce Keppel’s position in essential real-asset markets. These platforms can generate recurring operating income and benefit from structural demand for power, digital infrastructure, and connectivity.
Asset Monetisation Platform
The Apollo partnership provides a defined route to recycle capital from legacy rigs while reducing exposure to noncore assets. Successful monetisation could improve portfolio quality, release cash for deleveraging or reinvestment, and accelerate the company’s transition toward its newer operating model.
Bears Say
Elevated Group Leverage
Leverage at 6.7 times net debt to EBITDA limits financial flexibility and leaves the group more exposed to execution delays, interest costs, and weaker asset values. Deleveraging therefore remains important before capital can be deployed with greater strategic freedom.
Legacy Losses And Impairments
Large noncore losses and rig impairments continue to dilute otherwise stronger operating performance. They demonstrate that legacy assets can still consume earnings and capital, while further portfolio exits may remain dependent on market conditions and management execution.
Inconsistent Cash Conversion
A history of weak and uneven cash conversion makes reported profitability less dependable as a source of internally funded growth. Although cash flow has improved, continued variability could constrain debt reduction, distributions, and investment in Keppel’s expanding infrastructure platforms.
Keppel Corporation Limited News
Keppel’s New Keppel Platform Delivers Strong 2026 Earnings as Asset Management and Infrastructure Drive Growth
Keppel Corporation Limited ( ($SG:BN4) ) has provided an update. Keppel’s “New Keppel” platform delivered robust earnings in 3Q and the first nine months of 2026, with net profit up
Keppel and Apollo team up to pursue large-scale private capital deals in Asia-Pacific
Keppel Corporation Limited ( ($SG:BN4) ) has provided an announcement. Keppel Ltd. has entered into a framework agreement with Apollo Management Singapore to jointly explore large-scale private capital solutions for
Keppel’s RigCo taps Seatrium to complete S$500 million offshore rig portfolio
Keppel Corporation Limited ( ($SG:BN4) ) has shared an update. Keppel’s RigCo subsidiary has engaged Seatrium to complete construction of four offshore drilling rigs—a premium seventh-generation drillship, a harsh environment
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Keppel Corporation Limited Stock Smart Score
Company Description
Keppel Corporation Limited
Keppel Corporation Limited, a Singapore-based investment holding company established in 1968, maintains a global presence with significant operations in diverse sectors, including offshore and marine, real estate, infrastructure, and strategic investments. Its activities extend across various regions such as China, Hong Kong, and Brazil. Within its offshore and marine division, Keppel specializes in the design, engineering, construction, fabrication, and maintenance of sophisticated assets like offshore production facilities, drilling rigs, power barges, and custom vessels. This segment also constructs platforms for the oil and gas industry, conducts general shipyard operations, procures and supplies vital steel components, and offers a full range of marine services, including ship repair, new construction, conversions, vessel ownership, and chartering. The company's real estate arm focuses on property investment, management, and development, particularly in residential projects. It also manages investment funds, operates golf clubs, and owns and manages hotels. Keppel's infrastructure portfolio is extensive, encompassing the development of district heating and cooling systems, power generation and supply, and the trading of gaseous fuels. It further includes the distribution of IT products, retail sales of telecommunication products, and the provision of fixed and other telecommunications services. This segment also offers heavy-lift equipment and related services, project management, procurement, towage, financial services, REIT management, logistics, and warehousing. Additionally, Keppel is deeply involved in environmental infrastructure, solid waste treatment, and advancing renewable energy initiatives.
- Sector
- Industrials
- Industry
- Conglomerates
- CEO
- Chin Hua Loh
- Employees
- 4,964
- Website
- www.keppel.com
- Address
- No. 18-01 Keppel Bay Tower, Singapore, CE, 098632, SG
Keppel Corporation Limited (BN4) Earnings & Revenues
BN4 Earnings Call
Earnings Call SentimentPositive
The call presented a broadly positive transformation narrative for 'new Keppel' with strong asset management momentum (FUM at SGD 106 billion), solid recurring income growth (+13% to SGD 467m), a marked rise in SSCI contributions (SGD 175m vs SGD 18m), healthy operating wins (Sakra Cogen commercialized, Bifrost fully commercialized) and a material free cash flow turnaround (SGD 570m inflow). These positives are tempered by significant legacy noncore headwinds—SGD 375m noncore loss, large rig impairments (SGD 165m), elevated group leverage (net debt/EBITDA 6.7x) and a 59% drop in group net profit to SGD 155m. Management articulated clear monetization plans (Apollo commitment, expected ~SGD 611m cash from first 6 rigs) that should mitigate legacy drag over time. Overall, operational and asset-management progress materially outweigh legacy portfolio challenges, though execution on monetization and rig-market recovery remains key.
View all SG:BN4 earnings summariesBN4 Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 3 | 5 | 14 |
| Technical Analysis | 3 | 5 | 2 |
| Moving Averages | 0 | 0 | 12 |









