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Bonvests Holdings Limited
(SGX:B28)
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Rating:59Neutral
Price Target:
S$0.98
â–²(3.37% Upside)
Action:Reiterated
Date:09/24/26
The score is driven primarily by improving fundamentals (revenue recovery and better TTM profitability with generally positive cash generation) but is held back by earnings/margin volatility and modest ROE. Technical signals are meaningfully negative (bearish momentum and price below key moving averages), while valuation is neutral-to-slightly supportive with a mid-range P/E and modest dividend yield.
Positive Factors
Revenue recovery
The multi-year revenue recovery indicates improving demand across Bonvests’ property and hospitality activities. Accelerating TTM growth can support stronger operating leverage and provide a durable base for future earnings, provided the improvement continues across reporting periods.
Negative Factors
Earnings volatility
Uneven profitability reduces confidence that the recent improvement will translate into consistently durable earnings. Margin volatility can make planning and capital allocation harder, while weaker periods may limit the cash available for property investment, debt service, or shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue recovery
The multi-year revenue recovery indicates improving demand across Bonvests’ property and hospitality activities. Accelerating TTM growth can support stronger operating leverage and provide a durable base for future earnings, provided the improvement continues across reporting periods.
Read all positive factors
Bonvests Holdings Limited (B28) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$375.42M
Dividend Yield1.28%
Average Volume (3M)5.46K
Price to Earnings (P/E)17.4
Beta (1Y)0.35
Revenue Growth5.22%
EPS Growth297.06%
CountrySG
Employees2,017
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Lodging
Share Statistics
EPS (TTM)0.05
Shares Outstanding401,516,970
10 Day Avg. Volume4,880
30 Day Avg. Volume5,456
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.46
Price to Sales (P/S)1.69
P/FCF Ratio17.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Bonvests Holdings Limited Business Overview & Revenue Model
Company Description
Bonvests Holdings Limited operates as an investment holding company, engaging in a broad spectrum of activities. Its core businesses encompass real estate development and investment, the management and ownership of hotels, alongside providing wast...
How the Company Makes Money
Bonvests makes money mainly through real estate and hospitality-related earnings. Key revenue streams include: (1) Property development income: revenue and profit are generated from the development and sale of residential and/or commercial propert...
Bonvests Holdings Limited Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
72
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 233.77M | 228.24M | 224.25M | 216.76M | 209.02M | 134.41M |
| Gross Profit | 108.85M | 93.84M | 199.59M | 95.74M | 185.68M | 123.11M |
| EBITDA | 49.96M | 49.65M | 55.08M | 57.27M | 67.09M | 48.28M |
| Net Income | 21.67M | 19.39M | 1.87M | 7.17M | 20.72M | 12.25M |
Balance Sheet | ||||||
| Total Assets | 1.26B | 1.28B | 1.29B | 1.30B | 1.30B | 1.33B |
| Cash, Cash Equivalents and Short-Term Investments | 33.10M | 36.18M | 29.66M | 29.69M | 31.90M | 37.35M |
| Total Debt | 359.93M | 362.46M | 376.31M | 389.94M | 380.02M | 414.88M |
| Total Liabilities | 427.37M | 435.32M | 450.98M | 460.55M | 453.15M | 476.53M |
| Stockholders Equity | 837.22M | 840.56M | 838.28M | 837.71M | 842.24M | 847.61M |
Cash Flow | ||||||
| Free Cash Flow | 39.08M | 22.03M | 35.70M | 19.30M | 39.14M | -4.40M |
| Operating Cash Flow | 50.14M | 32.13M | 45.85M | 43.29M | 55.85M | 23.53M |
| Investing Cash Flow | -11.46M | -11.08M | -9.35M | -23.05M | -15.85M | -25.16M |
| Financing Cash Flow | -32.92M | -14.84M | -36.79M | -21.37M | -44.12M | 626.00K |
Bonvests Holdings Limited Technical Analysis
Negative
0.95
Price Trends
0.95
Negative
0.96
Negative
0.96
Negative
Market Momentum
>-0.01
Negative
38.83
Neutral
9.09
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:B28, the sentiment is Negative. The current price of 0.95 is above the 20-day moving average (MA) of 0.94, below the 50-day MA of 0.95, and below the 200-day MA of 0.96, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 38.83 is Neutral, neither overbought nor oversold. The STOCH value of 9.09 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:B28.
Bonvests Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | S$1.19B | 17.46 | 5.59% | 2.86% | 26.02% | -77.59% | |
62 Neutral | S$707.14M | 23.99 | 3.27% | 1.05% | 0.28% | -10.91% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | S$375.42M | 17.38 | 2.58% | 1.28% | 5.22% | 297.06% | |
58 Neutral | S$521.30M | -26.30 | -1.58% | 2.11% | 7.24% | -8.57% | |
49 Neutral | S$310.51M | -1.57 | -20.02% | 5.33% | -6.56% | 9.61% | |
45 Neutral | S$102.42M | -525.00 | -0.06% | 2.38% | 7.30% | 93.83% |
* Consumer Cyclical Sector Average
SG:B28
Bonvests Holdings Limited
0.94
-0.06
-6.22%
SG:5DP
Heeton Holdings Limited
0.21
-0.06
-21.93%
SG:H07
Stamford Land Corporation Ltd
0.48
0.05
13.10%
SG:H18
Hotel Grand Central Ltd.
0.71
<0.01
1.28%
SG:M01
Metro Holdings Ltd
0.38
-0.13
-25.30%
SG:OU8
Centurion Corporation Limited
1.40
0.03
2.12%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.