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Kencana Agri Limited
(SGX:BNE)
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Rating:71Outperform
Price Target:
S$0.60
â–²(115.00% Upside)
Action:Upgraded
Date:08/29/26
Overall score is driven by solid profitability and cash flow but constrained by high leverage, which elevates financial risk. Technicals are constructive with price above key moving averages and positive momentum indicators, while valuation is favorable due to a low P/E and a positive dividend yield.
Positive Factors
Solid Profitability
Healthy gross and operating profitability, plus a roughly 9% net margin, indicates the plantation and milling model is currently converting sales into earnings. Positive results across most years provide resilience beyond a single reporting period.
Negative Factors
High Leverage
Debt remains high relative to equity despite improvement from prior years. This leaves less financial flexibility and increases sensitivity to weaker CPO prices, lower yields or higher operating costs, potentially constraining investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Solid Profitability
Healthy gross and operating profitability, plus a roughly 9% net margin, indicates the plantation and milling model is currently converting sales into earnings. Positive results across most years provide resilience beyond a single reporting period.
Read all positive factors
Kencana Agri Limited (BNE) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$162.16M
Dividend Yield2.65%
Average Volume (3M)50.34K
Price to Earnings (P/E)6.2
Beta (1Y)-0.37
Revenue Growth15.60%
EPS Growth-6.45%
CountrySG
Employees7,556
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)N/A
Shares Outstanding287,011,170
10 Day Avg. Volume48,040
30 Day Avg. Volume50,343
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)1.02
Price to Sales (P/S)0.29
P/FCF Ratio1.69
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
Kencana Agri Limited Business Overview & Revenue Model
Company Description
Kencana Agri Limited, encompassing its various subsidiaries, operates as an integrated plantation enterprise with activities spanning Indonesia, Malaysia, and other international markets. Its core business involves cultivating oil palms and proces...
How the Company Makes Money
Kencana Agri Limited makes money mainly by producing and selling palm oil-related commodities. Its key revenue streams typically include: (1) Upstream plantation operations: generating value from harvesting oil palm fresh fruit bunches (FFB) from ...
Kencana Agri Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
45
Neutral
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 222.31M | 201.73M | 153.73M | 136.37M | 152.54M | 128.45M |
| Gross Profit | 57.04M | 56.35M | 43.34M | 26.42M | 43.59M | 41.16M |
| EBITDA | 60.68M | 56.89M | 53.81M | 30.45M | 35.49M | 58.30M |
| Net Income | 20.46M | 18.73M | 11.94M | -283.00K | 2.62M | 16.80M |
Balance Sheet | ||||||
| Total Assets | 254.76M | 263.42M | 288.31M | 293.26M | 299.56M | 334.22M |
| Cash, Cash Equivalents and Short-Term Investments | 29.09M | 26.96M | 9.39M | 3.89M | 2.87M | 3.38M |
| Total Debt | 142.72M | 156.25M | 192.36M | 188.50M | 195.47M | 231.31M |
| Total Liabilities | 192.93M | 206.57M | 247.39M | 262.68M | 269.02M | 303.46M |
| Stockholders Equity | 61.83M | 56.85M | 40.92M | 30.58M | 30.53M | 30.77M |
Cash Flow | ||||||
| Free Cash Flow | 45.36M | 34.29M | 14.26M | 22.28M | 44.04M | 34.04M |
| Operating Cash Flow | 58.45M | 46.28M | 28.79M | 40.33M | 54.36M | 39.69M |
| Investing Cash Flow | -12.58M | -11.77M | -14.16M | -12.45M | -9.45M | -2.60M |
| Financing Cash Flow | -42.55M | -26.38M | -8.47M | -27.22M | -44.84M | -37.80M |
Kencana Agri Limited Technical Analysis
Positive
0.28
Price Trends
0.48
Positive
0.49
Positive
0.40
Positive
Market Momentum
0.03
Negative
59.28
Neutral
36.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:BNE, the sentiment is Positive. The current price of 0.28 is below the 20-day moving average (MA) of 0.53, below the 50-day MA of 0.48, and below the 200-day MA of 0.40, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 59.28 is Neutral, neither overbought nor oversold. The STOCH value of 36.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:BNE.
Kencana Agri Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | S$3.59B | 14.85 | 22.01% | 4.74% | 9.22% | 15.05% | |
71 Outperform | S$162.16M | 6.25 | 34.47% | 2.65% | 15.60% | -6.45% | |
69 Neutral | S$7.12B | 14.47 | 25.05% | 4.00% | 51.37% | 46.36% | |
68 Neutral | S$4.25B | 5.48 | 9.74% | 2.84% | 8.96% | -6.35% | |
68 Neutral | S$488.57M | 4.94 | 8.72% | 3.43% | 8.01% | 10.16% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
48 Neutral | S$23.85B | 13.16 | 6.47% | 3.93% | 6.32% | 16.58% |
* Consumer Defensive Sector Average
SG:BNE
Kencana Agri Limited
0.57
0.29
103.97%
SG:EB5
First Resources (Singapore)
4.55
2.94
182.08%
SG:E5H
Golden Agri-Resources
0.34
0.06
20.94%
SG:F34
Wilmar International
3.82
0.98
34.32%
SG:P8Z
Bumitama Agri Ltd.
2.07
0.98
90.08%
SG:5JS
Indofood Agri Resources Ltd.
0.35
>-0.01
-2.51%
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.