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Penguin International Limited
(SGX:BTM)
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Rating:70Outperform
Price Target:
S$2.00
▲(57.48% Upside)
Action:Reiterated
Date:08/27/26
The score is primarily supported by solid fundamentals and a conservatively levered balance sheet, along with reasonable valuation (low P/E and a moderate dividend yield). Offsetting these positives are weak cash-flow quality (persistently negative free cash flow) and technically stretched momentum signals (very high RSI/Stoch), which increase near-term risk.
Positive Factors
Conservative Balance Sheet
Low leverage gives Penguin financial resilience across shipbuilding cycles and reduces reliance on external funding. Growing equity and assets also provide capacity to support vessel projects without excessive balance-sheet strain.
Negative Factors
Recent Revenue Contraction
Recent revenue and EPS declines suggest that the earlier expansion has not translated into uninterrupted growth. For a project-driven marine business, weaker order conversion, delivery timing, or customer demand could limit earnings momentum over the next several months.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Low leverage gives Penguin financial resilience across shipbuilding cycles and reduces reliance on external funding. Growing equity and assets also provide capacity to support vessel projects without excessive balance-sheet strain.
Read all positive factors
Penguin International Limited (BTM) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$399.04M
Dividend Yield2.78%
Average Volume (3M)6.82K
Price to Earnings (P/E)10.6
Beta (1Y)-0.25
Revenue Growth-5.26%
EPS Growth-5.33%
CountrySG
Employees14,500
SectorIndustrials
Sector Strength72
IndustryAerospace & Defense
Share Statistics
EPS (TTM)0.17
Shares Outstanding221,689,770
10 Day Avg. Volume1,650
30 Day Avg. Volume6,823
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.97
Price to Sales (P/S)1.05
P/FCF Ratio-14.34
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
Penguin International Limited Business Overview & Revenue Model
Company Description
Penguin International Limited is a prominent maritime enterprise that focuses on the entire lifecycle of high-speed aluminum vessels, encompassing their design, construction, ownership, and operational management. The company's business activities...
How the Company Makes Money
Penguin International Limited makes money primarily by (1) selling newly built vessels to customers and (2) providing marine engineering services such as vessel repair, maintenance, and modification work. For newbuild projects, revenue is typicall...
Penguin International Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 282.30M | 266.97M | 235.84M | 182.41M | 135.23M | 132.65M |
| Gross Profit | 97.00M | 89.47M | 84.51M | 52.28M | 35.92M | 37.18M |
| EBITDA | 60.93M | 74.19M | 64.27M | 38.52M | 27.39M | 25.85M |
| Net Income | 37.59M | 35.47M | 35.53M | 16.74M | 10.55M | 12.67M |
Balance Sheet | ||||||
| Total Assets | 495.51M | 465.02M | 407.21M | 373.26M | 318.45M | 256.82M |
| Cash, Cash Equivalents and Short-Term Investments | 21.36M | 38.28M | 33.98M | 26.76M | 14.98M | 21.04M |
| Total Debt | 55.86M | 63.63M | 59.77M | 53.26M | 31.58M | 23.43M |
| Total Liabilities | 212.13M | 175.87M | 164.52M | 161.85M | 120.35M | 64.93M |
| Stockholders Equity | 283.39M | 289.16M | 242.70M | 211.41M | 198.11M | 191.89M |
Cash Flow | ||||||
| Free Cash Flow | -34.90M | -19.50M | -3.02M | -28.50M | -22.64M | -41.50M |
| Operating Cash Flow | 28.77M | 29.78M | 16.86M | -8.92M | 25.42M | -17.64M |
| Investing Cash Flow | -30.73M | -15.89M | -7.14M | 6.57M | -33.72M | -10.60M |
| Financing Cash Flow | -8.61M | -8.77M | -3.52M | 9.81M | 2.05M | 11.54M |
Penguin International Limited Technical Analysis
Positive
1.27
Price Trends
1.52
Positive
1.52
Positive
1.46
Positive
Market Momentum
0.05
Negative
84.92
Negative
82.82
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:BTM, the sentiment is Positive. The current price of 1.27 is below the 20-day moving average (MA) of 1.56, below the 50-day MA of 1.52, and below the 200-day MA of 1.46, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 84.92 is Negative, neither overbought nor oversold. The STOCH value of 82.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:BTM.
Penguin International Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | S$500.47M | 11.44 | 16.98% | 1.10% | 25.71% | 175.44% | |
70 Outperform | S$399.04M | 10.55 | 18.36% | 3.78% | -5.26% | -5.33% | |
69 Neutral | S$399.60M | 3.67 | 41.27% | ― | 10.82% | 60.12% | |
66 Neutral | S$298.42M | 10.07 | 24.71% | 0.39% | ― | ― | |
65 Neutral | S$7.38B | 13.60 | 7.75% | 1.29% | 10.77% | 108.44% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | S$83.19M | 4.08 | 17.75% | 2.33% | ― | ― |
* Industrials Sector Average
SG:BTM
Penguin International Limited
1.80
0.63
53.71%
SG:5E2
Seatrium Limited
2.20
-0.06
-2.65%
SG:5LY
Marco Polo Marine Ltd.
0.13
0.06
78.87%
SG:A04
ASL Marine Holdings Ltd.
0.30
0.22
275.00%
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Nam Cheong Limited
1.02
0.31
43.66%
SG:RXS
Pacific Radiance Ltd.
0.06
-0.02
-24.00%
Penguin International Limited Corporate Events
Penguin International Wins Landmark Naval Landing Craft Contract from Singapore MINDEF
Aug 25, 2026
Penguin International has secured a turnkey contract from Singapore’s Ministry of Defence to design, engineer and construct two landing craft for the Republic of Singapore Navy. While key commercial and technical details are confidential, th...
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.