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Wilmar International (SG:F34)
SGX:F34
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Wilmar International (F34) AI Stock Analysis

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SG:F34

Wilmar International

(SGX:F34)

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Neutral 48 (OpenAI - Gpt-5.6Sol)
Rating:48Neutral
Price Target:
S$3.50
▼(-9.09% Downside)
Action:Reiterated
Date:08/19/26
The score is held back primarily by weak cash generation (TTM negative free cash flow) and a somewhat leveraged balance sheet, which increases sensitivity to any margin or working-capital pressure. Technical indicators also suggest weak near-term momentum. These negatives are partially offset by moderate valuation (P/E ~12.5) and continued profitability with modest TTM revenue growth.
Positive Factors
Integrated Farm-to-Consumer Model
Wilmar’s vertical integration gives it control across sourcing, processing and distribution, supporting supply-chain efficiency and product capture. This structure can improve resilience and create recurring opportunities to shift toward higher-value downstream products.
Negative Factors
Negative Free Cash Flow
Negative free cash flow limits financial flexibility and may reflect higher working-capital requirements or investment needs. If sustained, the deterioration could constrain debt reduction, dividends or growth investment despite continued accounting profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated Farm-to-Consumer Model
Wilmar’s vertical integration gives it control across sourcing, processing and distribution, supporting supply-chain efficiency and product capture. This structure can improve resilience and create recurring opportunities to shift toward higher-value downstream products.
Read all positive factors

Wilmar International (F34) vs. iShares MSCI Singapore ETF (EWS)

Wilmar International Business Overview & Revenue Model

Company Description
Founded in 1991 and based in Singapore, Wilmar International Limited is a prominent global agribusiness conglomerate. Its extensive operations span multiple continents, including Southeast Asia, China, India, Europe, Australia/New Zealand, and Afr...
How the Company Makes Money
Wilmar makes money primarily by processing, merchandising, and selling agricultural commodities and food products through an integrated “farm-to-consumer” model. Key revenue streams include: (1) Tropical Oils: earnings from oil palm cultivation (f...

Wilmar International Financial Statement Overview

Summary
Mixed fundamentals: income statement is moderate (stable revenue with modest TTM growth and positive but compressed margins), the balance sheet is somewhat leveraged (debt-to-equity ~1.46x), and cash flow is a key weakness with TTM free cash flow negative (~-143M) after being strongly positive in 2025.
Income Statement
62
Positive
Balance Sheet
56
Neutral
Cash Flow
38
Negative
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue76.08B71.51B67.38B67.16B73.40B65.79B
Gross Profit6.42B5.89B5.21B5.27B6.55B7.21B
EBITDA4.11B4.59B4.25B4.43B5.16B4.51B
Net Income1.42B1.43B1.17B1.52B2.40B1.89B
Balance Sheet
Total Assets66.93B65.61B59.57B61.81B60.40B58.72B
Cash, Cash Equivalents and Short-Term Investments12.81B7.65B10.46B10.51B8.34B7.90B
Total Debt32.50B30.78B28.61B30.94B30.66B29.38B
Total Liabilities41.52B40.56B37.18B39.06B37.80B36.12B
Stockholders Equity22.20B21.85B19.86B20.17B19.99B19.92B
Cash Flow
Free Cash Flow-142.96M1.33B-200.12M1.60B-435.37M-2.57B
Operating Cash Flow1.08B2.42B1.37B3.89B2.05B-45.04M
Investing Cash Flow-2.44B-4.10B-918.24M-2.46B-2.46B-2.36B
Financing Cash Flow1.19B-531.53M-1.79B113.23M667.23M2.41B

Wilmar International Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
75
Outperform
S$3.54B14.6722.01%6.82%9.22%15.05%
74
Outperform
S$6.84B13.7225.05%3.99%51.37%46.36%
68
Neutral
S$3.87B5.6110.42%3.34%8.96%-6.35%
68
Neutral
S$481.59M4.978.40%3.29%8.01%10.16%
62
Neutral
$20.33B14.63-3.31%3.23%1.93%-12.26%
55
Neutral
S$3.92B1.4828.53%5.26%-39.78%487.99%
48
Neutral
S$23.41B12.876.47%3.64%6.32%16.58%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SG:F34
Wilmar International
3.77
0.94
32.98%
SG:EB5
First Resources (Singapore)
4.35
2.74
169.68%
SG:E5H
Golden Agri-Resources
0.32
0.05
19.85%
SG:VC2
Olam Group
1.02
0.06
6.14%
SG:P8Z
Bumitama Agri Ltd.
2.02
0.95
88.79%
SG:5JS
Indofood Agri Resources Ltd.
0.35
<0.01
0.29%

Wilmar International Corporate Events

Wilmar’s China Unit Yihai Kerry Arawana Delivers Profit Surge Amid Weaker Cash Flow in 1H 2026
Aug 12, 2026
Yihai Kerry Arawana Holdings Co., Ltd, Wilmar International&#8217;s 89.99%-owned and Shenzhen-listed China subsidiary, reported solid top-line and earnings growth for the first half of 2026, underscoring the strength of Wilmar&#8217;s agrifood ope...
Wilmar Upsizes Syndicated Loan to US$1.8 Billion on Strong Lender Demand
May 29, 2026
Wilmar International has secured strong lender backing for a syndicated financing package that has been upsized from US$1.5 billion to US$1.8 billion, reflecting robust credit appetite for the Singapore-based agribusiness group. The facility is sp...
Wilmar Addresses Media Reports on Indonesian Transfer Pricing Probe
May 28, 2026
Wilmar International has responded to recent media reports that it is among 10 palm oil companies under investigation by Indonesian authorities for alleged under-invoicing and transfer pricing of exports. The company stated it has not received any...
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.Date of analysis: Aug 19, 2026