Wilmar International (F34) AI Stock Analysis

• Market Cap: $18.42B
• Dividend Yield: 4.47%
• Average Volume (3M): 7.04M
• Price to Earnings (P/E): 11.7
• Beta (1Y): 0.45
• Revenue Growth: 3.92%
• EPS Growth: -25.13%
• Country: SG
• Employees: 100,000
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Agricultural Farm Products
• EPS (TTM): 0.06
• Shares Outstanding: 6,403,401,000
• 10 Day Avg. Volume: 7,501,160
• 30 Day Avg. Volume: 7,039,910
• PEG Ratio: -0.58
• Price to Book (P/B): 0.71
• Price to Sales (P/S): 0.21
• P/FCF Ratio: -70.67
• Enterprise Value/Market Cap: 2.68
• Enterprise Value/Revenue: 0.71
• Enterprise Value/Gross Profit: 9.18
• Enterprise Value/Ebitda: 14.04
• 1Y Price Target: $3.16
• Price Target Upside: 1.06% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 8

• Rating: 69 Neutral
• Price Target: S$3.50 ▲(11.82% Upside)

Wilmar International's stock is supported by strong technical indicators and reasonable valuation, making it an attractive option for investors. However, financial performance is moderate due to challenges in cash flow and margin management, which slightly dampens the overall score.

Positive Factors

Child Protection Leadership

Wilmar's commitment to child protection enhances its corporate reputation and strengthens stakeholder trust, supporting long-term sustainability.

Subsidiary Performance

Strong subsidiary performance boosts Wilmar's overall profitability and market position, indicating effective operational strategies.

Supply Chain Efficiency

Efficient supply chain management ensures steady raw material flow and cost control, supporting long-term profitability and competitiveness.

Negative Factors

Legal Challenges

Ongoing legal issues could lead to financial and reputational risks, potentially impacting operations and stakeholder confidence.

Margin Pressures

Margin pressures suggest inefficiencies or rising costs, which could hinder profitability and require strategic adjustments to maintain competitiveness.

High Leverage

High leverage increases financial risk and limits flexibility, necessitating careful debt management to avoid potential financial strain.

Wilmar International Business Overview & Revenue Model

Company Description

Wilmar International Limited (SGX: F34) is a leading agribusiness group headquartered in Singapore, involved in the production and processing of food and consumer products. The company operates across several sectors, including oilseed and grains, consumer products, and sugar. Core products include palm oil, soybean, and related food products, as well as sugar and biofuels. Wilmar has a significant presence in Asia, particularly in China and India, and is engaged in various activities from farming and processing to trading and distribution.

How the Company Makes Money

Wilmar International generates revenue through multiple streams primarily focused on agribusiness. Its key revenue sources include the processing of oilseeds and grains, which involves crushing soybeans and oil palm to produce cooking oils and other food products. The company also benefits from its extensive consumer products division, which sells branded food items directly to consumers. Additionally, Wilmar's sugar segment contributes significantly to its income through the production and trading of sugar. The company has established strong partnerships with farmers and suppliers, enhancing its supply chain efficiency and ensuring a steady flow of raw materials. Furthermore, Wilmar's strategic investments in logistics and transportation help optimize its distribution channels, contributing to its profitability.

Wilmar International Financial Statement Overview

Summary

Wilmar International demonstrates stable profitability with consistent revenue growth in the TTM, but faces challenges in maintaining margins and cash flow efficiency. The high leverage requires careful management to avoid financial strain. Overall, the company shows resilience but needs to address cash flow and margin pressures to enhance financial health.

Income Statement

Wilmar International shows a modest revenue growth of 1.43% in the TTM, with stable gross and net profit margins. However, the declining EBIT and EBITDA margins indicate potential cost pressures or inefficiencies. The revenue growth has been inconsistent, with a notable decline in 2023, but the recent TTM period shows recovery.

Balance Sheet

The company's debt-to-equity ratio is relatively high at 1.41, indicating significant leverage, which could pose risks if not managed carefully. However, the return on equity remains stable, suggesting effective use of equity to generate profits. The equity ratio is moderate, reflecting a balanced asset structure.

Cash Flow

Wilmar's cash flow performance is mixed, with a significant decline in free cash flow growth in the TTM. The operating cash flow to net income ratio is low, indicating potential challenges in converting profits into cash. The free cash flow to net income ratio is also low, suggesting limited cash generation relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	69.34B	67.38B	67.16B	73.40B	65.79B	50.53B
Gross Profit	5.37B	5.21B	5.27B	6.55B	7.21B	5.60B
EBITDA	3.51B	4.25B	4.43B	5.16B	4.51B	4.03B
Net Income	1.19B	1.17B	1.52B	2.40B	1.89B	1.53B
Balance Sheet
Total Assets	60.72B	59.57B	61.81B	60.40B	58.72B	51.02B
Cash, Cash Equivalents and Short-Term Investments	12.92B	10.46B	10.51B	8.34B	7.90B	8.69B
Total Debt	29.11B	28.35B	30.94B	30.66B	29.38B	23.41B
Total Liabilities	37.41B	37.18B	39.06B	37.80B	36.12B	29.64B
Stockholders Equity	20.67B	19.86B	20.17B	19.99B	19.92B	18.88B
Cash Flow
Free Cash Flow	122.11M	-200.12M	1.60B	-435.37M	-2.57B	-1.42B
Operating Cash Flow	1.38B	1.37B	3.89B	2.05B	-45.04M	552.79M
Investing Cash Flow	-4.38B	-918.24M	-2.46B	-2.46B	-2.36B	-1.81B
Financing Cash Flow	2.49B	-1.79B	113.23M	667.23M	2.41B	1.79B

Wilmar International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.13
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:F34, the sentiment is Positive. The current price of 3.13 is above the 20-day moving average (MA) of 2.97, above the 50-day MA of 2.94, and above the 200-day MA of 2.98, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 73.74 is Negative, neither overbought nor oversold. The STOCH value of 80.17 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:F34.

Wilmar International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
P8Z	―	€2.22B	9.98	20.72%	6.34%	15.89%	21.52%
EB5	―	$2.66B	6.83	21.70%	5.51%	24.70%	62.15%
5JS	―	S$516.48M	5.37	8.46%	2.70%	13.03%	35.10%
F34	―	$18.42B	11.73	5.86%	4.47%	3.92%	-25.13%
Sector *	―	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
E5H	―	$3.43B	6.12	8.32%	2.87%	16.86%	252.80%
VC2	―	$3.67B	10.59	3.56%	2.04%	-11.89%	50.41%

Wilmar International Corporate Events

Wilmar International Achieves Perfect Score in Child Protection Benchmark

Wilmar International has been recognized as the sole company to achieve a perfect score in the 2025 State of Children’s Rights & Business Benchmark by the Global Child Forum and Boston Consulting Group. This marks the fourth consecutive year Wilmar has maintained this top ranking, highlighting its commitment to child protection through comprehensive policies and collaboration with NGOs and suppliers. The company’s efforts include supporting education for children in its plantations and extending child protection measures across its supply chain, reinforcing its leadership in advancing children’s rights.

Wilmar’s Indonesian Subsidiary Faces Legal Charges Over Sugar Importation

Wilmar International’s Indonesian subsidiary, P.T. Duta Sugar International, along with eight other sugar producers, faces legal charges by the Indonesian Public Prosecutor for allegedly causing financial losses to the state through unlawful sugar importation practices in 2016. The charges stem from actions taken under the directive of the then Trade Minister, who was later convicted but pardoned. The legal proceedings against the sugar producers are ongoing, with the outcome pending a court decision. Wilmar has stated that the financial impact of the deposit related to the charges is not material to the company, and it continues to support its detained General Manager.

Wilmar Faces Legal Setback in Indonesia, Maintains Annual Profitability Outlook

Wilmar International Limited announced that the Indonesian Supreme Court has overturned previous acquittals and imposed fines and compensation on its subsidiaries related to palm oil operations. Despite the legal setback, which is expected to result in a net loss for the third quarter of 2025, Wilmar anticipates remaining profitable for the full year, urging shareholders to exercise caution.

Wilmar Faces Legal Setback in Indonesian Supreme Court Ruling

Wilmar International Limited announced that the Indonesian Supreme Court has overturned the acquittals of its subsidiaries and other major palm oil groups on charges related to actions during a cooking oil shortage in Indonesia. The company maintains that its actions were compliant with regulations and done in good faith, despite the court’s decision, which has significant implications for its operations and stakeholders in the region.

Wilmar’s Subsidiary YKA Reports Strong 1H2025 Financial Results

Wilmar International’s subsidiary, Yihai Kerry Arawana Holdings Co., Ltd, reported strong financial results for the first half of 2025, with a 5.67% increase in revenue and a significant 60.07% rise in profit attributable to owners. The results highlight a substantial improvement in operational cash flow, which surged by 793.97%, indicating robust business performance and potential positive implications for stakeholders and market positioning.

Wilmar International Faces Investigation Over Rice Quality Allegations

Wilmar International Limited is currently under investigation by the Indonesian National Police Food Task Force due to alleged rice quality violations involving its subsidiary, PT Padi Indonesia Maju. Three employees from PT PIM, including its President Director, have been named as suspects for allegedly selling rice that does not meet packaging quality standards. Wilmar denies these allegations and is cooperating with authorities to resolve the matter.