Ho Bee Land Limited (H13) AI Stock Analysis

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Ho Bee Land Limited

(SGX:H13)

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Rating:57Neutral

Price Target:SGD 2.00▲(6.38% Upside)

Action:reiterated

Date:10/16/26

The score is primarily driven by a mixed financial picture—stronger recent profitability and cash flow but capped by cyclical earnings volatility and low ROE. Technicals detract meaningfully due to a clear downtrend and negative MACD, while reasonable valuation (P/E ~12 and ~2.7% yield) provides partial support.

Positive Factors

Profitability recoveryThe latest TTM results show a meaningful recovery in operating profitability, with a high net margin and substantial EBIT relative to revenue. This provides a stronger earnings base for the next several months and indicates that the property portfolio can generate significant profits when conditions are supportive.

Negative Factors

Cyclical earnings volatilityThe sizeable 2023 net loss demonstrates that reported earnings can change materially across the property cycle. Sensitivity to valuation and revaluation effects makes profits less predictable than recent TTM results alone suggest, creating a durable risk to earnings stability over the coming quarters.

Ho Bee Land Limited (H13) vs. iShares MSCI Singapore ETF (EWS)

Market Cap: SGD 1.24B
Dividend Yield: 2.66%
Average Volume (3M): 71.26K
Price to Earnings (P/E): 12.3
Beta (1Y): 0.54
Revenue Growth: 5.35%
EPS Growth: -32.58%
Country: Singapore
Employees: 250
Sector: Real Estate
Sector Strength: 65
Industry: Real Estate - Diversified

Ho Bee Land Limited Business Overview & Revenue Model

Company Description

Established in 1987, Ho Bee Land Limited operates as a real estate firm. Since its listing on the Singapore Exchange Mainboard in 1999, the company has expanded its presence internationally, with interests across Australia, China, the United Kingdom,...

How the Company Makes Money

Ho Bee Land Limited makes money primarily through its real estate activities. Key revenue streams typically include: (1) Property development income, where the company develops residential or commercial properties and recognizes revenue and profit up...

Ho Bee Land Limited Financial Statement Overview

Summary

Financials show a solid TTM profitability recovery (net margin ~20% and EBIT ~S$335m on ~S$500m revenue) and improved cash generation (TTM OCF/FCF ~S$239m with strong FCF growth). However, quality is capped by cyclical volatility (including a sizeable 2023 net loss), modest ROE (~2.7%), and historically inconsistent cash conversion in prior years.

Income Statement

64Positive

Balance Sheet

62Positive

Cash Flow

57Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	499.56M	440.05M	528.04M	444.87M	435.62M	347.69M
Gross Profit	499.56M	261.46M	288.14M	284.51M	289.18M	225.03M
EBITDA	1.40M	257.48M	313.01M	-49.70M	270.41M	400.38M
Net Income	101.52M	100.20M	109.56M	-259.85M	165.88M	330.51M
Balance Sheet
Total Assets	6.58B	6.55B	6.58B	6.98B	7.60B	6.74B
Cash, Cash Equivalents and Short-Term Investments	223.70M	253.26M	183.12M	175.20M	344.77M	123.42M
Total Debt	2.52B	2.53B	2.62B	3.06B	3.42B	2.55B
Total Liabilities	2.77B	2.77B	2.88B	3.37B	3.67B	2.79B
Stockholders Equity	3.80B	3.77B	3.69B	3.60B	3.92B	3.93B
Cash Flow
Free Cash Flow	238.54M	162.84M	254.24M	150.44M	46.95M	51.84M
Operating Cash Flow	238.54M	177.11M	278.86M	319.10M	57.09M	54.16M
Investing Cash Flow	-48.53M	140.18M	116.96M	204.32M	-890.97M	-41.65M
Financing Cash Flow	-111.36M	-274.16M	-385.65M	-681.86M	1.05B	-8.06M

Ho Bee Land Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price1.88

Price Trends

50DMA1.96Negative

100DMA2.00Negative

200DMA2.08Negative

Market Momentum

MACD-0.02Negative

RSI44.36Neutral

STOCH33.33Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:H13, the sentiment is Negative. The current price of 1.88 is below the 20-day moving average (MA) of 1.90, below the 50-day MA of 1.96, and below the 200-day MA of 2.08, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 44.36 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:H13.

Ho Bee Land Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (65)

Financial Indicators

SG:H13 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SG:U14	67Neutral	SGD 6.77B	12.43	4.44%	2.25%	1.56%	21.82%
Sector *	65Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
SG:F17	60Neutral	SGD 2.24B	27.45	2.03%	3.96%	-24.16%	-12.68%
SG:C09	59Neutral	SGD 6.54B	7.10	8.76%	4.35%	36.24%	326.79%
SG:H13	57Neutral	SGD 1.25B	12.30	2.68%	2.66%	5.35%	-32.58%
SG:W05	54Neutral	SGD 1.07B	46.39	0.80%	2.13%	168.17%	―
SG:LJ3	44Neutral	SGD 612.89M	-1.80	-12.74%	2.26%	1.25%	-179.12%

* Real Estate Sector Average

Performance Comparison

SG:H13 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SG:H13	Ho Bee Land Limited	1.88	-0.31	-14.08%
SG:C09	City Developments	7.12	-0.04	-0.52%
SG:U14	UOL Group	7.88	-0.64	-7.47%
SG:F17	GuocoLand Limited	2.02	0.06	2.85%
SG:LJ3	OUE Ltd.	0.89	-0.33	-27.22%
SG:W05	Wing Tai Holdings Limited	1.43	0.02	1.49%

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: Oct 16, 2026

Ho Bee Land Limited AI Stock Analysis