CSE GLOBAL LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 0.425 SGD | 0.00% |
|
+2.41% | -1.16% |
| 04-26 | Maybank Securities Adjusts CSE Global’s Price Target to SG$0.64 From SG$0.71, Keeps at Buy | MT |
| 04-19 | Singapore Shares Slide to End Week in Red; Vibrant Group Shares Slip 5% | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 279.4 | 240.2 | 253.6 | 209.1 | 264.4 | 288.2 | - | - |
| Enterprise Value (EV) 1 | 323.9 | 279.2 | 303.6 | 209.1 | 264.4 | 315.9 | 299.5 | 266 |
| P/E ratio | 11.8 x | 8.66 x | 17 x | 38.2 x | 11.7 x | 10.2 x | 8.44 x | 7.24 x |
| Yield | 5% | 5.85% | 5.56% | 8.09% | - | 6.59% | 6.59% | 6.59% |
| Capitalization / Revenue | 0.62 x | 0.48 x | 0.54 x | 0.37 x | 0.36 x | 0.35 x | 0.31 x | 0.28 x |
| EV / Revenue | 0.72 x | 0.56 x | 0.65 x | 0.37 x | 0.36 x | 0.38 x | 0.32 x | 0.26 x |
| EV / EBITDA | 8.1 x | 5.57 x | 8.72 x | 7.48 x | 4.3 x | 4.85 x | 4.22 x | 3.56 x |
| EV / FCF | 236 x | 9.54 x | 15.5 x | -13.5 x | - | 6.8 x | 6.3 x | 4.35 x |
| FCF Yield | 0.42% | 10.5% | 6.44% | -7.39% | - | 14.7% | 15.9% | 23% |
| Price to Book | 1.58 x | 1.25 x | 1.32 x | 0.98 x | - | 1.15 x | 1.06 x | 0.99 x |
| Nbr of stocks (in thousands) | 507,950 | 511,147 | 512,402 | 614,882 | 614,882 | 678,075 | - | - |
| Reference price 2 | 0.5500 | 0.4700 | 0.4950 | 0.3400 | 0.4300 | 0.4250 | 0.4250 | 0.4250 |
| Announcement Date | 20-02-26 | 21-02-23 | 22-02-28 | 23-02-27 | 24-02-27 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 451.8 | 502.8 | 468.7 | 557.7 | 725.1 | 826.3 | 926.3 | 1,029 |
| EBITDA 1 | 40 | 50.08 | 34.81 | 27.97 | 61.5 | 65.16 | 71 | 74.66 |
| EBIT 1 | 30.12 | 36.8 | 20.14 | 8.141 | 37.56 | 44.67 | 51.6 | 58.43 |
| Operating Margin | 6.67% | 7.32% | 4.3% | 1.46% | 5.18% | 5.41% | 5.57% | 5.68% |
| Earnings before Tax (EBT) 1 | 30 | 35.82 | 19.63 | 8.298 | 28.76 | 35.03 | 42.5 | 49.73 |
| Net income 1 | 24.05 | 28 | 15 | 4.769 | 22.51 | 27.33 | 33.07 | 38.33 |
| Net margin | 5.32% | 5.57% | 3.2% | 0.86% | 3.1% | 3.31% | 3.57% | 3.73% |
| EPS 2 | 0.0466 | 0.0543 | 0.0291 | 0.008900 | 0.0366 | 0.0417 | 0.0503 | 0.0587 |
| Free Cash Flow 1 | 1.37 | 29.27 | 19.55 | -15.45 | - | 46.48 | 47.52 | 61.2 |
| FCF margin | 0.3% | 5.82% | 4.17% | -2.77% | - | 5.63% | 5.13% | 5.95% |
| FCF Conversion (EBITDA) | 3.43% | 58.43% | 56.18% | - | - | 71.34% | 66.93% | 81.98% |
| FCF Conversion (Net income) | 5.7% | 104.51% | 130.33% | - | - | 170.07% | 143.71% | 159.65% |
| Dividend per Share 2 | 0.0275 | 0.0275 | 0.0275 | 0.0275 | - | 0.0280 | 0.0280 | 0.0280 |
| Announcement Date | 20-02-26 | 21-02-23 | 22-02-28 | 23-02-27 | 24-02-27 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2022 S1 | 2023 S1 | 2024 Q1 |
|---|---|---|---|
| Net sales | - | - | - |
| EBITDA | - | - | - |
| EBIT | - | - | - |
| Operating Margin | - | - | - |
| Earnings before Tax (EBT) 1 | - | - | 1,252 |
| Net income 1 | 4.534 | 11.01 | 945 |
| Net margin | - | - | - |
| EPS 2 | 0.008800 | 0.0179 | 0.002000 |
| Dividend per Share | - | - | - |
| Announcement Date | 22-08-12 | 23-08-10 | - |
1SGD in Million2SGD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 44.5 | 39 | 50 | - | - | 27.7 | 11.3 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | 22.2 |
| Leverage (Debt/EBITDA) | 1.113 x | 0.7781 x | 1.436 x | - | - | 0.4251 x | 0.1592 x | - |
| Free Cash Flow 1 | 1.37 | 29.3 | 19.6 | -15.5 | - | 46.5 | 47.5 | 61.2 |
| ROE (net income / shareholders' equity) | 13.8% | 15.2% | 7.82% | 2.36% | - | 11.8% | 12.6% | 12.8% |
| ROA (Net income/ Total Assets) | 7.23% | 7.02% | 3.75% | 1.07% | - | 5.3% | 5.9% | 6.32% |
| Assets 1 | 332.7 | 399.1 | 399.7 | 444.9 | - | 515.7 | 560.5 | 606.2 |
| Book Value Per Share 2 | 0.3500 | 0.3800 | 0.3700 | 0.3500 | - | 0.3700 | 0.4000 | 0.4300 |
| Cash Flow per Share | 0.0200 | 0.0800 | 0.0600 | - | - | - | - | - |
| Capex 1 | 10.5 | 9.56 | 9.83 | 15.5 | - | 11.3 | 11.4 | 11.5 |
| Capex / Sales | 2.32% | 1.9% | 2.1% | 2.77% | - | 1.37% | 1.23% | 1.12% |
| Announcement Date | 20-02-26 | 21-02-23 | 22-02-28 | 23-02-27 | 24-02-27 | - | - | - |
1SGD in Million2SGD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
BUY
Number of Analysts
3
Last Close Price
0.425
SGD
Average target price
0.6067
SGD
Spread / Average Target
+42.75%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -1.16% | 211M | |
| -13.18% | 194B | |
| +2.02% | 166B | |
| +1.86% | 153B | |
| +4.64% | 99.85B | |
| +5.88% | 77.56B | |
| +19.31% | 73.55B | |
| -7.01% | 71B | |
| -20.26% | 52.81B | |
| -5.37% | 47.86B |
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- Financials CSE Global Limited
