5E2 Stock Analysis: Seatrium | SG
Oil & Gas Equipment & Services | SG, Singapore | Market Cap: 6.811m SGD | 12M Return: -8.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 30.0M
Rev. Trend: 100.0%
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Seatrium Limited is a Singapore-based engineering solutions provider serving the offshore, marine, and energy industries. The company operates through five segments: Rigs & Floaters, Repairs & Upgrades, Offshore Platforms, Specialised Shipbuilding, Ship Chartering, and Others. Its core capabilities span the full project lifecycle, including turnkey design, engineering, procurement, construction, installation, commissioning, and brownfield solutions for offshore newbuildings, vessel conversions, and floating production systems such as FSOs, FPSOs, FDPSOs, FPUs, and MOPUs. Seatrium also services gas terminals, FLNGs, FSRUs, drilling rigs, and fixed offshore platforms, and provides dry-docking, repair, retrofitting, and life-extension work across a broad range of vessels including cruise ships, ferries, gas carriers, and drilling units.
In the energy transition space, the company is expanding into high-voltage direct current (HVDC) converter stations, HVAC substations, wind turbine foundations, and floating offshore wind solutions, alongside offerings in LNG and ammonia assets, alternative fuels, and digitalisation. The company was formerly known as Sembcorp Marine Ltd before rebranding to Seatrium Limited in April 2023, and was incorporated in 1963.
Seatrium operates in the Oil & Gas Equipment & Services industry, where business is typically driven by a multi-year order book and long project execution cycles tied to offshore field development decisions by oil majors and national oil companies. FPSOs and floating production units are central to deepwater oil and gas extraction, making specialist yards like Seatrium critical to the offshore production value chain.
- FPSO and FSO newbuild orders anchor offshore segment backlog
- Offshore wind and HVDC demand accelerates energy transition revenue
- Repairs and upgrades margins expand on diversified vessel backlog
| Net Income: 323.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 0.13 > 1.0 |
| NWC/Revenue: 14.69% < 20% (prev 6.00%; Δ 8.69% < -1%) |
| CFO/TA 0.01 > 3% & CFO 142.3m > Net Income 323.6m |
| Net Debt (-1.34b) to EBITDA (962.0m): -1.40 < 3 |
| Current Ratio: 1.23 > 1.5 & < 3 |
| Outstanding Shares: last fiscal year (3.39b) vs prev 0.01% < -2% |
| Gross Margin: 7.39% > 18% (prev 3.15%; Δ 4.24% > 0.5%) |
| Asset Turnover: 64.48% > 50% (prev 52.80%; Δ 11.68% > 0%) |
| Interest Coverage Ratio: 3.90 > 6 (EBIT TTM 613.4m / Interest Expense TTM 157.2m) |
| DSRI: 0.44 (Receivables 843.5m/1.53b, Revenue 11.5b/9.23b) |
| GMI: 0.43 (GM 3.15% / 7.39%) |
| AQI: 0.89 (AQ_t 0.25 / AQ_t-1 0.28) |
| SGI: 1.24 (Revenue 11.5b / 9.23b) |
| TATA: 0.01 (NI 323.6m - CFO 142.3m) / TA 18.1b) |
| Beneish M = -3.89 (Cap -4..+1) = AAA |
As of October 13, 2026, the stock is trading at SGD 1.95 with a total of 13,939,500 shares traded. Over the past week, the price has changed by -1.48%, over one month by -6.98%, over three months by +2.56% and over the past year by -8.75%.
Current recommended Stop Loss: 1.80 (which is 7.7% or 3 ATR below the current price).
Seatrium has no consensus analysts rating.
P/E Trailing = 12.5625
P/E Forward = 13.1234
P/S = 0.581
P/B = 0.9698
P/EG = 0.795
Revenue TTM = 11.5b SGD
EBIT TTM = 613.4m SGD
EBITDA TTM = 962.0m SGD
Long Term Debt = 2.49b SGD (from longTermDebt, last quarter)
Short Term Debt = 900k SGD (from shortLongTermDebt, last quarter)
Debt = 465.1m SGD (Leases only: 465.1m)
Net Debt = -1.34b SGD (calculated: Debt 465.1m - CCE 1.81b)
Enterprise Value = 5.47b SGD (6.81b + Debt 465.1m - CCE 1.81b)
Interest Coverage Ratio = 3.90 (Ebit TTM 613.4m / Interest Expense TTM 157.2m)
EV/FCF = 277.4x (Enterprise Value 5.47b / FCF TTM 19.7m)
FCF Yield = 0.36% (FCF TTM 19.7m / Enterprise Value 5.47b)
FCF Margin = 0.17% (FCF TTM 19.7m / Revenue TTM 11.5b)
Net Margin = 2.82% (Net Income TTM 323.6m / Revenue TTM 11.5b)
Gross Margin = 7.39% ((Revenue TTM 11.5b - Cost of Revenue TTM 10.6b) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.30 (Enterprise Value 5.47b / Total Assets 18.1b)
Interest Expense / Debt = 33.79% (Interest Expense 157.2m / Debt 465.1m)
Taxrate = 29.89% (136.3m / 456.2m)
NOPAT = 430.1m (EBIT 613.4m * (1 - 29.89%))
Current Ratio = 1.23 (Total Current Assets 9.17b / Total Current Liabilities 7.48b)
Debt / Equity = 0.07 (Debt 465.1m / totalStockholderEquity, last quarter 6.91b)
Debt / EBITDA = -1.40 (Net Debt -1.34b / EBITDA 962.0m)
Debt / FCF = -68.12 (Net Debt -1.34b / FCF TTM 19.7m)
Total Stockholder Equity = 6.54b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.82% (Net Income 323.6m / Total Assets 18.1b)
RoE = 4.95% (Net Income TTM 323.6m / Total Stockholder Equity 6.54b)
RoCE = 6.80% (EBIT 613.4m / Capital Employed (Equity 6.54b + L.T.Debt 2.49b))
RoIC = 4.28% (NOPAT 430.1m / Invested Capital 10.0b)
WACC = 9.31% (E(6.81b)/V(7.28b) * Re(8.33%) + D(465.1m)/V(7.28b) * Rd(33.79%) * (1-Tc(0.30)))
Discount Rate = 8.33% (= CAPM, Blume Beta Adj.)
[DCF] Terminal Value 72.13% ; FCFF base≈19.7m ; Y1≈19.8m ; Y5≈21.0m
[DCF] Fair Price = 0.48 (EV 280.3m - Net Debt -1.34b = Equity 1.62b / Shares 3.39b; r=9.31% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 99.97 | Revenue CAGR: 25.43% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=0.14 | Chg30d=-0.86% | Revisions=+0% | GrowthEPS=+62.0% | GrowthRev=-5.2%
EPS next Year (2027-12-31): EPS=0.15 | Chg30d=+0.74% | Revisions=-22% | GrowthEPS=+8.8% | GrowthRev=-7.9%
[Analyst] Revisions Ratio: -15% (up=4, down=6)