5E2 Stock Analysis: Seatrium | SG
Oil & Gas Equipment & Services | SG, Singapore | Market Cap: 6.710m SGD | 12M Return: -15.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 24.1M
Rev. Trend: 100.0%
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 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-headquartered engineering company serving the offshore, marine, and energy industries. Its operations span five segments: Rigs & Floaters, Repairs & Upgrades, Offshore Platforms, Specialised Shipbuilding, Ship Chartering, and Others. The company provides turnkey services including design, engineering, procurement, construction, installation, and commissioning for offshore structures such as FPSOs, FSOs, jack-ups, semi-submersibles, drill ships, and TLPs/SPARs. It also delivers repair, refurbishment, and conversion work for vessels and offshore assets, and builds specialised ships including ferries, RoPax, cruise, and naval support vessels.
Beyond traditional offshore oil and gas, Seatrium has expanded into energy-transition offerings, including HVDC/HVAC converter stations, wind turbine foundations, floating offshore wind platforms, LNG and ammonia solutions, and alternative fuel value-chain services. The company was incorporated in 1963 and was renamed from Sembcorp Marine Ltd to Seatrium Limited in April 2023.
As an oil & gas equipment and services provider, Seatriums business model depends heavily on global offshore capex cycles and exploration activity, with growing diversification into offshore wind and low-carbon energy infrastructure. Singapore is one of the worlds largest hubs for offshore engineering and shipyard services, making Seatrium part of a regionally concentrated cluster of yards competing for international tenders.
- FPSO and offshore wind backlog drives revenue growth
- Merger synergies and repairs segment expand operating margins
- Offshore oil and gas capex recovery lifts rig and floater demand
| 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 (837.7m): -1.60 < 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: 3.11 > 6 (EBIT TTM 489.0m / 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 July 14, 2026, the stock is trading at SGD 1.95 with a total of 11,659,500 shares traded. Over the past week, the price has changed by +1.01%, over one month by +3.09%, over three months by -16.97% and over the past year by -15.59%.
Current recommended Stop Loss: 1.80 (which is 7.7% or 3.7 ATR below the current price).
Seatrium has no consensus analysts rating.
P/E Trailing = 22.0
P/E Forward = 13.8504
P/S = 0.5849
P/B = 0.9714
P/EG = 0.6522
Revenue TTM = 11.5b SGD
EBIT TTM = 489.0m SGD
EBITDA TTM = 837.7m 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 = 5.37b SGD (6.71b + Debt 465.1m - CCE 1.81b)
Interest Coverage Ratio = 3.11 (Ebit TTM 489.0m / Interest Expense TTM 157.2m)
EV/FCF = 272.2x (Enterprise Value 5.37b / FCF TTM 19.7m)
FCF Yield = 0.37% (FCF TTM 19.7m / Enterprise Value 5.37b)
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 5.37b / Total Assets 18.1b)
Interest Expense / Debt = 33.79% (Interest Expense 157.2m / Debt 465.1m)
Taxrate = 29.89% (136.3m / 456.2m)
NOPAT = 342.9m (EBIT 489.0m * (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 = -1.60 (Net Debt -1.34b / EBITDA 837.7m)
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 = 5.42% (EBIT 489.0m / Capital Employed (Equity 6.54b + L.T.Debt 2.49b))
RoIC = 3.41% (NOPAT 342.9m / Invested Capital 10.0b)
WACC = 10.23% (E(6.71b)/V(7.17b) * Re(9.30%) + D(465.1m)/V(7.17b) * Rd(33.79%) * (1-Tc(0.30)))
Discount Rate = 9.30% (= CAPM, Blume Beta Adj.)
[DCF] Terminal Value 69.13% ; FCFF base≈19.7m ; Y1≈19.8m ; Y5≈21.0m
[DCF] Fair Price = 0.47 (EV 247.1m - Net Debt -1.34b = Equity 1.59b / Shares 3.39b; r=10.23% [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=0.13 | Chg30d=+0.08% | Revisions=+0% | GrowthEPS=+53.4% | GrowthRev=-8.8%
EPS next Year (2027-12-31): EPS=0.16 | Chg30d=-0.06% | Revisions=+0% | GrowthEPS=+19.5% | GrowthRev=-2.4%
[Analyst] Revisions Ratio: +0% (up=0, down=0)