BN4 Stock Analysis: KEPPEL | SG
Conglomerates | SG, Singapore | Market Cap: 19.572m SGD | 12M Return: 46.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 33.1M
Warnings
No concerns identified
Tailwinds
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.
Keppel Ltd. is a Singapore-headquartered investment holding company operating across three core pillars: infrastructure, real estate, and connectivity. The group carries out a broad range of activities spanning energy and environmental solutions (including power generation, renewables, waste-to-energy, desalination, and district cooling), property development and investment, master development, data centre leasing and operations, telecommunications and IT equipment trading, and golf club operations. It also manages private funds as well as listed real estate investment and business trusts, and operates in Singapore, China, Hong Kong, and other Far East and ASEAN markets, alongside international exposure.
The company was incorporated in 1968 and was formerly known as Keppel Corporation before adopting the Keppel Ltd. name in January 2024. Classified within the Industrials sector as an Industrial Conglomerate under the GICS framework, Keppels business model is notable for combining direct operating businesses in heavy infrastructure and real estate with a funds-management platform that invests across its own operating verticals.
- Data centre capacity expansion accelerates connectivity segment revenue
- Fund management AUM growth lifts fee-based earnings across infrastructure and real estate
- Singapore residential property sales recovery supports real estate segment margins
| Net Income: 800.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 2.03 > 1.0 |
| NWC/Revenue: 33.16% < 20% (prev 31.95%; Δ 1.21% < -1%) |
| CFO/TA 0.02 > 3% & CFO 661.5m > Net Income 800.1m |
| Net Debt (-1.11b) to EBITDA (1.37b): -0.81 < 3 |
| Current Ratio: 1.34 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.80b) vs 12m ago 2.23% < -2% |
| Gross Margin: 29.18% > 18% (prev 25.58%; Δ 3.60% > 0.5%) |
| Asset Turnover: 21.86% > 50% (prev 20.91%; Δ 0.94% > 0%) |
| Interest Coverage Ratio: 2.67 > 6 (EBIT TTM 1.12b / Interest Expense TTM 420.8m) |
| DSRI: 1.14 (Receivables 1.03b/870.8m, Revenue 5.98b/5.78b) |
| GMI: 0.88 (GM 25.58% / 29.18%) |
| AQI: 0.95 (AQ_t 0.57 / AQ_t-1 0.60) |
| SGI: 1.03 (Revenue 5.98b / 5.78b) |
| TATA: 0.01 (NI 800.1m - CFO 661.5m) / TA 27.1b) |
| Beneish M = -3.02 (Cap -4..+1) = AA |
As of July 11, 2026, the stock is trading at SGD 11.48 with a total of 8,702,400 shares traded. Over the past week, the price has changed by -0.09%, over one month by +3.62%, over three months by -7.68% and over the past year by +46.59%.
Current recommended Stop Loss: 11.20 (which is 2.4% or 1.4 ATR below the current price).
KEPPEL has no consensus analysts rating.
P/E Trailing = 19.3929
P/E Forward = 19.1205
P/S = 3.2712
P/B = 1.8081
P/EG = 2.8542
Revenue TTM = 5.98b SGD
EBIT TTM = 1.12b SGD
EBITDA TTM = 1.37b SGD
Long Term Debt = 9.41b SGD (from longTermDebt, last quarter)
Short Term Debt = 1.91b SGD (from shortLongTermDebt, last quarter)
Debt = 120.5m SGD (Leases only: 120.5m)
Net Debt = -1.11b SGD (calculated: Debt 120.5m - CCE 1.23b)
Enterprise Value = 18.5b SGD (19.6b + Debt 120.5m - CCE 1.23b)
Interest Coverage Ratio = 2.67 (Ebit TTM 1.12b / Interest Expense TTM 420.8m)
EV/FCF = 125.0x (Enterprise Value 18.5b / FCF TTM 147.7m)
FCF Yield = 0.80% (FCF TTM 147.7m / Enterprise Value 18.5b)
FCF Margin = 2.47% (FCF TTM 147.7m / Revenue TTM 5.98b)
Net Margin = 13.37% (Net Income TTM 800.1m / Revenue TTM 5.98b)
Gross Margin = 29.18% ((Revenue TTM 5.98b - Cost of Revenue TTM 4.24b) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.68 (Enterprise Value 18.5b / Total Assets 27.1b)
Interest Expense / Debt = 349.3% (Interest Expense 420.8m / Debt 120.5m)
Taxrate = 23.21% (305.7m / 1.32b)
NOPAT = 862.0m (EBIT 1.12b * (1 - 23.21%))
Current Ratio = 1.34 (Total Current Assets 7.76b / Total Current Liabilities 5.78b)
Debt / Equity = 0.01 (Debt 120.5m / totalStockholderEquity, last quarter 10.9b)
Debt / EBITDA = -0.81 (Net Debt -1.11b / EBITDA 1.37b)
Debt / FCF = -7.50 (Net Debt -1.11b / FCF TTM 147.7m)
Total Stockholder Equity = 10.9b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.92% (Net Income 800.1m / Total Assets 27.1b)
RoE = 7.35% (Net Income TTM 800.1m / Total Stockholder Equity 10.9b)
RoCE = 5.53% (EBIT 1.12b / Capital Employed (Equity 10.9b + L.T.Debt 9.41b))
RoIC = 4.10% (NOPAT 862.0m / Invested Capital 21.0b)
WACC = 8.04% (E(19.6b)/V(19.7b) * Re(8.09%) + (debt cost/tax rate unavailable))
Discount Rate = 8.09% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -67.42 | Cagr: -1.53%
[DCF] Terminal Value 75.44% ; FCFF base≈147.7m ; Y1≈148.3m ; Y5≈157.1m
[DCF] Fair Price = 1.97 (EV 2.44b - Net Debt -1.11b = Equity 3.55b / Shares 1.80b; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: -76.80 | Revenue CAGR: -7.32% | SUE: -0.30 | # QB: 0
EPS current Year (2026-12-31): EPS=0.56 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=+1.2% | GrowthRev=-1.9%
EPS next Year (2027-12-31): EPS=0.62 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=+10.3% | GrowthRev=+8.4%
[Analyst] Revisions Ratio: +0% (up=4, down=4)