D01 Stock Analysis: DFI RETAIL HOLDINGS | SG
Grocery Stores | SG, Singapore | Market Cap: 4.305m USD | 12M Return: 2.1% | BMG2624N1535 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.24M
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.
DFI Retail Group Holdings Limited is a pan-Asian retailer headquartered in Quarry Bay, Hong Kong, operating across 13 markets in Greater China and Southeast Asia, including Mainland China, Hong Kong, Macau, Taiwan, Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines, Cambodia, Laos, and Brunei. The company is organized into six reporting segments: Health and Beauty, Convenience, Food, Home Furnishings, Restaurants, and Other Retailing.
The group runs a multi-format retail portfolio that combines wholly-owned banners with licensed or franchised international brands. Notable names include Mannings and Guardian (health and beauty), 7-Eleven (convenience), Wellcome, Market Place, Cold Storage and Giant (food and grocery), IKEA (home furnishings), and Maxims, Starbucks, Shake Shack, The Cheesecake Factory, Genki Sushi and COVA (restaurants). It also operates the yuu customer loyalty programme and property and food processing activities under the Meadows, Yu Pin King, Vitapet and other banners.
DFI Retail Group was incorporated in 1886 and was formerly known as Dairy Farm International Holdings Limited, adopting its current name in May 2022. The company is a subsidiary of Bermuda-based Jardine Strategic Limited, the long-standing Asian conglomerate vehicle associated with the Jardine Matheson group.
Sector context: As a food retail-focused business classified under the GICS Consumer Staples sector, DFI operates in a traditionally defensive industry that benefits from relatively stable, recurring demand for everyday essentials. Its strategy of pairing proprietary banners with franchise or license partnerships for globally recognized brands (such as 7-Eleven, IKEA and Starbucks) allows the group to scale across diverse Asian markets while sharing operational risk with brand partners.
- Hong Kong border reopening boosts Mannings health and beauty sales growth
- 7-Eleven convenience store same-store sales drive segment profitability
- Restaurant portfolio margins pressured by Shake Shack and Genki expansion costs
| Net Income: 270.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.21 > 0.02 and ΔFCF/TA 6.60 > 1.0 |
| NWC/Revenue: -16.57% < 20% (prev -12.39%; Δ -4.18% < -1%) |
| CFO/TA 0.24 > 3% & CFO 1.10b > Net Income 270.3m |
| Net Debt (2.02b) to EBITDA (1.11b): 1.82 < 3 |
| Current Ratio: 0.41 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.35b) vs 12m ago 0.0% < -2% |
| Gross Margin: 36.70% > 18% (prev 36.41%; Δ 0.29% > 0.5%) |
| Asset Turnover: 176.9% > 50% (prev 160.6%; Δ 16.25% > 0%) |
| Interest Coverage Ratio: 2.03 > 6 (EBIT TTM 266.4m / Interest Expense TTM 131.4m) |
| DSRI: 1.02 (Receivables 190.3m/186.7m, Revenue 8.87b/8.87b) |
| GMI: 0.99 (GM 36.41% / 36.70%) |
| AQI: 1.20 (AQ_t 0.22 / AQ_t-1 0.18) |
| SGI: 1.0 (Revenue 8.87b / 8.87b) |
| TATA: -0.18 (NI 270.3m - CFO 1.10b) / TA 4.51b) |
| Beneish M = -2.92 (Cap -4..+1) = A |
As of October 14, 2026, the stock is trading at USD 3.24 with a total of 795,000 shares traded. Over the past week, the price has changed by +2.86%, over one month by -8.47%, over three months by -10.00% and over the past year by +2.11%.
Current recommended Stop Loss: 3.00 (which is 7.4% or 1.8 ATR below the current price).
DFI RETAIL HOLDINGS has no consensus analysts rating.
P/E Trailing = 10.9655
P/E Forward = 13.624
P/S = 0.4994
P/B = 21.7837
P/EG = 1.4046
Revenue TTM = 8.87b USD
EBIT TTM = 266.4m USD
EBITDA TTM = 1.11b USD
Long Term Debt = unknown (none)
Short Term Debt = 186.4m USD (from shortLongTermDebt, last quarter)
Debt = 2.18b USD (Leases only: 2.18b)
Net Debt = 2.02b USD (calculated: Debt 2.18b - CCE 164.2m)
Enterprise Value = 6.32b USD (4.30b + Debt 2.18b - CCE 164.2m)
Interest Coverage Ratio = 2.03 (Ebit TTM 266.4m / Interest Expense TTM 131.4m)
EV/FCF = 6.65x (Enterprise Value 6.32b / FCF TTM 950.4m)
FCF Yield = 15.03% (FCF TTM 950.4m / Enterprise Value 6.32b)
FCF Margin = 10.72% (FCF TTM 950.4m / Revenue TTM 8.87b)
Net Margin = 3.05% (Net Income TTM 270.3m / Revenue TTM 8.87b)
Gross Margin = 36.70% ((Revenue TTM 8.87b - Cost of Revenue TTM 5.61b) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 1.40 (Enterprise Value 6.32b / Total Assets 4.51b)
Interest Expense / Debt = 6.02% (Interest Expense 131.4m / Debt 2.18b)
Taxrate = 17.46% (57.9m / 331.6m)
NOPAT = 219.9m (EBIT 266.4m * (1 - 17.46%))
Current Ratio = 0.41 (Total Current Assets 1.01b / Total Current Liabilities 2.48b)
Debt / Equity = 10.73 (Debt 2.18b / totalStockholderEquity, last quarter 203.2m)
Debt / EBITDA = 1.82 (Net Debt 2.02b / EBITDA 1.11b)
Debt / FCF = 2.12 (Net Debt 2.02b / FCF TTM 950.4m)
Total Stockholder Equity = 423.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 5.39% (Net Income 270.3m / Total Assets 4.51b)
RoE = 63.89% (Net Income TTM 270.3m / Total Stockholder Equity 423.1m)
RoCE = 13.11% (EBIT 266.4m / Capital Employed (Total Assets 4.51b - Current Liab 2.48b))
RoIC = 11.78% (NOPAT 219.9m / Invested Capital 1.87b)
WACC = 5.97% (E(4.30b)/V(6.49b) * Re(6.48%) + D(2.18b)/V(6.49b) * Rd(6.02%) * (1-Tc(0.17)))
Discount Rate = 6.48% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 88.48 | Cagr: 0.04%
[DCF] Terminal Value 77.97% ; FCFF base≈890.2m ; Y1≈1.02b ; Y5≈1.50b
[DCF] Fair Price = 15.21 (EV 22.6b - Net Debt 2.02b = Equity 20.6b / Shares 1.35b; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
Revenue Correlation: -86.60 | Revenue CAGR: -1.65% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=0.22 | Chg30d=+1.45% | Revisions=+25% | GrowthEPS=+8.8% | GrowthRev=-5.5%
EPS next Year (2027-12-31): EPS=0.23 | Chg30d=-6.08% | Revisions=-25% | GrowthEPS=+4.5% | GrowthRev=+6.4%
[Analyst] Revisions Ratio: +0% (up=1, down=1)