Wilmar International Limited (F34.SI) stock analysis

In our weekly check, Wilmar International Limited is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 13 pass, warnings: 5, red flags: 7.

About Wilmar International Limited

Wilmar International Limited is a Consumer Defensive company (Agricultural Farm Products) based in Singapore, listed on SES as F34.SI.

What our checks show for F34.SI

Red flags

• Net debt is 6.4x a year of EBITDA (debt/equity 1.46). That limits room in a downturn and raises refinancing risk.
• The net margin fell by 1 points over 5 years, to 1.9%: the company keeps less of each sale as profit.
• The gross margin fell by 2.5 points, to 8.4%: costs are rising faster than prices.
• The net margin is only 1.9%: little room if costs rise.
• Free cash flow is negative (-0.2% of revenue): the business spends more cash than it brings in.
• The stock has fallen as much as 68% from a peak. Would you have held through that?
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Operating cash flow is only 0.76x net profit: part of the reported profit does not arrive as cash.
• Revenue grew only 1.2% a year over the last 3 years.
• Earnings per share fell 15.5% a year over the last 3 years.
• Net profit fell 16% a year over the last 3 years.
• Return on capital (ROCE) is only 8%.

Strengths

• The dividend takes 48% of profit: there is a cushion.
• The price is 11.4 times earnings (P/E), reasonable for its growth.
• A large company: market value $16.32 billion.
• Beta 0.11: the stock usually moves less than the market.
• Actively traded: about 5.7 million shares a day.

Similar companies

TSN · BG · ADM · AGRO · MOWI.OL · CALM

Questions

What grade does Wilmar International Limited (F34.SI) have?

In our weekly check, Wilmar International Limited is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 13 pass, warnings: 5, red flags: 7. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of F34.SI stock?

This week's biggest flags for Wilmar International Limited: High debt, Margins falling, Gross margin falling. In total 12 of 25 checks show a warning or a red flag.

What does Wilmar International Limited do?

Wilmar International Limited is a Consumer Defensive company (Agricultural Farm Products) based in Singapore, listed on SES as F34.SI.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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