Financials Oversea-Chinese Banking Corporation Limited

Equities

O39

SG1S04926220

Banks

Market Closed - Singapore S.E. 05:04:34 2024-04-26 am EDT 5-day change 1st Jan Change
14.27 SGD -0.42% Intraday chart for Oversea-Chinese Banking Corporation Limited +4.24% +9.77%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 48,323 45,005 51,205 54,750 58,427 64,221 - -
Enterprise Value (EV) 1 48,323 45,005 51,205 54,750 58,427 64,221 64,221 64,221
P/E ratio 9.84 x 12.6 x 10.7 x 9.59 x 8.39 x 9 x 8.83 x 8.63 x
Yield 4.83% 3.16% 4.65% 5.58% 6.31% 6.03% 6.13% 6.34%
Capitalization / Revenue 4.45 x 4.44 x 4.83 x 4.69 x 4.33 x 4.65 x 4.54 x 4.42 x
EV / Revenue 4.45 x 4.44 x 4.83 x 4.69 x 4.33 x 4.65 x 4.54 x 4.42 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.06 x 0.93 x 0.99 x 1.07 x 1.1 x 1.13 x 1.06 x 1.02 x
Nbr of stocks (in thousands) 4,401,011 4,473,668 4,491,692 4,495,088 4,494,384 4,500,427 - -
Reference price 2 10.98 10.06 11.40 12.18 13.00 14.27 14.27 14.27
Announcement Date 2/20/20 2/23/21 2/22/22 2/23/23 2/27/24 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 10,871 10,139 10,596 11,675 13,507 13,809 14,160 14,527
EBITDA - - - - - - - -
EBIT 1 6,227 5,700 5,832 6,649 8,284 8,261 8,499 8,509
Operating Margin 57.28% 56.22% 55.04% 56.95% 61.33% 59.83% 60.02% 58.58%
Earnings before Tax (EBT) 1 5,800 4,165 5,680 6,939 8,401 8,500 8,677 8,792
Net income 1 4,869 3,586 4,858 5,748 7,021 7,149 7,285 7,419
Net margin 44.79% 35.37% 45.85% 49.23% 51.98% 51.78% 51.45% 51.07%
EPS 2 1.116 0.8000 1.070 1.270 1.550 1.585 1.617 1.653
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.5300 0.3180 0.5300 0.6800 0.8200 0.8608 0.8753 0.9054
Announcement Date 2/20/20 2/23/21 2/22/22 2/23/23 2/27/24 - - -
1SGD in Million2SGD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 - - - 2,560 2,550 2,643 2,879 3,152 3,001 - 3,350 3,455 3,429 3,273 - 3,424 3,501 3,483 3,461 3,470
EBITDA - - - - - - - - - - - - - - - - - - - -
EBIT 1 - - - 1,372 1,261 1,438 1,871 2,139 1,702 - 2,106 2,126 2,089 1,963 - 2,076 - - - -
Operating Margin - - - 53.59% 49.45% 54.41% 64.99% 67.86% 56.71% - 62.87% 61.53% 60.92% 59.98% - 60.64% - - - -
Earnings before Tax (EBT) 1 - - - 1,387 1,116 1,623 1,772 1,959 1,585 - 2,231 2,098 2,133 1,939 - 2,121 2,135 2,110 2,060 2,159
Net income 1 - - - 1,224 973 1,356 1,481 1,605 1,306 - 1,879 1,710 1,810 1,622 - 1,803 1,823 1,800 1,755 1,840
Net margin - - - 47.81% 38.16% 51.31% 51.44% 50.92% 43.52% - 56.09% 49.49% 52.79% 49.56% - 52.68% 52.06% 51.67% 50.72% 53.04%
EPS 2 - 0.3200 - 0.2680 0.8500 0.3030 0.3290 0.3500 1.140 - 1.680 0.3800 - - - 0.3946 0.3906 0.3903 0.3817 0.4068
Dividend per Share 2 0.2800 - 0.2500 - 0.2800 - 0.2800 - 0.4000 0.4000 - 0.4000 - 0.4200 0.4200 - 0.4200 - 0.4200 -
Announcement Date 2/20/20 8/6/20 8/3/21 11/3/21 2/22/22 4/28/22 8/2/22 11/3/22 2/23/23 2/23/23 5/9/23 8/3/23 11/9/23 2/27/24 2/27/24 - - - - -
1SGD in Million2SGD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 11.4% 7.6% 9.5% 11.1% 13.7% 12.9% 12.5% 12.1%
ROA (Net income/ Total Assets) 1.26% 0.85% 0.91% 1.25% 1.46% 1.2% 1.2% 1.17%
Assets 1 386,429 421,882 531,801 459,840 480,890 596,019 606,184 635,369
Book Value Per Share 2 10.40 10.80 11.50 11.40 11.80 12.70 13.40 14.00
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/20/20 2/23/21 2/22/22 2/23/23 2/27/24 - - -
1SGD in Million2SGD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
14.27 SGD
Average target price
14.59 SGD
Spread / Average Target
+2.23%
Consensus
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  4. Financials Oversea-Chinese Banking Corporation Limited