Financials Oversea-Chinese Banking Corporation Limited

Equities

O39

SG1S04926220

Banks

Market Closed - Singapore S.E. 05:13:13 2024-06-07 am EDT 5-day change 1st Jan Change
14.27 SGD -0.21% Intraday chart for Oversea-Chinese Banking Corporation Limited -1.65% +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 64,178 - -
Enterprise Value (EV) 1 48,323 45,005 51,205 54,750 58,427 64,178 64,178 64,178
P/E ratio 9.84 x 12.6 x 10.7 x 9.59 x 8.39 x 8.74 x 8.67 x 8.49 x
Yield 4.83% 3.16% 4.65% 5.58% 6.31% 6.04% 6.21% 6.35%
Capitalization / Revenue 4.45 x 4.44 x 4.83 x 4.69 x 4.33 x 4.57 x 4.48 x 4.36 x
EV / Revenue 4.45 x 4.44 x 4.83 x 4.69 x 4.33 x 4.57 x 4.48 x 4.36 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 1.01 x
Nbr of stocks (in thousands) 4,401,011 4,473,668 4,491,692 4,495,088 4,494,384 4,497,376 - -
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 14,057 14,338 14,720
EBITDA - - - - - - - -
EBIT 1 6,227 5,700 5,832 6,649 8,284 8,255 8,425 8,485
Operating Margin 57.28% 56.22% 55.04% 56.95% 61.33% 58.72% 58.76% 57.64%
Earnings before Tax (EBT) 1 5,800 4,165 5,680 6,939 8,401 8,739 8,866 9,015
Net income 1 4,869 3,586 4,858 5,748 7,021 7,360 7,429 7,556
Net margin 44.79% 35.37% 45.85% 49.23% 51.98% 52.36% 51.82% 51.33%
EPS 2 1.116 0.8000 1.070 1.270 1.550 1.633 1.646 1.681
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 0.8619 0.8867 0.9057
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 - 3,626 3,494 3,506 3,483 3,510
EBITDA - - - - - - - - - - - - - - - - - - - -
EBIT 1 - - - 1,372 1,261 1,438 1,871 2,139 1,702 - 2,106 2,126 2,089 1,963 - 2,280 - - - -
Operating Margin - - - 53.59% 49.45% 54.41% 64.99% 67.86% 56.71% - 62.87% 61.53% 60.92% 59.98% - 62.88% - - - -
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 - 2,341 2,183 2,156 2,106 2,149
Net income 1 - - - 1,224 973 1,356 1,481 1,605 1,306 - 1,879 1,710 1,810 1,622 - 1,982 1,865 1,840 1,795 1,831
Net margin - - - 47.81% 38.16% 51.31% 51.44% 50.92% 43.52% - 56.09% 49.49% 52.79% 49.56% - 54.66% 53.37% 52.47% 51.54% 52.18%
EPS 2 - 0.3200 - 0.2680 0.8500 0.3030 0.3290 0.3500 1.140 - 1.680 0.3800 - - - 1.760 0.4122 0.4067 0.3968 0.4048
Dividend per Share 2 0.2800 - 0.2500 - 0.2800 - 0.2800 - 0.4000 0.4000 - 0.4000 - 0.4200 0.4200 - 0.4200 - 0.4500 -
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 5/9/24 - - - -
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% 13.3% 12.7% 12.3%
ROA (Net income/ Total Assets) 1.26% 0.85% 0.91% 1.25% 1.46% 1.31% 1.29% 1.23%
Assets 1 386,429 421,882 531,801 459,840 480,890 563,037 577,852 615,118
Book Value Per Share 2 10.40 10.80 11.50 11.40 11.80 12.70 13.40 14.20
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
17
Last Close Price
14.27 SGD
Average target price
15.21 SGD
Spread / Average Target
+6.58%
Consensus
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