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Singapore instant-coffee and beverage manufacturer with strong brands like MacCoffee in Russia/CIS and Southeast Asia.
Singapore instant-coffee and beverage manufacturer with strong brands like MacCoffee in Russia/CIS and Southeast Asia.
Sells branded instant-coffee mixes, creamer and snacks through distributors and retailers and makes most of its product in its own factories across several countries, including Russia, Malaysia, India and Vietnam. Coffee-bean prices are the biggest swing in cost, and Russia-linked markets are still a large part of sales.
In one line: A Singapore instant-coffee and beverage maker with strong emerging-market brands (MacCoffe.
Moat: narrow (brand, distribution). Strong brand recognition and distribution network in the Russia/CIS instant coffee market, built over decades.
Headquarters: Singapore · Founded: 1994 · Employees: 4,693
Size Food Empire (F03.SI) is a Singapore Consumer Staples company (Food: Specialty/Candy) with a market value of $952M, the 71st largest of 186 Singapore companies the cockpit tracks. Shares closed at S$1.86 on 6 Nov 2026.
Performance Over six months the shares fell 22.5%, against -3.9% for the median peer and -1.2% for the Singapore market (cap-weighted) — 3rd lowest of 20 in its peer set.
Growth Revenue grew 14.0% over the last twelve months (peer median +4.3%); the operating margin is 15.8% (peer median 5.5%).
Valuation It trades at 12.7× forward earnings against a peer median of 17.4× (4th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 19.4 points above its cost of capital (5.1% WACC).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$793M | S$754M | S$637M | S$572M | S$549M |
| Revenue growth | — | +18% | +11% | +4% | — |
| Gross profit | S$266M | S$253M | S$193M | S$190M | S$164M |
| EBITDA | S$143M | S$138M | S$100M | S$110M | S$87.2M |
| Net income | S$93.5M | S$47.0M | S$70.2M | S$75.9M | S$82.9M |
| Free cash flow | S$48.9M | S$82.5M | S$1.35M | S$51.0M | S$79.7M |
| Capital expenditure | S$51.4M | S$29.0M | S$32.6M | S$16.8M | S$19.0M |
| Total debt | n/a | S$121M | S$113M | S$54.2M | S$59.8M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Food Empire F03.SI | $952M | -22% | +14% | 16% | 12.7× | -9.9% |
| Nestle NESN.SW | $266B | +11% | -2% | 16% | 19.0× | 1.3% |
| Super Group (SGHC) SGHC | $5.77B | -13% | +14% | 23% | 11.7× | -0.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | F03.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | 0.0% | +0.9% | 9th lowest of 21 |
| 6-month return | -22.5% | -3.9% | 3rd lowest of 20 |
| Distance from 52-week high | -34.9% | -24.0% | 3rd lowest of 21 |
| Revenue growth (TTM) | +14.0% | +4.3% | 4th highest of 21 |
| Operating margin | 15.8% | 5.5% | 3rd highest of 21 |
| Forward P/E | 12.7× | 17.4× | 4th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -9.9% | -1.0% | 4th least demanding of 14 |
| Growth delivered (Del g) | +14.9% | +7.2% | 3rd highest of 14 |
| Hurdle (Req g minus delivered) | -24.8 pp | -12.8 pp | 2nd least demanding of 14 |
| ROIC minus cost of capital | +19.4 pp | +0.5 pp | highest of 21 |
| EV / EBITDA | 8.2× | 6.5× | 3rd most expensive of 9 |
| Net debt / EBITDA | -0.4× | -0.3× | 7th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Food Empire F03.SI | Singapore | $952M | -22% | +14% | 16% | 12.7× | -9.9% | +14.9% |
| Guilin Seamild Foods 002956.SZ | China | $947M | -14% | +21% | 11% | 23.3× | 9.0% | +17.0% |
| Chenguang Biotech 300138.SZ | China | $946M | +13% | -4% | 6% | 16.1× | -1.0% | +10.9% |
| Jiajia Food 002650.SZ | China | $983M | -25% | -3% | -11% | n/a | 1.2% | -10.0% |
| Namchow Food Group (Shanghai) 605339.SS | China | $1.01B | -2% | -5% | -1% | n/a | n/a | n/a |
| Seneca Foods SENEA | United States | $1.03B | +9% | +12% | 9% | 10.9× | -15.1% | +2.5% |
| Otoki 007310.KS | South Korea | $879M | -13% | +4% | 5% | 9.4× | -6.5% | +7.2% |
| Westrock Coffee WEST | United States | $878M | +9% | +39% | 0% | n/a | n/a | n/a |
| ARIAKE JAPAN 2815.T | Japan | $1.04B | -5% | +3% | 17% | 17.4× | -7.4% | +6.1% |
| Wellhope Foods 603609.SS | China | $870M | -8% | +7% | 0% | 53.8× | 54.2% | +8.5% |
| ORION 001800.KS | South Korea | $1.06B | -4% | +15% | 15% | n/a | -16.5% | +8.3% |
| Star Lake Bioscience 600866.SS | China | $1.07B | -26% | -3% | 0% | 37.2× | n/a | n/a |
| T. Hasegawa 4958.T | Japan | $847M | +12% | +7% | 12% | 17.1× | -4.8% | +7.9% |
| JinJian Cereals Industry 600127.SS | China | $1.08B | +64% | +1% | -1% | n/a | n/a | n/a |
| Nissin Foods 1475.HK | Hong Kong | $834M | -14% | +1% | 13% | 19.0× | -13.0% | +2.6% |
| Jiangxi Qiyunshan Food 2797.HK | Hong Kong | $1.10B | n/a | -7% | 17% | n/a | n/a | n/a |
| Orkla India ORKLAINDIA.NS | India | $826M | -12% | +6% | 14% | 22.8× | 13.4% | +5.3% |
| Jinzai Food 003000.SZ | China | $810M | -17% | +14% | 8% | 17.7× | n/a | n/a |
| Takasago International 4914.T | Japan | $809M | +9% | +1% | 3% | 13.3× | n/a | n/a |
| Yan Tai Shuang Ta Food 002481.SZ | China | $803M | -4% | +5% | 2% | n/a | 17.7% | +1.2% |
| Lotte Wellfood 280360.KS | South Korea | $796M | +2% | +7% | 4% | 8.8× | 0.4% | +15.2% |