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Employees: 1,439
Size Boustead Singapore (F9D.SI) is a Singapore Industrials company (Engineering & Construction) with a market value of $662M, the 93rd largest of 186 Singapore companies the cockpit tracks. Shares closed at S$1.62 on 6 Nov 2026.
Performance Over six months the shares fell 35.2%, against -15.7% for the median peer and -1.2% for the Singapore market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 18.5% over the last twelve months (peer median +6.3%); the operating margin is 12.1% (peer median 8.8%).
Valuation It trades at 9.3× forward earnings against a peer median of 12.9× (3rd cheapest of 12).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is -2%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$624M | S$624M | S$527M | S$768M | S$562M |
| Revenue growth | — | +18% | -31% | +37% | — |
| Gross profit | S$216M | S$215M | S$233M | S$224M | S$157M |
| EBITDA | S$85.0M | S$85.1M | S$108M | S$102M | S$56.8M |
| Net income | S$233M | S$233M | S$95.0M | S$64.2M | S$45.3M |
| Free cash flow | S$19.7M | S$19.7M | S$90.6M | S$110M | S$93.6M |
| Capital expenditure | S$7.06M | S$7.06M | S$8.91M | S$5.07M | S$2.91M |
| Total debt | n/a | S$83.2M | S$50.8M | S$38.6M | S$50.6M |
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.
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 | F9D.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.0% | -5.4% | 9th lowest of 21 |
| 6-month return | -35.2% | -15.7% | 4th lowest of 21 |
| Distance from 52-week high | -38.6% | -32.3% | 6th lowest of 21 |
| Revenue growth (TTM) | +18.5% | +6.3% | 7th highest of 21 |
| Operating margin | 12.1% | 8.8% | 8th highest of 21 |
| Forward P/E | 9.3× | 12.9× | 3rd cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | -11.4% | 3.5% | 2nd least demanding of 15 |
| Growth delivered (Del g) | -1.9% | +3.4% | 3rd lowest of 15 |
| Hurdle (Req g minus delivered) | -9.5 pp | -1.0 pp | 7th least demanding of 15 |
| ROIC minus cost of capital | +6.3 pp | +0.8 pp | 6th highest of 21 |
| EV / EBITDA | 6.9× | 8.4× | 6th cheapest of 13 |
| Net debt / EBITDA | -3.4× | 0.6× | least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Boustead Singapore F9D.SI | Singapore | $662M | -35% | +18% | 12% | 9.3× | -11.4% | -1.9% |
| Kingfore Energy 001210.SZ | China | $662M | +32% | +15% | 12% | n/a | 13.4% | +9.6% |
| Shenzhen Grandland 002482.SZ | China | $658M | -32% | +46% | -4% | n/a | 24.9% | -33.5% |
| PS Construction 1871.T | Japan | $656M | -17% | +6% | 9% | n/a | n/a | n/a |
| Yokogawa Bridge 5911.T | Japan | $679M | -6% | +4% | 8% | 12.9× | -12.8% | +1.1% |
| Cloudberry Clean Energy CLOUD.OL | Norway | $645M | +2% | +79% | 14% | 14.4× | 41.7% | +168.9% |
| Techno Ryowa 1965.T | Japan | $644M | +12% | +14% | 16% | n/a | -11.0% | +12.5% |
| Mistras MG | United States | $642M | +14% | +5% | 7% | 16.4× | 7.6% | +4.1% |
| Yondenko 1939.T | Japan | $685M | +10% | +7% | 11% | n/a | 1.1% | +2.1% |
| Dilip Buildcon DBL.NS | India | $688M | -17% | -19% | 16% | 25.7× | n/a | n/a |
| Cardinal Infrastructure CDNL | United States | $691M | -73% | +90% | 8% | 6.8× | n/a | n/a |
| Da-Cin Construction 2535.TW | Taiwan | $693M | +23% | +36% | 8% | n/a | -10.6% | +7.9% |
| Cecep Guozhen Environmental Protection Technology 300388.SZ | China | $632M | -22% | +5% | 18% | 11.8× | -2.0% | -1.0% |
| Zhejiang Yasha Decoration 002375.SZ | China | $695M | -16% | -25% | 6% | n/a | -0.2% | -3.3% |
| COFCO Technology & Industry 301058.SZ | China | $630M | -17% | +3% | 8% | 17.2× | -3.5% | +8.4% |
| Transrail Lighting TRANSRAILL.NS | India | $628M | -25% | +14% | 11% | 10.5× | 5.9% | +25.9% |
| Limbach LMB | United States | $627M | -36% | +21% | 6% | 11.7× | 12.6% | +2.6% |
| Chong Hong Development 5534.TW | Taiwan | $625M | -16% | -18% | 24% | 2.8× | n/a | n/a |
| United Testing Inspection And Certification Technology 301115.SZ | China | $702M | +22% | +5% | -1% | 135.5× | n/a | n/a |
| Anhui Orivie Technology 300692.SZ | China | $702M | -7% | -6% | 21% | n/a | 10.9% | +0.1% |
| Shanghai CDXJ Digital Technology 603887.SS | China | $705M | -49% | +79% | 3% | n/a | n/a | n/a |