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Singapore's value-focused supermarket chain known for low prices and store locations in public-housing heartland neighborhoods.
Singapore's value-focused supermarket chain known for low prices and store locations in public-housing heartland neighborhoods.
Makes a thin retail margin on groceries bought in volume and delivered through its own central distribution centre, keeping prices low in neighbourhood stores near public housing estates. The Lim family, who founded the business, remain the controlling shareholders. Almost all of the business is in Singapore.
In one line: Singapore's value-focused supermarket chain, like a local Kroger/Aldi hybrid.
Moat: narrow (scale, distribution, cost advantage). Dense heartland store network and centralized distribution give cost/pricing advantages.
Headquarters: Singapore · Founded: 1985
Size Sheng Siong (OV8.SI) is a Singapore Consumer Staples company (Food Retail) with a market value of $2.77B, the 38th largest of 186 Singapore companies the cockpit tracks. Shares closed at S$2.35 on 6 Nov 2026.
Performance Over six months the shares fell 22.2%, against -1.4% for the median peer and -1.2% for the Singapore market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 10.1% over the last twelve months (peer median +2.3%); the operating margin is 10.4% (peer median 3.1%).
Valuation It trades at 21.6× forward earnings against a peer median of 15.9× (5th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 33.4 points above its cost of capital (5.0% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$1.69B | S$1.57B | S$1.43B | S$1.37B | S$1.34B |
| Revenue growth | — | +10% | +4% | +2% | — |
| Gross profit | S$540M | S$492M | S$435M | S$411M | S$360M |
| EBITDA | S$246M | S$224M | S$195M | S$191M | S$201M |
| Net income | S$159M | S$149M | S$138M | S$134M | S$133M |
| Free cash flow | S$161M | S$225M | S$214M | S$178M | S$162M |
| Capital expenditure | S$27.4M | S$20.9M | S$18.2M | S$10.2M | S$8.79M |
| Total debt | S$161M | S$174M | S$126M | S$101M | S$95.7M |
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 |
|---|---|---|---|---|---|---|
| Sheng Siong OV8.SI | $2.77B | -22% | +10% | 10% | 21.6× | -1.6% |
| DFI Retail D01.SI | $5.06B | -11% | -3% | 4% | 13.2× | -0.4% |
| Pan Pacific Intl Hldgs 7532.T | $15.0B | -15% | +9% | 7% | 19.8× | -2.2% |
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 | OV8.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -23.9% | +5.0% | 2nd lowest of 21 |
| 6-month return | -22.2% | -1.4% | 4th lowest of 21 |
| Distance from 52-week high | -32.1% | -14.5% | 7th lowest of 21 |
| Revenue growth (TTM) | +10.1% | +2.3% | 4th highest of 20 |
| Operating margin | 10.4% | 3.1% | highest of 20 |
| Forward P/E | 21.6× | 15.9× | 5th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | -1.6% | -3.2% | 9th most demanding of 19 |
| Growth delivered (Del g) | +2.4% | +3.0% | 8th lowest of 19 |
| Hurdle (Req g minus delivered) | -4.0 pp | -5.5 pp | 8th most demanding of 19 |
| ROIC minus cost of capital | +33.4 pp | +3.2 pp | highest of 21 |
| EV / EBITDA | 13.5× | 7.1× | most expensive of 12 |
| Net debt / EBITDA | -0.9× | 1.6× | 3rd least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sheng Siong OV8.SI | Singapore | $2.77B | -22% | +10% | 10% | 21.6× | -1.6% | +2.4% |
| Kusuri No Aoki 3549.T | Japan | $2.88B | +26% | +13% | 5% | 21.2× | 4.1% | +13.1% |
| Blue Zones 417A.T | Japan | $2.56B | +11% | +12% | 4% | 15.8× | -4.0% | +9.9% |
| Distribuidora Internacional de Alimentacion DIA.MC | Spain | $3.15B | +25% | +2% | 3% | 32.6× | 4.9% | -3.6% |
| Ocado OCDO.L | United Kingdom | $3.73B | +77% | -42% | 3% | n/a | 39.1% | -9.9% |
| Yonghui Superstores 601933.SS | China | $3.76B | -23% | -16% | -3% | 273.4× | n/a | n/a |
| Shanghai Bailian 600827.SS | China | $1.99B | -5% | -9% | -2% | 15.9× | -3.5% | -6.7% |
| Weis Markets WMK | United States | $1.92B | +10% | +4% | 2% | n/a | 4.3% | +3.8% |
| BGF Retail 282330.KS | South Korea | $1.82B | +9% | +5% | 3% | 10.8× | -18.3% | +7.9% |
| Kobe Bussan 3038.T | Japan | $4.33B | +15% | +6% | 7% | 21.9× | -4.8% | +10.1% |
| Sprouts Farmers Market SFM | United States | $4.53B | -41% | +5% | 7% | 11.3× | -4.0% | +6.4% |
| Yesway YSWY | United States | $1.56B | -4% | n/a | n/a | 21.2× | n/a | n/a |
| Ingles Markets IMKTA | United States | $1.53B | -5% | +1% | 3% | n/a | -1.4% | +3.0% |
| DFI Retail D01.SI | Singapore | $5.06B | -11% | -3% | 4% | 13.2× | -0.4% | -2.9% |
| Life 8194.T | Japan | $1.43B | +1% | +3% | 3% | 12.1× | -11.0% | +3.0% |
| Better Life Commercial Chain Share 002251.SZ | China | $1.34B | -19% | +11% | 5% | 42.1× | 10.8% | -23.1% |
| Grocery Outlet GO | United States | $1.29B | +59% | +5% | 4% | 21.6× | 4.4% | +8.4% |
| Aryzta ARYN.SW | Switzerland | $1.28B | -26% | -3% | 7% | 13.0× | -6.6% | +3.0% |
| Arcs 9948.T | Japan | $1.27B | +5% | +2% | 3% | 15.9× | -10.6% | +2.4% |
| Albertsons Companies ACI | United States | $6.02B | -20% | +2% | 2% | 7.0× | -3.0% | +3.6% |
| Chongqing Chongbai Technology 600729.SS | China | $1.26B | -9% | -11% | 4% | 11.3× | -10.4% | -6.9% |