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Global agri-commodity trading and food-ingredients company sourcing and processing cocoa, coffee, nuts, cotton and grains.
Global agri-commodity trading and food-ingredients company sourcing and processing cocoa, coffee, nuts, cotton and grains.
Earns margins on buying crops from farmers and trading and processing them. The food-ingredients unit, ofi, processes cocoa, coffee and nuts, while Olam Agri handles grains and cotton; a Saudi state-backed agricultural investor, SALIC, took a stake in Olam Agri in 2022. Temasek, Singapore's state investor, is the largest shareholder.
In one line: A global agri-commodity trading and food-ingredients company (Singapore's Cargill-lite).
Moat: narrow (scale, distribution, process know-how). Global sourcing/processing network across origin countries with scale in niche agri commodities.
Headquarters: Singapore · Founded: 1989 · Employees: 78,390
Size Olam (VC2.SI) is a Singapore Consumer Staples company (Food: Major Diversified) with a market value of $2.55B, the 41st largest of 186 Singapore companies the cockpit tracks. Shares closed at S$0.86 on 6 Nov 2026.
Performance Over six months the shares fell 29.1%, against +0.5% for the median peer and -1.2% for the Singapore market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 39.8% over the last twelve months (peer median +6.0%); the operating margin is 2.3% (peer median 10.3%).
Valuation It trades at 17.6× forward earnings against a peer median of 16.3× (8th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is -4%, so the hurdle is +0 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.0 points below its cost of capital (5.0% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$26.8B | S$29.6B | S$23.0B | S$48.3B | S$54.9B |
| Revenue growth | — | +29% | -52% | -12% | — |
| Gross profit | S$2.33B | S$6.02B | S$4.79B | S$3.06B | S$4.86B |
| EBITDA | S$1.20B | S$4.86B | S$3.67B | S$1.62B | S$3.53B |
| Net income | S$2.03B | S$412M | S$53.8M | S$279M | S$629M |
| Free cash flow | S$2.19B | S$349M | -S$6.00B | -S$992M | S$198M |
| Capital expenditure | S$701M | S$731M | S$693M | S$697M | S$811M |
| Total debt | n/a | S$16.0B | S$23.7B | S$16.9B | S$16.7B |
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 |
|---|---|---|---|---|---|---|
| Olam VC2.SI | $2.55B | -29% | -40% | 2% | 17.6× | -3.7% |
| Bunge Global BG | $19.0B | -20% | +55% | 4% | 9.2× | n/a |
| Archer Daniels Midland ADM | $33.3B | -9% | +1% | 3% | 12.0× | 8.0% |
| Wilmar International F34.SI | $14.5B | -19% | +6% | 3% | 10.2× | n/a |
| Barry Callebaut BARN.SW | $8.33B | +5% | +9% | 5% | 23.7× | -8.4% |
| Fuji Oil 2607.T | $2.46B | +36% | +10% | 5% | 15.2× | 0.9% |
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 | VC2.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.5% | +2.1% | 5th lowest of 21 |
| 6-month return | -29.1% | +0.5% | 3rd lowest of 21 |
| Distance from 52-week high | -40.8% | -24.2% | 5th lowest of 21 |
| Revenue growth (TTM) | -39.8% | +6.0% | lowest of 21 |
| Operating margin | 2.3% | 10.3% | 2nd lowest of 21 |
| Forward P/E | 17.6× | 16.3× | 8th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | -3.7% | 0.6% | 8th least demanding of 18 |
| Growth delivered (Del g) | -3.7% | +3.9% | 2nd lowest of 18 |
| Hurdle (Req g minus delivered) | +0.1 pp | -4.3 pp | 9th most demanding of 18 |
| ROIC minus cost of capital | -2.0 pp | +3.8 pp | 4th lowest of 21 |
| Net debt / EBITDA | 7.9× | -0.1× | most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Olam VC2.SI | Singapore | $2.55B | -29% | -40% | 2% | 17.6× | -3.7% | -3.7% |
| Chagee Holdings Limited Unsponsored ADR CHA | United States | $2.44B | +19% | 0% | 11% | 7.9× | -4.1% | +190.8% |
| ITO EN,Ltd 2593.T | Japan | $2.12B | +14% | +5% | 5% | 26.0× | n/a | n/a |
| Dongsuh 026960.KS | South Korea | $2.06B | +6% | +6% | 8% | n/a | 16.2% | +1.6% |
| Yihai International 1579.HK | Hong Kong | $2.02B | +3% | +11% | 18% | 14.2× | 6.8% | +3.6% |
| Yankershop Food 002847.SZ | China | $1.64B | -30% | 0% | 14% | 14.6× | 2.9% | +24.1% |
| Kewpie 2809.T | Japan | $4.07B | +11% | +4% | 7% | 24.2× | 0.6% | -0.7% |
| Herbalife HLF | United States | $1.60B | +7% | +6% | 9% | 5.4× | -14.8% | -1.9% |
| Zydus Wellness ZYDUSWELL.NS | India | $1.58B | -7% | +74% | 9% | 41.0× | 32.3% | +16.2% |
| Cheng De Lolo 000848.SZ | China | $1.18B | -11% | +5% | 24% | 12.6× | -10.8% | +11.3% |
| S&B Foods 2805.T | Japan | $1.16B | +53% | +7% | 9% | 16.8× | -1.8% | +2.5% |
| Jiangsu Hengshun Vinegar-Industry 600305.SS | China | $1.15B | -7% | +6% | 6% | 49.9× | 17.3% | +2.6% |
| Shanghai Ziyan Foods 603057.SS | China | $1.09B | -37% | +7% | 6% | 39.1× | n/a | n/a |
| Hebei Yangyuan Zhihui Beverage 603156.SS | China | $6.06B | -15% | +12% | 28% | 26.5× | 9.9% | +3.9% |
| Simply Good Foods SMPL | United States | $1.05B | -2% | -7% | 13% | 7.9× | -12.3% | +6.2% |
| CSPC Innovation Pharmaceutical 300765.SZ | China | $6.48B | +14% | +117% | 26% | 40.6× | 13.9% | +10.5% |
| SamyangFood 003230.KS | South Korea | $6.70B | -9% | +38% | 23% | 16.3× | -6.6% | +29.4% |
| Bombay Burmah Trading BBTC.NS | India | $947M | -18% | +7% | 16% | n/a | -8.8% | +8.2% |
| AGT Food and Ingredients AGTF.TO | Canada | $922M | +12% | -19% | -2% | 16.0× | n/a | n/a |
| Conagra Brands CAG | United States | $7.28B | +8% | -2% | 11% | 10.6× | -4.9% | +0.2% |
| Hongmian Zhihui Science and Technology Innovation Co., Ltd. Guangzhou 000523.SZ | China | $798M | -16% | +4% | 2% | n/a | 12.1% | -8.5% |