Assessing Wilmar International’s (SGX:F34) Valuation After Stronger 2025 Sales And Earnings Results

Full year 2025 earnings put Wilmar in focus Wilmar International (SGX:F34) has drawn fresh attention after reporting full year 2025 results, with sales of US$70.4b and net income of US$1.41b, compared with US$67.4b and US$1.17b a year earlier. See our latest analysis for Wilmar International. The latest full year figures appear to have caught the market’s eye, with a 1 day share price return of 4.25% lifting Wilmar International to SGD3.68 and adding to a 90 day share price return of 21.05%. However, the 5 year total shareholder return of a 13.56% decline shows that longer term momentum has been weaker. If this earnings release has you looking beyond a single agribusiness name, it could be a good moment to broaden your search and check out 103 top founder-led companies as potential next ideas. With earnings moving higher, a strong recent share price run and a 53% intrinsic discount estimate, the key question is whether Wilmar is still undervalued or if the market is already pricing in future growth. Price-to-Earnings of 12.8x: Is it justified? On a P/E of 12.8x and a last close of SGD3.68, Wilmar International screens as cheaper than the wider Asian Food industry but richer than its closer peer set and slightly above its own estimated fair ratio. The P/E ratio compares the current share price with earnings per share, so it gives a quick read on how much the market is paying for each dollar of profit. For a diversified agribusiness like Wilmar, this matters because earnings can swing with commodity cycles, margins and capital intensity. As a result, the earnings multiple is often a key anchor for how investors frame the story. Relative signals here are mixed. Wilmar is described as good value versus the broader Asian Food industry average P/E of 15.6x, which suggests the wider sector trades on a richer earnings multiple. At the same time, it is labelled expensive versus a peer average P/E of 9.8x and also expensive compared with an estimated fair P/E of 12x, a level the market could move towards if sentiment cools or earnings expectations change. Taken together, the current 12.8x multiple sits between a cheaper peer basket and a more expensive regional sector, with the fair ratio pointing to only a modest cushion on the upside from here. Explore the SWS fair ratio for Wilmar International Result: Price-to-Earnings of 12.8x (OVERVALUED) However, there are clear risks, including its 5 year total shareholder return of a 13.56% decline, as well as exposure to commodity driven earnings that can affect sentiment quickly. Find out about the key risks to this Wilmar International narrative. Another view: DCF points the other way While the 12.8x P/E suggests Wilmar International is a touch expensive versus its own fair ratio of 12x, our DCF model tells a different story. On that approach, the shares at SGD3.68 sit well below an estimated fair value of SGD7.85, implying a 53.1% discount. Which signal do you trust more? Look into how the SWS DCF model arrives at its fair value. F34 Discounted Cash Flow as at Mar 2026Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Wilmar International for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 226 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. Next Steps Mixed messages on value and risks so far? Take a moment to review the numbers yourself and form your own view, starting with 3 key rewards and 2 important warning signs. Looking for more investment ideas? If Wilmar has sparked your interest, do not stop here. Use the Simply Wall St screener to quickly surface other stocks that might fit your approach. Spot potential value opportunities early by scanning our list of 226 high quality undervalued stocks that pass a range of fundamental checks. Prioritise financial strength by reviewing companies in the solid balance sheet and fundamentals stocks screener (372 results) that keep leverage and liquidity firmly in check. Hunt for off the radar potential by checking the screener containing 578 high quality undiscovered gems that many investors may not be watching yet. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.Valuation is complex, but we're here to simplify it.Discover if Wilmar International might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.Access Free Analysis