- We raise our Sheng Siong's target price from 25x FY26F P/E to 28x blended FY26-27F P/E, on strong earnings outlook, margins, ROE, and yield, including its long-term 120 outlet target supported by the new distribution centre.
- - Read this at SGinvestors.io -
1Q26 earnings in line.
- Sheng Siong reported 1Q26 revenue of S$452m (+12% y-o-y) and earnings of S$43m (+12% y-o-y), in line with our estimates.
- - Read this at SGinvestors.io -
- Gross margins improved 0.7ppts to 31% due to an improved sales mix and firm house brand sales. EBIT margin expanded by 0.4ppts to 11.6% on other income and government grants, within our expectations.
- As 1Q26 is tracking to our expectations, we make no changes to our earnings forecasts.
No major supply disruptions for now.
- Read more at SGinvestors.io.
Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.
Alfie Yeo NA RHB Securities Research | https://www.rhbgroup.com/ 2026-05-04
Read also RHB's most recent report:
2026-07-02 Sheng Siong - New Stores To Fuel Growth; Maintain BUY.
Price targets by 5 other brokers at Sheng Siong Target Prices.
Listing of research reports at Sheng Siong Analyst Reports.
Relevant links:
Sheng Siong Share Price History,
Sheng Siong Announcements,
Sheng Siong Dividend Payout Dates & Corporate Actions,
Sheng Siong News
