1. Malaysia Stocks

  2. •

    Consumer Defensive

  3. •

    Beverages - Non-Alcoholic
Fraser & Neave Holdings Bhd

Fraser & Neave Holdings Bhd

3689.KL
Fraser & Neave Holdings BhdMY flagMalaysian Stock Exchange
26.92
MYR
-0.74
- -
9.86BMarket Cap
Fraser & Neave Holdings Bhd
3689.KL
(Malaysian Stock Exchange)

Recent

price

26.92

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
10.21
10.92
8.79
9.65
10.45
11.22
11.38
11.2
10.54
11.12
10.88
11.26
12.19
13.65
14.32
14.19
13.67
Revenue per Share
1.95
1.07
0.76
0.71
0.71
0.76
1.05
0.88
1.05
1.12
1.12
1.08
1.05
1.47
1.48
1.39
1.11
Basic EPS, GAAP
0.95
0.31
-0.32
1.02
0.81
0.72
0.92
0.18
1
1.2
0.36
1.28
-0.25
2.58
1.24
-0.22
0.44
Free Cash Flow per Basic Share
0.45
1.83
0.82
0.58
0.62
0.55
0.63
0.58
0.57
0.58
0.6
0.6
0.6
0.6
0.8
0.63
0.3
Dividend per Share
1
1.01
1.01
1
1
1
4.02
5.54
6
6.53
2.23
7.53
7.99
8.87
9.55
10.3
10.51
Book Value per Share
4.69
4
3.93
4.16
4.25
4.77
5.09
5.47
5.95
6.57
7.21
7.45
7.89
7.96
8.62
9.44
9.54
Tangible Book Value per Share
356
358
361
364
365
366
366
366
367
367
367
367
367
366
366
366
366
Basic Weighted Avg Shares
3,638
3,915
3,172
3,508
3,819
4,108
4,168
4,101
3,871
4,077
3,989
4,131
4,470
5,001
5,246
5,197
5,009
Sales/Revenue/Turnover
10.7
11.7
5.18
7.56
8.14
8.14
9.96
9.61
10.86
12.64
12.58
11.46
10.07
12.88
13.56
14.37
12.85
Operating Margin (%)
113
81
94
88
88
93
97
92
91
102
133
136
126
146
145
151
162
Depreciation Expense
694
383
274
259
259
280
385
323
387
410
410
395
383
537
543
508
408
Net Income, GAAP
21.08
17.37
- -
15.7
17.77
16.1
13
8.58
8.87
23.03
21.57
17.58
15.81
13.23
21.91
29.57
33.91
Effective Tax Rate (%)
19.08
9.79
8.64
7.4
6.79
6.82
9.25
7.88
9.99
10.06
10.29
9.57
8.57
10.74
10.35
9.78
8.14
Profit Margin (%)
1,053
500
115
373
572
744
901
753
794
961
1,020
1,109
1,396
1,659
1,623
1,098
951
Working Capital
150
150
- -
150
300
300
375
182
115
96
11
54
263
755
639
392
385
LT Debt
1,797
1,559
1,554
1,649
1,689
1,877
1,989
2,124
2,306
2,529
2,690
2,819
2,984
3,352
3,587
3,879
3,915
Total Equity
14.92
19.76
- -
11.08
12.44
13.23
15.75
14.65
14.83
14.84
14.21
13.56
12.18
15
13.02
11.72
9.21
Return on Invested Capital (%)
82.46
67.21
- -
35.15
36.96
42.43
31.27
15.75
16.2
16.35
23.98
21.16
12.81
15.48
13.72
12.09
9.46
Return on Capital (%)
194.47
106.77
75.76
71.32
71.01
76.45
41.91
18.48
18.27
17.84
25.55
22.08
13.46
17.38
16.09
13.99
10.82
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'26
Mar'26
ST Debt
264
174
263
LT Borrowings
338
337
336
LT Finance Leases
54
54
49
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
366
366
366
Market Capitalization
9,978
13,004
10,989

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'26
Mar'26
Total Current Assets
2,271
2,341
2,262
Cash, Cash Equivalents & STI
626
626
606
Accounts Receivable, Net
596
931
888
Inventories
744
784
767
Total Current Liabilities
1,173
1,289
1,311
Payables & Accruals
- -
- -
- -
ST Debt
264
174
263
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.55%
7.62%
8.15%
Free Cash Flow
-78.36%
-230.31%
-117.92%
Net Income, GAAP
7.53%
5.63%
-6.32%
Sales/Revenue/Turnover
2.5%
5.52%
-0.93%
Total Cash Common Dividend
- -
- -
-21.25%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,333
1,352
1,304
1,256
5,246
2025
1,390
1,334
1,246
1,227
5,197
2026
1,303
1,232
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.47
0.45
0.33
0.23
1.48
2025
0.46
0.38
0.23
0.31
1.39
2026
0.31
0.26
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.3
- -
0.8
2025
- -
- -
0.3
- -
0.63
2026
- -
- -
- -
- -
- -
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Business
Fraser & Neave Holdings Bhd Fraser & Neave Holdings Bhd engages in the manufacture, sale, and marketing of a diverse portfolio of Halal-certified beverages, dairy, and food products across Malaysia, Thailand, Brunei, and Indochina. The company offers core products including isotonic drinks such as 100PLUS; carbonated soft drinks like F&N Fun Flavours, F&N Seasons, EST Cola, OYOSHI, and Rangers; natural mineral waters under brands including Borneo Springs, F&N Ice Mountain; dairy products encompassing sweetened condensed milk, evaporated milk, sterilized milk, fresh milk, and juice under F&N, Teapot, Gold Coin, Cap Junjung, Ideal, Carnation, F&N Magnolia, and Farmhouse; as well as packaged foods such as ketupat, oyster sauce, cooking sauces under NONA, confectionery, and snacks including LOT 100 through subsidiaries Sri Nona Foods Sdn Bhd and Cocoaland Holdings Berhad. Fraser & Neave Holdings Bhd operates 13 state-of-the-art manufacturing facilities in Malaysia and Thailand, exports to 93 countries with a focus on Halal markets, and maintains a strong distribution network serving retail, commercial, and institutional customers. Founded in 1961 and headquartered at F&N Point, No. 3 Jalan Metro Pudu 1, Fraser Business Park, Kuala Lumpur, Malaysia, the company functions as a subsidiary of Fraser and Neave, Limited, a Singapore-listed conglomerate, and emphasizes sustainable practices through ISO-certified green plants incorporating solar photovoltaic systems and water conservation technologies. In recent developments, Fraser & Neave Holdings Bhd completed the acquisition of Cocoaland Holdings Berhad for RM488.15 million in 2022 to bolster its confectionery and snack segments, acquired Sri Nona food companies including Sri Nona Food Industries, Sri Nona Industries, and Lee Shun Hing Sauce for up to RM60 million in 2020 to establish Halal foods as a growth pillar, purchased Ladang Permai Damai to enter upstream fresh milk production, opened a liquid milk and plant-based beverage plant in Wang Muang, Thailand, and initiated an integrated dairy farm in Gemas, Negeri Sembilan; more recently in 2025, it divests its 50% stake in PJ Land for RM180 million while retaining interest in Vacaron Company Sdn Bhd with a new joint-venture partner, and underwent substantial shareholding restructuring with Wallapa Traisorat acquiring a 55.475% voting stake as part of internal group maneuvers involving key stakeholders.