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Keppel Corporation Limited

Keppel Corporation Limited

BN4.SI
Keppel Corporation LimitedSG flagStock Exchange of Singapore
10.65
SGD
+0.06
- -
19.19BMarket Cap
Keppel Corporation Limited
BN4.SI
(Stock Exchange of Singapore)

Recent

price

10.65

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
5.2
5.67
7.79
6.86
7.32
5.67
3.73
3.28
3.29
4.17
3.62
3.72
3.72
3.82
3.22
3.3
4.1
Revenue per Share
0.86
1.09
1.25
1.02
1.04
0.84
0.43
0.11
0.52
0.39
-0.28
0.58
0.53
2.24
0.53
0.44
-0.1
Basic EPS, GAAP
-0.24
-0.62
0.1
-0.17
-0.33
-1.07
-0.09
0.47
-0.07
-0.74
-0.16
-0.54
-0.25
-0.47
-0.23
0.08
-0.42
Free Cash Flow per Basic Share
0.36
0.41
0.44
0.37
0.42
0.48
0.3
0.2
0.29
0.23
0.15
0.19
0.36
0.32
0.34
0.34
0.2
Dividend per Share
3.54
3.97
4.99
5.27
5.9
6.43
6.58
0.71
0.71
0.71
0.72
0.73
0.73
0.72
0.73
0.72
0.72
Book Value per Share
5.43
6.56
7.51
7.54
8.06
6.52
6.72
6.38
6.31
5.49
5.25
6.11
5.82
5.21
5.52
5.94
5.04
Tangible Book Value per Share
1,759
1,779
1,793
1,805
1,815
1,815
1,815
1,817
1,814
1,816
1,818
1,778
1,778
1,822
1,797
1,813
1,818
Basic Weighted Avg Shares
9,140
10,082
13,965
12,380
13,283
10,296
6,767
5,964
5,965
7,580
6,574
6,611
6,620
6,966
5,784
5,983
7,447
Sales/Revenue/Turnover
17.03
28.01
18.77
17.24
17.87
14.7
11.75
15.61
19.36
12.54
0.14
17.08
8.54
17.04
19.81
18.76
12.76
Operating Margin (%)
189
209
211
242
265
220
236
212
182
375
414
406
242
221
208
244
407
Depreciation Expense
1,511
1,946
2,237
1,846
1,885
1,525
784
196
948
707
-506
1,026
938
4,078
952
800
-186
Net Income, GAAP
21.96
13.39
15.37
14.22
16.01
20.25
22.1
55.29
22.86
20.17
- -
23.29
22.39
23.87
22.12
23.21
253.65
Effective Tax Rate (%)
16.53
19.3
16.02
14.91
14.19
14.81
11.58
3.29
15.9
9.33
-7.69
15.52
14.17
58.54
16.45
13.37
-2.5
Profit Margin (%)
3,894
3,632
5,605
8,740
10,362
7,727
7,122
5,450
5,474
2,352
2,302
3,011
3,489
227
1,848
1,984
1,001
Working Capital
3,676
4,069
6,202
6,583
5,587
7,402
7,218
6,079
6,068
7,034
8,101
7,268
6,766
8,680
10,646
9,517
7,750
LT Debt
9,655
11,761
13,578
13,689
14,728
11,926
12,345
11,722
11,577
11,646
11,156
12,441
11,913
11,017
11,426
11,186
10,813
Total Equity
9.71
15.67
11.49
8.56
9.1
5.6
2.93
2.01
4.6
3.57
- -
3.56
1.86
4.01
3.85
3.7
-6.16
Return on Invested Capital (%)
10.5
7.51
11.4
8.61
8.41
8.34
4.43
1.79
11.87
8.28
- -
8.62
8.46
35.65
9.62
9.05
-4.99
Return on Capital (%)
25.71
29.28
27.96
20.01
18.65
13.63
6.64
2.96
73.43
54.73
-38.95
78.58
71.86
312.35
72.89
61.28
-14.36
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'19
Mar'20
Jun'20
ST Debt
4,623
5,474
5,493
LT Borrowings
6,504
6,508
7,257
LT Finance Leases
530
519
493
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,816
1,821
1,821
Market Capitalization
7,808
6,105
6,872

Working Capital

FRC

•

in mil. unless spec.
Dec'19
Mar'20
Jun'20
Total Current Assets
14,298
14,898
13,635
Cash, Cash Equivalents & STI
1,726
2,385
2,546
Accounts Receivable, Net
1,686
2,860
2,771
Inventories
5,543
5,495
5,048
Total Current Liabilities
11,947
13,028
12,634
Payables & Accruals
- -
- -
- -
ST Debt
4,623
5,474
5,493
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-0.5%
0.27%
-2.1%
Free Cash Flow
14.96%
18.68%
-135.92%
Net Income, GAAP
-0.61%
-13.86%
-15.93%
Sales/Revenue/Turnover
-3.99%
-1.52%
3.44%
Total Cash Common Dividend
2.78%
21.82%
1.46%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
6,966
2024
- -
- -
- -
- -
5,784
2025
- -
- -
- -
- -
5,983

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
2.24
2024
- -
- -
- -
- -
0.53
2025
- -
- -
- -
- -
0.44

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.32
2024
- -
- -
- -
- -
0.34
2025
- -
- -
- -
- -
0.34
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Business
Keppel Ltd (BN4.SI), formerly Keppel Corporation, serves as a global asset manager and operator headquartered in Keppel Bay Tower, Singapore, and founded in 1968, with operations spanning more than 20 countries across infrastructure, real estate, connectivity, and fund management and investment platforms. The company offers infrastructure solutions including energy infrastructure such as power plants, waste-to-energy facilities, renewable energy projects, district heating and cooling systems via Keppel DHCS Pte Ltd, and electricity supply through Keppel Electric Pte Ltd; real estate development and investment encompassing residential, commercial, mixed-use properties, integrated townships, senior living facilities, and sustainable projects like Saigon Centre in Vietnam and Tianjin Eco-City joint ventures in China under Keppel Land; connectivity services featuring data centres through Keppel Data Centres Pte Ltd, telecommunications and logistics via Keppel Telecommunications & Transportation Ltd, and mobile/fixed services from M1 Limited; as well as fund management through Keppel Capital Holdings Pte Ltd, including managers for Keppel REIT and Keppel Infrastructure Trust. Keppel targets industrial, commercial, municipal, and institutional customers in sectors addressing climate change, energy transition, urbanisation, and digitalisation. Recent developments include the 2024 renaming to Keppel Ltd following restructuring into an asset-light model; full acquisition of the remaining 49% stake in Cleantech Renewable Assets Pte Ltd from Shell Singapore in 2025, boosting its solar portfolio to 1.1GW with plans for another 1GW by 2026 and expansion into wind energy; a partnership with AIIB in June 2025 to mobilize up to USD1.5 billion for sustainable infrastructure in Asia-Pacific focusing on green energy, digital infrastructure, and connectivity; divestment of Dyna-Mac in 2024 and ongoing monetization of non-core assets like legacy offshore and marine holdings; formation of joint ventures for an 80MW data centre in Taiwan and cooling services expansion in Thailand; and acquisition of a Chennai office complex for USD352.9 million alongside strong 9M 2025 earnings growth exceeding 25% year-on-year from its core businesses.