SBS Transit Ltd
SGX:S61

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SBS Transit Ltd
SGX:S61
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Price: 3.69 SGD -10.65% Market Closed
Market Cap: S$1.2B

P/FCFE

12.7
Current
7%
Cheaper
vs 3-y average of 13.6

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
12.7
=
Market Cap
S$1.3B
/
Free Cash Flow to Equity
S$91.1m

Price to Free Cash Flow to Equity (P/FCFE) ratio compares a company`s market value to the free cash flow available to its shareholders. It`s similar to the P/OCF ratio but more precise, since it accounts for capital expenditures deducted from operating cash flow.

P/FCFE
12.7
=
Market Cap
S$1.3B
/
Free Cash Flow to Equity
S$91.1m

Valuation Scenarios

SBS Transit Ltd is trading below its 3-year average

If P/FCFE returns to its 3-Year Average (13.6), the stock would be worth S$3.96 (7% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-50%
Maximum Upside
+24%
Average Downside
8%
Scenario P/FCFE Value Implied Price Upside/Downside
Current Multiple 12.7 S$3.69
0%
3-Year Average 13.6 S$3.96
+7%
5-Year Average 11.2 S$3.27
-11%
Industry Average 6.3 S$1.85
-50%
Country Average 15.6 S$4.56
+24%

Forward P/FCFE
Today’s price vs future free cash flow to equity

Not enough data available to calculate forward P/FCFE

Peer Comparison

All Multiples
P/FCFE
P/E
All Countries
Close
Market Cap P/FCFE P/E
SG
SBS Transit Ltd
SGX:S61
1.2B SGD 12.7 18.8
US
Uber Technologies Inc
NYSE:UBER
156.1B USD 14.7 15.5
US
Old Dominion Freight Line Inc
NASDAQ:ODFL
42.9B USD 46.1 41.9
US
XPO Logistics Inc
NYSE:XPO
25.2B USD -42 698.4 79.7
US
J B Hunt Transport Services Inc
NASDAQ:JBHT
23.5B USD 26.5 37.7
CN
DiDi Global Inc
OTC:DIDIY
17.5B USD 15.9 120.1
SG
Grab Holdings Ltd
NASDAQ:GRAB
15B USD 11.4 56.1
US
Saia Inc
NASDAQ:SAIA
11.8B USD -561.9 46.1
CA
TFI International Inc
TSX:TFII
16B CAD 20.6 37.8
US
Knight-Swift Transportation Holdings Inc
NYSE:KNX
10.4B USD -32.6 305.8
US
U-Haul Holding Co
NYSE:UHAL
10.1B USD -21.2 78.7

Market Distribution

In line with most companies in Singapore
Percentile
39th
Based on 379 companies
39th percentile
12.7
Low
0.2 — 10
Typical Range
10 — 28.3
High
28.3 —
Distribution Statistics
Singapore
Min 0.2
30th Percentile 10
Median 15.6
70th Percentile 28.3
Max 572

SBS Transit Ltd
Glance View

SBS Transit Ltd. engages in the provision of public transport services, namely bus and rail services. The company employs 10,024 full-time employees The firm operates approximately 200 bus services with a fleet of 3,000 buses. The company also operates the North East MRT Line, which connects Punggol to the HarbourFront, as well as the Light Rail System in the Punggol and Sengkang new towns. The company also operates the Downtown Line (DTL), which is an approximately 42 kilometers (km) Line with 34 stations. The firm has two segments. The Public Transport Services segment is engaged in the provision of bus and rail services to commuters travelling on public transport systems. The Other Commercial Services segment is engaged in advertisements on buses and trains and at bus interchanges and rail stations, and rental collections from commercial and shop space at bus interchanges. Its subsidiary includes SBS Transit Rail Pte. Ltd., which is engaged in the operation and maintenance of the DTL.

S61 Intrinsic Value
3.86 SGD
Undervaluation 5%
Intrinsic Value
Price S$3.69
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