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Deep Value: cash covers about 94% of the stock price

This company holds roughly $17.1B in cash and investments — about 94% of its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Wilmar International Limited logo

Wilmar International Limited

WLMIY
46
Agricultural Farm Products · Consumer Defensive
Exchange
Other OTC
Winston Score
46
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Weak
Growth
Strong
Cash Flow
Mixed
Stability
Strong
Valuation
Good
Dividends
Good

Winston Score History

The full picture

Wilmar International is one of the largest agribusiness companies in Asia. It processes and sells agricultural commodities like palm oil, soybeans, sugar, and rice. Its products reach food manufacturers, restaurants, and everyday consumers across Asia and beyond, sold under brands like Arawana in China.

Wilmar makes money by buying raw agricultural commodities, processing them into oils, flour, and other food ingredients, and selling them to businesses and consumers. It operates across more than 50 countries, with China being its biggest market, and its massive scale in processing and distribution gives it a cost advantage over smaller rivals. The main risk is that thin profit margins — common in commodity processing — leave little room for error when raw material prices spike or demand softens.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+17.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+2.1% YoY

YoY Growth Rate

Slow EPS growth

Insider Activity

75.3%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↑ Burn rate improving

$17.1B cash & investments at current burn rate

Growth context

Wilmar International Limited is growing revenue at 17% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
8.5%
Thin — 8.5% gross margin
Profit after running costs
Operating Margin
3.5%
Thin — 3.5% operating margin
Return on the money invested
ROCE
4.8%
Weak — 4.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
+9.7%
Steady sales growth (+9.7% YoY)
Profit growth
EPS YoY
+21.1%
Earnings growing fast (+21.1% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
76%
Modest — 76% of profit becomes cash
Spare cash per sale
FCF Margin
-0.2%
Burning cash (-0.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
1.45
Elevated debt (1.45)
Covers its interest
Interest Cover
100.00x
Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
12.5x
no trend
Attractive valuation — P/E 12.5

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
5.35%
no trend
Healthy income — 5.35% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
-23.1%
no trend
Dividend cut (-23.1% YoY) — warning sign

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