Wilmar International’s share price has drifted lower over the past week and month, yet the latest half year numbers tell a calmer story than the recent selling suggests. The stock closed at SGD3.71 on 13 August, with short term returns under pressure, while the business produced H1 2026 revenue of about US$38.6b and basic earnings per share of US$0.098.
The real flashpoint for sentiment sits around margins and balance sheet strength. Net profit margin over the past year sits at 1.9% and the company continues to carry debt that is not well covered by operating cash flow.
Is Wilmar International at 12.7x P/E with a discounted cash flow estimate of SGD8.73 versus a SGD3.71 share price a genuine valuation gap, or a warning sign about future returns? Compare the implied upside and risk trade off in our valuation analysis for Wilmar International
H1 2026 Earnings Summary
- Revenue, H1 2026 vs. H1 2025: US$38,559.815m vs. US$32,891.907m (change reflects higher reported revenue in the latest half)
- Net Income, H1 2026 vs. H1 2025: US$608.858m vs. US$594.935m (modest increase in net income excluding extra items)
- Basic EPS, H1 2026 vs. H1 2025: US$0.098 vs. US$0.095 (slight improvement in per share earnings)
- Trailing Net Profit Margin, last 12 months vs. prior year: 1.9% vs. 1.7% (margin is slightly higher on a trailing basis)
Tired of scrolling through earnings tables and margin figures for Wilmar International? See the company’s full financial picture, including a clear view of its valuation, in an easy visual format with our company report for Wilmar International..
Wilmar’s Earnings Support a Cautious Bull Story
For investors leaning positive on Wilmar International, the latest half year numbers give some support. Revenue for H1 2026 sits around US$38.6b with net income at about US$608.9m and basic EPS at US$0.098. These figures are slightly higher than the prior year period, which fits a view of a broad food and feed platform that is holding its ground. The recent agri food joint venture in West Africa also lines up with the idea of a diversified essentials business that is still expanding its geographic reach.
Margin Strain Keeps the Bear Case Alive
The bear story around Wilmar International focuses on thin margins and balance sheet pressure, and the latest data does not dismiss those concerns. Trailing net profit margin is 1.9%, which leaves little room for error in a commodity heavy business. Management still relies on debt that is not well covered by operating cash flow. Short term share price performance has also been weak, with returns over 7, 30 and 90 days all in decline. That price trend suggests investors are still wary about near term risks.
Access the Wilmar International forecasts, where the surface looks calm but the models start to disagree on when growth, margins and cash generation could inflect, by reviewing the analyst estimates for Wilmar International.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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