Marco Polo Marine Ltd. (5LY) AI Stock Analysis

• Market Cap: S$601.00M
• Dividend Yield: 0.6%
• Average Volume (3M): 46.57M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.28
• Revenue Growth: -0.58%
• EPS Growth: 23.33%
• Country: SG
• Employees: 404
• Sector: Industrials
• Sector Strength: 72
• Industry: Marine Shipping
• EPS (TTM): N/A
• Shares Outstanding: 3,906,819,000
• 10 Day Avg. Volume: 59,332,750
• 30 Day Avg. Volume: 46,569,856
• PEG Ratio: 0.03
• Price to Book (P/B): 1.19
• Price to Sales (P/S): 2.32
• P/FCF Ratio: -9.66
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: S$0.19
• Price Target Upside: 137.50% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): <0.01
• Revenue Forecast (FY): S$194.15M

• Rating: 75 Outperform
• Price Target: S$0.17 ▲(106.25% Upside)
• Action: Reiterated Date: 03/04/26
• Date: Action: Reiterated 03/04/26

The score is driven primarily by strong profitability and a conservative balance sheet, partially offset by weak free cash flow trends. Technicals are supportive with the price above major moving averages and positive MACD, but momentum indicators suggest the stock is becoming extended. Valuation also helps, with a moderate P/E and a positive dividend yield.

Positive Factors

High Profitability and Margins

Sustained, very high gross and operating margins indicate structural cost efficiency and pricing power in core marine services. Over 2–6 months this underpins durable earnings resilience, funds reinvestment and supports shareholder returns even if revenues moderate.

Conservative Capital Structure

A low leverage profile and high equity funding provide durable financial flexibility to withstand shipping cycles, pursue selective investments, and reduce default risk. Strong ROE shows efficient capital use, supporting long-term shareholder value generation.

Operating Cash Flow Converts Near Net Income

High conversion of earnings into operating cash indicates quality of core profits and reliable cash generation. This supports predictable funding for working capital and maintenance capex, a durable advantage in a capital-intensive marine business.

Negative Factors

Weak Free Cash Flow Trend

Declining free cash flow and a negative FCF-to-income ratio signal limited leftover cash after operations and capex. Over months this constrains dividend capacity, deleveraging or growth investments and raises liquidity and earnings-quality concerns if the trend persists.

Rising Total Debt Needs Monitoring

A trend of growing debt, even from a low base, can erode financial flexibility if continued. In a sector sensitive to rate cycles and utilization, rising debt increases interest exposure and reduces capacity to absorb downturns over the medium term.

Revenue Sensitivity to Vessel Utilization and Charter Rates

Business model reliance on deployed vessel utilization and charter pricing ties revenue to cyclical marine market conditions. Structural downturns or prolonged weak charter rates can materially reduce utilization, revenues and margin durability over several months.

Marco Polo Marine Ltd. Business Overview & Revenue Model

Company Description

Marco Polo Marine Ltd., an investment holding company, operates as an integrated marine logistic company primarily in Singapore, Indonesia, Australia, Myanmar, Taiwan, and Malaysia. The company operates through Ship Chartering Services; and Ship Building and Repair Services segments. It engages in chartering of offshore supply vessels, such as anchor handling tug supply vessels, as well as tugboats and barges for mining, commodities, construction, infrastructure, and land reclamation industries. The company is also involved in ship building business, as well as provision of ship maintenance, repair, outfitting, and conversion services. In addition, it engages in contract services and trading activities, management consultancy and marketing activities, and ship chartering services. The company was founded in 1991 and is based in Singapore.

How the Company Makes Money

Marco Polo Marine makes money primarily by (1) earning charter income from providing vessels for hire to customers and (2) generating shipyard/service income from marine engineering work such as vessel repair and maintenance. Chartering revenue typically depends on the number and type of vessels deployed, charter duration, and agreed charter rates, while shipyard revenue depends on the volume and mix of repair/maintenance jobs and associated labor and materials. If the company has additional material revenue streams (e.g., specific long-term contracts, named strategic partnerships, or customer concentration details), null.

Marco Polo Marine Ltd. Financial Statement Overview

Summary

Strong profitability and margins (gross 44.15%, net 47.65%, EBIT 59.07%, EBITDA 71.59%) plus revenue growth (+7.12%) support a solid score. The balance sheet is stable with low leverage (debt-to-equity 0.20) and strong ROE (24.50%), but cash flow is the key constraint: free cash flow growth is negative (-10.44%) and FCF-to-net-income is weak (-0.72), creating liquidity/quality-of-earnings risk.

Income Statement

Marco Polo Marine Ltd. has demonstrated strong revenue growth with a 7.12% increase in the latest year, alongside impressive profitability metrics. The company boasts a high gross profit margin of 44.15% and a net profit margin of 47.65%, indicating efficient cost management and strong bottom-line performance. The EBIT and EBITDA margins are also robust at 59.07% and 71.59%, respectively, reflecting solid operational efficiency. Overall, the income statement reflects a positive growth trajectory and strong profitability.

Balance Sheet

The balance sheet of Marco Polo Marine Ltd. is characterized by a low debt-to-equity ratio of 0.20, indicating conservative leverage and financial stability. The return on equity is strong at 24.50%, showcasing effective use of shareholder funds to generate profits. The equity ratio stands at 68.35%, suggesting a solid capital structure with a significant portion of assets financed by equity. While the company maintains a healthy balance sheet, the increase in total debt over the years warrants monitoring.

Cash Flow

The cash flow statement reveals some challenges, with a negative free cash flow growth rate of -10.44% and a free cash flow to net income ratio of -0.72, indicating cash flow issues relative to net income. However, the operating cash flow to net income ratio is 0.92, suggesting that operating activities are generating cash close to net income levels. While operating cash flow remains strong, the negative free cash flow highlights potential liquidity concerns that need addressing.

Breakdown	TTM	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	114.65M	122.81M	123.53M	127.13M	86.09M	46.11M
Gross Profit	47.92M	54.22M	48.52M	45.74M	27.48M	12.01M
EBITDA	28.56M	87.92M	39.74M	42.67M	32.19M	22.21M
Net Income	21.32M	58.52M	21.70M	22.58M	21.34M	14.78M
Balance Sheet
Total Assets	287.16M	349.29M	276.94M	229.08M	188.11M	139.58M
Cash, Cash Equivalents and Short-Term Investments	45.62M	52.25M	68.77M	63.10M	53.51M	20.35M
Total Debt	34.62M	48.06M	40.32M	8.54M	3.76M	4.47M
Total Liabilities	77.42M	85.02M	75.86M	45.19M	36.45M	24.70M
Stockholders Equity	193.93M	238.86M	183.63M	167.84M	138.88M	114.88M
Cash Flow
Free Cash Flow	-32.95M	-29.51M	-24.17M	-4.27M	24.06M	6.60M
Operating Cash Flow	41.33M	40.77M	37.63M	28.11M	28.66M	8.83M
Investing Cash Flow	-62.33M	-56.49M	-55.98M	-22.82M	3.43M	-2.23M
Financing Cash Flow	15.00M	-936.00K	25.22M	6.05M	-755.00K	-322.00K

Marco Polo Marine Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.08
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:5LY, the sentiment is Neutral. The current price of 0.08 is below the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.15, and below the 200-day MA of 0.10, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 45.67 is Neutral, neither overbought nor oversold. The STOCH value of 43.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:5LY.

Marco Polo Marine Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5LY	75 Outperform	S$601.00M	―	7.89%	0.60%	-0.58%	23.33%
1MZ	75 Outperform	S$589.01M	4.53	47.96%	―	―	―
RXS	71 Outperform	S$120.79M	―	43.88%	0.49%	―	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
5UL	63 Neutral	S$59.68M	6.43	23.71%	348.53%	-86.29%	20.88%
A04	61 Neutral	S$324.15M	―	12.80%	0.78%	―	―
F83	60 Neutral	S$519.50M	68.26	1.18%	―	6.34%	160.00%

Marco Polo Marine Ltd. Corporate Events

Marine Veteran Michael Kum Becomes Substantial Shareholder in Marco Polo Marine

Marine logistics provider Marco Polo Marine has drawn increased backing from veteran maritime executive Michael Kum, who has raised his stake to about 225 million shares, or 5.77% of the company, becoming a substantial shareholder. The move, executed via his investment vehicle Halom Investments through the purchase of 60 million shares from Penguin International, is portrayed by the company as a strong endorsement of its strategic push in offshore oil and gas and renewable energy marine services, with management highlighting the value of Kum’s experience in scaling offshore businesses for its future growth and industry positioning.

The most recent analyst rating on (SG:5LY) stock is a Buy with a S$0.19 price target. To see the full list of analyst forecasts on Marco Polo Marine Ltd. stock, see the SG:5LY Stock Forecast page.

Marco Polo Marine Raises S$21 Million in Oversubscribed Private Placement

Marco Polo Marine has completed a private placement raising approximately S$21 million through the issuance of 144,865,920 new ordinary shares at S$0.145 each. The funds were secured via a transaction arranged by Maybank Securities, targeting selected institutional and high-net-worth investors for the company’s business expansion.

The placement drew strong demand from a roster of institutional investors including funds managed by Areca Capital, Asdew Acquisitions, Astral Value Fund VCC and others. Management highlighted that the participation of these reputable investors signals market confidence in Marco Polo Marine’s growth strategy and reinforces its positioning in the offshore marine sector.

The most recent analyst rating on (SG:5LY) stock is a Buy with a S$0.19 price target. To see the full list of analyst forecasts on Marco Polo Marine Ltd. stock, see the SG:5LY Stock Forecast page.

Marco Polo Marine Lifts Revenue 27% on Offshore Wind Chartering Surge

Marco Polo Marine reported a strong start to FY2026, with first-quarter revenue rising 27% year-on-year to S$32.8 million, driven mainly by a 53% surge in ship chartering operations. Gross profit climbed 32% to S$14.0 million and margins improved to 43%, reflecting the benefits of recent fleet expansion and higher-value offshore wind assignments.

The Group’s strategic push into offshore wind gained further validation as its flagship commissioning service operations vessel, MP Wind Archer, received a prestigious Vessel of the Year award. Development of a next-generation CSOV Plus is underway, reinforcing the company’s ambitions to cement its leadership in Asia-Pacific offshore wind logistics and enhance its long-term competitiveness and earnings visibility.

The most recent analyst rating on (SG:5LY) stock is a Buy with a S$0.18 price target. To see the full list of analyst forecasts on Marco Polo Marine Ltd. stock, see the SG:5LY Stock Forecast page.

Marco Polo Marine Details Procedures at Twentieth Annual General Meeting

Marco Polo Marine Ltd. held its twentieth annual general meeting in Singapore on 23 January 2026, with the board of directors, company secretaries and external auditors in attendance and a valid quorum established. The meeting followed formal procedures, including a single Q&A session after all resolutions, and the prior circulation of the notice of meeting.

All resolutions at the AGM were to be decided by poll, with the chairman acting as proxy for numerous shareholders and voting according to their instructions. The company appointed a polling agent and an independent scrutineer to manage and verify votes, enabled shareholders to vote and ask questions live, and provided a short video to familiarise participants with the electronic voting platform.

The most recent analyst rating on (SG:5LY) stock is a Buy with a S$0.18 price target. To see the full list of analyst forecasts on Marco Polo Marine Ltd. stock, see the SG:5LY Stock Forecast page.

Marco Polo Marine’s MP Wind Archer Named Offshore Energy Vessel of the Year

The company’s CSOV MP Wind Archer, built through its Batam yard and operated via subsidiary PKR Offshore, won Offshore Energy Vessel of the Year at the OSJ 2026 awards, affirming its design and operational standards. The accolade underscores Marco Polo Marine’s expanding technical capabilities and role in Asia-Pacific offshore wind, with the vessel currently supporting Vestas’ Taiwan operations and reinforcing the group’s positioning in the region’s greener maritime supply chain.

The most recent analyst rating on (SG:5LY) stock is a Buy with a S$0.18 price target. To see the full list of analyst forecasts on Marco Polo Marine Ltd. stock, see the SG:5LY Stock Forecast page.

Marco Polo Marine Reshuffles Board Committee Line-Up to Strengthen Governance

Marco Polo Marine has reconstituted its board committees, announcing a refreshed structure for its Audit, Nominating and Remuneration Committees with immediate effect. Independent director Koh Chun Yuan now chairs both the Audit and Remuneration Committees, while independent director Leong Kah Wah leads the Nominating Committee, signalling a continued emphasis on independent oversight and corporate governance as the company refines its leadership and board structures.

The most recent analyst rating on (SG:5LY) stock is a Buy with a S$0.18 price target. To see the full list of analyst forecasts on Marco Polo Marine Ltd. stock, see the SG:5LY Stock Forecast page.

Veteran Marine Investor Michael Kum’s Halom Investments Buys 150 Million Marco Polo Marine Shares

Halom Investments Pte. Ltd., an entity controlled by veteran marine industry figure Michael Kum, has acquired 150 million shares of Marco Polo Marine Ltd. from existing shareholder Apricot Capital Pte. Ltd. in a secondary market transaction on 22 January 2026, signaling renewed investor interest in the integrated marine logistics group. The entry of a seasoned industry investor with substantial exposure may strengthen confidence in Marco Polo Marine’s strategic direction, particularly as it diversifies beyond oil and gas into offshore wind farm support, potentially enhancing its positioning in the growing regional renewable energy marine services market.

The most recent analyst rating on (SG:5LY) stock is a Buy with a S$0.18 price target. To see the full list of analyst forecasts on Marco Polo Marine Ltd. stock, see the SG:5LY Stock Forecast page.