Maxi-Cash Financial Services Corp. Ltd. (5UF) AI Stock Analysis

• Market Cap: S$519.74M
• Dividend Yield: 5.76%
• Average Volume (3M): 4.60M
• Price to Earnings (P/E): 10.3
• Beta (1Y): 0.49
• Revenue Growth: 42.42%
• EPS Growth: 53.37%
• Country: SG
• Employees: N/A
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Luxury Goods
• EPS (TTM): 0.01
• Shares Outstanding: 1,856,305,200
• 10 Day Avg. Volume: 2,660,630
• 30 Day Avg. Volume: 4,604,090
• PEG Ratio: 0.08
• Price to Book (P/B): 0.75
• Price to Sales (P/S): 0.31
• P/FCF Ratio: -3.04
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: S$0.31 ▲(41.82% Upside)

The score is driven primarily by solid financial performance in revenue/profitability and an improving leverage profile, offset by ongoing negative operating/free cash flow. Technicals are supportive with price above major moving averages and positive MACD, while valuation is helped by a low-to-moderate P/E and a solid dividend yield.

Positive Factors

Revenue & margin improvement

Sustained revenue growth and rising net margin signal durable top-line momentum and improving profitability. Stable gross margin near 36% supports pricing and cost structure resilience, enabling reinvestment in branches and products and underpinning medium-term earnings stability.

Secured lending business model

A collateralized lending model (gold-backed and pawnbroking) provides inherent credit protection and predictable interest income. Sales of unredeemed pledges create a recovery channel, while partnerships with banks and suppliers expand origination and sourcing, reinforcing a defensible, cash-generating niche.

High return on equity

A near-20% ROE reflects effective deployment of equity into profitable lending and retail activities, signaling operational efficiency. Improved leverage shows management discipline in funding mix, supporting continued shareholder returns and internal funding capacity for measured growth.

Negative Factors

Weak operating cash flow

Negative operating cash flow is a structural concern: it constrains the firm's ability to internally fund loan growth, inventory (gold/jewelry) and capital needs. Persistent cash shortfalls force reliance on external financing, increasing refinancing and liquidity risk over the medium term.

Low equity ratio / limited capital buffer

A low equity ratio reduces the capital cushion against loan losses or collateral value shocks. Even with D/E improvement, a thin equity base makes the company more sensitive to credit stress and limits capacity to expand the loan book without raising external capital, raising solvency risk.

Exposure to gold and retail cycles

Reliance on gold-backed lending and retailing ties recoveries and resale values to commodity prices and consumer demand. In prolonged downturns, collateral values and secondary-market demand can fall, elevating loss rates and margin pressure and making earnings more cyclical and asset-quality sensitive.

Maxi-Cash Financial Services Corp. Ltd. Business Overview & Revenue Model

Company Description

Aspial Lifestyle Limited, an investment holding company, retails and trades in jewelry and branded merchandise in Singapore and internationally. It operates through Pawnbroking; Secured Lending; and Retail and Trading of Jewellery and Branded Merchandise, and Others segments. It also involved in the pawnbroking and secured lending activities; property rental; and provision of financial, real estate, and other support and management services. The company markets its products under the Maxi-Cash, Lee Hwa Jewellery, and Goldheart brand names. Aspial Lifestyle Limited was incorporated in 2008 and is based in Singapore. Aspial Lifestyle Limited is a subsidiary of Aspial Corporation Limited.

How the Company Makes Money

Maxi-Cash generates revenue primarily through interest income from its pawnbroking and loan services. The company provides secured loans against collateral, such as gold, which allows it to charge competitive interest rates while minimizing risk. Additionally, Maxi-Cash earns income from the sale of unredeemed pledges, where collateral items that are not reclaimed by customers are sold to recover the loan amounts. The company also engages in retailing gold and jewelry, contributing to its revenue streams. Furthermore, strategic partnerships with financial institutions and gold suppliers enhance its operational capabilities and market reach, driving additional earnings.

Maxi-Cash Financial Services Corp. Ltd. Financial Statement Overview

Summary

Income statement strength (revenue up 8.98% TTM; net margin improved to 6.84%) is tempered by weaker cash generation (negative operating and free cash flow) and a balance sheet that, while improving in leverage (debt-to-equity 0.90) and showing strong ROE (19.17%), still carries a low equity ratio risk.

Income Statement

Maxi-Cash Financial Services Corp. Ltd. has demonstrated strong revenue growth with an 8.98% increase in TTM, indicating a positive trajectory. The gross profit margin is stable at 36.29%, and the net profit margin has improved to 6.84%, reflecting enhanced profitability. However, the EBITDA margin has slightly decreased to 14.09%, suggesting some pressure on operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.90 in TTM from previous years, indicating better leverage management. Return on equity is strong at 19.17%, showcasing effective use of equity to generate profits. However, the equity ratio remains low, suggesting potential risks if leverage increases.

Cash Flow

The cash flow situation is challenging, with negative operating cash flow and free cash flow in TTM. Despite a 5.7% growth in free cash flow, the negative operating cash flow coverage ratio indicates potential liquidity issues. The free cash flow to net income ratio is healthy at 115.80%, showing that the company is generating cash relative to its net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	703.51M	587.56M	471.58M	319.01M	225.70M	262.82M
Gross Profit	255.31M	215.17M	164.48M	110.22M	81.82M	83.60M
EBITDA	99.12M	114.47M	83.85M	57.11M	42.00M	33.82M
Net Income	48.12M	34.33M	19.19M	15.98M	14.45M	29.26M
Balance Sheet
Total Assets	1.29B	1.24B	920.23M	826.48M	581.94M	516.54M
Cash, Cash Equivalents and Short-Term Investments	37.94M	42.74M	32.64M	30.81M	19.73M	23.82M
Total Debt	234.91M	730.92M	698.20M	611.96M	415.96M	345.80M
Total Liabilities	1.01B	988.12M	749.17M	666.12M	431.39M	363.93M
Stockholders Equity	261.73M	240.36M	165.88M	159.19M	149.43M	151.57M
Cash Flow
Free Cash Flow	-63.76M	-59.46M	10.66M	-22.96M	-47.36M	45.96M
Operating Cash Flow	-55.06M	-46.08M	16.33M	-17.22M	-22.10M	72.77M
Investing Cash Flow	8.54M	-809.00K	-5.48M	-22.24M	-23.97M	-14.99M
Financing Cash Flow	66.69M	56.93M	-9.04M	50.43M	42.02M	-49.92M

Maxi-Cash Financial Services Corp. Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.22
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:5UF, the sentiment is Positive. The current price of 0.22 is below the 20-day moving average (MA) of 0.25, below the 50-day MA of 0.23, and above the 200-day MA of 0.17, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 61.73 is Neutral, neither overbought nor oversold. The STOCH value of 47.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:5UF.

Maxi-Cash Financial Services Corp. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
T6I	74 Outperform	S$1.10B	10.78	18.70%	3.92%	20.97%	37.69%
5UF	73 Outperform	S$519.74M	10.26	22.53%	5.76%	42.42%	53.37%
AWI	73 Outperform	S$223.77M	1.75	60.53%	2.44%	35.72%	1011.32%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Maxi-Cash Financial Services Corp. Ltd. Corporate Events

Aspial Lifestyle Raises Additional S$25m via 5.10% Notes, Concentrates Holdings with Insiders

Aspial Lifestyle Limited has issued a new S$25 million tranche of 5.10% notes due 2029 under its S$300 million multicurrency medium term note programme, which will be consolidated with the existing S$75 million of 5.10% notes due 2029 to form a single S$100 million Series 005. The notes, placed with DBS Bank as sole dealer and expected to list on the Singapore Exchange on 21 January 2026, will see about 28.5% of the total Series 005 issue ultimately held by certain directors, controlling shareholders and their associates, a concentration that gives them substantial noteholder influence and may affect voting outcomes and secondary market liquidity for other investors.

The most recent analyst rating on (SG:5UF) stock is a Buy with a S$0.26 price target. To see the full list of analyst forecasts on Maxi-Cash Financial Services Corp. Ltd. stock, see the SG:5UF Stock Forecast page.

Aspial Lifestyle Prices Additional S$25 Million 5.10% Notes Due 2029 for SGX Listing

Aspial Lifestyle Limited has priced a new S$25 million tranche of 5.10 per cent. notes due 2029 under its S$300 million multicurrency medium-term note programme, which will be consolidated with an existing S$75 million tranche of notes carrying the same coupon and maturity. The notes, offered in denominations of S$250,000 to institutional and accredited investors in Singapore with DBS Bank Ltd. as sole dealer, will rank as direct, unsubordinated and unsecured obligations, are expected to be issued around 20 January 2026 and listed on SGX-ST on 21 January 2026, with net proceeds earmarked for general corporate purposes including refinancing, investments and working capital, while noteholders are granted a put option in the event of a change of control among key shareholders.

The most recent analyst rating on (SG:5UF) stock is a Buy with a S$0.24 price target. To see the full list of analyst forecasts on Maxi-Cash Financial Services Corp. Ltd. stock, see the SG:5UF Stock Forecast page.