Aztech Global Ltd. (SG:8AZ)
SGX:8AZ
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Aztech Global Ltd.
(SGX:8AZ)
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Rating:71Outperform
Price Target:
S$0.94
▲(9.65% Upside)
Action:ReiteratedDate:03/01/26
The score is driven primarily by solid underlying financial stability (low leverage) but tempered by the sharp 2025 revenue and margin deterioration that raises near-term execution risk. Valuation is supportive due to a reasonable P/E and very high dividend yield, while technicals are positive but look overheated (high RSI), limiting upside confidence in the short term.
Positive Factors
Low leverage
The balance sheet is conservatively structured with extremely low debt relative to equity, giving the company flexibility to weather cyclical downturns, fund working capital or capex, and support dividends without urgent refinancing needs. This reduces solvency risk over the next several months.
Negative Factors
Sharp revenue decline
A roughly 28% revenue drop in 2025 represents a meaningful loss of scale that impairs fixed-cost absorption and operating leverage. Restoring prior volumes or replacing lost contracts is a medium-term execution challenge and raises risk to earnings and cash generation until recovery is achieved.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
The balance sheet is conservatively structured with extremely low debt relative to equity, giving the company flexibility to weather cyclical downturns, fund working capital or capex, and support dividends without urgent refinancing needs. This reduces solvency risk over the next several months.
Read all positive factors
Aztech Global Ltd. (8AZ) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$671.46M
Dividend Yield17.05%
Average Volume (3M)699.89K
Price to Earnings (P/E)12.6
Beta (1Y)0.29
Revenue Growth-50.75%
EPS Growth-61.46%
CountrySG
Employees2,000
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)0.02
Shares Outstanding773,825,560
10 Day Avg. Volume642,390
30 Day Avg. Volume699,886
Financial Highlights & Ratios
PEG Ratio-0.29
Price to Book (P/B)1.73
Price to Sales (P/S)1.17
P/FCF Ratio11.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$0.73Price Target Upside-15.70% Downside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)0.06
Revenue Forecast (FY)S$473.30M
Aztech Global Ltd. Business Overview & Revenue Model
Company Description
Aztech Global Ltd., together with its subsidiaries, engages in the research, development, engineering, and manufacturing of IoT devices, data-communication products, and LED lighting products in Singapore, North America, China, Europe, and interna...
How the Company Makes Money
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Aztech Global Ltd. Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
82
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 600.52M | 432.50M | 621.61M | 896.29M | 820.24M | 624.36M |
| Gross Profit | 118.50M | 51.27M | 141.57M | 148.86M | 204.66M | 155.47M |
| EBITDA | 70.52M | 46.98M | 91.29M | 133.56M | 90.27M | 95.85M |
| Net Income | 53.64M | 40.17M | 70.53M | 100.01M | 67.19M | 74.38M |
Balance Sheet | ||||||
| Total Assets | 459.71M | 428.32M | 471.21M | 597.27M | 541.39M | 518.20M |
| Cash, Cash Equivalents and Short-Term Investments | 228.56M | 269.58M | 311.26M | 272.02M | 226.22M | 201.51M |
| Total Debt | 13.48M | 14.56M | 17.13M | 22.20M | 8.45M | 18.03M |
| Total Liabilities | 186.40M | 136.70M | 132.12M | 252.33M | 257.39M | 225.23M |
| Stockholders Equity | 273.31M | 291.63M | 339.09M | 344.94M | 284.00M | 292.97M |
Cash Flow | ||||||
| Free Cash Flow | 52.79M | 43.30M | 109.91M | 86.72M | 99.96M | 37.11M |
| Operating Cash Flow | 53.72M | 45.05M | 113.30M | 90.99M | 106.42M | 41.90M |
| Investing Cash Flow | -413.00K | -122.64M | 29.05M | -13.70M | -34.45M | -4.10M |
| Financing Cash Flow | -41.72M | -91.80M | -83.08M | -43.48M | -75.36M | 151.92M |
Aztech Global Ltd. Technical Analysis
Positive
0.86
Price Trends
0.77
Positive
0.71
Positive
0.68
Positive
Market Momentum
0.03
Negative
65.67
Neutral
62.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:8AZ, the sentiment is Positive. The current price of 0.86 is above the 20-day moving average (MA) of 0.83, above the 50-day MA of 0.77, and above the 200-day MA of 0.68, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 65.67 is Neutral, neither overbought nor oversold. The STOCH value of 62.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:8AZ.
Aztech Global Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | S$1.06B | 15.07 | 9.11% | 1.88% | 11.57% | 0.89% | |
73 Outperform | S$449.19M | ― | 11.96% | 5.24% | ― | ― | |
71 Outperform | S$671.46M | 12.58 | 12.85% | 17.05% | -50.75% | -61.46% | |
64 Neutral | S$364.65M | ― | 20.79% | ― | 31.67% | 250.00% | |
63 Neutral | S$1.54B | 31.84 | 3.48% | ― | 4.60% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | S$64.42M | -16.09 | -9.70% | ― | -11.99% | -2666.67% |
* Technology Sector Average
SG:8AZ
Aztech Global Ltd.
0.86
0.30
55.45%
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Aztech Global Ltd. Corporate Events
Aztech Global’s Malaysia Plant Wins FDA Registration for U.S.-Bound Medical Devices
Jan 22, 2026
Aztech Global’s Malaysian manufacturing arm, IOT Manufacturing Sdn. Bhd., has secured U.S. FDA establishment registration under 21 CFR Part 807 for its Pasir Gudang facility, adding to its existing ISO 13485 certification for medical devices...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.