AEM Holdings Ltd. (SG:AWX)
SGX:AWX
Want to see SG:AWX full AI Analyst Report?
Top Page
AEM Holdings Ltd.
(SGX:AWX)
Select Model
Select Model
Rating:64Neutral
Price Target:
S$11.00
▲(116.54% Upside)
Action:Downgraded
Date:05/30/26
The score is driven primarily by improving financial performance (earnings/cash flow recovery and a conservative balance sheet) and strong technical momentum above key moving averages. These positives are tempered by significant valuation risk from the very high P/E, despite the supportive dividend yield.
Positive Factors
Conservative balance sheet
Low leverage and a sizable equity base reduce financial risk and provide flexibility. This strengthens the company's ability to fund R&D, service installed systems, and sustain dividends or share buybacks during semiconductor capex cycles, supporting durability over months.
Negative Factors
Revenue decline since 2022
Sustained top-line declines since 2022 indicate weaker end-market demand or loss of share, which limits operating leverage. Continued revenue contraction can hinder margin recovery, reduce scale benefits, and constrain investment in product development over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a sizable equity base reduce financial risk and provide flexibility. This strengthens the company's ability to fund R&D, service installed systems, and sustain dividends or share buybacks during semiconductor capex cycles, supporting durability over months.
Read all positive factors
AEM Holdings Ltd. (AWX) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$3.22B
Dividend YieldN/A
Average Volume (3M)6.32M
Price to Earnings (P/E)183.3
Beta (1Y)1.20
Revenue Growth4.98%
EPS Growth47.27%
CountrySG
Employees2,372
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)0.05
Shares Outstanding322,075,100
10 Day Avg. Volume7,001,170
30 Day Avg. Volume6,323,733
Financial Highlights & Ratios
PEG Ratio0.68
Price to Book (P/B)1.10
Price to Sales (P/S)1.35
P/FCF Ratio4.39
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$10.69Price Target Upside110.48% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.21
Revenue Forecast (FY)S$588.92M
AEM Holdings Ltd. Business Overview & Revenue Model
Company Description
AEM Holdings Ltd provides intelligent system testing and handling solutions for semiconductor and electronics companies in Asia, Europe, and North and Central America. It operates through Test Cell Solutions, Instrumentation, Contract Manufacturin...
How the Company Makes Money
AEM primarily makes money by selling semiconductor test and handling equipment and integrated system solutions to customers in the semiconductor industry. Revenue is generated mainly from (1) product sales of its equipment/platforms and system con...
AEM Holdings Ltd. Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
76
Positive
Cash Flow
64
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 399.34M | 380.41M | 481.28M | 870.49M | 565.46M |
| Gross Profit | 102.52M | 97.61M | 129.30M | 273.66M | 186.65M |
| EBITDA | 47.98M | 43.12M | 40.95M | 185.23M | 126.71M |
| Net Income | 16.95M | 11.44M | -1.24M | 126.81M | 91.95M |
Balance Sheet | |||||
| Total Assets | 621.60M | 673.17M | 707.53M | 805.60M | 710.50M |
| Cash, Cash Equivalents and Short-Term Investments | 77.33M | 43.77M | 101.85M | 127.78M | 216.18M |
| Total Debt | 25.68M | 94.38M | 126.36M | 143.31M | 81.27M |
| Total Liabilities | 122.28M | 180.86M | 233.14M | 312.15M | 307.98M |
| Stockholders Equity | 492.77M | 485.70M | 467.46M | 485.05M | 402.51M |
Cash Flow | |||||
| Free Cash Flow | 122.89M | -41.70M | 14.39M | -58.91M | 35.23M |
| Operating Cash Flow | 131.63M | -17.52M | 40.17M | -31.43M | 52.00M |
| Investing Cash Flow | -23.56M | -8.79M | -20.09M | -38.44M | -85.22M |
| Financing Cash Flow | -75.69M | -31.78M | -46.91M | -19.28M | 113.51M |
AEM Holdings Ltd. Technical Analysis
Positive
5.08
Price Trends
6.72
Positive
4.55
Positive
3.13
Positive
Market Momentum
0.99
Positive
63.79
Neutral
69.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:AWX, the sentiment is Positive. The current price of 5.08 is below the 20-day moving average (MA) of 9.05, below the 50-day MA of 6.72, and above the 200-day MA of 3.13, indicating a bullish trend. The MACD of 0.99 indicates Positive momentum. The RSI at 63.79 is Neutral, neither overbought nor oversold. The STOCH value of 69.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:AWX.
AEM Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | S$414.32M | 29.07 | 26.70% | 3.73% | 11.38% | 22.41% | |
73 Outperform | S$717.77M | 17.35 | 12.85% | 17.05% | -30.42% | -43.04% | |
71 Outperform | S$1.32B | 43.54 | 6.55% | 1.88% | 8.91% | 5.41% | |
65 Neutral | S$2.36B | 48.93 | 10.62% | 3.88% | 6.92% | 13.76% | |
64 Neutral | S$3.22B | 183.28 | 3.48% | ― | 4.98% | 47.27% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | S$847.25M | 68.26 | 2.92% | 1.12% | 19.73% | 52.54% |
* Technology Sector Average
SG:AWX
AEM Holdings Ltd.
9.90
8.63
681.37%
SG:5DD
Micro-Mechanics (Holdings)
2.89
1.36
88.52%
SG:558
UMS Integration
2.61
1.67
178.25%
SG:8AZ
Aztech Global Ltd.
0.90
0.41
84.54%
SG:E28
Frencken Group Limited
3.00
1.83
156.85%
SG:MZH
Nanofilm Technologies International Ltd.
1.23
0.68
122.02%
AEM Holdings Ltd. Corporate Events
AEM Shareholders Approve FY2025 Accounts, Dividend and Board Line-up at 2026 AGM
May 27, 2026
AEM Holdings Ltd. held its annual general meeting in Singapore on 28 April 2026, where the board, management and external advisers were present in person and electronically to review the company’s performance for the year ended 31 December 2...
AEM Lifts FY2026 Outlook as AI/HPC Demand Powers Earnings Upswing
May 13, 2026
AEM Holdings reported a 35.8% year-on-year rise in first-quarter FY2026 revenue to S$116.9 million, driven mainly by high-volume production deployments for a fabless AI/HPC customer and recovering demand from a major PC/foundry client. Profit befo...
AEM Completes Revised Share Subscription and Warrant Issue to Strategic Investor
Apr 27, 2026
AEM Holdings has completed a revised share subscription with a strategic investor, issuing 3,341,000 new ordinary shares and 28,111,856 free detachable warrants, after slightly reducing the subscription size to avoid triggering additional regulato...
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.