Valuetronics Holdings Limited (SG:BN2)
SGX:BN2
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Valuetronics Holdings
(SGX:BN2)
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Rating:75Outperform
Price Target:
S$1.50
▲(74.42% Upside)
Action:Reiterated
Date:05/29/26
The score is primarily supported by strong financial stability (notably a debt-free balance sheet) and a constructive technical uptrend. The main offsets are uneven revenue growth, a recent decline in net profitability, and lumpy free-cash-flow conversion; valuation is reasonable and supported by a solid dividend yield.
Positive Factors
Debt-free balance sheet
A zero-debt balance sheet provides durable financial flexibility: the firm can fund capex, absorb demand shocks, and support customer program ramps without external financing. Over 2–6 months this reduces refinancing risk, supports steady dividends or buybacks, and strengthens negotiating power with suppliers.
Negative Factors
Inconsistent revenue trends
Repeated revenue declines indicate lumpy customer demand or program timing risk. Over the medium term this undermines top-line visibility, complicates capacity planning and limits the predictability of margins and cash flow, which is critical for sustaining capex and dividend policies in EMS businesses.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A zero-debt balance sheet provides durable financial flexibility: the firm can fund capex, absorb demand shocks, and support customer program ramps without external financing. Over 2–6 months this reduces refinancing risk, supports steady dividends or buybacks, and strengthens negotiating power with suppliers.
Read all positive factors
Valuetronics Holdings (BN2) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$470.79M
Dividend Yield5.24%
Average Volume (3M)1.33M
Price to Earnings (P/E)23.4
Beta (1Y)0.78
Revenue Growth-7.63%
EPS Growth-33.33%
CountrySG
Employees4,000
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)0.42
Shares Outstanding435,630,830
10 Day Avg. Volume813,830
30 Day Avg. Volume1,327,702
Financial Highlights & Ratios
PEG Ratio-0.61
Price to Book (P/B)1.50
Price to Sales (P/S)1.33
P/FCF Ratio12.33
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.39
Revenue Forecast (FY)S$1.67B
Valuetronics Holdings Business Overview & Revenue Model
Company Description
Valuetronics Holdings Limited, an investment holding company, provides integrated electronics manufacturing services (EMS) in the United States, the People's Republic of China, Canada, Poland, Hong Kong, the Netherlands, Indonesia, France, Taiwan,...
How the Company Makes Money
Valuetronics primarily makes money by providing contract manufacturing and related value-added services to brand owners and original equipment manufacturers (OEMs). Revenue is generated when customers outsource the build of electronics products an...
Valuetronics Holdings Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
90
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.73B | 1.66B | 1.73B | 1.67B | 2.01B | 2.03B |
| Gross Profit | 293.72M | 312.13M | 293.72M | 265.15M | 261.69M | 274.81M |
| EBITDA | 219.49M | 178.72M | 219.49M | 213.29M | 187.94M | 188.00M |
| Net Income | 170.39M | 117.12M | 170.39M | 159.58M | 122.99M | 113.55M |
Balance Sheet | ||||||
| Total Assets | 2.18B | 2.18B | 2.18B | 2.09B | 2.08B | 2.10B |
| Cash, Cash Equivalents and Short-Term Investments | 1.09B | 1.21B | 1.09B | 1.16B | 1.01B | 936.66M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 727.66M | 714.77M | 727.66M | 689.32M | 713.91M | 727.05M |
| Stockholders Equity | 1.45B | 1.47B | 1.45B | 1.40B | 1.36B | 1.37B |
Cash Flow | ||||||
| Free Cash Flow | -20.08M | 178.42M | -20.08M | 212.62M | 163.55M | -104.23M |
| Operating Cash Flow | 207.93M | 225.41M | 207.93M | 233.70M | 198.17M | -10.92M |
| Investing Cash Flow | -171.77M | -3.88M | -171.77M | 35.70M | -10.83M | -85.24M |
| Financing Cash Flow | -104.44M | -110.90M | -104.44M | -113.65M | -112.80M | -98.25M |
Valuetronics Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | S$5.26B | 22.95 | 8.21% | 5.94% | -7.36% | -6.72% | |
75 Outperform | S$470.79M | 23.35 | 11.96% | 5.24% | -7.63% | -33.33% | |
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% | |
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% | |
46 Neutral | S$27.52M | -161.99 | -4.27% | ― | -50.20% | 86.42% |
* Technology Sector Average
SG:BN2
Valuetronics Holdings
1.10
0.44
66.16%
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Valuetronics Holdings Corporate Events
Valuetronics Sets New Dividend Payout Target of 50% to 70% of Net Profit
May 28, 2026
Valuetronics Holdings has revised its dividend policy, replacing the framework adopted in 2014 with a new target payout range of 50% to 70% of net profit attributable to shareholders each financial year. Dividends may be paid as interim or final d...
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.