Tiong Woon Corporation Holding Ltd (SG:BQM)
SGX:BQM
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Tiong Woon Corporation Holding Ltd
(SGX:BQM)
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Rating:74Outperform
Price Target:
S$1.00
â–²(28.21% Upside)
Action:ReiteratedDate:02/20/26
The score is driven primarily by solid financial performance (growth and margins) tempered by a significant free-cash-flow decline, alongside strong technical uptrend signals. Valuation is supportive with a moderate P/E and modest dividend yield.
Positive Factors
Revenue Growth
Consistent double-digit top-line growth demonstrates sustained demand for specialized heavy lifting and logistics services. Over 2–6 months this trend supports scale benefits, expanding project experience and backlog conversion potential, strengthening long-term revenue visibility.
Negative Factors
Sharp Free Cash Flow Decline
A near-70% fall in free cash flow materially reduces capacity to replace/expand specialized lifting assets or fund organic growth without external financing. Over several months this weakens reinvestment potential, increases reliance on capital markets and limits strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent double-digit top-line growth demonstrates sustained demand for specialized heavy lifting and logistics services. Over 2–6 months this trend supports scale benefits, expanding project experience and backlog conversion potential, strengthening long-term revenue visibility.
Read all positive factors
Tiong Woon Corporation Holding Ltd (BQM) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$220.62M
Dividend Yield2.24%
Average Volume (3M)170.50K
Price to Earnings (P/E)3.3
Beta (1Y)0.60
Revenue Growth14.25%
EPS Growth5.61%
CountrySG
Employees1,223
SectorIndustrials
Sector Strength72
IndustryRental & Leasing Services
Share Statistics
EPS (TTM)0.06
Shares Outstanding232,235,240
10 Day Avg. Volume214,840
30 Day Avg. Volume170,500
Financial Highlights & Ratios
PEG Ratio1.35
Price to Book (P/B)0.45
Price to Sales (P/S)0.89
P/FCF Ratio23.08
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$1.30Price Target Upside66.03% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.09
Revenue Forecast (FY)S$183.10M
Tiong Woon Corporation Holding Ltd Business Overview & Revenue Model
Company Description
Tiong Woon Corporation Holding Ltd, an investment holding company, provides integrated services for the oil and gas, petrochemical, infrastructure, and construction sectors. The company operates through three segments: Heavy Lift and Haulage, Mari...
How the Company Makes Money
Tiong Woon Corporation generates revenue primarily through its core services, which include heavy lifting, transportation, and logistics solutions. The company earns money by charging clients for the rental of its cranes and heavy vehicles, as wel...
Tiong Woon Corporation Holding Ltd Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 174.46M | 163.52M | 143.13M | 135.81M | 122.59M | 112.95M |
| Gross Profit | 69.59M | 61.44M | 58.98M | 54.15M | 49.34M | 42.44M |
| EBITDA | 90.78M | 63.27M | 60.30M | 56.30M | 51.05M | 48.85M |
| Net Income | 20.81M | 19.22M | 18.21M | 15.70M | 11.39M | 9.87M |
Balance Sheet | ||||||
| Total Assets | 556.57M | 532.32M | 519.06M | 491.51M | 476.26M | 459.33M |
| Cash, Cash Equivalents and Short-Term Investments | 81.30M | 64.83M | 81.30M | 75.69M | 56.19M | 45.81M |
| Total Debt | 129.64M | 111.78M | 92.81M | 99.25M | 116.27M | 117.03M |
| Total Liabilities | 224.72M | 210.01M | 209.70M | 198.22M | 195.36M | 188.39M |
| Stockholders Equity | 331.83M | 322.29M | 309.35M | 293.36M | 280.92M | 270.92M |
Cash Flow | ||||||
| Free Cash Flow | 27.79M | 6.28M | 13.73M | 39.93M | 23.75M | 21.09M |
| Operating Cash Flow | 60.86M | 51.45M | 39.52M | 43.52M | 36.96M | 29.06M |
| Investing Cash Flow | -28.00M | -34.43M | -9.98M | 5.33M | -9.78M | -5.09M |
| Financing Cash Flow | -24.13M | -33.38M | -24.53M | -29.22M | -17.00M | -17.64M |
Tiong Woon Corporation Holding Ltd Technical Analysis
Positive
0.78
Price Trends
0.97
Negative
0.88
Positive
0.81
Positive
Market Momentum
>-0.01
Positive
49.65
Neutral
35.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:BQM, the sentiment is Positive. The current price of 0.78 is below the 20-day moving average (MA) of 0.98, below the 50-day MA of 0.97, and below the 200-day MA of 0.81, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 49.65 is Neutral, neither overbought nor oversold. The STOCH value of 35.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:BQM.
Tiong Woon Corporation Holding Ltd Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | S$220.62M | 3.27 | 6.36% | 2.24% | 14.25% | 5.61% | |
73 Outperform | S$186.11M | 9.32 | 13.44% | 1.84% | 13.35% | 20.00% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | S$78.21M | 13.85 | 4.94% | 1.46% | -9.88% | -35.30% |
* Industrials Sector Average
SG:BQM
Tiong Woon Corporation Holding Ltd
0.95
0.36
61.02%
SG:BKA
Sin Heng Heavy Machinery Limited
0.70
0.20
40.69%
SG:K75
Koh Brothers Group Limited
0.31
0.17
124.64%
SG:L19
Lum Chang Holdings Limited
0.52
0.25
92.88%
SG:MR7
Nordic Group Limited
0.48
0.15
46.34%
Tiong Woon Corporation Holding Ltd Corporate Events
Tiong Woon Lifts First-Half Earnings on Strong Heavy Lift and Marine Demand
Feb 13, 2026
Tiong Woon Corporation Holding Ltd reported a 14% rise in revenue to $89.7 million for the six months ended 31 December 2025, driven mainly by stronger contributions from its Heavy Lift and Haulage and Marine Transportation segments. Gross profit ...
Tiong Woon Corporation Announces Changes in Company Secretaries
Dec 1, 2025
Tiong Woon Corporation Holding Ltd has announced a change in its company secretaries, with Ms Lim Lan Sim Joanna resigning and Ms Ong Beng Hong and Ms Tan Swee Gek being appointed as joint company secretaries, effective from December 1, 2025. This...
Tiong Woon Corporation Conducts Annual General Meeting with Poll Voting
Nov 27, 2025
Tiong Woon Corporation Holding Ltd held its Annual General Meeting on October 28, 2025, at its headquarters in Singapore. The meeting, chaired by Mr. Ang Kah Hong, included a quorum and was conducted by Mr. Ang Guan Hwa. During the meeting, it was...
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.