Mermaid Maritime Public Co., Ltd. (DU4) AI Stock Analysis

• Market Cap: S$238.23M
• Dividend Yield: N/A
• Average Volume (3M): 1.79M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.97
• Revenue Growth: 17.29%
• EPS Growth: -132.85%
• Country: SG
• Employees: N/A
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): >-0.01
• Shares Outstanding: 1,890,743,200
• 10 Day Avg. Volume: 725,390
• 30 Day Avg. Volume: 1,788,296
• PEG Ratio: 0.23
• Price to Book (P/B): 0.74
• Price to Sales (P/S): 0.27
• P/FCF Ratio: -9.56
• 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

• Rating: 53 Neutral
• Price Target: S$0.00 ▼(-100.00% Downside)

Mermaid Maritime's overall stock score is primarily influenced by its strong revenue growth and stable balance sheet. However, significant challenges such as declining profit margins, negative free cash flow, and a negative P/E ratio weigh heavily on the score. Technical indicators suggest neutral market sentiment, adding to the cautious outlook.

Mermaid Maritime Public Co., Ltd. Business Overview & Revenue Model

Company Description

Mermaid Maritime Public Co., Ltd. (DU4) is a prominent provider of integrated offshore services, primarily focused on the oil and gas industry. Based in Thailand, the company specializes in marine operations, including offshore drilling, subsea engineering, and transportation services. With a diverse fleet of marine vessels and a skilled workforce, Mermaid Maritime is dedicated to delivering innovative solutions that enhance the efficiency and safety of offshore projects.

How the Company Makes Money

Mermaid Maritime generates revenue through multiple channels, primarily focusing on offshore support services and marine logistics. The company earns money by providing services such as drilling support, subsea engineering, and transportation for oil and gas exploration and production. Key revenue streams include day rates for the rental of marine vessels, contracts for offshore construction and maintenance services, and project management fees. Additionally, the company benefits from strategic partnerships with major oil and gas operators, which secure long-term contracts and provide a steady income stream. Economic factors such as oil prices and demand for offshore services also significantly influence their earnings.

Mermaid Maritime Public Co., Ltd. Financial Statement Overview

Summary

Income Statement

Balance Sheet

Cash Flow

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	496.89M	513.34M	275.40M	223.94M	111.59M
Gross Profit	18.49M	36.08M	30.67M	15.99M	-2.24M
EBITDA	35.10M	55.70M	41.88M	23.97M	1.50M
Net Income	-4.88M	13.78M	9.59M	-195.00K	-15.72M
Balance Sheet
Total Assets	407.58M	415.71M	356.58M	291.49M	258.63M
Cash, Cash Equivalents and Short-Term Investments	18.49M	22.94M	30.32M	7.80M	10.86M
Total Debt	120.39M	115.03M	102.82M	71.30M	51.90M
Total Liabilities	238.30M	230.91M	185.98M	130.55M	97.96M
Stockholders Equity	168.49M	184.09M	170.29M	160.69M	160.96M
Cash Flow
Free Cash Flow	10.02M	-14.24M	-1.16M	13.46M	-27.49M
Operating Cash Flow	36.57M	15.64M	9.96M	28.39M	-2.86M
Investing Cash Flow	-26.84M	-29.19M	-12.89M	-9.99M	-19.20M
Financing Cash Flow	-2.62M	6.85M	25.34M	-17.93M	-7.57M

Mermaid Maritime Public Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.12
• 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:DU4, the sentiment is Positive. The current price of 0.12 is below the 20-day moving average (MA) of 0.12, below the 50-day MA of 0.12, and above the 200-day MA of 0.12, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 58.88 is Neutral, neither overbought nor oversold. The STOCH value of 40.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:DU4.

Mermaid Maritime Public Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5NF	―	S$23.47M	8.62	8.43%	―	5.71%	―
Sector *	―	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
C9Q	―	S$127.68M	5.54	6.49%	―	-15.43%	-74.79%
DU4	―	S$238.23M	-28.00	-2.83%	―	17.29%	-132.85%

Mermaid Maritime Public Co., Ltd. Corporate Events

Mermaid Maritime Forms Joint Venture in Taiwan with ATE Energy

Mermaid Maritime Public Company Limited has announced the establishment of a joint venture in Taiwan named MERMATE Co., Ltd., with Mermaid Subsea Services holding a 49% stake and ATE Energy International Co., Ltd. holding 51%. This venture is aimed at enhancing their capabilities in energy technical services and offshore construction projects, leveraging ATE’s expertise in the energy engineering sector. The investment is funded internally and is not expected to significantly impact the company’s financials this year.

Mermaid Maritime Reports Q2 2025 Results

Mermaid Maritime Public Co., Ltd. announced their second quarter results for 2025, highlighting the company’s performance in the maritime industry. The results provide insights into the company’s operational efficiency and market positioning, although specific financial details are not disclosed in the release.

Mermaid Maritime Secures Major Subsea Service Contracts in the Middle East

Mermaid Maritime Public Company Limited has announced that its subsidiaries in the Middle East have secured multiple project awards valued between USD 430 to 500 million. These contracts, which include a range of subsea services, represent a significant growth opportunity for the company and reinforce its strategic position within the energy sector’s value chain. The projects are expected to positively impact Mermaid Group’s operations from 2025 onwards, contributing to sustained long-term growth and stability for stakeholders.

Mermaid Maritime Allocates Rights Issue Proceeds to Strengthen Operations

Mermaid Maritime Public Company Limited announced the use of proceeds from its recent Rights Issue, which raised approximately S$56.091 million after expenses. The company has allocated these funds towards general corporate and working capital requirements, including employee benefits, supplier repayments, and loan repayments to its parent company. This strategic allocation is expected to strengthen the company’s financial position and operational capabilities, potentially enhancing its competitiveness in the maritime services industry.