Frencken Group Limited (SG:E28)
SGX:E28
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Frencken Group Limited
(SGX:E28)
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Rating:74Outperform
Price Target:
S$3.00
▲(18.58% Upside)
Action:ReiteratedDate:03/26/26
The score is driven primarily by solid financial performance (re-accelerating revenue, conservative leverage, and strong 2025 cash flow), supported by positive technical momentum. The main offsets are margin compression versus earlier years and only moderate valuation support (P/E ~15 and ~1.2% yield).
Positive Factors
Revenue re-acceleration
Revenue re-acceleration into 2025 and a sharp step-up across 2023–2025 indicate improving demand and successful program ramps. For a contract manufacturer, sustained volume ramps from OEM programs translate into multi-year revenue visibility, higher factory utilization and steadier cash generation.
Negative Factors
Margin compression
Material compression in net and operating margins versus earlier years reduces the profit buffer on contract manufacturing. Lower margins make earnings more sensitive to cost inflation, pricing pressure from OEMs and competitive tendering, weakening long-term cash conversion if structural.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue re-acceleration
Revenue re-acceleration into 2025 and a sharp step-up across 2023–2025 indicate improving demand and successful program ramps. For a contract manufacturer, sustained volume ramps from OEM programs translate into multi-year revenue visibility, higher factory utilization and steadier cash generation.
Read all positive factors
Frencken Group Limited (E28) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.15B
Dividend Yield1.88%
Average Volume (3M)4.69M
Price to Earnings (P/E)15.1
Beta (1Y)1.31
Revenue Growth8.91%
EPS Growth5.41%
CountrySG
Employees3,600
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)0.04
Shares Outstanding427,987,400
10 Day Avg. Volume4,936,130
30 Day Avg. Volume4,692,093
Financial Highlights & Ratios
PEG Ratio2.79
Price to Book (P/B)1.24
Price to Sales (P/S)0.68
P/FCF Ratio6.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$2.78Price Target Upside10.01% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.1
Revenue Forecast (FY)S$909.84M
Frencken Group Limited Business Overview & Revenue Model
Company Description
Frencken Group Limited, an investment holding company, provides original design, original equipment, and diversified integrated manufacturing solutions worldwide. It operates in two segments, Mechatronics and Integrated Manufacturing Services (IMS...
How the Company Makes Money
Frencken makes money primarily by providing contract manufacturing and related engineering services to original equipment manufacturers (OEMs). Its core revenue model is business-to-business: customers outsource the design, industrialization, and/...
Frencken Group Limited Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
74
Positive
Cash Flow
79
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 852.99M | 865.12M | 794.33M | 742.86M | 786.11M | 767.07M |
| Gross Profit | 120.95M | 123.35M | 115.34M | 98.00M | 118.98M | 128.91M |
| EBITDA | 67.66M | 79.68M | 83.44M | 77.66M | 95.32M | 96.19M |
| Net Income | 38.92M | 39.12M | 37.12M | 32.48M | 51.87M | 58.73M |
Balance Sheet | ||||||
| Total Assets | 722.38M | 740.24M | 735.14M | 735.29M | 725.21M | 688.14M |
| Cash, Cash Equivalents and Short-Term Investments | 148.49M | 161.88M | 159.20M | 142.63M | 166.99M | 192.60M |
| Total Debt | 130.40M | 90.02M | 133.55M | 142.03M | 150.45M | 119.44M |
| Total Liabilities | 275.07M | 261.38M | 297.64M | 330.01M | 328.79M | 309.12M |
| Stockholders Equity | 443.83M | 475.29M | 433.96M | 401.25M | 391.89M | 376.16M |
Cash Flow | ||||||
| Free Cash Flow | 47.65M | 86.92M | 34.95M | 22.08M | -4.77M | 22.87M |
| Operating Cash Flow | 61.50M | 104.82M | 48.05M | 48.96M | 37.83M | 40.37M |
| Investing Cash Flow | -11.84M | -17.83M | -11.12M | -27.30M | -44.48M | -28.84M |
| Financing Cash Flow | -18.92M | -42.60M | -15.57M | -35.85M | -30.43M | -9.21M |
Frencken Group Limited Technical Analysis
Positive
2.53
Price Trends
2.05
Positive
1.76
Positive
1.62
Positive
Market Momentum
0.13
Negative
73.71
Negative
85.62
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:E28, the sentiment is Positive. The current price of 2.53 is above the 20-day moving average (MA) of 2.21, above the 50-day MA of 2.05, and above the 200-day MA of 1.62, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 73.71 is Negative, neither overbought nor oversold. The STOCH value of 85.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:E28.
Frencken Group Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | S$464.37M | 21.05 | 26.24% | 3.73% | 11.38% | 22.41% | |
74 Outperform | S$1.15B | 15.07 | 6.55% | 1.88% | 8.91% | 5.41% | |
71 Outperform | S$440.55M | ― | 11.96% | 5.24% | 2.18% | 1.56% | |
71 Outperform | S$794.95M | 12.58 | 12.85% | 17.05% | -30.42% | -43.04% | |
68 Neutral | S$2.34B | 31.84 | 3.48% | ― | 4.98% | 47.27% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | S$987.05M | 18.74 | 12.87% | 2.41% | 12.51% | 33.59% |
* Technology Sector Average
SG:E28
Frencken Group Limited
2.68
1.68
168.27%
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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.