KSH Holdings Limited (ER0) AI Stock Analysis

• Market Cap: S$191.55M
• Dividend Yield: 3.68%
• Average Volume (3M): 1.74M
• Price to Earnings (P/E): 33.3
• Beta (1Y): 0.42
• Revenue Growth: 62.31%
• EPS Growth: N/A
• Country: SG
• Employees: N/A
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): <0.01
• Shares Outstanding: 569,735,660
• 10 Day Avg. Volume: 2,162,490
• 30 Day Avg. Volume: 1,736,596
• PEG Ratio: 0.25
• Price to Book (P/B): 0.43
• Price to Sales (P/S): 0.65
• P/FCF Ratio: 4.24
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: S$0.50 ▲(47.06% Upside)

The overall stock score is primarily influenced by the company's mixed financial performance and bearish technical indicators. While there is strong cash flow generation, profitability issues and negative market momentum weigh heavily on the score. The valuation suggests potential overvaluation, but the dividend yield offers some investor appeal.

Positive Factors

Joint Venture in Real Estate

The joint venture expands KSH Holdings' footprint in the real estate sector, potentially enhancing its market position and long-term growth prospects.

Improved Cash Flow

Improved cash flow indicates effective cash management and enhances financial flexibility, supporting sustainable operations and future investments.

Expanded Order Book

An expanded order book signifies a strong pipeline of projects, providing revenue visibility and supporting long-term financial performance.

Negative Factors

Profitability Challenges

Negative profitability metrics indicate challenges in maintaining margins, which could impact long-term financial stability and shareholder returns.

Inconsistent Revenue Growth

Inconsistent revenue growth reflects volatility in business performance, which may hinder strategic planning and long-term growth objectives.

Negative Return on Equity

A negative return on equity suggests inefficiencies in generating profits from shareholders' equity, potentially affecting investor confidence and capital raising.

KSH Holdings Limited Business Overview & Revenue Model

Company Description

KSH Holdings Limited (ER0) is a Singapore-based investment holding company with a diversified portfolio primarily focused on the construction and property development sectors. The company operates across several business segments, including civil engineering, building construction, and property management, offering a range of services that encompass project management, design, and execution. KSH Holdings is known for its commitment to quality and innovation, making it a key player in Singapore's infrastructure development and real estate markets.

How the Company Makes Money

KSH Holdings Limited generates revenue through multiple streams, primarily from its core construction and property development activities. The company earns money by securing contracts for civil engineering and building projects, which often involve public sector works, private developments, and commercial projects. Revenue is generated based on project milestones, with payments received at various stages of construction. Additionally, KSH Holdings benefits from property sales and leasing income from its developed properties. The company may also enhance its earnings through strategic partnerships with other construction firms, joint ventures in property development, and collaborations with government agencies, which can provide access to larger projects and stable revenue sources.

KSH Holdings Limited Financial Statement Overview

Summary

KSH Holdings Limited is experiencing mixed financial performance. While there is a positive trend in revenue growth and strong free cash flow generation, profitability remains a significant concern with negative margins. The balance sheet shows reduced leverage, but the company needs to enhance profitability.

Income Statement

KSH Holdings Limited has shown inconsistent revenue growth with a recent positive trend of 12.02% after a significant decline in the previous year. However, profitability metrics such as net profit margin and EBIT margin are negative, indicating challenges in maintaining profitability. The gross profit margin has improved but remains modest at 10.45%.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.25, indicating a reduction in leverage, which is a positive sign. However, the return on equity is negative, reflecting challenges in generating profits from shareholders' equity. The equity ratio is stable, suggesting a balanced asset structure.

Cash Flow

KSH Holdings has demonstrated strong free cash flow growth of 258.45%, indicating improved cash generation capabilities. The operating cash flow to net income ratio is positive, suggesting effective cash management. However, the free cash flow to net income ratio is close to 1, indicating limited cash flow relative to net income.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	196.70M	182.76M	214.07M	297.99M	240.32M	153.09M
Gross Profit	33.04M	19.10M	-16.48M	19.92M	15.98M	3.90M
EBITDA	10.91M	-2.06M	-28.52M	10.94M	715.00K	-211.00K
Net Income	-5.94M	-5.94M	-31.04M	22.11M	24.16M	-3.79M
Balance Sheet
Total Assets	513.66M	513.66M	577.41M	709.17M	622.61M	603.69M
Cash, Cash Equivalents and Short-Term Investments	127.63M	127.63M	93.15M	80.50M	94.15M	69.03M
Total Debt	70.06M	70.06M	151.92M	209.80M	124.52M	148.50M
Total Liabilities	215.77M	215.77M	259.96M	345.44M	262.38M	260.14M
Stockholders Equity	278.05M	278.05M	293.83M	338.16M	336.32M	320.36M
Cash Flow
Free Cash Flow	27.92M	27.92M	-14.43M	-38.80M	45.49M	18.61M
Operating Cash Flow	29.04M	29.04M	-14.31M	-38.16M	45.91M	20.07M
Investing Cash Flow	40.73M	40.73M	99.18M	-52.20M	16.54M	-10.27M
Financing Cash Flow	-76.75M	-76.75M	-63.55M	68.32M	-37.49M	-6.92M

KSH Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.34
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:ER0, the sentiment is Negative. The current price of 0.34 is below the 20-day moving average (MA) of 0.35, below the 50-day MA of 0.38, and above the 200-day MA of 0.30, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 36.29 is Neutral, neither overbought nor oversold. The STOCH value of 40.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:ER0.

KSH Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BQM	75 Outperform	S$179.98M	9.35	6.08%	2.26%	14.25%	5.61%
E3B	66 Neutral	S$675.65M	25.34	4.06%	11.29%	5.49%	-86.00%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
C06	51 Neutral	S$53.52M	75.00	1.01%	2.33%	20.81%	―
ER0	50 Neutral	S$191.55M	33.33	2.01%	3.68%	62.31%	―

KSH Holdings Limited Corporate Events

KSH Holdings Expands Construction Order Book to Over S$500 Million

KSH Holdings Limited has announced that its subsidiary, Kim Seng Heng Engineering Construction, has accepted a new construction project, boosting the company’s order book in Singapore to over S$500 million. This expansion is expected to positively impact the company’s financial results up to the fiscal year ending March 2029, indicating a strong market position and potential growth for stakeholders.

KSH Holdings Enters Joint Venture to Boost Real Estate Development

KSH Holdings Limited has announced a joint venture agreement through its subsidiary, KSH Blazar Pte. Ltd., with several partners to form Thomson Gem Pte. Ltd., a real estate development company. This strategic move involves KSHB acquiring a significant share in the joint venture, highlighting the company’s commitment to expanding its footprint in the real estate sector and potentially enhancing its market position.

KSH Holdings Utilizes Funds from Treasury Share Placement

KSH Holdings Limited has successfully completed the placement of 28,900,400 treasury shares, raising net proceeds of S$8,670,120. These funds have been fully utilized for general working capital, specifically for payments to subcontractors and suppliers, aligning with the company’s strategic financial plans.