KSH Holdings Limited (SG:ER0)
SGX:ER0
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KSH Holdings Limited
(SGX:ER0)
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Rating:58Neutral
Price Target:
S$0.37
▲(2.50% Upside)
Action:Reiterated
Date:05/29/26
The score is driven primarily by improving financial quality (earnings recovery, stronger recent cash flow, and materially lower leverage), partly offset by persistent revenue decline and an extremely high P/E multiple. Technical indicators are broadly neutral, providing limited additional support.
Positive Factors
Improved Cash Generation
Strengthened operating and free cash flow in 2025–2026 indicates improved cash conversion and liquidity. Sustained positive cash generation supports working capital, debt repayment, dividends and competitive bidding capacity in construction. Historical volatility still warrants monitoring.
Negative Factors
Multi-year Revenue Decline
A persistent top-line contraction over several years weakens scale, reduces operating leverage and undermines backlog visibility. Without renewed contract wins or project pipelines, sustaining margins and earnings growth is difficult in a project-driven construction model.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Cash Generation
Strengthened operating and free cash flow in 2025–2026 indicates improved cash conversion and liquidity. Sustained positive cash generation supports working capital, debt repayment, dividends and competitive bidding capacity in construction. Historical volatility still warrants monitoring.
Read all positive factors
KSH Holdings Limited (ER0) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$183.10M
Dividend Yield3.47%
Average Volume (3M)1.74M
Price to Earnings (P/E)325.0
Beta (1Y)0.54
Revenue Growth-17.98%
EPS GrowthN/A
CountrySG
Employees543
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-0.02
Shares Outstanding569,735,660
10 Day Avg. Volume2,162,490
30 Day Avg. Volume1,736,596
Financial Highlights & Ratios
PEG Ratio-0.13
Price to Book (P/B)0.66
Price to Sales (P/S)1.27
P/FCF Ratio5.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$0.50Price Target Upside38.89% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
KSH Holdings Limited Business Overview & Revenue Model
Company Description
KSH Holdings Limited functions as an investment holding enterprise, engaging as a construction contractor and builder for both public and private sector clients. Its core activities are divided into construction, and property development and inves...
How the Company Makes Money
KSH Holdings Limited generates revenue mainly from (1) its construction segment and (2) its property-related activities. In construction, the company earns income by undertaking building and civil engineering projects as a contractor; revenue is r...
KSH Holdings Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
70
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 196.70M | 149.90M | 182.76M | 214.07M | 297.99M | 240.32M |
| Gross Profit | 33.04M | 19.70M | 19.10M | -16.48M | 19.92M | 15.98M |
| EBITDA | 10.91M | 8.82M | -2.06M | -28.52M | 10.94M | 715.00K |
| Net Income | -5.94M | 6.83M | -5.94M | -31.04M | 22.11M | 24.16M |
Balance Sheet | ||||||
| Total Assets | 513.66M | 545.49M | 513.66M | 577.41M | 709.17M | 622.61M |
| Cash, Cash Equivalents and Short-Term Investments | 127.63M | 152.98M | 127.63M | 93.15M | 80.50M | 94.15M |
| Total Debt | 70.06M | 109.14M | 70.06M | 151.92M | 209.80M | 124.52M |
| Total Liabilities | 215.77M | 239.58M | 215.77M | 259.96M | 345.44M | 262.38M |
| Stockholders Equity | 278.05M | 287.24M | 278.05M | 293.83M | 338.16M | 336.32M |
Cash Flow | ||||||
| Free Cash Flow | 27.92M | 33.86M | 27.92M | -14.43M | -38.80M | 45.49M |
| Operating Cash Flow | 29.04M | 34.32M | 29.04M | -14.31M | -38.16M | 45.91M |
| Investing Cash Flow | 40.73M | -52.76M | 40.73M | 99.18M | -52.20M | 16.54M |
| Financing Cash Flow | -76.75M | 40.42M | -76.75M | -63.55M | 68.32M | -37.49M |
KSH Holdings Limited Technical Analysis
Negative
0.36
Price Trends
0.35
Negative
0.35
Negative
0.36
Negative
Market Momentum
>-0.01
Positive
32.59
Neutral
12.22
Positive
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 0.36 is above the 20-day moving average (MA) of 0.35, above the 50-day MA of 0.35, and below the 200-day MA of 0.36, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 32.59 is Neutral, neither overbought nor oversold. The STOCH value of 12.22 is Positive, 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
UnderperformOutperform
Sector (63)
SG:ER0
KSH Holdings Limited
0.32
0.08
35.59%
SG:5TT
Keong Hong Holdings Limited
0.13
0.02
17.86%
SG:BFI
Tiong Seng Holdings Limited
0.10
0.02
21.95%
SG:J2T
Hock Lian Seng Holdings Limited
0.37
-0.01
-3.39%
SG:K75
Koh Brothers Group Limited
0.37
0.19
105.56%
SG:L19
Lum Chang Holdings Limited
0.52
0.20
61.95%
KSH Holdings Limited Corporate Events
KSH Holdings Boosts Order Book to S$1 Billion with New Contract Win
Mar 12, 2026
KSH Holdings’ wholly owned unit Kim Seng Heng Engineering Construction has secured a new construction project in Singapore worth more than S$32 million, reinforcing the group’s presence in the local construction sector. With this lates...
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.