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Nordic Group Limited
(SGX:MR7)
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Rating:66Neutral
Price Target:
S$0.56
▲(4.07% Upside)
Action:Downgraded
Date:08/06/26
The score is driven primarily by solid financial quality—stronger margins, improved leverage, and a strong 2025 cash-flow rebound—offset by ongoing revenue contraction, which is the main fundamental risk. Technicals are currently a meaningful headwind given the below-average price trend and negative momentum, while valuation (moderate P/E and ~3.66% yield) provides some support.
Positive Factors
Improving margins
Nordic's clear margin improvement in 2025 indicates stronger pricing power or cost control, which supports earnings durability even with softer top-line. Higher gross and EBIT margins increase operating leverage, sustaining cash flow and reinvestment capacity over the medium term.
Negative Factors
Multi-year revenue decline
Sustained top-line contraction is the primary fundamental risk, signaling weaker demand or project timing. Continued revenue declines can erode operating scale, limit margin sustainability over time, and constrain reinvestment and organic growth prospects if not reversed.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving margins
Nordic's clear margin improvement in 2025 indicates stronger pricing power or cost control, which supports earnings durability even with softer top-line. Higher gross and EBIT margins increase operating leverage, sustaining cash flow and reinvestment capacity over the medium term.
Read all positive factors
Nordic Group Limited (MR7) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$215.19M
Dividend Yield3.43%
Average Volume (3M)142.57K
Price to Earnings (P/E)11.6
Beta (1Y)0.52
Revenue Growth-6.81%
EPS Growth20.60%
CountrySG
Employees189
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.05
Shares Outstanding400,000,000
10 Day Avg. Volume106,940
30 Day Avg. Volume142,570
Financial Highlights & Ratios
PEG Ratio1.08
Price to Book (P/B)1.25
Price to Sales (P/S)1.16
P/FCF Ratio6.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$0.68Price Target Upside25.93% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.06
Revenue Forecast (FY)S$160.13M
Nordic Group Limited Business Overview & Revenue Model
Company Description
Nordic Group Limited, an investment holding company established in Singapore in 1998, delivers a comprehensive suite of industrial solutions. These encompass system integration, maintenance, repair, and overhaul (MRO) services, alongside trading, ...
How the Company Makes Money
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Nordic Group Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 153.28M | 158.39M | 160.64M | 162.76M | 103.06M |
| Gross Profit | 40.47M | 36.67M | 36.41M | 45.75M | 27.51M |
| EBITDA | 29.62M | 29.88M | 28.31M | 31.77M | 19.06M |
| Net Income | 19.02M | 17.51M | 15.98M | 20.67M | 13.88M |
Balance Sheet | |||||
| Total Assets | 228.96M | 234.81M | 265.58M | 237.81M | 192.27M |
| Cash, Cash Equivalents and Short-Term Investments | 41.81M | 43.44M | 73.74M | 55.91M | 75.34M |
| Total Debt | 43.67M | 65.53M | 102.12M | 77.98M | 63.65M |
| Total Liabilities | 87.42M | 105.00M | 148.11M | 127.79M | 94.63M |
| Stockholders Equity | 141.55M | 129.80M | 117.47M | 110.02M | 97.64M |
Cash Flow | |||||
| Free Cash Flow | 28.48M | 13.98M | 10.18M | 34.12M | 9.20M |
| Operating Cash Flow | 29.51M | 15.98M | 11.29M | 35.00M | 9.92M |
| Investing Cash Flow | 510.00K | -3.09M | -5.20M | -52.54M | -575.00K |
| Financing Cash Flow | -30.30M | -46.65M | 14.96M | -4.46M | 8.07M |
Nordic Group Limited Technical Analysis
Positive
0.54
Price Trends
0.54
Positive
0.54
Positive
0.49
Positive
Market Momentum
<0.01
Negative
65.81
Neutral
79.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:MR7, the sentiment is Positive. The current price of 0.54 is above the 20-day moving average (MA) of 0.53, above the 50-day MA of 0.54, and above the 200-day MA of 0.49, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 65.81 is Neutral, neither overbought nor oversold. The STOCH value of 79.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:MR7.
Nordic Group Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | S$215.19M | 11.61 | 13.84% | 3.52% | -6.81% | 20.60% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | S$174.65M | 39.24 | 1.56% | 3.97% | -17.98% | ― | |
56 Neutral | S$148.51M | 8.71 | 5.90% | 3.81% | -28.51% | -325.38% |
* Industrials Sector Average
SG:MR7
Nordic Group Limited
0.56
0.18
48.00%
SG:ER0
KSH Holdings Limited
0.31
0.01
3.68%
SG:5CF
OKP Holdings Limited
0.75
0.18
32.56%
SG:BFI
Tiong Seng Holdings Limited
0.07
-0.01
-14.12%
SG:J2T
Hock Lian Seng Holdings Limited
0.29
-0.10
-26.21%
SG:K75
Koh Brothers Group Limited
0.27
>-0.01
-2.88%
Nordic Group Limited Corporate Events
Nordic Group Lifts Profit, Builds Order Book on Recurring Maintenance and Marine Pipeline
May 21, 2026
Nordic Group reported stable first-quarter 2026 revenue of S$41.8 million, marginally higher year-on-year, while net profit rose 11.1% to S$5.0 million as operating and net margins improved. Earnings growth lifted net asset value per share to 36.9...
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.