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Combine Will International Holdings Limited
(SGX:N0Z)
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Rating:55Neutral
Price Target:
S$1.50
▲(19.05% Upside)
Action:Reiterated
Date:03/24/26
The score is held back primarily by deteriorating cash flow (negative operating and free cash flow) and increased leverage, with technicals also signaling weak momentum. These are partially offset by a low P/E and an attractive dividend yield.
Positive Factors
Revenue Growth Acceleration
Sustained revenue acceleration indicates improving demand or market share and creates a foundation for higher absolute profits over time. If the company maintains top-line momentum, it can better absorb cost pressures, support reinvestment, and provide runway to restore margins and cash generation.
Negative Factors
Cash Flow Deterioration
Material negative operating and free cash flow point to weakened cash generation and higher financing dependency. Over months this can force borrowing, asset sales, or dividend cuts, constraining strategic options and increasing liquidity and refinancing risk if not reversed.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Acceleration
Sustained revenue acceleration indicates improving demand or market share and creates a foundation for higher absolute profits over time. If the company maintains top-line momentum, it can better absorb cost pressures, support reinvestment, and provide runway to restore margins and cash generation.
Read all positive factors
Combine Will International Holdings Limited (N0Z) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$38.47M
Dividend Yield3.97%
Average Volume (3M)1.03K
Price to Earnings (P/E)8.7
Beta (1Y)-0.03
Revenue Growth20.48%
EPS Growth-20.60%
CountrySG
Employees18,000
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)1.16
Shares Outstanding32,327,400
10 Day Avg. Volume2,500
30 Day Avg. Volume1,030
Financial Highlights & Ratios
PEG Ratio-0.36
Price to Book (P/B)0.31
Price to Sales (P/S)0.13
P/FCF Ratio-1.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Combine Will International Holdings Limited Business Overview & Revenue Model
Company Description
As an investment holding company, Combine Will International Holdings Limited conducts global operations as an original design manufacturer (ODM), original equipment manufacturer (OEM), and a supplier of corporate promotional merchandise, toys, an...
Combine Will International Holdings Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.68B | 1.84B | 1.47B | 1.11B | 1.34B | 197.17M |
| Gross Profit | 166.40M | 191.44M | 153.80M | 128.45M | 24.33M | 15.67M |
| EBITDA | 169.59M | 174.80M | 175.58M | 178.12M | 159.30M | 125.83M |
| Net Income | 40.46M | 37.67M | 45.73M | 42.53M | 42.76M | 40.81M |
Balance Sheet | ||||||
| Total Assets | 1.76B | 1.92B | 1.61B | 1.43B | 265.08M | 286.31M |
| Cash, Cash Equivalents and Short-Term Investments | 203.27M | 151.71M | 202.06M | 248.71M | 252.99M | 195.54M |
| Total Debt | 594.70M | 632.53M | 433.87M | 352.37M | 387.78M | 459.08M |
| Total Liabilities | 992.43M | 1.12B | 861.65M | 684.87M | 141.33M | 157.62M |
| Stockholders Equity | 764.07M | 789.09M | 746.45M | 742.68M | 720.15M | 744.17M |
Cash Flow | ||||||
| Free Cash Flow | -154.47M | -217.79M | -51.94M | 42.26M | 33.08M | 17.05M |
| Operating Cash Flow | -30.60M | -76.28M | 58.52M | 135.27M | 50.18M | 42.45M |
| Investing Cash Flow | -163.26M | -136.67M | -153.63M | -88.47M | -91.45M | -142.82M |
| Financing Cash Flow | 180.42M | 162.58M | 73.27M | -51.38M | -87.11M | -63.50M |
Combine Will International Holdings Limited Technical Analysis
Negative
1.26
Price Trends
1.22
Negative
1.23
Negative
1.25
Negative
Market Momentum
>-0.01
Negative
24.80
Positive
0.54
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:N0Z, the sentiment is Negative. The current price of 1.26 is above the 20-day moving average (MA) of 1.19, above the 50-day MA of 1.22, and above the 200-day MA of 1.25, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 24.80 is Positive, neither overbought nor oversold. The STOCH value of 0.54 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:N0Z.
Combine Will International Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | S$1.69B | 9.46 | 17.57% | 2.60% | 15.08% | 32.76% | |
75 Outperform | S$111.32M | 8.88 | 9.26% | 1.99% | 35.15% | 42.72% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | S$38.47M | 8.69 | 5.36% | 3.97% | 20.48% | -20.60% | |
49 Neutral | S$328.29M | 19.86 | 3.43% | ― | 29.11% | 288.00% |
* Consumer Cyclical Sector Average
SG:N0Z
Combine Will International Holdings Limited
1.19
0.08
7.21%
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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.