Tuan Sing Holdings Limited (T24) AI Stock Analysis

• Market Cap: €362.52M
• Dividend Yield: 2.41%
• Average Volume (3M): 1.13M
• Price to Earnings (P/E): 152.6
• Beta (1Y): 1.06
• Revenue Growth: -36.61%
• EPS Growth: -52.50%
• Country: SG
• Employees: 777
• Sector: Real Estate
• Sector Strength: 64
• Industry: Real Estate - Diversified
• EPS (TTM): <0.01
• Shares Outstanding: 1,262,875,600
• 10 Day Avg. Volume: 1,991,170
• 30 Day Avg. Volume: 1,134,196
• PEG Ratio: 0.83
• Price to Book (P/B): 0.29
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.67
• 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: €0.49
• Price Target Upside: 70.34% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 61 Neutral
• Price Target: S$0.50 ▲(72.41%Upside)

The overall stock score reflects a mixed outlook for Tuan Sing Holdings Limited. The primary concerns are the company's high P/E ratio suggesting overvaluation and financial performance challenges, including declining revenues and profitability. However, technical analysis provides some optimism with positive price momentum. Investors should be cautious of the overvaluation risk while considering the stock's technical strength.

Tuan Sing Holdings Limited Business Overview & Revenue Model

Company Description

Tuan Sing Holdings Limited (T24) is a leading investment holding company based in Singapore, primarily engaged in the real estate and hospitality sectors. The company's core business activities include property development, property investment, and hotel ownership. Tuan Sing Holdings focuses on developing and managing high-quality residential, commercial, and industrial properties across Singapore and other strategic locations in Asia-Pacific, as well as owning and operating hotels to provide premium accommodation services.

How the Company Makes Money

Tuan Sing Holdings Limited generates revenue through three main streams: property development, property investment, and hotel operations. In property development, the company earns money by designing, constructing, and selling residential, commercial, and industrial properties. In property investment, Tuan Sing generates income through the leasing and management of its portfolio of commercial and industrial properties, earning rental income and benefiting from capital appreciation over time. The hotel operations segment contributes to revenue by providing accommodation and related services, with income derived from room bookings, food and beverage sales, and other hotel services. The company's strategic partnerships and investments in various real estate and hospitality ventures further support its earnings.

Tuan Sing Holdings Limited Financial Statement Overview

Summary

The company's financial performance is challenged by declining revenues and profit margins, increased leverage, and negative free cash flow. Despite a stable equity structure, the company faces difficulties in profitability and cash flow generation.

Income Statement

The company has experienced a decline in total revenue from 2023 to 2024, resulting in a negative revenue growth rate of -36.60%. Gross profit margin improved slightly to 39.60% in 2024, indicating good cost management. However, the net profit margin decreased to 1.22%, suggesting challenges in maintaining profitability. EBIT and EBITDA margins also decreased, indicating pressure on operational efficiency.

Balance Sheet

The debt-to-equity ratio increased slightly to 1.09, reflecting moderate leverage. Return on equity stands at 0.19%, indicating low profitability relative to shareholders' equity. The equity ratio is stable at 45.15%, suggesting a balanced capital structure with a good proportion of equity financing.

Cash Flow

Free cash flow turned negative in 2024, reflecting a significant decline in free cash flow growth rate. Operating cash flow remains positive, but the free cash flow to net income ratio is negative due to high capital expenditures. The operating cash flow to net income ratio of 33.84 indicates that the company can cover its net income with operating cash flow, though at a reduced level compared to prior years.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	192.52M	303.72M	225.30M	245.34M	196.82M
Gross Profit	76.23M	89.97M	86.86M	56.80M	48.58M
EBITDA	41.65M	71.77M	28.28M	109.22M	91.33M
Net Income	2.34M	4.84M	4.59M	83.66M	59.01M
Balance Sheet
Total Assets	2.70B	2.62B	2.66B	2.76B	3.14B
Cash, Cash Equivalents and Short-Term Investments	164.62M	211.53M	243.12M	376.60M	245.19M
Total Debt	1.32B	1.23B	1.28B	1.35B	1.47B
Total Liabilities	1.48B	1.39B	1.43B	1.50B	1.97B
Stockholders Equity	1.22B	1.23B	1.22B	1.25B	1.16B
Cash Flow
Free Cash Flow	-45.63M	136.43M	43.04M	73.05M	63.57M
Operating Cash Flow	79.31M	143.41M	54.91M	79.59M	69.13M
Investing Cash Flow	-180.06M	-53.30M	-78.24M	485.69M	67.05M
Financing Cash Flow	28.16M	-122.55M	-111.93M	-366.55M	-30.19M

Tuan Sing Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.29
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:T24, the sentiment is Positive. The current price of 0.29 is above the 20-day moving average (MA) of 0.27, above the 50-day MA of 0.26, and above the 200-day MA of 0.26, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 69.62 is Neutral, neither overbought nor oversold. The STOCH value of 72.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:T24.

Tuan Sing Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BTE	71 Outperform	S$314.89M	23.18	3.72%	3.37%	0.62%	22.60%
O10	66 Neutral	€613.67M	10.36	4.28%	3.20%	4.49%	-10.72%
Sector *	65 Neutral	$2.05B	16.90	2.45%	5.19%	-0.30%	1.21%
5IC	64 Neutral	S$158.39M	16.19	3.08%	2.53%	102.45%	22.61%
T24	61 Neutral	€362.52M	152.63	0.20%	2.41%	-36.61%	-52.50%
LJ3	58 Neutral	€789.49M	―	-8.35%	1.75%	3.76%	-480.94%
5UX	50 Neutral	€510.89M	―	-10.73%	―	-34.68%	-10.10%

Tuan Sing Holdings Limited Corporate Events

Tuan Sing Holdings Limited Conducts 55th Annual General Meeting

Tuan Sing Holdings Limited held its 55th Annual General Meeting on April 25, 2025, in Singapore. The meeting, chaired by Non-Executive Chairman and Independent Director Mr. Eu Yee Ming Richard, included the presence of the Board of Directors and key company executives. The AGM was conducted with a quorum present, and the company’s leadership, including Executive Director and CEO Mr. William Nursalim alias William Liem, was introduced to the attendees.