mDR Limited (Y3D) AI Stock Analysis

• Market Cap: S$60.41M
• Dividend Yield: 4.1%
• Average Volume (3M): 659.92K
• Price to Earnings (P/E): 10.8
• Beta (1Y): 0.88
• Revenue Growth: -6.98%
• EPS Growth: N/A
• Country: SG
• Employees: 350
• Sector: Technology
• Sector Strength: 88
• Industry: Technology Distributors
• EPS (TTM): 0.00
• Shares Outstanding: 907,077,600
• 10 Day Avg. Volume: 214,570
• 30 Day Avg. Volume: 659,923
• PEG Ratio: -0.05
• Price to Book (P/B): 0.23
• Price to Sales (P/S): 0.15
• P/FCF Ratio: 3.05
• 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: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: S$0.07 ▲(13.33% Upside)

The score is primarily driven by mixed financial performance—strong balance sheet and stable/improving margins but weakening revenue growth and deteriorating free cash flow growth. Technicals are supportive with price above key moving averages and positive MACD, while valuation is favorable with a low P/E and solid dividend yield.

Positive Factors

Balance sheet strength

Low leverage and a strong equity base give mDR durable financial flexibility. This supports capital allocation to R&D, platform enhancements or selective M&A, while improving ROE indicates better use of shareholder capital—helping the company withstand cyclical shocks and fund strategic initiatives.

Margin stability

Stable gross margins and a slight net margin improvement point to persistent pricing power or cost control in core services. Margin resilience helps protect profitability during revenue softness, enabling continued investment in product development and preserving the ability to pay dividends or reinvest cash.

Diversified recurring revenue streams

Multiple revenue streams—subscriptions, maintenance contracts and consulting—create recurring cash flow and reduce reliance on one-time projects. Strategic partnerships with OEMs and dealers enhance distribution and cross-sell, improving revenue predictability and supporting longer-term cash generation.

Negative Factors

Declining revenue growth

Sustained revenue decline undermines scale economics and market momentum. Over time this can erode market share, pressure unit margins as pricing concessions increase, and limit the company’s ability to invest in product development or expand sales capacity without reversing the top-line trend.

Weak free cash flow growth and cash conversion

Material deterioration in free cash flow growth and weak OCF-to-net-income conversion signal lower quality earnings and constrained internal funding. This reduces capacity to finance capex, pay dividends, or pursue strategic M&A, increasing reliance on external funding during investment cycles.

Modest operating margins

Relatively modest EBIT/EBITDA margins limit the company’s ability to absorb cost inflation or invest aggressively in technology and sales. In a competitive tech-services market, thin operating profitability can weaken reinvestment capacity and make it harder to scale margins as revenue growth slows.

mDR Limited Business Overview & Revenue Model

Company Description

mDR Limited, an investment holding company, engages in the distribution and retail of telecommunication products and services in Singapore and Malaysia. It operates through four segments: After-Market Services (AMS); Distribution Management Solutions (DMS); Digital Inkjet Printing for Out-Of-Home Advertising Solutions (DPAS); and Investment. The company offers after-market services, such as equipment repair and technical services for mobile equipment and consumer electronic products; and digital inkjet printing services for point-of-sale and out-of-home advertising solutions. It also distributes and retails mobile telecommunication equipment and mobile related services, including prepaid cards; and invests in marketable securities, as well as provides loans. In addition, the company offers mobile devices, gadgets, and accessories. The company was incorporated in 2000 and is based in Singapore.

How the Company Makes Money

mDR Limited generates revenue through multiple streams, including digital marketing services, subscription fees for its technology platforms, and consulting services offered to automotive and retail businesses. The company partners with automotive manufacturers and dealers to provide tailored marketing and data analytics solutions, which help these businesses better understand customer behavior and improve operational efficiency. Additionally, mDR generates revenue from strategic partnerships that enhance its service offerings, as well as from ongoing maintenance and support contracts related to its technology solutions.

mDR Limited Financial Statement Overview

Summary

Financial results are mixed: profitability is moderate with slightly improved net margin and stable gross margin, and the balance sheet is solid with low leverage and improving ROE. Offsetting this, revenue growth is declining and free cash flow growth has fallen materially, with weak conversion of net income into operating cash flow.

Income Statement

mDR Limited shows a mixed performance in its income statement. The company has a declining revenue growth rate in the TTM period, indicating potential challenges in maintaining sales momentum. However, the gross profit margin remains relatively stable, and the net profit margin has improved slightly. The EBIT and EBITDA margins are modest, suggesting operational efficiency but with room for improvement.

Balance Sheet

The balance sheet of mDR Limited reflects a strong equity position with a low debt-to-equity ratio in the TTM period, indicating financial stability. The return on equity has improved, showing better utilization of shareholder funds. However, the equity ratio has decreased slightly, suggesting a need for careful management of assets and liabilities.

Cash Flow

Cash flow analysis reveals a significant decline in free cash flow growth in the TTM period, which could impact future investments and operations. The operating cash flow to net income ratio is low, indicating potential challenges in converting profits into cash. However, the free cash flow to net income ratio remains strong, suggesting efficient cash management relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	226.45M	232.03M	215.60M	175.48M	189.28M	193.60M
Gross Profit	38.86M	40.95M	32.56M	27.52M	24.93M	24.06M
EBITDA	13.18M	12.54M	-34.67M	15.72M	10.37M	5.17M
Net Income	5.60M	5.49M	-42.47M	7.26M	4.08M	-13.15M
Balance Sheet
Total Assets	222.74M	223.58M	177.68M	234.14M	224.31M	179.83M
Cash, Cash Equivalents and Short-Term Investments	26.40M	24.19M	27.56M	25.80M	46.34M	25.21M
Total Debt	3.85M	53.07M	57.08M	66.33M	47.77M	36.54M
Total Liabilities	99.05M	74.68M	80.58M	82.42M	66.38M	52.77M
Stockholders Equity	123.25M	148.43M	96.62M	151.23M	159.38M	128.49M
Cash Flow
Free Cash Flow	3.57M	11.12M	8.14M	4.36M	23.42M	26.30M
Operating Cash Flow	4.08M	11.70M	8.73M	4.89M	24.43M	26.67M
Investing Cash Flow	-16.79M	-32.87M	16.35M	-28.84M	-14.39M	12.49M
Financing Cash Flow	18.84M	20.99M	-22.94M	11.71M	2.65M	-33.97M

mDR Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.06
• 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:Y3D, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.06, and above the 200-day MA of 0.06, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 41.05 is Neutral, neither overbought nor oversold. The STOCH value of 35.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:Y3D.

mDR Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Y3D	69 Neutral	S$60.41M	10.78	5.07%	4.10%	-6.98%	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
BIX	54 Neutral	S$44.17M	33.97	2.00%	26.09%	4.89%	―
CYW	47 Neutral	S$4.90M	-11.03	-4.27%	―	5.95%	64.63%
S71	46 Neutral	S$31.32M	-5.38	-8.14%	―	-11.04%	-360.44%
5AB	42 Neutral	S$29.74M	52.78	1.45%	―	-12.41%	-71.88%

mDR Limited Corporate Events

mDR Expands Portfolio of Quoted Securities, Lifting Investment Exposure Above 215% of NTA

mDR Limited has disclosed that it acquired quoted securities worth approximately S$6.88 million between 15 and 26 January 2026, representing about 4.6% of the group’s latest audited net tangible assets, while disposing of quoted securities with a historical cost of about S$180,668, or 0.1% of net tangible assets, over the same period. Following these transactions, the aggregate cost of the group’s quoted investments rose to S$319.6 million, or 215.3% of its audited consolidated net tangible assets as at 31 December 2024, with the total market value of these investments increasing to S$236.9 million and no provisions made for diminution in value, underscoring the group’s continued heavy exposure to listed securities relative to its tangible asset base.

The most recent analyst rating on (SG:Y3D) stock is a Hold with a S$0.08 price target. To see the full list of analyst forecasts on mDR Limited stock, see the SG:Y3D Stock Forecast page.

mDR Limited Increases Exposure to Quoted Securities with S$2.6 Million Acquisition

mDR Limited has disclosed that between 30 December 2025 and 14 January 2026, the Group acquired quoted securities worth approximately S$2.59 million, representing about 1.8% of its latest audited net tangible assets, while disposing of quoted securities with a historical cost of about S$82,875, or 0.1% of net tangible assets. Following these transactions, the aggregate cost of the Group’s quoted investments rose marginally from S$311.5 million to S$311.7 million, increasing their proportion of the Group’s audited consolidated net tangible assets from 209.8% to 210.0%, with the total market value edging up to S$221.2 million and no provision made for diminution in value, underscoring the Group’s continued heavy exposure to and confidence in its quoted investment portfolio.

The most recent analyst rating on (SG:Y3D) stock is a Hold with a S$0.07 price target. To see the full list of analyst forecasts on mDR Limited stock, see the SG:Y3D Stock Forecast page.

mDR Expands Already Heavy Exposure to Quoted Securities With Fresh Acquisitions

mDR Limited has disclosed that it acquired quoted securities worth approximately S$6.23 million and sold quoted securities with a historical cost of about S$150,010 between 18 December 2025 and 29 December 2025, transactions that represent 4.2% and 0.1% respectively of its latest audited consolidated net tangible assets. Following these trades, the aggregate cost of the Group’s quoted investments increased from S$298.79 million to S$307.52 million, raising their proportion of net tangible assets from 201.3% to 207.2%, while the total market value of these investments rose modestly to S$220.28 million with no provisions recorded for diminution in value, highlighting the Group’s continued heavy reliance on and growing exposure to quoted securities within its capital structure.

The most recent analyst rating on (SG:Y3D) stock is a Hold with a S$0.06 price target. To see the full list of analyst forecasts on mDR Limited stock, see the SG:Y3D Stock Forecast page.

mDR boosts already sizeable portfolio of quoted securities with fresh acquisitions

mDR Limited has disclosed that it acquired quoted securities worth about S$11.0 million and disposed of quoted securities with a historical cost of approximately S$4.6 million over the period from 12 to 17 December 2025, equivalent to 7.4% and 3.1% respectively of its latest audited consolidated net tangible assets. Following these transactions, the aggregate cost of the Group’s quoted investments rose from S$291.2 million to S$297.0 million, increasing their proportion of net tangible assets from 196.2% to 200.1%, and lifting the total market value of these investments from S$209.6 million to S$214.8 million, highlighting the Group’s continued concentration in and reliance on listed securities as a key component of its asset base.

The most recent analyst rating on (SG:Y3D) stock is a Hold with a S$0.06 price target. To see the full list of analyst forecasts on mDR Limited stock, see the SG:Y3D Stock Forecast page.

mDR Limited Announces Strategic Securities Transactions

mDR Limited announced the acquisition of quoted securities valued at approximately S$19.2 million, which represents 12.9% of its latest audited net tangible assets. Additionally, the company sold quoted securities worth about S$4.3 million, equivalent to 2.9% of its net tangible assets. These transactions reflect mDR Limited’s active management of its investment portfolio, potentially impacting its financial standing and market positioning.

The most recent analyst rating on (SG:Y3D) stock is a Hold with a S$0.06 price target. To see the full list of analyst forecasts on mDR Limited stock, see the SG:Y3D Stock Forecast page.

mDR Limited Announces Strategic Securities Transactions

mDR Limited announced the acquisition of quoted securities valued at approximately S$13.7 million, representing 9.2% of its latest audited net tangible assets, and the sale of quoted securities worth approximately S$12 million, equivalent to 8.1% of its net tangible assets, between November 27 and December 2, 2025. These transactions reflect the company’s strategic financial management, potentially impacting its market positioning and stakeholder interests by adjusting its investment portfolio and asset allocation.

The most recent analyst rating on (SG:Y3D) stock is a Hold with a S$0.06 price target. To see the full list of analyst forecasts on mDR Limited stock, see the SG:Y3D Stock Forecast page.

mDR Limited Announces Significant Securities Transactions

mDR Limited, a company listed on the Singapore Exchange, has announced significant transactions involving quoted securities. The company acquired securities worth approximately S$9.48 million and sold securities valued at around S$2.77 million between October 14 and November 26, 2025. These transactions represent 6.4% and 1.9% of the company’s latest audited net tangible assets, respectively. The acquisitions and sales are part of the company’s ongoing investment strategy, reflecting its active management of investment portfolios to optimize asset value and enhance shareholder returns.

The most recent analyst rating on (SG:Y3D) stock is a Hold with a S$0.06 price target. To see the full list of analyst forecasts on mDR Limited stock, see the SG:Y3D Stock Forecast page.