E28 Stock Analysis: FRENCKEN | SG
Scientific & Technical Instruments | SG, Singapore | Market Cap: 1.185m SGD | 12M Return: 65.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 13.4M
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Frencken Group Limited is a Singapore-headquartered investment holding company founded in 1999 that operates across Singapore, the Netherlands, China, and Malaysia. It delivers original design, original equipment, and integrated manufacturing solutions through two core segments: Mechatronics, which serves OEM customers in the medical, semiconductor, analytical, pharmaceutical, industrial/factory automation, and aerospace end-markets with precision-engineered systems, parts, and value-added services; and Integrated Manufacturing Services (IMS), which provides contract design and manufacturing for the automotive and office automation industries, including plastic injection moulding, tooling, surface finishes, automated assembly, and component sub-assemblies. The group also holds property and offers ancillary services such as vacuum coating, thermal treatment, and adhesive/thermal management products.
The business model is that of a diversified contract manufacturer serving multiple end-markets, which typically helps smooth cyclicality across the semiconductor, automotive, and industrial automation cycles. As an SGX-listed small-cap in the Information Technology sector (Electronic Components sub-industry), Frencken operates in a highly competitive global EMS/ODM landscape where peers range from large multinational manufacturers to specialised regional precision-engineering firms, with margin profiles often shaped by design value-add versus volume assembly work.
- Semiconductor equipment cycle lifts mechatronics precision engineering orders
- Automotive and office automation softness weighs on IMS segment margins
- US-China trade tensions expose manufacturing footprint to tariff risks
| Net Income: 39.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.20 > 0.02 and ΔFCF/TA 7.96 > 1.0 |
| NWC/Revenue: 38.03% < 20% (prev 36.37%; Δ 1.67% < -1%) |
| CFO/TA 0.23 > 3% & CFO 166.7m > Net Income 39.1m |
| Net Debt (-94.1m) to EBITDA (79.5m): -1.18 < 3 |
| Current Ratio: 2.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (427.1m) vs 12m ago 0.02% < -2% |
| Gross Margin: 14.26% > 18% (prev 14.52%; Δ -0.26% > 0.5%) |
| Asset Turnover: 117.3% > 50% (prev 108.1%; Δ 9.22% > 0%) |
| Interest Coverage Ratio: 8.97 > 6 (EBIT TTM 48.0m / Interest Expense TTM 5.35m) |
| A: 0.44 (Total Current Assets 524.3m - Total Current Liabilities 195.3m) / Total Assets 740.2m |
| B: 0.50 (Retained Earnings 367.1m / Total Assets 740.2m) |
| C: 0.07 (EBIT TTM 48.0m / Avg Total Assets 737.7m) |
| D: 1.82 (Book Value of Equity 475.3m / Total Liabilities 261.4m) |
| Altman-Z'' = 6.88 = AAA |
| DSRI: 0.93 (Receivables 138.9m/137.8m, Revenue 865.1m/794.3m) |
| GMI: 1.02 (GM 14.52% / 14.26%) |
| AQI: 1.06 (AQ_t 0.04 / AQ_t-1 0.04) |
| SGI: 1.09 (Revenue 865.1m / 794.3m) |
| TATA: -0.17 (NI 39.1m - CFO 166.7m) / TA 740.2m) |
| Beneish M = -2.99 (Cap -4..+1) = A |
As of July 29, 2026, the stock is trading at SGD 2.70 with a total of 3,073,700 shares traded. Over the past week, the price has changed by +1.50%, over one month by -8.47%, over three months by +3.71% and over the past year by +65.30%.
Current recommended Stop Loss: 2.40 (which is 11.1% or 2.1 ATR below the current price).
FRENCKEN has no consensus analysts rating.
P/E Trailing = 30.6667
P/E Forward = 25.974
P/S = 1.3697
P/B = 2.4028
P/EG = 2.1447
Revenue TTM = 865.1m SGD
EBIT TTM = 48.0m SGD
EBITDA TTM = 79.5m SGD
Long Term Debt = 585k SGD (from longTermDebt, last quarter)
Short Term Debt = 21.7m SGD (from shortLongTermDebt, last quarter)
Debt = 67.8m SGD (Leases only: 67.8m)
Net Debt = -94.1m SGD (calculated: Debt 67.8m - CCE 161.9m)
Enterprise Value = 1.09b SGD (1.18b + Debt 67.8m - CCE 161.9m)
Interest Coverage Ratio = 8.97 (Ebit TTM 48.0m / Interest Expense TTM 5.35m)
EV/FCF = 7.42x (Enterprise Value 1.09b / FCF TTM 147.0m)
FCF Yield = 13.48% (FCF TTM 147.0m / Enterprise Value 1.09b)
FCF Margin = 17.00% (FCF TTM 147.0m / Revenue TTM 865.1m)
Net Margin = 4.52% (Net Income TTM 39.1m / Revenue TTM 865.1m)
Gross Margin = 14.26% ((Revenue TTM 865.1m - Cost of Revenue TTM 741.8m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 1.47 (Enterprise Value 1.09b / Total Assets 740.2m)
Interest Expense / Debt = 7.90% (Interest Expense 5.35m / Debt 67.8m)
Taxrate = 20.41% (10.1m / 49.4m)
NOPAT = 38.2m (EBIT 48.0m * (1 - 20.41%))
Current Ratio = 2.68 (Total Current Assets 524.3m / Total Current Liabilities 195.3m)
Debt / Equity = 0.14 (Debt 67.8m / totalStockholderEquity, last quarter 475.3m)
Debt / EBITDA = -1.18 (Net Debt -94.1m / EBITDA 79.5m)
Debt / FCF = -0.64 (Net Debt -94.1m / FCF TTM 147.0m)
Total Stockholder Equity = 440.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 5.30% (Net Income 39.1m / Total Assets 740.2m)
RoE = 8.87% (Net Income TTM 39.1m / Total Stockholder Equity 440.9m)
RoCE = 10.87% (EBIT 48.0m / Capital Employed (Equity 440.9m + L.T.Debt 585k))
RoIC = 7.61% (NOPAT 38.2m / Invested Capital 501.7m)
WACC = 10.04% (E(1.18b)/V(1.25b) * Re(10.26%) + D(67.8m)/V(1.25b) * Rd(7.90%) * (1-Tc(0.20)))
Discount Rate = 10.26% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 67.05 | Cagr: 0.06%
[DCF] Terminal Value 72.69% ; FCFF base≈123.2m ; Y1≈141.3m ; Y5≈207.9m
[DCF] Fair Price = 5.83 (EV 2.41b - Net Debt -94.1m = Equity 2.50b / Shares 429.3m; r=10.04% [WACC]; 5y FCF grow 15.0% → 2.50% )
Revenue Correlation: 99.76 | Revenue CAGR: 7.92% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=0.10 | Chg30d=+0.00% | Revisions=-50% | GrowthEPS=+11.9% | GrowthRev=+5.1%
EPS next Year (2027-12-31): EPS=0.12 | Chg30d=+0.00% | Revisions=+17% | GrowthEPS=+15.5% | GrowthRev=+7.7%
[Analyst] Revisions Ratio: -22% (up=2, down=4)