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Tuas Ltd. (AU:TUA)
ASX:TUA
Australian Market
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Tuas Ltd. (TUA) AI Stock Analysis

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AU:TUA

Tuas Ltd.

(Sydney:TUA)

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Neutral 65 (OpenAI - 4o)
Rating:65Neutral
Price Target:
AU$7.50
▲(12.44% Upside)
Tuas Ltd.'s stock score is primarily driven by strong technical momentum and a solid financial foundation. However, the extremely high P/E ratio and lack of profitability are significant concerns. The overbought technical indicators suggest caution in the short term.
Positive Factors
Revenue Growth
Strong revenue growth indicates robust demand for Tuas Ltd.'s services and products, supporting long-term business expansion and market penetration.
Acquisition of M1
The acquisition of M1 is expected to enhance Tuas's market position, operational capabilities, and service offerings, providing strategic growth opportunities.
Cash Flow Management
Efficient cash flow management ensures Tuas Ltd. can sustain operations, invest in growth opportunities, and maintain financial stability over the long term.
Negative Factors
Profitability Challenges
Ongoing profitability issues could hinder Tuas Ltd.'s ability to reinvest in growth and may impact long-term financial health if not addressed.
Negative Return on Equity
Negative return on equity indicates inefficiency in generating profits from shareholders' equity, which could affect investor confidence and capital raising.
Director Resignation
The resignation of a significant director could impact strategic direction and stakeholder confidence, affecting governance and decision-making processes.

Tuas Ltd. (TUA) vs. iShares MSCI Australia ETF (EWA)

Tuas Ltd. Business Overview & Revenue Model

Company DescriptionTuas Limited develops a mobile network in Singapore. It also offers mobile telecommunications services, including data, voice, SMS, roaming, and other services. The company was incorporated in 2020 and is based in Sydney, Australia.
How the Company Makes MoneyTuas Ltd. generates revenue through multiple streams, primarily by offering subscription-based services for its cloud solutions and enterprise software, which provide recurring income. Additionally, the company earns revenue from its telecommunications services, including broadband and data plans, catering to both residential and commercial clients. Strategic partnerships with major technology providers enhance its service offerings, allowing for upselling and cross-selling opportunities. The company also benefits from government contracts and grants aimed at improving national digital infrastructure, further contributing to its overall earnings.

Tuas Ltd. Earnings Call Summary

Earnings Call Date:Sep 23, 2025
(Q4-2025)
|
% Change Since: |
Next Earnings Date:Mar 19, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant revenue and subscriber growth, improvement in profitability, and strategic moves such as the acquisition of M1 Limited. However, concerns were raised regarding declining gross margins, slower broadband subscriber growth in the second half, and ARPU challenges.
Q4-2025 Updates
Positive Updates
Significant Revenue Growth
Revenue for FY '25 increased to $151.3 million from $117.1 million in FY '24, marking a 29% increase.
EBITDA and Profit Milestones
EBITDA increased by 8% to $68.4 million, and net profit after tax reached $6.9 million, a significant improvement from the previous year's loss of $4.4 million.
Subscriber Base Expansion
Mobile subscribers grew by 19% to approximately 1.254 million, and broadband subscribers increased by 22,000 to 25,600.
Positive Cash Flow
Net cash generated from operating activities was $81.2 million with an ending cash balance of $80.7 million after significant CapEx investments.
Strategic Acquisition of M1 Limited
Tuas announced the proposed acquisition of M1 Limited for SGD 1.43 billion, aiming to enhance market position and synergies.
Negative Updates
Gross Margin Decline
Gross margin decreased in the second half compared to the first half, raising concerns about cost control.
Decline in Broadband Subscriber Growth Rate
Broadband subscriber additions slowed down in the second half compared to the first half.
ARPU Challenges
ARPU saw a decline in the second half despite a strong value proposition, indicating pricing and competitive pressures.
Company Guidance
During the call, Tuas Limited provided comprehensive guidance for the fiscal year 2025, highlighting significant financial improvements and strategic initiatives. The company reported a 29% increase in revenue, reaching SGD 151.3 million compared to the previous year, and an 8% rise in EBITDA to SGD 68.4 million. Notably, Tuas achieved a net profit after tax of SGD 6.9 million, marking a turnaround from a prior year's loss of SGD 4.4 million. The EBITDA margin improved to 45% of revenue, supported by a 19% increase in mobile subscribers, totaling approximately 1.254 million. The company also expanded its broadband services, adding 22,000 subscribers to reach 25,600 active services. Tuas announced a proposed acquisition of M1 Limited for SGD 1.43 billion, funded by existing cash reserves, equity raise, and acquisition debt financing. Looking forward, Tuas projected a standalone CapEx of SGD 50-55 million, focusing on margin optimization and disciplined cash management while continuing to grow its mobile and broadband segments.

Tuas Ltd. Financial Statement Overview

Summary
Tuas Ltd. shows strong revenue growth and a solid balance sheet with low leverage. However, profitability challenges persist, with negative net income and EBIT margins. The positive cash flow trend is encouraging, but sustained profitability improvements are necessary.
Income Statement
65
Positive
Tuas Ltd. has shown significant revenue growth over the years, with a notable increase from 2023 to 2024. The gross profit margin is strong at approximately 69.5% for 2024, indicating efficient cost management. However, the company continues to face challenges with profitability, as evidenced by negative EBIT and net income margins. Despite improvements, the net profit margin remains negative, highlighting ongoing operational challenges.
Balance Sheet
70
Positive
The balance sheet of Tuas Ltd. is robust with a strong equity base and minimal debt, resulting in a low debt-to-equity ratio. The equity ratio is high, indicating a solid capital structure. However, the company has experienced fluctuations in stockholders' equity over the years. The return on equity remains negative due to consistent net losses, which is a concern for long-term profitability.
Cash Flow
75
Positive
Tuas Ltd. has demonstrated strong cash flow management with positive operating cash flow and a significant improvement in free cash flow from negative to positive in 2024. The operating cash flow to net income ratio is favorable, indicating efficient cash generation relative to net income. However, the company needs to sustain this positive trend to ensure financial stability.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue135.51M117.06M86.10M57.43M30.90M5.10M
Gross Profit81.92M81.31M56.88M35.15M9.96M-4.08M
EBITDA60.42M49.74M31.42M15.54M2.25M-8.84M
Net Income2.14M-4.37M-15.30M-26.73M-20.87M-15.53M
Balance Sheet
Total Assets493.42M476.59M468.21M476.12M493.98M431.47M
Cash, Cash Equivalents and Short-Term Investments73.11M55.33M44.00M49.55M94.58M55.21M
Total Debt1.20M1.49M2.00M2.52M2.90M60.46K
Total Liabilities52.34M39.05M27.98M22.33M15.23M13.51M
Stockholders Equity441.08M437.54M440.23M453.79M478.75M417.96M
Cash Flow
Free Cash Flow29.22M14.18M-4.61M-44.49M-25.41M-96.08M
Operating Cash Flow74.31M59.99M39.97M22.57M-3.90M-4.27M
Investing Cash Flow-59.27M-48.21M-46.56M-66.46M1.08M-92.97M
Financing Cash Flow-601.00K-587.00K-582.00K-544.00K18.28M151.59M

Tuas Ltd. Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price6.67
Price Trends
50DMA
7.25
Negative
100DMA
6.43
Positive
200DMA
6.23
Positive
Market Momentum
MACD
-0.14
Positive
RSI
34.37
Neutral
STOCH
34.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:TUA, the sentiment is Neutral. The current price of 6.67 is below the 20-day moving average (MA) of 7.16, below the 50-day MA of 7.25, and above the 200-day MA of 6.23, indicating a neutral trend. The MACD of -0.14 indicates Positive momentum. The RSI at 34.37 is Neutral, neither overbought nor oversold. The STOCH value of 34.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:TUA.

Tuas Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
69
Neutral
AU$1.69B52.465.89%1.11%18.74%14.89%
65
Neutral
AU$3.82B401.721.57%34.09%
62
Neutral
€1.58B1,716.670.21%31.16%
61
Neutral
$54.95B25.7214.73%3.93%0.86%34.33%
61
Neutral
AU$1.75B50.117.40%1.75%0.42%
60
Neutral
$48.67B4.58-11.27%4.14%2.83%-41.78%
52
Neutral
$10.04B276.54-0.93%3.42%-5.04%-349.38%
* Communication Services Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:TUA
Tuas Ltd.
6.67
1.05
18.68%
AU:TPG
TPG Telecom Limited
5.26
0.56
12.01%
AU:TLS
Telstra Corporation Limited
4.83
1.10
29.56%
AU:SLC
Superloop Ltd.
3.05
1.22
66.67%
AU:MAQ
Macquarie Telecom Group Limited
65.23
-20.22
-23.66%
AU:ABB
Aussie Broadband Ltd.
5.78
1.93
50.13%

Tuas Ltd. Corporate Events

Tuas Limited Updates Placement Share Price
Aug 12, 2025

Tuas Limited has announced an update regarding the proposed issue of securities, specifically a placement of shares. The price for the Placement Shares has been revised to AUD5.51 from the initially announced AUD5.24, following the outcome of the bookbuild process. This adjustment reflects the company’s strategic financial decisions and may influence its market positioning and stakeholder perceptions.

The most recent analyst rating on (AU:TUA) stock is a Buy with a A$7.00 price target. To see the full list of analyst forecasts on Tuas Ltd. stock, see the AU:TUA Stock Forecast page.

Tuas Limited Completes A$385 Million Institutional Placement and Resumes Trading
Aug 12, 2025

Tuas Limited has successfully completed an institutional placement, raising A$385 million at $5.51 per share to fund its acquisition of M1. The placement was well-received, with no discount to the last close price, indicating strong investor support. Approximately 69.9 million new shares will be issued, increasing the total shares to about 536 million. Additionally, Tuas plans to offer a share purchase plan to existing shareholders to raise an additional A$50 million. Trading, which was halted pending this announcement, is set to resume following the successful placement.

The most recent analyst rating on (AU:TUA) stock is a Buy with a A$7.00 price target. To see the full list of analyst forecasts on Tuas Ltd. stock, see the AU:TUA Stock Forecast page.

Tuas Limited Announces Proposed Securities Issue
Aug 11, 2025

Tuas Limited has announced a proposed issue of securities, which includes an offer under a securities purchase plan and a placement. The company plans to issue a maximum of 9,541,984 ordinary fully paid securities under the purchase plan and 69,903,780 under the placement. This move is likely aimed at raising capital to support its operations or strategic initiatives, potentially impacting its market positioning and offering opportunities for stakeholders.

The most recent analyst rating on (AU:TUA) stock is a Buy with a A$7.00 price target. To see the full list of analyst forecasts on Tuas Ltd. stock, see the AU:TUA Stock Forecast page.

Tuas Limited Announces Acquisition of M1 and Equity Raising
Aug 11, 2025

Tuas Limited announced its proposed acquisition of M1 Limited, excluding its information and communications technology businesses, through its subsidiary Simba Telecom Pte Ltd. This acquisition is accompanied by an equity raising initiative, which includes a non-underwritten placement of new shares to institutional investors and a share purchase plan for eligible shareholders in Australia and New Zealand. This strategic move is expected to enhance Tuas’s market positioning and operational capabilities, potentially impacting stakeholders positively by expanding its service offerings and market reach.

The most recent analyst rating on (AU:TUA) stock is a Buy with a A$7.00 price target. To see the full list of analyst forecasts on Tuas Ltd. stock, see the AU:TUA Stock Forecast page.

Tuas Limited Announces Strategic Acquisition of M1 Limited to Strengthen Singapore Telecom Market
Aug 11, 2025

Tuas Limited has announced the acquisition of M1 Limited, excluding its ICT businesses, for S$1,430 million, aiming to create a stronger telecommunications presence in Singapore by combining Simba’s digital consumer services with M1’s established network. The acquisition is expected to generate significant synergies, enhancing service quality and operational efficiency, and is anticipated to be EPS accretive from the first year. The deal will be funded through existing cash, an equity raising of at least A$416 million, and S$1,100 million in acquisition bank debt financing. Completion is subject to regulatory approval, and the acquisition is seen as a strategic move to strengthen Tuas’s market position and unlock the potential of 5G and broadband services.

The most recent analyst rating on (AU:TUA) stock is a Buy with a A$7.00 price target. To see the full list of analyst forecasts on Tuas Ltd. stock, see the AU:TUA Stock Forecast page.

Tuas Limited Initiates Trading Halt Amid Acquisition Plans
Aug 11, 2025

Tuas Limited, a company listed on the Australian Securities Exchange (ASX), has requested a trading halt on its securities pending an important announcement. The company is set to acquire shares of M1 Limited in Singapore and is conducting a capital raising to support this acquisition. The trading halt will remain in effect until the announcement is made or normal trading resumes on 13 August 2025. This move is significant for Tuas Limited as it expands its market presence in Singapore, potentially impacting its operations and stakeholders.

The most recent analyst rating on (AU:TUA) stock is a Buy with a A$7.00 price target. To see the full list of analyst forecasts on Tuas Ltd. stock, see the AU:TUA Stock Forecast page.

Tuas Limited Announces Director Resignation
May 14, 2025

Tuas Limited has announced the resignation of Robert Dobson Millner from its board of directors, effective May 13, 2025. Millner held 286,590 fully paid ordinary shares as a registered holder and 4,899,941 shares through family-related interests and a super fund. This change in directorship may impact the company’s strategic direction and stakeholder confidence, given Millner’s significant shareholding and influence within the company.

The most recent analyst rating on (AU:TUA) stock is a Buy with a A$5.25 price target. To see the full list of analyst forecasts on Tuas Ltd. stock, see the AU:TUA Stock Forecast page.

Tuas Limited Announces Change in Share Register Management
May 13, 2025

Tuas Limited has announced a change in the management of its share register, transferring responsibilities to MUFG Corporate Markets (AU) Limited, effective from May 26, 2025. This change is expected to streamline operations and potentially improve shareholder communications, reflecting Tuas Limited’s ongoing efforts to enhance its corporate governance and operational efficiency.

The most recent analyst rating on (AU:TUA) stock is a Buy with a A$5.25 price target. To see the full list of analyst forecasts on Tuas Ltd. stock, see the AU:TUA Stock Forecast page.

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.Date of analysis: Aug 13, 2025