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Azeus Systems Holdings Ltd.
(SGX:BBW)
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Rating:75Outperform
Price Target:
S$11.00
▲(7.21% Upside)
Action:Upgraded
Date:10/01/26
The score is driven primarily by strong fundamentals (high profitability and low leverage) and an attractive valuation (low P/E and high dividend yield). These positives are tempered by softer FY2026 operating momentum and cash-flow conversion, alongside neutral-to-slightly-weak technical signals.
Positive Factors
Strong profitability
The company has demonstrated strong profitability across multiple years, supported by high gross margins and substantial operating earnings. This indicates an economically attractive services and software model, while preserving capacity to reinvest, withstand moderate pressure, and sustain returns over the coming quarters.
Negative Factors
FY2026 revenue decline
The reversal from several years of revenue expansion to a FY2026 decline signals weaker operating momentum. If the contraction persists, it could reduce scale benefits, limit investment capacity, and make it harder to maintain the company’s previously strong profitability profile.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability
The company has demonstrated strong profitability across multiple years, supported by high gross margins and substantial operating earnings. This indicates an economically attractive services and software model, while preserving capacity to reinvest, withstand moderate pressure, and sustain returns over the coming quarters.
Read all positive factors
Azeus Systems Holdings Ltd. (BBW) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$297.60M
Dividend Yield9.2%
Average Volume (3M)1.77K
Price to Earnings (P/E)9.0
Beta (1Y)0.13
Revenue Growth-5.54%
EPS Growth-22.51%
CountrySG
Employees662
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)6.80
Shares Outstanding29,999,992
10 Day Avg. Volume1,280
30 Day Avg. Volume1,770
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)9.75
Price to Sales (P/S)4.13
P/FCF Ratio17.30
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
Azeus Systems Holdings Ltd. Business Overview & Revenue Model
Company Description
Azeus Systems Holdings Ltd., an investment holding firm, offers a comprehensive suite of information technology products and services to clients across a vast global footprint, spanning Hong Kong, Asia, Europe (including the UK), Australia, New Ze...
How the Company Makes Money
Azeus Systems Holdings Ltd. generates revenue primarily by delivering software and technology services to clients. Key revenue streams typically include fees from software development and implementation projects (e.g., building, customizing, and d...
Azeus Systems Holdings Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
73
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 469.25M | 474.80M | 328.94M | 252.91M | 217.66M |
| Gross Profit | 357.57M | 363.85M | 233.51M | 182.06M | 157.60M |
| EBITDA | 161.21M | 203.03M | 100.69M | 59.85M | 57.39M |
| Net Income | 135.43M | 166.95M | 84.99M | 50.54M | 48.45M |
Balance Sheet | |||||
| Total Assets | 455.42M | 441.49M | 323.32M | 254.37M | 259.54M |
| Cash, Cash Equivalents and Short-Term Investments | 250.24M | 270.30M | 183.38M | 103.26M | 198.66M |
| Total Debt | 20.65M | 24.96M | 25.04M | 3.16M | 4.00M |
| Total Liabilities | 256.38M | 217.42M | 164.11M | 120.89M | 104.85M |
| Stockholders Equity | 198.85M | 224.06M | 159.20M | 133.47M | 154.69M |
Cash Flow | |||||
| Free Cash Flow | 112.06M | 194.38M | 96.47M | 34.57M | 57.42M |
| Operating Cash Flow | 116.84M | 197.91M | 102.31M | 35.69M | 58.05M |
| Investing Cash Flow | -4.79M | -203.00K | -4.22M | -902.00K | -588.00K |
| Financing Cash Flow | -136.70M | -110.59M | -56.53M | -118.50M | -17.91M |
Azeus Systems Holdings Ltd. Technical Analysis
Neutral
10.26
Price Trends
10.05
Negative
10.30
Negative
10.86
Negative
Market Momentum
-0.03
Negative
53.51
Neutral
42.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:BBW, the sentiment is Neutral. The current price of 10.26 is above the 20-day moving average (MA) of 9.86, above the 50-day MA of 10.05, and below the 200-day MA of 10.86, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 53.51 is Neutral, neither overbought nor oversold. The STOCH value of 42.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:BBW.
Azeus Systems Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | S$215.43M | 10.95 | 46.38% | 4.37% | 37.21% | 80.71% | |
75 Outperform | S$297.60M | 9.02 | 57.45% | 9.20% | -5.54% | -22.51% | |
71 Outperform | S$519.36M | 78.75 | 32.69% | ― | 53.91% | 157.14% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | S$887.54M | 26.05 | 12.07% | 1.91% | 24.78% | 21.43% |
* Technology Sector Average
SG:BBW
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Azeus Systems Holdings Ltd. Corporate Events
Azeus Wins HK$17.2 Million Hong Kong Government E‑Tendering Upgrade
Sep 1, 2026
Azeus Systems Holdings Ltd. has secured a HK$17.2 million contract to enhance the Hong Kong SAR Government’s e-Tendering System for the Financial Services and the Treasury Bureau and the Development Bureau. The deal covers design, implementa...
Azeus Systems Shareholders Back Dividend, Board Continuity and Share Issuance Mandate at Hybrid AGM
Aug 21, 2026
Azeus Systems Holdings Ltd. held its annual general meeting in Singapore on July 29, 2026, in a hybrid format combining a physical venue with live webcast and audio stream via its Convene AGM platform. The meeting was properly constituted with a q...
Azeus outlines revenue outlook, cost discipline and key project risks ahead of AGM
Jul 24, 2026
Azeus Systems Holdings Ltd. will hold its annual general meeting on 29 July 2026 in Singapore and has addressed shareholder questions on its major projects and cost structure. The company highlighted that its core Convene business continues to gro...
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.