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A-Smart Holdings Ltd. (BQC) AI Stock Analysis

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SG:BQC

A-Smart Holdings Ltd.

(SGX:BQC)

Select Model
Rating:45Neutral
Price Target:SGD 0.09â–²(7.41% Upside)
Action:reiterated
Date:10/02/26

The score is held back primarily by weak financial quality—especially ongoing cash burn and higher leverage in 2026—despite strong revenue growth. Technicals also point to a weak price trend with negative momentum, and valuation is difficult to support with a negative P/E and no dividend yield data.

Positive Factors
Strong Revenue GrowthThe sharp 2026 revenue increase indicates stronger business activity and expanding topline scale. If the company can sustain this growth while improving cash conversion and profitability, greater operating scale could support a more durable earnings base over the next several quarters.
Negative Factors
Persistent Cash BurnRepeatedly negative operating cash flow shows that reported business activity has not translated into internally generated liquidity. Continued cash burn can force reliance on external funding or balance-sheet capacity, limiting financial flexibility and making growth more difficult to sustain.

A-Smart Holdings Ltd. (BQC) vs. iShares MSCI Singapore ETF (EWS)

-40%-30%-20%-10%0%10%20%30%SG:BQC-34.15%EWS+12.23%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
SGD 21.73M
Dividend Yield
―
Average Volume (3M)
12.43K
Price to Earnings (P/E)
85.4
Beta (1Y)
0.88
Revenue Growth
35.93%
EPS Growth
―
Country
Singapore
Employees
57
Sector
Industrials
Sector Strength
63
Industry
Specialty Business Services

A-Smart Holdings Ltd. Business Overview & Revenue Model

Company Description

A-Smart Holdings Ltd. functions as an investment holding company, offering a wide array of print management solutions to clients both within Singapore and across international markets. The company structures its diverse operations across several divi...

A-Smart Holdings Ltd. Financial Statement Overview

Summary

Revenue growth is strong (2026 up ~42% vs 2025) and profitability returned in 2026, but this is outweighed by persistently negative operating and free cash flow across all years shown and a sharp rise in total debt in 2026, increasing funding and execution risk.

Income Statement

56Neutral

Balance Sheet

63Positive

Cash Flow

24Negative
Financial statement breakdown
BreakdownTTMJul 2026Jul 2025Jul 2024Jul 2023Jul 2022
Income Statement
Total Revenue9.55M9.55M7.03M7.45M6.34M6.14M
Gross Profit4.55M1.11M3.72M3.80M3.76M3.11M
EBITDA1.18M1.18M-596.00K-64.00K929.00K-382.00K
Net Income236.00K236.00K-1.27M-927.00K113.00K-1.10M
Balance Sheet
Total Assets56.82M56.82M38.90M36.66M28.21M19.80M
Cash, Cash Equivalents and Short-Term Investments10.79M10.79M3.67M6.56M7.10M6.05M
Total Debt24.26M17.90M7.22M7.68M6.86M2.98M
Total Liabilities30.93M30.93M13.10M8.89M8.11M4.78M
Stockholders Equity25.69M25.69M25.71M27.66M19.96M14.87M
Cash Flow
Free Cash Flow-5.99M-6.00M-2.55M-8.43M-3.56M-730.00K
Operating Cash Flow-5.90M-5.92M-2.48M-8.38M-3.34M-688.00K
Investing Cash Flow-75.00K-87.00K-57.00K-6,000-121.00K-30.00K
Financing Cash Flow13.84M13.87M-1.00M7.88M4.52M-806.00K

A-Smart Holdings Ltd. Technical Analysis

Technical Analysis SentimentNegative
Last Price0.08

Price Trends

50DMA0.09Negative
100DMA0.09Negative
200DMA0.10Negative

Market Momentum

MACD-0.00Positive
RSI24.13Positive
STOCH2.22Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:BQC, the sentiment is Negative. The current price of 0.08 is below the 20-day moving average (MA) of 0.09, below the 50-day MA of 0.09, and below the 200-day MA of 0.10, indicating a bearish trend. The MACD of -0.00 indicates Positive momentum. The RSI at 24.13 is Positive, neither overbought nor oversold. The STOCH value of 2.22 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:BQC.

A-Smart Holdings Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (63)

Financial Indicators

SG:BQC against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
SG:BQCSG:BQC45NeutralSGD 21.73M85.390.93%―35.93%―

* Industrials Sector Average

Performance Comparison

-50%0%50%100%SG:BQCSG:43BSG:5NVSG:5WFSG:L23SG:NEXDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
SG:BQC and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
SG:BQCA-Smart Holdings Ltd.0.08-0.05-37.21%
SG:43BSecura Group Ltd.0.06-0.01-12.33%
SG:5NVChasen Holdings Limited0.08-0.01-8.89%
SG:5WFISOTeam Ltd0.05-0.03-34.57%
SG:L23Enviro-Hub Holdings Ltd.0.01-0.01-50.00%
SG:NEXReclaims Global Limited0.200.016.42%

A-Smart Holdings Ltd. Corporate Events

A-Smart Sets Off Shareholder Loan Against Rights Issue Subscriptions, Targets S$13.1m Net Proceeds

Aug 5, 2026

A-Smart Holdings Ltd. has updated investors on financing arrangements linked to its proposed renounceable non-underwritten rights issue, including an additional unsecured shareholder loan of S$7.84 million from MWD at 3% interest. This brings total p...

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: Oct 02, 2026