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TrickleStar Ltd.
(SGX:CYW)
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Rating:49Neutral
Price Target:
S$0.09
â–²(213.33% Upside)
Action:Reiterated
Date:10/03/26
The score is primarily held back by weak financial performance—deteriorating margins, widening losses, and renewed cash burn—despite a strong revenue rebound. Technicals are moderately supportive with the price above major moving averages, but mixed momentum signals reduce confidence. Valuation is constrained by a negative P/E and no dividend yield data.
Positive Factors
Revenue rebound
The 118% TTM revenue rebound shows the company can regain demand and scale sales after a weaker period. If sustained, stronger revenue provides a larger base for operating leverage, product investment, and eventual recovery in earnings quality.
Negative Factors
Margin compression and losses
The sharp gross-margin decline and negative EBIT, EBITDA, and net margins indicate that the revenue rebound is not translating into healthy operating economics. Persistent margin pressure can limit reinvestment, delay breakeven, and make future growth less valuable to shareholders.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound
The 118% TTM revenue rebound shows the company can regain demand and scale sales after a weaker period. If sustained, stronger revenue provides a larger base for operating leverage, product investment, and eventual recovery in earnings quality.
Read all positive factors
TrickleStar Ltd. (CYW) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$22.37M
Dividend Yield2.05%
Average Volume (3M)705.67K
Price to Earnings (P/E)―
Beta (1Y)2.46
Revenue Growth-58.91%
EPS Growth-134.48%
CountrySG
Employees11
SectorTechnology
Sector Strength88
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding237,928,560
10 Day Avg. Volume542,020
30 Day Avg. Volume705,666
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)0.67
Price to Sales (P/S)0.60
P/FCF Ratio-10.05
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
TrickleStar Ltd. Business Overview & Revenue Model
Company Description
TrickleStar Limited, founded in 2007 and based in Kuala Lumpur, Malaysia, specializes in developing and supplying innovative energy optimization solutions. These products empower consumers in the United States and Canada to significantly reduce th...
TrickleStar Ltd. Financial Statement Overview
Summary
Income Statement
33
Negative
Balance Sheet
72
Positive
Cash Flow
29
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.77M | 5.81M | 11.48M | 10.29M | 13.82M | 11.29M |
| Gross Profit | 1.68M | 2.01M | 2.14M | 2.39M | 3.50M | 1.80M |
| EBITDA | -1.21M | -52.02K | -561.50K | -149.79K | -34.70K | -1.62M |
| Net Income | -1.33M | -155.48K | -665.21K | -282.16K | 164.30K | -2.39M |
Balance Sheet | ||||||
| Total Assets | 7.22M | 6.12M | 7.14M | 8.58M | 8.82M | 9.11M |
| Cash, Cash Equivalents and Short-Term Investments | 3.40M | 1.48M | 1.24M | 3.28M | 2.74M | 3.13M |
| Total Debt | 74.22K | 104.71K | 82.40K | 138.12K | 193.30K | 557.17K |
| Total Liabilities | 967.88K | 956.98K | 2.58M | 3.45M | 3.50M | 4.04M |
| Stockholders Equity | 6.26M | 5.16M | 4.56M | 5.12M | 5.32M | 5.06M |
Cash Flow | ||||||
| Free Cash Flow | -902.98K | -345.16K | -1.99M | 590.76K | 213.28K | -408.23K |
| Operating Cash Flow | -874.50K | -325.92K | -1.92M | 677.54K | 364.36K | 550.21K |
| Investing Cash Flow | -27.59K | -19.24K | -68.35K | -80.76K | -147.72K | -957.84K |
| Financing Cash Flow | 2.06M | 558.37K | -61.35K | -63.11K | 701.00K | -1.57M |
TrickleStar Ltd. Technical Analysis
Positive
0.03
Price Trends
0.08
Positive
0.09
Negative
0.06
Positive
Market Momentum
<0.01
Negative
65.95
Neutral
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:CYW, the sentiment is Positive. The current price of 0.03 is below the 20-day moving average (MA) of 0.08, below the 50-day MA of 0.08, and below the 200-day MA of 0.06, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 65.95 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:CYW.
TrickleStar Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | S$444.87M | 21.06 | 8.07% | 6.17% | -7.63% | -33.33% | |
64 Neutral | S$401.33M | 11.81 | 12.44% | 22.55% | -8.15% | -16.22% | |
63 Neutral | S$62.65M | 7.04 | 20.35% | 2.50% | 124.58% | 1505.56% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | S$22.37M | -8.79 | -23.29% | 2.05% | -58.91% | -134.48% |
* Technology Sector Average
SG:CYW
TrickleStar Ltd.
0.09
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200.00%
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TrickleStar Ltd. Corporate Events
TrickleStar Announces Change of Company Secretaries in Singapore
Sep 30, 2026
TrickleStar Limited, a Singapore-incorporated listed company, maintains a governance framework that relies on appointed company secretaries to manage corporate compliance and regulatory filings. Its engagement of PrimePartners Corporate Finance Pt...
TrickleStar Reshapes Board After Independent Director Resignation
Sep 8, 2026
TrickleStar Limited is a Singapore-incorporated company listed on the Catalist board, operating through a group structure with an Executive Chairman and Group CEO leading a Board of non-executive directors. Its governance relies on Audit, Nominati...
TrickleStar Reshapes Board Committees After Lead Independent Director Resigns
Sep 3, 2026
TrickleStar Limited has announced the resignation of its Lead Independent Director, Jeremy John Figgins, effective 11 September 2026. His departure triggers immediate changes to his roles as chairman of the Audit Committee and member of the Nomina...
TrickleStar reshapes board committees with new remuneration appointment
Aug 6, 2026
TrickleStar Limited has reshuffled its board committees, appointing non-executive non-independent director Chua Hoi Tek to the remuneration committee with effect from 6 August 2026, replacing executive chairman and group CEO Tan Ong Huat. The comp...
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.