Frencken Group Limited (SG:E28)
SGX:E28
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Frencken Group Limited
(SGX:E28)
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Rating:71Outperform
Price Target:
S$3.50
▲(38.34% Upside)
Action:Reiterated
Date:05/07/26
Score is driven primarily by solid financial performance (re-accelerating revenue, conservative leverage, and strong 2025 cash flow), supported by a strong technical uptrend. The main offsets are margin compression and limited valuation clarity due to an unusable P/E, with only a modest dividend yield.
Positive Factors
Revenue re-acceleration
Sustained revenue growth with a marked step-up in 2025 indicates durable demand or successful program wins. That growth supports higher capacity utilization, spreads fixed costs, and provides a stronger base for engineering services and long-term customer relationships, improving structural earnings visibility.
Negative Factors
Margin compression
A sustained decline in margins versus earlier years suggests pricing pressure, mix shifts to lower-complexity programs, or higher input costs. Lower margins reduce the firm's ability to convert revenue into earnings, constrain reinvestment and returns, and make profitability more sensitive to demand swings.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue re-acceleration
Sustained revenue growth with a marked step-up in 2025 indicates durable demand or successful program wins. That growth supports higher capacity utilization, spreads fixed costs, and provides a stronger base for engineering services and long-term customer relationships, improving structural earnings visibility.
Read all positive factors
Frencken Group Limited (E28) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.32B
Dividend Yield1.88%
Average Volume (3M)4.69M
Price to Earnings (P/E)43.5
Beta (1Y)1.27
Revenue Growth8.91%
EPS Growth5.41%
CountrySG
Employees3,600
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)0.08
Shares Outstanding428,615,420
10 Day Avg. Volume4,936,130
30 Day Avg. Volume4,692,093
Financial Highlights & Ratios
PEG Ratio2.79
Price to Book (P/B)1.24
Price to Sales (P/S)0.68
P/FCF Ratio6.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$3.23Price Target Upside27.57% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.1
Revenue Forecast (FY)S$909.15M
Frencken Group Limited Business Overview & Revenue Model
Company Description
Frencken Group Limited, an investment holding company, provides original design, original equipment, and diversified integrated manufacturing solutions worldwide. It operates in two segments, Mechatronics and Integrated Manufacturing Services (IMS...
How the Company Makes Money
Frencken primarily makes money by providing contract manufacturing and related engineering services to original equipment manufacturers (OEMs) and technology companies. Its core revenue stream is the sale of manufactured products—typically complex...
Frencken Group Limited Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
74
Positive
Cash Flow
79
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 852.99M | 865.12M | 794.33M | 742.86M | 786.11M | 767.07M |
| Gross Profit | 120.95M | 123.35M | 115.34M | 98.00M | 118.98M | 128.91M |
| EBITDA | 67.66M | 79.68M | 83.44M | 77.66M | 95.32M | 96.19M |
| Net Income | 38.92M | 39.12M | 37.12M | 32.48M | 51.87M | 58.73M |
Balance Sheet | ||||||
| Total Assets | 722.38M | 740.24M | 735.14M | 735.29M | 725.21M | 688.14M |
| Cash, Cash Equivalents and Short-Term Investments | 148.49M | 161.88M | 159.20M | 142.63M | 166.99M | 192.60M |
| Total Debt | 130.40M | 90.02M | 133.55M | 142.03M | 150.45M | 119.44M |
| Total Liabilities | 275.07M | 261.38M | 297.64M | 330.01M | 328.79M | 309.12M |
| Stockholders Equity | 443.83M | 475.29M | 433.96M | 401.25M | 391.89M | 376.16M |
Cash Flow | ||||||
| Free Cash Flow | 47.65M | 86.92M | 34.95M | 22.08M | -4.77M | 22.87M |
| Operating Cash Flow | 61.50M | 104.82M | 48.05M | 48.96M | 37.83M | 40.37M |
| Investing Cash Flow | -11.84M | -17.83M | -11.12M | -27.30M | -44.48M | -28.84M |
| Financing Cash Flow | -18.92M | -42.60M | -15.57M | -35.85M | -30.43M | -9.21M |
Frencken Group Limited Technical Analysis
Neutral
2.53
Price Trends
2.63
Positive
2.21
Positive
1.82
Positive
Market Momentum
0.12
Positive
52.39
Neutral
45.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:E28, the sentiment is Neutral. The current price of 2.53 is below the 20-day moving average (MA) of 3.07, below the 50-day MA of 2.63, and above the 200-day MA of 1.82, indicating a neutral trend. The MACD of 0.12 indicates Positive momentum. The RSI at 52.39 is Neutral, neither overbought nor oversold. The STOCH value of 45.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:E28.
Frencken Group Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | S$414.32M | 29.07 | 26.70% | 3.73% | 11.38% | 22.41% | |
75 Outperform | S$470.79M | 23.35 | 11.96% | 5.24% | -7.63% | -33.33% | |
73 Outperform | S$717.77M | 17.35 | 12.85% | 17.05% | -30.42% | -43.04% | |
71 Outperform | S$1.32B | 43.54 | 6.55% | 1.88% | 8.91% | 5.41% | |
64 Neutral | S$3.22B | 183.28 | 3.48% | ― | 4.98% | 47.27% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | S$1.19B | 36.85 | 10.68% | 2.41% | 12.51% | 33.59% |
* Technology Sector Average
SG:E28
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Frencken Group Limited Corporate Events
Frencken Shareholders Approve FY2025 Dividend, Board Changes and Share Issue Mandate at AGM
May 22, 2026
Shareholders of Frencken Group Limited convened for the annual general meeting in Singapore, where the board and management presented the audited financial statements for the year ended 31 December 2025. The meeting confirmed a quorum, introduced ...
Frencken refreshes board with new lead independent director and governance reshuffle
May 8, 2026
Frencken Group Limited has overhauled its board structure following the retirement of long-serving independent director Melvin Chan Wai Leong, who stepped down after completing a nine-year tenure and relinquished his roles as lead independent dire...
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.