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KSH Holdings Limited
(SGX:ER0)
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Rating:58Neutral
Price Target:
S$0.32
▲(0.63% Upside)
Action:Reiterated
Date:08/29/26
The score is driven primarily by improving fundamentals—profitability returning in 2026, stronger recent free cash flow, and materially lower leverage. These positives are tempered by persistent multi-year revenue declines and weak technical momentum (negative MACD, below-neutral RSI, and longer-term downtrend signals). Valuation is balanced by a high P/E versus a supportive dividend yield.
Positive Factors
Lower Leverage
The substantial debt reduction strengthens financial flexibility and lowers balance-sheet risk. A larger equity cushion should help KSH absorb construction-cycle volatility, fund projects more prudently, and reduce the burden of interest and refinancing requirements.
Negative Factors
Persistent Revenue Contraction
Several consecutive years of falling revenue raise concerns about project awards, backlog conversion, and demand across the construction and property businesses. Without a durable top-line recovery, the recent earnings improvement may be difficult to sustain.
Read all positive and negative factors
Positive Factors
Negative Factors
Lower Leverage
The substantial debt reduction strengthens financial flexibility and lowers balance-sheet risk. A larger equity cushion should help KSH absorb construction-cycle volatility, fund projects more prudently, and reduce the burden of interest and refinancing requirements.
Read all positive factors
KSH Holdings Limited (ER0) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$169.02M
Dividend Yield5%
Average Volume (3M)120.46K
Price to Earnings (P/E)38.0
Beta (1Y)0.69
Revenue Growth-17.98%
EPS GrowthN/A
CountrySG
Employees25
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)<0.01
Shares Outstanding569,735,660
10 Day Avg. Volume65,360
30 Day Avg. Volume120,463
Financial Highlights & Ratios
PEG Ratio-0.13
Price to Book (P/B)0.66
Price to Sales (P/S)1.27
P/FCF Ratio5.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$0.50Price Target Upside56.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
KSH Holdings Limited Business Overview & Revenue Model
Company Description
KSH Holdings Limited, together with its subsidiaries, engages in the construction business in Singapore and the People’s Republic of China. It operates through Construction, Property Development and Investment, and Others segments. The company ope...
How the Company Makes Money
KSH Holdings Limited generates revenue mainly from (1) its construction segment and (2) its property-related activities. In construction, the company earns income by undertaking building and civil engineering projects as a contractor; revenue is r...
KSH Holdings Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
70
Positive
Cash Flow
74
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 149.90M | 182.76M | 214.07M | 297.99M | 240.32M |
| Gross Profit | 19.70M | 19.10M | -16.48M | 19.92M | 15.98M |
| EBITDA | 13.68M | -2.06M | -28.52M | 10.94M | 715.00K |
| Net Income | 6.83M | -5.94M | -31.04M | 22.11M | 24.16M |
Balance Sheet | |||||
| Total Assets | 545.49M | 513.66M | 577.41M | 709.17M | 622.61M |
| Cash, Cash Equivalents and Short-Term Investments | 152.98M | 127.63M | 93.15M | 80.50M | 94.15M |
| Total Debt | 109.14M | 70.06M | 151.92M | 209.80M | 124.52M |
| Total Liabilities | 239.58M | 215.77M | 259.96M | 345.44M | 262.38M |
| Stockholders Equity | 287.24M | 278.05M | 293.83M | 338.16M | 336.32M |
Cash Flow | |||||
| Free Cash Flow | 33.86M | 27.92M | -14.43M | -38.80M | 45.49M |
| Operating Cash Flow | 34.32M | 29.04M | -14.31M | -38.16M | 45.91M |
| Investing Cash Flow | -52.76M | 40.73M | 99.18M | -52.20M | 16.54M |
| Financing Cash Flow | 40.42M | -76.75M | -63.55M | 68.32M | -37.49M |
KSH Holdings Limited Technical Analysis
Negative
0.32
Price Trends
0.31
Negative
0.32
Negative
0.33
Negative
Market Momentum
>-0.01
Positive
45.08
Neutral
47.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:ER0, the sentiment is Negative. The current price of 0.32 is above the 20-day moving average (MA) of 0.30, above the 50-day MA of 0.31, and below the 200-day MA of 0.33, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 45.08 is Neutral, neither overbought nor oversold. The STOCH value of 47.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:ER0.
KSH Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
SG:ER0
KSH Holdings Limited
0.30
-0.08
-20.42%
SG:5TT
Keong Hong Holdings Limited
0.13
-0.05
-27.78%
SG:BFI
Tiong Seng Holdings Limited
0.07
-0.03
-25.51%
SG:J2T
Hock Lian Seng Holdings Limited
0.29
-0.16
-35.52%
SG:K75
Koh Brothers Group Limited
0.24
-0.07
-23.70%
SG:L19
Lum Chang Holdings Limited
0.57
0.14
33.25%
KSH Holdings Limited Corporate Events
KSH Holdings Wins Shareholder Backing for Dividend, Board Mandates at 20th AGM
Aug 28, 2026
KSH Holdings Limited held its 20th Annual General Meeting in Singapore, where shareholders approved the audited financial statements for the year ended 31 March 2026 and endorsed a final one-tier tax-exempt cash dividend of 1.00 Singapore cent per...
KSH Holdings outlines order book strength, revenue pipeline and industrial expansion ahead of AGM
Jul 24, 2026
KSH Holdings addressed shareholder questions ahead of its 31 July 2026 AGM, highlighting a construction order book of S$965 million and working capital needs that are expected to rise as projects progress. Management emphasized that its cash and f...
KSH Holdings Swings Back to Profit as New Projects Replenish Order Book
May 29, 2026
KSH Holdings returned to profitability in FY2026, posting S$6.8 million in profit attributable to shareholders after a loss the previous year, as its construction segment maintained positive margins despite a 17.4% revenue decline from completed 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.