Renaissance United Limited (I11) AI Stock Analysis

Renaissance United Limited

(SGX:I11)

Select Model

Rating:42Neutral

Action:reiterated

Date:10/20/26

Overall score is driven primarily by weak financial performance: despite improving revenue and a return to positive EBITDA, the company still has net losses, rising leverage, and negative operating/free cash flow. Valuation is difficult to assess due to a negative P/E and missing dividend yield, while technicals cannot be evaluated from the provided indicators.

Positive Factors

Revenue GrowthImproving revenue shows that the company is gaining business activity despite its weak profitability profile. If this momentum persists, a larger revenue base could provide operating leverage and create a foundation for rebuilding margins and earnings over the next several quarters.

Negative Factors

Rising LeverageThe sharp increase in debt-to-equity leaves the company with less balance-sheet protection while profitability remains fragile. Higher leverage can restrict strategic flexibility, increase reliance on financing capacity, and make any renewed operating weakness more difficult to absorb over the medium term.

Renaissance United Limited Business Overview & Revenue Model

Company Description

Renaissance United Limited operates as an investment holding company, with its core business centered on the distribution of gas to residential, commercial, and industrial consumers. The company's diverse activities are categorized into five principa...

Renaissance United Limited Financial Statement Overview

Summary

Financials indicate early stabilization but remain weak overall: revenue is improving and EBITDA has turned positive recently, yet profitability is still fragile (low gross margin and net losses). Balance-sheet risk is elevated with leverage rising to ~2.1x debt-to-equity, and cash generation is the biggest concern with negative operating and free cash flow in TTM.

Income Statement

34Negative

Balance Sheet

41Neutral

Cash Flow

27Negative

Financial statement breakdown
Breakdown	TTM	Apr 2025	Apr 2024	Apr 2023	Jul 2022	Apr 2021
Income Statement
Total Revenue	89.69M	83.16M	77.68M	93.47M	74.24M	77.15M
Gross Profit	4.06M	2.47M	10.84M	22.56M	14.35M	20.13M
EBITDA	4.33M	2.69M	-8.14M	-3.35M	-1.56M	10.21M
Net Income	-685.00K	-1.47M	-9.93M	-6.78M	-6.06M	-5.40M
Balance Sheet
Total Assets	74.48M	76.95M	73.08M	90.07M	100.23M	131.75M
Cash, Cash Equivalents and Short-Term Investments	8.57M	7.76M	7.29M	15.83M	10.90M	18.76M
Total Debt	25.85M	25.37M	22.40M	25.82M	22.48M	22.84M
Total Liabilities	58.88M	57.14M	51.16M	53.68M	53.64M	63.12M
Stockholders Equity	12.33M	14.98M	22.03M	32.19M	38.95M	52.49M
Cash Flow
Free Cash Flow	-3.92M	-3.95M	-4.31M	2.52M	-3.87M	9.24M
Operating Cash Flow	-3.78M	-3.85M	-1.56M	2.71M	-3.47M	9.31M
Investing Cash Flow	-285.00K	-235.00K	-2.73M	-194.00K	-313.00K	-60.00K
Financing Cash Flow	2.68M	1.46M	-3.91M	1.99M	889.00K	-5.34M

Renaissance United Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (66)

Financial Indicators

SG:I11 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SG:5GD	71Outperform	SGD 455.96M	6.37	18.01%	―	―	―
Sector *	66Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
SG:BHK	62Neutral	SGD 406.96M	3.04	6.52%	6.96%	―	―
SG:U9E	58Neutral	SGD 590.29M	4.54	5.70%	8.24%	-36.35%	-23.32%
SG:YSV	50Neutral	SGD 21.86M	0.10	335.38%	―	-17.43%	―
SG:I11	42Neutral	SGD 6.18M	-10.00	-4.63%	―	20.85%	64.71%

* Utilities Sector Average

Performance Comparison

SG:I11 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SG:BHK	SIIC Environment Holdings	0.16	-0.01	-6.51%
SG:U9E	China Everbright Water	0.20	-0.03	-13.14%
SG:YSV	Charisma Energy Services	0.08	-0.00	-1.23%
SG:5GD	Sunpower Group Ltd.	0.56	0.08	15.63%
SG:AJ2	Ouhua Energy Holdings Ltd.	0.03	-0.03	-49.12%

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 20, 2026

Renaissance United Limited AI Stock Analysis