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Nanofilm Technologies International Ltd.
(SGX:MZH)
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Rating:46Neutral
Price Target:
S$0.82
â–¼(-14.79% Downside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by mixed financial quality—margin compression versus prior peaks and volatile free cash flow despite revenue recovery—and an expensive valuation (high P/E with a modest yield). Technical indicators are also mildly bearish (negative MACD and price below the 50-day average), adding further caution despite balance-sheet stability.
Positive Factors
Revenue Recovery
The return to revenue growth, followed by acceleration in 2025, indicates that demand and customer activity have recovered across the business. Continued top-line expansion can improve operating leverage, support greater coating-facility utilization, and provide a durable base for rebuilding earnings over the next several quarters.
Negative Factors
Structural Margin Compression
The sustained decline in gross margin shows that the revenue recovery has not restored the economics achieved earlier in the cycle. A thin net margin leaves less room to absorb operating costs or pricing pressure, meaning stronger sales may not translate proportionally into durable profit growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
The return to revenue growth, followed by acceleration in 2025, indicates that demand and customer activity have recovered across the business. Continued top-line expansion can improve operating leverage, support greater coating-facility utilization, and provide a durable base for rebuilding earnings over the next several quarters.
Read all positive factors
Nanofilm Technologies International Ltd. (MZH) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$544.19M
Dividend Yield1.85%
Average Volume (3M)2.52M
Price to Earnings (P/E)36.0
Beta (1Y)0.59
Revenue Growth9.77%
EPS Growth10.50%
CountrySG
Employees2,802
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)N/A
Shares Outstanding663,443,100
10 Day Avg. Volume2,549,510
30 Day Avg. Volume2,524,440
Financial Highlights & Ratios
PEG Ratio0.62
Price to Book (P/B)0.88
Price to Sales (P/S)1.57
P/FCF Ratio217.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$1.53Price Target Upside58.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Nanofilm Technologies International Ltd. Business Overview & Revenue Model
Company Description
Established in 1999 and headquartered in Singapore, Nanofilm Technologies International Limited delivers advanced nanotechnological expertise and products to clients across Singapore, China, Japan, and Vietnam. The enterprise organizes its commerc...
How the Company Makes Money
Nanofilm makes money primarily by selling thin-film coating services and solutions to customers and by monetizing its coating-related technologies across different business lines. Key revenue streams typically include: (1) Coating services / coati...
Nanofilm Technologies International Ltd. Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
72
Positive
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 251.13M | 244.57M | 204.27M | 177.02M | 237.41M | 246.69M |
| Gross Profit | 97.33M | 88.43M | 75.87M | 65.56M | 111.39M | 122.16M |
| EBITDA | 64.39M | 57.02M | 53.00M | 39.38M | 78.25M | 96.39M |
| Net Income | 14.47M | 11.80M | 7.74M | 3.13M | 43.81M | 62.20M |
Balance Sheet | ||||||
| Total Assets | 638.88M | 640.72M | 635.09M | 621.50M | 617.87M | 644.92M |
| Cash, Cash Equivalents and Short-Term Investments | 88.68M | 84.55M | 110.21M | 155.21M | 156.53M | 182.53M |
| Total Debt | 103.52M | 108.10M | 105.68M | 105.76M | 46.57M | 46.11M |
| Total Liabilities | 160.75M | 170.64M | 205.14M | 197.50M | 153.39M | 169.94M |
| Stockholders Equity | 446.46M | 437.70M | 387.86M | 379.87M | 418.79M | 429.60M |
Cash Flow | ||||||
| Free Cash Flow | 26.73M | 1.76M | -28.88M | -24.29M | 10.29M | -34.50M |
| Operating Cash Flow | 73.36M | 48.64M | 21.22M | 39.05M | 72.42M | 73.20M |
| Investing Cash Flow | -64.18M | -72.80M | -59.09M | -54.93M | -68.89M | -119.81M |
| Financing Cash Flow | -17.07M | -1.16M | -7.46M | 25.49M | -27.91M | -4.90M |
Nanofilm Technologies International Ltd. Technical Analysis
Negative
0.96
Price Trends
0.93
Negative
1.06
Negative
0.93
Negative
Market Momentum
-0.03
Negative
29.04
Positive
31.26
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:MZH, the sentiment is Negative. The current price of 0.96 is above the 20-day moving average (MA) of 0.85, above the 50-day MA of 0.93, and above the 200-day MA of 0.93, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 29.04 is Positive, neither overbought nor oversold. The STOCH value of 31.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:MZH.
Nanofilm Technologies International Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | S$361.48M | 22.55 | 29.56% | 2.33% | 15.82% | 28.36% | |
68 Neutral | S$429.76M | 20.74 | 8.07% | 6.27% | -7.63% | -33.33% | |
64 Neutral | S$382.04M | 11.46 | 12.44% | 23.23% | -8.15% | -16.22% | |
63 Neutral | S$1.16B | 26.61 | 7.99% | 1.15% | 1.00% | -1.32% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | S$3.45B | 70.56 | 8.82% | 0.37% | 14.91% | 226.44% | |
46 Neutral | S$544.19M | 35.97 | 3.27% | 1.85% | 9.77% | 10.50% |
* Technology Sector Average
SG:MZH
Nanofilm Technologies International Ltd.
0.80
0.11
16.74%
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Nanofilm Technologies International Ltd. Corporate Events
Nanofilm Secures RMB 50 Million Working Capital Loan for Shanghai Operations
Oct 9, 2026
Nanofilm Technologies International Ltd. has secured new financing for its Chinese operations, underscoring the importance of its Shanghai manufacturing base within the group. The firm’s wholly owned subsidiaries, Nanofilm Vacuum Coating (Sh...
Nanofilm lifts profits and margins on advanced materials and nanofabrication growth
Sep 1, 2026
Nanofilm Technologies International reported broad-based growth in the first half of 2026, with group revenue up 6% year-on-year to S$114 million, driven mainly by a 10% rise in Advanced Materials revenue and 11% growth in Nanofabrication. Profita...
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.