E28 Stock Analysis: FRENCKEN | SG
Scientific & Technical Instruments | SG, Singapore | Market Cap: 1.089m SGD | 12M Return: 63.6% | SG1R43925234 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 14.7M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Frencken Group Limited is a Singapore-headquartered investment holding company founded in 1999 that operates across Singapore, the Netherlands, China, and Malaysia. It delivers original design, original equipment, and integrated manufacturing solutions through two core segments: Mechatronics, which serves OEM customers in the medical, semiconductor, analytical, pharmaceutical, industrial/factory automation, and aerospace end-markets with precision-engineered systems, parts, and value-added services; and Integrated Manufacturing Services (IMS), which provides contract design and manufacturing for the automotive and office automation industries, including plastic injection moulding, tooling, surface finishes, automated assembly, and component sub-assemblies. The group also holds property and offers ancillary services such as vacuum coating, thermal treatment, and adhesive/thermal management products.
The business model is that of a diversified contract manufacturer serving multiple end-markets, which typically helps smooth cyclicality across the semiconductor, automotive, and industrial automation cycles. As an SGX-listed small-cap in the Information Technology sector (Electronic Components sub-industry), Frencken operates in a highly competitive global EMS/ODM landscape where peers range from large multinational manufacturers to specialised regional precision-engineering firms, with margin profiles often shaped by design value-add versus volume assembly work.
- Semiconductor equipment cycle lifts mechatronics precision engineering orders
- Automotive and office automation softness weighs on IMS segment margins
- US-China trade tensions expose manufacturing footprint to tariff risks
| Net Income: 39.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.20 > 0.02 and ΔFCF/TA 7.96 > 1.0 |
| NWC/Revenue: 38.03% < 20% (prev 36.37%; Δ 1.67% < -1%) |
| CFO/TA 0.23 > 3% & CFO 166.7m > Net Income 39.1m |
| Net Debt (-94.1m) to EBITDA (79.5m): -1.18 < 3 |
| Current Ratio: 2.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (427.1m) vs 12m ago 0.02% < -2% |
| Gross Margin: 14.26% > 18% (prev 14.52%; Δ -0.26% > 0.5%) |
| Asset Turnover: 117.3% > 50% (prev 108.1%; Δ 9.22% > 0%) |
| Interest Coverage Ratio: 8.97 > 6 (EBIT TTM 48.0m / Interest Expense TTM 5.35m) |
| A: 0.44 (Total Current Assets 524.3m - Total Current Liabilities 195.3m) / Total Assets 740.2m |
| B: 0.50 (Retained Earnings 367.1m / Total Assets 740.2m) |
| C: 0.07 (EBIT TTM 48.0m / Avg Total Assets 737.7m) |
| D: 1.82 (Book Value of Equity 475.3m / Total Liabilities 261.4m) |
| Altman-Z'' = 6.88 = AAA |
| DSRI: 0.93 (Receivables 138.9m/137.8m, Revenue 865.1m/794.3m) |
| GMI: 1.02 (GM 14.52% / 14.26%) |
| AQI: 1.06 (AQ_t 0.04 / AQ_t-1 0.04) |
| SGI: 1.09 (Revenue 865.1m / 794.3m) |
| TATA: -0.17 (NI 39.1m - CFO 166.7m) / TA 740.2m) |
| Beneish M = -2.99 (Cap -4..+1) = A |
As of September 07, 2026, the stock is trading at SGD 2.30 with a total of 11,168,100 shares traded. Over the past week, the price has changed by -2.13%, over one month by -11.54%, over three months by -23.33% and over the past year by +63.62%.
Current recommended Stop Loss: 2.00 (which is 13% or 2.7 ATR below the current price).
FRENCKEN has no consensus analysts rating.
P/E Trailing = 25.5556
P/E Forward = 18.3824
P/S = 1.2642
P/B = 2.0034
P/EG = 1.4704
Revenue TTM = 865.1m SGD
EBIT TTM = 48.0m SGD
EBITDA TTM = 79.5m SGD
Long Term Debt = 585k SGD (from longTermDebt, last quarter)
Short Term Debt = 21.7m SGD (from shortLongTermDebt, last quarter)
Debt = 67.8m SGD (Leases only: 67.8m)
Net Debt = -94.1m SGD (calculated: Debt 67.8m - CCE 161.9m)
Enterprise Value = 995.1m SGD (1.09b + Debt 67.8m - CCE 161.9m)
Interest Coverage Ratio = 8.97 (Ebit TTM 48.0m / Interest Expense TTM 5.35m)
EV/FCF = 6.77x (Enterprise Value 995.1m / FCF TTM 147.0m)
FCF Yield = 14.78% (FCF TTM 147.0m / Enterprise Value 995.1m)
FCF Margin = 17.00% (FCF TTM 147.0m / Revenue TTM 865.1m)
Net Margin = 4.52% (Net Income TTM 39.1m / Revenue TTM 865.1m)
Gross Margin = 14.26% ((Revenue TTM 865.1m - Cost of Revenue TTM 741.8m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 1.34 (Enterprise Value 995.1m / Total Assets 740.2m)
Interest Expense / Debt = 7.90% (Interest Expense 5.35m / Debt 67.8m)
Taxrate = 20.41% (10.1m / 49.4m)
NOPAT = 38.2m (EBIT 48.0m * (1 - 20.41%))
Current Ratio = 2.68 (Total Current Assets 524.3m / Total Current Liabilities 195.3m)
Debt / Equity = 0.14 (Debt 67.8m / totalStockholderEquity, last quarter 475.3m)
Debt / EBITDA = -1.18 (Net Debt -94.1m / EBITDA 79.5m)
Debt / FCF = -0.64 (Net Debt -94.1m / FCF TTM 147.0m)
Total Stockholder Equity = 440.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 5.30% (Net Income 39.1m / Total Assets 740.2m)
RoE = 8.87% (Net Income TTM 39.1m / Total Stockholder Equity 440.9m)
RoCE = 10.87% (EBIT 48.0m / Capital Employed (Equity 440.9m + L.T.Debt 585k))
RoIC = 7.61% (NOPAT 38.2m / Invested Capital 501.7m)
WACC = 10.62% (E(1.09b)/V(1.16b) * Re(10.89%) + D(67.8m)/V(1.16b) * Rd(7.90%) * (1-Tc(0.20)))
Discount Rate = 10.89% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 67.05 | Cagr: 0.06%
[DCF] Terminal Value 70.99% ; FCFF base≈123.2m ; Y1≈141.3m ; Y5≈207.9m
[DCF] Fair Price = 4.91 (EV 2.23b - Net Debt -94.1m = Equity 2.33b / Shares 473.6m; r=10.62% [WACC]; 5y FCF grow 15.0% → 2.50% )
Revenue Correlation: 99.76 | Revenue CAGR: 7.92% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=0.10 | Chg30d=-0.98% | Revisions=-50% | GrowthEPS=+10.8% | GrowthRev=+4.9%
EPS next Year (2027-12-31): EPS=0.12 | Chg30d=-0.42% | Revisions=+17% | GrowthEPS=+16.2% | GrowthRev=+9.2%
[Analyst] Revisions Ratio: -22% (up=2, down=4)