ASL Marine Holdings (SGX:A04) One Off Gain Clouds Strong Margin Narrative In H1 2026

Simply Wall St.

02/15

ASL Marine Holdings (SGX:A04) has reported a busy set of numbers for H1 2026, with total revenue of S$177.9 million and basic EPS of S$0.0133, alongside trailing twelve month revenue of S$359.5 ...

网页链接

免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。

热议股票

{"basename":"/hans","ssrTDKData":{"titleTemplate":"%s - 老虎证券","title":"老虎证券全球投资理财平台| 一站式投资美股新股港股A股","description":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","keywords":"老虎证券,老虎证券开户,老虎券商,老虎证券官网,老虎证券app,tigertrade老虎证券,股票,炒股,新加坡股票交易平台,投资,投资理财","social":{"ogDescription":"老虎证券助您一站式投资美股，新股，港股，A股等全球金融理财产品。新加坡华人最信赖的在线投资平台，现在加入即享低费用，24/5 无时差炒美股投资理财！","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/hans/news/2611919142"},"companyName":"老虎证券"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2611919142\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2611919142?lang=zh_CN&edition=fundamental","thumbnail":"https://images.simplywall.st/asset/industry/3071000-choice1-main-header/1585186812179","is_english":true,"pubTime":"2026-02-15 05:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2611919142","market":"us","top_or_hot":-1,"title":"ASL Marine Holdings (SGX:A04) One Off Gain Clouds Strong Margin Narrative In H1 2026","media":"Simply Wall St.","content":"<div>\n<p>ASL Marine Holdings (SGX:A04) has reported a busy set of numbers for H1 2026, with total revenue of S$177.9 million and basic EPS of S$0.0133, alongside trailing twelve month revenue of S$359.5 ...</p>\n\n<a href=\"https://simplywall.st/stocks/sg/capital-goods/sgx-a04/asl-marine-holdings-shares/news/asl-marine-holdings-sgxa04-one-off-gain-clouds-strong-margin\">网页链接</a>\n\n</div>\n","source":"simplywall_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ASL Marine Holdings (SGX:A04) One Off Gain Clouds Strong Margin Narrative In H1 2026</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nASL Marine Holdings (SGX:A04) One Off Gain Clouds Strong Margin Narrative In H1 2026\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-15 05:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://simplywall.st/stocks/sg/capital-goods/sgx-a04/asl-marine-holdings-shares/news/asl-marine-holdings-sgxa04-one-off-gain-clouds-strong-margin><strong>Simply Wall St.</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ASL Marine Holdings (SGX:A04) has reported a busy set of numbers for H1 2026, with total revenue of S$177.9 million and basic EPS of S$0.0133, alongside trailing twelve month revenue of S$359.5 ...</p>\n\n<a href=\"https://simplywall.st/stocks/sg/capital-goods/sgx-a04/asl-marine-holdings-shares/news/asl-marine-holdings-sgxa04-one-off-gain-clouds-strong-margin\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6504","symbol_name":"工业制品概念","start_time":0,"source_url":"https://simplywall.st/stocks/sg/capital-goods/sgx-a04/asl-marine-holdings-shares/news/asl-marine-holdings-sgxa04-one-off-gain-clouds-strong-margin","article_id":"2611919142","we_media_id":null,"thumbnails":["https://images.simplywall.st/asset/industry/3071000-choice1-main-header/1585186812179"],"rights":{"source":"simplywall_highlight","url":"https://simplywall.st/stocks/sg/capital-goods/sgx-a04/asl-marine-holdings-shares/news/asl-marine-holdings-sgxa04-one-off-gain-clouds-strong-margin","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2611919142","pubTimestamp":1771103714,"columns":[],"sourceInfo":{"source_id":"simplywall_highlight","name":"Simply Wall St."},"weMediaInfo":null,"summary":"ASL Marine Holdings (SGX:A04) has reported a busy set of numbers for H1 2026, with total revenue of S$177.9 million and basic EPS of S$0.0133, alongside trailing twelve month revenue of S$359.5 million and EPS of S$0.0297. The company has seen revenue move from S$170.6 million in H2 2024 to S$172.2 million in H1 2025 and then to S$177.9 million in H2 2025. Over the same halves, net income (excluding extra items) went from S$2.4 million to S$1.5 million and then to S$13.1 million. This sets up...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK6504":"工业制品概念","BK6065":"建筑机械与重型卡车","A04.SI":"洪新刘海运控股有限公司"},"translate_title":"ASL Marine Holdings(SGX：A04)一次性收益给2026年上半年强劲的利润率蒙上阴影","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"A04.SI":1.5},"content_text":"ASL Marine Holdings (SGX:A04) has reported a busy set of numbers for H1 2026, with total revenue of S$177.9 million and basic EPS of S$0.0133, alongside trailing twelve month revenue of S$359.5 million and EPS of S$0.0297. The company has seen revenue move from S$170.6 million in H2 2024 to S$172.2 million in H1 2025 and then to S$177.9 million in H2 2025. Over the same halves, net income (excluding extra items) went from S$2.4 million to S$1.5 million and then to S$13.1 million. This sets up a story where margin trends and the quality of earnings are front and center for investors. See our full analysis for ASL Marine Holdings. With the headline figures on the table, the next step is to see how these results line up with the widely followed narratives around growth, profitability and risk that have built up around the stock. Curious how numbers become stories that shape markets? Explore Community Narratives SGX:A04 Earnings & Revenue History as at Feb 2026 AdvertisementMargins Lifted By 4.2% Net Profit Level  On a trailing basis, ASL Marine earned S$30.2 million of net income on S$359.5 million of revenue, which works out to a 4.2% net margin compared with 1.1% a year earlier. What stands out for a bullish view is that this higher margin sits alongside very strong reported earnings growth, with earnings up about 7x year on year and forecasts pointing to roughly 24% yearly earnings growth. However, part of that jump is tied to a one off S$8.1 million gain that investors who want a cleaner profitability picture will usually strip out when they think about how repeatable this margin level might be.\n     Supporters of the bullish angle typically focus on the combination of a 4.2% net margin and earnings that grew very strongly, which together suggest the current business mix can produce more profit from each dollar of revenue than in the prior year. At the same time, the presence of that S$8.1 million non recurring gain inside the last 12 months acts as a check on the bullish story because it lifts both EPS and margins in a way that is not automatically built into future periods.    To see how this margin shift sits within the bigger long term story, it is worth looking at how different investors frame the balance of upside and risk in their narratives for ASL Marine. 📊 Read the full ASL Marine Holdings Consensus Narrative. Premium P/E Versus Peers At 22.6x  The shares trade on a trailing P/E of 22.6x, above the Singapore peer average of 10.2x and below the wider Asian Machinery group at 25.9x, while a DCF fair value of S$0.22 sits under the current S$0.32 share price. Critics who take a more cautious stance point out that paying more than double the local peer P/E while the quoted price is also above the S$0.22 DCF fair value leaves less room for error, especially when part of the recent earnings strength comes from the S$8.1 million one off gain rather than underlying trading.\n     That premium 22.6x multiple is being placed on trailing EPS that benefited from the one off item, so if you mentally remove the S$8.1 million gain the effective multiple on underlying earnings would be higher than what the headline P/E suggests. With the stock at S$0.32 compared with the S$0.22 DCF fair value, cautious investors may argue that anyone buying today is paying up in advance for the forecast earnings growth rather than getting it at a discount.    Strong Growth But Weak Interest Coverage  Over the last 12 months, earnings rose very sharply and are forecast to grow about 24% per year while revenue is expected to rise around 5.3% per year, yet interest payments are flagged as not being well covered by earnings. The tension many investors focus on is that the strong growth profile and higher 4.2% trailing net margin look attractive on paper, but the major risk called out is weak interest coverage, meaning a bigger slice of those profits may be required just to service debt if conditions tighten.\n     On the reward side, revenue of S$359.5 million and net income of S$30.2 million show that the business is currently earning more than in the prior year, which is the basis for the positive growth outlook. On the risk side, the fact that interest payments are not well covered by those earnings means that even with higher profits, the balance sheet still needs close attention because financing costs can eat into shareholder returns.     Next Steps Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on ASL Marine Holdings's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move. See What Else Is Out There ASL Marine carries a premium P/E, relies partly on a one off gain, and has weak interest coverage, so its balance sheet risk stands out. If that mix of richer pricing and fragile interest cover makes you uneasy, check out our solid balance sheet and fundamentals stocks screener (371 results) to focus on companies where debt looks far more manageable.  This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}