JE Cleantech Holdings Ltd is a US-listed company in the industrial machinery & supplies & components industry. Its financial year ends in December.
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~$6.2
Revenue-to-maturity cash-flow model
Base case. Range ~$5.2–$7.4 across our lower- and higher-growth cases (2.7%–12.7% a year).
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
JE Cleantech Holdings Ltd valuation: adjust assumptions and compare models →
Revenue for the twelve months was $16m, up 7.7% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin fell to 9.1% from 17.5% a year earlier. Operating margin widened to 3.0% from 0.4%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $6.17 a share, against a share price of $1.63.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
JE Cleantech Holdings Ltd's trailing-twelve-month revenue grew 7.7% year on year, with a free-cash-flow margin of 9.1%. Where it stands out: net margin of 15.9% ranks 12 of 76 industrial machinery & supplies & components companies we cover. Where it lags: days sales outstanding of 135 days ranks 63 of 65 industrial machinery & supplies & components companies we cover.
Current signal Free cash flow diverging from earnings: TTM free cash flow grew 137.5% while net income grew 10245.0%: a 10108pp divergence.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for JCSE from the sources we follow. See filings →
We value JE Cleantech Holdings Ltd as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.05 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | ~$6.2 ~$5.2–$7.4 | Primary model, counts double |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$6.2 ~$5.2–$7.4 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare JE Cleantech Holdings Ltd with Industrial Machinery & Supplies & Components in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
No analyst estimates are published for JE Cleantech Holdings Ltd: too few analysts cover it.
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue (TTM) |
|---|---|
| FY19 Q4 | $13.4M |
| FY20 Q4 | $15.5M |
| FY21 Q4 | $11M |
| FY22 Q4 | $13.5M |
| FY23 Q4 | $13.4M |
| FY24 Q4 | $14.4M |
| FY25 Q4 | $15.5M |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY20 Q4 | 16.1% |
| FY21 Q4 | -29.2% |
| FY22 Q4 | 23.0% |
| FY23 Q4 | -0.6% |
| FY24 Q4 | 7.4% |
| FY25 Q4 | 7.7% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Operating margin (TTM) |
|---|---|
| FY19 Q4 | 12.7% |
| FY20 Q4 | 16.5% |
| FY21 Q4 | 0.4% |
| FY22 Q4 | 9.5% |
| FY23 Q4 | 5.6% |
| FY24 Q4 | -0.2% |
| FY25 Q4 | 3.0% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | FCF margin (TTM) |
|---|---|
| FY19 Q4 | 5.1% |
| FY20 Q4 | 3.9% |
| FY21 Q4 | 17.5% |
| FY22 Q4 | -32.5% |
| FY23 Q4 | 6.5% |
| FY24 Q4 | 4.1% |
| FY25 Q4 | 9.1% |
| Fiscal year | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|---|---|---|
| Income | |||||||
| Revenue | 13 | 16 | 11 | 14 | 13 | 14 | 16 |
| Gross profit | 4 | 4 | 2 | 4 | 3 | 4 | 4 |
| EBITDA | 2 | 3 | 1 | 2 | 1 | 1 | 1 |
| Operating income | 2 | 3 | 0 | 1 | 1 | −0 | 0 |
| Net income | 0 | 1 | 0 | 1 | 0 | 0 | 2 |
| Diluted EPS | — | — | $0.00 | $0.18 | $0.07 | $0.00 | $0.47 |
| Growth (year on year) | |||||||
| Revenue | — | +16.1% | −29.2% | +23.0% | −0.6% | +7.4% | +7.7% |
| EBITDA | — | +29.5% | −83.9% | +252.9% | −27.9% | −56.6% | +81.1% |
| Operating income | — | +51.1% | −98.3% | — | −41.2% | −103.0% | — |
| Net income | — | — | −99.9% | — | −55.3% | −93.8% | — |
| Diluted EPS | — | — | — | — | −58.9% | −100.0% | — |
| Margins | |||||||
| Gross margin | 27.2% | 27.6% | 15.9% | 27.5% | 24.2% | 26.9% | 28.5% |
| EBITDA margin | 18.0% | 20.1% | 4.6% | 13.1% | 9.5% | 3.8% | 6.4% |
| Operating margin | 12.7% | 16.5% | 0.4% | 9.5% | 5.6% | −0.2% | 3.0% |
| Net margin | 1.9% | 8.1% | 0.0% | 6.4% | 2.9% | 0.2% | 15.9% |
| Free-cash-flow margin | 5.1% | 3.9% | 17.5% | −32.5% | 6.5% | 4.1% | 9.1% |
| Cash flow | |||||||
| Cash from operations | 1 | 1 | 3 | −4 | 1 | 2 | 2 |
| Capital spending | 0 | 0 | 1 | 1 | 0 | 1 | 1 |
| Free cash flow | 1 | 1 | 2 | −4 | 1 | 1 | 1 |
| Stock-based pay | — | — | — | — | — | 0 | — |
| Free cash flow after stock pay | — | — | — | — | — | 0 | — |
| Balance sheet | |||||||
| Cash | — | 0 | 1 | 5 | 4 | 4 | 8 |
| Total debt | — | 8 | 7 | 7 | 6 | 6 | 3 |
| Net debt (negative = net cash) | — | 8 | 6 | 2 | 2 | 2 | −5 |
| Diluted shares | 12m | 12m | 4,000m | 5m | 5m | 5m | 5m |
| Returned to shareholders | |||||||
| Dividends | 1 | — | 2 | — | — | 0 | — |
| Total returned | 1 | — | 2 | — | — | 0 | — |
| Last 12 months unless stated | JCSE | INLF | AETR | TGEN | FTEK | CVR | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $16m | $18m | $23m | $25m | $27m | $27m | $1.4bn |
| Revenue growth, last 12 months | 7.7% | 16.5% | −42.7% | −6.5% | 8.9% | 7.1% | 8.3% |
| Revenue growth, 3-year average | — | — | −47.8% | 1.8% | −0.6% | −5.2% | 4.0% |
| Revenue growth, latest quarter | — | — | — | −21.2% | 16.7% | −0.8% | 9.1% |
| Gross margin | 28.5% | 23.3% | 11.5% | 36.2% | 44.7% | 11.0% | 35.2% |
| Operating margin | 3.0% | −31.6% | −61.0% | −42.8% | −16.8% | −8.3% | 13.1% |
| Operating margin, 3-year average | — | — | −27.5% | −25.9% | −15.5% | −13.0% | 13.7% |
| Net margin | 15.9% | −29.6% | −264.3% | −42.3% | −12.8% | −8.9% | 8.9% |
| Cash from operations / revenue | 13.2% | −10.3% | −61.1% | −47.2% | −0.8% | −3.6% | 11.9% |
| Free-cash-flow margin | 9.1% | −11.3% | −72.6% | −48.2% | −4.3% | −5.2% | 8.8% |
| Free-cash-flow margin, 3-year average | — | — | −34.8% | −18.7% | −4.0% | −5.3% | 9.8% |
| Stock pay / revenue | 2.4% | 27.9% | 3.5% | 1.8% | 0.8% | — | 0.8% |
| Change in share count | 0.0% | 32.6% | 0.6% | 18.6% | 1.5% | 0.0% | −0.0% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 7.7% | 8.3% | 43 of 75 |
| Change in growth rate Growth | +0.3pp | +1.2pp | 50 of 75 |
| Gross margin Profitability | 28.5% | 35.4% | 52 of 70 |
| Operating margin Profitability | 3.0% | 13.0% | 55 of 75 |
| Net margin Profitability | 15.9% | 8.9% | 12 of 76 |
| Free-cash-flow margin Cash generation | 9.1% | 9.1% | 38 of 76 |
| Stock pay as % of revenue Cash generation | 2.4% | 0.8% | 60 of 70 |
| Change in share count Balance sheet | 0.0% | -0.0% | 38 of 73 |
| Days sales outstanding Balance sheet | 135 days | 63 days | 63 of 65 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Two Sigma Investments, LP | $81,927 | 58K | 61.5% | New |
| Renaissance Technologies LLC | $35,827 | 25K | 26.9% | New |
| Xtx Topco Ltd | $14,657 | 10K | 11.0% | New |
| Osaic Holdings, Inc. | $767 | 1K | 0.6% | ▲ 140.4% |
| UBS Group AG | $80 | 0K | 0.1% | ▼ 70.2% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not JE Cleantech Holdings Ltd's complete shareholder register. Values are as reported by the filers .
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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