TUAS LIMITED (TUA)
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TUA

TUA - TUAS LIMITED

FNArena Sector : Telecommunication
Year End: July
GICS Industry Group : Telecommunication Services
Debt/EBITDA: 0.02
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$6.85

06 Oct
2025

-0.180

OPEN

$7.03

-2.56%

HIGH

$7.06

840,268

LOW

$6.81

TARGET
$9.725 42.0% upside
OTHER COMPANIES IN THE SAME SECTOR
5GG . 5GN . ABB . CNU . ESK . MAQ . SLC . SPK . ST1 . TLS . TPG . TPG .
FNARENA'S MARKET CONSENSUS FORECASTS
TUA: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 1.7 3.7 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A 100.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 187.7 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920212022202320242025
EPS Basic xxxxxxxxxxxxxxx1.7
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx177.4 M
Book Value Per Share xxxxxxxxxxxxxxx114.1
Net Operating Cash Flow xxxxxxxxxxxxxxx95.2 M
Net Profit Margin xxxxxxxxxxxxxxx4.56 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx1.56 %
Return on Invested Capital xxxxxxxxxxxxxxx1.56 %
Return on Assets xxxxxxxxxxxxxxx1.42 %
Return on Equity xxxxxxxxxxxxxxx1.56 %
Return on Total Capital xxxxxxxxxxxxxxx2.43 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx31.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx1 M
Long Term Debt xxxxxxxxxxxxxxx1 M
Total Debt xxxxxxxxxxxxxxx1 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx97 M
Price To Book Value xxxxxxxxxxxxxxx4.71

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920212022202320242025
Capex xxxxxxxxxxxxxxx64.5 M
Capex % of Sales xxxxxxxxxxxxxxx36.35 %
Cost of Goods Sold xxxxxxxxxxxxxxx140 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx25 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

25/09/2025

1

Overweight

$9.50

38.69%

Tuas reported FY25 results broadly in line with pre-guidance, with revenue 2% ahead of Morgan Stanley’s forecasts and earnings (EBITDA) 3% higher.

Earnings margins were stronger at 45.2%, up 70bps versus the broker's forecast, while FY26 capex guidance of -SGD50-55m remains modest.

The analysts observe mobile subscriber growth of 19% year-on-year to 1.25m, in line with forecasts, with net additions of 94k in 2H25.

Broadband subscribers of 25.6k were below Morgan Stanley's expectations, though still early in rollout. Mobile average revenue per user (ARPU) eased slightly to SGD9.60 per month.

Operating cash flow (OCF) of SGD81.2m supported strong cash conversion of 118%, note the analysts, lifting cash by SGD25.4m to SGD80.7m.

Tuas continues to progress its M1 acquisition, with approval expected in coming months.

Overweight rating. Target $9.50. Industry View: In-line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.00 cents.
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EXTRA COVERAGE
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No. Of Recommendations

0

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY
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TUA STOCK CHART

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