Multi Ways Holdings Limited(MWG)Earnings, Financials & Key Ratios
MWG•AMEX
$1.92
$64M mkt cap·Price updated May 6, 2026
AboutMulti Ways Holdings Limited supplies a range of heavy construction equipment for sales and rental in Singapore, Australia, and internationally. The company engages in the supplying and rental of new and used heavy construction equipment in the infrastructure, building construction, mining, offshore and marine, and oil and gas industries. It offers earth-moving equipment, such as bulldozers, off-terrain dump trucks, excavators, and wheel loaders; material-handling equipment such as crawler cranes, rough terrain cranes, scissor lifts, forklifts, boom-lifts, and telescopic handlers; road-building equipment comprising motor graders, vibrating compactors, asphalt finishers, skid loaders, backhoe loaders, hand rollers, and mini excavators; and air compressors, generators, lighting towers, and welding machines. The company was founded in 1988 and is headquartered in Singapore. Multi Ways Holdings Limited operates as a subsidiary of MWE Investments Limited.Show more
- Revenue$31M-13.7%
- EBITDA-$729K+44.1%
- Net Income-$3M-259.5%
- EPS (Diluted)-0.07-210.0%
- Gross Margin31.27%+34.4%
- EBITDA Margin-2.35%+35.2%
- Operating Margin-6.24%+27.0%
- Net Margin-9.19%-285.0%
- ROE-13.62%-207.1%
- ROIC-4.39%+52.0%
- Debt/Equity1.09+86.5%
- Interest Coverage-1.29+53.8%
MWG Key Insights
Multi Ways Holdings Limited (MWG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
✗Weaknesses
- ✗Weak Piotroski F-Score: 1/9
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 15 (bottom 15%)
- ✗Thin 5Y average net margin of 1.6%
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
MWG Price & Volume
Multi Ways Holdings Limited (MWG) stock price & volume — 10-year historical chart
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MWG Growth Metrics
Multi Ways Holdings Limited (MWG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-2.39%
TTM-6.53%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-138.32%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-101.07%
Return on Capital
10 Years0.18%
5 Years0.18%
3 Years-1.67%
Last Year-7.56%
MWG Peer Comparison
Multi Ways Holdings Limited (MWG) competitors in Commercial equipment rental and dealer fleets — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CODA | 134.35M | 11.92 | 32.22 | 30.75% | 14.78% | 7.17% | 0.01 | |
 ITRN | 1.38B | 58.89 | 20.17 | 6.77% | 16.15% | 27.27% | 0.02 | |
 PERI | 477.39M | 10.65 | -56.05 | -11.71% | -1.8% | -1.17% | 0.06 | |
 ROAD | 7.47B | 134.95 | 73.34 | 54.2% | 3.99% | 12.59% | 1.85 | |
 MYRG | 7.08B | 454.78 | 60.40 | 8.79% | 3.71% | 22.14% | 0.16 | |
 PRIM | 5.5B | 101.37 | 20.19 | 18.97% | 3.31% | 15.21% | 0.76 | |
 GLDD | 1.14B | 17.00 | 15.74 | 16.47% | 8.27% | 14.83% | 0.89 | |
 STRL | 27.19B | 886.22 | 94.48 | 17.69% | 12.02% | 32.26% | 0.32 |
Compare MWG vs Peers
Multi Ways Holdings Limited (MWG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MWG Income Statement
Multi Ways Holdings Limited (MWG) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|
| Sales/Revenue | 29.89M | 33.41M | 38.36M | 36.02M | 31.07M |
| Revenue Growth % | - | 11.78% | 14.83% | -6.11% | -13.74% |
| Cost of Goods Sold | 23.04M | 24.05M | 28.62M | 27.64M | 21.35M |
| COGS % of Revenue | 77.11% | 71.99% | 74.6% | 76.73% | 68.73% |
| Gross Profit | 6.84M▲ 0% | 9.36M▲ 36.8% | 9.74M▲ 4.1% | 8.38M▼ 14.0% | 9.71M▲ 15.9% |
| Gross Margin % | 22.89% | 28.01% | 25.4% | 23.27% | 31.27% |
| Gross Profit Growth % | - | 36.76% | 4.11% | -13.98% | 15.91% |
| Operating Expenses | 6.87M | 7.61M | 8.17M | 11.73M | 11.65M |
| OpEx % of Revenue | 22.97% | 22.79% | 21.29% | 32.56% | 37.5% |
| Selling, General & Admin | 5.43M | 5.86M | 6.36M | 9.69M | 9.46M |
| SG&A % of Revenue | 18.17% | 17.54% | 16.59% | 26.89% | 30.44% |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - |
| Other Operating Expenses | 890K | 724K | 1.8M | 0 | 2.19M |
| Operating Income | -605K▲ 0% | 1.63M▲ 370.1% | 2.39M▲ 46.2% | -3.08M▼ 228.8% | -1.94M▲ 37.0% |
| Operating Margin % | -2.02% | 4.89% | 6.23% | -8.55% | -6.24% |
| Operating Income Growth % | - | 370.08% | 46.21% | -228.84% | 37.04% |
| EBITDA | 607.86K | 2.82M | 3.57M | -1.3M | -729K |
| EBITDA Margin % | 2.03% | 8.45% | 9.31% | -3.62% | -2.35% |
| EBITDA Growth % | - | 364.31% | 26.47% | -136.56% | 44.14% |
| D&A (Non-Cash Add-back) | 1.21M | 1.19M | 1.18M | 1.77M | 1.21M |
| EBIT | 2.18M | 2.75M | 1.5M | 2.79M | -1.66M |
| Net Interest Income | -844K | -697K | -748K | -1.05M | -1.28M |
| Interest Income | 14K | 19K | 0 | 57K | 220K |
| Interest Expense | 858K | 716K | 748K | 1.1M | 1.5M |
| Other Income/Expense | 1.93M | 397K | -832K | 4.76M | -1.23M |
| Pretax Income | 1.32M▲ 0% | 2.03M▲ 53.6% | 1.56M▼ 23.3% | 1.69M▲ 8.3% | -3.16M▼ 287.7% |
| Pretax Margin % | 4.42% | 6.08% | 4.06% | 4.68% | -10.18% |
| Income Tax | 3K | 230K | 529K | -53K | -310K |
| Effective Tax Rate % | 0.23% | 11.32% | 33.98% | -3.14% | 9.8% |
| Net Income | 1.32M▲ 0% | 1.8M▲ 36.5% | 978K▼ 45.7% | 1.79M▲ 82.9% | -2.85M▼ 259.5% |
| Net Margin % | 4.41% | 5.39% | 2.55% | 4.97% | -9.19% |
| Net Income Growth % | - | 36.54% | -45.7% | 82.92% | -259.53% |
| Net Income (Continuing) | 1.32M | 1.8M | 1.03M | 1.74M | -2.85M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 50K | 0 | 0 |
| EPS (Diluted) | 0.01▲ 0% | 0.01▲ 40.6% | 0.03▲ 146.7% | 0.06▲ 83.5% | -0.07▼ 210.0% |
| EPS Growth % | - | - | 146.67% | 83.48% | -209.98% |
| EPS (Basic) | 0.01 | 0.01 | 0.03 | 0.06 | -0.07 |
| Diluted Shares Outstanding | 99.2M | 99.2M | 30.84M | 29.28M | 31.76M |
| Basic Shares Outstanding | 99.2M | 99.2M | 30.84M | 29.28M | 31.71M |
| Dividend Payout Ratio | - | - | 7.87% | 588.26% | - |
MWG Balance Sheet
Multi Ways Holdings Limited (MWG) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|
| Total Current Assets | 40.45M | 45.12M | 44.07M | 52.38M | 65M |
| Cash & Short-Term Investments | 325K | 1.53M | 1.33M | 9.28M | 3.31M |
| Cash Only | 325K | 1.53M | 1M | 7.07M | 3.26M |
| Short-Term Investments | 0 | 0 | 325K | 242K | 47K |
| Accounts Receivable | 6.35M | 5.6M | 11.3M | 6.24M | 16.6M |
| Days Sales Outstanding | 77.58 | 61.14 | 107.53 | 63.27 | 194.99 |
| Inventory | 30.39M | 32.87M | 31.44M | 36.69M | 45.1M |
| Days Inventory Outstanding | 481.32 | 498.94 | 401.03 | 484.61 | 770.89 |
| Other Current Assets | 0 | 0 | 0 | 166K | 0 |
| Total Non-Current Assets | 11.58M | 9.5M | 8.71M | 5.62M | 4.58M |
| Property, Plant & Equipment | 11.58M | 9.49M | 8.71M | 3.41M | 2.37M |
| Fixed Asset Turnover | 2.58x | 3.52x | 4.41x | 10.56x | 13.14x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 2.2M | 2.2M |
| Other Non-Current Assets | 0 | 0 | 0 | 11K | 0 |
| Total Assets | 52.03M▲ 0% | 54.62M▲ 5.0% | 52.79M▼ 3.3% | 58M▲ 9.9% | 69.58M▲ 20.0% |
| Asset Turnover | 0.57x | 0.61x | 0.73x | 0.62x | 0.45x |
| Asset Growth % | - | 4.96% | -3.35% | 9.88% | 19.95% |
| Total Current Liabilities | 26.23M | 40.67M | 41.19M | 31.48M | 44.8M |
| Accounts Payable | 5.07M | 4.41M | 4.78M | 4.76M | 6.94M |
| Days Payables Outstanding | 80.23 | 66.98 | 60.98 | 62.84 | 118.63 |
| Short-Term Debt | 9.22M | 7.41M | 8.86M | 19.11M | 12.64M |
| Deferred Revenue (Current) | 4.73M | 10.43M | 5.88M | 0 | 5.57M |
| Other Current Liabilities | 5.19M | 15.99M | 18.64M | 3.55M | 0 |
| Current Ratio | 1.54x | 1.11x | 1.07x | 1.66x | 1.45x |
| Quick Ratio | 0.38x | 0.30x | 0.31x | 0.50x | 0.44x |
| Cash Conversion Cycle | 478.68 | 493.11 | 447.59 | 485.03 | 847.25 |
| Total Non-Current Liabilities | 10.06M | 8.58M | 5.29M | 4.7M | 4.69M |
| Long-Term Debt | 7.18M | 4.91M | 3.17M | 431K | 0 |
| Capital Lease Obligations | 2.88M | 3.67M | 2.11M | 4.26M | 4.69M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 36.29M | 49.26M | 46.47M | 36.17M | 49.49M |
| Total Debt | 21.27M | 17.94M | 17.64M | 12.77M | 21.91M |
| Net Debt | 20.94M | 16.41M | 16.63M | 5.69M | 18.65M |
| Debt / Equity | 1.35x | 3.35x | 2.79x | 0.58x | 1.09x |
| Debt / EBITDA | 34.98x | 6.36x | 4.94x | - | - |
| Net Debt / EBITDA | 34.45x | 5.81x | 4.66x | - | - |
| Interest Coverage | -0.71x | 2.28x | 3.19x | -2.79x | -1.29x |
| Total Equity | 15.74M▲ 0% | 5.36M▼ 66.0% | 6.31M▲ 17.8% | 21.83M▲ 245.8% | 20.09M▼ 8.0% |
| Equity Growth % | - | -65.96% | 17.81% | 245.8% | -7.98% |
| Book Value per Share | 0.16 | 0.05 | 0.20 | 0.75 | 0.63 |
| Total Shareholders' Equity | 15.74M | 5.36M | 6.26M | 21.83M | 20.09M |
| Common Stock | 6K | 6K | 6K | 8K | 9K |
| Retained Earnings | 10.3M | 257K | 1.24M | 3.02M | 170K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | -345K | -419K | -150K | -234K |
| Minority Interest | 0 | 0 | 50K | 0 | 0 |
MWG Cash Flow Statement
Multi Ways Holdings Limited (MWG) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|---|---|
| Cash from Operations | 1.66M | 5.63M | 833K | 55K | -12.91M |
| Operating CF Margin % | 5.54% | 16.85% | 2.17% | 0.15% | -41.56% |
| Operating CF Growth % | - | 239.98% | -85.2% | -93.4% | -23572.73% |
| Net Income | 1.32M | 2.03M | 1.56M | 1.33M | -3.16M |
| Depreciation & Amortization | 1.67M | 1.6M | 1.63M | 1.32M | 1.21M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 1.2M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 1.92M | 1.09M | 191K | -2.78M | 1.55M |
| Working Capital Changes | -3.26M | 909K | -2.54M | 182K | -13.7M |
| Change in Receivables | 4.76M | -1.19M | -942K | 1.31M | -1.27M |
| Change in Inventory | -5.73M | -2.76M | 940K | 2.7M | -9.33M |
| Change in Payables | -1.48M | -1.33M | 1.89M | -1.58M | 2.04M |
| Cash from Investing | -565K | 343K | -1.14M | 6.81M | 26K |
| Capital Expenditures | -637K | 0 | -817K | -1.96M | -598K |
| CapEx % of Revenue | 2.13% | - | 2.13% | 5.43% | 1.92% |
| Acquisitions | 52.2K | 255.23K | 1.45K | 0 | 0 |
| Investments | - | - | - | - | - |
| Other Investing | 19.8K | 87.77K | 2K | 8.71M | 464K |
| Cash from Financing | -899K | -4.76M | -219K | -875K | 9.22M |
| Debt Issued (Net) | -899K | -4.76M | -158.81K | -3.86M | 9.22M |
| Equity Issued (Net) | 0 | 0 | 0 | 1000K | 0 |
| Dividends Paid | 0 | 0 | -77K | -10.52M | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 77K | 3.45M | 0 |
| Net Change in Cash | 192K▲ 0% | 1.21M▲ 529.2% | -530K▼ 143.9% | 6.07M▲ 1245.3% | -3.81M▼ 162.9% |
| Free Cash Flow | 1.02M▲ 0% | 5.63M▲ 452.5% | 16K▼ 99.7% | -1.9M▼ 11975.0% | -13.51M▼ 610.9% |
| FCF Margin % | 3.41% | 16.85% | 0.04% | -5.28% | -43.48% |
| FCF Growth % | - | 452.5% | -99.72% | -11975% | -610.95% |
| FCF per Share | 0.01 | 0.06 | 0.00 | -0.06 | -0.43 |
| FCF Conversion (FCF/Net Income) | 1.26x | 3.13x | 0.85x | 0.03x | 4.52x |
| Interest Paid | 0 | 0 | 748K | 1.05M | 803K |
| Taxes Paid | 0 | 0 | 40K | 675K | 18K |
MWG Key Ratios
Multi Ways Holdings Limited (MWG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Return on Equity (ROE) | 8.38% | 17.07% | 16.76% | 12.72% | -13.62% |
| Return on Invested Capital (ROIC) | -1.24% | 4.19% | 8.01% | -9.15% | -4.39% |
| Gross Margin | 22.89% | 28.01% | 25.4% | 23.27% | 31.27% |
| Net Margin | 4.41% | 5.39% | 2.55% | 4.97% | -9.19% |
| Debt / Equity | 1.35x | 3.35x | 2.79x | 0.58x | 1.09x |
| Interest Coverage | -0.71x | 2.28x | 3.19x | -2.79x | -1.29x |
| FCF Conversion | 1.26x | 3.13x | 0.85x | 0.03x | 4.52x |
| Revenue Growth | - | 11.78% | 14.83% | -6.11% | -13.74% |
MWG Frequently Asked Questions
Multi Ways Holdings Limited (MWG) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Multi Ways Holdings Limited (MWG) reported $67.1M in revenue for fiscal year 2024. This represents a 124% increase from $29.9M in 2020.
Multi Ways Holdings Limited (MWG) saw revenue decline by 13.7% over the past year.
Multi Ways Holdings Limited (MWG) reported a net loss of $1.1M for fiscal year 2024.
Dividend & Returns
Multi Ways Holdings Limited (MWG) has a return on equity (ROE) of -13.6%. Negative ROE indicates the company is unprofitable.
Multi Ways Holdings Limited (MWG) had negative free cash flow of $15.4M in fiscal year 2024, likely due to heavy capital investments.
Explore More MWG
Multi Ways Holdings Limited (MWG) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
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Dividend History
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Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates