JBB Builders International H1 2026 TTM Loss Tests Bullish Margin Recovery Narratives

Simply Wall St.02-25 18:28

JBB Builders International (SEHK:1903) has released its H1 2026 scorecard, reporting trailing 12-month revenue of MYR392.857 million and a small net loss of MYR0.133 million, which translates to basic...

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The company’s reported half-year revenue has moved between MYR203.025 million in H2 2024 and MYR223.827 million in H1 2025. Over the same periods, basic EPS shifted from MYR0.012022 in H2 2024 to MYR0.003142 in H1 2025 and then to a MYR0.00048 loss in H2 2025,...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4523":"印度概念","BK4112":"金融交易所和数据","01903":"JBB BUILDERS","BK1148":"建筑与工程","BLSX":"Tradr 2X Long BLSH Daily ETF","BK4099":"汽车制造商","BLSG":"2倍做多BLSH ETF-Leverage Shares"},"translate_title":"JBB Builders International 2026年上半年TTM损失测试看涨的利润率复苏叙述","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BLSG":0.6,"01903":1.98,"BLSX":0.6},"content_text":"JBB Builders International (SEHK:1903) has released its H1 2026 scorecard, reporting trailing 12-month revenue of MYR392.857 million and a small net loss of MYR0.133 million, which translates to basic EPS of a MYR0.000258 loss. The company’s reported half-year revenue has moved between MYR203.025 million in H2 2024 and MYR223.827 million in H1 2025. Over the same periods, basic EPS shifted from MYR0.012022 in H2 2024 to MYR0.003142 in H1 2025 and then to a MYR0.00048 loss in H2 2025, outlining a picture where topline scale is holding while margins remain tight. See our full analysis for JBB Builders International. With the headline numbers on the table, the next step is to compare these results with the most common market stories around JBB Builders International to see which narratives align with the latest figures and which ones the current margin profile calls into question. Curious how numbers become stories that shape markets? Explore Community Narratives SEHK:1903 Revenue & Expenses Breakdown as at Feb 2026 AdvertisementTTM loss of MYR0.133m keeps profitability tight  Over the trailing 12 months to H1 2026, JBB Builders International recorded revenue of MYR392.857 million and a net loss of MYR0.133 million, compared with trailing net income of MYR1.331 million at H2 2025 and MYR7.582 million at H1 2025, so the company is currently running close to break even on a much larger sales base. What stands out for a more bullish view is that five year losses have been shrinking by about 15.4% per year, yet the latest trailing result has slipped back into a small loss, which tests the idea that the profit path is steadily improving:\n     Recent half year data shows net income moving from MYR6.011 million in H2 2024 to MYR1.571 million in H1 2025, then to a MYR0.24 million loss in H2 2025, so the trend over these three periods is toward thinner profitability. Because TTM basic EPS has moved from MYR0.015164 at H1 2025 to a MYR0.000258 loss at H1 2026, the reduction in losses over five years sits next to a very flat earnings picture in the most recent stretch.    Revenue holds around MYR200m per half  On a half year basis, total revenue has sat in a fairly tight band, from MYR203.025 million in H2 2024 to MYR223.827 million in H1 2025 and MYR203.153 million in H2 2025, while earnings have moved from a MYR6.011 million profit to a MYR0.24 million loss, which shows that small shifts in margins have a much bigger effect on the bottom line than changes in sales volume. Viewed against a more cautious, bearish take, the figures highlight how sensitive profits are to small margin changes rather than big swings in demand:\n     Basic EPS went from MYR0.012022 in H2 2024 to MYR0.003142 in H1 2025 and then to a MYR0.00048 loss in H2 2025, even though revenue in H2 2024 and H2 2025 was almost identical, at about MYR203 million in each period. Trailing 12 month revenue also stayed high, at MYR426.852 million at H1 2025, MYR426.98 million at H2 2025 and MYR392.857 million at H1 2026, while TTM net income moved from MYR7.582 million to MYR1.331 million and then to a MYR0.133 million loss, which backs the concern that margins are tight and can swing results.    P/S of 1.9x sits between industry and peers  JBB Builders International is trading on a P/S of 1.9x, compared with about 0.5x for the broader Hong Kong Construction industry and 3.8x for its closer peer group, so the market is valuing each ringgit of sales at a higher level than the sector average but lower than more comparable companies. For investors weighing a more optimistic angle, the mix of this valuation with current profitability creates a clear tension:\n     On one hand, the company is unprofitable on a trailing basis, with a MYR0.133 million loss and a small TTM EPS loss, yet the P/S is almost 4x the broad industry level, which suggests the market is willing to look past the lack of current profits. On the other hand, the same 1.9x multiple is roughly half the 3.8x peer average, which may reflect that the company is still fine tuning margins even though its revenue base, at close to MYR400 million over the last 12 months, is sizeable.    Curious how other investors connect these tight margins, shrinking losses and that 1.9x P/S multiple into a single story about JBB Builders International's future? Curious how numbers become stories that shape markets? Explore Community Narratives 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 JBB Builders International'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. If the mix of tight margins and that 1.9x P/S feels unclear, take a moment to review the full picture for yourself and move quickly from headline to informed view. To round this out, it is worth checking the 1 important warning sign that our model has flagged for the company. See What Else Is Out There JBB Builders International is working with tight margins and recent trailing losses, so earnings and EPS have been sensitive to relatively small changes in profitability. If that fragility around profits gives you pause, check out our 322 resilient stocks with low risk scores to focus on companies where earnings stability and risk scores may feel more reassuring.  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. 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