$Soup Holdings(5KI.SI)$ Source: Tiger AI

What do you think of Soup holdings?

Based on the latest data for Soup Holdings (5KI.SI), the company is facing earnings deterioration and management transition, signaling a challenging outlook.

Conclusion: Weak fundamentals and negative momentum

Soup Holdings is currently unprofitable (negative P/E of -12.96x), with earnings per share declining over the last two fiscal years. The stock is trading at a relatively high Price-to-Book ratio of 2.34x despite negative ROE (-16.39%), and daily trading volume is extremely thin (only 500 shares). Recent management departures and elevated geopolitical cost risks add further uncertainty.

Key Information

Profitability Deterioration: The company has reported negative earnings per share for FY2025 and a negative Return on Equity (ROE) of -16.39%. Net income was -1.23M SGD in the latest fiscal year.

Valuation Disconnect: With a negative P/E and a Price-to-Book ratio of 2.34x, the stock is valued at a premium to its tangible book value while the business is destroying shareholder equity. At a share price of SGD 0.057, the stock is trading at 0.42x sales.

Management Risk: The managing director, Wong Chi Keong, resigned effective April 28, 2026 2. Co-founder Wong Wei Teck has been re-designated as CEO, centralizing leadership amid geopolitical uncertainty 34.

Geopolitical & Cost Exposure: The company stated its exposure to Iran war-related disruption, including a potential blockade of the Straits of Hormuz, is manageable but requires tighter cost control and selective price reviews 1.

Risk Factors

Low Liquidity: Trading volume of only 500 shares and a volume ratio of 0.03 indicates severe illiquidity, making it difficult to enter or exit positions without affecting the price. (<-----James Ang got stuck🤭🤭🤭)

Negative Earnings Trend: Earnings per share have declined consistently over the past three fiscal years (from 0.04 to negative 0.00), and the company is currently unprofitable (ROE -16.39%).