Linkers Industries Limited

LNKS

Manufacturing - Metal Fabrication · Industrials

Price

$1.27

-0.13 (-9.29%)

Market Cap

$68,249

Exchange

NASDAQ Global Select

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

Linkers Industries Limited is a small metal fabrication company based in Malaysia. It makes metal components and structural parts used in construction and industrial applications. Its customers are typically contractors, builders, and manufacturers that need fabricated steel and metal products.

The company earns revenue by selling fabricated metal products directly to customers, operating primarily in Malaysia and the surrounding Southeast Asian region. With a gross margin of just 11% and a deeply negative operating margin, Linkers is currently spending more than it earns, which is a serious concern. The metal fabrication industry is highly competitive with low barriers to entry, meaning Linkers faces constant price pressure from other local and regional manufacturers. The main challenge ahead is cutting costs and winning enough contracts to reach profitability before its financial position deteriorates further.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

EPS data limited

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

62.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~15 months

$8M cash & investments

Quarterly Free Cash Flow

Adequate runway but may need to raise capital within 2 years

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

0.0% over 2y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 54K (2022) → 54K (2024)

Score breakdown

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Quality

Gross Margin

10.0%

Thin — 10.0% gross margin

Operating Margin

-6.9%

Losing money on operations — -6.9%

ROCE

-7.5%

Weak — -7.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-34.6%

—

Shrinking sales (-34.6% YoY)

EPS YoY

-1194.9%

—

Earnings shrinking (-1194.9% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

N/A

—

Data not available

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

3.9%

Thin free cash flow (3.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.21

Conservative — low debt load (0.21)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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