olivLaw · US equity research
YYForce Inc. YFOR
Services-Help Supply Services · SIC 7363 · Vertical: Services-Help Supply Services (SIC 7363)
YYForce Inc. is a Singapore-based company providing temporary staffing and professional cleaning services through its YY App digital platform. Revenue growth in 2025 was strong, but the net loss widened considerably, so margin developments merit close attention. Revenue reached 57.2 million USD and the loss 21.6 million USD.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, YYForce Inc. (YFOR) stock was 0.13 USD (−4.48% on the day), with market capitalisation 4.3 m USD, beta 1.41, 52-week range 0.13–438.00 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 22.4
- oversold (≤ 30)
- Bollinger (20, 2)
- -0.24 – 1.03
- in the lower half of the band · %B 0.29 · band width 317.8%
- SMA 50 / 200
- 1.05 / 60.16
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.29 / -0.30
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −90.7% | −1.1% | −89.6 pp | — |
| 3 months | −89.3% | −0.5% | −88.9 pp | — |
| 6 months | −99.6% | +4.4% | −104.0 pp | — |
| Year to date | −100.0% | +12.3% | −112.3 pp | — |
| 1 year | −100.0% | +13.5% | −113.5 pp | +54.7% |
| 3 years | unavailable | +76.4% | unavailable | −37.8% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 17.5 m | 20.0 m | 31.8 m | 41.1 m |
| Revenue YoY | unavailable | +14.7% | +58.7% | +29.4% |
| Net income | 362.9 k | 761.6 k | 852.3 k | -4.8 m |
| Net income YoY | unavailable | +109.9% | +11.9% | −667.6% |
| Diluted EPS | 0.01 | 0.02 | 0.02 | -0.14 |
| Diluted EPS YoY | unavailable | +100.0% | 0.0% | −800.0% |
| net % | 2.1% | 3.8% | 2.7% | -11.8% |
| Free cash flow | 182.9 k | 823.2 k | -172.5 k | -1.6 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2024 · 31 Dec 2024
- Cash
- 836.9 k USD
- Financial debt
- 3.3 m USD
- Net debt
- 2.5 m USD
- Equity
- 6.2 m USD
- Total assets
- 15.4 m USD
- Debt / equity
- 0.54x
- Current ratio
- 1.69x
- ROE
- -93.6%
- ROA
- -37.2%
- FCF margin
- -3.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|
| Revenue | 17.5 m | 20.0 m | 31.8 m | 41.1 m | SEC (XBRL)· 08 Apr 2025verified |
| Cost of revenue | 15.2 m | 17.5 m | 28.1 m | 35.8 m | SEC (XBRL)· 08 Apr 2025verified |
| Gross profit | 2.3 m | 2.6 m | 3.7 m | 5.3 m | SEC (XBRL)· 08 Apr 2025verified |
| Operating income | 517.8 k | 1.2 m | 1.4 m | -4.1 m | SEC (XBRL)· 08 Apr 2025verified |
| Interest expense | 169.6 k | 329.4 k | 328.6 k | 431.4 k | SEC (XBRL)· 08 Apr 2025verified |
| Pre-tax income | 348.2 k | 903.5 k | 1.1 m | -4.6 m | SEC (XBRL)· 08 Apr 2025verified |
| Income tax | -14.7 k | 142.2 k | 224.3 k | 275.9 k | SEC (XBRL)· 08 Apr 2025verified |
| Net income | 362.9 k | 761.6 k | 852.3 k | -4.8 m | SEC (XBRL)· 08 Apr 2025verified |
| Diluted EPS | 0.01 | 0.02 | 0.02 | -0.14 | SEC (XBRL)· 08 Apr 2025verified |
| Weighted average diluted shares | 28.8 m | 32.7 m | 37.9 m | 33.8 m | SEC (XBRL)· 08 Apr 2025verified |
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|
| Cash | 66.0 k | 161.0 k | 467.2 k | 836.9 k | SEC (XBRL)· 08 Apr 2025verified |
| Receivables | — | 2.6 m | 4.0 m | 4.0 m | SEC (XBRL)· 08 Apr 2025verified |
| Current assets | — | 5.2 m | 10.2 m | 13.4 m | SEC (XBRL)· 08 Apr 2025verified |
| Property, plant & equipment, net | — | 278.9 k | 368.6 k | 326.8 k | SEC (XBRL)· 08 Apr 2025verified |
| Total assets | — | 5.8 m | 10.7 m | 15.4 m | SEC (XBRL)· 08 Apr 2025verified |
| Accounts payable | — | 2.0 m | 3.0 m | 4.2 m | SEC (XBRL)· 08 Apr 2025verified |
| Short-term debt | — | 1.3 m | 2.9 m | 3.2 m | SEC (XBRL)· 08 Apr 2025verified |
| Long-term debt | — | 503.3 k | 523.6 k | 144.4 k | SEC (XBRL)· 08 Apr 2025verified |
| Current liabilities | — | 3.5 m | 6.0 m | 8.0 m | SEC (XBRL)· 08 Apr 2025verified |
| Total liabilities | — | 4.8 m | 6.5 m | 9.2 m | SEC (XBRL)· 08 Apr 2025verified |
| Equity | -66.7 k | 941.6 k | 4.1 m | 6.2 m | SEC (XBRL)· 08 Apr 2025verified |
| Shares outstanding at year end | — | — | 33.3 m | — | SEC (XBRL)· 14 May 2024verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|---|
| Operating cash flow | 424.1 k | 935.3 k | 51.7 k | -1.5 m | SEC (XBRL)· 08 Apr 2025verified |
| Capex | 241.2 k | 112.1 k | 224.2 k | 101.2 k | SEC (XBRL)· 08 Apr 2025verified |
| Free cash flow | 182.9 k ≈ | 823.2 k ≈ | -172.5 k ≈ | -1.6 m ≈ | SEC (XBRL)· 08 Apr 2025derived |
| Investing cash flow | -241.2 k | -112.1 k | -224.2 k | -101.2 k | SEC (XBRL)· 08 Apr 2025verified |
| Financing cash flow | -180.1 k | -726.3 k | 470.4 k | 2.1 m | SEC (XBRL)· 08 Apr 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 43.8% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 4.3 m USD
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
44% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 43.8% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -44.1% | 0 (vs peers) | 24% |
| Net margin · Quality | -11.8% | 6 (vs peers) | 14% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 33.0% | 100 (on a fixed band) | 19% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -9.6x | 0 (on a fixed band) | 14% |
| Current ratio · Balance sheet | 1.7x | 74 (on a fixed band) | 10% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -37.6% | 0 (on a fixed band) | 19% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet30/100 · 2/3 factors with a value
- Growth· partial100/100 · 1/2 factors with a value
- Quality2/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
YY Group Holding Ltd. (YFOR). Latest full fiscal year: 2024; data up to 2024-12-31.
Figures computed from the financial statements: revenue 41.1 m USD in 2024; YoY growth 29.4%; net margin -11.8%; ROE -94.1%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (score weight coverage: 43.8% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 33.0%
- Current ratio: 1.7x
What contradicts it
- ROIC: -44.1%
- Net margin: -11.8%
- Interest coverage: -9.6x
- FCF yield: -37.6%
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Help Supply Services (SIC 7363) · same industry (4-digit SIC) · compared with 16 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| RHIRobert Half Inc. | 4.6 bn | 37.2 | 9.8% | 2.3% | −7.2% | +66% / −45% |
| MANManpowergroup Inc. | 2.2 bn | 18.5 | 5.8% | 0.6% | +0.6% | +63% / −37% |
| NSPInsperity, Inc. | 2.0 bn | 564.4 | 4.6% | 0.0% | +3.5% | +46% / −55% |
| AMNAmn Healthcare Services, Inc. | 1.8 bn | 17.8 | 15.6% | 3.1% | −8.5% | +187% / −30% |
| EFOREverforth, Inc. | 1.5 bn | 22.7 | 3.7% | 1.7% | −2.9% | −18% / −59% |
| KFRCKforce Inc | 1.0 bn | 24.4 | 30.5% | 3.0% | −5.4% | +98% / −16% |
| BBSIBarrett Business Services, Inc. | 802.2 m | 24.4 | 16.3% | 2.8% | +8.4% | −6% / +20% |
| TBITrueBlue, Inc. | 300.0 m | — | -15.9% | -2.6% | +3.1% | +101% / −29% |
| RCMTRcm Technologies, Inc. | 248.1 m | 15.1 | 39.5% | 5.1% | unavailable | +78% / +29% |
| HQIHireQuest, Inc. | 246.4 m | 30.9 | 12.1% | 27.1% | −11.4% | +104% / +20% |
| TTECTTEC Holdings, Inc. | 75.4 m | — | -108.2% | -10.2% | −3.2% | −54% / −92% |
| DLHCDlh Holdings Corp. | 53.5 m | — | -20.8% | -8.5% | −13.0% | −41% / −73% |
| BGSFBgsf, Inc | 41.8 m | — | -4.4% | -2.3% | −10.6% | −15% / −60% |
| STRRStar Equity Holdings, Inc. | 35.5 m | — | -18.2% | -4.3% | +22.9% | −5% / −39% |
| CIRCCircle8 Group Inc. | 26.7 m | — | — | -19.4% | −1.5% | −89% / −94% |
| YFORYY Group Holding Ltd. | 4.3 m | — | -94.1% | -11.8% | +29.4% | −100% / unavailable |
| KELYAKelly Services, Inc. | — | — | -24.3% | -6.7% | −1.9% | +96% / −19% |
1- and 3-year price returns: for YFOR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 21 Apr 2026; since then the company filed 6-K (05 Oct 2026), 6-K (02 Oct 2026), 6-K (25 Sept 2026), 6-K (22 Sept 2026), 6-K (14 Sept 2026), 6-K (08 Sept 2026).
In brief
YYForce Inc. is a Singapore-based company providing temporary staffing and professional cleaning services through its YY App digital platform. Revenue growth in 2025 was strong, but the net loss widened considerably, so margin developments merit close attention. Revenue reached 57.2 million USD and the loss 21.6 million USD 1.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Widening net losseshigh
The 2025 net loss grew sharply from the prior year, and if this trend continues the financial position could be affected 1.
- Asset impairmentshigh
Impairments on intangible assets and goodwill may reflect weaker expectations for the returns on acquisitions 1.
- Labour shortagesmedium
The company warned it cannot guarantee retention and attraction of staff, which could affect service delivery 1.
- Government regulationmedium
Legislative changes on licensing, taxation or foreign hiring could raise operating costs 1.
- Execution of expansion strategylow
If investments in technology and expansion do not deliver the desired results, operations and financial condition could be adversely affected 1.
Investment thesis
What would need to be true (bull case)
- If revenue growth from 2025 holds and margins improve, the company could show that its digital model scales efficiently 1.
- Growth in the YY App user base could support a technology advantage in temporary workforce matching 1.
- Integrating facilities services could raise the average contract value with institutional clients 1.
What would break the thesis
What to watch
- Trend in net loss and gross marginQ1 2027
- Completion and launch of the 24IFM platform2027
- Effect of foreign labour regulations2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 21 Apr 2026; since then the company filed 6-K (05 Oct 2026), 6-K (02 Oct 2026), 6-K (25 Sept 2026), 6-K (22 Sept 2026), 6-K (14 Sept 2026), 6-K (08 Sept 2026).
The business
The company, incorporated in the British Virgin Islands, operates through subsidiaries in Singapore, Malaysia and several other countries in Southeast Asia, the Middle East, Europe and Australia 1. Its model combines temporary workforce matching through the YY App with professional cleaning services, to which integrated facilities management was added in 2025. According to the annual report, the company presents itself as a data and technology driven business, founded in 2010 as a traditional staffing supplier 1.
The legal structure is complex: the holding company YY Group Holding Limited controls numerous subsidiaries, some wholly owned and others majority owned, and in 2025 facilities management, security, pest control and the digital platform 24IFM were added 1. This rapid expansion makes integrated management and internal control relevant considerations when evaluating the company.
Segments
Manpower Outsourcing
This segment connects employers in hospitality, food and beverage and retail with temporary workers through the YY App, for roles such as kitchen helper and retail assistant 1. The segment remains a pillar of the business, with total hours deployed reported at approximately 12 million hours 1.
Other Services
This includes web design, digital marketing and rental income from investment properties. In 2025 the company began developing the 24IFM platform for facilities operations coordination, which is still under construction 1.
Market context
The markets for temporary staffing and professional cleaning in Southeast Asia are fragmented, with intense competition on price and quality. The company aims to strengthen its position in the region and expand, but it has noted that the success of these plans is not assured 1. Demand from hospitality and food and beverage is an important driver of activity volume.
However, the total market size and the company's share are not quantified in the available source, so no precise conclusions about competitive positioning can be drawn. The assessment is limited to the annual report information 1.
Trends
- Digitalisation of recruitmenttailwind
The YY App and rising app usage suggest that digitalisation could reduce recruitment costs if adoption continues. The growth in active users in 2025 indicates interest in this direction 1.
- Restrictions on foreign labourheadwind
The company warned that tighter rules on hiring foreign workers may limit labour supply and raise costs 1. If these restrictions intensify, margins could be affected.
- High labour turnoverheadwind
The cleaning services industry has a high staff turnover rate, and workers may leave for jobs closer to home 1. This pressure can affect costs and service quality.
- Integration of facilities servicesmixed
Expansion into integrated facilities management could raise contract values if clients prefer a single provider. The company argues that this integration improves efficiency, but the financial benefits are not yet demonstrated 1.
Competitive position
The company states it operates in a highly competitive industry where competition is based on price, service quality and track record 1. The source does not name competitors, so the competitive landscape cannot be described in detail from this source.
The company's stated advantage rests on the YY App and YY Smart iClean technology. A solid comparison would require data on competitors' market shares and profitability, which the report does not include 1.
- Regional temporary staffing firms in Southeast Asia
The report does not name competitors but stresses competition on price and quality across the industry.
- Local professional cleaning companies
The source mentions competition in the cleaning industry without identifying companies.
- Digital temporary recruitment platforms
Technological competition is noted in the report as a risk, without naming platforms.
- Integrated facilities management providers
The IFM segment competes with integrated service providers, unnamed in the source.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)05 Oct 2026
- Current report (foreign issuer)02 Oct 2026
- Current report (foreign issuer)25 Sept 2026
- Current report (foreign issuer)22 Sept 2026
- Current report (foreign issuer)14 Sept 2026
- Current report (foreign issuer)08 Sept 2026
- Current report (foreign issuer)26 Aug 2026
- Current report (foreign issuer)19 Aug 2026
- Current report (foreign issuer)13 Aug 2026
- Current report (foreign issuer)29 Jun 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / YYForce Inc. · 21 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.