olivLaw · US equity research
Linkers Industries Limited LNKS
Electronic Components & Accessories · SIC 3670 · Vertical: Electronic Components & Accessories (SIC 3670)
Linkers Industries Limited makes wire and cable harnesses for global customers in home appliances, industrial products and automotive, from Malaysia. In fiscal 2026 revenue was broadly flat while the loss widened, driven by higher administrative costs, a Nasdaq listing from April 2026 and a recent capital raise.
At the close of 04 Nov 2026, Linkers Industries Limited (LNKS) stock was 0.58 USD (−3.17% on the day), with beta 1.34, 52-week range 0.58–332.50 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)
- 41.3
- weak (30–45)
- Bollinger (20, 2)
- 0.06 – 1.51
- in the lower half of the band · %B 0.36 · band width 184.9%
- SMA 50 / 200
- 0.88 / 53.70
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.11 / -0.10
- MACD below 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 | −40.8% | −1.1% | −39.7 pp | — |
| 3 months | −44.8% | −0.5% | −44.3 pp | — |
| 6 months | −63.3% | +4.4% | −67.7 pp | — |
| Year to date | −99.3% | +12.3% | −111.6 pp | — |
| 1 year | −99.5% | +13.5% | −113.0 pp | +2.1% |
| 3 years | unavailable | +76.4% | unavailable | +31.2% |
| 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
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
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 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | unavailable | unavailable | 4.8 m | 5.3 m |
| Revenue YoY | unavailable | unavailable | unavailable | +12.0% |
| Net income | unavailable | unavailable | -424.0 k | -1.2 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | -8.9% | -22.0% |
| Free cash flow | unavailable | unavailable | 183.2 k | -558.4 k |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 30 Jun 2025
- Cash
- 3.5 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 9.1 m USD
- Total assets
- 11.5 m USD
- Debt / equity
- unavailable
- Current ratio
- 4.72x
- ROE
- -18.4%
- ROA
- -12.6%
- FCF margin
- -10.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Revenue | 4.8 m | 5.3 m | SEC (XBRL)· 10 Oct 2025verified |
| Cost of revenue | 4.3 m | 4.9 m | SEC (XBRL)· 10 Oct 2025verified |
| Gross profit | 473.7 k | 432.4 k | SEC (XBRL)· 10 Oct 2025verified |
| Operating income | -329.0 k | -1.1 m | SEC (XBRL)· 10 Oct 2025verified |
| Interest expense | — | 113.8 k | SEC (XBRL)· 10 Oct 2025verified |
| Pre-tax income | -388.5 k | -1.2 m | SEC (XBRL)· 10 Oct 2025verified |
| Income tax | 35.5 k | 11.1 k | SEC (XBRL)· 10 Oct 2025verified |
| Net income | -424.0 k | -1.2 m | SEC (XBRL)· 10 Oct 2025verified |
| Weighted average diluted shares | 11.3 m | 12.5 m | SEC (XBRL)· 10 Oct 2025verified |
Balance sheet · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Cash | 830.1 k | 3.5 m | SEC (XBRL)· 10 Oct 2025verified |
| Receivables | 3.3 m | 2.7 m | SEC (XBRL)· 10 Oct 2025verified |
| Inventories | 2.1 m | 2.2 m | SEC (XBRL)· 10 Oct 2025verified |
| Current assets | 6.2 m | 10.6 m | SEC (XBRL)· 10 Oct 2025verified |
| Property, plant & equipment, net | 1.0 m | 909.5 k | SEC (XBRL)· 10 Oct 2025verified |
| Total assets | 7.1 m | 11.5 m | SEC (XBRL)· 10 Oct 2025verified |
| Accounts payable | 2.6 m | 1.9 m | SEC (XBRL)· 10 Oct 2025verified |
| Current liabilities | 2.9 m | 2.2 m | SEC (XBRL)· 10 Oct 2025verified |
| Total liabilities | 3.5 m | 2.4 m | SEC (XBRL)· 10 Oct 2025verified |
| Equity | 3.6 m | 9.1 m | SEC (XBRL)· 10 Oct 2025verified |
Cash flow · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Operating cash flow | 306.5 k | -501.2 k | SEC (XBRL)· 10 Oct 2025verified |
| Capex | 123.3 k | 57.2 k | SEC (XBRL)· 10 Oct 2025verified |
| Free cash flow | 183.2 k ≈ | -558.4 k ≈ | SEC (XBRL)· 10 Oct 2025derived |
| Investing cash flow | -115.8 k | -15.1 k | SEC (XBRL)· 10 Oct 2025verified |
| Financing cash flow | -415.3 k | 3.2 m | SEC (XBRL)· 10 Oct 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
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 42.6% 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: unavailable
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
43% · 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 · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
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: indicators available: 5 of at least 6; score weight coverage: 42.6% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 8.1% | 0 (on a fixed band) | 25% |
| EBIT margin · Quality | -21.3% | 17 (vs peers) | 20% |
| FCF margin · Quality | -10.5% | 0 (on a fixed band) | 20% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| Revenue growth (YoY) · Growth | 12.0% | 83 (vs peers) | 20% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 4.7x | 100 (on a fixed band) | 15% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth· partial83/100 · 1/2 factors with a value
- Quality5/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partialunavailable · 0/2 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
Linkers Industries Limited (LNKS). Latest full fiscal year: 2025; data up to 2025-06-30.
Figures computed from the financial statements: revenue 5.3 m USD in 2025; YoY growth 12.0%; net margin -22.0%; ROE -18.4%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 42.6% 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 growth (YoY): 12.0%
- Current ratio: 4.7x
What contradicts it
- Gross margin: 8.1%
- EBIT margin: -21.3%
- FCF margin: -10.5%
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, Net debt / EBITDA, EV/Sales, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Electronic Components & Accessories (SIC 3670) · same industry (4-digit SIC) · compared with 6 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 | |
|---|---|---|---|---|---|---|
| HUBBHubbell Inc | 23.2 bn | 25.7 | 23.3% | 13.8% | +3.8% | +2% / +46% |
| MRCYMercury Systems, Inc. | 4.3 bn | — | -2.0% | -3.0% | +7.9% | +3% / +109% |
| OLEDUniversal Display Corporation | 4.0 bn | 18.2 | 13.5% | 36.7% | +0.5% | −25% / −47% |
| VPGVishay Precision Group, Inc. | 605.1 m | — | -1.0% | -1.0% | +0.2% | +45% / +62% |
| KULRKulr Technology Group, Inc. | 75.4 m | — | -97.8% | -648.0% | +50.6% | −50% / −30% |
| LNKSLinkers Industries Limited | — | — | -18.4% | -22.0% | +12.0% | −99% / unavailable |
| VSHVishay Intertechnology, Inc. | — | 41.9 | 3.8% | 2.7% | +4.5% | +89% / +16% |
1- and 3-year price returns: for LNKS 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
Scenarios are not available. input data missing
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.
In brief
Linkers Industries Limited makes wire and cable harnesses for global customers in home appliances, industrial products and automotive, from Malaysia. In fiscal 2026 revenue was broadly flat while the loss widened, driven by higher administrative costs, a Nasdaq listing from April 2026 and a recent capital raise.
SWOT
Strengths
- Long-term relationships with global brand customers, more than 30 years of experience and custom design capability 1.
- ISO 9001 and IATF 16949 certifications that support customer confidence in automotive and industrial work 1.
- A management team with over two decades of experience in manufacturing, which the company presents as an operational advantage 1.
Weaknesses
Opportunities
- The LPW Electronics stake could add capacity and access to new customers in the region if integration succeeds 1.
- Growing automotive and industrial harness output could reduce dependence on appliances, if demand shifts that way 1.
- Greater visibility from the Nasdaq listing could help attract new customers, although the source does not show this link 1.
Threats
- Higher minimum wages and raw material prices could compress margins if they cannot be passed on to customers 1.
- A slowdown in the Asia Pacific economy could reduce demand for the company's products 1.
- Production interruptions, from equipment failure to natural disasters, could affect deliveries and customer relationships 1.
Risks
- Recurring losseshigh
The company reported losses across several fiscal years and administrative costs rose, which could limit internal funding capacity 1.
- Dependence on subsidiary dividendshigh
The holding company relies on dividends and payments from subsidiaries to meet its obligations, and currency or contractual restrictions could affect that flow 1.
- Volatile raw material pricesmedium
Copper, connectors and plastics have volatile prices, and the company cannot always pass increases on to customers 1.
- Currency exposuremedium
Without hedging instruments, moves in the ringgit against the dollar could affect margins and the value of the securities 1.
- Enforcing claims from the USlow
Investors may find it hard to enforce US securities laws against directors and assets located abroad, and compliance with anti-corruption laws requires strict controls 1.
Investment thesis
What would need to be true (bull case)
- If revenue returns to a growth path and administrative costs stabilise, the company could return to profit from its stable customer base 1.
- Integrating LPW Electronics could add capacity and new customers, and capital raised in 2026 could fund this stage 1.
- Long-term relationships with global brand manufacturers and quality certifications could support demand in automotive and industrial segments 1.
What would break the thesis
- If losses continue and professional fees stay high, the company could need further capital raises with additional dilution 1.
- Revenue has stayed in a narrow range, and cost increases could compress margins if they cannot be passed to customers 1.
- Reliance on subsidiary dividends and on a small number of key customers could expose the company to disruptions in cash flow or orders 1.
What to watch
- Revenue and net loss trends in the next interim report2027
- Results of the LPW Electronics integration and its contribution to marginsnext 10-K
- Level of administrative expenses once one-off listing costs fall away2027
- Use of proceeds from the March 2026 placement and any further share issuesnext 10-K
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.
The business
Through its operating subsidiary, TEM Electronics (M) Sdn. Bhd., the company manufactures wire and cable harnesses in Malaysia and has more than 30 years' experience in the field 1. Products are customised and made to order, and the company works with customers at every stage of a product's life cycle, from design and prototyping to production 1. Its main customers are global brand name manufacturers and OEMs in Asia Pacific, active in home appliances, industrial products and automotive 1.
The structure includes a British Virgin Islands holding company, Linkers Industries Limited, which owns TSPL and, through it, TEM Electronics (M) Sdn. Bhd. 1. In July 2026 the company increased its authorised shares, and in June 2026 it bought a 29% stake in LPW Electronics, taking it to up to 49% of that company 1.
For supply, the company relies on independent suppliers in Malaysia, the PRC and Europe, with no long-term framework agreements, purchasing against each customer order 1. Its quality system holds ISO 9001:2015 and IATF 16949:2016 certifications 1.
Segments
Market context
The company operates in the market for wire and cable harnesses serving home appliances, industry and automotive, with customers concentrated in Asia Pacific 1. Economic growth in the region and in Malaysia drives demand, and the company states that it cannot predict that growth with certainty 1.
Input costs depend on copper, connectors, terminals and plastic materials, which are treated as commodities with volatile prices 1. Rising input prices could compress margins if they cannot be passed on to customers in time 1.
Trends
- Higher minimum wage in Malaysiaheadwind
The minimum wage increase effective February 2025 raised production costs, and the company links the higher cost of sales to this policy 1. Labour cost pressure could persist if the policy stays in place.
- Costs of being a listed companyheadwind
Professional fees rose sharply in fiscal 2026 because the company booked a full year of consultancy, legal and Nasdaq listing costs that had been only partly included the year before 1. These costs could remain elevated while the company is listed.
- Integration of LPW Electronicsmixed
The stake in LPW Electronics could extend the company's capacity and geographic reach if integration succeeds 1. The company recorded a share of loss from an associate, so the benefits remain to be shown.
- Funding from the 2026 placementmixed
The March 2026 placement brought in significant capital that could support operations through a loss-making period, but it dilutes existing shareholders and creates warrant liabilities with volatile accounting effects 1.
Competitive position
The source describes competition as other wire harness makers in the region, without giving a full list of rivals or market shares 1. Stated advantages are more than 30 years of experience, long-term relationships with global customers and custom design capability 1.
- Other wire harness makers in Asia Pacific
The source does not name individual rivals but describes regional competition for the same appliance and automotive customers 1.
- Asian connector and terminal suppliers
Connector and terminal producers are named as suppliers rather than rivals, and their prices affect the company's costs 1.
- European electrical component producers
The company buys from European sources, so some European players sit in its supply chain without being presented as rivals 1.
- Malaysian automotive assembly suppliers
A Malaysian automotive and industrial assembly brand is also a customer, which points to indirect competition in the same segment 1.
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.
Loading the links…
News & filings
In the press
- Accessing Diverse C(sp3)-Rich Cyclophane Linkers in Macrocyclic Peptides via Nickel-Mediated Deaminative Macrocyclic ArylationJournal of the American Chemical Society · 17 Oct 2026 · EN
- Clickable Photolabile Linkers for Convenient Immobilization and Light-Controlled Release of Substrates from Solid SupportJournal of the American Chemical Society · 14 Oct 2026 · EN
- What’s Happening in EM: Traders Get Pickier on Linkers (Podcast)Bloomberg Markets · 16 Aug 2026 · EN
SEC filings
- Annual report (foreign issuer)08 Oct 2026
- Current report (foreign issuer)24 Aug 2026
- Current report (foreign issuer)14 Aug 2026
- Current report (foreign issuer)31 Jul 2026
- Current report (foreign issuer)17 Jun 2026
- Current report (foreign issuer)29 May 2026
- Current report (foreign issuer)29 Apr 2026
- Current report (foreign issuer)01 Apr 2026
- Current report (foreign issuer)25 Mar 2026
- Current report (foreign issuer)16 Mar 2026
Sources
- [1] Form 20-F, fiscal year ended 2026-06-30 · SEC / Linkers Industries Limited · 08 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.