mDR Ltd

mDR's capital structure shows a debt-to-equity ratio of 0.82, indicating moderate leverage, while its current ratio of 0.62 suggests potential liquidity constraints [doc:ValuationSnapshot]. The company reported negative net income of SGD 795,000 and a return on equity of -0.57%, both significantly below the cohort median for Computer & Electronics Retailers [doc:FinancialSnapshot]. Profitability metrics reveal a gross margin of 17.4% (SGD 43.24M gross profit on SGD 248.15M revenue), but operating income of SGD 2.18M translates to a 0.88% margin, which is weak relative to industry peers [doc:ValuationSnapshot]. The company's ROA of -0.28% further highlights underperformance in asset utilization [doc:ValuationSnapshot]. Geographically, mDR's revenue is concentrated in Singapore, with no material international exposure disclosed. Segment-wise, the After-Market Services (AMS) and Distribution Management Solutions (DMS) segments drive the majority of operations, while the Digital Inkjet Printing (DPAS) and Investment segments contribute less to revenue [doc:HA-latest]. Outlook for FY2024 shows a 14.6% revenue decline from SGD 288.07M to SGD 248.15M, with no improvement in net income. The company's capital expenditure of SGD 639,000 reflects minimal reinvestment, and free cash flow of SGD 891,000 is insufficient to cover debt servicing [doc:FinancialSnapshot]. Risk factors include a negative net cash position and a medium liquidity rating. Dilution risk is low, with no recent share issuance or ATM programs disclosed. However, the company's negative net income and weak operating cash flow raise concerns about long-term sustainability [doc:RiskAssessment]. Recent filings show no material changes in business strategy or regulatory exposure. The company continues to operate under its core segments, with no new product launches or geographic expansions disclosed in the latest 10-K or earnings transcripts [doc:HA-latest].