Linkers Industries Limited

LNKS

IndustrialsManufacturing - Metal FabricationNASDAQ

$1.42

Market Cap: $76,311

Linkers Industries Limited (LNKS) Valuation Summary

Updated May 11, 2026 10:21

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.35 – $5.11	$1.71	+20.6%
Revenue DCF 10Y	$0.43 – $3.50	$1.34	-5.6%
▸ Trading Multiples
EV/Revenue	$0.88 – $27.98	$3.89	+173.8%

Valuation History

DCF Analysis

Linkers Industries Limited (LNKS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.34

Market Price

$1.42

Upside / Downside

-5.6%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -6.9% to a target of 10.3% over 5 years, discounted at a WACC of 7.8%, Linkers Industries Limited (LNKS) has an intrinsic value of $1.34 per share (range: $0.43 – $3.50).

Key Assumptions

Current Operating Margin

-6.9%

Target Operating Margin

10.3%

WACC

7.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.7%

Target CapEx/Rev

6.5%

D&A/Revenue

4.4%

Tax Rate

5.9%

Operating margin fades linearly from the current level to the industry target over the 5-year projection. CapEx intensity fades from the historical average to a maintenance level (D&A × 1.5). Tax is only applied when operating income is positive (NOL shield).

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2025	20	-10.0%	-3.5%	-1	-1	1	(0)	-2	2	2
2026	18	-10.0%	-0.0%	-0	-0	1	(0)	-1	2	2
2027	16	-10.0%	3.4%	1	1	1	(1)	-1	2	2
2028	15	-9.7%	6.9%	1	1	1	(1)	-1	2	2
2029	14	-7.8%	10.3%	1	1	1	(1)	-1	2	2
2030	13	-6.0%	10.3%	1	1	1	(1)	-1	2	1
2031	12	-4.2%	10.3%	1	1	1	(1)	-0	1	1
2032	12	-2.4%	10.3%	1	1	1	(1)	-0	1	1
2033	12	-0.6%	10.3%	1	1	1	(1)	-0	1	1
2034	12	1.2%	10.3%	1	1	1	(1)	0	1	0

Enterprise Value Bridge

Sum of PV(FCFF)12

Terminal Value (Gordon Growth at 3.0%)17

PV of Terminal Value9

Enterprise Value20

(–) Net Debt2

Equity Value18

(÷) Shares Outstanding13

Fair Value per Share$1.34

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.3%	7.3%	10.3%	13.3%	16.3%
5.8%	$1	$1	$2	$3	$4
6.8%	$1	$1	$2	$2	$3
7.8%	$1	$1	$1	$2	$2
8.8%	$0	$1	$1	$2	$2
9.8%	$0	$1	$1	$1	$2

Current price: $1.42. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 68.8% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Linkers Industries Limited (LNKS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.71

Market Price

$1.42

Upside / Downside

+20.6%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-6.9%

Target Operating Margin

10.3%

WACC

7.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.7%

Target CapEx/Rev

6.5%

D&A/Revenue

4.4%

Tax Rate

5.9%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2025	20	-10.0%	-3.5%	-1	-1	1	(1)	-2	2	2
2026	18	-10.0%	-0.0%	-0	-0	1	(1)	-1	2	1
2027	17	-6.9%	3.4%	1	1	1	(1)	-1	1	1
2028	16	-3.6%	6.9%	1	1	1	(1)	-0	1	1
2029	16	-0.3%	10.3%	2	2	1	(1)	-0	1	1

Enterprise Value Bridge

Sum of PV(FCFF)6

Terminal Value (Gordon Growth at 3.0%)27

PV of Terminal Value19

Enterprise Value25

(–) Net Debt2

Equity Value23

(÷) Shares Outstanding13

Fair Value per Share$1.71

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.3%	7.3%	10.3%	13.3%	16.3%
5.8%	$1	$2	$3	$4	$5
6.8%	$1	$1	$2	$3	$4
7.8%	$0	$1	$2	$2	$3
8.8%	$0	$1	$1	$2	$2
9.8%	$0	$1	$1	$2	$2

Current price: $1.42. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 68.8% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$3.89

Market Price

$1.42

Upside / Downside

+173.8%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Linkers Industries Limited (LNKS) has a fair value of $3.89 based on 4 comparable companies in the Manufacturing - Metal Fabrication industry.

EV/Revenue Valuation — Manufacturing - Metal Fabrication

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Linkers Industries LimitedLNKS	19	1.0x	—
Momentus Inc.MNTS	31	16.9x	61.6x
JE Cleantech Holdings LimitedJCSE	6	0.6x	—
Astrotech CorporationASTC	5	4.2x	0.1x
Founder Group Limited Ordinary SharesFGL	0	0.2x	—
Industry Median		2.4x	30.8x
(*) Revenue		22
= Enterprise Value		55
(-) Net Debt		2
Equity Value		52
(/) Outstanding shares		13
Fair Price		$4

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

Model

Range

Fair Value

Upside

▸ Discounted Cash Flow

Revenue DCF 5Y

$0.35 – $5.11

$1.71

+20.6%

Revenue DCF 10Y

$0.43 – $3.50

$1.34

-5.6%

▸ Trading Multiples

EV/Revenue

$0.88 – $27.98

$3.89

+173.8%

DCF Analysis

Linkers Industries Limited (LNKS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.34

Market Price

$1.42

Upside / Downside

-5.6%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-6.9%

Target Operating Margin

10.3%

WACC

7.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.7%

Target CapEx/Rev

6.5%

D&A/Revenue

4.4%

Tax Rate

5.9%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2025	20	-10.0%	-3.5%	-1	-1	1	(0)	-2	2	2
2026	18	-10.0%	-0.0%	-0	-0	1	(0)	-1	2	2
2027	16	-10.0%	3.4%	1	1	1	(1)	-1	2	2
2028	15	-9.7%	6.9%	1	1	1	(1)	-1	2	2
2029	14	-7.8%	10.3%	1	1	1	(1)	-1	2	2
2030	13	-6.0%	10.3%	1	1	1	(1)	-1	2	1
2031	12	-4.2%	10.3%	1	1	1	(1)	-0	1	1
2032	12	-2.4%	10.3%	1	1	1	(1)	-0	1	1
2033	12	-0.6%	10.3%	1	1	1	(1)	-0	1	1
2034	12	1.2%	10.3%	1	1	1	(1)	0	1	0

Enterprise Value Bridge

Sum of PV(FCFF)12

Terminal Value (Gordon Growth at 3.0%)17

PV of Terminal Value9

Enterprise Value20

(–) Net Debt2

Equity Value18

(÷) Shares Outstanding13

Fair Value per Share$1.34

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.3%	7.3%	10.3%	13.3%	16.3%
5.8%	$1	$1	$2	$3	$4
6.8%	$1	$1	$2	$2	$3
7.8%	$1	$1	$1	$2	$2
8.8%	$0	$1	$1	$2	$2
9.8%	$0	$1	$1	$1	$2

Current price: $1.42. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 68.8% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$3.89

Market Price

$1.42

Upside / Downside

+173.8%

Verdict

Undervalued

EV/Revenue Valuation — Manufacturing - Metal Fabrication

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Linkers Industries LimitedLNKS	19	1.0x	—
Momentus Inc.MNTS	31	16.9x	61.6x
JE Cleantech Holdings LimitedJCSE	6	0.6x	—
Astrotech CorporationASTC	5	4.2x	0.1x
Founder Group Limited Ordinary SharesFGL	0	0.2x	—
Industry Median		2.4x	30.8x
(*) Revenue		22
= Enterprise Value		55
(-) Net Debt		2
Equity Value		52
(/) Outstanding shares		13
Fair Price		$4