1.69
-5.06%
Close of 6 Nov 2026, in SGD
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At a glance
Figures in SGD, from our data supplier.
Revenue
SGD 250.4m
FY2016FY2025
Net income
SGD 41.6m
FY2016FY2025
Free cash flow
SGD 1.0m
FY2016FY2025
Shareholders' equity
SGD 428.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 250.4m | SGD 241.4m | SGD 299.3m | SGD 371.8m | SGD 270.8m | SGD 164.4m | SGD 131.9m | SGD 127.9m | SGD 162.5m | SGD 104.2m |
| Gross profit | SGD 135.7m | SGD 122.9m | SGD 149.7m | SGD 185.1m | SGD 142.7m | SGD 87.6m | SGD 69.8m | SGD 77.0m | SGD 88.9m | SGD 56.4m |
| Operating income | SGD 49.8m | SGD 40.3m | SGD 68.9m | SGD 105.4m | SGD 80.5m | SGD 48.4m | SGD 36.2m | SGD 48.5m | SGD 55.7m | SGD 25.7m |
| Net income | SGD 41.6m | SGD 40.6m | SGD 60.0m | SGD 98.2m | SGD 53.1m | SGD 36.5m | SGD 33.6m | SGD 43.1m | SGD 52.0m | SGD 22.6m |
| Diluted earnings per share | 0.06 | 0.06 | 0.09 | 0.15 | 0.08 | 0.05 | 0.05 | 0.06 | 0.08 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SGD 528.5m | SGD 509.0m | SGD 487.2m | SGD 489.4m | SGD 436.8m | SGD 309.5m | SGD 287.2m | SGD 275.0m | SGD 259.2m | SGD 210.2m |
| Cash and short-term investments | — | — | — | — | — | SGD 53.8m | SGD 34.4m | SGD 32.1m | SGD 59.6m | SGD 42.6m |
| Total liabilities | SGD 72.0m | SGD 65.0m | SGD 100.2m | SGD 121.1m | SGD 132.5m | SGD 56.6m | SGD 42.3m | SGD 44.6m | SGD 45.4m | SGD 20.7m |
| Debt | — | — | SGD 15.8m | SGD 18.4m | SGD 22.7m | SGD 25.5m | SGD 18.3m | SGD 25.1m | SGD 22.2m | SGD 249,000 |
| Shareholders' equity | SGD 428.7m | SGD 418.2m | SGD 359.8m | SGD 340.5m | SGD 278.9m | SGD 252.9m | SGD 244.9m | SGD 230.5m | SGD 213.8m | SGD 189.5m |
| Shares outstanding | 667m | 667m | 667m | 667m | 667m | 667m | 671m | 671m | 671m | 671m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SGD 39.7m | SGD 55.2m | SGD 79.8m | SGD 95.3m | SGD 66.2m | SGD 56.4m | SGD 53.6m | SGD 38.7m | SGD 40.0m | SGD 33.9m |
| Capital spending | −SGD 38.6m | −SGD 33.4m | −SGD 29.7m | −SGD 53.5m | −SGD 10.0m | −SGD 11.6m | −SGD 2.2m | −SGD 15.7m | −SGD 10.6m | −SGD 2.6m |
| Free cash flow | SGD 1.0m | SGD 21.8m | SGD 50.1m | SGD 41.8m | SGD 56.2m | SGD 44.8m | SGD 51.4m | SGD 23.0m | SGD 29.4m | SGD 31.2m |
| Dividends paid | −SGD 35.5m | −SGD 38.4m | −SGD 36.2m | −SGD 33.4m | −SGD 22.7m | −SGD 26.7m | −SGD 18.8m | −SGD 29.5m | −SGD 26.8m | −SGD 25.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 87.1m | SGD 66.8m | SGD 67.3m | SGD 57.7m | SGD 67.2m | SGD 56.0m | SGD 54.0m | SGD 73.5m |
| Gross profit | SGD 47.2m | SGD 33.1m | SGD 36.6m | SGD 32.2m | SGD 31.3m | SGD 29.9m | SGD 28.7m | SGD 38.8m |
| Operating income | SGD 22.7m | SGD 13.6m | SGD 14.3m | SGD 11.5m | SGD 8.7m | SGD 9.5m | SGD 10.0m | SGD 19.5m |
| Net income | SGD 19.4m | SGD 11.1m | SGD 10.3m | SGD 9.8m | SGD 11.1m | SGD 9.3m | SGD 9.8m | SGD 15.7m |
| Diluted earnings per share | 0.03 | 0.02 | 0.02 | 0.01 | 0.02 | 0.01 | 0.01 | 0.02 |
| Cash from operations | SGD 36.0m | SGD 22.0m | SGD 3.0m | SGD 11.0m | SGD 24.0m | SGD 4.0m | SGD 10.0m | SGD 20.0m |
| Capital spending | −SGD 5.0m | −SGD 3.0m | −SGD 11.0m | −SGD 10.0m | −SGD 9.0m | −SGD 8.0m | −SGD 7.0m | −SGD 7.0m |
| Free cash flow | SGD 31.0m | SGD 19.0m | −SGD 8.0m | SGD 1.0m | SGD 15.0m | −SGD 4.0m | SGD 3.0m | SGD 13.0m |
| Total assets | SGD 533.9m | SGD 528.5m | SGD 523.6m | SGD 520.4m | SGD 509.0m | SGD 503.7m | — | SGD 487.2m |
| Debt | — | — | — | — | — | SGD 108,000 | — | SGD 15.8m |
| Shareholders' equity | SGD 445.7m | SGD 428.7m | SGD 422.9m | SGD 427.2m | SGD 418.2m | SGD 411.9m | — | SGD 359.8m |
Financial ratios
Data as of 3 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 54.2% | 50.9% | 50.0% | 49.8% | 52.7% | 53.3% | — | — | — | — |
| Operating margin | 20.3% | 19.7% | 23.2% | 28.6% | 27.7% | 24.1% | — | — | — | — |
| Net margin | 16.6% | 16.8% | 20.0% | 26.4% | 19.6% | 22.2% | — | — | — | — |
| Return on equity | 9.7% | 9.7% | 16.7% | 28.8% | 19.0% | 14.4% | — | — | — | — |
| Return on assets | 7.9% | 8.0% | 12.3% | 20.1% | 12.2% | 11.8% | — | — | — | — |
| Free cash flow yield | — | — | — | — | 5.8% | 5.1% | 4.2% | 4.1% | 3.8% | 2.7% |
| Revenue growth | 3.7% | -19.4% | -19.5% | 37.3% | 64.7% | 24.7% | — | — | — | — |
| Earnings growth | 2.4% | -32.3% | -38.9% | 84.9% | 45.6% | 8.7% | — | — | — | — |
| Current ratio | 4.45x | 5.40x | 3.56x | 3.11x | 2.46x | 2.84x | — | — | — | — |
| Debt to equity | — | 0.00x | 0.04x | 0.05x | 0.08x | 0.08x | 0.06x | — | — | — |
| Equity ratio | 81.1% | 82.2% | 73.9% | 69.6% | 63.9% | 81.7% | — | — | — | — |
| Interest coverage | 105.70x | 69.88x | 74.42x | 94.88x | 80.36x | 66.45x | — | — | — | — |
| Buybacks as a share of market value | — | — | — | — | 0.0% | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -12.3% | 8.8% | 8.5% |
| Operating income | -22.1% | 0.6% | 4.1% |
| Net income | -24.9% | 2.7% | 1.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 52.6% | 51.0% | 51.5% | 52.9% |
| Operating margin | 18.3% | 22.7% | 24.6% | 26.5% |
| Net margin | 16.7% | 20.7% | 20.6% | 23.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 28.4 | 21.1 | 18.6 | 10.0 | 23.9 | 19.8 | 20.6 | 8.9 | 13.1 | 14.5 |
| Price to sales | 4.7 | 3.6 | 3.7 | 2.6 | 4.7 | 4.4 | 5.2 | 3.0 | 4.2 | 3.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 24 years. Last went ex-dividend on 15 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.04 | 0.043 | 0.043 | 0.04 | 0.027 | 0.032 | 0.022 |
- 5-for-4 split · 9 Jan 2026
- 5-for-4 split · 22 Oct 2021
- 5-for-4 split · 24 Oct 2017
- 5-for-4 split · 5 Jun 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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