Raffles Medical Group BSL.SI · SGD

Health Care · SGX · 🇸🇬 Singapore

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0.85

+0.60%

Close of 6 Nov 2026, in SGD

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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in SGD, from our data supplier.

FY2025

Revenue

SGD 765.3m

FY2016FY2025

Net income

SGD 70.6m

FY2016FY2025

Free cash flow

SGD 91.3m

FY2016FY2025

Shareholders' equity

SGD 1.06bn

FY2016FY2025

Income statement

Fiscal years

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Revenue	SGD 765.3m	SGD 751.6m	SGD 706.9m	SGD 766.5m	SGD 723.8m	SGD 568.2m	SGD 522.0m	SGD 489.1m	SGD 477.6m	SGD 473.6m
Gross profit	SGD 497.3m	SGD 486.1m	SGD 479.6m	SGD 640.0m	SGD 580.5m	SGD 431.5m	SGD 411.1m	SGD 389.6m	SGD 384.0m	SGD 382.0m
Operating income	SGD 89.2m	SGD 86.4m	SGD 116.2m	SGD 214.2m	SGD 122.8m	SGD 88.4m	SGD 76.2m	SGD 84.2m	SGD 80.1m	SGD 81.9m
Net income	SGD 70.6m	SGD 62.2m	SGD 90.2m	SGD 143.5m	SGD 84.2m	SGD 65.9m	SGD 60.3m	SGD 71.1m	SGD 70.8m	SGD 70.2m
Diluted earnings per share	0.04	0.03	0.05	0.08	0.05	0.04	0.03	0.04	0.03	0.04

Balance sheet

At each fiscal year end

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Total assets	SGD 1.43bn	SGD 1.53bn	SGD 1.53bn	SGD 1.50bn	SGD 1.55bn	SGD 1.40bn	SGD 1.28bn	SGD 1.12bn	SGD 1.01bn	SGD 900.6m
Cash and short-term investments	—	—	—	—	—	SGD 203.1m	SGD 151.8m	—	—	SGD 111.9m
Total liabilities	SGD 374.0m	SGD 465.8m	SGD 484.4m	SGD 467.3m	SGD 568.7m	SGD 505.1m	SGD 443.9m	SGD 299.7m	SGD 254.2m	SGD 234.2m
Debt	—	SGD 49.1m	SGD 54.6m	SGD 63.4m	SGD 77.9m	SGD 166.2m	SGD 189.6m	SGD 116.5m	SGD 79.2m	SGD 30.4m
Shareholders' equity	SGD 1.06bn	SGD 1.05bn	SGD 1.03bn	SGD 1.02bn	SGD 960.8m	SGD 899.0m	SGD 840.9m	SGD 800.5m	SGD 734.0m	SGD 666.4m
Shares outstanding	1,868m	1,868m	1,868m	1,868m	1,868m	1,865m	1,828m	1,799m	2,207m	1,770m

Cash flow

Fiscal years

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Cash from operations	SGD 101.3m	SGD 86.3m	SGD 189.3m	SGD 196.2m	SGD 160.1m	SGD 133.1m	SGD 111.1m	SGD 93.6m	SGD 82.7m	SGD 78.9m
Capital spending	−SGD 10.0m	−SGD 20.9m	−SGD 21.9m	−SGD 25.0m	−SGD 49.9m	−SGD 58.9m	−SGD 96.1m	−SGD 28.6m	−SGD 10.0m	−SGD 14.5m
Free cash flow	SGD 91.3m	SGD 65.3m	SGD 167.4m	SGD 171.2m	SGD 110.2m	SGD 74.3m	SGD 15.1m	SGD 65.0m	SGD 72.7m	SGD 64.4m
Dividends paid	−SGD 46.3m	−SGD 44.6m	−SGD 70.7m	−SGD 52.0m	−SGD 37.3m	−SGD 19.2m	−SGD 18.0m	−SGD 15.6m	−SGD 14.4m	−SGD 14.0m

Latest quarters

By quarter end

	Dec 2025	Jun 2025	Dec 2024	Jun 2024	Dec 2023	Jun 2023	Mar 2023	Dec 2020
Revenue	SGD 386.9m	SGD 378.4m	SGD 385.9m	SGD 365.7m	SGD 336.1m	SGD 370.8m	SGD 185.4m	SGD 568.2m
Gross profit	SGD 332.8m	SGD 331.3m	SGD 334.4m	SGD 318.6m	SGD 337.5m	SGD 326.5m	SGD 58.3m	SGD 431.5m
Operating income	SGD 49.1m	SGD 41.6m	SGD 43.8m	SGD 41.3m	SGD 39.1m	SGD 76.6m	SGD 36.9m	SGD 88.4m
Net income	SGD 38.5m	SGD 32.1m	SGD 31.6m	SGD 30.6m	SGD 30.3m	SGD 59.9m	SGD 30.2m	SGD 65.9m
Diluted earnings per share	0.02	0.02	0.02	0.02	0.02	0.03	0.02	0.04
Cash from operations	SGD 44.0m	SGD 56.0m	SGD 51.0m	SGD 34.0m	—	—	—	SGD 49.0m
Capital spending	−SGD 5.0m	−SGD 4.0m	−SGD 8.0m	−SGD 12.0m	—	—	—	−SGD 15.0m
Free cash flow	SGD 39.0m	SGD 52.0m	SGD 43.0m	SGD 22.0m	—	—	—	SGD 34.0m
Total assets	SGD 1.43bn	SGD 1.49bn	SGD 1.49bn	SGD 1.52bn	SGD 1.53bn	SGD 1.52bn	SGD 1.52bn	SGD 1.40bn
Cash and short-term investments	—	—	—	—	—	—	SGD 300.7m	SGD 203.1m
Debt	—	—	SGD 49.1m	SGD 51.9m	SGD 54.6m	SGD 60.3m	SGD 71.6m	SGD 166.2m
Shareholders' equity	SGD 1.06bn	SGD 1.02bn	SGD 1.05bn	SGD 1.02bn	SGD 1.03bn	SGD 998.9m	SGD 1.01bn	SGD 899.0m

Financial ratios

Data as of 30 Oct 2026

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Gross margin	65.0%	64.7%	67.8%	83.5%	80.2%	75.9%	—	—	—	—
Operating margin	12.8%	12.3%	17.8%	25.9%	17.3%	12.5%	—	—	—	—
Net margin	9.2%	8.3%	12.8%	18.7%	11.6%	11.6%	—	—	—	—
Return on equity	6.7%	5.9%	8.8%	14.1%	8.8%	7.3%	—	—	—	—
Return on assets	4.9%	4.1%	5.9%	9.6%	5.4%	4.7%	—	—	—	—
Free cash flow yield	—	—	—	—	13.7%	12.6%	13.8%	8.3%	5.1%	6.4%
Revenue growth	1.8%	6.3%	-7.8%	5.9%	27.4%	8.8%	—	—	—	—
Earnings growth	13.4%	-31.0%	-37.2%	70.5%	27.7%	9.3%	—	—	—	—
Current ratio	1.31x	1.35x	1.28x	1.41x	1.05x	1.18x	—	—	—	—
Debt to equity	0.00x	0.05x	0.05x	0.06x	0.08x	0.16x	—	—	—	—
Equity ratio	74.0%	68.6%	67.3%	67.8%	62.2%	64.0%	—	—	—	—
Interest coverage	23.86x	16.05x	20.65x	28.80x	19.68x	13.79x	—	—	—	—
Buybacks as a share of market value	—	—	—	—	-0.2%	-2.0%	-1.6%	18.5%	-24.7%	—

Growth per year

Compound annual rate

	3 years	5 years	10 years
Revenue	-0.1%	6.1%	6.4%
Operating income	-25.3%	0.2%	1.0%
Net income	-21.1%	1.4%	0.2%

Average margins

Over each period

	1 year	3 years	5 years	10 years
Gross margin	64.8%	70.3%	72.7%	75.3%
Operating margin	11.6%	16.9%	16.7%	16.8%
Net margin	8.8%	12.3%	12.1%	12.9%

Valuation history

At each fiscal year end

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Price to earnings	26.5	25.5	22.4	18.2	30.4	28.3	30.3	27.8	34.9	36.0
Price to sales	2.4	2.1	2.9	3.4	3.5	3.3	3.5	4.0	5.2	5.3

Dividends and splits

Per share, in the currency the company pays

Paid for 24 years. Last went ex-dividend on 12 May 2026.

	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Paid in the year	0.03	0.025	0.024	0.038	0.01	0.02	0.025	0.025

3-for-1 split · 9 May 2016
11-for-10 split · 30 Apr 2007

Sources and methodology

Data on this tab: Our data supplier
Chart on the Overview: TradingView

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Raffles Medical Group BSL.SI · SGD

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At a glance

Income statement

Balance sheet

Cash flow

Latest quarters

Financial ratios

Growth per year

Average margins

Valuation history

Dividends and splits

Sources and methodology