12.60
-2.55%
Close of 6 Nov 2026, in SGD
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At a glance
Figures in SGD, from our data supplier.
Revenue
SGD 230.0m
FY2016FY2025
Net income
SGD 265.5m
FY2016FY2025
Free cash flow
SGD 55.0m
FY2016FY2025
Shareholders' equity
SGD 4.29bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 230.0m | SGD 244.8m | SGD 232.1m | SGD 182.1m | SGD 141.2m | SGD 111.0m | SGD 244.0m | SGD 237.8m | SGD 222.8m | SGD 201.6m |
| Gross profit | SGD 128.8m | SGD 134.1m | SGD 134.9m | SGD 98.6m | SGD 73.6m | SGD 48.8m | SGD 139.4m | SGD 145.7m | SGD 139.7m | SGD 125.5m |
| Operating income | SGD 67.1m | SGD 63.8m | SGD 64.0m | SGD 43.4m | SGD 24.7m | SGD 13.9m | SGD 195.2m | SGD 191.0m | SGD 136.9m | SGD 137.0m |
| Net income | SGD 265.5m | SGD 228.3m | SGD 216.6m | SGD 148.3m | SGD 110.1m | SGD 119.8m | SGD 182.2m | SGD 179.1m | SGD 122.5m | SGD 125.0m |
| Diluted earnings per share | 1.20 | 1.03 | 0.98 | 0.67 | 0.50 | 0.54 | 0.82 | 0.81 | 0.56 | 0.57 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SGD 4.42bn | SGD 4.28bn | SGD 3.59bn | SGD 3.65bn | SGD 3.28bn | SGD 2.95bn | SGD 3.24bn | SGD 3.03bn | SGD 3.26bn | SGD 2.49bn |
| Cash and short-term investments | — | — | — | — | — | SGD 554.4m | SGD 465.4m | SGD 519.4m | SGD 400.6m | SGD 312.6m |
| Total liabilities | SGD 126.8m | SGD 128.5m | SGD 117.2m | SGD 101.4m | SGD 72.1m | SGD 64.0m | SGD 84.8m | SGD 102.4m | SGD 186.7m | SGD 160.6m |
| Debt | SGD 44.3m | SGD 36.3m | SGD 27.8m | SGD 28.5m | — | — | SGD 15.6m | SGD 46.5m | SGD 45.0m | SGD 45.8m |
| Shareholders' equity | SGD 4.29bn | SGD 4.15bn | SGD 3.48bn | SGD 3.55bn | SGD 3.21bn | SGD 2.89bn | SGD 3.16bn | SGD 2.93bn | SGD 3.08bn | SGD 2.32bn |
| Shares outstanding | 221m | 221m | 221m | 221m | 221m | 221m | 221m | 221m | 220m | 219m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SGD 57.1m | SGD 53.8m | SGD 62.7m | SGD 40.9m | SGD 18.8m | SGD 25.0m | SGD 84.2m | SGD 69.5m | SGD 68.7m | SGD 91.5m |
| Capital spending | −SGD 2.1m | −SGD 3.5m | −SGD 7.8m | −SGD 19.7m | −SGD 4.4m | −SGD 7.5m | −SGD 3.0m | −SGD 3.4m | −SGD 8.0m | −SGD 2.8m |
| Free cash flow | SGD 55.0m | SGD 50.3m | SGD 54.9m | SGD 21.2m | SGD 14.5m | SGD 17.5m | SGD 81.2m | SGD 66.2m | SGD 60.7m | SGD 88.7m |
| Dividends paid | −SGD 309.9m | −SGD 88.5m | −SGD 77.5m | −SGD 66.4m | −SGD 66.4m | −SGD 66.4m | −SGD 66.3m | −SGD 55.2m | −SGD 44.0m | −SGD 85.5m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Dec 2020 | Jun 2020 | Dec 2019 | Sept 2019 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 126.3m | SGD 126.7m | SGD 118.1m | SGD 120.9m | SGD 111.0m | SGD 80.9m | SGD 43.6m | SGD 57.0m |
| Gross profit | SGD 71.4m | SGD 69.6m | SGD 64.5m | SGD 71.9m | SGD 48.8m | SGD 43.6m | SGD 22.5m | SGD 32.5m |
| Operating income | SGD 33.8m | SGD 32.4m | SGD 32.8m | SGD 36.8m | SGD 120.7m | SGD 94.8m | SGD 14.9m | SGD 60.4m |
| Net income | SGD 144.1m | SGD 106.3m | SGD 122.0m | SGD 112.4m | SGD 119.8m | SGD 91.0m | SGD 12.9m | SGD 56.8m |
| Diluted earnings per share | 0.65 | 0.48 | 0.55 | 0.51 | 0.54 | 0.41 | 0.06 | 0.26 |
| Cash from operations | — | — | — | — | — | SGD 12.0m | SGD 21.0m | SGD 24.0m |
| Capital spending | — | — | — | — | — | −SGD 3.0m | −SGD 2.0m | −SGD 1.0m |
| Free cash flow | — | — | — | — | — | SGD 9.0m | SGD 19.0m | SGD 23.0m |
| Total assets | SGD 4.21bn | SGD 4.28bn | SGD 3.82bn | SGD 3.59bn | SGD 2.95bn | SGD 2.75bn | SGD 3.24bn | SGD 3.13bn |
| Cash and short-term investments | — | — | — | — | SGD 554.4m | SGD 580.1m | SGD 465.6m | SGD 440.7m |
| Debt | — | SGD 36.3m | — | SGD 27.8m | — | — | SGD 15.6m | SGD 48.4m |
| Shareholders' equity | SGD 4.08bn | SGD 4.15bn | SGD 3.70bn | SGD 3.48bn | SGD 2.89bn | SGD 2.65bn | SGD 3.16bn | SGD 3.03bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 56.0% | 54.8% | 58.1% | 54.1% | 52.2% | 44.0% | — | — | — | — |
| Operating margin | 123.1% | 101.4% | 99.5% | 23.8% | 17.5% | 12.5% | — | — | — | — |
| Net margin | 115.4% | 93.2% | 93.3% | 81.5% | 78.0% | 107.9% | — | — | — | — |
| Return on equity | 6.2% | 5.5% | 6.2% | 4.2% | 3.4% | 4.2% | — | — | — | — |
| Return on assets | 6.0% | 5.3% | 6.0% | 4.1% | 3.4% | 4.1% | — | — | — | — |
| Free cash flow yield | — | — | — | — | 0.7% | 0.9% | 3.0% | 2.5% | 2.4% | 3.3% |
| Revenue growth | -6.1% | 5.5% | 27.4% | 29.0% | 27.2% | -54.5% | — | — | — | — |
| Earnings growth | 16.3% | 5.4% | 46.0% | 34.7% | -8.1% | -34.3% | — | — | — | — |
| Current ratio | 33.71x | 44.07x | 37.01x | 3.79x | 9.02x | 9.26x | — | — | — | — |
| Debt to equity | 0.01x | 0.01x | 0.01x | 0.01x | 0.00x | 0.00x | — | — | — | — |
| Equity ratio | 97.1% | 97.0% | 96.7% | 97.2% | 97.8% | 97.8% | — | — | — | — |
| Interest coverage | 185.93x | 119.04x | 148.52x | 82.63x | 914.70x | 183.29x | — | — | — | — |
| Buybacks as a share of market value | — | — | — | — | -0.0% | -0.1% | 0.0% | -0.4% | -0.4% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.1% | 15.7% | 2.5% |
| Operating income | 15.6% | 36.9% | -7.0% |
| Net income | 21.4% | 17.3% | 3.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 55.4% | 55.8% | 54.2% | 57.3% |
| Operating margin | 27.6% | 26.8% | 24.3% | 48.3% |
| Net margin | 104.0% | 96.6% | 95.4% | 84.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.1 | 10.8 | 10.0 | 14.3 | 22.8 | 20.0 | 15.5 | 14.8 | 20.4 | 15.9 |
| Price to sales | 15.1 | 10.1 | 9.3 | 11.6 | 17.8 | 21.5 | 11.6 | 11.2 | 11.2 | 9.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 5 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.20 | 0.40 | 0.55 | 0.35 | 0.30 | 0.30 | 0.30 | 0.30 |
- 11-for-10 split · 21 May 2013
- 11-for-10 split · 13 Jun 1994
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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