0.84
-1.76%
Close of 6 Nov 2026, in SGD
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At a glance
Figures in SGD, from our data supplier.
Revenue
SGD 274.5m
FY2016FY2025
Net income
SGD 454.4m
FY2016FY2025
Free cash flow
SGD 223.3m
FY2016FY2025
Shareholders' equity
SGD 5.53bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 274.5m | SGD 261.6m | SGD 233.1m | SGD 219.3m | SGD 216.6m | SGD 170.2m | SGD 164.1m | SGD 165.9m | SGD 164.5m | SGD 161.3m |
| Gross profit | SGD 215.9m | SGD 201.9m | SGD 182.4m | SGD 175.9m | SGD 172.5m | SGD 80.4m | SGD 69.5m | SGD 78.8m | SGD 74.7m | SGD 71.5m |
| Operating income | SGD 149.9m | SGD 136.9m | SGD 120.0m | SGD 112.5m | SGD 110.3m | SGD 4.9m | SGD 153.0m | SGD 164.8m | SGD 197.3m | SGD 279.1m |
| Net income | SGD 454.4m | SGD 108.4m | SGD 178.0m | SGD 414.8m | SGD 241.2m | −SGD 5.9m | SGD 127.4m | SGD 153.6m | SGD 180.1m | SGD 257.7m |
| Diluted earnings per share | 0.11 | 0.03 | 0.04 | 0.10 | 0.07 | -0.00 | 0.04 | 0.04 | 0.03 | 0.08 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SGD 9.98bn | SGD 8.46bn | SGD 8.26bn | SGD 8.88bn | SGD 8.49bn | SGD 7.76bn | SGD 7.45bn | SGD 7.78bn | SGD 7.60bn | SGD 7.54bn |
| Cash and short-term investments | — | — | — | — | — | SGD 157.4m | SGD 124.8m | SGD 258.9m | SGD 198.2m | SGD 278.7m |
| Total liabilities | SGD 3.97bn | SGD 2.82bn | SGD 2.51bn | SGD 3.02bn | SGD 2.90bn | SGD 2.96bn | SGD 2.71bn | SGD 2.88bn | SGD 2.69bn | SGD 2.64bn |
| Debt | SGD 2.44bn | SGD 1.96bn | SGD 2.07bn | SGD 2.21bn | SGD 2.54bn | SGD 2.22bn | SGD 2.12bn | SGD 2.29bn | SGD 2.52bn | SGD 2.48bn |
| Shareholders' equity | SGD 5.53bn | SGD 5.19bn | SGD 5.31bn | SGD 5.42bn | SGD 5.17bn | SGD 4.80bn | SGD 4.73bn | SGD 4.91bn | SGD 4.91bn | SGD 4.90bn |
| Shares outstanding | 4,014m | 4,014m | 4,014m | 4,014m | 3,676m | 3,390m | 3,367m | 3,529m | 7,193m | 3,396m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SGD 223.3m | SGD 189.0m | SGD 169.9m | SGD 162.2m | SGD 113.7m | SGD 104.5m | SGD 92.6m | SGD 117.1m | SGD 120.0m | SGD 108.2m |
| Capital spending | −SGD 7,000 | −SGD 13,000 | −SGD 257,000 | −SGD 16,000 | −SGD 16,000 | −SGD 16,000 | −SGD 5,000 | −SGD 6,000 | −SGD 6,000 | −SGD 35,000 |
| Free cash flow | SGD 223.3m | SGD 189.0m | SGD 169.6m | SGD 162.2m | SGD 113.7m | SGD 104.4m | SGD 92.6m | SGD 117.1m | SGD 120.0m | SGD 108.1m |
| Dividends paid | −SGD 276.6m | −SGD 216.6m | −SGD 219.4m | −SGD 226.4m | −SGD 215.0m | −SGD 149.4m | −SGD 195.7m | −SGD 188.9m | −SGD 164.4m | −SGD 182.6m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2020 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 138.0m | SGD 136.5m | SGD 136.5m | SGD 125.1m | SGD 118.2m | SGD 114.9m | SGD 83.6m | SGD 94.7m |
| Gross profit | SGD 74.1m | SGD 75.8m | SGD 72.6m | SGD 64.3m | SGD 60.0m | SGD 60.0m | SGD 58.2m | SGD 48.2m |
| Operating income | SGD 74.6m | SGD 77.6m | SGD 76.9m | SGD 69.4m | SGD 67.1m | SGD 63.7m | SGD 42.1m | −SGD 69.0m |
| Net income | SGD 367.1m | SGD 76.0m | SGD 81.8m | SGD 17.2m | SGD 105.8m | SGD 62.8m | SGD 37.7m | −SGD 69.3m |
| Diluted earnings per share | 0.09 | 0.02 | 0.02 | 0.00 | 0.03 | 0.02 | 0.01 | -0.02 |
| Cash from operations | SGD 130.0m | SGD 92.0m | SGD 98.0m | SGD 90.0m | SGD 87.0m | — | — | SGD 29.0m |
| Total assets | SGD 9.98bn | SGD 8.35bn | SGD 8.46bn | SGD 8.58bn | SGD 8.26bn | SGD 8.28bn | SGD 8.28bn | SGD 7.76bn |
| Cash and short-term investments | — | — | — | — | — | — | SGD 157.3m | SGD 157.4m |
| Debt | SGD 2.44bn | SGD 2.35bn | SGD 1.96bn | SGD 2.01bn | SGD 2.07bn | SGD 2.00bn | SGD 2.00bn | SGD 2.22bn |
| Shareholders' equity | SGD 5.53bn | SGD 5.09bn | SGD 5.19bn | SGD 5.26bn | SGD 5.31bn | SGD 5.32bn | SGD 5.77bn | SGD 4.80bn |
Financial ratios
Data as of 17 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 78.7% | 77.2% | 78.3% | 80.2% | 79.7% | 47.3% | — | — | — |
| Operating margin | 221.0% | 83.2% | 117.1% | 98.0% | 106.9% | 116.3% | — | — | — |
| Net margin | 165.6% | 41.5% | 76.4% | 189.2% | 111.3% | -3.5% | — | — | — |
| Return on equity | 8.2% | 2.1% | 3.4% | 7.7% | 4.7% | -0.1% | — | — | — |
| Return on assets | 4.6% | 1.3% | 2.2% | 4.7% | 2.8% | -0.1% | — | — | — |
| Free cash flow yield | 6.7% | — | — | — | 3.7% | 3.7% | 3.3% | 4.0% | 2.0% |
| Revenue growth | 4.9% | 12.2% | 6.3% | 1.2% | 27.2% | 3.8% | — | — | — |
| Earnings growth | 319.1% | -39.1% | -57.1% | 72.0% | -4171.7% | -104.6% | — | — | — |
| Current ratio | 0.11x | 0.14x | 0.50x | 1.11x | 0.83x | 0.79x | — | — | — |
| Debt to equity | 0.44x | 0.38x | 0.39x | 0.41x | 0.49x | 0.46x | — | — | — |
| Equity ratio | 55.4% | 61.4% | 64.3% | 61.0% | 60.9% | 61.8% | — | — | — |
| Interest coverage | 6.84x | 2.51x | 4.20x | 3.87x | 4.68x | 4.05x | — | — | — |
| Buybacks as a share of market value | -9.2% | — | — | — | -8.4% | -0.7% | 4.6% | 50.9% | -111.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.8% | 10.0% | 4.9% |
| Operating income | 10.0% | 98.0% | -8.6% |
| Net income | 3.1% | — | 3.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 77.9% | 78.5% | 74.8% | 63.8% |
| Operating margin | 53.5% | 52.5% | 46.1% | 81.6% |
| Net margin | 105.0% | 116.9% | 101.1% | 111.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 8.6 | 32.2 | 21.0 | 8.8 | 17.2 | -641.1 | 32.8 | 26.2 | 50.3 | 13.4 |
| Price to sales | 14.3 | 13.3 | 16.0 | 16.7 | 19.2 | 22.3 | 25.4 | 24.3 | 55.1 | 21.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 20 years. Last went ex-dividend on 5 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.035 | 0.072 | 0.057 | 0.064 | 0.04 | 0.031 | 0.012 | 0.011 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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