2.35
-2.49%
Close of 6 Nov 2026, in SGD
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At a glance
Figures in SGD, from our data supplier.
Revenue
SGD 1.57bn
FY2016FY2025
Net income
SGD 149.5m
FY2016FY2025
Free cash flow
SGD 215.8m
FY2016FY2025
Shareholders' equity
SGD 588.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 1.57bn | SGD 1.43bn | SGD 1.37bn | SGD 1.34bn | SGD 1.37bn | SGD 1.39bn | SGD 991.3m | SGD 890.9m | SGD 829.9m | SGD 796.7m |
| Gross profit | SGD 491.6m | SGD 435.5m | SGD 410.5m | SGD 393.5m | SGD 393.3m | SGD 381.9m | SGD 266.9m | SGD 238.4m | SGD 217.4m | SGD 204.7m |
| Operating income | SGD 175.8m | SGD 159.7m | SGD 155.4m | SGD 162.2m | SGD 162.2m | SGD 166.1m | SGD 92.6m | SGD 83.8m | SGD 81.9m | SGD 75.6m |
| Net income | SGD 149.5m | SGD 137.5m | SGD 133.7m | SGD 133.3m | SGD 132.8m | SGD 138.7m | SGD 75.7m | SGD 70.8m | SGD 69.8m | SGD 62.7m |
| Diluted earnings per share | 0.10 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.05 | 0.05 | 0.05 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SGD 1.07bn | SGD 935.1m | SGD 830.2m | SGD 785.1m | SGD 739.0m | SGD 692.1m | SGD 532.8m | SGD 436.3m | SGD 403.6m | SGD 387.8m |
| Cash and short-term investments | — | — | — | — | — | SGD 253.9m | SGD 76.4m | SGD 87.2m | SGD 73.4m | SGD 63.5m |
| Total liabilities | SGD 480.6m | SGD 396.8m | SGD 333.2m | SGD 329.9m | SGD 322.7m | SGD 319.7m | SGD 219.5m | SGD 146.1m | SGD 132.9m | SGD 135.7m |
| Debt | — | — | — | — | — | SGD 38.1m | SGD 87.2m | — | — | — |
| Shareholders' equity | SGD 588.0m | SGD 534.9m | SGD 493.8m | SGD 452.2m | SGD 413.4m | SGD 372.4m | SGD 313.3m | SGD 290.2m | SGD 270.7m | SGD 252.1m |
| Shares outstanding | 1,504m | 1,504m | 1,504m | 1,504m | 1,504m | 1,504m | 1,504m | 1,498m | 1,502m | 1,509m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SGD 236.6m | SGD 219.0m | SGD 177.1m | SGD 166.8m | SGD 172.7m | SGD 274.1m | SGD 117.3m | SGD 92.2m | SGD 78.5m | SGD 78.1m |
| Capital spending | −SGD 20.9m | −SGD 18.2m | −SGD 10.2m | −SGD 8.8m | −SGD 31.7m | −SGD 17.1m | −SGD 53.6m | −SGD 28.2m | −SGD 17.7m | −SGD 89.9m |
| Free cash flow | SGD 215.8m | SGD 200.8m | SGD 166.9m | SGD 158.0m | SGD 141.0m | SGD 257.0m | SGD 63.7m | SGD 64.1m | SGD 60.8m | −SGD 11.8m |
| Dividends paid | −SGD 96.2m | −SGD 96.2m | −SGD 92.0m | −SGD 94.0m | −SGD 91.7m | −SGD 79.7m | −SGD 52.6m | −SGD 51.1m | −SGD 51.1m | −SGD 54.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 402.6m | SGD 452.8m | SGD 389.8m | SGD 415.5m | SGD 361.7m | SGD 403.0m | SGD 351.3m | SGD 363.2m |
| Gross profit | SGD 132.1m | SGD 140.3m | SGD 143.1m | SGD 131.1m | SGD 113.6m | SGD 122.0m | SGD 106.7m | SGD 113.8m |
| Operating income | SGD 43.5m | SGD 50.2m | SGD 35.6m | SGD 48.9m | SGD 37.2m | SGD 43.3m | SGD 28.1m | SGD 44.1m |
| Net income | SGD 37.6m | SGD 43.2m | SGD 33.4m | SGD 43.7m | SGD 33.8m | SGD 38.6m | SGD 28.5m | SGD 39.1m |
| Diluted earnings per share | 0.03 | 0.03 | 0.02 | 0.03 | 0.02 | 0.03 | 0.02 | 0.03 |
| Cash from operations | SGD 15.0m | SGD 39.0m | SGD 61.0m | — | SGD 58.0m | SGD 27.0m | SGD 66.0m | SGD 59.0m |
| Capital spending | −SGD 5.0m | −SGD 2.0m | −SGD 7.0m | — | −SGD 2.0m | −SGD 4.0m | −SGD 7.0m | −SGD 4.0m |
| Free cash flow | SGD 10.0m | SGD 37.0m | SGD 54.0m | — | SGD 56.0m | SGD 23.0m | SGD 59.0m | SGD 55.0m |
| Total assets | SGD 1.01bn | SGD 1.07bn | SGD 1.07bn | SGD 937.9m | SGD 924.3m | SGD 939.8m | SGD 935.1m | SGD 836.1m |
| Cash and short-term investments | — | — | — | SGD 393.7m | — | — | — | — |
| Debt | — | — | — | SGD 60.2m | — | — | — | — |
| Shareholders' equity | SGD 611.9m | SGD 631.3m | SGD 588.0m | SGD 554.6m | SGD 558.9m | SGD 573.4m | SGD 534.9m | SGD 506.5m |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 31.3% | 30.5% | 30.0% | 29.4% | 28.7% | 27.4% | — | — | — | — |
| Operating margin | 11.8% | 12.1% | 12.2% | 11.7% | 11.5% | 9.4% | — | — | — | — |
| Net margin | 9.5% | 9.6% | 9.8% | 10.0% | 9.7% | 9.9% | — | — | — | — |
| Return on equity | 25.4% | 25.7% | 27.1% | 29.5% | 32.1% | 37.2% | — | — | — | — |
| Return on assets | 13.9% | 14.7% | 16.1% | 17.0% | 18.0% | 20.0% | — | — | — | — |
| Free cash flow yield | — | — | — | — | 4.0% | 6.4% | 2.7% | 2.1% | 1.8% | 1.8% |
| Revenue growth | 9.9% | 4.5% | 2.1% | -2.2% | -1.7% | 40.6% | — | — | — | — |
| Earnings growth | 8.7% | 2.9% | 0.3% | 0.4% | -4.2% | 83.1% | — | — | — | — |
| Current ratio | 1.62x | 1.55x | 1.68x | 1.49x | 1.32x | 1.28x | — | — | — | — |
| Debt to equity | — | — | — | — | 0.00x | 0.04x | 0.18x | — | — | — |
| Equity ratio | 54.9% | 57.2% | 59.5% | 57.6% | 55.9% | 53.8% | — | — | — | — |
| Interest coverage | 34.70x | 38.66x | 47.37x | 56.36x | 66.59x | 65.15x | — | — | — | — |
| Buybacks as a share of market value | — | — | — | — | 0.0% | 0.0% | -0.4% | 0.3% | 0.5% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.4% | 2.4% | 7.5% |
| Operating income | 2.7% | 1.1% | 10.2% |
| Net income | 3.9% | 1.5% | 10.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.9% | 30.3% | 29.6% | 28.4% |
| Operating margin | 11.2% | 11.4% | 11.6% | 10.8% |
| Net margin | 9.6% | 9.7% | 9.7% | 9.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 26.5 | 17.9 | 18.0 | 18.6 | 16.5 | 16.7 | 24.6 | 22.4 | 19.9 | 22.8 |
| Price to sales | 2.5 | 1.7 | 1.8 | 1.9 | 1.6 | 1.7 | 1.9 | 1.8 | 1.7 | 1.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 14 years. Last went ex-dividend on 4 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.038 | 0.064 | 0.064 | 0.061 | 0.063 | 0.061 | 0.053 | 0.035 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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