2.85
-1.38%
Close of 6 Nov 2026, in SGD
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At a glance
Figures in SGD, from our data supplier.
Revenue
SGD 1.42bn
FY2017FY2026
Net income
SGD 168.9m
FY2017FY2026
Free cash flow
−SGD 21.9m
FY2017FY2026
Shareholders' equity
SGD 1.76bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 1.42bn | SGD 1.25bn | SGD 1.09bn | SGD 796.0m | SGD 566.1m | SGD 443.0m | SGD 994.1m | SGD 1.02bn | SGD 1.09bn | SGD 1.10bn |
| Gross profit | SGD 438.2m | SGD 364.5m | SGD 305.9m | SGD 236.0m | SGD 183.7m | SGD 144.3m | SGD 308.0m | SGD 333.6m | SGD 357.7m | SGD 351.2m |
| Operating income | SGD 29.4m | SGD 14.6m | SGD 2.4m | −SGD 26.3m | −SGD 21.9m | −SGD 25.0m | SGD 67.7m | SGD 56.8m | SGD 76.4m | SGD 72.0m |
| Net income | SGD 168.9m | SGD 139.6m | SGD 97.1m | SGD 66.4m | SGD 67.6m | −SGD 11.2m | SGD 193.8m | SGD 160.9m | SGD 186.8m | SGD 332.4m |
| Diluted earnings per share | 0.15 | 0.12 | 0.09 | 0.06 | 0.06 | -0.01 | 0.17 | 0.14 | 0.17 | 0.30 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SGD 2.27bn | SGD 2.14bn | SGD 2.09bn | SGD 1.98bn | SGD 1.84bn | SGD 1.81bn | SGD 2.01bn | SGD 1.85bn | SGD 1.82bn | SGD 1.92bn |
| Cash and short-term investments | — | — | SGD 646.0m | SGD 633.0m | SGD 625.5m | SGD 616.0m | SGD 519.6m | SGD 521.6m | SGD 499.8m | SGD 601.7m |
| Total liabilities | SGD 492.9m | SGD 399.9m | SGD 385.1m | SGD 306.6m | SGD 216.8m | SGD 265.5m | SGD 344.5m | SGD 281.2m | SGD 291.4m | SGD 330.4m |
| Debt | SGD 2.3m | SGD 3.2m | SGD 110.4m | SGD 115.2m | SGD 69.7m | SGD 84.1m | SGD 112.4m | SGD 19.3m | SGD 21.9m | SGD 26.0m |
| Shareholders' equity | SGD 1.76bn | SGD 1.72bn | SGD 1.69bn | SGD 1.67bn | SGD 1.61bn | SGD 1.53bn | SGD 1.63bn | SGD 1.53bn | SGD 1.50bn | SGD 1.55bn |
| Shares outstanding | 1,119m | 1,119m | 1,124m | 1,126m | 1,123m | 1,126m | 1,121m | 1,125m | 1,122m | 1,119m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SGD 26.3m | SGD 167.0m | SGD 100.4m | SGD 64.6m | SGD 29.2m | SGD 165.8m | SGD 91.0m | SGD 75.3m | SGD 54.4m | SGD 131.8m |
| Capital spending | −SGD 48.2m | −SGD 64.4m | −SGD 39.2m | −SGD 59.6m | −SGD 23.3m | −SGD 20.4m | −SGD 43.6m | −SGD 39.8m | −SGD 43.0m | −SGD 43.5m |
| Free cash flow | −SGD 21.9m | SGD 102.6m | SGD 61.2m | SGD 5.0m | SGD 5.9m | SGD 145.4m | SGD 47.4m | SGD 35.6m | SGD 11.4m | SGD 88.3m |
| Dividends paid | −SGD 106.4m | −SGD 89.8m | −SGD 84.3m | — | — | −SGD 56.1m | −SGD 123.2m | −SGD 134.3m | −SGD 201.5m | −SGD 135.2m |
Latest quarters
By quarter end
| Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 729.0m | SGD 358.4m | SGD 668.9m | SGD 324.8m | SGD 307.5m | SGD 268.7m | SGD 288.5m | SGD 291.7m |
| Gross profit | SGD 538.4m | — | SGD 514.5m | SGD 324.8m | SGD 121.3m | SGD 268.7m | −SGD 26.1m | SGD 291.7m |
| Operating income | SGD 13.0m | SGD 5.1m | SGD 11.2m | SGD 4.7m | SGD 2.4m | SGD 1.0m | SGD 5.7m | −SGD 3.4m |
| Net income | SGD 83.3m | SGD 42.9m | SGD 70.8m | SGD 38.2m | SGD 35.6m | SGD 33.2m | SGD 10.9m | SGD 26.9m |
| Diluted earnings per share | 0.07 | 0.04 | 0.06 | 0.03 | 0.03 | 0.03 | 0.01 | 0.02 |
| Cash from operations | SGD 14.0m | — | SGD 195.0m | — | — | — | SGD 104.0m | — |
| Capital spending | −SGD 19.0m | — | −SGD 27.0m | — | — | — | −SGD 26.0m | — |
| Free cash flow | −SGD 5.0m | — | SGD 168.0m | — | — | — | SGD 78.0m | — |
| Total assets | SGD 2.10bn | SGD 2.15bn | SGD 2.14bn | — | SGD 2.01bn | — | SGD 2.09bn | — |
| Cash and short-term investments | SGD 575.2m | — | — | SGD 493.2m | SGD 493.2m | SGD 646.0m | SGD 646.0m | SGD 593.7m |
| Debt | SGD 63.3m | — | SGD 3.2m | — | SGD 31.6m | — | SGD 30.4m | — |
| Shareholders' equity | SGD 1.69bn | SGD 1.73bn | SGD 1.72bn | SGD 1.66bn | SGD 1.65bn | SGD 1.70bn | SGD 1.69bn | SGD 1.69bn |
Financial ratios
Data as of 21 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 30.8% | 29.3% | 28.0% | 29.6% | 32.5% | 32.6% | — |
| Operating margin | 13.0% | 12.1% | 0.1% | -1.3% | -4.8% | -16.4% | — |
| Net margin | 11.9% | 11.2% | 8.9% | 8.3% | 11.9% | -2.5% | — |
| Return on equity | 9.6% | 8.1% | 5.8% | 4.0% | 4.2% | -0.7% | — |
| Return on assets | 7.4% | 6.5% | 4.7% | 3.3% | 3.7% | -0.6% | — |
| Free cash flow yield | 2.3% | — | 4.3% | 3.8% | 1.6% | 5.7% | 4.1% |
| Revenue growth | 14.3% | 13.8% | 37.5% | 40.6% | 27.8% | -55.4% | — |
| Earnings growth | 21.0% | 43.7% | 46.3% | -1.8% | -701.0% | -105.8% | — |
| Current ratio | 2.66x | 2.88x | 3.32x | 4.42x | 5.13x | 4.43x | — |
| Debt to equity | 0.00x | 0.00x | 0.02x | 0.02x | 0.02x | 0.02x | — |
| Equity ratio | 77.3% | 80.3% | 80.8% | 84.0% | 87.6% | 84.7% | — |
| Interest coverage | 34.76x | 39.18x | 0.13x | -5.29x | -10.37x | -24.83x | — |
| Buybacks as a share of market value | 0.4% | — | 0.2% | -0.2% | 0.3% | -0.4% | 0.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.4% | 26.3% | 2.5% |
| Operating income | — | — | -11.9% |
| Net income | 36.5% | — | -0.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.1% | 29.5% | 30.0% | 31.6% |
| Operating margin | 1.6% | 0.4% | -0.5% | 3.2% |
| Net margin | 11.6% | 10.4% | 9.5% | 14.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 19.1 | 28.9 | 27.4 | 40.2 | 38.9 | -218.2 | 11.4 | 19.7 | 13.6 | 10.5 |
| Price to sales | 2.3 | 3.2 | 2.4 | 3.4 | 4.6 | 5.5 | 2.2 | 3.1 | 2.3 | 3.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 29 Jul 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.085 | 0.095 | 0.14 | 0.075 | 0.05 | 0.11 | 0.12 | 0.09 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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