Raffles Medical Group Ltd

Raffles Medical Group Ltd

0.64
USD
-0.03
(-4.78%)
1.18BMarket Cap
Feb 22Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.21
0.22
0.24
0.27
0.27
0.27
0.29
0.31
0.39
0.44
0.38
0.4
0.41
- -
Basic EPS, GAAP
0.05
0.04
0.04
0.04
0.04
0.04
0.03
0.04
0.05
0.08
0.05
0.03
0.04
- -
Free Cash Flow per Basic Share
0.04
0.05
0.02
0.04
0.04
0.03
0.01
0.04
0.06
0.09
0.09
0.04
0.05
- -
Dividend per Share
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.02
0.03
0.04
0.02
0.03
0.01
Book Value per Share
0.28
0.32
0.35
0.38
0.41
0.45
0.46
0.48
0.51
0.55
0.55
0.56
0.58
0.47
Tangible Book Value per Share
0.28
0.32
0.33
0.36
0.39
0.42
0.44
0.46
0.5
0.53
0.54
0.56
0.57
0.45
Basic Weighted Avg Shares
1,650
1,678
1,711
1,738
1,761
1,784
1,813
1,839
1,868
1,857
1,859
1,857
1,850
1,821
Sales/Revenue/Turnover
341
375
411
474
478
489
522
568
724
823
707
752
765
- -
Operating Margin (%)
27.66
21.44
19.63
17.3
16.77
17.84
14.99
15.9
17.49
25.98
15.39
11.49
11.65
- -
Depreciation Expense
8
10
13
15
15
18
29
35
39
40
38
43
45
- -
Net Income, GAAP
85
68
69
70
71
71
60
66
84
143
90
62
71
- -
Effective Tax Rate (%)
10.44
16.39
15.41
18.07
15.04
15.84
20.29
23.41
27.57
25.05
23.74
28.38
24.06
- -
Profit Margin (%)
24.9
18.05
16.88
14.82
14.82
14.53
11.55
11.6
11.63
17.4
12.75
8.28
9.22
- -
Working Capital
222
91
14
39
1
12
27
51
22
131
105
134
102
24
LT Debt
- -
7
21
17
38
97
181
166
92
77
82
72
27
174
Total Equity
474
540
622
682
752
817
857
914
977
1,028
1,044
1,065
1,056
879
Return on Invested Capital (%)
18.69
12.76
11.06
9.64
8.67
7.92
6.02
6.12
7.49
12.32
7.5
5.01
5.85
- -
Return on Capital (%)
19.05
13.05
11.53
10.63
9.47
8.2
6.19
6.53
7.78
12.89
8.25
5.76
6.37
- -
Return on Common Equity (%)
19.72
13.38
12.14
11.06
10.11
9.26
7.34
7.57
9.05
14.52
8.84
5.99
6.69
- -

Capital Structure

SGD

•

in mil. unless spec.
Sep'19
Dec'19
Jun'20
ST Debt
16
19
28
LT Borrowings
119
157
150
LT Finance Leases
14
25
23
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,828
1,828
1,829
Market Capitalization
1,750
1,865
1,642

Working Capital

SGD

•

in mil. unless spec.
Sep'19
Dec'19
Jun'20
Total Current Assets
222
246
269
Cash, Cash Equivalents & STI
118
152
153
Accounts Receivable, Net
94
84
103
Inventories
10
10
13
Total Current Liabilities
213
219
245
Payables & Accruals
- -
- -
- -
ST Debt
16
19
28
Deferred Revenue
- -
- -
- -

Growth Rates

SGD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.49%
2.96%
-0.85%
Free Cash Flow
54.13%
16.56%
39.73%
Net Income, GAAP
3.99%
8.65%
13.38%
Sales/Revenue/Turnover
6.93%
7.03%
1.83%
Total Cash Common Dividend
19.07%
27.34%
3.81%

Semi-annual Revenue

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
752
2025
- -
- -
765
2026
- -
- -
- -

Semi-annual Earnings Per Share

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.03
2025
- -
- -
0.04
2026
- -
- -
- -

Semi-annual Dividends Per Share

SGD

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.02
2025
- -
- -
0.03
2026
- -
- -
- -

Company Description

CEO
Choon Yong Loo
Full Time Employees
2,965
Sector
Health services
Industry
Hospital/Nursing management
Address
585 North Bridge Road Singapore SE Singapore 188770
IPO Date
Apr 11, 1997
Business
Raffles Medical Group Ltd (SGX: BSL) operates as one of Asia's leading integrated private healthcare providers, delivering a comprehensive continuum of primary, secondary, tertiary, and wellness care services through its network of facilities across Singapore, China, Japan, Vietnam, and Cambodia. The company owns and manages Raffles Hospital, a tertiary care facility in Singapore featuring over 25 specialist centres covering cardiology, oncology, orthopaedics, obstetrics and gynaecology, neurology, and other disciplines including 24-hour acute and critical care, inpatient wards, intensive care units, and advanced diagnostic services such as radiology, nuclear medicine, and angiography suites; a network exceeding 100 multi-disciplinary clinics under Raffles Medical offering family medicine, emergency services, health screenings, vaccinations, travel health, minor surgery, X-ray, corporate programmes, and government healthcare schemes; Raffles Dental providing general and specialist dentistry; Raffles Chinese Medicine delivering acupuncture, herbal treatments, and co-management with Western specialists for fertility, pain, and women's health; Raffles Health Insurance issuing individual and corporate health policies including integrated shield plans like Raffles Shield and critical illness coverage; and Raffles Health, its consumer healthcare division, developing and distributing nutraceuticals, vitamins, supplements, and diagnostic equipment. Raffles Healthcare Institute supports training for medical professionals in family medicine, dentistry, nursing, and allied health. Headquartered in Singapore and founded in 1976, the group serves over 2.8 million patients and 7,000 corporate clients annually through operations in 14 cities including Singapore; Chongqing, Shanghai, Beijing, Tianjin, Dalian, and Nanjing in China; Hanoi, Ho Chi Minh City, and Vung Tau in Vietnam; Phnom Penh in Cambodia; Fukuoka and Osaka in Japan; and representative offices in Indonesia, Bangladesh, and Brunei, with airport clinics at Singapore's Changi and Hong Kong's Chek Lap Kok International Airports. In recent developments, Raffles Medical Group has expanded strategic partnerships in China, including alliances signed in March 2025 with Shanghai's Renji Hospital and in June 2025 with Chongqing's First Affiliated Hospital to establish cross-border medical cooperation models integrating international standards with local expertise, enhancing patient access to specialists and supporting China's Healthy China 2030 initiative; a memorandum of understanding with AIA Singapore to integrate over 90 Raffles specialists into its Quality Healthcare Partners panel, streamlining claims and promoting value-based care; and an October 2025 MOU with Gene Solutions to accelerate oncology clinical trials and precision medicine in Southeast Asia. The group also reported 1H 2025 revenue growth of 3.5% to S$378.4 million and profit after tax up 5.0% to S$32.5 million, bolstered by Hospital Services and reduced losses in Raffles Health Insurance through enhanced claims management, while revising its dividend policy to at least 50% of sustainable earnings and authorizing up to 100 million share buybacks over two years.

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