ISEC Healthcare Ltd

ISEC Healthcare Ltd

SSGX:40T
0.31
SGD
+0.02
(+6.90%)
0.02EPS
14.39P/E
181.35MMarket Cap
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
0.05
0.08
0.06
0.06
0.07
0.08
0.08
0.07
0.07
0.11
0.12
0.13
0.14
0.14
Basic EPS, GAAP
0.01
0.01
0.01
0.01
0.02
0.02
0.01
0.01
0.01
0.02
0.02
0.02
0.02
0.02
Free Cash Flow per Basic Share
- -
- -
0.01
0.01
0.01
0.02
0.02
0.01
0.02
0.02
0.02
0.01
- -
- -
Dividend per Share
- -
0.01
- -
0.01
0.01
0.01
0.02
- -
0.02
0.01
0.02
0.01
0.01
0.01
Book Value per Share
0.01
0.1
0.11
0.12
0.13
0.13
0.12
0.13
0.12
0.14
0.14
0.16
0.18
0.18
Tangible Book Value per Share
0.01
0.07
0.05
0.04
0.05
0.06
0.05
0.05
0.05
0.04
0.05
0.06
0.08
0.09
Basic Weighted Avg Shares
351
266
461
492
517
517
528
548
550
564
573
575
576
576
Sales/Revenue/Turnover
18
22
27
31
37
40
43
36
40
63
70
74
79
82
Operating Margin (%)
18.8
15.01
16.9
24.86
25.75
26.64
25.28
21.33
22.47
28.56
26.24
24.63
22.46
20.28
Depreciation Expense
1
1
1
1
2
2
3
3
3
3
4
4
5
5
Net Income, GAAP
3
2
3
6
8
8
7
5
7
13
13
13
13
13
Effective Tax Rate (%)
29.89
39.58
31.15
18.75
21.77
22.48
26.81
31.59
24.29
24.14
24.05
24.98
24.23
24.68
Profit Margin (%)
15.3
8.94
10.34
20.93
21.38
20.79
17.41
12.91
17.06
19.89
18.52
17.28
16.88
15.42
Working Capital
- -
27
24
19
25
26
23
20
17
12
13
8
17
17
LT Debt
- -
- -
- -
- -
- -
- -
3
7
7
11
10
10
25
24
Total Equity
2
44
52
61
66
68
64
72
69
81
82
92
104
107
Return on Invested Capital (%)
- -
7.88
5.4
10.94
11.58
12.28
10.18
5.66
8.49
15.21
14.42
12.39
11.3
10.28
Return on Capital (%)
- -
8.83
5.82
11.36
12.48
12.15
11.54
6.97
9.04
14.61
13.98
13.24
11.72
10.9
Return on Common Equity (%)
- -
8.5
5.76
11.42
12.47
12.65
11.44
6.96
9.87
16.85
16.15
15.02
13.93
12.75

Capital Structure

SGD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
2
2
2
LT Borrowings
17
16
16
LT Finance Leases
8
8
8
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
576
576
576
Market Capitalization
181
196
181

Working Capital

SGD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
34
32
32
Cash, Cash Equivalents & STI
24
23
21
Accounts Receivable, Net
6
4
5
Inventories
3
3
3
Total Current Liabilities
17
13
15
Payables & Accruals
- -
- -
- -
ST Debt
2
2
2
Deferred Revenue
- -
- -
- -

Growth Rates

SGD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.44%
7.92%
12.9%
Free Cash Flow
2.44%
-8.34%
-111.48%
Net Income, GAAP
24.94%
27.05%
4.23%
Sales/Revenue/Turnover
12.65%
18.18%
6.76%
Total Cash Common Dividend
52.17%
47.06%
-39.14%

Quarterly Revenue

SGD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
17
18
19
20
74
2025
18
20
- -
21
79
2026
19
22
- -
- -
- -

Quarterly Earnings Per Share

SGD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
0.01
0.01
- -
0.02
2025
0.01
0.01
- -
- -
0.02
2026
- -
0.01
- -
- -
- -

Quarterly Dividends Per Share

SGD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.01
- -
- -
0.01
2025
- -
0.01
- -
- -
0.01
2026
- -
0.01
- -
- -
- -

Company Description

CEO
Jun Shyan Wong
Full Time Employees
366
Sector
Health services
Industry
Medical/Nursing services
Address
Singapore Singapore
IPO Date
Oct 28, 2014
Business
ISEC Healthcare Ltd. is an investment holding company and comprehensive regional provider of specialized medical eye care and general healthcare services. The company operates through two core business segments: Specialized Health Services and General Health Services. Under its Specialized Health Services segment, the company delivers tertiary and quaternary ophthalmic care through an extensive network of ambulatory surgical centers and specialist clinics operating primarily under the ISEC brand, Southern Specialist Eye Centre, Indah Specialist Eye Centre, and Ipoh Eye Specialist Centre. Its clinical offerings encompass cataract and refractive surgery, including phacoemulsification, femtosecond laser-assisted cataract surgery, premium intraocular lens implantation, LASIK, photorefractive keratectomy, and implantable collamer lens procedures; vitreoretinal disease management, such as pars plana vitrectomy, retinal laser photocoagulation, and anti-vascular endothelial growth factor intravitreal injections for diabetic retinopathy and age-related macular degeneration; corneal and external eye disease treatments, including corneal collagen cross-linking, pterygium excision, and penetrating or lamellar corneal transplantation; glaucoma diagnostics and interventions, comprising medical therapies, selective laser trabeculoplasty, trabeculectomy, and minimally invasive glaucoma surgery; paediatric ophthalmology and adult strabismus correction; uveitis and ocular immunology consultations; neuro-ophthalmic evaluations; oculoplastic, orbital, and reconstructive surgery, alongside facial aesthetics; and optometry and optical dispensary services. Under its General Health Services segment, the group operates general practice clinics under the JL Medical brand, providing outpatient medical consultations, routine health screenings, occupational health examinations, and minor procedural treatments. Tracing its operational origins to 2007 and formally incorporated in 2014, ISEC Healthcare Ltd. is headquartered in Singapore and operates as a subsidiary of Aier Eye International (Singapore) Pte. Ltd., serving private patients, corporate clients, and medical tourists across Singapore, Malaysia, and Myanmar. In recent developments, the group has accelerated its regional clinical network expansion, executing a joint venture agreement to establish specialist operations in Muar, Johor, while securing regulatory licensing and launching newly expanded specialist centers in Sitiawan, Taiping, and Teluk Intan in Perak, alongside clinic expansions in Seremban, Klang, and Kuching. Additionally, the company made unconditional its acquisition of strata-titled property units in Kuala Lumpur for the development of a flagship purpose-built medical center scheduled for operation in 2027, advanced its international presence in Myanmar via the ARYU International Specialist Eye Centre in Yangon, and appointed an Acting Deputy Chief Executive Officer to spearhead ongoing regional growth and strategic integration.