Raffles Medical Group
Market Cap
S$1.7b
Last Updated
2020/07/15 12:44 UTC
Data Sources
Company Financials +
Executive Summary
Raffles Medical Group Ltd provides integrated private healthcare services primarily in Singapore, Greater China, Vietnam, Cambodia, and Japan.
Rewards
Risk Analysis
No risks detected for BSL from our risk checks.
Snowflake Analysis
Excellent balance sheet second-rate dividend payer.
Similar Companies
Share Price & News
How has Raffles Medical Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BSL has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.5%
BSL
3.0%
SG Healthcare
-1.7%
SG Market
1 Year Return
-10.6%
BSL
-13.5%
SG Healthcare
-22.7%
SG Market
Return vs Industry: BSL exceeded the SG Healthcare industry which returned -13.5% over the past year.
Return vs Market: BSL exceeded the SG Market which returned -22.7% over the past year.
Shareholder returns
| BSL | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.5% | 3.0% | -1.7% |
| 30 Day | 4.5% | 3.1% | -1.8% |
| 90 Day | 8.8% | 5.6% | 1.2% |
| 1 Year | -10.1%-10.6% | -12.3%-13.5% | -18.5%-22.7% |
| 3 Year | -23.7%-27.3% | -32.0%-36.7% | -13.9%-24.3% |
| 5 Year | -39.6%-44.1% | -42.2%-48.1% | -8.7%-25.3% |
Price Volatility Vs. Market
How volatile is Raffles Medical Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Can Raffles Medical Group Ltd's (SGX:BSL) Weak Financials Pull The Plug On The Stock's Current Momentum On Its Share Price?1 month ago | Simply Wall St
We Think Raffles Medical Group (SGX:BSL) Can Stay On Top Of Its Debt1 month ago | Simply Wall St
Can We See Significant Insider Ownership On The Raffles Medical Group Ltd (SGX:BSL) Share Register?Valuation
Is Raffles Medical Group undervalued compared to its fair value and its price relative to the market?
14.0%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BSL (SGD0.93) is trading below our estimate of fair value (SGD1.08)
Significantly Below Fair Value: BSL is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: BSL is poor value based on its PE Ratio (28x) compared to the SG Healthcare industry average (21.4x).
PE vs Market: BSL is poor value based on its PE Ratio (28x) compared to the SG market (12.1x).
Price to Earnings Growth Ratio
PEG Ratio: BSL is poor value based on its PEG Ratio (4.9x)
Price to Book Ratio
PB vs Industry: BSL's PB Ratio (2x) is in line with the SG Healthcare industry average.
Next Steps
Future Growth
How is Raffles Medical Group forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?
5.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BSL's forecast earnings growth (5.7% per year) is above the savings rate (2.2%).
Earnings vs Market: BSL's earnings (5.7% per year) are forecast to grow slower than the SG market (8.6% per year).
High Growth Earnings: BSL's earnings are forecast to grow, but not significantly.
Revenue vs Market: BSL's revenue (9% per year) is forecast to grow faster than the SG market (4.2% per year).
High Growth Revenue: BSL's revenue (9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BSL's Return on Equity is forecast to be low in 3 years time (8%).
Next Steps
Past Performance
How has Raffles Medical Group performed over the past 5 years?
-0.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BSL has high quality earnings.
Growing Profit Margin: BSL's current net profit margins (11.5%) are lower than last year (14.5%).
Past Earnings Growth Analysis
Earnings Trend: BSL's earnings have declined by 0.8% per year over the past 5 years.
Accelerating Growth: BSL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: BSL had negative earnings growth (-15.2%) over the past year, making it difficult to compare to the Healthcare industry average (4.2%).
Return on Equity
High ROE: BSL's Return on Equity (7.1%) is considered low.
Next Steps
Financial Health
How is Raffles Medical Group's financial position?
Financial Position Analysis
Short Term Liabilities: BSL's short term assets (SGD246.0M) exceed its short term liabilities (SGD219.0M).
Long Term Liabilities: BSL's short term assets (SGD246.0M) exceed its long term liabilities (SGD209.0M).
Debt to Equity History and Analysis
Debt Level: BSL's debt to equity ratio (21%) is considered satisfactory.
Reducing Debt: BSL's debt to equity ratio has increased from 1.2% to 21% over the past 5 years.
Debt Coverage: BSL's debt is well covered by operating cash flow (61.9%).
Interest Coverage: BSL's interest payments on its debt are well covered by EBIT (303.4x coverage).
Balance Sheet
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Dividend
What is Raffles Medical Group current dividend yield, its reliability and sustainability?
2.69%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: BSL's dividend (2.69%) isn’t notable compared to the bottom 25% of dividend payers in the SG market (2.7%).
High Dividend: BSL's dividend (2.69%) is low compared to the top 25% of dividend payers in the SG market (6.07%).
Stability and Growth of Payments
Stable Dividend: BSL's dividend payments have been volatile in the past 10 years.
Growing Dividend: BSL's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (75.2%), BSL's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BSL's dividends in 3 years are forecast to be covered by earnings (67.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
0.3yrs
Average management tenure
CEO
Choon Yong Loo (71yo)
no data
Tenure
Dr. Choon Yong Loo co-founded Raffles Medical Group Ltd in 1976 and has been its Executive Chairman since 1997. Dr. Loo serves as Chief Executive Officer at Raffles Medical Group Ltd. In the area of public ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive & Non-Independent Director | 2.42yrs | no data | 0.0027% SGD45.9k | |
| Executive Chairman & CEO | no data | no data | 10.37% SGD174.6m | |
| Chief Financial Officer | 0.33yr | no data | no data | |
| Chief ?Information ?Officer | 2.5yrs | no data | no data | |
| Senior Manager of Corporate Communications | no data | no data | no data | |
| Director of Group Human Capital | 0.17yr | no data | no data | |
| General Manager of Raffles Medical | no data | no data | no data | |
| Group Financial Controller & Company Secretary | 13.5yrs | no data | no data | |
| General Manager of Raffles Hospital | no data | no data | no data | |
| Medical Director of Raffles Hospital | no data | no data | no data | |
| Senior Clinical Director of Raffles Medical | no data | no data | no data | |
| Medical Director of Raffles Hospital | no data | no data | no data |
0.3yrs
Average Tenure
54yo
Average Age
Experienced Management: BSL's management team is not considered experienced ( 0.3 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive & Non-Independent Director | 2.42yrs | no data | 0.0027% SGD45.9k | |
| Executive Chairman & CEO | no data | no data | 10.37% SGD174.6m | |
| Non-Executive & Lead Independent Director | 6.5yrs | no data | 0.034% SGD566.8k | |
| Non-Executive & Independent Director | 5.25yrs | no data | no data | |
| Non-Executive & Non-Independent Director | 20yrs | no data | 0.25% SGD4.2m | |
| Non-Executive & Independent Director | 19.67yrs | no data | 0.19% SGD3.2m | |
| Non-Executive & Non-Independent Director | 5.75yrs | no data | 0.013% SGD220.8k | |
| Non-Executive & Independent Director | 8.5yrs | no data | 0.017% SGD282.0k | |
| Non-Executive & Independent Director | 1.75yrs | no data | no data | |
| Non-Executive & Independent Director | 7.25yrs | no data | 0.0082% SGD138.0k |
6.9yrs
Average Tenure
65yo
Average Age
Experienced Board: BSL's board of directors are considered experienced (6.9 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Raffles Medical Group Ltd's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Raffles Medical Group Ltd
- Ticker: BSL
- Exchange: SGX
- Founded: 1976
- Industry: Health Care Facilities
- Sector: Healthcare
- Market Cap: S$1.683b
- Shares outstanding: 1.83b
- Website: https://www.rafflesmedicalgroup.com/raffles-medical-group
Number of Employees
Location
- Raffles Medical Group Ltd
- 585 North Bridge Road
- Raffles Hospital, No. 11-00
- Singapore
- 188770
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| RAFL.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Apr 1997 |
| BSL | SGX (Singapore Exchange) | Yes | Ordinary Shares | SG | SGD | Apr 1997 |
Biography
Raffles Medical Group Ltd provides integrated private healthcare services primarily in Singapore, Greater China, Vietnam, Cambodia, and Japan. The company operates through Healthcare Services, Hospital Services, and Investment Holdings segments. Its flagship hospital is the Raffles Hospital, a tertiary care hospital that offers cancer, children and women care, Chinese medicine, counselling, dental, dialysis, diabetes and endocrinology, ear, nose, throat, eye, fertility, heart, internal medicine, neuroscience, pain management, rehabilitation, orthopedic, skin and aesthetics, surgery, nuclear medicine, and urology services. The company also offers emergency services, family medicine services, health screening, and various multi-disciplinary specialist clinic services. Raffles Medical Group Ltd was founded in 1976 and is based in Singapore.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/07/15 12:44 |
| End of Day Share Price | 2020/07/15 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.