Singapore Institute of Advanced Medicine Holdings Ltd. (9G2) AI Stock Analysis

• Market Cap: S$52.95M
• Dividend Yield: N/A
• Average Volume (3M): 247.96K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.13
• Revenue Growth: -5.63%
• EPS Growth: 28.29%
• Country: SG
• Employees: 107
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): >-0.01
• Shares Outstanding: 1,231,494,600
• 10 Day Avg. Volume: 138,640
• 30 Day Avg. Volume: 247,960
• PEG Ratio: 0.04
• Price to Book (P/B): 0.55
• Price to Sales (P/S): 1.94
• P/FCF Ratio: -2.83
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: S$0.05 ▼(-34.29% Downside)
• Action: Upgraded Date: 03/12/26
• Date: Action: Upgraded 03/12/26

The score is primarily held back by weak financial quality—ongoing losses, negative operating cash flow, and high leverage—despite exceptional revenue growth. Technical indicators add mild downside pressure (negative MACD, sub-40 RSI), and valuation is difficult to support given negative earnings and no stated dividend.

Positive Factors

Very strong revenue growth (95.43%)

Sustained ~95% top-line expansion provides a larger revenue base and evidences demand or successful commercial traction. Over months this scale can help absorb fixed costs, support reinvestment in services or capacity, and enable path to operating leverage if margins improve.

High free cash flow growth (91.31%)

A near-doubling in free cash flow growth suggests improving cash conversion trends even if levels are currently negative. If sustained, this dynamic reduces future external funding needs, supports working capital and capex funding, and indicates operational improvements over the medium term.

Relatively stable equity ratio

A stable equity base provides a solvency buffer against shocks and helps retain creditor confidence. That stability supports access to capital and preserves operational continuity while management works to convert revenue growth into durable profitability and cash generation.

Negative Factors

Persistent negative profitability

Consistent negative EBIT and net margins show the business is not converting revenue into profit. Continued losses erode retained earnings, restrict reinvestment, and prolong dependence on external funding. Without margin improvement, growth may not translate into shareholder value.

Negative operating cash flow

Core operations consuming cash indicates the business is not self-funding day-to-day activities. Persistent negative operating cash flow raises liquidity risk, increases reliance on debt or equity raises, and may force trade-offs on capex or growth initiatives if not reversed.

Elevated leverage (debt-to-equity 1.05)

A debt/equity ratio above 1 signals significant leverage that amplifies financial risk, especially given operating losses and negative cash flow. High leverage constrains strategic flexibility, raises refinancing and interest burden, and increases downside vulnerability over the medium term.

Singapore Institute of Advanced Medicine Holdings Ltd. Business Overview & Revenue Model

Company Description

Singapore Institute of Advanced Medicine Holdings Ltd. operates as a holding company with interest in providing healthcare services. It offers pharmaceutical, surgical supplies and medical laboratory services. The company was founded by Djeng Shih Kien on November 24, 2011 and is headquartered in Singapore.

Singapore Institute of Advanced Medicine Holdings Ltd. Financial Statement Overview

Summary

Very strong revenue growth (95.43%) is a clear positive, but it is outweighed by persistent negative profitability (negative net and EBIT margins), negative ROE, negative operating cash flow, and elevated leverage (debt-to-equity 1.05), which raise sustainability and financial risk concerns.

Income Statement

The company shows a significant revenue growth rate of 95.43% in the latest year, indicating strong top-line expansion. However, profitability remains a concern with negative net profit margins and EBIT margins, suggesting operational inefficiencies and high costs relative to revenue. The consistent negative margins over the years highlight ongoing challenges in achieving profitability.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 1.05, indicating significant leverage, which could pose financial risk. The return on equity is negative, reflecting losses and inefficiencies in generating returns for shareholders. However, the equity ratio is relatively stable, suggesting some level of financial stability despite the high leverage.

Cash Flow

Cash flow analysis shows negative operating cash flow, indicating challenges in generating cash from core operations. The free cash flow to net income ratio is slightly above 1, suggesting that free cash flow is somewhat aligned with net income, albeit both are negative. The high free cash flow growth rate of 91.31% is a positive sign, but sustainability remains a concern given the negative cash flows.

Breakdown	TTM	Jun 2024	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	15.93M	15.71M	16.65M	16.23M	13.81M	12.92M
Gross Profit	-6.99M	14.42M	15.36M	-2.60M	-4.31M	-2.32M
EBITDA	-10.22M	-11.08M	-13.42M	-10.60M	-8.02M	-3.06M
Net Income	-25.14M	-26.16M	-37.45M	-18.07M	-12.43M	-9.35M
Balance Sheet
Total Assets	125.21M	124.71M	138.76M	159.52M	174.36M	172.08M
Cash, Cash Equivalents and Short-Term Investments	3.85M	2.84M	3.16M	11.05M	15.84M	10.29M
Total Debt	88.57M	58.21M	46.10M	80.77M	87.30M	92.26M
Total Liabilities	75.26M	69.07M	57.01M	114.60M	120.31M	112.90M
Stockholders Equity	49.95M	55.64M	81.74M	44.93M	54.05M	59.18M
Cash Flow
Free Cash Flow	-4.80M	-10.78M	-14.80M	-19.89M	-11.26M	-9.72M
Operating Cash Flow	-4.35M	-10.63M	-14.26M	-5.45M	-7.15M	-4.26M
Investing Cash Flow	-169.47K	113.13K	-263.72K	-1.45M	3.72M	-5.25M
Financing Cash Flow	3.01M	10.20M	6.64M	2.11M	9.18M	10.66M

Singapore Institute of Advanced Medicine Holdings Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.07
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:9G2, the sentiment is Negative. The current price of 0.07 is above the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.05, and above the 200-day MA of 0.04, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 41.82 is Neutral, neither overbought nor oversold. The STOCH value of 63.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:9G2.

Singapore Institute of Advanced Medicine Holdings Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BSL	68 Neutral	$1.88B	―	6.15%	2.45%	8.90%	4.57%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
9G2	42 Neutral	S$52.95M	-1.83	-47.62%	―	-5.63%	28.29%

Singapore Institute of Advanced Medicine Holdings Ltd. Corporate Events

Singapore Institute of Advanced Medicine Announces Board and Committee Changes After Director’s Retirement

Singapore Institute of Advanced Medicine Holdings Ltd. has announced changes to its board and board committee composition effective 9 February 2026, following the retirement of Non-Executive and Non-Independent Director Vivienne Cheng Chi Fan, who will also step down from the Nominating and Remuneration Committees. Her departure leaves both committees with fewer than the required three members, and the company is reviewing its governance structure with a commitment to fill the vacancies within two to three months, underscoring an ongoing adjustment period in its corporate oversight while the remaining directors and audit committee composition remain in place.

The most recent analyst rating on (SG:9G2) stock is a Hold with a S$0.05 price target. To see the full list of analyst forecasts on Singapore Institute of Advanced Medicine Holdings Ltd. stock, see the SG:9G2 Stock Forecast page.

Singapore Institute of Advanced Medicine Fully Utilises S$644,000 Placement Proceeds for Equipment Maintenance

Singapore Institute of Advanced Medicine Holdings Ltd. has fully utilised the net proceeds of approximately S$644,000 from its placement of 19,748,000 new shares at S$0.035 each, completed in October 2025, to fund the group’s general working capital needs. The entire amount was applied to maintenance fees for medical equipment, underscoring the capital-intensive nature of its advanced medical operations, and the company also acknowledged an oversight in not promptly announcing the material use of these funds when it occurred in January 2026.

The most recent analyst rating on (SG:9G2) stock is a Hold with a S$0.05 price target. To see the full list of analyst forecasts on Singapore Institute of Advanced Medicine Holdings Ltd. stock, see the SG:9G2 Stock Forecast page.