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Thomson Medical Group Ltd.
(SGX:A50)
Select Model
Select Model
Rating:46Neutral
Price Target:
S$0.05
▼(-13.33% Downside)
Action:Reiterated
Date:01/08/26
Overall score is held back primarily by weak financial performance (declining revenue, negative profitability, high leverage, and poor free cash flow trends). Technicals are a bright spot with price trading above major moving averages and positive MACD, but valuation is undermined by losses (negative P/E) and no dividend yield support.
Positive Factors
Specialist women's & children's healthcare focus
A focused specialty model (obstetrics, gynaecology, fertility, paediatrics) builds durable demand and referral networks. Specialty services tend to be less price-sensitive, support repeat and package sales, and create barriers for generalist competitors over the next 2–6 months.
Negative Factors
High leverage (debt-to-equity)
A 2.38 debt-to-equity ratio signals elevated financial risk and limited balance sheet flexibility. High leverage raises interest and covenant risks, constrains investment in capacity or technology, and amplifies downside if patient volumes or pricing weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Specialist women's & children's healthcare focus
A focused specialty model (obstetrics, gynaecology, fertility, paediatrics) builds durable demand and referral networks. Specialty services tend to be less price-sensitive, support repeat and package sales, and create barriers for generalist competitors over the next 2–6 months.
Read all positive factors
Thomson Medical Group Ltd. (A50) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.40B
Dividend YieldN/A
Average Volume (3M)2.14M
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue Growth6.95%
EPS GrowthN/A
CountrySG
Employees2,185
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding26,443,615,000
10 Day Avg. Volume2,062,170
30 Day Avg. Volume2,143,033
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)2.41
Price to Sales (P/S)2.88
P/FCF Ratio33.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)S$455.90M
Thomson Medical Group Ltd. Business Overview & Revenue Model
Company Description
Operating as an investment holding company, Thomson Medical Group Limited delivers healthcare services specifically tailored for women and children across Singapore, Malaysia, and Vietnam. Its core assets include the Thomson Medical Centre, alongs...
How the Company Makes Money
Thomson Medical Group makes money primarily by charging patients (and/or their insurers) for clinical services delivered through its hospitals and specialist clinics. Key revenue streams typically include: (1) Hospital and inpatient/outpatient car...
Thomson Medical Group Ltd. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
40
Negative
Cash Flow
35
Negative
| Breakdown | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 394.66M | 351.15M | 355.77M | 333.71M | 240.40M |
| Gross Profit | 295.33M | 275.39M | 296.39M | 278.38M | 116.02M |
| EBITDA | 57.72M | 109.08M | 106.78M | 110.72M | 59.54M |
| Net Income | -47.58M | 14.16M | 36.55M | 53.76M | 14.24M |
Balance Sheet | |||||
| Total Assets | 1.78B | 1.81B | 1.45B | 1.36B | 1.29B |
| Cash, Cash Equivalents and Short-Term Investments | 124.21M | 167.28M | 286.59M | 161.59M | 114.51M |
| Total Debt | 1.12B | 1.12B | 762.79M | 642.86M | 631.08M |
| Total Liabilities | 1.24B | 1.23B | 872.34M | 756.60M | 719.74M |
| Stockholders Equity | 470.89M | 499.72M | 499.44M | 531.68M | 489.84M |
Cash Flow | |||||
| Free Cash Flow | 33.79M | 52.99M | 75.81M | 64.68M | 23.96M |
| Operating Cash Flow | 60.45M | 83.35M | 88.59M | 92.80M | 61.25M |
| Investing Cash Flow | -27.16M | -489.99M | -13.39M | -29.44M | -37.57M |
| Financing Cash Flow | -71.19M | 281.32M | 54.22M | -23.48M | -58.82M |
Thomson Medical Group Ltd. Technical Analysis
Neutral
0.06
Price Trends
0.06
Negative
0.06
Negative
0.06
Negative
Market Momentum
>-0.01
Negative
49.76
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:A50, the sentiment is Neutral. The current price of 0.06 is above the 20-day moving average (MA) of 0.05, above the 50-day MA of 0.06, and above the 200-day MA of 0.06, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.76 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:A50.
Thomson Medical Group Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
SG:A50
Thomson Medical Group Ltd.
0.05
0.01
22.73%
SG:P8A
Cordlife Group
0.16
-0.11
-41.51%
SG:BSL
Raffles Medical Group
0.93
-0.06
-5.97%
SG:505
Asiamedic Limited
0.02
0.01
91.67%
SG:5WA
OUE Lippo Healthcare Limited
0.04
0.01
52.17%
SG:TBDD
Bangkok Dusit Medical Services Public Co Ltd Shs UnSp Singapore Depositary Receipt Repr 2/1 Sh
1.48
-0.03
-1.79%
Thomson Medical Group Ltd. Corporate Events
Thomson Medical Names Acting CEO to Drive Next Phase of Singapore Expansion
Jun 1, 2026
Thomson Medical Group has appointed current Chief Commercial Officer Cassandra Loh as Acting CEO of Thomson Medical Singapore from 1 July 2026, succeeding Lee Suen Ming after nearly three years at the helm. Loh will retain her commercial portfolio...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.